If the US dollar loses its hegemony as a global reserve currency, it would be a sea change globally, and specifically for the US economy. Today, we got the next installment in that saga.
Stocks of Chinese companies listed in the US have turned into a fiasco.
Ginormous numbers, FX swaps and spot trades, USD, EUR, JPY, GBP, Australian & Canadian dollars… but where the heck is China’s CNY?
Another piece in the Chinese capital-flow puzzle.
Shareholders are already toast. Would China’s Fosun conglomerate follow the time-honored principle of throwing good money after bad?
“Wiring money overseas is not allowed for the purposes of purchasing real estate or insurance products”: banker in China
Exports by China, Japan, and Eurozone under pressure — in part because of globally weak demand for new vehicles, which transcends the trade war.
HSBC’s pleas of innocence have won little sympathy in Beijing.
Today’s scenario is very unlike the plunge during the Financial Crisis, which blew over in no time.
The bottom lines in a very competitive business are threatened.