yuan

The Real Situation Of China’s Reserves

In the Asia Times there is an article about the tricks China has begun to use to conceal the truth about its foreign currency position. Up until December, China released the two figures corresponding to foreign currency reserves, that of the Central Bank and that of the banking sector (which let’s not forget is state-owned).


Redefining The China Dream

Caixin | Lijia Zhang burst onto the international literary scene in 2008 with a memoir about her rebellious journey from disillusioned factory worker who spearheaded a walkout in support of the Tiananmen Square demonstrators in 1989 to becoming a writer and journalist. Her first book, Socialism is Great! A Worker’s Memoir of the New China, published by Atlas & Co., describes how she dreamed of escaping the stultifying routine of factory life, while reading Jane Eyre hidden within the folds of The People’s Daily. The book has since been translated into seven languages.





RMB as reserve: Rebalancing the global financial system

By Peter Wong via Caixin | It is unlikely that the RMB or yuan, China’s “people’s currency,” will replace the dollar outright as the world’s only investment and reserve currency any time in the foreseeable future. But there is every indication that the dollar will have to make room for a second global reserve currency within the next 15 years. A revolution allowing investors to diversify risk – and creating a system with more choice and better ability to resist shocks – should be welcomed.


Why All Currencies Are National

By Jean Pisani-Ferry via CaixinActions by America’s Justice Department launching a probe against BNP Paribas are a reminder that the major international currency – the U.S. dollar – brings with it legal, judicial and political dimensions. 


China: Eyes on the Prize

BEIJING | By Andy Xie via Caixin | Poor economic data in China will make the short-sighted howl, but policymakers know it is really a sign of rebalancing – and raising per capita incomes.