According to Moodys a slowdown is evident, as seen in the shrinking share of shadow banking in overall credit flows. World Finance speaks with Rhodri Preece from the CFA Institute on the impact will this will have on China’s economy.
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In the second part of our interview with FIBA CEO David Schwartz, he explains how compatible Cuba is with the rest of the world.
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Economist Roger Nightingale concedes to World Finance that his projected GDP growth figure of three percent growth may be too high for a country that has seen ‘no growth’ in the past year.
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World Finance speaks with David Schwartz, FIBA CEO on what that means for the world economy.
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Economist Roger Nightingale tells World Finance that Chinese premier Li Keqiang’s recent exclusive interview with Western media reveals a country that is bracing for economic calamity as the US dollar rises in the months ahead.
World Finance: What do you make of the Premier’s statements on the prospect of China’s formalised QE program, and the US’s hike in rates? He said: “When QE is in place, there may be all sorts of players managing to stay afloat in this big ocean, yet it’s difficult really to predict now what may come out of it when QE is withdrawn.” Would you say that he’s right on the money?
Roger Nightingale: He quite clearly is worried about the level of activity in the Chinese economy. If he hadn’t been worried about that he wouldn’t have found it necessary to talk about throwing liquidity into the pot.
So quite clearly there’s been some change in view, because a year ago, two years ago, the Chinese authorities thought they had everything under control, they thought they didn’t need to do the sort of stuff that the Brits and the Americans were doing. They acknowledged that the economy is somewhat weaker, perhaps substantially weaker, that’s on the one hand.
Meanwhile you’ve got the Americans, as you rightly point out, talking about the possibility of doing the opposite, talking about the possibility of tightening money and raising interest rates. Well if they do that, you’re going to pull up the dollar hugely and pull down the yuan enormously. That’s going to cheapen the Chinese product selling into America.
World Finance: What he’s really not willing to admit outright is they’re engaging in their own easing programs, you don’t have to call it QE, but the Chinese are as powerless as the Americans are to market forces.
Roger Nightingale: Yes, absolutely.
World Finance: So what are we going to see in the next decades among these two economic giants?
Roger Nightingale: Depression. You can’t always have a nice solution to every scenario. Sometimes, you have to take a bit of pain, grit your teeth, tighten your belt, put your head down, and live through it. It won’t last forever. The Depression of the 1930s didn’t last for ever, the depression of the 1890s and the 1820s didn’t last forever, it will end. It just may be that we’re dead before it does.
World Finance speaks with FIBA CEO David Schwartz on the impact of Obama’s current policy and regulations on the financial industry and international business partners.
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World Finance speaks with Rusudan Mikhelidze from the OECD on how the country is tackling this challenge.
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With the softening tie between the states and Cuba World Finance speaks with the now Secretary General of the International Chamber of Commerce on what this will mean economically for both countries.
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Dr Alexey Maslov, Head of the School of Asian Studies at the National Research University in Moscow, tells World Finance that Putin’s “flexible and soft approach” towards North Korea is an effort to appeal to the wider Asian consciousness.
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World Finance speaks with Jessica James, Co-Head of the FX Quantitative Solutions team at Commerzbank, London to find out.
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World Finance speaks with Olga Savran ACN Manager at the OECD’s Anti-Corruption Division to find out how Ukraine has progressed.
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World Finance speaks with FX Option Performance author Jessica James on why forex and forex option markets have become so huge.
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Dr Alexey Maslov, Head of the School of Asian Studies at the National Research University in Moscow, tells World Finance Russian exuberance over closer trade ties with North Korea is only the beginning of its East Asia pivot.
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Dr Robert Pollin, co-director and professor of economics at the Political Economy Research Institute, tells World Finance that gradual price adjustments and corporate structural changes are the best way to achieve a desperately needed wage increase.
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World Finance speaks with Tom Elliot deVere Group’s International Investment Strategist on the quicksilver markets, and a possible market correction.
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