A new working paper by the European Central Bank (ECB) argues that a Central Bank Digital Currency (CBDC) would more efficiently facilitate monetary liquidity. There has been significant discussion and some disagreement over whether it should be left to the private sector to issue Euro stablecoins with appropriate regulations, or whether Central Banks should get...
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SPOTLIGHT: CHINA
INVESTORS CIRCLE BACK TO CHINA In June, investors put more than $6 billion into 20 international funds focused on Chinese stocks, more than in any month since early 2021, according to Morningstar. Investors are betting on signs that China’s crackdown on its tech sector may be easing and that the worst of the country’s property...
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THE BIG SPLIT: COULD TWO AMERICAS HAPPEN?
One of the more detailed articles arguing against a split of America into two (or more) nations, a March 2022 Newsweek piece, posited that doing so would be economically catastrophic. There is an ever-growing divide between how red states and blue states envision hot button issues like abortion, medical mandates, gun rights, military interventionism, and...
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SPOTLIGHT: CHINA UP, CHINA DOWN
CHINA’S ECONOMY RETURNS TO GROWTH IN JUNE After contracting for three consecutive months, China’s economy grew modestly in June. The country’s official purchasing managers index (PMI) for the services sector grew to 54.7 last month from 47.8 in May as China lifted its three-month anti-COVID lockdown of more than 325 million people in 46 metro...
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RISING INTEREST RATES INFLATE GOVERNMENT SPENDING
Yields on U.S. treasury securities have been rising with interest rates and the federal government’s debt service payments are rising with them. The return on the benchmark 10-year treasury note will average 2.4 percent this fiscal year, compared to 1.4 percent in the previous year, the nonpartisan Congressional Budget Office (CBO) has predicted. During the...
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HOME PRICES IN CHINA NOT RECOVERING
Home prices in 70 major cities across China continued to slide in May, dropping by an average of 0.79 percent from a year previous, despite banks’ and local governments’ efforts to revive demand as the country’s real estate industry continues to work its way out of financial near-collapse. Prices ticked down 0.17 percent from the...
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SPOTLIGHT: THE RETURN OF CHINA
CHINA’S EXPORT ECONOMY REBOUNDS China’s exports surged 16.9 percent in May, year over year, almost four times the 3.9-percent expansion booked in April, the country’s General Administration of Customs reported. The figure stunned analysts, who had held a median expectation of 8 percent, The Wall Street Journal noted. The surge likely was the result of...
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SPOTLIGHT CHINA: EAST VS. WEST
Australia and Canada blamed the Chinese fighter jets for conducting aggressive maneuvers during patrols near North Korea, which included one fighter spraying metallic chaff in the path of an Australian surveillance craft. China played down the incident and questioned aloud why planes from Canada and Australia were so close to its territory. “Australia military planes...
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SHANGHAI LIFTS LOCKDOWN
On 1 June, China’s largest city, with 25 million people, began lifting its two-month anti-COVID lockdown that had trapped people in their homes and workplaces and shut the world’s busiest port. The lockdown was ended after four days with no COVID deaths in the city and the rate of new infections at its slowest since...
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GERMANY TAKES TOUGHER STANCE AGAINST CHINA: ‘SELF-SUFFICIENCY’ TOP TREND
German Chancellor Olaf Scholz came hot out of the gate when it comes to how he will approach China during his chancellorship. In April, he used his first visit to Asia as chancellor to visit Japan instead of China, Berlin’s top trading partner. Scholz did not hide the significance of the trip to Tokyo and...
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