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The year has not started well for global financial markets. Undoubtedly, one reason that stocks have slumped is that the United States Federal Reserve under Janet Yellen has started to raise interest rates and signaled that more hikes are coming. The hawkish stance of Ms. Yellen’s Fed not only risks derailing the U.S. eco...
If you thought that the crisis facing China’s equity and currency markets – so evident last summer – was over, renewed turmoil in the first weeks of 2016 shows that there is still a long way to go, writes GIS Guest Expert Nick Fielding. Government support has helped slow the price collapse, and there have even been some scattered signs of stabilization in real esta...
A clean break in the renminbi’s link to the dollar, which has existed since China started opening its economy in the late 1970s, would herald the demise of a “dollar bloc” that has dominated global finance for decades. While this would not necessarily displace the dollar as the world’s main reserve currency, it would significantly reduce the U.S. Federal Reserve’s ...
At the end of November, the International Monetary Fund (IMF) announced that from October 2016 the Chinese yuan will be part of the basket of currencies that defines the Special Drawing Right (SDR), the accounting unit the organisation uses to carry out financial operations. The immediate practical effects will be minor. Being part of a unit of account means all bu...
Professor Enrico Colombatto