• Home
  • Music
  • About
  • Contact

RichardbBrunner

~ creative arts therapist

RichardbBrunner

Category Archives: Economics

CNBC: Why The U.S. Can’t End Poverty

17 Friday Mar 2023

Posted by RichardB in america, Economics, poverty

≈ Leave a comment

Tags

economics, poverty

Russia, China, and Money

29 Tuesday Mar 2022

Posted by RichardB in China, Economics, Economy, news, Politics, Research

≈ Leave a comment

Tags

China, economics, reserve currency, Russia, world

The Russia-led Eurasia Economic Union and China just agreed to design the mechanism for an independent financial and monetary system that would bypass dollar transactions.

“The Eurasian Economic Union (EAEU) and China agreed to design the mechanism for an independent international monetary and financial system.”

Say hello to Russian gold and Chinese petroyuan. https://thecradle.co/Article/columns/7975

The Eurasian Economic Union: Deals, Rules and the Exercise of Power
Regardless of its multiple shortcomings, the Eurasian Economic Union (EAEU) should not be dismissed out of hand. For Russia, it is the primary vehicle for realizing a global geopolitical agenda.
Chatham House Research Paper. https://www.chathamhouse.org/2017/05/eurasian-economic-union

Russia and China, Together at Last: At the core of recent conflicts is an entente between China and Russia that the world hasn’t seen since the start of the Cold War.

“At their February 4 meeting, Putin and Xi drew on 37 prior encounters to proclaim nothing less than an ad-hoc alliance meant to shake the world. As the foundation for their new “global governance system,” they promised to “enhance transport infrastructure connectivity to keep logistics on the Eurasian continent smooth and…make steady progress on major oil and gas cooperation projects.” These words gained weight with the announcement that Russia would spend another $118 billion on new oil and gas pipelines to China. (Four-hundred billion dollars had already been invested in 2014 when Russia faced European sanctions over its seizure of Crimea from Ukraine.) The result: an integrated Sino-Russian oil-and-gas infrastructure is being built from the North Sea to the South China Sea.”

Russia and China Together at Last. https://www.thenation.com/article/world/russia-and-china-together-at-last/

Reserve Currency part 2

22 Tuesday Mar 2022

Posted by RichardB in China, Economics, Economy, news, Politics, Uncategorized

≈ Leave a comment

Tags

China, China and Russia form a new economic block, Economy, reserve currency

Before the yuan can become a global currency, it must first be successful as a reserve currency. That would give China the following benefits:

The yuan would be used to price more international contracts. China exports a lot of commodities that are traditionally priced in U.S. dollars. If they were priced in yuan, China would not have to worry so much about the dollar’s value.
All central banks would have to hold yuan as part of their foreign exchange reserves. The yuan would be in higher demand. That would lower interest rates for bonds denominated in yuan.
Chinese exporters would have lower borrowing costs.
China would have more economic clout in relation to the United States.
It would support President Jinping’s economic reforms.

China is working hard to make the yuan the next global currency. Although presently a reserve currency, the yuan can’t upstage the U.S. dollar unless the following scenarios happen:

Central banks around the world choose to keep a total of at least $700 billion worth of yuan in foreign exchange reserves.
The People’s Bank of China (PBOC) allows free trade of the yuan and relaxes its peg to the U.S. dollar.
The PBOC becomes straightforward about its future intentions with the yuan.
China’s financial markets turn transparent.
Chinese monetary policies are perceived as stable.
The yuan acquires the U.S. dollar’s reputation of stability, which is backed by the enormity and liquidity of U.S. Treasurys.

Reserve Currency

15 Tuesday Mar 2022

Posted by RichardB in Economics, Economy, Politics, Uncategorized

≈ Leave a comment

Tags

currency, economics, Foreign Policy, reserve

A reserve currency (or anchor currency) is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe-haven currency.

The United Kingdom’s pound sterling was the primary reserve currency of much of the world in the 19th century and first half of the 20th century.[1] However, by the middle of the 20th century, the United States dollar had become the world’s dominant reserve currency.[2] The world’s need for dollars has allowed the United States government to borrow at lower costs, giving the United States an advantage in excess of $100 billion per year.

John Maynard Keynes proposed the bancor, a supranational currency to be used as unit of account in international trade, as reserve currency under the Bretton Woods Conference of 1945. The bancor was rejected in favor of the U.S. dollar.

A report released by the United Nations Conference on Trade and Development in 2010, called for abandoning the U.S. dollar as the single major reserve currency. The report states that the new reserve system should not be based on a single currency or even multiple national currencies but instead permit the emission of international liquidity to create a more stable global financial system.

Countries such as Russia and the China, central banks, and economic analysts and groups, such as the Gulf Cooperation Council, have expressed a desire to see an independent new currency replace the dollar as the reserve currency. However, it is recognized that the US dollar remains the strongest reserve currency.

Watch “The World Ahead: the true costs of ageing | The Economist” on YouTube

04 Friday Feb 2022

Posted by RichardB in Economics, news, Politics

≈ Leave a comment

Tags

aging, news

Watch “The man who volunteered to be imprisoned in Auschwitz – BBC REEL” on YouTube

21 Friday Jan 2022

Posted by RichardB in Economics, Holocaust, news

≈ Leave a comment

Tags

Courage, Holocaust

Watch “Before The Mets, Steve Cohen Was The Hedge-Fund King | FRONTLINE (full documentary)” on YouTube

14 Friday Jan 2022

Posted by RichardB in Economics, news, Politics

≈ Leave a comment

Tags

Business, news, ugh

Watch “Why Warehouses Are Taking Over The U.S.” on YouTube

07 Friday Jan 2022

Posted by RichardB in Economics, news, Politics

≈ Leave a comment

Tags

consumption, warehouses

Watch “Taiwan vs. China – The rocky road to democracy | DW Documentary” on YouTube

24 Friday Dec 2021

Posted by RichardB in China, Economics, news, Politics

≈ Leave a comment

Tags

China, Taiwan

China’s loans

15 Friday Oct 2021

Posted by RichardB in China, Economics, Economy, news, Politics

≈ Leave a comment

Tags

China, loans, news

An interesting read from FT AlphaVille:

“China is the world’s biggest lender to governments. And that’s not just because of its gigantic stockpile of US Treasuries. For much of the past decade Beijing has sought to plug massive infrastructure funding gaps across multiple continents through its Belt and Road Initiative. The overarching aim, other than to bolster global influence, is to upgrade transport links on the old silk road routes which enabled trade between the Far East and what lay to the west of it.” More HERE at FT. You may have to register (for free) to read this article.

Supporting articles: How China Lends Data Sets from AidData and How China Lends PDF from The Peterson Institute for International Economics.

← Older posts

instagram

Tags

About Addiction anger Anxiety asanas asthma bbc behavior Bird Birds brain cats children China Coloring Page creative creative arts therapy Creativity dance Dance Movement Therapy depression diet dmt dogs Economy fall flora flower flowers food handout handouts health history India Japanese Textile Designs latin life Mandala meditation men Mental Health mindfulness money Movement music My Photos news NH pain people pets photo photos Psychotherapy quote recovery relaxation research Science Seguy Art Deco Designs self snow sony Stress therapy trauma TravelTuesday treatment trees wellness winter writing yoga youtube
Follow RichardbBrunner on WordPress.com
  • Instagram
  • Tumblr
  • YouTube

Blog at WordPress.com.

  • Follow Following
    • RichardbBrunner
    • Join 453 other followers
    • Already have a WordPress.com account? Log in now.
    • RichardbBrunner
    • Customize
    • Follow Following
    • Sign up
    • Log in
    • Report this content
    • View site in Reader
    • Manage subscriptions
    • Collapse this bar
 

Loading Comments...