SCO & BRICS latest news and insights
By Rhod Mackenzie
The global financial system is no longer exclusively a matter for the West. The decision by the Chinese agency CCXI to assign a BBB+g credit rating to Russia is not merely a technical assessment; it is a symbol of a global turning point. It is evident that Fitch, Standard and Poo...
By Rhod Mackenzie
China is consistently pursuing a strategy of de-dollarisation and diversification of its foreign exchange reserves. Beijing, which was previously a significant holder of American debt, is now actively selling it and replacing American government bonds with gold.
For example, in...
By Rhod Mackenzie
Yields on US debt, specifically the 10-year and 30-year US government bonds, reached a 16-year high on 3 October. Beijing may be one of the contributing factors behind this surge, according to Business Insider. One advocate for the "China footprint" is Thorsten Slok, the chief ec...
By Rhod Mackenzie
According to Liu Lin, the deputy head of the investment department of the People's Bank of China (PBOC), major issuers are trying to take advantage of the interest rate differential between China and the United States, and are therefore issuing and selling as many yuan bonds as p...
By Sergey Manukov
Over the past few months, the Chinese Ministry of Finance has been aggressively selling US government bonds. As a result of this sale, as of the end of June, China had “only” $835 billion left, according to Business Insider. Of course, this is a lot, but not for China. The last t...
