SCO & BRICS latest news and insights
By Rhod Mackenzie
While Europe and the US are grappling with how to deal with their debts, Russia has turned Western pressure to its advantage and found an elegant solution to the financial crisis. However, this solution won't suit everyone.
Russia's debt at record low level
Russia's debt at re...
By Rhod Mackenzie
Beijing has successfully managed to increase the use of the yuan on the global stage. It is currently offering its debtors the opportunity to convert their dollar loans into yuan. This strategy is already a success as Kenya has already consented to this proposal and stands to sav...
By Rhod Mackenzie
The International Securities Depository Europclear based in Brussels has exhorted the European Commision not to steal and use Russia's assets frozen in the depository as they would be legally held responsible as the custodian for the return of the assets once the conflict is over...
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...
