With the increasing angst between China and the U.S. and Chinese siding up to Russia since the Russian invasion of Ukraine we have seen more talk of moving away from the US dollar. The ‘outsider’ nations have been moving to protect themselves since the US weaponized the US dollar to impose financial sanctions on Russia after its invasion of Ukraine so as to decrease their own vulnerability to similar sanctions. China and the BRIC nations are at the forefront here. … Continue reading “China Moves Away from US Dollar to Deals in Yuan with Russia, Saudi Arabia, Brazil and India”
China’s Shanghai and Shenzhen Stock Markets Plunged in 2022
China’s blue chip stock indices closed down sharply this year. The Shanghai Composite stock market ended down -15.1% for the year, the Shenzhen Component plunged 26% to 11,016 in 2022, both benchmarks notched their first annual losses since 2018. It has been a tumultuous year for Chinese investments with the implosion of China’s property sector and China’s Covid Zero policy, which it abandoned in late December as the virus spread rampant through the country. Hong Kong’s Hang Seng was down 15.5% … Continue reading “China’s Shanghai and Shenzhen Stock Markets Plunged in 2022”