THOUGHTS ON “MORE CONFIRMATION OF SDR/RMB & UPCOMING POM ANNOUNCEMENT”
deejj87 APRIL 17, 2015 AT 4:46 PM This video came out in 2010 outlining the shift in wealth from West to East. It was the same year the IMF Quota Reforms were introduced, and thus the framework revealed to the world of the wealth transfer we are currently experiencing.
http://ift.tt/1Q9o0uH (view on next page)
The speaker here is James Wolfenson, former President of the World Bank. I remember watching this 3 years ago and not comprehending the gravity of what is to take place and the mechanisms that will replace our current petrodollar system.
He says within the next 40 years, the income of the top economic performing countries will drop from 80% to 35%.
~~~
deejj87 APRIL 17, 2015 AT 4:46 PM This video came out in 2010 outlining the shift in wealth from West to East. It was the same year the IMF Quota Reforms were introduced, and thus the framework revealed to the world of the wealth transfer we are currently experiencing.
http://ift.tt/1Q9o0uH (view on next page)
The speaker here is James Wolfenson, former President of the World Bank. I remember watching this 3 years ago and not comprehending the gravity of what is to take place and the mechanisms that will replace our current petrodollar system.
He says within the next 40 years, the income of the top economic performing countries will drop from 80% to 35%.
~~~
I believe what we are seeing unfold with these new multilateral banks will accelerate the transition and timeline presented in this video. It’s a time of forced evolution, a pushing towards mass global socialism rather than a pull towards a natural market and free trade based economy.
Many people in the West will be stunned when their standard of living quickly and dramatically diminishes to give way to the growing middle class and purchasing power in China and India.
Only the adaptable will survive and thrive, the MO of how we interact with the marketplace will look completely different.
JC, it sounds like your idea is a thriving one. I’d like to know your thoughts around what you foresee for the cultural/ social/ economic way of life in 10 years from now in North America.
Cramley APRIL 17, 2015 AT 5:00 PM Everybody can see the Lacy Hunt material on ZH now. I don’t even have to read what he said to Santelli. He spelled it out here on this Gordon Long interview. It’s all about the debt.
http://ift.tt/1ForXHW
Many people in the West will be stunned when their standard of living quickly and dramatically diminishes to give way to the growing middle class and purchasing power in China and India.
Only the adaptable will survive and thrive, the MO of how we interact with the marketplace will look completely different.
JC, it sounds like your idea is a thriving one. I’d like to know your thoughts around what you foresee for the cultural/ social/ economic way of life in 10 years from now in North America.
Cramley APRIL 17, 2015 AT 5:00 PM Everybody can see the Lacy Hunt material on ZH now. I don’t even have to read what he said to Santelli. He spelled it out here on this Gordon Long interview. It’s all about the debt.
http://ift.tt/1ForXHW
Roger Parness APRIL 17, 2015 AT 6:30 PM My last nerve with these retarded Phd economists. Pompous ignorant** who produce no value.
Ya think maybe during your time with Mr. Rockefeller etc. you helped create the problem, slick?
How much you making now to tell people about the mess you and your ilk made of the world?
Steve Henningsen (@Stevephenni) APRIL 17, 2015 AT 11:06 PM Roger, who are you referring to? Lacy?
If yes, Lacy is actually a friend of mine and I can tell you that he is one of the nicest, humblest and smartest guys you can bump into. A true gentleman.
Yes, he’s an economist, but one that has rallied against what The Fed has been doing and places most of the blame where it belongs; Congress.
JC Collins APRIL 17, 2015 AT 11:17 PM Rogers comment was borderline on being approved. If it was from a new reader and I would not have approved it. We can all get a little emotional about the course of history and events, but talking about hanging others is a reflection on what I mean about the problem is inside of each one of us.
Roger Parness APRIL 18, 2015 AT 1:44 AM It’s an attempt to paraphrase Shakespeare’s play ‘Henry VI’. Come on …. It’s humor. Although I stand by my opinion of economists.
Dripfood APRIL 18, 2015 AT 6:16 PM Mr. Hunt provides an interesting analysis. The only thing he misinterprets in my opinion is QE. He interprets it as public debt creation.
His conclusion would totally change if he would see QE for what it really is: public debt annihilation. And onsidering the emerging multilateral liquidity will primarily be provided for productive investment, his prognosis will be proven ‘traditional’ and off the mark.
Tao Dao Man APRIL 17, 2015 AT 5:09 PM
http://ift.tt/1Q9o39H
irrelevant111 APRIL 17, 2015 AT 6:54 PM For Dottie, All about the journey… Enjoy.
http://ift.tt/1OxOjqD
Dottie Derewicz APRIL 17, 2015 AT 11:50 PM Thank you Irrelevant.. that was lovely. It would be wonderful to enjoy that peace and harmony every day in this world, again thank you.
irrelevant111 APRIL 18, 2015 AT 9:58 AM You are most welcome
It exists each day, but few see it… Best Always
deejj87 APRIL 17, 2015 AT 11:31 PM This is interesting… Could it be that the Value of the USD has dropped relative to the Yuan… At the moment the dollar seems strong compared to Euro, CAD, GBP…
But that’s relative to the cumulation of downward spiralling scrounging and stealing taking place to keep debt payments from imploding the confidence in currency and banking. I think this shows yet another public display of weakness in US current ability to remain the dominant dollar peg.
““We are now reaching a point where” the yuan is close to “no longer being undervalued,” Markus Rodlauer, deputy director of IMF’s Asia Pacific Department, said at a briefing in Washington on Friday. There has been “very significant appreciation” of the currency in real effective terms, he said.”
http://ift.tt/1G724uB?
Cedarforest APRIL 18, 2015 AT 6:34 PM This appears to be the case, deejj87, according to this post: http://ift.tt/1OqJ3oS Barclays estimates that CNY is around 20% overvalued.
irrelevant111 APRIL 18, 2015 AT 9:47 AM Interesting article…
BRICS Development Bank won’t rival China-led AIIB, but complement – CBR head
Published time: April 17, 2015 16:34
Asia, Banking, Finance, Russia and the global economy
The BRICS New Development Bank and the Asian Infrastructure Investment Bank (AIIB), both seen as alternatives to US – led institutions, will not compete, but rather complement each other, said the head of the Central Bank of Russia Elvira Nabiullina.
Nabiullina made the statement Thursday in Washington where she is attending the spring meetings of the International Monetary Fund and World Bank.
“I don’t think there’s less energy (around the BRICS bank). We didn’t feel that. To the contrary, all the representatives of all the countries … were very motivated to reach speedy practical results,” she said.
Read more $50bn Asian infrastructure bank approves 57 founding members
Both development institutions have been gaining popularity and are seen as a counterbalance to the IMF and World Bank. President Obama has reacted insisting the US should make the rules for the global economy, and not China. The US and Japan have not applied for the membership in either of the new development banks.
Also in Washington Russia’s Finance Minister Anton Siluanov said that the BRICS New Development Bank will be launched before the BRICS summit in Ufa scheduled for July 9-10.
“We discussed a legal framework for this bank, agreed that by that time [July BRICS summit – Ed.] all of the countries should ratify agreements to set up the Bank,” Siluanov said.
Read more Putin signs law on ratification of $100 billion BRICS New Development Bank deal
The BRICS development bank will start with Russia, Brazil, India, China and South Africa, and was first proposed in 2012. The Bank will be open to other members of the United Nations, the Russian Finance Ministry said in March.
Each of the five-member countries is expected to allocate an equal share of the $50 billion startup capital, which will be expanded to $100 billion. Russia has agreed to provide $2 billion from the federal budget for the bank over the next seven years.
The money will be used to finance development projects in emerging economies. India will serve as the first five-year rotating president, and the first Chairman of the Board will be Brazilian.
The Asian Bank for Infrastructure Investment (AIIB), established in 2014 by China, will finance infrastructure projects like the construction of roads, railways, airports in the Asia-Pacific Region.
Its headquarters will be in Beijing. The initial subscribed capital of AIIB will be $50 billion and is planned to be increased to $100 billion.
Dottie Derewicz APRIL 18, 2015 AT 1:48 PM Irrelevant.. why don’t you offer the links for what you are offering as fact? Without there is no way of telling if your sources have credibility. Without links I can’t even take what you say as being valid.
irrelevant111 APRIL 18, 2015 AT 6:10 PM One source, zerohedge.com n many more. All about connecting dots along the road. Best Always
Dottie Derewicz APRIL 19, 2015 AT 12:22 PM I understand Irrelevant and I follow ZH as well, but I do like to read the links that you have used to connect your dots.
I have a site and I always post the links where my conclusions came from. It helps people to know how you come to your conclusions. Thank you Irrelevant
Cramley APRIL 18, 2015 AT 3:06 PM When you’re holding a big position in a certain asset class, you’re going to talk your book and not bad mouth it until you’ve unwound the position.
That’s what the Silk Road and AIIB are about–unwinding the USD position into productive assets.. at first. Remember years ago when China tried to buy Unocal and other assets? USGovt slammed the door saying you have no other option than US debt.
Then China tried IMF reforms Stiffed again
Then Trevor Manuel from South Africa was passed over for the empty pant-suit Christine. That’s when China knew it was on its own and would have to devise a parallel system while continually accumulating USTs.
Now with such an inventory of reserves and alternate avenues of investment, China is like a primary dealer at the beginning of the USTreasury supply chain. It’ll extract the most value as these securities trickle back to the West.
Roger Parness APRIL 18, 2015 AT 5:23 PM I suppose we Americans also have hopes of unwinding our dollar positions. As a US wage earner/debt slave I’d like to know where to put savings to weather the storm.
Cramley APRIL 19, 2015 AT 3:29 PM Roger, just do what Russia is doing. Putin reopened the gold window last year..Funny how Ukraine went hot last year.
The fun begins around 13min mark
[audio src="http://ift.tt/1OxOjqN" /]
Check out how Russia has run down dollar reserves and upped gold holdings.
http://ift.tt/1m8Pi4G
Ya think maybe during your time with Mr. Rockefeller etc. you helped create the problem, slick?
How much you making now to tell people about the mess you and your ilk made of the world?
Steve Henningsen (@Stevephenni) APRIL 17, 2015 AT 11:06 PM Roger, who are you referring to? Lacy?
If yes, Lacy is actually a friend of mine and I can tell you that he is one of the nicest, humblest and smartest guys you can bump into. A true gentleman.
Yes, he’s an economist, but one that has rallied against what The Fed has been doing and places most of the blame where it belongs; Congress.
JC Collins APRIL 17, 2015 AT 11:17 PM Rogers comment was borderline on being approved. If it was from a new reader and I would not have approved it. We can all get a little emotional about the course of history and events, but talking about hanging others is a reflection on what I mean about the problem is inside of each one of us.
Roger Parness APRIL 18, 2015 AT 1:44 AM It’s an attempt to paraphrase Shakespeare’s play ‘Henry VI’. Come on …. It’s humor. Although I stand by my opinion of economists.
Dripfood APRIL 18, 2015 AT 6:16 PM Mr. Hunt provides an interesting analysis. The only thing he misinterprets in my opinion is QE. He interprets it as public debt creation.
His conclusion would totally change if he would see QE for what it really is: public debt annihilation. And onsidering the emerging multilateral liquidity will primarily be provided for productive investment, his prognosis will be proven ‘traditional’ and off the mark.
Tao Dao Man APRIL 17, 2015 AT 5:09 PM
http://ift.tt/1Q9o39H
irrelevant111 APRIL 17, 2015 AT 6:54 PM For Dottie, All about the journey… Enjoy.
http://ift.tt/1OxOjqD
Dottie Derewicz APRIL 17, 2015 AT 11:50 PM Thank you Irrelevant.. that was lovely. It would be wonderful to enjoy that peace and harmony every day in this world, again thank you.
irrelevant111 APRIL 18, 2015 AT 9:58 AM You are most welcome
It exists each day, but few see it… Best Always
deejj87 APRIL 17, 2015 AT 11:31 PM This is interesting… Could it be that the Value of the USD has dropped relative to the Yuan… At the moment the dollar seems strong compared to Euro, CAD, GBP…
But that’s relative to the cumulation of downward spiralling scrounging and stealing taking place to keep debt payments from imploding the confidence in currency and banking. I think this shows yet another public display of weakness in US current ability to remain the dominant dollar peg.
““We are now reaching a point where” the yuan is close to “no longer being undervalued,” Markus Rodlauer, deputy director of IMF’s Asia Pacific Department, said at a briefing in Washington on Friday. There has been “very significant appreciation” of the currency in real effective terms, he said.”
http://ift.tt/1G724uB?
Cedarforest APRIL 18, 2015 AT 6:34 PM This appears to be the case, deejj87, according to this post: http://ift.tt/1OqJ3oS Barclays estimates that CNY is around 20% overvalued.
irrelevant111 APRIL 18, 2015 AT 9:47 AM Interesting article…
BRICS Development Bank won’t rival China-led AIIB, but complement – CBR head
Published time: April 17, 2015 16:34
Asia, Banking, Finance, Russia and the global economy
The BRICS New Development Bank and the Asian Infrastructure Investment Bank (AIIB), both seen as alternatives to US – led institutions, will not compete, but rather complement each other, said the head of the Central Bank of Russia Elvira Nabiullina.
Nabiullina made the statement Thursday in Washington where she is attending the spring meetings of the International Monetary Fund and World Bank.
“I don’t think there’s less energy (around the BRICS bank). We didn’t feel that. To the contrary, all the representatives of all the countries … were very motivated to reach speedy practical results,” she said.
Read more $50bn Asian infrastructure bank approves 57 founding members
Both development institutions have been gaining popularity and are seen as a counterbalance to the IMF and World Bank. President Obama has reacted insisting the US should make the rules for the global economy, and not China. The US and Japan have not applied for the membership in either of the new development banks.
Also in Washington Russia’s Finance Minister Anton Siluanov said that the BRICS New Development Bank will be launched before the BRICS summit in Ufa scheduled for July 9-10.
“We discussed a legal framework for this bank, agreed that by that time [July BRICS summit – Ed.] all of the countries should ratify agreements to set up the Bank,” Siluanov said.
Read more Putin signs law on ratification of $100 billion BRICS New Development Bank deal
The BRICS development bank will start with Russia, Brazil, India, China and South Africa, and was first proposed in 2012. The Bank will be open to other members of the United Nations, the Russian Finance Ministry said in March.
Each of the five-member countries is expected to allocate an equal share of the $50 billion startup capital, which will be expanded to $100 billion. Russia has agreed to provide $2 billion from the federal budget for the bank over the next seven years.
The money will be used to finance development projects in emerging economies. India will serve as the first five-year rotating president, and the first Chairman of the Board will be Brazilian.
The Asian Bank for Infrastructure Investment (AIIB), established in 2014 by China, will finance infrastructure projects like the construction of roads, railways, airports in the Asia-Pacific Region.
Its headquarters will be in Beijing. The initial subscribed capital of AIIB will be $50 billion and is planned to be increased to $100 billion.
Dottie Derewicz APRIL 18, 2015 AT 1:48 PM Irrelevant.. why don’t you offer the links for what you are offering as fact? Without there is no way of telling if your sources have credibility. Without links I can’t even take what you say as being valid.
irrelevant111 APRIL 18, 2015 AT 6:10 PM One source, zerohedge.com n many more. All about connecting dots along the road. Best Always
Dottie Derewicz APRIL 19, 2015 AT 12:22 PM I understand Irrelevant and I follow ZH as well, but I do like to read the links that you have used to connect your dots.
I have a site and I always post the links where my conclusions came from. It helps people to know how you come to your conclusions. Thank you Irrelevant
Cramley APRIL 18, 2015 AT 3:06 PM When you’re holding a big position in a certain asset class, you’re going to talk your book and not bad mouth it until you’ve unwound the position.
That’s what the Silk Road and AIIB are about–unwinding the USD position into productive assets.. at first. Remember years ago when China tried to buy Unocal and other assets? USGovt slammed the door saying you have no other option than US debt.
Then China tried IMF reforms Stiffed again
Then Trevor Manuel from South Africa was passed over for the empty pant-suit Christine. That’s when China knew it was on its own and would have to devise a parallel system while continually accumulating USTs.
Now with such an inventory of reserves and alternate avenues of investment, China is like a primary dealer at the beginning of the USTreasury supply chain. It’ll extract the most value as these securities trickle back to the West.
Roger Parness APRIL 18, 2015 AT 5:23 PM I suppose we Americans also have hopes of unwinding our dollar positions. As a US wage earner/debt slave I’d like to know where to put savings to weather the storm.
Cramley APRIL 19, 2015 AT 3:29 PM Roger, just do what Russia is doing. Putin reopened the gold window last year..Funny how Ukraine went hot last year.
The fun begins around 13min mark
[audio src="http://ift.tt/1OxOjqN" /]
Check out how Russia has run down dollar reserves and upped gold holdings.
http://ift.tt/1m8Pi4G
irrelevant111 APRIL 18, 2015 AT 10:27 AM Education n a touch of humor…:)
http://ift.tt/1OxOmmi
Bruno de Landevoisin APRIL 18, 2015 AT 2:12 PM The current ill-advised monetary regime effectively prevents the real economy on the ground from realizing the normalization of free market forces required for genuine capital formation, derived from entirely productive and actually earned savings, the very life blood essential to generating legitimate and sustainable economic growth.
Capital misallocations are everywhere, spawning like poisonous mushrooms on mounds of monetary defecation.
Roger Parness APRIL 18, 2015 AT 4:24 PM New World Odor.
Bruno de Landevoisin APRIL 18, 2015 AT 11:08 PM :o))))))))))))))))))))))
Cramley APRIL 18, 2015 AT 7:20 PM One of the pillars of the USD hegemony is control of the vital sea lanes. If commodity transactions are to be priced in RMB then China must be the top cop in the South China Sea. And now the Philippines speak:
http://ift.tt/1bbszVB
hugovictor54 APRIL 19, 2015 AT 1:11 AM Does this look familar?
http://ift.tt/1Jgvwyt
http://ift.tt/1G1aNhV
http://ift.tt/1IqKWjq
, and SDR’s come to the rescue? Jack
Susan Morris APRIL 19, 2015 AT 4:05 AMMore and more people are seeing the light, but what can we do about it?
http://ift.tt/1ITWRd7
cadwaladr APRIL 19, 2015 AT 5:32 AM “Daily Telegraph,” London: IMF tells regulators to brace for global liquidity shock
http://ift.tt/1J4Ps7g As AE-P says, “The IMF does love to keep us awake at night.”
Dottie Derewicz APRIL 19, 2015 AT 12:30 PM Just another step in the process..
http://ift.tt/1Q9o3qh
beachdude2 APRIL 19, 2015 AT 3:33 PM So IMF Plan B then? Seems Congress is still holding out.
“A number of countries directed criticism toward the U.S. for the failure of Congress to pass legislation needed to put into effect reforms that would boost the agency’s capacity to make loans and increase the voting power of such emerging economic powers as China, Brazil and India.”
http://ift.tt/1HlOa9n
http://ift.tt/1OxOmmi
Bruno de Landevoisin APRIL 18, 2015 AT 2:12 PM The current ill-advised monetary regime effectively prevents the real economy on the ground from realizing the normalization of free market forces required for genuine capital formation, derived from entirely productive and actually earned savings, the very life blood essential to generating legitimate and sustainable economic growth.
Capital misallocations are everywhere, spawning like poisonous mushrooms on mounds of monetary defecation.
Roger Parness APRIL 18, 2015 AT 4:24 PM New World Odor.
Bruno de Landevoisin APRIL 18, 2015 AT 11:08 PM :o))))))))))))))))))))))
Cramley APRIL 18, 2015 AT 7:20 PM One of the pillars of the USD hegemony is control of the vital sea lanes. If commodity transactions are to be priced in RMB then China must be the top cop in the South China Sea. And now the Philippines speak:
http://ift.tt/1bbszVB
hugovictor54 APRIL 19, 2015 AT 1:11 AM Does this look familar?
http://ift.tt/1Jgvwyt
http://ift.tt/1G1aNhV
http://ift.tt/1IqKWjq
, and SDR’s come to the rescue? Jack
Susan Morris APRIL 19, 2015 AT 4:05 AMMore and more people are seeing the light, but what can we do about it?
http://ift.tt/1ITWRd7
cadwaladr APRIL 19, 2015 AT 5:32 AM “Daily Telegraph,” London: IMF tells regulators to brace for global liquidity shock
http://ift.tt/1J4Ps7g As AE-P says, “The IMF does love to keep us awake at night.”
Dottie Derewicz APRIL 19, 2015 AT 12:30 PM Just another step in the process..
http://ift.tt/1Q9o3qh
beachdude2 APRIL 19, 2015 AT 3:33 PM So IMF Plan B then? Seems Congress is still holding out.
“A number of countries directed criticism toward the U.S. for the failure of Congress to pass legislation needed to put into effect reforms that would boost the agency’s capacity to make loans and increase the voting power of such emerging economic powers as China, Brazil and India.”
http://ift.tt/1HlOa9n
Safety Fishnet (@SafetyFishnet) APRIL 19, 2015 AT 5:49 PM I’ve just seen the transcript of Zhou Xiaochuan’s(Governor of Chinese CB) IMFC speech and IMF’s website and it includes an elaboration of the widely-anticipated of the capital account convertibility of RMB.
I guess this stops claims that RMB will not be included in the next SDR basket because of capital account convertibility. The below paragraph explains all, the best we can do to interpret this is to think in terms of the new financial framework.
“It is worth noting that the concept of capital account convertibility has changed since the global financial crisis. The capital account convertibility China is seeking to achieve is not based on the traditional concept of being fully or freely convertible. Instead, drawing lessons from the global financial crisis, China will adopt a concept of managed convertibility.
After achieving RMB capital account convertibility, China will continue to manage capital account transactions, but in a largely transformed manner, including by using macroprudential measures to limit risks from cross-border capital flows and to maintain the stable value of the currency and a safe financial environment. China will retain capital account management in the following four cases:
First, cross-border financial transactions that involve money laundering, financing of terrorism, as well as those that overly exploit tax havens will be subject to monitoring and analysis. This is a practice widely adopted by most countries.
Second, macroprudential management of external debt remains necessary in emerging market economies. Excessive foreign debt in
the private sector and significant currency mismatches were the origins of the Asian financial crisis. Countries need to learn the lesson from the crisis, and macroprudential measures could be used to manage their external debt when necessary.
Third, China will manage short-term speculative capital flows when appropriate, while lifting controls on the medium- and long-term capital flows that support the real economy. This is also a recommendation by the Fund.
Fourth, balance of payments statistics and monitoring will be strengthened. As suggested by the Fund after the global financial crisis, countries may adopt temporary capital control measures when there are abnormal fluctuations in the international markets, or there are balance of payments problems.”
Here’s the link to the transcript : http://ift.tt/1Q9o0L8
irrelevant111 APRIL 20, 2015 AT 1:41 AM Humor still abides…
http://ift.tt/1wodQZF
I guess this stops claims that RMB will not be included in the next SDR basket because of capital account convertibility. The below paragraph explains all, the best we can do to interpret this is to think in terms of the new financial framework.
“It is worth noting that the concept of capital account convertibility has changed since the global financial crisis. The capital account convertibility China is seeking to achieve is not based on the traditional concept of being fully or freely convertible. Instead, drawing lessons from the global financial crisis, China will adopt a concept of managed convertibility.
After achieving RMB capital account convertibility, China will continue to manage capital account transactions, but in a largely transformed manner, including by using macroprudential measures to limit risks from cross-border capital flows and to maintain the stable value of the currency and a safe financial environment. China will retain capital account management in the following four cases:
First, cross-border financial transactions that involve money laundering, financing of terrorism, as well as those that overly exploit tax havens will be subject to monitoring and analysis. This is a practice widely adopted by most countries.
Second, macroprudential management of external debt remains necessary in emerging market economies. Excessive foreign debt in
the private sector and significant currency mismatches were the origins of the Asian financial crisis. Countries need to learn the lesson from the crisis, and macroprudential measures could be used to manage their external debt when necessary.
Third, China will manage short-term speculative capital flows when appropriate, while lifting controls on the medium- and long-term capital flows that support the real economy. This is also a recommendation by the Fund.
Fourth, balance of payments statistics and monitoring will be strengthened. As suggested by the Fund after the global financial crisis, countries may adopt temporary capital control measures when there are abnormal fluctuations in the international markets, or there are balance of payments problems.”
Here’s the link to the transcript : http://ift.tt/1Q9o0L8
irrelevant111 APRIL 20, 2015 AT 1:41 AM Humor still abides…
http://ift.tt/1wodQZF
deejj87 APRIL 20, 2015 AT 1:51 AM “Qatar has opened the Middle East’s first centre for clearing transactions in the Chinese yuan, saying it would boost trade and investment between China and Gulf Arab economies.
“The launch of the region’s first renminbi clearing center in Doha creates the necessary platform to realise the full potential of Qatar and the region’s trade relationship with China,” Qatar’s central bank governor Sheikh Abdullah bin Saud al-Thani said at a ceremony.
“It will facilitate greater cross-border renminbi investment and financing business, and promote greater trade and economic links between China and the region, paving the way for better financial cooperation and enhancing the pre-eminence of Qatar as a financial hub in MENA (Middle East and North Africa).”
Industrial and Commercial Bank of China’s (ICBC) Doha branch is the clearing bank for the centre, which intends to serve companies from around the Middle East.”
http://ift.tt/1OxOkuU
Oh the narrative keeps on coming…
I have a hunch some articles that are unveiled now was written years ago…
irrelevant111 APRIL 20, 2015 AT 3:40 AM War is hell…
http://ift.tt/1OxOkuV
irrelevant111 APRIL 20, 2015 AT 3:50 AM Try this
http://ift.tt/1Q9o3qp
http://ift.tt/1OxOkLa
“The launch of the region’s first renminbi clearing center in Doha creates the necessary platform to realise the full potential of Qatar and the region’s trade relationship with China,” Qatar’s central bank governor Sheikh Abdullah bin Saud al-Thani said at a ceremony.
“It will facilitate greater cross-border renminbi investment and financing business, and promote greater trade and economic links between China and the region, paving the way for better financial cooperation and enhancing the pre-eminence of Qatar as a financial hub in MENA (Middle East and North Africa).”
Industrial and Commercial Bank of China’s (ICBC) Doha branch is the clearing bank for the centre, which intends to serve companies from around the Middle East.”
http://ift.tt/1OxOkuU
Oh the narrative keeps on coming…
I have a hunch some articles that are unveiled now was written years ago…
irrelevant111 APRIL 20, 2015 AT 3:40 AM War is hell…
http://ift.tt/1OxOkuV
irrelevant111 APRIL 20, 2015 AT 3:50 AM Try this
http://ift.tt/1Q9o3qp
http://ift.tt/1OxOkLa
via Dinar Recaps - Our Blog http://ift.tt/1OxOmCQ
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