This is really big news. The Andretti family would know how to properly run a Formula One team. I think they would be a better representative for America than the Hass team.
#F1
#China#property developer #Evergrande’s EV unit alerts Hong Kong exchange of its “serious shortage of funds”. Says it has suspended paying some of its operating expenses, some suppliers have suspended supplying for projects.
""China authorities are forcing the available liquidity into the real economy,” said Xiadong Bao, an emerging-markets fund manager at Edmond de Rothschild Asset Management."
In 2007 before the last crisis the one indispensible financial publication was @TheEconomist...
Now in 2021 its arguably @zerohedge...
My god, how the world has changed
...in providing an alt pricing system, rmb denom mkts erode position of dollar at the center of the system, destabilizing the fragile equilibrium and open the door for the US losing its greatest geopolitical asset: the ability to print intnl reserves at will
Keywords being "rmb-denom"
I wonder if anyone in washington understands how rapidly china is reshaping the fundamental flow of capital btwn our 2 nations in ways that will profoundly effect US ability to monetize national debt in the future...
#China to launch more #futures contracts, incl. shipping; int’l RMB-denom commodities futures markets; pilot schemes for IPR securitization; open wider to foreign investors in futures trading. CSRC official says market should grow to influence international pricing, serve China.
... the fact that internationally traded commodities have been traditionally priced in USD has been huge draw for excess dollars created thru infinite US current account deficits and asias currency management...
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#China President Xi vows China will deepen reforms of #stock boards and set up new stock exchange in capital Beijing. Xi makes speech via video for trade in services fair. (Move comes as Beijing looks to push companies to list locally/Hong Kong, restricting IPOs outside China.)