The dollar is the global centerpiece; even the RMB is pegged to it. Despite everything, few people trust another world currency. The prices for China’s trilemma and its strategies. The Summer Palace Yiheyuan in Beijing was completed by the last empress, Ci Xi, shortly before the dynasty’s end, a little over a hundred years ago. […]
The global market: conquer it, banish it, or integrate it. Modern times impose an unprecedented trilemma on China. Beijing may want to fudge it, but there is no way around it. The Chinese Communist Party, like the Holy See, meets challenges from a broad conceptual standpoint. Currently, its currency is not fully convertible, whereas all […]
Reversals are so commonplace in history that for the Mountain to come to Mohamet, sparing him the arduous climb to its holy heights, need cause little surprise. Xi Jinping has come to Washington, where he was lavishly received and duly honored by President Donald J. Trump. Mr. Xi is General Secretary of the Chinese Communist […]
The spread of cryptos and their new uses alongside the traditional US dollar creates new challenges for the global system as debt and inflation mount. The evolution of money is intertwined with that of human beings and, in particular, with their economy, serving as a language that records the good and bad moments of its […]
Internationally, it’s fine; domestically, less so. As issues mount, Beijing should use this lull to address them, or they’ll become impossible. Unless the world goes to hell in the next couple of years. The forthcoming summit between US President Donald Trump and his Chinese counterpart, Xi Jinping, is no G2. They won’t try to divide […]
As oil prices skyrocket amid new wars in Iran and Yemen, a Chinese scholar reconsiders the history of the petrodollar and what could change today. That could be crucial for China. ## I. Before Nixon severed the dollar’s link to gold on August 15, 1971, global oil prices (including in Saudi Arabia) had already been […]
The AfD’s victory stems from many unresolved issues since unification. The President of the Conference of Bishops calls for addressing the cultural and social roots of the problem. The Alternative für Deutschland’s (AfD) overwhelming electoral victory in Saxony-Anhalt casts a long shadow over the stability of German constitutional democracy. The events unfolding in Germany, Europe’s […]
