US 2016 Election: Will US-China Relations Change

US 2016 Election: Will US-China Relations Change

photo: DonkeyHotey After one of the most degrading races in postwar history, US presidential campaigns are getting still dirtier. But will US-China relations change? As Wikileaks has disclosed information about Hillary Clinton’s email and Benghazi scandals and deep ties with Wall Street, her campaign, with its cozy media relations, is promoting Donald Trump’s obscene tapes and […]

China’s International Renminbi Is Coming – Is Wall Street Ready?

China’s International Renminbi Is Coming – Is Wall Street Ready?

photo: Craig Engleson On October 1, the Chinese renminbi officially joins becomes the fifth international reserve currency. Until recently, Washington played geopolitics to defer the renminbi’s internationalization. But what about Wall Street? On October 1, 2016, the Chinese renminbi (RMB) will officially join the International Monetary Fund’s (IMF) international reserve assets; that is, the SDR (Special […]

Japan’s Impending Monetary Exhaustion

Japan’s Impending Monetary Exhaustion

  photo: Jordon Cheung Japan’s monetary gamble and Abenomics are approaching the end of the road. Neither Brussels nor Washington is immune to the adverse consequences of Tokyo’s monetary exhaustion, says Dan Steinbock. Recently, Japan’s second quarter GDP growth was revised up to 0.7 percent, after four consecutive quarters of stagnation. But don’t set your hopes […]

Overcoming the Second Steel Crisis

Overcoming the Second Steel Crisis

  photo: David Clow Today, advanced economies blame China for steel overcapacity. In reality, four decades ago Washington and Brussels opted for bad policies, which China seeks to transcend. In the G20 summit in Hangzhou, some world leaders had harsh words for China’s steel overcapacity. Before the summit, President Barack Obama was urged by US lawmakers, […]

G20: Overcoming Protectionism, Emerging Growth

G20: Overcoming Protectionism, Emerging Growth

  In Hangzhou, China began the push for G20 to overcome protectionism and fuel global growth prospects. That is vital to reverse stagnation in advanced economies and slowdown in emerging nations. On September 4-5, the leaders of the G20 economies met in Hangzhou. The summit had great symbolic importance that was easily understood in emerging […]

The Duterte Whirlwind: The Reawakening of the Philippines

The Duterte Whirlwind: The Reawakening of the Philippines

photo: canencia The new Philippine president is waging a tough drug war, pushing economic growth domestically and greater pragmatism in foreign policy that could contribute to Southeast Asia’s future. Internationally, Rodrigo Duterte, the new president of the Philippines, has been portrayed as a “dangerous populist”. That’s a gross caricature. In the elections, he leaned on the […]

What If Clinton Wins

What If Clinton Wins

photo: Getty Images According to polls, the race to the White House is over. Clinton has won, Trump has lost. If that proves the case, US economic erosion will slow but imperial foreign policy may escalate, which has critical repercussions in Asia. The polls reflect the new status quo. Despite her high unfavorability ratings, Clinton […]

Italy at the Brink: From Renzi’s Referendum to Italexit?

Italy at the Brink: From Renzi’s Referendum to Italexit?

photo: Davide Oliva Europe’s Summer of Discontent                                In the aftermath of the Brexit tensions, Italy is defying Brussels to bail out troubled banks and preparing for constitutional referendum in October. If Prime Minister Matteo Renzi fails to achieve adequate support, economic destabilization will shift from the UK to Italy – which could […]

Monetary Exhaustion Means Rising Gold Prices

Monetary Exhaustion Means Rising Gold Prices

As non-traditional monetary policies in advanced economies are likely to eclipse, investors will increasingly turn to gold to hedge their portfolios. Around mid-April, when the price of gold was still about $1,290, I made a contrarian projection that gold had a bright, though bumpy future. Since then, gold price has climbed to $1,365 – which […]