Tag Archives: China

Jim Rogers: Choose Farming for Your Family and Finances

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“If you know a 26-year-old who can get out of the market before the financial industry collapses again, first of all, she’s very smart. I want to meet her. I’d say to her, you better start reading a lot of history next year to temper your enthusiasm. The same result is coming again. Secondly, she should definitely know another language. Finally, she should definitely, if she likes the outdoors, farming or planting, consider agriculture. We’ve had many periods in world history when the financial types have been the center of the universe and many periods when the people who produce real goods are the center of the universe. Well, that’s coming again.”

http://www.thedailybell.com/exclusive-interviews/35910/Anthony-Wile-Jim-Rogers-Choose-Farming-for-Your-Family-and-Finances/

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Chinese loan to Argentina was expected in November

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“A multibillion-dollar currency swap between Argentina and China will launch in November, bolstering the South American country’s diminished foreign reserves, the central bank chief was quoted as saying in a local paper on Sunday.  The swap will permit Argentina to either pay for Chinese imports with the yuan currency or reinforce its hard currency reserves, which have fallen by more than 30 percent this year.  It is part of a loan worth a total $11 billion signed by Argentina’s President Cristina Fernandez and her Chinese counterpart in July, shortly before the Latin American nation defaulted on its debt for the second time in 12 years.”

http://www.reuters.com/article/2014/10/19/argentina-reserves-idUSL2N0SE0JS20141019

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Venezuela mortgaged another $4 billion of its oil exports to China

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“The agreement will raise Caracas’s existing debts to Beijing by almost 25%, to over $20 billion—money that the country may find it increasingly difficult to repay.  China has lent its South American partner more than $40 billion since 2008 to help Caracas shore up its ailing economy, which is expected to slip into a recession this year and has suffered from shortages ranging from medicine to toilet paper. Venezuela has been paying that money back mostly with oil, but that is getting harder to do.  Every day, about 500,000 barrels of Venezuelan oil are exported to China, half of which go to pay off the country’s loans from Beijing.”

http://qz.com/239106/venezuela-just-mortgaged-another-4-billion-of-its-oil-exports-to-china/

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UPS and FedEx Just Got a Major Boost in the Chinese Market

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“The Chinese government’s cabinet has pledged to move toward internationalizing the country’s package delivery industry, signaling new profit potential for United Parcel Service and FedEx as China’s retail sector shifts to online shopping.  The parcel delivery business will be ‘fully opened up’ to ‘create a fair and competitive business environment in which domestic and foreign-financed enterprises receive equal treatment,’ according to a summary of the State Council decision posted late Wednesday on a government Web site. The government is promoting online shopping as a key way to expand the economy’s consumer sector and cut China’s dependency on exports.”

http://www.thestreet.com/story/12891350/1/ups-and-fedex-just-got-a-major-boost-in-the-chinese-market.html

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Visa, Mastercard welcome Beijing’s plans to free bank cards market

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“Visa Inc and Mastercard Inc welcome China’s plans to open up its market for clearing domestic bank card transactions, as they stand to gain access to a growing market worth more than $1 trillion a year.  While China lags behind countries such as the United States in spending on credit, habits are changing fast and the Chinese are increasingly swiping plastic to satisfy their growing appetite for consumer goods.  The State Council, China’s cabinet, said on Wednesday after a weekly meeting that foreign firms that meet its criteria could set up their own clearing companies. It did not provide details. Household debt in China amounted to just 37% of GDP at the end of July, compared with 81% in the U.S.”

http://www.reuters.com/article/2014/10/30/china-banks-clearing-idUSL4N0SO8PM20141030

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Russia, China’s move to abandon dollar receives blowback from SWIFT

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“Although SWIFT is considered to be a European based conduit for global financial transactions between currencies, nearly everyone in the industry knows that it is a U.S. dominated system tied to America’s control over the reserve currency. And as the U.S. continues to attack Russia and her allies with financial war, including sanctions restricting their access to the SWIFT system, on Oct. 6 SWIFT responded to these attacks by publicly announcing they are not in favor of being used to accommodate disruptions to the free flow of currencies between any nation, and that they are not to blame for America’s use of SWIFT to wage economic warfare against another country.”

http://www.examiner.com/article/russia-and-china-s-move-to-abandon-dollar-receives-blowback-from-swift

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Beijing to back United States over new FATCA law against tax evasion

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“Mainland China has been included on a list of jurisdictions co-operating with the United States on a new law to halt tax evasion.  It removes the threat of blacklisting or penalties that had been hanging over Chinese financial institutions. The Foreign Account Tax Compliance Act (Fatca) is a US law that requires financial institutions around the world to provide information on US taxpayers to the US government. The move will enable Beijing to obtain information on mainland Chinese taxpayers in the US, which will help in its fight against tax evasion and corruption. The US authorities will impose a 30% withholding tax on US-related income going through financial institutions that do not comply with Fatca.”

http://www.scmp.com/business/banking-finance/article/1542111/beijing-back-united-states-over-new-fatca-law-against-tax

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China-U.S. Visa Deal a Problem for U.S. Immigration Consultants

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“A deal to ease visa requirements between China and the U.S., combined with Beijing’s crackdown on corruption, spells trouble for the industry serving Chinese who want to emigrate.  That business is already under pressure as countries such as Canada shut down programs that effectively allowed rich people to buy citizenship. China is the top source for investment-based immigration in countries such as the U.S., Canada, Australia, Cyprus and Portugal. Chinese looking to buy permanent residency sometimes pay tens of thousands of dollars in fees to the agencies, which are based in China and overseas.”

http://online.wsj.com/articles/china-u-s-visa-deal-a-problem-for-agencies-helping-chinese-emigrate-1415900300

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U.S., China mutually extend visas to 10 years to boost trade, tourism

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“Under the deal, which the United States will put into effect on Nov. 12, both countries would extend the terms of multiple entry short-term tourist and business visas to 10 years from one year, the White House said in an accompanying statement. Student visas would be extended to five years from one year.  The extension matches what is currently allowed for citizens of nations with close relations with the U.S., such as European countries and Brazil.  A senior U.S. official said the visa agreement would allow the United States to tap into the fast-growing market of Chinese tourists traveling abroad.  It will also make it easier for Chinese businesses and investors to get involved in U.S. projects.”

http://www.reuters.com/article/2014/11/10/us-china-usa-visas-idUSKCN0IU0Q020141110

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China’s stock market finally opens to foreigners

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“Starting on Monday, investors anywhere in the world will able to purchase shares of companies listed on the Shanghai Stock Exchange. It’s yet another sign that China is opening up its economy.  Previously, only a select group of institutional investors that met certain qualifications had access to Shanghai’s $2 trillion market.  The bad news is the new program, known as the Shanghai-Hong Kong Stock Connect Program, is a bit clunky for everyday U.S. investors.  A typical American can only buy shares in Shanghai by first going through a broker in Hong Kong who then must go through the Hong Kong Stock Exchange, which is linked to the Shanghai Exchange.”

http://money.cnn.com/2014/11/11/investing/china-stocks-market-open-up/

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