Alert: China to Issue Renminbi Bonds Internationally

Economic Policy Journal ^ | 9/8/'09 | Robert Wenzel

[FromLori]

It's only a first step but, this is big. A new player has entered the ring to compete against the dollar and Treasury securities.

China’s finance ministry said China will issue Rmb6bn ($879m) of bonds in Hong Kong on September 28, in a move to “improve the international status” of the currency and to help mainland companies raise funds in the offshore bond market, according to FT.

[Ravi]

Very interesting. More dollar flight perhaps?

[AussieJoe]

It’s starting to look more and more like China is the new world’s superpower... or at least soon will be.

[2banana]

From a country that has defaulted on its currency and bonds at least 5 times in the last 100 years. Risk baby, risk.

[FromLori]

http://www.economicpolicyjournal.com/2009/09/international-flight-to-gold.html

[FromLori]

http://www.economicpolicyjournal.com/2009/09/international-flight-to-gold.html

[Paul Ross]

All it would take for the yen to improve internationally, is if the Chinese stopped subsidizing its peg to keep it down. And btw, as noted here:

http://seekingalpha.com/article/155399-how-china-s-dollar-peg-keeps-oil-prices-high

...the Chinese...without ANY announcement have ended their controlled float of the yuan. The Peg is back in full force.

[pissant]

Yuan, not yen

[SaraJohnson]

Sadly, we are headed where China used to be. Thanks to our stupid politicians following our evil politicans.

[Paul Ross]

Yup, you’re right...or the renminibi...