How exactly does one "hedge" a book of commercial loans — JPMorgan’s traditional banking business — by writing protection on other companies’ paper, thereby gaining loss exposure to these other loans? Here's why calling the trades complex, poorly monitored, and poorly understood is an understatement.
Henry T. Azzam shares his views on economic prospects of the Middle East and North Africa (MENA) region one year after the Arab Spring.
How best can Central and Eastern Europe (CEE) attract more investments from China? This was the theme of a panel discussion at the inaugural Central and Eastern European Investment Conference that took place in Bucharest, Romania.
Social spending is virtually exploding in Japan right now, and at the same time its population is aging. Can the event horizon for a debt crisis be that far off?
Some of the best-known research on financial crises asserts that countries get into trouble when debt-to-GDP ratios surpass 80%. With a national debt that now checks in at roughly 220% of gross domestic product, Japan, at least by rule of thumb, should have collapsed a long time ago. Yet Japan has — thus far — somehow avoided a debt crisis.
K.C. Chan, Secretary for Financial Services and the Treasury, highlighted the fundamental strengths that have contributed to Hong Kong's unique positioning in the global financial marketplace.
Because many emerging markets are either commodity producers or exporters, it seemed likely to me that emerging markets would be beholden to the health of the developed (importing) world — which of course has massive excess debt. While this is certainly true for some markets, I was pleasantly surprised to learn that the scope of opportunity in emerging markets is much larger than I had expected.
Economics professors Carmen M. Reinhart and Kenneth S. Rogoff document that the public and private debts of industrialized nations have grown to unprecedented levels relative to their GDPs. They find that a large public debt burden slows macroeconomic growth, even without explicit sovereign debt default.
Tse Yung Hoi discusses the possible influence that the Renminbi Qualified Foreign Institutional Investor (QFII) and RMB Foreign Direct Investment (FDI) schemes will have on the progress of RMB internationalization after Vice Premier Li Keqiang’s recent visit to Hong Kong and the role that the RMB will play in the global monetary system over the next 5 to 10 years.
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