Comments
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BPinternationalizing the currency and "its over"? I don't think she knows what she is talking about there. The yuan denominated gold and oil contracts are a step to internationalizing the currency. And the one belt one road project is a massive step away from the USD.
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BPan average analysis really. No understanding of the role of currency, current and capital accounts. Of course you would know about a collapse in China. You'll see it either in assets or the currency, and looking at the relatively small public balance sheet, you'll see it in the currency.
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JDNeed someone (Anne?) to talk about the Congress announcements in November
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VMCentralization tends to distort markets since "all regions / companies" are treated the same. Just like the US, the feds have distorted the markets by their actions and government regulation often gets it wrong with one size fits all. Love how the elites , no matter where they are, always seem to avoid the chaos and costs. Great piece....
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JCVery informative. Definitely a more even-keel review of China. Contrast this with the RV Publications piece which was more like a hedge fund case for China. Am sure China will end up ok but seems like a lot of short to medium term hurdles are in place and that massive debtload will absolutely crimp growth at some point.
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PJExcellent interview hope you get her back in a year or so
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WMGood interview but the hand held camera shots need to stop, just use a tripod
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DP"out of my paygrade" when asked about the China Japan relationship. Hats off to a very humble person who knows her own limits. Gives a whole new layer of value to the rest of her conversation.
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TWHave to echo ... great interview. Smart smart lady.
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RMFascinating interview, she is a really sharp lady! She also did a nice interview with Demetri Kofinas which gave us a little more of her background and history. Worthwhile to listen to also: http://www.hiddenforcespod.com/ep-16-chinese-economy-chinese-financial-system/
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DYGood interview. All I've heard about is how China is going to be the new superpower. With debt to GDP at more than 260% (and it's probably more), I can't see how this is possible. It really reminds me of the 80's when Japan was going to be the next superpower, and they were buying assets all over the world. Their economy is nothing more than a bad joke now. The Chinese really suffer from small man syndrome. They want the biggest buildings, the biggest economy, the biggest dams etc. It's all about ego and saving face. When their big debt bubble burst there is only one way that China is going to go, and that's down.
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SBExcellent! My biggest take-away was that China has decided that they do not want to host a reserve currency (let alone rival the US for that status). That might also explain why we now see fewer indications of a move towards the SDR as the worlds next reserve currency. So what does that mean for the world? The US$ finds new and unexpected support as the worlds reserve currency? Possibly, but seeing as China is now buying oil in Yuan, unlikley. Does this therefore lend credibility to the theory that China now favors a move towards a gold backed trade note for international trade? Thoughts?
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ZHTo many people in the bear china trade now, just seems like too hard to bet against such a huge global player that doesnt have to play by same rules as North America.
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RWSounds like Xi is on board for the Fabian plan to me. Trump left in the dust.
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SSVery confident interview which cleared the fog of misperception around currency, politics and business. Great questions Grant. Well done!
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GBPretty good. When is SImon Hunt coming back on? U should really have him on soon well before CCPC in Nov.
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JVExcellent interview. The simple reality, seen with intelligence and spoken with clarity and calmness, is always so refreshing (and of immense value to investors). Look forward to future updates by Anne.
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RMseek commparable people in other countries also.
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RMGreat interview. Use it as a template
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DSA country’s foreign exchange reserves can be simply thought of as its sovereign wealth fund in foreign currencies, gold, IMF drawing rights, etc. It would be great if they were all backed by gold, but already each country is buying/selling all types of foreign exchange assets to the best of its ability. China constantly changes its FX balance and composition, and so are the rest of the countries of the world. It is a tough, complicated world. DLS
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JVTell that dam cameraman to stop jiggling the camera around so much in the conclusion. Only my Nanna who has Parkinsons shakes that much.
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KAIt would be great to hear in a follow-up piece about whether the rumors are true of small/medium-sized USA companies being "encouraged" [via various means] to sell out to Chinese partners. Perhaps even some larger USA companies finding it challenging to do business in China now. Anyone else heard of this?
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RAExcellent interview and the SDR unqualified comment was worth the price of admission. Also the anecdotal arrest and shake down story resonates powerfully, IMO.
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KBGrant:"SDR is a joke." Sure Grant. As if you'd know.
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TSExcellent interview, Grant. This is what I paid for.
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DC"No fraud happens in the US" sentiment conveyed by Grant early in interview...hahaha...made me laugh.