In China's latest effort to control capital flight, authorities have banned Chinese citizens from buying property in Hong Kong using their credit cards.The use of Chinese credit cards to pay for a portion of property transactions is widespread in Hong Kong.
Authored by George Friedman via MauldinEconomics.com,
As we wrote about in “China’s Strategy,” East Asia is split into four parts: The Pacific archipelago, the Chinese mainland, the Korean Peninsula, and Indochina. East Asia holds the second and third largest world economies: China and Japan. The relationship between them and the US define modern East Asian geopolitics.
On Friday, we summarized research reports from Deutsche Bank and Bank of America, which came to the same conclusion: the fate of the global economic rebound may be in the hands of the Chinese housing bubble, which through price appreciation has unleashed wealth effect equivalent to twice the annual disposable income of China.
Authored by Daniel Lang via SHTFplan.com,
One day after yesterday's at times painfully uncomfortable first official meeting between Angela Merkel and Donald Trump, it will hardly come as a surprise that during today's G-20 meeting in Baden Baden, Germany- the first for the Trump administration, whose delegation is led by Treasury Secretary Steven Mnuchin - where the dominant topic is trade, and specifically globalization vs protectionism, that a row would break out over how the post-Trump world will deal with trade.