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Although “Hot Money” Flees China the Red Dragon Will Emerge From Financial Crisis Unscathed
On the surface, it appears as though the Chinese economy is suffering along with the rest of the world. The economic crisis that has ensnared Western economies is expected to dampen Chinese exports and there is already evidence of capital flight.
But the real story is that China’s foreign exchange reserves – at $1.9 trillion – remain at an all-time high, and the outflow of capital, or “hot money,” will actually deflate many of the asset bubbles that speculative investment has created over the past several years.
Ultimately, the so-called “global recession” that many analysts have projected as a virtual certainty…
20Oct2008 | Money Morning | 1 comment | ContinuedThe View From China: A World Case Study for Alternative Energy
XI’AN, CHINA – For years, I’ve been telling hushed, incredulous audiences around the world that oil prices were headed higher – much higher.
I consistently list three causes: Supply, demand, and interruption.
The first is obvious – even though most folks still don’t want to believe it. Data suggests we’re burning through the world’s petroleum reserves four times faster than we’re finding new ones. We haven’t had a major new discovery of significance in 30 years. And, adding insult to injury, we still don’t have workable substitutes in place (alternative energy technologies such as fuel cells, for instance), even though we’ve had decades…
2May2008 | Money Morning | Comments Off | Continued
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