» 12/12/2008, 00.00
Russia devalues ruble, squeezed by lower oil prices
It is the fifth devaluation since of November 11, and experts predict that it will fall even further over the next year. The exchange rate is also feeling the effects of the war in Georgia, and of the global crisis that has led foreigners to remove 200 billion dollars in investments.
China increases its gold reserves
Experts maintain that Beijing wants to increase its gold reserves to 5,000 tons, to protect itself from the global crisis and the possible devaluation of the dollar. It now has about 31 billion dollars worth of gold, but foreign currency reserves of 1.95 trillion.
03/01/2009 ASIA - CHINA - U.S.
Chinese yuan set to replace dollar
Beijing has launched the experiment of using the yuan as a reserve currency in relations with 8 countries. Chinese exporters are asking to charge in yuan instead of dollars, because the U.S. currency is losing value. But China needs to revise its model of development, too much inspired by eighteenth century mercantilism.
Russian leaders exploit crisis to increase their power
Heavy subsidies, especially for state-run companies already controlled by the leaders, and greater presence of the government, which is "buying" participation or key posts in business. But if the crisis continues, Moscow could have problems.
China is in good shape, but must not underestimate the global crisis
The director of China's central bank, Zhou Xiaochuan, illustrates the situation in the country and the possible strategies for addressing it. Beijing is demonstrating caution in anticipation of seeing how significantly the worldwide crisis might strike it, but is confident that it will be able to continue its rapid growth.
31/10/2008 CHINA - CENTRAL ASIA - RUSSIA
China wants to be stabilizing force for central Asia
Prime Minister Wen, in Astana for the summit of the Shanghai Cooperation Organization, proposes more cooperation and the creation of an extensive infrastructure network, including for energy. On the strength of its currency reserves, it wants to expand its connections with neighboring states, and take advantage of their resources.
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