China’s reforms not enough to arrest mounting debt: Moody’s

China’s structural reforms will slow the pace of its debt build-up but will not be enough to arrest it, and another credit rating cut for the country is possible down the road unless it gets its ballooning credit in check, officials at Moody’s said. The comments came two days after Moody’s downgraded China’s sovereign ratings […]

Ballooning Chinese dollar borrowing a dilemma for index trackers

Record-breaking dollar bond sales from Chinese companies are steadily increasing China’s weight in global indexes, raising concerns about overexposure among investors who track them. Corporates’ rapid move onto offshore bond markets, partly a response to the crackdown on runaway credit growth at home, highlights China’s multi-faceted indebtedness, a growing worry for investors. Overall debt is […]

Venezuela launches fifth forex plan in four years

Venezuela on Tuesday announced a new foreign exchange auction mechanism to complement its currency control system, the fifth such plan in four years by a socialist government that has repeatedly balked at reforming its state-led economic system. The mechanism, known as New Dicom, will offer dollars within a band determined by the central bank, Economy […]

Cruises boom as millions of Chinese take to the seas

Liu Jing wakes at 7, feeds her 84-year-old mother and two-year-old grandson and then spends the day watching the boy play in the playground, with breaks for meals and his afternoon nap and perhaps a little TV in the evening. That’s not unusual for a Chinese retiree, many of whom play an instrumental role in […]