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Imagine a world where China has supplanted the United States atop the world economy, and the renminbi, not the greenback, is the global reserve currency. This scenario would be disastrous for US citizens, businesses, and allies. Given America's record high debt and unsustainable spending, reduced demand for dollar assets would cripple the US economy. The government would be forced to cut public...

According to the company's draft red herring prospectus (DRHP), Prosus invested nearly Rs 9,055 crore ($1.07 billion) in the online food platform and made Rs 26,927 crore ($3.2 billion) in IPO, thus netting a $2.12 billion profit from its investment.

Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy.

Shares are mixed in Asia after a lackluster finish on Wall Street following a report showing an uptick in inflation in the U.S. last month.

Interest rate policy divergence is a re-emerging threat for the Canadian dollar

Meanwhile, the dollar index was trading lower by 0.04 per cent at 105.98

Rupee weighed down by foreign fund outflows, domestic equities

Global uncertainty, weak domestic economy pushing gold, rupee and equity

Donald Trump’s policies risk making the US dollar a source of global instability Expert comment LToremark 13 November 2024

Although Trump favours a weaker exchange rate, his policies are likely to have the opposite effect. The risk is that the US dollar could become too strong, which is bad news for the global economy.

President-elect Donald Trump has a dollar problem. In recent months he has shown a clear preference for a weaker exchange rate to support the competitiveness of US exports and help reduce the US trade deficit. And yet, as the market has sensed since the US election, the much more likely outcome is that his policies end up strengthening the greenback. The risk is that the US dollar – which is expensive already – becomes more obviously overvalued, and this could increase the risk of global financial instability. 

The dollar has been on a rollercoaster ride in the past few decades. From 2002 until 2011, for example, the dollar weakened by around 30 per cent in inflation-adjusted, trade-weighted terms, according to BIS data. Yet in the years since 2011, the dollar has strengthened and is now at a more appreciated level than at any time since 1985.

What shapes this rollercoaster, broadly speaking, is the global balance of economic vitality: when the US economy gains momentum relative to the rest of the world, the dollar tends to strengthen; and vice versa. 

After China joined the WTO in 2001, the balance of economic vitality shifted decisively away from the US, in favour of China and other emerging economies. This was the decade of the commodity boom: the longest, biggest peacetime increase in commodity prices in nearly 200 years during which a sustained surge in China’s economy supported GDP growth across the developing world. The dollar weakened as a result.

But after 2011, a combination of factors – including the eurozone crisis and its aftermath, together with the sagging of the Chinese economy – tipped the balance of economic vitality back in favour of the US. The dollar strengthened once again.

And since both the European and Chinese economies remain very fragile, the balance of economic vitality seems likely to keep favouring the US dollar.

Two more considerations also point to a stronger US dollar under a second Trump administration.

The first is the exchange rate implications of Donald Trump’s proposed tariffs on imports. When the US imposes tariffs on a trading partner, the foreign exchange market tends to sell that trading partner’s currency, forcing it to weaken to offset the dollar-price increase induced by the tariff. This helps explain why the Chinese renminbi depreciated by some 10 per cent in 2018 after Trump began imposing trade restrictions on China in January of that year. 

More widespread tariffs on a whole range of US trading partners should therefore strengthen the dollar more broadly.

A stronger dollar should also result from the macroeconomic framework Trump seems likely to deliver. He will certainly want to extend his 2017 tax cuts beyond 2025 when they are currently due to expire, so a more sustained loosening of US fiscal policy seems likely. Since boosting the US economy will create inflationary pressure, the market will expect interest rates to end up higher than they might otherwise be. The resulting combination of looser fiscal and tighter monetary policy tends to be a stronger currency.

The dollar probably has a fair amount of room to keep going up, since it is not obviously overvalued just yet. The US current account deficit – the broadest measure of a country’s trade deficit, and a rough but useful measure of financial vulnerability – was a little over 3 per cent of GDP last year. 

This is around half the level it reached in 2006, just before the 2008 global financial crisis, meaning the risks arising from an overvalued dollar may be for the latter part of Trump’s second presidency.

A strengthening dollar is also not great news for the rest of the world economy. A strong dollar tends to depress global trade growth, restrict developing countries’ access to international capital markets, and make it more difficult for countries whose currencies will be weakening to keep inflation under control.

If and when the dollar becomes unsustainably expensive, a further problem will present itself: how to deal with an overvalued currency without risking a lot of financial dislocation.

This problem last occurred in early 1985, when the dollar was universally reckoned to be dangerously dear. At that time the US was able to call on trading partners who depended on the US security umbrella – the UK, Germany, France and Japan – to negotiate the ‘Plaza Accord’, which coordinated a series of interventions in the foreign exchange market that allowed the dollar to decline in a measured way.  

It is virtually unimaginable that something similar could be negotiated today, not least because Chinese policymakers believe that the post-Plaza strengthening of the yen in the late 1980s led to an economic disaster for Japan. Beijing will not play ball.

Without much scope for a negotiated decline in the dollar, more chaotic alternatives seem likely. 

One is that the market decides suddenly that it no longer has an appetite for expensive dollar-denominated assets, and this might lead to a messy adjustment in the foreign exchange market. 

Today, L&T technology Services Limited, an ER&D service provider to myriad technology continuum, inked a multi-million dollar contract with a giant global semi-conductor company.

Forex traders said the USDINR pair has shown significant volatility in recent sessions, with the rupee inching closer to its all-time low of 84.4

At the interbank foreign exchange, the rupee opened at 84.40 against the U.S. dollar

Published at LXer: There are plenty of people who do not actually understand AI and open-source (or its licensing). But, they choose to jump on using those terms to market their products somehow...

The good folks from Trinity CineAsia have sent us details of an up coming cinema release. Detective Conan: The Million-Dollar Pentagram is d...

I have a saying… It’s a saying that has been in my head ever since I did my 1st million dollar run… And that is… “Do what you fear and the money will follow” I still say this all the time. It give me courage. Especially… When a new opportunity presents it’s self. I tell […]

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Theres good news on the horizon for podcast revenue growth, and presumably for radio organizations that are active in that space.

With expected growth of 14.7% through 2020, the stage has been set for podcast revenues to hit $1.1 billion in 2021, according to the IAB/PwC report.

While it remains to be seen what long-term impact the pandemic has on podcast revenues, IAB/PwC still predicts a 15% jump in 2020. This comes after podcast ad revenues soared 48% between 2018 and 2019, a stunning growth rate.

State CIO J. Clark Kelso wants to make government more accessible to the citizens of California. In an interview with Information Week's Eric Chabrow, (Nov 22, 2004), Kelso announced, "We need to start changing the inefficeinent way we provide services." The state spends between $2 billion and $4 billion annually on IT.

Kelso is the author of the "California State Information Technology Strategic Plan" (PDF), a 5-year plan presented this month to Governor Arnold Schwarzenegger.

The Plan follows a more lengthy report issued in August by the California Performance Review Commission. The Commision was charged by Gov. Schwarzenegger with figuring out how to make state government work better and cheaper. Among the ideas in the panel's $32 billion cost-cutting recommendations: favoring open-source software over proprietary alternatives for new IT purchases.

The report, titled Government for the People for a Change, is a 4-volume study with recommendations including recommendations to "Explore Open Source Alternatives." "The state should more extensively consider use of open source software," it recommends, "which can in many cases provide the same functionality as closed source software at a much lower total cost of ownership."

The CIO's most recent plan to bring efficiency to California Information Technology promotes six strategic goals including three that could be facilitated by open source RSS syndication:

• Make Government services more accessible to citizens and State clients.


• Implement common business applications and systems to improve efficiency and cost-effectiveness.


• Lower costs and improve the security, reliability and performance of the State's IT infrastructure.

Unfortunately, there is no mention of RSS news feeds or xml syndication anywhere in the plan.

California prides itself as the world's fifth largest economy, but in the world of providing syndicated news and services, it lags behind Rhode Island and Delaware. Social Commentator Jamais Cascio writing in WorldChanging wryly observes, "Some states that you'd think would be technologially on the ball (California, for example) have few if any feeds, while other locations are swimming in them."

On the 15th of January 2008 the domain name Groupon.com went live for the first time. 2008 was also the year that IndieGogo became one of the first ‘crowdfunding’ websites. A year later, the biggest rivals of each would launch in the form of Living Social and Kickstarter. At the start of 2012 Uber – […]

The post How to Steal the Next Billion Dollar Website Idea: A Case Study appeared first on ViperChill.

Fr. Evan Maximiuk from the Ukrainian Orthodox Church of Canada (UOCC) is the guest speaker at this year's Hallelujah Night (Halloween alternative event).

I’ve been getting a lot of questions about the marketing strategies I use to promote the book. In a previous podcast, I broke down the launch of Million Dollar Weekend (Spotify – iTunes). Today, I want to break down the 3-part system I’m using to continue 24/7 marketing my book after launch. 1- Exposure – […]

The post Million Dollar Weekend crossed 100,000 sales!! appeared first on Noah Kagan.

Today I’m pumped to share the unusual story behind how Marc Ecko turned his love of street art into a billion dollar clothing company. You see, like most artists, he got the “itch” early on, but he abandoned his craft for a much more stable career move – pharmacy school. He didn’t last long though, […]

Wales head coach Warren Gatland is unsure if returning fly-half Gareth Anscombe could make it through to the 2027 World Cup.

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar today despite the US Dollar Index’s (DXY) strengthening, which should accelerate demand for the greenback.

At 8 am, the local note traded slightly better at 4.4330/4465 against the greenback compared with Tuesday’s close of 4.4365/4400.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said higher demand for the US dollar is expected as comments from US Federal Reserve (Fed) officials indicated that the prospect of an interest rate cut highly depends on upcoming economic data.

“Minneapolis Fed president Neel Kashkari suggested that he will look at the upcoming inflation data before making any decision on the interest rate.

“As such, ringgit and other emerging market currencies will likely stay weak in the near term,” Mohd Afzanizam told Bernama.

He added investors will monitor the US Consumer Price Index (CPI) print tonight, with consensus pencilling in a 2.6 per cent rise in October from 2.4 per cent previously, while Core CPI may be sustained at 3.3 per cent.

At the opening, the ringgit traded higher against a basket of major currencies.

It was higher against the British pound at 5.6463/6635 from 5.6889/6934 at Tuesday’s close, better against the euro to 4.7061/7204 from 4.7111/7148 and firmer against the Japanese yen to 2.8661/8752 from 2.8788/8812.

The ringgit also traded higher against ASEAN currencies.

Against the Thai baht, it rose to 12.7162/7637 from 12.7456/7608 at Tuesday’s close and strengthened against the Singapore dollar at 3.3107/3210 from 3.3143/3174.

The local unit marginally increased vis-a-vis the Philippine peso to 7.53/7.56 from 7.54/7.55 and was slightly higher against the Indonesian rupiah to 280.8/281.9 from 281.0/281.5 previously.

Josh and his wife, Leslie, revolutionized their family business by following key biblical principles. Discover the power of faith-driven entrepreneurship and see how God's blessings know no bounds when entrusted to obedient hearts and hands.

Learn how manufacturers and other vendors can provide value to your business beyond that of hardware and services. 

Tongues-talking movie-mogul Tyler Perry, whose Christian values have been criticized by fans over the years, has come under scrutiny again after he was caught on video raining fake money on a stripper at R&B singer Usher’s Past Present Future Tour in Atlanta, Georgia, on Sunday.

The accession of new territories to Russia is justifiable from the economic point of view and will not have a negative impact on the Russian budget, the Kremlin said. As Russia readies to grow even larger, experts try to calculate how much it will cost the Russian budget to rebuild cities and restore peaceful life in the new territories. Some others try to find out how much profit the new territories will bring. The Washington Post announced the approximate cost of mineral deposits in the new regions — about 12.4 trillion dollars.

Frances Hall, former co-owner of Bill Hall Jr. Trucking, has been sentenced for her role in a scheme to avoid $9 million in workers’ compensation premiums.

Russians should start selling dollars and buy euros, yuan and gold instead, businessman Oleg Deripaska believes. In his recent post on Telegram, Deripaska reacted to the statement from the author of the best-selling book "Rich Dad Poor Dad" Robert Kiyosaki about the future economic crisis in the United States. Kiyosaki, who predicted the collapse of Lehman Brothers in 2008, encouraged investors to buy more gold, silver and bitcoin. In his post, Deripaska published a link to Kiyosaki's interview with Fox Business.

[Economy] :
The South Korean won weakened past the psychological threshold of 14-hundred won against the U.S. dollar on Tuesday, after Donald Trump’s victory in the U.S. presidential election last week.  The South Korean currency traded at 14-hundred-point-seven won per dollar as of 9:05 a.m. Tuesday, six won more ...

[more...]

[Economy] :
The South Korean won weakened past the psychological threshold of 14-hundred won against the U.S. dollar on Tuesday, after Donald Trump’s victory in the U.S. presidential election last week.  The South Korean currency traded at 14-hundred-three-point-five won per dollar as of 3:30 p.m. Tuesday, ...

[more...]

I didn't know anything about these topics until a couple of weeks ago. Now I can't stop thinking about them.... read more >>

Medication errors are among the most common medical errors, harming at least 1.5 million people every year, says a new report from the Institute of Medicine of the National Academies.

Lack of representation in research is compounding disparities in health outcomes, with serious consequences for underrepresented groups and the nation as a whole. Urgent actions are needed by NIH, FDA, and others to boost representation of racial and ethnic minority groups and other underrepresented populations in clinical trials and research.

Many companies are still refining how they’ll safely bring employees back to the office. Yet not every business can operate with a 100 percent remote workforce. For some, essential employees need to be onsite at all times. Ampirical is one of those businesses.

The retailer has struggled for years to comply with OSHA safety regulations

A recent report from the Private Label Manufacturers Association (PLMA) shows that consumers were more intrigued by store brands in the past year.

Inflation has accelerated the trend of higher-income consumers shopping at dollar stores, experts report.

Claiming your vision insurance before the end of the year allows customers to save on prescription eyewear and start the new year with clear vision thanks to SmartBuyGlasses

Specializing in audio content, Dollarcasts.com is easy-to-use and affordable for any user looking to expand their skills.

New trends in sports and health products

Fusion's Research Uncovers Opportunity in Produce Segment

The Corporate Whistleblowwer Center says, "If your bank-employer was involved in bigger Paycheck Protection Program Loans in 2020-2021 and there was no due diligence on the loans, give us a call at 866-714-6466 to discuss whistleblower rewards."

My Cool Inventions Radio Show is looking for the next 100 million dollar product. Television hosts Akos Jankura "The Solutionist" and John Cremeans "The Doctor of Shopology" are taking submissions of inventor's ideas.