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Nicholas Consonery is an Asia analyst at Eurasia Group. China will not be saving Europe. That scenario was floated as a possible, if not likely, outcome for the G-20 talks last week. But instead Beijing showed that it is, for now, still largely unwilling to shoulder responsibility for fixing the continent’s financial woes. What happened? [...]
Nicholas Consonery is a China analyst at Eurasia Group. Last week Chinese regulators asked the Big Four audit firms (PWC, Deloitte Touche Tohmatsu, Ernst & Young, and KPMG) to recheck their work from 2010 and to report any information on Chinese firms that was shared with international regulators. The move comes on the heels of [...]
Nicholas Consonery is an Asia Analyst at Eurasia Group. Investors purchase credit default swaps (CDS) as a kind of insurance against loans or bonds. If the bond goes into default, then the seller of the CDS is obligated to reimburse the investor who purchased it. CDS products aren’t just used for high-yielding risky bonds that [...]
Nicholas Consonery is an Asia Analyst at Eurasia Group. China’s leadership faces many difficulties these days. Exciting international investors about the Chinese currency, the renminbi, generally isn’t one of them. In fact, the explosion of the offshore renminbi market in Hong Kong since 2010 is perceived as a major success in Beijing. It will probably [...]