China's once-in-a-decade leadership change has put a new generation in the hot seat, led by Xi Jinping, the president-in-waiting. Last November's congress elevated Xi to secretary-general of the ruling party and head of a seven-man central committee. China's new cabinet will be confirmed next month when the national legislature meets in Beijing, with President Hu Jintao keeping a low profile as he prepares to hand over the baton to his successor. But not everyone is going quietly into the night.
Patrick Chovanec submits:Senior officials of China’s central bank, the People’s Bank of China (PBOC), have left a trail of curious statements over the past month that appears to tell an interesting tale.
Canada’s banks are considering a plan to make Toronto the first North American trading hub for China’s yuan, joining a global race for a share of trading in the currency of the world’s second-largest economy.
It appears there is another nation on planet Earth that is becoming isolated. One by one, Russia and China appear to be finding allies willing to 'de-dollarize'; and the latest to join this trend is serial-defaulter Argentina.