Gold fever
Article Abstract:
Concerns about gaining a hedge against rising inflation are prompting many Chinese to go to Hongkong to buy gold. In Hongkong on May 25, 1993 the price of gold stood at $380 an ounce, 15% higher than at the year's start. This rise has resulted from and helped to reinforce the rise in demand. India, Burma and the Indochinese countries are also in the midst of a gold boom. However, China's position as Asia's largest buyer of gold gives it the greatest influence on the gold market's future. The country's central bank, the People's Bank of China, is accumulating larger gold reserves.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Stopping the gold rush
Article Abstract:
China's tightening of credit not only slowed down an overheated economy, it halted - and may crash - the real-estate market. Land speculation has been rampant for two or three years, operating on leverage and credit; now, when investors must use more of their own money, the price of land is plunging. Vice-Premiere Zhu Rongii intended his reforms to curb investment in the least productive real estate; they may succeed, but discontent threatens him politically.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Anyone's guess: will China's renminbi continue to strengthen?
Article Abstract:
The renminbi, China's currency, continues to gain against the dollar, but no one is sure why or how long the trend can continue. China's increasing trade surplus could be fueling the rise, according to some. Others point to the 20% inflation rate and the inconsistent and unpredictable actions of the central bank, saying that the renminbi is due for a return to normalcy in the near future.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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