Page 7 - Mark Sobel News Today

A helping hand from China saw Argentina avert a default with the International Monetary Fund for the second time in 30 days, as the cash-strapped country tapped almost $3 billion of a Beijing currency swap line to pay the multilateral lender. Accessing yuan to make the payment not only offered a lifeline to Latin America's third-largest economy which is battling an acute scarcity of dollars, it also allowed the Washington-based lender to keep a $44 billion program alive with its biggest si...

LONDON : A helping hand from China saw Argentina avert a default with the International Monetary Fund for the second time in 30 days, as the cash-strapped country tapped almost $3 billion of a Beijing currency swap line to pay the multilateral lender.Accessing yuan to make the payment not only offered a l

Fitch Rating's decision to cut the U.S. government's credit rating represents the latest in a series of blows to the U.S. dollar's international standing and...

The appointment of Pan Gongshen comes at a delicate time for China. But he is used to solving big problems.

Pan Gongsheng’s lack of a power base within the Communist Party may be offset because he commands the top two spots at the central bank.

Pan Gongsheng, who was named governor of the People’s Bank of China after overseeing $3 trillion in reserves, stopped a currency plunge in 2016.

The Chinese were reacting to the get tough policies of the Biden administration

U.S. Treasury Secretary Janet Yellen recently visited China and met with senior Chinese economic and political officials. Mark Sobel, U.S. chairman of the Official Monetary and Financial Institutions Forum, reflects on her trip, and says U.S.-China dialogue on economic and other global issues is imperative. “I believe that if the world’s two largest economies … aren’t talking,” Sobel says, “whether they agree or not, that’s a very bad thing for themselves and the world.”

Treasury secretary to visit India, Vietnam just a week after China trip

Today on TAP: Its coverage is often biased and sloppy.