TR EMERITUS

I ran into a British Born Chinese girl at an event organized by my sister tonight. The conversation inevitably turned to the topic of growing up between East and West. Both of us admitted to being Chinese illiterate and she talked about how everyone in Hong Kong called her a Banana (Yellow on the outside but white on the inside),... 

Many US banks, including the large ones, are in financial trouble. They have lent a few trillion dollars in 30 year mortgages at fixed interest rates of 3% or less. Based on the current high interest rates, the value of their mortgages could have fallen by 30% or more. The loss is staggering. The banks are able to mark these... 

I share my views about the next stage in de-dollarization, i.e. countries with trade with each other using their own currencies instead of the USD. Several oil producers already agreed to sell oil to China in Chinese yuan (CNY). They can keep the CNY and use them to buy products from China in CNY. If they have excess CNY, they...