ASEAN may reduce reliance on major currencies like the US dollar, euro, yen, and British pound for financial transactions. This could be achieved by increasing the use of local currencies through the Local Currency Transaction scheme. The aim is to enhance the cross-border digital payment system and
The Bank Term Funding Program (BTFP) debuted in March 2023 as a Federal Reserve emergency lending program targeted at providing liquidity to US depository institutions. The sudden and shocking failures of Signature Bank and Silicon Valley Bank, the biggest of their kind since the 2008 financial cris
In recent years, China has emerged as a global leader in science and technology. China has gained a significant advantage over Western democracies by establishing a leadership position in high-impact research across a range of critical and emerging technology domains. The country's dominance extends
Larry Fink, the Chairman and CEO of BlackRock, stated in his annual letter to shareholders that tokenizing asset classes offers the prospect of driving efficiencies in capital markets, shortening value chains, and improving liquidity. This statement underscores the immense potential of digital token
Week 12 Reading Recap for 2023
The Federal Reserve's decision to maintain historically low interest rates has made it challenging for banks to maintain profitability through traditional lending methods. As a result, banks have shifted their investment strategy towards securities in recent years. This shift is part of a bro
Week 11 Reading Recap for 2023
The failure of Silicon Valley Bank, followed by the decision by US authorities to bail out all depositors, has sparked a heated debate. While some commend the move as a precaution against a larger financial disaster, I believe it was the wrong option. The action establishes a hazardous precedent by
While the Chinese yuan has been rising in prominence on the international stage, it is unlikely to become the world's predominant reserve currency anytime soon. This is because China's leaders are not actively seeking such a role for their currency.
