"This (climate change) is much too important to leave to environment ministers"
- Nicholas Stern to Finance Ministers basking in BaliAnd
“Bali will set in motion a process that will define the structureof the carbon markets for decades to come”“By 2020 the global carbon market could be worth EUR 240-450 billion”
-to the International Emissions Trading Association at the Bali meeting (the largest NGO present)The good Baron has since moved on to the Grantham Research Institute at the LSE (yes, that Grantham) but these guys--IDEA--are still at the apex of the government/business nexus and are worth paying attention to.
China Planning A 20% Yuan Devaluation By Next Year?
It looks like China is not done devaluing the yuan despite reassurances from top officials at the People's Bank of China that last month's currency devaluation is a one-off occurrence.
According to a report from research firm IDEAglobal, China is planning a massive 15-20% devaluation (not a typo) of its currency by year end 2016. IDEAglobal says the information in the report published late Tuesday comes a "reliably-informed Asian source."
China made a move to devalue the renminbi / yuan in August to try to help exports as the Middle Kingdom is trying to deal with a weakening economy and shaky financial markets.
Statement from IDEAglobal sourceThe IDEAglobal source noted: "Having achieved a 3 percent move in a few weeks, they would not want to stop here. Their ultimate target is probably a 15 to 20 percent minimum move in the trade-weighted index."...MUCH MORE