Posted by seumasach on November 11, 2014
BoE chief says banks won’t be saved by taxpayers
10th November, 2014
New rules are being proposed that will force creditors, not taxpayers, to carry the losses of banks deemed “too big to fail.” The plans come after Western taxpayers were asked to pay trillions of dollars to bail out banks in the 2008 financial crisis.
Posted in UK economy | Tagged: no more bombing!-no more bailouts!, no more wars!-no more bailouts! | Leave a Comment »
Posted by seumasach on November 8, 2014
“All of this will help to support the Scottish Government’s China engagement strategy that is already forging important links with the world’s most populous country.”
With new devolved powers on the way I expect the SNP, now beyond question Scotland leading political force, to hit the ground running in opening up Scotland to incoming Chinese investment. Of course, the UK has been totally dependent on incoming Chinese investment anyway in the form of government bond purchase but this is unsustainable and is being replaced by direct investment in real and industrial estate, infrastructure and ultimately, re-industrialization. Scotland already has a five-year plan( a nice touch I think), its Five Year Strategy for Engagement between Scotland and the People’s Republic of China which envisages, for example, the following scenario:
China‟s Foreign Direct Investment has increased dramatically in recent years and has mainly involved the acquisition of mineral resources and energy. Whilst this mergers and acquisitions trend will continue, we expect more Chinese companies to become Global companies either through acquisition or by themselves through natural expansion.
To facilitate inward investment from such companies, we will position Scotland as the ideal European base for Chinese companies with a focus on our pro-innovation business environment.
Scotland has, and will continue to have, a range of high quality investment opportunities suitable for funding from China. These vary from the low carbon sector to 5-star tourism destination developments. SDI will build relationships with Chinese investment companies and entrepreneurs, utilising cultural opportunities, to fully promote these and help create further investment opportunities in Scotland.
15th October, 2014
A major investment that will see Glaisnock House in Cumnock transformed into a language and cultural centre for Chinese students and entrepreneurs has been welcomed today.
Posted in UK economy | Leave a Comment »
Posted by seumasach on November 8, 2014
“London was the most popular destination for Chinese institutional investors, with a total of $2.3 billion (1.35 billion pounds), as efforts by the city to draw Chinese capital into major infrastructure projects spilt into residential and commercial markets, JLL said.”
…in first-half, London, U.S. most popular – JLL
30th July, 2014
(Reuters) – China‘s institutional investment in property overseas rose 17 percent in the first six months of this year, with residential investment surging 84 percent, real estate services firm Jones Lang LaSalle (JLL) said on Wednesday.
Posted in UK economy | Tagged: The Great British Sell-Off | Leave a Comment »
Posted by seumasach on September 23, 2014
14th August, 2014
The government has today (25 June 2014) cemented Britain’s position as the western hub for Islamic finance by becoming the first country outside the Islamic world to issue sovereign Sukuk, the Islamic equivalent of a bond.
Posted in UK economy | Tagged: Islamic finance, The Great British Sell-Off | Leave a Comment »
Posted by seumasach on September 17, 2014
To Issue Chinese Yuan-Denominated Bond
15th September, 2014
Yuanification continues around the world. As The USA attempts to corral its allies in a ‘broad coalition’, an increasing number of people – including domestic economic policy advisors – are shifting away from the USD as primary reserve currency. However, the move by British Chancellor of the Exchequer George Osborne, announced Friday, is likely the most notable yet in the world’s de-dollarization. As Xinhua reports, the British government intend to be the first nation (ex-China) to issue Renminbi denominated bond and to use the proceeds to finance the government’s reserves of foreign currency. Osborne described this dialogue outcome as “a historic moment” and a statement of British confidence in the potential of the RMB to become “the main global reserves currency”.
Posted in UK economy | Tagged: UK-China strategic partnership | Leave a Comment »
Posted by seumasach on September 14, 2014
Rumours have been circulating in the City of London that an Asian company, possibly Chinese, may be interested in buying Balfour Beatty, the UK’s biggest contractor, since talks over a merger with Carillion broke down.
Posted in UK economy | Tagged: The Great British Sell-Off | Leave a Comment »
Posted by seumasach on June 13, 2014
The idea of bailing out the banks in perpetuity is totally devoid of realism. Neither the pound sterling nor the British people would survive such a policy. The only answer is to allow the banks to fail, to put them through bankruptcy.
Britain’s financial sector remains vulnerable to further global shocks and the Bank of England must be ready to rescue banks that run short of funds, Threadneedle Street warned on Thursday.
Posted in UK economy | Tagged: bankrupt Britain, failing banks, no more bailouts-put banks into receivership, no more bombing!-no more bailouts! | Leave a Comment »
Posted by seumasach on February 18, 2014
The terrible truth about educational levels is another aspect of contemporary Britain which we refuse to confront along with the real state of our banks, our infrastructure, our industrial base, our public health and so on.
17th february, 2014
British schoolchildren are lagging so far behind their peers in the Far East that even pupils from wealthy backgrounds are now performing worse in exams than the poorest students in China, an international study shows.
Posted in UK economy | Tagged: bankrupt Britain, End of empire | Leave a Comment »
Posted by seumasach on January 19, 2014
British exit from EU may scare off foreign investors, admits Vince Cable
18th January, 2014
Vince Cable has admitted that the government is battling to reassure foreign investors who are increasingly worried about a potential British exit from the European Union.
Posted in UK economy | Tagged: Britain into Europe-Europe out of NATO | Leave a Comment »
Posted by seumasach on December 3, 2013
Li said Britain and China were indispensable and equal partners, noting the prime minister’s recent approach to Beijing by acknowledging the territorial integrity of China – diplomatic code for accepting Beijing’s rule over Tibet.
Li said: “We have become indispensable partners for each other’s development. China and the UK must treat each other as equals.”
From Guardian, 2nd December, 2013
Posted in Multipolar world, UK economy | Tagged: UK-China strategic partnership | Leave a Comment »
Posted by seumasach on December 3, 2013
“We think we have a lot to learn from China because of the success of your high-speed rail. I said to your president and prime minister yesterday that just as we welcome Chinese investment into nuclear power, into other infrastructure so there will be very open competition to provide the infrastructure for our network. We will welcome Chinese investment into that.”
3rd December, 2013
UK would welcome Chinese investment in HS2, says David Cameron
David Cameron has told the Chinese leadership that he would welcome investment by Beijing in Britain’s high-speed rail network.
Posted in Multipolar world, UK economy | Tagged: UK-China strategic partnership | Leave a Comment »
In These New Times 