According to a new global financial data from McKinsey & Co., initially reported by Bloomberg, China’s wealth launched to $120 trillion, from its previous $7 trillion in 2000 — an unspeakably colossal growth from its days before joining the World Trade Organization, which accelerated its rise to power.
The U.S., meanwhile, has experienced muted increases in property prices, but nearly doubled its net worth over the same period, to $90 trillion. China and the U.S. are the largest economies in the world, but the lion’s share of the world’s wealth is held by the richest 10% of households. And they’re only getting richer, according to the report.
Turkish Lira crashes 9% in last 5 days against US dollar and almost 18% in last month. That’s a significant move…
The fall is due to the country’s leaders stance on monetary policy and interest rates, “We will lift this scourge of interest rates from people’s backs. We certainly cannot allow our people to be crushed by interest rates,” he said
Do note that turkey’s inflation rate was near 20% in October
“Our preferred DBeer metric continues to indicate extreme undervaluation in TRY and ex-MXN LatAm FX. We remain bearish on TRY despite real undervaluation however, as inflation pressures outpace nominal yields with the central bank set to cut rates again”, said a team of Deutsche Bank analysts led by Shreyas Gopal.
The Turkish lira has dropped 40% against the dollar this year and 30% against the euro, noted Fawad Razaqzada, market analyst at ThinkMarkets. In a note to clients, he cautioned investors to be wary of “contagion risks” from the slide in the lira, “particularly for currencies of oil-importing nations such as India where the Rupee has already been weakening.”
This is one of the massive geopolitical developments in many many years with Russia and its allies majorly on one side trying to take it on the NATO led by US with Ukraine being the focal point
Situation is slowly escalating and lot of interesting developments are taking place on this front. With Russia being super rich when it comes to energy resources, Europe has to balance out between their interests and challenges with current developments.
Many are saying this may potentially be the biggest escalation after Cold war. We have to definitely keep an eye as these events will have lot of impact on global economy.
Things are escalating pretty fast and so many countries are evacuating their embassies from Ukraine. Energy market has already started reacted violently to it with crude surging to levels not seen in last 7+ years.
These tensions generally don’t end abruptly and keep on stretching for months as it can witnessed from actions seen from last 1-2 months.
With US (NATO) and Russia facing each other mainly , it needs to be seen how European Union handles this sensitive situation. The implications are definitely going to be serious.
The biggest geopolitical event after decades (even bigger than the crimea annexation in 2014) is here. There are way too many implications that’s gonna come with this announcement . Lets keep an eye on the space and share interesting insights here.
We have reached the most decisive moment with Russia attacking eastern Ukraine and warning others not to interfere. Military exercise may not last long. But the consequences would be massive and can go on for months.
Energy markets are going to be red hot to say the least.