Borrowings by poor countries
Poor countries need to borrow money from rich countries to fund their infrastructure and economic development. They have to pay interest on the borrowings and return the capital at the end of the term. Ideally, the borrowings should be denominated in their local currency, but it is not accepted by the international lenders. They...
Picha PAP’s lobang
It took more than 15 years for opposition to picha PAP's lobang myth over "heavy subsidies and loss" over HDB. Even before I joined opposition politics, I already knew it's a misrepresentation of facts with half truth to insist "HDB loses money" without mentioning how SLA gain money via land sales. To understand the whole truth,...
China will sell USD
President Xi has instructed the state banks to sell the USD. This is to help strengthen the yuan, which has dropped significantly against the USD. There is a longer term implication. When China sells the USD, many speculators will jump into the bandwagon and dump the USD. This may cause the USD to collapse. Remember, American...
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