About Zhou Xiaochuan

Zhou Xiaochuan is governor of the People’s Bank of China (PBC) and a member of the Chinese Communist Party Central Committee.

Balkan promise

Over the past year Romania has staged a surprise recovery, thanks to careful political stewardship and workers’ willingness to accept swingeing austerity measures.

Banamex – Citi’s Latin American super-model

During the 2008 crisis, when Citigroup was accepting its bailout from the US government there were rumours circulating around Latin America that the bank would be forced, for either regulatory or capital-raising reasons, to sell Banamex.

IFC: from food to farm

While much of the financing needed to support sustainable production of agriculture will come from commercial lenders and investors, another important group is the multilaterals.

Capital markets pick up as Argentina booms

Argentina’s capital markets have become much more active this year, as the country’s economy booms and foreign investors turn to it in the belief that it offers investment opportunities.

Egypt: Banking on a revolution

Egypt’s top bankers took extreme measures to ensure that the country’s financial infrastructure did not break down as the Mubarak government fell.

The case against Sino-Forest

The accusations made by Muddy Waters in its original and subsequent reports on Sino-Forest (also known by its stock ticker TRE) are too detailed and extensive to be reproduced here; interested readers should seek out the research, which is freely available on the Muddy Waters website.

Inside China’s investment clubs

Some of China’s wealthiest people are banding together to use their money and local knowledge to invest in the country’s growth businesses.

Europe’s smaller banks face a long goodbye

While regulators’ attention has focused on those that are too big to fail, the financial institutions in Europe that face the sternest challenge might be those that are too small to get funding from investors.

What’s behind the great China stock scandals?

The fall of the multi-billion dollar Sino-Forest Corporation is merely the most prominent show in the overseas-listed China stock scandal circus, as a colourful cast of auditors, corporate executives, exchanges, investors, regulators and short sellers argue over who’s to blame and what can be done about the alleged frauds and misdeeds now coming to light.

Lebanon’s lost opportunity

The economy has been brought to a near standstill by domestic and regional political turmoil, but the country’s banks report rising deposits and profits and feel they can ride out the crisis.

Banks: Contagion threatens still-vulnerable banks

When Bank of America’s share price collapsed last month, most equity analysts blamed the sell-off on investors taking fright at the prospect of a double-dip recession in the US that might further impair damaged housing assets on the bank’s balance sheet that it might not have adequately written down yet.

Economy: Policymakers have run out of tools to boost economies

These requirements to prevent an economic crash highlight a second new aspect of the fear of a double dip now gathering among investors: that developed-world economies are close to stalling at a time when policymakers are close to running out of tools to support them.

Europe: The single-currency grand bargain has to be re-made

If Europe’s sovereign debt problem is heading to a decisive crisis moment, it seems that it must resolve itself either through some form of greater fiscal union or a break-up of the single currency that, if disorderly, could easily be even worse for the global financial system and economy than the aftermath of the Lehman bankruptcy.

Sovereign debt: Greece was the first to restructure but might not be the last

As Euromoney went to press, the bailout deal agreed by European heads of state for Greece on July 21 looked at risk of unravelling over a squabble arising from other countries, including Austria and the Netherlands, objecting to the private side deal by which Finland had appeared to extract from Greece cash collateral to be put against its share of commitments.

Banks have not learnt lessons on risk management

It is clear that the banks that paid huge sums to financial engineers to fill their balance sheets full of toxic waste stopped digging their way into that hole rather quickly after the shock of 2007 and 2008 and have spent the time since trying to dispose of assets and garner the financial wherewithal to write down or at least reserve against those they can’t sell.