George Soros has compared the Chinese economy to the US' prior to its historic financial crisis.
For many in the global financial industry, the embers of the US crisis of 2007-2008 are still warm, having been effectively burned into the psyche of the vast majority of global market participants. The run up to the subprime mortgage crisis as well as the cataclysm it wrought on US equity markets in rapid fashion underscored the depths of Risk Management, exacerbated to the scale of an entire market-wide regime.
And yet, less than a decade later, there have been potentially troubling signs of another metastasizing crisis, this time in the world’s second largest economy, China. Last summer in Chinese equity markets proved to be one of the most schizophrenic in recent years, with state officials and authorities employing damage control techniques in a bid to help stymie the bleeding. Widely traded indexes such as the Shanghai composite were in rapid flux for months, having eventually stabilized after months of circuit breakers, Liquidity injections, and calmed nerves had taken their toll.
The new world of online trading, fintech and marketing - register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
However, this market volatility across Chinese markets is merely a specter to what could potentially be billed as the next financial crisis. For its part, China has taken extensive steps to help cool the outflow of capital and stabilize its market situation. Since last summer, many Chinese indexes have rebounded, though not back to the heights previously seen before the 2015 plunge.
Credit Markets in Focus
Apart from the aforementioned factors though, China is presently grappling with a credit surge, upwards of $1.0 trillion strong in March alone, which has drawn the criticism of market sage George Soros. Speaking at a recent Asia Society event in New York this week, Soros portended that the recent uptick in credit was a potentially troubling development, as it showed “how much work is needed to stop the slowdown.”
This stance is hardly new, as there is no shortage of doomsday predictions mapping out China’s alleged future. Still, the country’s financial markets did dodge a huge blow last year, as relative tranquility has reverberated through its indexes in Q1 2016. However, Soros saved his most dire words for China when he drew a comparison to the world’s last major financial culprit, the US. According to Soros, China “resembles the US in 2007-8”, which marked the period directly preceding a historic credit crunch and global recession.
Soros’ words fall on both welcome and deaf ears – China has shouldered much of the blame for last year’s handling of its market crisis, though it has largely persevered and has managed to thus far avert any sort of credit crisis. One troubling sign potentially however, is its rapid ascension in social financing, which has exponentially increased in recent years. Presently, the country is riding an estimated 350% debt/GDP ratio, which could yield problematic repercussions given its need to maintain steady growth.
In the interim, China will continue its efforts to stave off disaster, as it has done for the past several years. This has included the rebalancing of its currency, which culminated in the addition of the Chinese yuan to the IMF currency basket last year, a historic achievement for the country. Regardless, Soros and others have continued to point to troubling signs that China is grappling, as the country looks to shake the narrative that a financial downfall is inevitable.
For many in the global financial industry, the embers of the US crisis of 2007-2008 are still warm, having been effectively burned into the psyche of the vast majority of global market participants. The run up to the subprime mortgage crisis as well as the cataclysm it wrought on US equity markets in rapid fashion underscored the depths of Risk Management, exacerbated to the scale of an entire market-wide regime.
And yet, less than a decade later, there have been potentially troubling signs of another metastasizing crisis, this time in the world’s second largest economy, China. Last summer in Chinese equity markets proved to be one of the most schizophrenic in recent years, with state officials and authorities employing damage control techniques in a bid to help stymie the bleeding. Widely traded indexes such as the Shanghai composite were in rapid flux for months, having eventually stabilized after months of circuit breakers, Liquidity injections, and calmed nerves had taken their toll.
The new world of online trading, fintech and marketing - register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
However, this market volatility across Chinese markets is merely a specter to what could potentially be billed as the next financial crisis. For its part, China has taken extensive steps to help cool the outflow of capital and stabilize its market situation. Since last summer, many Chinese indexes have rebounded, though not back to the heights previously seen before the 2015 plunge.
Credit Markets in Focus
Apart from the aforementioned factors though, China is presently grappling with a credit surge, upwards of $1.0 trillion strong in March alone, which has drawn the criticism of market sage George Soros. Speaking at a recent Asia Society event in New York this week, Soros portended that the recent uptick in credit was a potentially troubling development, as it showed “how much work is needed to stop the slowdown.”
This stance is hardly new, as there is no shortage of doomsday predictions mapping out China’s alleged future. Still, the country’s financial markets did dodge a huge blow last year, as relative tranquility has reverberated through its indexes in Q1 2016. However, Soros saved his most dire words for China when he drew a comparison to the world’s last major financial culprit, the US. According to Soros, China “resembles the US in 2007-8”, which marked the period directly preceding a historic credit crunch and global recession.
Soros’ words fall on both welcome and deaf ears – China has shouldered much of the blame for last year’s handling of its market crisis, though it has largely persevered and has managed to thus far avert any sort of credit crisis. One troubling sign potentially however, is its rapid ascension in social financing, which has exponentially increased in recent years. Presently, the country is riding an estimated 350% debt/GDP ratio, which could yield problematic repercussions given its need to maintain steady growth.
In the interim, China will continue its efforts to stave off disaster, as it has done for the past several years. This has included the rebalancing of its currency, which culminated in the addition of the Chinese yuan to the IMF currency basket last year, a historic achievement for the country. Regardless, Soros and others have continued to point to troubling signs that China is grappling, as the country looks to shake the narrative that a financial downfall is inevitable.
Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
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Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
🎬 Watch, share, and join the conversation!
Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.
Stay tuned for more events. See you next time!
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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