Ernesto Gallo and Giovanni Biava
on Aug 1st, 2013
By 30 November Australia will have a new parliament. Before then, however, her citizens will have to solve a puzzling dilemma: whom do they want to go with? With the USA or the People’s Republic of China?
The dilemma has been recently proposed by the academic and commentator, Hugh White. To be fair, most politicians and observers, including the recently ousted Prime Minister, Julia Gillard, believe that there is no need to choose at all. On the one hand, the USA would continue being Australia’s main security provider, obviously bearing in mind that in the most recent Defence White Paper (2009), the...
on Jun 12th, 2013
By its very definition, shadow banking is obscure, shrouded in secrecy, and difficult to discern. It is even harder to define shadow banking in China, where the official system is itself opaque and uncertain, an area where actual procedure is often diverges significantly from the rules. Shadow banking is usually a combination of financial instruments available on markets outside of the traditional banking system, but this does not mean that banks are not involved. They can carry out shadow banking operations, or even act as primary players, even though two principal differences are maintained. Safety...