PRC celebrates 64 years as a People’s Republic while USA adds fiscal to monetary limbo

By quantofasiaUncategorized

64 years ago today, or 2 1/8 years after the founding of the Republic of India, Mao celebrated the start of China’s chapter as a People’s Republic.  As I wrote earlier about India being 66% of the way to a centennial, I also look at this as 64% progress towards the PRC’s centennial.

Mao Zedong declares the founding of the modern People’s Republic of China, October 1, 1949

Hong Kong only gets today off as a public holiday, but north of the border it is one of the two remaining “golden weeks“, where a large portion of the country basically seems to take the week off from work, and so even I avoid travelling there.

Meanwhile, too much of the economic news on this side of the Pacific, especially in English, remains more interested in what’s happening across the Pacific in the world’s largest economy, where shortly after the Fed’s decison to delay tapering their QE monetary policy, the US government allowed calendar year 2013’s Q4 to start with a fiscal shut-down of non-essential services.  In terms of what will actually impact investments from or in Asia, I still think this is more noise than news, but as repetitive as Mao’s image may be on today’s RMB notes, I still couldn’t help showing it one more time for the caption below:

What are the odds Mao then would have even dreamt: “Mr. Nixon, just 40 years from now you will owe us over $1 trillion!”

One thought on “PRC celebrates 64 years as a People’s Republic while USA adds fiscal to monetary limbo”

  1. Hey, Tariq, once again, your approach is so sharp and full of humor when you take a such serious subjects.
    Great and bright mind by always ! pleased to follow
    Igor

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