Aiming for economic clout: China's renminbi-isation - How Beijing can emulate US, German investment returns
by David Marsh
Senior US monetary officials, both in office and in retirement, habitually muse about America’s celebrated ‘exorbitant privilege’ – the US ability to earn far more on its foreign assets than it pays out on its liabilities, a consequence of the reserve currency status of the dollar.
Low Interest Rates and the Insurance Industry: From Balance Sheet Impacts to Structural Industry Changes
By Gerhard Lohmann
Interest rates are “prices” of a very special nature. They are an indicator of the cost of the future, as they guide investment decisions versus consumption decisions over time. If interest rates are high, the hurdles for investing today in order to generate future returns are also high.