–China Cracking Down on Illegal Currency Conversion – Even when I lived in China we would not exchange currency at the banks. I found out quite fast from the Japanese to exchange money at some mom and pop mafia front near Fudan University, that is when I was introduced to the black market to get around currency controls. This suited me fine as they gave a much better rate.
–Japanese Shift Cash Out of U.S. Investments – More ” beikoku banare” (Quitting America)…this is significant as Japan holds the second highest number of dollar reserves, next to China. This will only serve to further weaken the dollar, which will put more pressure on China! Yes, not very intuitive. In the meantime, more money flows into Asian portfolios and away from America and the EU.
–Homelessness in Taiwan – Michael Turton has an interesting post on Homelessness in Taiwan.