U.S. stock futures are on the rise.
According to the Associated Press, Forbes, and Bloomberg Businessweek, G.E., Bank of America Corp., Citigroup Inc., Caterpillar Inc. and Alcoa Inc. were among those that increased 1% or more on Wednesday, following a rally in European lenders.
Greek, German and French leaders will meet today to discuss ways to contain Greece’s debt crisis. Speculators believe China may be willing to buy the bonds of nations hit by the debt crises, as reported by Businessweek.
Not everyone supports such a plan, according to the English-language Caijing magazine. Some advisers to China’s central bank believe the nation’s willingness to purchase euro bonds is little more than an ill-advised “bleeding heart” response to the global debt crisis.
“What today’s world needs is not a ‘bleeding heart’; instead, it needs investors with a senseo fo reform and cooperation,” Li Daokuu, academic adviser to the central bank, told Caijing. “I believe (China) will perform a role of a real good guy rather than a ‘bleeding heart.’”
In the article, he advises diversification of China’s foreign exchange reserves with solid investments.
This issue and other recent events drive home the importance of closely monitoring world events. Robert Hsu’s China Fireworks: How to Make Dramatic Wealth from the Fastest-Growing Economy in the World is an excellent primer on how and why to develop a China strategy in your investing.
In addition, Traders Press offers an ever-expanding array of books on foreign exchange trading. From Getting Started in Currency Trading to Profiting with Forex, you’re sure to find something that suits your needs.
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