2018 October 29

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Here is the Belt & Road Today brought to you by Belt and Road Advisory

  1. After a nearly 7% selloff this year, the RMB reached its lowest level in a decade vs. the dollar. PBoC Vice-Governor had a message for those shorting the renminbi, that it was a battle that PBoC had fought before, and was prepared to fight (and win) again.  - Read more

  2. Victoria state in Australia has signed an MoU with China on Belt and Road. This is the first Australian state to formalize support for the BRI, and goes against an Australian governmental stance that is largely negative about the BRI. - Read more

  3. Swiss firm #ABB Group plans to build a $150 million "Factory of the Future" in Shanghai, it said on Saturday. It will become the most high-tech robotics manufacturing site on the planet, the company said. The plant is slated to open in 2020.   - Read more

  4. Australia is spending $2 billion on a new Antarctic icebreaker — the biggest single investment in the history of the country’s Antarctic program. The move comes in response to China and Russia investing heavily in Antarctica over the past decade. - Read more

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Grzegorz Stec