What a way to end one decade and begin another – in the same place. Though they are separated by a whole lot more than just the Pacific Ocean, they are institutions caught up in the same noose spaced over an enormous amount of time as well as distance. On the surface, they couldn't seem more different and yet they find themselves a common cause for a common purpose because of a common deficiency.
For the one in China, the People's Bank, Rénmín Yínháng, it is attempting as best it can to look after the People's Currency, Rénmínbi. Every so often, however, the same PBOC keeps having to add massive amounts of what we are told is additional liquidity.
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