On this episode of Guide to the Global economy, Niels sits down with Josh to fill him in on how China's banks have fared in the past couple of weeks since the collapse of Silicon Valley Bank. The verdict? Not too shabby, according to Niels. It seems like the CCP insulated their financial system quite well since the 2008 financial crisis, but at what cost?
Meanwhile Alisha shares a report about an upcoming meeting in Tehran between Elvira Nabiullina and Mohammad-Reza Farzin, the Central Bank Governors of Russia and Iran. The visit would mark Nabiullina's first trip (that we know of) outside of Russia since Putin's invasion of Ukraine. But why the visit? Russia and Iran are looking for ways to evade Western sanctions by establishing a cross-border central bank digital currency—a possible next generation of sanctions evasion.
And have you heard about the new mountain in Switzerland? Thankfully, no one in Switzerland is going to try to ski down the 4.3 trillion dollars of assets now held by the mega bank formed by the UBS takeover of Credit Suisse. Forget about 'too big to fail', what about too big to save!? Sophia shares her take.
ORIGINAL AIR DATE: 03/30/23