Future of Capitalism

The Financial Times has been hosting panels of the most influential minds in economics and finance from North America, the UK and continental Europe.

Here is a direct link to Part 1 of the Future of Capitalism: New York

What are the causes of the financial crisis? Chrystia Freeland, US managing editor of the FT, moderates a panel discussion with:

Professor Joseph Stiglitz of Columbia University (the guy who probably wrote your text book if you studied Economics).

Larry Fink, chariman and chief executive of BlackRock.

Professor Edmund Phelps of Columbia University.

Martin Wolf, FT chief economist.

Copper hits 2-month high on China demand hopes -- Reuters

What's weighing on metal prices? -- article highlights

--> China is buying up copper from domestic bonded warehouses
--> Weak economic data reports from Japan and Europe
--> Copper, aluminum stocks on LME continue to rise

Seems as if the China factor outweighs the negative data from Europe. Chinese demand in my opinion will not be enough to push metals, in particular copper back to record setting highs of 8 months ago.

None the less, as reported in this Reuters article people remain cautiously bullish.

Click here to access the full Reuters article

Official foreign tours by China's top leaders to Africa, Middle East, Latin America and Europe highlight “confidence, friendship and cooperation.”

Top officials from the Chinese government have been busy visiting or preparing for trips to Africa, the Middle East, Latin America and Europe.

Premier Wen Jiaobao latest European trip has boosted confidence in the two regions joint efforts at tackling the global financial crisis, reported Xinhua today.

Chinese Preisdent Hu Jintao will visit Saudi Arabia, Mali, Senegal, Tanzania and Mautitius from Feb 10th to Feb 17th.

Vice President Xi Jinping left yesterday on Sunday to meet Vice Premier Hui Liangyu (below) for his own official visits to Mexico, Jamaica, Colombia, Venezuela, Brazil and Malta.

Chinese Vice Premier Hui Liangyu (2nd L) is greeted upon his arrival in
Buenos Aires, Argentina, on Feb. 8, 2009.(Xinhua/Martin Zabala)

Jia Qingguo, associate dean of the School of International Studies at Peking University, told the Beijing-based Global Times newspaper that “the international community expects China's greater involvement in international affairs and a greater international responsibility for China.”

On the other hand, "it signifies that China is placing a greater emphasis on cooperation with the rest of the world, which has an important bearing on our own interests," Jia said.

Chinese Vice Premier Hui Liangyu (L) is greeted upon his arrival in
Buenos Aires, Argentina, on Feb. 8, 2009. (Xinhua/Martin Zabala)

Chinese Prime Minister Wen Jiabao gets shoe thrown at him in UK -- Reuters

President Bush isn't the only one getting shoes tossed his way. Chinese Prime Minister Wen Jiabao was in Europe yesterday giving a speech at Cambridge University in the UK when a protester in the audience threw a show at him, calling Wed a "dictator."

China's foreign ministry spokeswoman denounced the actions of the protester and hailed the Prime Minister trip to Europe as a important step forward in Sino-European relations.



Seems like throwing shows is becoming a popular way to express your anger and discontent towards an individual. It becomes all the more meaningful considering a great many cultures and people in the world also think of it as the "ultimate insult."

Leaders be ware...

UK to double exports to China - Reuters

Feb 2. - British Prime Minister Gordon Brown seeks to strengthen economic ties with China during a visit by Premier Wen Jiabao.

Brown says both leaders have agreed to resist trade protectionism in the face of the economic slump, while China prepares to send delegations to Europe to buy commodities, goods and technologies.

Peter Parker, Reuters