[Reuters Video] - China's central bank says the $580 billion stimulus measures are having a better-than-expected impact on the economy, with more action likely.
Showing posts with label economic crisis. Show all posts
Showing posts with label economic crisis. Show all posts
Monday, May 11, 2009
China: Stimulus Working
[Reuters Video] - China's central bank says the $580 billion stimulus measures are having a better-than-expected impact on the economy, with more action likely.
Wednesday, April 8, 2009
Sino-Venezuelan Cooperation
Good old Hu Jintao and señor Chavez met in Beijing today and agreed to step up their efforts to advance cooperation in energy, agriculture and technology.
The two also agreed to take joint steps to combat the financial crisis. How they hope to achieve such a grand goal, one can not say. All in all it's not much different than all the talk that has been going on about fighting the global financial crisis.
Chinese President Hu Jintao (R) meets with Venezuelan President Hugo Chavez
at the Great Hall of the People in Beijing, capital of China, 4/8/09. (Xinhua)
APEC, the UN, IMF, US-Euro, the "G2," etc. All these multilateral organizations and the major economies of the world seem to be making a lot of pledges these days. If anything I think its a good thing in order to restore confidence around the globe. As for this recent foray of China-Venezuelan Cooperation, it is nothing THAT special.
It indicates Chavez continues to aggressively pursue new export markets for Venezuela's oil. Chavez was in Japan earlier this week where he also succeed in getting Japan to promise over $30 billion in investments for Venezuela's oil and gas industry in exchange for guaranteeing a healthy supply for the island (see this Bloomberg article).
Chavez also thanked China for the successful launch of Venezuela's first telecommunications satellite, which according to Chavez will help the "Bolivarian Nation," (a.k.a. Venezuela) achieve scientific and technological independence (see this CNN article about the launch).
Second, it shows that even in the wake of a financial crisis, developing nations are mutually interested in building their relations for the long-term. This means that they remain optimistic about the long-term picture.
A good thing considering growth in the developing world and rising demand from domestic economies is going play a siginificant role in helping the global ecoonomy emerge from this financial crisis.
Of all the announcements, the most important would have to be Hu Jintao's rhetoric. China has its poker face on and is planning its next couple of moves VERY carefully.
The financial crisis has given it a golden opportunity to assert it self on to the world stage. Personally, I believe leaders in China would have preferred to wait a while longer before being forced onto the world stage as a major decision maker and agent of change.
By forging strong alliances with the other developing countries like Venezuela and more importantly the fellow members of the BRIC block (Brazil, Russia, India and China), Hu Jintao and the rest of China's leaders are slowly building allies to support China in a new global framwork.
The two also agreed to take joint steps to combat the financial crisis. How they hope to achieve such a grand goal, one can not say. All in all it's not much different than all the talk that has been going on about fighting the global financial crisis.
Chinese President Hu Jintao (R) meets with Venezuelan President Hugo Chavezat the Great Hall of the People in Beijing, capital of China, 4/8/09. (Xinhua)
APEC, the UN, IMF, US-Euro, the "G2," etc. All these multilateral organizations and the major economies of the world seem to be making a lot of pledges these days. If anything I think its a good thing in order to restore confidence around the globe. As for this recent foray of China-Venezuelan Cooperation, it is nothing THAT special.
It indicates Chavez continues to aggressively pursue new export markets for Venezuela's oil. Chavez was in Japan earlier this week where he also succeed in getting Japan to promise over $30 billion in investments for Venezuela's oil and gas industry in exchange for guaranteeing a healthy supply for the island (see this Bloomberg article).
Chavez also thanked China for the successful launch of Venezuela's first telecommunications satellite, which according to Chavez will help the "Bolivarian Nation," (a.k.a. Venezuela) achieve scientific and technological independence (see this CNN article about the launch).
Second, it shows that even in the wake of a financial crisis, developing nations are mutually interested in building their relations for the long-term. This means that they remain optimistic about the long-term picture.
A good thing considering growth in the developing world and rising demand from domestic economies is going play a siginificant role in helping the global ecoonomy emerge from this financial crisis.
Of all the announcements, the most important would have to be Hu Jintao's rhetoric. China has its poker face on and is planning its next couple of moves VERY carefully.
The financial crisis has given it a golden opportunity to assert it self on to the world stage. Personally, I believe leaders in China would have preferred to wait a while longer before being forced onto the world stage as a major decision maker and agent of change.
By forging strong alliances with the other developing countries like Venezuela and more importantly the fellow members of the BRIC block (Brazil, Russia, India and China), Hu Jintao and the rest of China's leaders are slowly building allies to support China in a new global framwork.
Monday, April 6, 2009
George Soros Interview - Reuters Exclusive
A roundtable of Reuters Staff interviews Investor George Soros, Chairman of Soros Fund Management and author of "The Crash of 2008 and What it Means.
Thursday, March 26, 2009
Hernando de Soto, Peruvian Economist shares his thoughts via the Wall Street Journal
The Obama administration has finally come up with a plan to deal with the real cause of the credit crunch: the infamous "toxic assets" on bank balance sheets that have scared off investors and borrowers, clogging credit markets around the world. But if Treasury Secretary Timothy Geithner hopes to prevent a repeat of this global economic crisis, his rescue plan must recognize that the real problem is not the bad loans, but the debasement of the paper they are printed on.
Today's global crisis -- a loss on paper of more than $50 trillion in stocks, real estate, commodities and operational earnings within 15 months -- cannot be explained only by the default on a meager 7% of subprime mortgages (worth probably no more than $1 trillion) that triggered it. The real villain is the lack of trust in the paper on which they -- and all other assets -- are printed. If we don't restore trust in paper, the next default -- on credit cards or student loans -- will trigger another collapse in paper and bring the world economy to its knees.
If you think about it, everything of value we own travels on property paper. At the beginning of the decade there was about $100 trillion worth of property paper representing tangible goods such as land, buildings, and patents world-wide, and some $170 trillion representing ownership over such semiliquid assets as mortgages, stocks and bonds. Since then, however, aggressive financiers have manufactured what the Bank for International Settlements estimates to be $1 quadrillion worth of new derivatives (mortgage-backed securities, collateralized debt obligations, and credit default swaps) that have flooded the market.
Mr. de Soto, the author of "The Mystery of Capital" (Basic Books, 2000) and "The Other Path" (Harper and Row, 1989), co-chairs the Commission on Legal Empowerment of the Poor.
Today's global crisis -- a loss on paper of more than $50 trillion in stocks, real estate, commodities and operational earnings within 15 months -- cannot be explained only by the default on a meager 7% of subprime mortgages (worth probably no more than $1 trillion) that triggered it. The real villain is the lack of trust in the paper on which they -- and all other assets -- are printed. If we don't restore trust in paper, the next default -- on credit cards or student loans -- will trigger another collapse in paper and bring the world economy to its knees.
If you think about it, everything of value we own travels on property paper. At the beginning of the decade there was about $100 trillion worth of property paper representing tangible goods such as land, buildings, and patents world-wide, and some $170 trillion representing ownership over such semiliquid assets as mortgages, stocks and bonds. Since then, however, aggressive financiers have manufactured what the Bank for International Settlements estimates to be $1 quadrillion worth of new derivatives (mortgage-backed securities, collateralized debt obligations, and credit default swaps) that have flooded the market.
Mr. de Soto, the author of "The Mystery of Capital" (Basic Books, 2000) and "The Other Path" (Harper and Row, 1989), co-chairs the Commission on Legal Empowerment of the Poor.
Wednesday, March 25, 2009
Jim Rogers explains 2009 will be the year of Total decline for US
Kind of harsh no? Well this man has thrived through the worst of the past... So listening to him, with a bit of your own brain power might not be a bad idea.
Monday, February 23, 2009
Thursday, January 29, 2009
Who wins during a recession in China? --- Op/Ed from ptl-group China newsletter
Just as the world’s financial system faces the most severe crisis since WW-II China’s economy is reaching a level of maturity and strength that will give it a unique and central role in the future financial order. Although it has shown that China is not decoupled from the rest of the world, the crisis represents more of an opportunity than a threat for China. There is good reason to believe China has significant comparative advantages over other economies that are trying to navigate clear of serious damage during the crisis and emerge in a position of strength.
Click here to access the full article from ptl-group
Thursday, January 22, 2009
China's economic growth slows to 6.8%
According to official data, released from the Chinese statistics bureau in Beijing, gross domestic product grew by 6.8% in the 4th quarter of 2008, a sharp decline from the 9% average gain realized in the first three quarters of 2008.
Goldman Sachs, Thompson Reuters Data Stream PBOC
- China: Total Loans 2008
- China: Industrial Production 2006-08
- China: Real GDP 2000-2009
This is big news for the global economy, especially for commodity markets. Adding to the damages was further news from the region.
Japan saw its exports decline 35% in December, the biggest drop since 1980.
South Korea released official figures, stating its economy has contracted by 5.6% in the 4th quarter of 2008.
Singapore has said it will tap into its reserves from the first time ever, with the president giving his “in-principle approval” to fund a $4.9 billion relief package.
News is not all that good, to say the least. Check out the press from a few major news sources.
China's economy slows sharply, worse yet to come – Reuters
China's economic growth slows – BBC
China's GDP grows by seven-year low of 9% in 2008 - Xinhua
China's GDP growth slowed to 6.8% in fourth quarter (update 2) – Bloomberg
S'pore to tap reserves – The Straight Times
South Korea braces for first recession in 11 years – The Business Times Malaysia
Japan's exports plunge as recession deepens – AP via Yahoo News
Miners to be hit as China's slowdown worsens – The Australian
Goldman Sachs, Thompson Reuters Data Stream PBOC- China: Total Loans 2008
- China: Industrial Production 2006-08
- China: Real GDP 2000-2009
This is big news for the global economy, especially for commodity markets. Adding to the damages was further news from the region.
Japan saw its exports decline 35% in December, the biggest drop since 1980.
South Korea released official figures, stating its economy has contracted by 5.6% in the 4th quarter of 2008.
Singapore has said it will tap into its reserves from the first time ever, with the president giving his “in-principle approval” to fund a $4.9 billion relief package.
News is not all that good, to say the least. Check out the press from a few major news sources.
China's economy slows sharply, worse yet to come – Reuters
China's economic growth slows – BBC
China's GDP grows by seven-year low of 9% in 2008 - Xinhua
China's GDP growth slowed to 6.8% in fourth quarter (update 2) – Bloomberg
S'pore to tap reserves – The Straight Times
South Korea braces for first recession in 11 years – The Business Times Malaysia
Japan's exports plunge as recession deepens – AP via Yahoo News
Miners to be hit as China's slowdown worsens – The Australian
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