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Keyword: chinaeconomy

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  • China Is Digging Itself into a Deeper Hole

    09/21/2016 5:18:22 AM PDT · by expat_panama · 10 replies
    John Mauldin ^ | Sept. 19 2016 | John Mauldin
    Chinese “depreciation” and all its ensuing hysteria occurred just about a year ago. It has also been a about a year since I co-wrote a book on China with Worth Wray titled A Great Leap Forward? The title was meant to be ironic. The original Great Leap Forward was imposed by Mao in the 1960s. It was one of the most economically disastrous times in Chinese history. Food production increased, yet 30 million people starved. China underwent a true financial and economic crisis due to the insanity of central control of markets. China now attempts something that is as powerful...
  • Has the BRICs bubble burst?

    03/28/2016 7:04:35 AM PDT · by Lorianne · 7 replies
    Guardian UK ^ | 27 March 2016 | Simon Tisdall
    Brazil, Russia, India, China and South Africa seem to be failing to justify predictions of 21st century domination ___ The political crisis in Brazil over economic mismanagement and high-level corruption, likely to come to a head next week, has reinforced the fashionable view, popular among western governments and businesses, that the Brics bubble has burst. Members of the exclusive Brics club of leading developing countries – Brazil, Russia, India, China and South Africa – are failing to justify predictions that, separately and together, they will dominate the 21st century world, or so the argument goes. The Brics concept, plus acronym,...
  • China FX reserves fall $512.66 bln in 2015, biggest annual drop on record

    01/09/2016 6:28:54 AM PST · by TigerLikesRooster · 3 replies
    CNBC ^ | 7 Jan 2016
    China FX reserves fall $512.66 bln in 2015, biggest annual drop on record Thursday, 7 Jan 2016 | 4:43 AM ET China's foreign exchange reserves, the world's largest, fell $107.9 billion in December to $3.33 trillion, the biggest monthly drop on record, central bank data showed on Thursday. The December figure missed market expectations of $3.40 trillion, according to a Reuters poll. China's foreign exchange reserves fell $512.66 billion in 2015, the biggest annual drop on record
  • China to Stimulate by Cutting Taxes

    12/28/2015 8:46:58 AM PST · by Lorianne · 15 replies
    Armstrong Economics ^ | 28 December 2015 | Martin Armstrong
    China is demonstrating that it is more practical than anyone else in the industrialized world. They have announced that they will “reasonably” set limits on new local government debt in 2016. Finance Minister Lou Jiwei said at a work conference in Beijing on Monday that they will actually limit local debt; something nobody else does. China will also adopt a much more flexible fiscal policy that will include gradually increasing the fiscal deficit ratio and expanding its budget deficit. So China will increase its debt in a gradual manner to try to stimulate the economic decline it is facing. These...
  • China Is Falling Into A Vicious Circle As It Burns Through Cash Reserves Faster Than Ever Before

    09/07/2015 6:19:50 AM PDT · by blam · 26 replies
    BI ^ | 9-7-2015 | Ben Moshinsky
    Ben MoshinskySeptember 7,2025China is spending billions propping up its struggling currency and as a result its foreign currency reserves fell by a record amount last month. China spent $93.9 billion in August, reducing its cash pile to $3.56 trillion. This is almost double the drop in July, when $50 billion was spent. The People's Bank of China is spending all this cash on propping up its currency, the yuan, which has been suffering since China devalued it against the dollar. China's central bank is selling the dollars it holds and buying yuan in a bid to boost the price by...
  • Goldman Sachs isn't worried about China

    09/07/2015 7:50:54 AM PDT · by RoosterRedux · 11 replies
    The world is worried about China's economy. Mark Schwartz, Goldman Sachs' man in Beijing, not so much. Yes, China's stock market has tumbled 40% since June. And yes, the country has hit a rough patch. "A few things have gone wrong this summer," said Schwartz. But he also thinks the doomsday scenarios are way off the mark. "I think the market reaction globally is overdone," said Schwartz, who is chairman of Goldman Sachs in Asia-Pacific. "I think China is going through a very normal transition, from a state-controlled, state-dominated system, to a more market-oriented system."
  • GOLDMAN SACHS: Chinese Economic Growth Is About To Accelerate

    08/27/2015 9:52:12 AM PDT · by blam · 16 replies
    BI ^ | 8-27-2015 | David Scutt
    David Scutt, Business Insider Australia August 26, 2015 The outlook for Chinese economic growth is not as bad as some commentators are suggesting, and while it is uncertain, it is certainly not collapsing. The view presented by Goldman Sachs' portfolio strategy research team, in a note released earlier this week, suggests that Chinese economic growth will recover in the final quarter of this year on the back of flexibility with fiscal, monetary, and reform policy. Here's Goldman on the recent slowdown in China's growth momentum: China growth has slowed meaningfully in recent months, as evidenced by the disappointing official data,...
  • China's Much-Touted Economic Model Is Broken

    08/15/2015 6:11:35 AM PDT · by SeekAndFind · 18 replies
    IBD ^ | 08/15/2015
    The horrific explosions at the industrial port city of Tianjin and China's imploding economy show the government at its worst. China's highly touted "model" is broken and faces its day of reckoning. At last count, Wednesday's explosions in Tianjin had killed 50, including 12 firefighters. More than 500 people were hospitalized, 71 in critical condition, according to CNN. Dozens of people were missing. The government has been heavily criticized for its response and for clamping down on information about the tragedy. But it's been doing the same with the economy for years — exaggerating its growth rate and vibrancy, and...
  • China Economic Data Underwhelms Once Again

    08/12/2015 9:08:11 AM PDT · by BenLurkin · 7 replies
    WSJ.com ^ | Aug. 12, 2015 6:14 a.m. ET
    Growth in industrial production, fixed-asset investment and retail sales all slowed in July, China’s National Bureau of Statistics reported, just days after releasing data showing that exports fell sharply. Economists said the latest figures, along with a stated desire to make exchange rates more market driven, fueled Beijing’s surprise decision to let the yuan fall by 2.8% over Tuesday and Wednesday. “All the numbers are very weak,” “China’s hitting a bit of an air pocket.” ... “We believe new stimulus is being prepared to contain the rising downside risk in the real economy, which otherwise could turn into a hard...
  • George Soros: We Are On The Threshold Of A Third World War

    05/27/2015 8:46:07 AM PDT · by aimhigh · 57 replies
    ETF Daily News ^ | 05/27/2015 | Paul Joseph Watson
    Billionaire investor George Soros told the World Bank this week that the planet is on the verge of a third world war that could arise out of an economic collapse in China. “If there is conflict between China and a military ally of the United States, like Japan, then it is not an exaggeration to say that we are on the threshold of a third world war,” Soros said during a Bretton Woods conference. . . . . Soros said the only solution to the prospect was to allow China to join the IMF’s basket of global currencies so that...
  • IMF Proposes to Sabotage China’s Economy

    05/02/2015 1:40:55 PM PDT · by Kaslin · 4 replies
    Townhall.com ^ | May 2, 2015 | Daniel J. Mitchell
    For the people of China, thereÂ’s good news and bad news. The good news, as illustrated by the chart, is that economic freedom has increased dramatically since 1980. This liberalization has lifted hundreds of millions from abject poverty. The bad news is that China still has a long way to go if it wants to become a rich, market-oriented nation. Notwithstanding big gains since 1980, it still ranks in the lower-third of nations for economic freedom. Yes, thereÂ’s been impressive growth, but it started from a very low level. As a result, per-capita economic output is still just a fraction...
  • Asia shares stumble as weak China trade stokes growth worries

    02/08/2015 4:38:15 PM PST · by Red in Blue PA · 9 replies
    TOKYO (Reuters) - Asian shares wobbled on Monday after dismal Chinese trade data eclipsed a strong U.S. jobs report, raising concerns about a deepening slowdown in the world's second-largest economy and sending the Australian dollar sliding. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent with Australian shares (.AXJO) down 0.5 percent in early trade. U.S. stock futures also shed 0.4 percent (ESc1).
  • China overtakes US to be world's #1 economy: First time since President Grant was in office

    12/05/2014 8:24:01 AM PST · by SeekAndFind · 19 replies
    American Thinker ^ | 12/05/2014 | Rick Moran
    According to figures published by the International Monetary Fund, China has surpassed the US in economic output of real goods and services - a measure widely accepted as a gauge of total economic activity. It's an esoteric measurement, but important because it ignores exchange rates: These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP), which measures the actual output as opposed to fluctuations in exchange rates. So a Starbucks venti Frappucino served in Beijing counts the same as a venti Frappucino served in Minneapolis, regardless of what happens to be...
  • World asleep as China tightens deflationary vice

    02/13/2014 10:42:42 AM PST · by mgist · 29 replies
    Telegraph ^ | 2/13/14 | Ambrose Evans-Pritchard
    <p>World asleep as China tightens deflationary vice We keep our fingers crossed as we glimpse the first foam of a deflationary Ch'ient'ang'kian coming our way from China. The world's central banks have no margin for error Societe Generale has defined its hard landing as a fall in Chinese growth to a trough of 2pc, with two quarters of contraction. .snip. The balance of evidence is that most powerful Chinese leader since Mao Zedong aims to prick China's $24 trillion credit bubble early in his 10-year term, rather than putting off the day of reckoning for yet another cycle.</p>
  • China’s Housing Market Is Looking Ugly, Which Is Scary for its Financial System

    02/05/2014 1:16:44 PM PST · by nickcarraway · 10 replies
    Quartz ^ | 2/5 | Gwynn Guilford
    China’s surging property market might finally have hit the skids. + Sales have “showed a sharp decline” (paywall) in January, compared to Dec. 2013, according to China Confidential, a Financial Times research outfit, even when controlling for softness due to the Chinese New Year holiday. Official data show prices still high in December (the last month for which data were available), but those will likely be dragged down in the coming months. + ​ A big blow to global markets Housing investment is a big engine of China’s economy. And though slower growth could help end China’s dangerous reliance on...
  • China Halts Bank Cash Transfers

    01/26/2014 2:56:28 PM PST · by Errant · 54 replies
    Forbes ^ | 26 January 2014 | Gordon G. Chang
    The People’s Bank of China , the central bank, has just ordered commercial banks to halt cash transfers. ---Clip--- In short, there will be a three-day suspension of domestic renminbi transfers. There will also be a suspension, spanning nine calendar days, of conversions of renminbi to foreign currency. The specific reason given—“system maintenance” at the central bank—is preposterous. It is not credible that during the highest usage period in the year—the weeklong Lunar New Year holiday beginning January 31—the central bank would schedule an upgrade and shut down cash transfers. A better explanation is that the country’s banking system is...
  • Chicken In Popular Products May Soon Be Made In China

    11/12/2013 5:54:07 PM PST · by TexGrill · 55 replies
    WBZ TV ^ | 11/11/2013 | Michelle Roberts
    BOSTON (CBS) — As soon as next summer, nuggets and other popular chicken products could be made with chicken processed in China, all because of a recent change in regulations. “Oh, it makes me a little nervous,” says mother of two, Katrina Lee. China has a long history of serving up unsafe food, including the industrial chemical melamine that was deliberately put in pet food and infant formula. There were also cases of tainted rat meat passed off as lamb. “To me it’s a big leap of faith for us to now have to accept that foods coming from china...
  • China's meager aid to the Philippines could dent its image

    11/12/2013 5:44:07 PM PST · by TexGrill · 3 replies
    Reuters ^ | 11/12/2013 | Megha Rajagopalan
    (Reuters) - China may have wasted the chance to build goodwill in Southeast Asia with its relatively paltry donation to the Philippines in the wake of a devastating typhoon, especially with the United States sending an aircraft carrier and Japan ramping up aid. The world's second-largest economy is a growing investor in Southeast Asia, where it is vying with the United States and Japan for influence. But China's assertiveness in pressing its claim to the disputed South China Sea has strained ties with several regional countries, most notably the Philippines. China's government has promised $100,000 in aid to Manila, along...
  • China’s coming challenges

    11/11/2013 10:22:33 PM PST · by TexGrill · 4 replies
    Japan News ^ | 11/12/2013 | Fareed Zakaria
    Fareed ZakariaBEIJING—“We are all struck by the contrast between Beijing and Washington,” said George Yeo, the former foreign minister of Singapore. He was referring to the quality of governance in the two capitals—in particular, the sense pervasive in Asia that the United States has lost its ability to execute public policy with competence (see Iraq, Obamacare). Beijing, on the other hand, has been carefully and systematically planning a series of reforms that will likely make China the world’s largest economy within a decade. The contrast is particularly striking because China faces huge challenges and will need to make major economic,...
  • Pollution from China Is an International Problem

    11/11/2013 8:59:21 PM PST · by TexGrill · 2 replies
    Chosun Ilbo ^ | 11/12/2013 | Chosun Ilbo
    Smog from China brought a concentration of ultrafine particles in the Yeongdeungpo area of southwestern Seoul on Saturday that was 1.4 times the normal level, prompting health authorities to advise the weak and elderly to stay indoors. The concentration of ultrafine particles also surpassed normal levels in the Gangseo, Yangcheon, Guro and Mapo districts of the capital as well as in Incheon. On Oct. 29, the concentration of ultrafine particles in Dongducheon, Gyeonggi Province north of Seoul was 2.5 times the normal level. The smog blows across the West Sea. It is now common in Beijing for the concentration of...