Global Economy

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Austin
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Re: Global Economy

Post by Austin »

World on threshold of currency wars
Japan’s new Prime Minister Shinzo Abe has become the author of another chapter of modern history of the world currency wars. He accused the central banks of the USA and the European countries of steps leading to the strengthening of the Japanese yen and other national currencies against the dollar and the euro.

Shinzo Abe complained that the European Central Bank and the US Federal Reserve System continued to actively print money, which is causing damage to the Japanese economy.

2013 will be the year of currency wars, and the country having the weakest economy will be the winner. Most likely, this will be the USA. The US Federal Reserve System has launched 3 programmes aimed at quantitative easing of the national economy and again started money-printing. The reason is clear: the USA wants the dollar to remain the world reserve currency. The point is that the greater the amounts of a certain hard currency on the world market the more difficult it is for partner countries of such an emitter to operate. As you know, the economic laws say that cheap goods are the most competitive goods. Thus, if the US Federal Reserve prints money in large quantities, the Chinese yuan and the Japanese yen become more strengthened, which, in its turn, causes a reverse reaction on the partners’ part. Director of the Analytical Information Department at the RBK agency Alexander Yakovlev says.

"A strong yen means serious damage for big Japanese corporations. The Japanese economy has been demonstrating no growth for a long time now, and the interest rate of the Central Bank of Japan is currently at a zero level."
svinayak
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Re: Global Economy

Post by svinayak »

http://venturebeat.com/2013/02/12/this- ... al-people/
This startup is charging $3,000 for its database of the world’s most infl

This startup is charging $3,000 for its database of the world’s most influential people
February 12, 2013 3:38 PM

Christina Farr

Imagine having access to a Rolodex of two million of the wealthiest people in the world — bankers, private equity folk, and venture capitalists — and charging everyone thousands of dollars for a peek.
A new service has emerged to do just that. Relationship Science is charging bankers to use its cloud-based CRM tool to track the “1 percent” and already has some high profile Wall Street firms signed for its beta. It describes itself as the “ultimate business development tool.”

As the New York Times reported, the technology is still buggy and in the early stages of development. But it has received sufficient buzz to attract the attention of heavyweight investors, including Ken Langone, Henry Kravis, Stanley Druckenmiller, Andrew Tisch, Ron Burkle, and Joe Perella.

Today, Relationship Science announced it has raised $60 million in funding to date.

Founder and CEO Neal Goldman gave me access to the beta version of the website, which has taken almost 700 people (primarily in India and New York) over two years to build. His team of developers did not scrape data from social networks like Facebook and LinkedIn; instead, they manually input information. It also has an algorithmic component, which automatically refreshes the site with updates like a personnel move or a new board member.

According to Goldman, this decision not to rely on an algorithm was deliberate, since many influential people have not signed up to a professional social networking site like LinkedIn.

The results are more sophisticated and personalized than a simple Google search, which is why this will set customers back $3,000 a year.

Perform a simple search for a well-known financier, JP Morgan Chase’s chief Jamie Dimon, for instance, and the system will scan a list of Dimon’s contacts through his civic and philanthropic efforts, family connections, political affiliations, board positions, and work circles to uncover unexpected connections. Relationship Science will assign connections as “strong” or “weak” and suggest to its client the “shortest path” to make their acquaintance.

“You can understand what’s important to a person — everything is linkable and clickable,” Goldman explained by phone.

Goldman’s previous startup, CapitalIQ, is a financial database service that dozens of Wall Street firms use. Likewise, Relationship Science has found a niche with finance folk, but Goldman told me that he envisions the service will be useful to technology entrepreneurs, politicians, and nonprofit executives. He plans to offer a massively discounted subscription to nonprofits.

The database does not contain people’s phone numbers or email addresses — the customer must use the information and track down a desired contact.

For this reason, Spencer Chen, a senior director of business development at Silicon Valley-based company Appcelerator, is skeptical that a service like this would resonate with marketing and business professionals outside of the finance world. “Individuals are already equipped with finding common connections,” he noted.

These kinds of relationship CRM tools have been attempted in the past and have largely failed.

Blumberg Capital’s Jon Soberg has invested in similar companies over the years. He said that Relationship Science’s true value will be if it can perform predictive analysis, perhaps even suggesting experts who might add value to a customer’s ongoing research project. “I don’t know yet if this is a feature of an existing CRM or a standalone huge business,” he said.

Relationship Science is an audacious undertaking with a huge staff, but the company is well-funded. Goldman responds to criticism by emphasizing that he’s in it for the challenge. “I really love information, so I’m building the entire inter web of relationships,” he said.
Klaus
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Re: Global Economy

Post by Klaus »

G20 determined to halt cooperate tax avoidance.
Cash-strapped governments are seeking to use every means to inject new funds into their budgets and have run out of patience with big firms shifting profits to be registered in tax havens like the British Virgin Islands and Bermuda.

Online retailer Amazon, Internet giant Google as well as coffee shop chain Starbucks have been under the spotlight for their tax strategies in Britain and other EU countries in recent months.

Starbucks came under particular pressure in Britain following the revelation last year that it has paid just $12.94 million in British corporation tax since 1998, despite generating $4.5 billion in revenues. It has now pledged to voluntarily pay back millions in extra tax.
In a rare joint news conference, the finance ministers George Osborne of Britain, France's Pierre Moscovici and Germany's Wolfgang Schaeuble said while such tax avoidance was still technically legal, laws needed to be changed in a broad global effort.

Schaeuble said it was "unfair that multinational companies should be able to use globalisation as a tool" not to pay their fair share of taxes while Moscovici described the issue as a "matter of fairness for our citizens". sure sounds sarcastic!

Osborne said that current global tax rules had been developed almost 100 years ago -- along principles set out by the League of Nations in the 1920s -- and few changes had been made since.
A person familiar with the OECD's report said it was essential to move rapidly, especially with the United States apparently not sharing Europe's wholehearted enthusiasm for the anti-tax avoidance drive.

In 2010, the creation of offshores meant the British Virgin Islands was the second largest investor in China, it noted.
abhishek_sharma
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Re: Global Economy

Post by abhishek_sharma »

Seattle was a riot

old article on WTO protests.
Austin
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Re: Global Economy

Post by Austin »

panduranghari
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Re: Global Economy

Post by panduranghari »

Volcker is given way too much credit. If you read the minutes of the IMF conference in Belgrade I think in 1980's, you will see Volcker (thus America) was given an ultimatum by European countries to control American dollars inflationary drop against gold or they will stop clearing for US dollar.
kmkraoind
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Re: Global Economy

Post by kmkraoind »

G20 governments agree to crackdown on tax avoidance
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/af6c1ed4-3d00 ... z3DUSfECDS

Another far-reaching measure lays out new standards designed to put an end to the abuse of tax treaties through treaty “shopping”. The move is likely to force multinationals to disband “letterbox” companies – with no real activities – that are used to route profits through countries such as the Netherlands and Luxembourg to take advantage of favourable tax treaties.

The measures also include a concerted attack on “hybrid” structures, widely-used schemes that rely on arbitrage to minimise tax bills by exploiting differences between countries’ tax rules.
Is it some sort of taming of MNC behemoths?
NRao
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Re: Global Economy

Post by NRao »

:)

Bank of japan adopts -ve interest rate
As Japan’s economic doldrums have lingered, its leaders have tried a number of tricks over the years, from increasing up government spending to flooding the financial system with cash.

With the global economy looking increasingly fraught, Japan is now taking a more dramatic step, by cutting interest rates below zero on Friday.

The policy — which means banks are essentially paying for the privilege of parking their money — represents a last resort for a country that has struggled through a quarter-century of weak growth. In theory, negative rates will push banks to lend more to companies, which would then spend and hire.

Japan is following other major central banks in going negative on rates, a sign of the continuing global trouble from plummeting low oil prices, stalling international trade and slowing growth in China. The move comes as Japan’s prime minister, Shinzo Abe, is seeking new ways to break the country’s cycle of decline.

Mr. Abe has championed a system of temporary tax cuts and heavy government spending to spur growth and stoke inflation. But Japan, the world’s third-largest economy, has moved in and out of recession under his administration, sowing doubts about his policies.

The bank’s policy makers, who voted 5-4 to approve the measure, took great pains to say the rate cut was based on global conditions, not the Japanese economy itself. The decision surprised financial markets, which moved higher in Asia trading.

“Japan’s economy has continued to recover moderately,” the bank said in a news release. “Recently, however, global financial markets have been volatile against the backdrop of the further decline in crude oil prices.”

Global difficulties might hurt the business confidence of Japanese companies and encourage deflation, the bank added, and the measures announced on Friday would “pre-empt the manifestation of this risk.” In a statement explaining the move, the Bank of Japan even said that it might cut the interest rate further if necessary.

The Japanese central bank was also uncommonly blunt in mentioning the economy of another country, China, as one of the factors that could damage Japan’s economy.

“We saw risks from China’s and other emerging countries’ economies as well as the oil price decline,” the central bank’s governor, Haruhiko Kuroda, said in a news conference Friday evening. “Since the beginning of the year, the financial market has been reflecting such an unstable situation.”

“What is most important is that there is a growing possibility of its making negative impacts on Japanese enterprises and people’s mind-set to get away from deflation,” he added. “ For those concerns, we will respond without any hesitation.”

Moving to negative rates reflects a measure of desperation on the part of central banks. Their traditional tools have been largely exhausted, as most countries’ interest rates have been pushed to almost nothing.

With weak prospects for economic growth in many countries, businesses are reluctant to borrow for practically any new projects. And if deflation becomes a problem, with prices falling for a wide range of goods, then repaying even a loan at an interest rate near zero could become difficult.

Three other countries, Denmark, Sweden and Switzerland, already have negative interest rates. Deposits held by the European Central Bank have a negative rate: minus 0.3 percent.

Japan’s new negative interest rate, minus 0.1 percent, will take effect on Feb. 16. It will be assessed only on balances that commercial banks deposit at the central bank that exceed regulatory minimums.

The move buoyed markets in the region on Friday. The Nikkei 225 index of shares in Tokyo ended the day with a gain of 2.8 percent. After months of losses, the Shanghai market rebounded by 3.1 percent.

Despite the drastic move on Friday, the Bank of Japan could have gone even further, said Thomas Lam, the chief economist for industrialized countries at RHB Securities Singapore.

The central bank could have opted to expand its already considerable purchases of bonds, in a bid to drive near-zero interest rates in debt markets even lower. Not going that route could indicate a hope on the part of some Japanese central bankers that Mr. Abe’s government will also adopt fiscal measures to help the economy.

“This should at least be nudging the Abe administration toward more aggressive measures and positive fiscal initiatives,” Mr. Lam said.
Continue reading the main story

And in a global marketplace, Japan’s decision could have ripple effects, further clouding the outlook for the world economy.

The move to negative rates, for example, weakens the yen. That, in turn, creates a potential problem for China as Beijing struggles to contain outflows of money and prop up its own currency.

The People’s Bank of China, the country’s central bank, said last month that it was shifting away from pegging the value of its currency, the renminbi, closely to the dollar. Instead, it preferred to link the renminbi to a basket of currencies, with the yen playing one of the largest roles after the dollar. If it ends up doing so, it could result in a weaker renminbi, as the yen falls.

A parade of Chinese officials has reassured financial markets in recent days that Beijing will not tolerate any further depreciation of the currency. Beijing’s leaders, in part, are trying to stem a wave of outflows; Chinese companies and individuals have been sending large sums of money out of the country, fearing a repeat of the 4 percent devaluation of the renminbi last August.

But the pressure is swelling. By Friday evening, the yen was trading at 120.91 to the dollar, off 1.76 percent.
NRao
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Re: Global Economy

Post by NRao »

UlanBatori
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Re: Global Economy

Post by UlanBatori »

Allo!! Ppl here haven't see this?
Euro 'house of cards' to collapse, warns ECB prophet

The European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form, the founding architect of the monetary union has warned. Prof Issing said the euro has been betrayed by politics, lamenting that the experiment went wrong from the beginning and has since degenerated into a fiscal free-for-all that once again masks the festering pathologies..."The Stability and Growth Pact has more or less failed. Market discipline is done away with by ECB interventions. So there is no fiscal control mechanism from markets or politics. This has all the elements to bring disaster for monetary union.
"The no bailout clause is violated every day," he said, dismissing the European Court's approval for bailout measures as simple-minded and ideological.
The ECB has "crossed the Rubicon" and is now in an untenable position, trying to reconcile conflicting roles as banking regulator, Troika enforcer in rescue missions and agent of monetary policy. Its own financial integrity is increasingly in jeopardy.
Seems to agree with George Soros comments of February.
Vips
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Re: Global Economy

Post by Vips »

Ten years on, the lessons of the great recession fade.

The 10th anniversary of the Great Recession, a.k.a. the Great Financial Crisis of 2007-08, has inspired a spate of comments across the globe.

Almost without exception, they warn that the lessons of that financial crisis have not been absorbed, and another giant financial bubble is currently inflating its way to another huge bust. Yet, this near-unanimous chorus of warnings has not stopped stock markets across the world from reaching new heights. Greed is drowning out fear.

Many busts are caused by central banks tightening money. Today, we have the opposite: the greatest flood of money ever created (over $10 trillion, according to some estimates). The central banks of the US, China, Europe, Japan and Britain are at the forefront. What happens when these central banks try to return to normal, and the giant flood becomes giant ebb?

Asset Bubble
Optimists claim that central banks can manage the transition smoothly. The US Fed plans to move in baby steps, announcing its intentions well in advance to avoid panic. This assumes that markets are rational, when they are mainly creatures of panic and euphoria, boom and bust.

Much has been written about the printing of trillions of dollars by the US Fed after 2008. But the others are not far behind. A recent Financial Times column noted that the Bank of England, created in 1694, had a bank rate of around 4% through most of its history. This fell to 2% in the Great Depression, then rose and peaked at 17% in the inflationary 1970s, before returning to the historical 4%. After 2008, an unprecedented monetary stimulus has reduced the Bank rate to 0.25% today. The Bank has also bought £445 billion (about Rs 36,900 billion) worth of securities by printing money. This enormous stimulus has neither led to a boom in GDP nor in consumer prices. Instead, like stimuli in other countries, it has created a giant bubble in assets like bonds, equities and real estate.

Many financial analysts fear that the next bust may come not from Western central bank action but from China. This country encouraged a lending boom to rescue the economy after 2008. But that now seems out of control. China’s debt has exploded from $6 trillion to $28 trillion, and its ratio to GDP is up from 140% to 260%. James Anderlini of the Financial Times ( ‘China’s economy is addicted to debt ’) says this has created “an economy addicted to borrowing and afflicted with serious asset bubbles.

The ultimate test will come when Beijing eventually attempts to wean the country off this debt dependence.” Historically, bonds and equities have moved in opposite directions. Today, both are at all-time highs. Not because this makes economic sense, but because the tidal wave of central bank money has to be put somewhere.

So, financiers are plunging into bonds and equities simultaneously, as in the bad old days of 2003-08. They are also plunging into junk bonds, and even junk countries. Argentina has repeatedly defaulted on its foreign debts in the last 100 years. Yet, in the current financial madness, it has successfully sold 100-year bonds, a privilege once restricted to the most creditworthy nations. Mohammed El-Arian, chief economic adviser of Allianz, complains of a “liquidity delusion” that cheap money will will continue to flood in forever. So, there is too much risk in soaring markets.

Its Uncorny
Such a huge bubble typically occurs when three things happen simultaneously. One, the arrival of an exciting new ‘disruptive’ technology that is difficult to value in the short term, but has huge potential. The second is easy market liquidity to help investors roar into markets. The third is cheap credit.

All three elements are in evidence today. The new technologies include electric cars, hyperloops, artificial intelligence and companies with ‘network effects’ (like Uber, Facebook and Amazon). Liquidity is massive and cheap. (Some bonds carry negative interest rates.)

Ruchir Sharma of Morgan Stanley says “the scale of today’s tech boom is not readily visible because much of the investment action has moved into the hands of big private players. In 1999, nearly 550 startups went public, and after many ended in disaster, the government tightened regulation of public companies. In part to avoid that red tape, this year, only 11 tech companies have gone public.”

“Many are raising money instead from venture capitalists or private equity funds. Venture capitalists have poured more than $60 billion into just the technology sector every year for the last three years — the highest flows since the peak in 2000 — and private equity investors say there has never been a better time to raise money.” Many hyped companies (now called ‘unicorns’) have never made a profit.

Yet, investors have thrown huge sums at them, raising their valuations above $1 billion each. The world now has over 260 unicorns, including many in India.

A bust is certain everywhere (including India). But nobody knows when. The 2003-08 boom proved that markets could soar for years after being declared irrationally exuberant. Cynics are still buying, hoping to double their money before the bubble bursts. It’s a risky strategy.
Vips
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Re: Global Economy

Post by Vips »

US could become world's oil king in 2018.

The US could become the oil world's new king in 2018 as it was poised to ramp up crude oil production by 10 per cent to about 11 million barrels per day, according to a report.

The report by research firm Rystad Energy on Wednesday said surging shale oil output should allow the US to dethrone Russia and Saudi Arabia as the planet's leading crude oil producer, reports CNN.

The US has not been the global leader, nor ahead of both Russia and Saudi Arabia, since 1975.

"The market has completely changed due to the US shale machine," said Nadia Martin Wiggen, Rystad's vice president of markets.

The prediction shows how the fracking revolution has turned the US into an energy powerhouse -- a transformation that President Donald Trump vowed to accelerate by cutting regulation.

This long-term shift has allowed the US to be less reliant on foreign oil, including from the turbulent Middle East, the report said.

US oil production slipped but did noy completely collapse after Saudi-led OPEC launched a price war in 2015 aimed at reclaiming market share lost to shale and other players, CNN reported.

A massive supply glut caused crude to crash from around $100 a barrel to a low of $26.

Cheap prices forced shale companies in Texas, North Dakota to dial back. Domestic output bottomed at 8.55 million barrels per day in September 2016, down 11 per cent from the peak in April 2015, according to the US Energy Information Administration (EIA).

Meanwhile, US oil imports have dropped by 25 per cent over the past nine years, the EIA said.

At the same time, US oil exports have flourished since the 40-year ban on shipping crude overseas was lifted in 2015. Exports have more than tripled over the past year to record highs.

The US still imports more oil than it exports, but that gap is shrinking.
Dipanker
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Re: Global Economy

Post by Dipanker »

India's richest 1% corner 73% of wealth generation: Survey
DAVOS: The richest 1% in India cornered 73% of the wealth generated in the country last year, a new survey showed today, presenting a worrying picture of rising income inequality.
Peregrine
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Global Economy

Post by Peregrine »

Is the worst over?

Emerging markets’ currencies have staged a comeback

But threats to growth remain

After dusk men from Lea Lea, a village in Papua New Guinea, wade into the Coral Sea to spear fish sleeping near the seabed. Their torches twinkle in the darkness. But they are easy to miss against the riot of illumination from a $19bn liquefied natural gas plant. Built by ExxonMobil, it stores natural gas from the country’s highlands, which is piped to tankers at the end of a jetty over a kilometre in length.

When the plant was opened in April 2014, the oil price was well over $100 and gas was similarly valuable. Energy prices have since plummeted, but Papua New Guinea’s currency, the kina, has been allowed to fall only gradually. Its strength has hurt the country’s other exports, including coffee, tourism and fish. And because foreign exchange is underpriced, the central bank has been forced to limit its availability. A decline in Papua New Guinea’s currency would, then, be a relief for many.

That sets the country apart from many developing countries, including several represented at the Asia-Pacific Economic Co-operation (apec) summit in Port Moresby, the country’s capital, last week. Their currencies have already fallen quite enough this year, thank you. Russia’s rouble has declined by over 20% from its highest point of the year to its lowest. Other apeccurrencies have also suffered, including Chile’s (which declined by over 15% from its peak to its trough), Mexico’s (over 13%), and Indonesia’s (over 12%).

At the gathering Malaysia’s prime minister, Mahathir Mohamad, recalled the speech he gave at the same summit 20 years ago. Back then, amid Asia’s financial crisis and Russia’s default, emerging markets were “thrown into utter disarray by currency speculators [who] were laughing all the way to the bank”, he said. But this year speculators have not had things all their own way.

Few of the big emerging markets still offer foreign-exchange traders anything resembling a one-way bet. The “extreme currency misalignments” that prevailed at the start of the year have now been largely corrected, according to the Institute of International Finance (iif), a think-tank. Better-aligned currencies have also begun to work their magic on trade imbalances. Turkey’s exports were 22% higher this September than last. Its current-account balance could turn to surplus by the end of 2018, according to the iif. In Argentina, meanwhile, falling imports helped the country post a trade surplus in September.

Indeed, many of the emerging-market currencies that suffered most in the summer have staged partial rebounds—enjoying a snigger, if not quite a laugh, at speculators’ expense. Turkey’s lira bottomed out in August and has since gained over 25%. The currencies of Argentina, Brazil, Russia and South Africa hit bottom the following month and have climbed substantially since. Those of India and Indonesia fell less sharply and bottomed out less quickly. But even they have eked out gains against the dollar in recent weeks (see chart).

Image

Floating currencies can change direction as quickly as the fish in the Coral Sea. Other macroeconomic forces turn more slowly. In Turkey and Argentina, inflation and growth are still heading in an unwelcome direction. Prices rose by more than 45% in Argentina in the year to October, and by 25% in Turkey. Reining inflation in will require a painful slowdown in activity. And that is what is under way. Industrial production in Argentina fell by 11.5% in September, compared with a year earlier. Car sales in both countries are collapsing.

Elsewhere, however, inflation remains remarkably contained. In both India and Indonesia it is below 4%, and in Brazil below 5%. Cheaper oil should help reduce price pressure even further. That will weaken one rationale for hiking interest rates and thus reduce one obvious threat to growth. Taken as a group, emerging markets grew faster in 2017 and 2018 than in the two prior years, according to Capital Economics, a consultancy. The sell-off has slowed that recovery but not yet reversed it. And despite the trade war being waged by America’s president, Donald Trump, exports have been surprisingly strong.

This strength may reflect buyers of Chinese goods racing to place orders before American tariffs rise. Many emerging markets worry that if the trade war escalates, China will let its currency weaken in response, with unknown consequences for investor sentiment. The yuan may be the only major emerging-market currency that has not reached its low for the year. Testy exchanges between the two superpowers during the apecevents in Papua New Guinea will have done little to calm nerves.

For the host country’s entrepreneurs, the trade war must seem an extraordinary indulgence. They face two adversaries, poverty and geography, that are more devastating than protectionism to trade. Long distances and patchy infrastructure mean that the cost of shipping local handicraft to the outside world can double the price. Crystal Kewe, a 20-year-old self-taught computer programmer in Port Moresby, won apec’s backing to launch an e-commerce site for bilum, traditional string bags in which Papuans carry infants, food and much family pride. But the cost of shipping keeps export markets out of reach for now. She aims instead to sell to tourists and other visitors, who pay to ship themselves to the product.

The bags are laden with symbolism, according to Sharlene Kylie Gawi, owner of Bilum Culture, a local bilum business. Each loop is like a member of society. Some bear a lot of weight, others less. Some threads add colour; plainer ones allow the patterns to stand out. But each loop is connected to the others. Thus described, the bags could also represent emerging markets. Argentina and Turkey have stood out this year, yet remained bound to other markets through threads of sentiment. But it is China, as ever, that carries the most weight.

Cheers Image
Neshant
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Re: Global Economy

Post by Neshant »

It's an award for burying their country in debt

------

China honours Pakistan, Sri Lanka, Maldives envoys with 'BRI awards'

https://timesofindia.indiatimes.com/wor ... 713036.cms
Austin
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Re: Global Economy

Post by Austin »

:rotfl: :rotfl:
suryag
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Re: Global Economy

Post by suryag »

FWIW we are at 54
kit
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

https://eurasiantimes.com/vietnam-beats ... b-reports/


Vietnam has emerged as an attractive foreign direct investment (FDI) destination in Asia by beating China and India, a report by the Economist Intelligence Unit (EIU) has indicated. The Southeast Asian nation has become a new hub for low-cost manufacturing in Asian supply chains.
Something that has worked in the favor of Vietnam is the ever-changing policies as per the market demand. Former Prime Minister of Vietnam Nguyen Tan Dung had even written for the World Economic Forum that it was the vigorous changes in the business and investment climate that made the country attractive for FDI.

He also pointed out that socio-political stability and population structure helped win investors’ trust in the Vietnamese market. It is pertinent to mention that initially Vietnam had allowed the state-owned enterprise to compete with foreign investors but witnessing attacks on foreign-owned enterprises, the government immediately switched the policy.

The recent free trade agreement between Vietnam and the European Union has benefitted the country as the EU lifted 85 percent of its tariffs on Vietnamese goods in 2020. The report states the FTA’s biggest gains were witnessed by footwear manufacturers in Hanoi.

Around 40% of exports to the EU in footwear manufacturing faced 30% tariffs, which were completely withdrawn from August 2020. The country had registered FDIs worth over US$12 billion between January and April 2020
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Prem »

This is Chinese factories masquerading and working using the Name of Vietnam. Same game which has made Made in China to switch to Made in PRC.
ArjunPandit
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Re: Global Economy

Post by ArjunPandit »

interesting thing happening in us markets..with regards to some stocks...we have seen such mania in past..but some are definitely getting rich...wall street hedge funds getting bloodied nose first time by main street folks ganging up...in brf terms, guerilla war against wall street as wall streeters have rules to follow results to show and times to square positions..it will be interesting to see this game...

https://www.wsj.com/articles/amcs-pande ... 1611787370
https://www.wsj.com/podcasts/the-journal
https://www.wsj.com/articles/gamestop-i ... _lead_pos6

some stock market bubble crash is due in these small pockets...
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Re: Global Economy

Post by Ambar »

Not since the collapse of Berlin wall have we seen a coming together of political, economical, cultural, societal revolutions all at the same time as it is happening today. The populist "investors" pumping stocks of near-dead companies to crazy heights is as strange as it can get but maybe normal for the inverted reality 2020 seems to have ushered in. When have we ever seen the extreme right on 4Chan and extreme left on Reditt coming together for a common cause ? Steve Bannon and islamo-commie Rashida Tlaib both arguing for "free trade" ? Such interesting times we live in ..if Neshant was still posting he'd probably say this is just a culmination of 4 decades of mindless money printing globally.
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Re: Global Economy

Post by nachiket »

Wall street is showcasing the ridiculous levels of corruption they are used to. Hedge funds ganging up together to stop trading on Robinhood and other apps which small traders (like those guys in that subreddit) use. A class action lawsuit has been filed against Robinhood now. Some people actually complained that Robinhood sold their options and closed their GME position saying it was for their own good. Both left and right wing politicians coming together to condemn this behavior on twitter. You won't see AOC, Elon Musk, Ted Cruz and Elizabeth warren on the same side on pretty much any other issue. There was a billionaire complaining on CNBC that small traders were trying to hurt rich people by trading using their covid stimulus checks.
Thakur_B
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Re: Global Economy

Post by Thakur_B »

The GameStop fiasco is glorious to watch. The old guard had to resort to dirty tricks to save their buddies.
Suraj
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Re: Global Economy

Post by Suraj »

With the growth of India and China particularly in PPP terms, their share of global GDP vs % voting rights at multilateral institutions is laughably skewed now:
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China created the AIIB mainly to address this imbalance. India is not much served by the current power setup either.
venkat_kv
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Re: Global Economy

Post by venkat_kv »

Suraj wrote:With the growth of India and China particularly in PPP terms, their share of global GDP vs % voting rights at multilateral institutions is laughably skewed now:
Image
Image
China created the AIIB mainly to address this imbalance. India is not much served by the current power setup either.
interesting Graphs and data. Is there any way to review the voting rights or are they set in stone?
We probably won't take rights from Germany, Japan and Russia due to relations and their own economic, historical and geopolitical heft.
Maybe we can reduce UK's voting right and assimilate them into India's, to show the newer % increase in PPP terms.
Kaivalya
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Re: Global Economy

Post by Kaivalya »

venkat_kv wrote:
interesting Graphs and data. Is there any way to review the voting rights or are they set in stone?
We probably won't take rights from Germany, Japan and Russia due to relations and their own economic, historical and geopolitical heft.
Maybe we can reduce UK's voting right and assimilate them into India's, to show the newer % increase in PPP terms.
Unfortunately the voting rights are driven from the shared held by members and are not affected by other softer concerns like being representative etc.if a country chooses to increase their shares held it will naturally decrease some other country's % and hence voting rights

https://www.worldbank.org/en/about/lead ... tingpowers
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Re: Global Economy

Post by Cyrano »

Some interesting takes by former FM of Greece (they've been there, done that...)

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Re: Global Economy

Post by Dilbu »

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