HONG KONG: Inflation surged further in China last month, with consumer prices up 8.7 percent from a year earlier, the fastest pace in more than 11 years, China’s National Bureau of Statistics announced Tuesday morning. Food prices were the biggest contributor, up 23.3 percent from a year earlier. Blizzards in China damaged harvests and interfered […]
Category Archives: China
Talk about bad weather! “Many trees have fallen… and the electric lines are down. It is as if we had suffered an aerial attack or lost a battle. This is a terrible disaster. We’re hungry and cold.” This message comes from China, via our Buenos Aires correspondent, Horacio Pozzo. He goes on to tell us: […]
As I discussed previously, the Chinese currency wild-card may become relevant far sooner than expected. An effort by China to convert its $1.4 trillion U.S. Treasury holdings into euros is not viable for many reasons — not the least of which is the European Central Bank’s inability to absorb such an event. As China continues […]
CHINA is running out of fuel. Police are guarding petrol stations in several inland provinces to prevent fights, as shortages of petrol and diesel are causing huge queues of trucks, buses and cars. In Kunming, capital of the southwestern province of Yunnan, 1000 trucks are stranded. A truck driver named Li told the Chuncheng Evening […]
Bloomberg reports that, “China urged local governments to set up an early warning system to ensure sufficient oil supplies at filling stations, which face shortages across the nation.” China faces chronic energy shortages and the social and political instability those shortages foster with the population. Do you get the feeling the communists in Beijing are […]
The only place for Chinese profits to go is overseas, writes John Garnaut in Beijing. This week, a large portion of the world’s most powerful bankers gathered in matching black suits, black socks and dyed black hair to compare notes on the global financial system and respond to the international media. The men included the […]
Dubai: Asset diversification by the Gulf sovereign wealth funds and the possibility that the Organisation of Petroleum Exporting Countries (Opec) will change the pricing of oil from the dollar to another currency could mean more trouble for the dollar.The dollar has been losing its charm as a reserve currency due to its persistent weakness against […]
China Investment Corp., the nation’s US$200 billion ($246 billion) sovereign wealth fund, has started operations as the Government seeks to boost returns on the world’s biggest foreign-exchange reserves. The investment agency will come under the direct supervision of the nation’s cabinet, the State Council. Lou Jiwei, former vice finance minister, will act as director and […]
Posted by Dan Denning on Apr 30th, 2007 Is China’s fantastic bull market just an extension of the world’s tawdry and very public love affair with cheap credit? We’ll begin to find out this week as the Bank of China again raised reserve requirements at commercial banks. This is meant to reduce bank lending in […]
By Ambrose Evans-Pritchard Last Updated: 8:39pm BST 10/08/2007 The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation. Blog – Dollar to collapse? Fistful of dollars – China’s trade […]
The Chinese Government denies it is involved in attempts to hack into New Zealand Government computer systems – despite strong hints that its spies’ activities had been detected. The Security Intelligence Service has confirmed that its staff detected information has been stolen and software installed to take control of computer systems. Prime Minister Helen Clark […]
Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions. A lifelong Republican. By Paul Craig Roberts 09/10/07 “ICH’ — – The US economy continues its […]
LEADING bankers are warning of the worst crisis in the money markets for 20 years, which will come to a head this week when $113 billion (£57 billion) of commercial paper – market IOUs – comes up for refinancing. This huge refinancing, mainly through London, exceeds the $100 billion that became due in mid-August, and […]
September 10, 2007 | From theTrumpet.com Questions loom whether China is behind recent dollar sales—if it is, America’s way of life is about to change. The only question is how badly and how fast. By Robert MorleyThe U.S. dollar is standing at the edge of a cliff, and most people don’t even know it. Data […]
By Mike Whitney “The new capitalist gods must love the poor – they are making so many more of them.” Bill Bonner, “The Daily Reckoning” “The hope of every central bank is that the real problem can be kept from public view. The truth is that the public—even professionals on Wall Street—have no […]
Posted by Bill Bonner on Sep 3rd, 2007 We’ve talked quite a bit about ‘fat tails’ in these pages…about events that lie so far outside the normal course of events that we tend to push them equally far away in our consciousness, events that are so devastating that when they do occur they cancel out […]
By David Podvin Another Labor Day has arrived, making it the perfect time to examine how American workers are victimized by those who pledge friendship. Conservatives never betray laborers, if only because it is impossible to betray people you openly despise. It is progressives who seduce the working class with false promises of fidelity. In […]
by Bill Van Auken In his second foreign policy speech in less than a week, President Bush Tuesday portrayed the ongoing US military occupation in Iraq as part of a broader regional struggle to defend vital US interests against “radicals and extremists.” Contained in this speech was the explicit threat of widening the US war […]
by Richard C. Cook Global Research, July 23, 2007 U.S. Treasury Secretary Henry M. Paulson, Jr., has joined the chorus of those in high places who are warning of a major worldwide economic downturn. Paulson was quoted at length in a July 23, 2007, article in Fortune by Rik Kirkland entitled, “The Greatest Economic Boom […]
by Rodrigue Tremblay / August 22nd, 2007 The U.S. government is on a ‘burning platform’ of unsustainable policies and practices. – David Walker, U.S. Comptroller General Modern society, based as it is on the division of labor, can be preserved only under conditions of lasting peace. – Ludwig von Mises, Austrian economist People know that […]
By Walter T Molano (Asia Times) The US economy is down by the bow, and the prognosis does not look good. The final outcome is inevitable, and no one (outside the United States) is really surprised. However, how does Asia avoid contagion? At the current moment, the US represents almost half of global demand – […]
