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Simon Strong

Dollar Poised for Weekly Drop as U.S. Job Losses Seen Slowing - Bloomberg.com - 0 views

  • Simon Strong
     
    The U.S. currency declined most compared with the South Korean won and the New Zealand dollar, sending the Dollar Index 0.1 percent lower. The euro was poised for a weekly gain versus the yen before data economists expect to show German factory orders rose for a seventh month. The Australian dollar climbed against all but two of its 16 major counterparts after the central bank said the nation's economy will expand at more than three times the pace it forecast in August.
Jason Welker

A special report on China and America: : Round and round it goes | The Economist - 3 views

  • China, a developing country, lent vast amounts of money to wealthy America to feed its spending habit. Americans spent the money on Chinese-made goods, sending the dollars back to China, which lent them to America again.
    • Jason Welker
       
      China lends in the capital account, US spends in the current account!
  • for its growth, and on America in particular. By 2007 the value of China’s exports amounted to about 36% of its GDP, up from just over 20% in 2001.
    • Jason Welker
       
      China's export sector crucial to its economy... perception is that trade surplus is necessary for economic growth
  • American market, overtaking Canada. And by September 2008 China had surpassed Japan as the largest holder of US Treasuries
  • ...7 more annotations...
  • China certainly helped its exporters by keeping the value of its currency low, buying dollars that were used to buy US Treasuries.
    • Jason Welker
       
      China's managed exchange rate. Beijing's purchase of USD keeps dollar strong, RMB weak
  • e much of the value of Chinese goods consumed in America was created elsewhere. The biggest driver of growth in China was investment, and that has become all the more true as China tries to pump up its economy with nearly $600 billion in stimulus spending.
    • Jason Welker
       
      America might not be as crucial for Chinese growth as previously thought! Domestic investment is biggest factor now!
  • trading system, but it has no desire to pull the rug from under America’s economy. A run on the dollar would be a blow to China itself, slashing the value of its stash of over $800 billion in US Treasuries. Chinese officials also worry openly about a possible resurgence of inflation in America, which would also drive down the value of the dollar.
    • Jason Welker
       
      China is worried about the dollar's value, but is not likely to sell its dollar assets, since this would surely devalue the dollar and harm China too.
  • A recent study by the Peterson Institute says that the yuan remains “significantly undervalued”, by 15-25% against a weighted average of the currencies used by China’s trading partners
  • As Americans save more and buy less from China, America’s trade deficit with China—which has been its biggest with any country since 2000—will shrink anyway. But protectionist sentiment in both countries will remain strong.
  • Americ
  • reject a takeover bid by Coca-Cola for a Chinese juice company as a bad omen. As Chinese businesses look around America for bargains, they will get a mixed reception: sellers are eager for China’s cash, but worried about the survival and security of Brand America
    • Jason Welker
       
      Chinese continue to demand US assets in the capital account, but American businesses are reluctant to sell to Chinese investors...
Jason Welker

Swiss Banking Is Finished - 0 views

  • Jason Welker
     
    Switzerland's decision to start playing ball with other governments on issues like tax evasion and the arrest of Roman Polanski has destroyed the country's reputational capital, which formed the core of its banking system. If you can't safely park your cash, bearer bonds, gold, and other valuable in Swiss Banks, without a 100% iron-clad guarantee of your security and secrecy, what's the point?
  • Jason Welker
     
    Switzerland's decision to start playing ball with other governments on issues like tax evasion and the arrest of Roman Polanski has destroyed the country's reputational capital, which formed the core of its banking system. If you can't safely park your cash, bearer bonds, gold, and other valuable in Swiss Banks, without a 100% iron-clad guarantee of your security and secrecy, what's the point?
Marc L

Forget China, Brazil's a cheaper investment. - 1 views

  • Marc L
     
    Brazil's once-troubled economy has bounced back from the global financial crisis more quickly than many. Brazil will host the 2014 World Cup and the Olympics in 2016, and is one of the best developing nations to invest in at the moment... Although nothing about exchange rates is mentioned, we can assume the Real will appreciate to many stable currencies, as all this investment in Brazil requires Reals, increasing demand for the currency. Determinants such as the higher realtive interest rates in Brazil, and the speculation I am engaging in right now should also make that happen.
Jason Welker

Excuse me, China… could you lend us another billion? | Welker's Wikinomics Blog - 1 views

  • Jason Welker
     
    What's the deal with American consumers? How, exactly, does a nation's average savings rate fall to 2%, then 1%, and then become negative, like in the US over the last couple of years? What does negative savings actually mean? It means that Americans consumer more than they actually produce.
Jason Welker

BEA : U.S. International Transactions Accounts Data - 13 views

  • Jason Welker
     
    This website contains Balance of Payments data for the United States over 2008 and 2009.
Jason Welker

The story of the stimulus - Paul Krugman Blog - NYTimes.com - 0 views

  • Jason Welker
     
    Paul Krugman tells the story of stimulus...
Jonathan R

EU, US eye green goods tax pact in climate fight - 0 views

  • Jonathan R
     
    I'm not using this for the commentary.
    The production and consumption of green goods has positive externalities.
    This is why a coalition of countries aims to remove any tariffs on these green goods, in order to encourage free trade within this sector.
Jonathan R

China-based tire makers advised to move to Malaysia - 0 views

  • Jonathan R
     
    Taken for my commentary.
    Malaysia is encouraging Chinese tire manufacturers to set up shop in Malaysia. Recently, the U.S. slapped a 35% tariff on Chinese tires to protect domestic producers. However, any tires produced by Chinese companies in Malaysia are not considered to be "Chinese" - a prime example of how Chinese firms can circumvent the new tire tariff.
Benji Bucket

EU Hits China, Brazil, Armenia With 5-Year Tax on Aluminum Foil - Bloomberg.com - 0 views

  • Benji Bucket
     
    The EU is practicing a protectionist policy, of taxing imports of Aluminium from China, Brazil and Armenia in order to help Greece and Bulgaria's Aluminium foil producers. These tarrifts will last 5 years, and is very damaging because of China's large market share.
Bastien Vogt

Protectionism not in U.S. best financial interest - 0 views

  • Bastien Vogt
     
    MINE!!! Leave it
    On Sept. 11, the Obama administration signed a resolution to increase tariffs on imported Chinese tires.

    Based on this resolution, a 35 percent increase in tariffs would affect the employment of about 100,000 Chinese employees and would also result in a loss of $1 billion in exports.

    The Chinese government is not only worried about the increase in unemployment but about the message the tariff is sending the rest of the world. The feeling is that this new move will produce a chain of trade protectionism.
alex han

channelnewsasia.com - China denies restrictions on EU pork imports - 1 views

  • alex han
     
    China doesn't only have problems with US but also the EU. WITH PORK. China has placed more trade restrictions - inspections for quality. This is one of the kinds of non-tariff protectionisms we learnt...
  • Benji Bucket
     
    Hey Alex, great article, can I use it?
Daniel Edmonds

DANIEL'S commentary article: Burnt Rubber: Tire Firms Decry New Tariff - WSJ.com - 0 views

  • However, businesses and advocates say the government's invocation of the statute amounts to a startling precedent that could set the stage for more tariffs. Now, many small firms — which were more vulnerable to the downturn than larger companies — are worried about getting caught in the middle of a potential trade war between the U.S. and China
    • Daniel Edmonds
       
      Retaliatory tariffs a possibility!
  • Daniel Edmonds
     
    If you're in the business of selling tires, you probably received some unwelcome news earlier this month.


    A 25% to 35% tariff on passenger and light truck tires imported from China went into effect on Sept. 26, and is set to expire after three years. Two weeks earlier, President Barack Obama had said that the United States would levy the tariff to account for a market disruption caused by an increase in imports.
  • Daniel Edmonds
     
    This is my article that i want to use please do not use it.
Jason Welker

Video: Joseph Stiglitz: The Balance Sheet : The New Yorker - 0 views

  • Jason Welker
     
    VIDEO: JOSEPH STIGLITZ

    James Surowiecki spoke with Professor Joseph Stiglitz, the Nobel Prize-winning economist, about the mishandling of the financial crisis, the relationship between government and markets, and the future of capitalism around the world. They met last month at Stiglitz's office at Columbia University.
Maren Rackebrandt

EU imposes duties on pipes and foil from China - 0 views

  • Maren Rackebrandt
     
    Europe has imposed a five-year anti-dumping duty on seamless steel pipes and aluminum foil from China.
    The China Steel Industry Association of course opposes this tariff because it will hurt the steel industry and cause unemployment.
Dom McNamee

VIET NAM NET - 0 views

  • Dom McNamee
     
    In Vietnam the seafood processing plants have the capacity to process more fish than what the seas around Vietnam can provide. The exporters of Vietnamese seafood want the government to lower import tariffs on unprocessed seafood so that they can export a greater quantity. This comes after Spain announced that Vietnamese seafood meets the EU standards for hygiene They have been importing 400,000 tones per year of Vietnamese seafood.
Laura Perez

Argentina imposes anti-dumping measures on Chinese products _English_Xinhua - 0 views

  • Laura Perez
     
    Argentina is carrying out anti-dumping measures against China on polyester, textile threads and table wares. They are appyling aminimum custom value of $4.65 meaning that products imported at a lower price than this will be taxed to protect Argentinan workers. Similar measures are being imposed on Taiwan, India and Indonesia.
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