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Aleksi B

China set to test loans, subsidies to support farmers - Economic Times - 0 views

articles.economictimes.indiatimes.com/...ckpiling-ndrc-sugar-conference

China loans farms Government subsidies

shared by Aleksi B on 09 Nov 13 - No Cached
  • BEIJING: China is set to test using loans and subsidies to support farmers from next year
  • Reduced reliance on stockpiling, which has pushed domestic prices way above international markets, would be welcomed by local firms such as sugar and cotton mills that have had to shell out more for raw materials.
  • But in driving up domestic prices, the policy has fuelled a surge in cheaper imports, benefiting overseas suppliers rather than the local market.
  • Aleksi B on 09 Nov 13
     
    This article tells us about how China will soon be experimenting granting farmers loans to help them in producing more food. With more farmers being able to borrow money they can turn that money into profit by harvesting and selling sugar, cotton, soy and corn
Daniel Soto Aggard

Student Loan Forgiveness: Too Good to Be True? - 0 views

www.huffingtonpost.com/...-forgiveness-_1_b_6889754.html

Debt Forgiveness

shared by Daniel Soto Aggard on 23 Mar 15 - No Cached
  • Daniel Soto Aggard on 23 Mar 15
     
    Student loans in the United States have been known to be financially crippling, however there is now an act set in motion that will benefit the students to take loans to complete their higher education. Taking a step in the right direction as education should be a privilege granted to everyone.
Haydn W

IMF warns UK of lingering housing and mortgage market risks - Business News - Business ... - 3 views

www.standard.co.uk/...gage-market-risks-9780019.html

Supply-Side London UK Housing

shared by Haydn W on 07 Oct 14 - No Cached
  • IMF warns UK of lingering housing and mortgage market risks
  • The UK faces lingering risks from housing and mortgage markets despite remaining on track for the fastest growth among the world’s leading economies this year, the International Monetary Fund said today.
  • has pencilled in growth of 3.2% this year — unchanged from its last July update despite a slew of downgrades for several members of the stagnating eurozone.
  • ...8 more annotations...
  • This is the highest rate forecast among advanced economies, although the IMF has trimmed global forecasts amid fears over a “weak and uneven” recovery in Europe and parts of Asia.
  • The body, led by Christine Lagarde, said the “US and the UK in particular are leaving the financial crisis behind”
  • The Bank of England has identified the housing market as a “blinking warning light” on the economy’s dashboard following the introduction of the Help to Buy scheme last year
  • In June it introduced limits on high loan-to-income home loans to prevent borrowers over-extending themselves, while tighter mortgage lending criteria are slowing runaway prices.
  • The Bank’s latest credit conditions survey found a “significant” fall in the availability of home loans in the past three months after eight successive quarters of expansion.
  • The IMF also warned that more measures such as tax incentives and freeing up land were necessary to improve the rate of housebuilding and keep a lid on runaway house prices.
  • “Supply-side measures are crucial to safeguard housing affordability and mitigate financial stability risks,” it added.
  • Household debt levels remain high at 140% of GDP and, if the Bank’s limits on the lending market fail to gain traction, it may be forced to raise interest rates instead
  • Haydn W on 07 Oct 14
     
    This article from the London Evening Standard details how the IMF have warned the UK government over remaining household debt and the dangers it poses to the economy. The IMF have also called for 'supply side measures... to safeguard housing affordability' - a growing problem in both London and the UK as a whole.
Haydn W

EU, China Reach Tentative Deal to End Telecom Equipment Tariff Threat - WSJ - 3 views

online.wsj.com/...pment-tariff-threat-1412870909

Wall Street Journal Tariff China EU

shared by Haydn W on 28 Oct 14 - No Cached
  • The European Union and China have reached a tentative deal that will end the threat of punitive import tariffs on Chinese telecommunications equipment makers
  • Chinese Minister of Commerce Gao Hucheng and the EU Trade Commissioner Karel De Gucht are expected to meet in Brussels on Oct. 18 after the Asia-Europe summit meeting in Milan to complete the agreement, an EU official said.
  • The agreement would sweep away the cloud of tariffs that has been hanging in particular over Huawei, which has become a major supplier of equipment to European telecommunications companies.
  • ...4 more annotations...
  • The European Commission, the EU’s executive arm, in 2013 said it was ready to start investigations into imports of mobile telecommunications equipment made by Huawei and ZTE, claiming the two companies received unfair subsidies from the Chinese government and were “dumping” their products onto the EU market at rock-bottom prices.
  • The agreement will create an entity to review the market-share of Chinese equipment manufacturers in the EU and European companies
  • China has also committed to further discussions on the hefty loans and loan guarantees that the government gives to Huawei and ZTE to finance their exports, mostly to the developing world, the official said.
  • That represents a modest victory for the EU in an area that is highly sensitive for the Chinese government.
  • Haydn W on 28 Oct 14
     
    The European Union have reached an agreement with China to end the threat of EU tariffs on Chinese telecommunications equipment. The tariff was going to be imposed as a form of protectionism to protect the European manufactures Ericsson, Nokia and Alcatel against the Chinese firms Huawei and ZTE. The Chinese firms are able to produce equipment cheaper than the European firms, due to more abundant natural resources, but also, crucially through subsidies from the Beijing government. The deal reached on October 9th, sees the Chinese companies granted a share of the market, but not access to it fully, as this is reserved for the European firms, to protect EU economic growth in such a tempestuous time, showing that, forms of protectionism still exist in the market, despite this agreement.
Haydn W

Greece's leader warns Merkel of 'impossible' debt payments - FT.com - 0 views

www.ft.com/...b5-11e4-982a-00144feab7de.html

Foreign Debt Greece EU

shared by Haydn W on 24 Mar 15 - No Cached
  • Greece’s leader warns Merkel of ‘impossible’ debt payments
  • Alexis Tsipras, the Greek prime minister, has warned Angela Merkel that it will be “impossible” for Athens to service debt obligations
  • The warning, contained in a letter sent by Mr Tsipras to the German chancellor and obtained by the Financial Times, comes as concerns mount that Athens will struggle to make pension and wage payments at the end of this month and could run out of cash before the end of April.
  • ...12 more annotations...
  • just before Ms Merkel agreed to meet Mr Tsipras on the sidelines of an EU summit last Thursday and invited him for a one-on-one session in Berlin
  • Mr Tsipras warns that his government will be forced to choose between paying off loans, owed primarily to the International Monetary Fund, or continue social spending.
  • He blames European Central Bank limits
  • “Given that Greece has no access to money markets, and also in view of the ‘spikes’ in our debt repayment obligations during the spring and summer . . . it ought to be clear that the ECB’s special restrictions when combined with disbursement delays would make it impossible for any government to service its debt,” Mr Tsipras wrote.
  • He said servicing the debts would lead to a “sharp deterioration in the already depressed Greek social economy
  • Mr Tsipras was rebuffed in efforts to secure quick financing from either the ECB or eurozone lenders at Thursday’s Brussels meeting
  • In an interview, Luis de Guindos, Spanish finance minister, said his eurozone counterparts would not sign off on any new bailout funding until a full set of approved reforms was passed
  • Mr Tsipras’s five-page letter is particularly critical of the ECB
  • The Greek prime minister insisted the ECB should have returned to “the terms of finance of the Greek banks”
  • Far from going easier on Athens, the ECB is considering whether to give its guidance to Greek banks more authority by making it a legally binding requirement not to add to their T-bill holdings.
  • He also criticised the ECB for only increasing the amount of emergency central bank loans to Greek lenders “at shorter intervals than normal and at rather small increments”
  • Mr Tsipras wrote that Athens was “committed to fulfilling its obligations in good faith and close co-operation with its partners”, he also warned Ms Merkel that a failure to find short-term funding could lead to much bigger problems.
Amanda Anna G

Help-to-Buy: George Osborne makes major concession | Heather Stewart | Business | thegu... - 0 views

www.theguardian.com/...-buy-george-osborne-concession

Demand

shared by Amanda Anna G on 27 Sep 13 - No Cached
  • Subsidising high LTV mortgages in boom-bust UK housing market was political masterstroke – but economic madness
  • The centrepiece of this year's budget, Help to Buy was a political masterstroke, pumping up public confidence just as many potential buyers were thinking about returning to the estate agent's, and helping the government to claim credit for an upswing in the property market that had already been kicked off by the Funding for Lending Scheme.Economically, however, Help to Buy is madness, as the Treasury select committee, the International Monetary Fund and the outgoing governor of the Bank of England all lined up to say.
  • Offering taxpayer subsidies for high loan-to-value mortgages worth up to £600,000, just as the incorrigibly boom-bust British housing market is moving from stop-to-go mode, is at best risky, at worst, downright reckless.
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  • Initially, the Treasury's argument was that the scheme would help to spark a building boom, as the surge in demand for homes prompted developers to re-start long-stalled projects.Housebuilding has picked up modestly – but by common consent it remains well below the levels that would be required to keep prices stable.
  • Amanda Anna G on 27 Sep 13
     
    The "Help to Buy" was a political masterstroke since, among other things, the government got help with the claim for a credit for an upswing in the property market, helping to spark a building boom. I think, the offering taxpayer subsidies, will help allocate resources in the free market since more will get willingly to pay for houses. But this is risky for the British housing market, since the levels that would be required to keep prices stable will remain below what is needed.
Clemence Lafeuille

Does Debt Forgiveness Work? Ask Africa - 0 views

www.huffingtonpost.com/...forgiveness-wor_b_5318764.html

foreign debt debt forgiveness Africa

shared by Clemence Lafeuille on 21 Mar 15 - No Cached
  • Clemence Lafeuille on 21 Mar 15
     
    This article discusses the debt problems in Africa, and how these could potentially be solved. It explains how the loans were misused through issues such as corruption, and then it explains how African economies could still potentially manage to pay them off, through getting involved more in the global community
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