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kevinan108

China's easing aimed at housing market - MarketWatch - 0 views

www.marketwatch.com/...d-at-housing-market-2012-05-14

China housing bubble cooling slowgrowth banks

shared by kevinan108 on 18 May 12 - No Cached
  • The People’s Bank of China announced on Saturday it plans to lower then the ratio of reserves bank must set aside as deposits at the central bank by a half percentage point, effective Friday.
  • Investment in real estate was up 18.7% in the first four months of the year, cooling significantly from a 23.5% gain in the first three months of the year, according to official figures released Friday. The data weren’t broken down on a monthly basis.
  • The numbers indicated property developers were cutting back on land purchases, with outlays on sites of 182 billion yuan ($28.81 billion) in the January-to-April period, a drop of nearly 14% from a year earlier.
  • ...1 more annotation...
  • Standard Chartered said developers’ concerns over the property market were reflected in data showing residential investment hitting the wall in April, growing just 4% during the month, compared to a 15.1% year-on-year rise in March.
Kostya Golovan

Bank of Canada fears weak growth in global economy - The Globe and Mail - 1 views

www.theglobeandmail.com/...article2435853

shared by Kostya Golovan on 17 May 12 - No Cached
  • rich countries like the United States and much of Europe do too little to attack their budget and trade deficits, or if emerging giants in Asia refuse to relax capital controls or allow their currencies to appreciate more quickly.
  • Essentially, global economic output would be 8 per cent -- or $6-trillion (U.S.) -- less by 2015 if a range of G20 commitments reinforced late last year at a summit in Cannes, France, are not implemented.
  • China’s GDP would be 12 per cent smaller
  • ...12 more annotations...
  • “Fiscal consolidation in the United States and Europe, flexible exchange rates and structural policies to stimulate domestic demand in the emerging-market economies of Asia,
  • Delays, meanwhile, could have “severe negative consequences,” leading to “a significantly weaker global economy” and a less stable global financial system.
  • world economic activity would be 7 per cent lower in 2015.
  • The clear message here is both sides of this delicate dance not only need to do their part but, just as crucial, they need to co-ordinate their efforts.
  • A lot of this will sound familiar to anyone who follows global economics from the point of view of the Bank of Canada. Governor Mark Carney also chairs the Financial Stability Board, a G20-linked body tasked with making international finance less of a threat to the wider economy, so he has spoken on these issues many times and outlined the potential benefits of adopting stricter banking rules. But the message about global co-ordination is still ti
  • mely.
  • Chinese imports barely grew in April, causing the country's trade surplus to balloon to $18.4-billion (U.S.) from $5.3-billion the previous month, indicating that consumers and businesses in the faster-growing emerging markets are still not ready to pick up
  • China, until recently, had made strides in narrowing its current-account surplus (which reflects the country’s over-reliance on exports as opposed to domestic spending).
  • U.S. trade deficit that grew 14 per cent in March
  • The U.S. itself is now a more balanced economy that relies less on debt-fuelled spending.
  • But it is smaller and weaker than it was at its pre-crisis peak, and will probably never regain that past form. So its ability to drive global growth is limited
  • work together and get this right, or both will suffer.
  • Kostya Golovan on 18 May 12
     
    The Bank of Canada predictions for the future are grim. If the range of commitments made last year in Cannes, France are not fulfilled, the worldwide economy will shrink by 8%, or $6 trillion dollars, by 2015. China's imports barely grew in April pushing the countries trade surplus to $18.5 billion, from $5.3 billion. China is over-dependent on the consumers outside of its borders while its domestic consumption is extremely low.
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