From Jan 1st - July 15th 2008, Oil moved from $96 - $146 while the US was in recession, big loser was retail $XRT off 22%
11 minutes ago
Asia Channel: Latest Posts
-
Asia
When Will China Emerge From the Global Crisis?
This posting is from the January 30 issue of my newsletter, and so ignores recent events in Chongqing, but of course those events make my discussion of the political debate entry all the more relevant, I think. Before getting to the policy debate, I want to mention that in late January Caixin, one of my favorite magazines, [...]
-
Asia
China’s Slowdown
Yesterday I was on China Radio International (CRI) talking about the latest figures and trends for the Chinese economy: the drop in real estate, record bank profits, weak trade and PMI data, and persistent inflation. The overarching question was whether the perceived slowdown in China’s economy is real, and how worried we should be about [...]
-
Asia
Global Monetary Relief from Asia
The ECB and BOE have shown their intent with their recent aggressive balance sheet expansions and the Fed is trying hard to keep the door open for more QE even as the data in the US continues to defy the general global slowdown. In Asia however sticky inflation in India, a desire to nail property [...]
-
RGE Analysts
Philippines: Reconciling Short-Circuiting Electronic Exports
The situation for Philippine exports is particularly dire, with the value of exports falling by 20.7% y/y in December 2011 after reaching a two-year low in September amid persistent weakness in external demand for the country’s electronic goods (Figure 1). Export growth contracted for its eight consecutive month, while electronic exports contracted for its eleven [...]
-
Asia
Central Banks: Contrasts in Asia-Pacific
Reserve Bank of Australia: surprise inaction Last week, the Reserve Bank of Australia surprised us by leaving the overnight cash rate (the official cash rate) unchanged at 4.25%. Most of us had anticipated a rate cut and, in fact, thought it was a shoo-in, given weak trends in retail sales, building approvals and employment. In [...]
-
Asia
BoJ Joins the Race
At Tuesday’s monetary policy meeting, the Bank of Japan inched closer (a lot closer?) to joining the European Central Bank and the Federal Reserve Board of the US in blanketing the world with money. Quite a bit of confusion is evident in the English translation of the Bank of Japan decision. I, for one, have [...]
-
Asia
For a Fair, Free Trade Pact with Europe
This article first appeared in The Hindu on February 9, 2012. Since 2007, India and the European Union have been negotiating a comprehensive free trade agreement — officially known as Bilateral Trade and Investment Agreement (BTIA) — covering trade in goods and services besides rules pertaining to cross-border investments, competition policy, government procurement and state [...]
-
Peterson Institute for International Economics
The Myth of China’s Giant Fiscal Deposits
There is a recurring notion that pops up every now and then that the Chinese government has a giant rainy day fund. When growth slows but banks are constrained in expanding lending, analysts start to call on China to tap into these reserves to finance fiscal stimulus. Macquarie: “Running down PBC [People’s Bank of China] [...]
-
Peterson Institute for International Economics
The KORUS Blues
Setting aside Syria, South Korea may be the only country in the world with politics more polarized than the United States. While in Seoul last week I was reminded of this when the leaders of the political opposition attempted to march on the US embassy to deliver letters addressed to President Obama and Vice President [...]
-
RGE Analysts
RGE’s Arnab Das – Rupee Will Underperform, Not Bullish on it
In an interview with ET Now, Arnab Das , MD, Roubini Global Economics talks about how the Indian economy will grow this year with a special emphasis on the country’s investment cycle and rate cuts. Excerpts: ET Now: What are your views on the projected sub-7% growth and the correction in inflation? Is it as [...]
