Among the many iconic images in the Coens' Miller's Crossing: Rug Daniels - http://t.co/Gc41AAC8
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Asia Channel: Latest Posts
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Nouriel Roubini's Global EconoMonitor
Nouriel Roubini and Patrick Chovanec EconoMonitor Video – China: How Much Stress Can the System Take?
Nouriel Roubini sits down with Patrick Chovanec, associate professor at Tsinghua University’s School of Economics and Management in Beijing, China for a discussion on the likelihood of a hard landing in China and consider the short and medium term implications of policy adjustments, leadership transitions, and technology advancements. [22:20] [2:25] – How much of a [...]
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RGE Analysts
India’s Supreme Court Nails the Guilty, but Steps into Policy Making
On February 2, India’s apex court, the Supreme Court ruled that the 2G telecom licenses granted by the Indian government in 2008 were arbitrary in nature and hence should be scrapped. According to the order, all of the 122 licenses that were granted by the Telecom Ministry under the stewardship of A Raja will have [...]
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Asia
The Indian Churn
Ever since the Devas and Asuras churned the ‘Ksheerasaagaram’ (the ocean of milk) and found a lot of things – good and bad – India is associated with intellectual, social and political churn. Yesterday, the Supreme Court cancelled the allocation of licenses made by the previous Telecom Minister for 2G spectrum. Several friends threw up [...]
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Asia
‘Vulnerable to External Influences’ – The Economic State of Australia (Part 2)
Here is Part I. A Fork in the Economic Road … The commodity boom has created a “two track” economy. The mining and commodity boom benefits a small part of the economy whilst simultaneously creating problems for other parts. The mining and energy sector account for less than 10% of the Australian economy. This is [...]
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Asia
‘Vulnerable to External Influences’ – The Economic State of Australia (Part I)
Australia has been one of the world’s best performing economy. But its success in avoiding the worst of the global economic problems may not continue. Australia’s future is inextricably linked to China and the commodity “super boom”. Australia economic prospects remain vulnerable to international developments outside its control. Escaping Acronyms… The popular narrative is that Australia [...]
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Asia
RBI’s CRR Cut
Bloomberg consensus expectations pointed to no change in monetary policy setting in India, ahead of the meeting of the Reserve Bank of India (RBI) held on January 24th. However, RBI left interest rates unchanged but reduced the cash reserve ratio (CRR) to 5.5% from 6.0% effective from January 28th. Many feel that the RBI had [...]
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Asia
Building Debt in China
Before starting on the subject of debt I wanted to make a quick reference to something sent to me by Charles Horner, a senior fellow at the Hudson Institute. I am glad to say that the overinvestment thesis is much more widely acknowledged today than it was even two or three years ago, but one [...]
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The Wilder View
Japan’s Lopsided Financial Balances
Tim Duy and Paul Krugman discuss the merits and failures of Japanese policy. The sectoral snapshot of the economic financial balances shows that Japanese policy was indeed a success but also a failure. First, policy was a success, given the private sector was recuperating from the bursting of a credit and investment bubble. The chart [...]
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Asia
Further Thoughts on Real Estate’s Impact on China GDP
In my previous post, I offered a rough-and-ready estimate of the impact that a real estate slowdown could potentially have on China’s impressive rate of GDP growth. Based on some of the official figures for 2011, released earlier this week, I concluded that a mere leveling off (zero percent growth) in property investment — much [...]
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Asia
Japan, Revisted
I haven’t had a chance to comment on the recent debate regarding Japan’s lost decades, so I am coming to the party a bit late. A view is forming that the situation is not as dire as many believe. Paul Krugman notes: This picture suggests that the Japanese economy was indeed depressed for about [...]
