Time (January 10, 2014)
“Only a short time ago, the world’s emerging markets, especially the BRICs – Brazil, Russia, India and China – were supposed to be the saviors of the global economy…. Now, however, with the opening of 2014, many emerging markets look like they’re the ones that need saving.”
Tags: 2014, Brazil, BRICS, China, Emerging markets, Global economy, India, Russia
New York Times (January 10, 2014)
“For decades, Japan has defended its 778 percent tariffs on rice with a kind of religious zeal.” That may be coming to an end. With talks approaching over the Trans-Pacific Partnership, “urban Japanese — and even some farmers — are questioning exactly what those tariffs protect.”
Wall Street Journal (January 9, 2014)
“Recent numbers and announcements out of Beijing suggest that one of the biggest global risks for 2014 is a Chinese economic slowdown. Five years after unveiling the most massive economic stimulus program the world has ever seen, the bills are coming due. And while a crash remains unlikely, deleveraging could uncover some nasty surprises in the financial system.”
Tags: Beijing, China, Crash, Deleveraging, Economic stimulus, Financial system, Risk, Slowdown
Bloomberg (January 7, 2014)
A war of words has been playing out in London’s Daily Telegraph where the ambassadors from China and Japan have been “using wildly undiplomatic language to characterize” each other’s countries. In op-ed pieces, they both, in turn, accused the other’s country of being “Lord Voldemort.” While the Harry Potter jibes seem comical, “the exchange is a troubling sign, and one that raises questions about whether commercial ties will be enough to prevent Asia’s two big powers from sliding toward outright conflict.”
Tags: Ambassadors, Asia, China, Commercial ties, Conflict, Daily Telegraph, Harry Potter, Japan, Language, London, Lord Voldemort, Undiplomatic, War
Financial Times (January 6, 2014)
After spectacular performance in 2012, some fear the U.S. stock market is set for a correction. “For now, these worries are probably overstated. The current outlook has little in common with the rampant overconfidence that accompanied the great speculative excesses of the past. But there are reasons to believe that the preconditions for a bubble are in place.”
Tags: Bubble, Excess, Outlook, Overconfidence, Performance, Stock market, U.S., Worries
Institutional Investor (January 6, 2014)
Monetary expansion continues to be the central-bank fashion in much of the developed world. In contrast, the Central Bank of Russia (CBR), “has surprised the market with a hard-line monetary stance.” Instead of stoking short-term economic growth, CBR Governor Elvira Nabiullna is firmly committed to moderating inflation, and “most analysts credit her tight-money policy as the best option under the circumstances.”Monetary expansion continues to be the central-bank fashion in much of the developed world. In contrast, the Central Bank of Russia (CBR), “has surprised the market with a hard-line monetary stance.” Instead of stoking short-term economic growth, CBR Governor Elvira Nabiullna is firmly committed to moderating inflation, and “most analysts credit her tight-money policy as the best option under the circumstances.”
Tags: Analysts, Central Bank of Russia, Economic growth, Elvira Nabiullna, Inflation, Monetary expansion, Monetary policy, Russia, Tight-money policy
New York Times (January 4, 2014)
“Five months into the latest American effort to nudge Israelis and Palestinians toward a peace agreement, the one party clearly committed to a deal is the United States.” Over 20 talks have been held, with the U.S. Secretary of State John Kerry logging ten trips to the region. Despite these efforts to reach an agreement by the end of April, “there is no evidence of concrete progress, but there are increasing signs that both sides may be positioning themselves to blame the other if negotiations collapse.”
Tags: Agreement, Blame, Collapse, Evidence, Israel, John Kerry, Negotiations, Palestine, Positioning, Progress, U.S.
Washington Post (January 4, 2014)
On January 31, Ben Bernanke’s term as chairman of the Federal Reserve will come to an end as Janet Yellen’s begins. “Americans have been uneasy about central banks since the days of Thomas Jefferson and Jackson. But looking at Bernanke’s record, even the skeptics should grant that the country was lucky to have him when the crisis hit.” Bernanke “may go down as the most radical innovator in the Fed’s history — and one of the most successful.”
Tags: Andrew Jackson, Ben Bernanke, Central banks, Chairman, Crisis, Fed, Innovator, Janet Yellen, Radical, Skeptics, Success, Thomas Jefferson, U.S.
Gulf News (January 1, 2014)
The home to the world’s tallest skyscraper claimed another spectacular record with the world’s largest firework celebration. “It took only a minute for Dubai to break the previous world record,” held by Kuwait, with 100,000 fireworks. The ensuing minutes brought the total number of fireworks to 500,000, many of which were set off in view of the Burj Khalifa.
Tags: Burj Khalifa, Celebration, Dubai, Fireworks, Kuwait, Record, Skyscraper
Bloomberg (December 31, 2013)
Gold climbed higher and higher…until it didn’t. Very few predicted the extent gold would plunge in 2013. “One year ago, analysts surveyed by Bloomberg had a median price target of $1,815 an ounce for the end of 2013. Actual year-end price: around $1,200.” The 29% decline was the biggest since 1981.
Tags: Analysts, Climb Gold, Decline, Forecast, Plunge
