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Bloomberg (January 20)

2016/ 01/ 22 by jd in Global News

“China’s slowing growth has crushed shipping rates to such an extent that hiring a 1,100-foot merchant vessel would set you back less than the price of renting a Ferrari for a day.” Since August, daily rates for Capesize ships have plummeted 92% to $1,563, while a Ferrari F40 runs $5,597. That figure excludes fuel costs of roughly $4,000. Even included, however, the total $5,563 daily cost for the vessel still remains cheaper than renting the Ferrari.

 

Los Angeles Times (January 20)

2016/ 01/ 21 by jd in Global News

“2015 was Earth’s hottest year on record, and it appears the planet is still getting hotter.” If the planet conforms with 2016 forecast from NASA and the National Oceanic and Atmospheric Administration, it will “mark the first time the average global temperature reached record-breaking heights for three consecutive years.”

 

New York Times (January 19)

2016/ 01/ 20 by jd in Global News

“China’s announcement last year that it would set up a national cap-and-trade system was hugely encouraging—the world’s largest emitter agreeing to tax itself to help solve a problem that, only a few years ago, it barely acknowledged.” This stands in stark contrast with the U.S. Congress where heads remain firmly planted in the sand of denial and falsehood. “Congress has refused to act even as it becomes clear that putting a price on greenhouse gas emissions is the most direct and cost-effective way to address climate change.”

 

Institutional Investor (January 18)

2016/ 01/ 19 by jd in Global News

The “Taiwan election results present a challenge for Beijing.” Not only is Tsai Ing-wen the first female elected president, but the election brought her party, the Democratic Progressive Party, ”its first legislative majority.” Moreover, Tsai “is a strong supporter of independence for the island, presenting a challenge for leadership in Beijing who prefer to designate Taiwan as a breakaway faction of mainland China.”

 

The Economist (January 16)

2016/ 01/ 18 by jd in Global News

“Since the new year, the price of oil has surprised even the most bearish punters, plunging by 18%.” With prices already dipping below $30 a barrel, few know how low oil will go or when prices will begin to recover. Analysts have placed the bottom as low as $10, with April deliveries calculated at “anything from $25 to $56 a barrel.” The only thing everyone agrees on is that current supply vastly outstrips demand.

 

Financial Times (January 14)

2016/ 01/ 17 by jd in Global News

“Decades of anaemic wage increases, lower job security and lacklustre consumption” have undermined a generation of Japanese who are now coming to age. Dismal economic factors have “stripped away” their incentives “to leave home, buy cars, marry, have children, take risks and generally grow up.”

 

 

Washington Post (January 14)

2016/ 01/ 16 by jd in Global News

“The China bubble has burst,” but the nation’s trajectory remains unclear. “The worst outcome—a doomsday scenario—would have China fostering worldwide deflation. Its growth would continue to deteriorate sharply, extending the decline in commodity prices and the weakness of global trade. Around the world, there would be more production cuts, layoffs and bankruptcies.”

 

New York Times (January 13)

2016/ 01/ 15 by jd in Global News

“In his final State of the Union speech, President Obama endeavored on Tuesday to lift Americans above the miasma of a brutally negative presidential campaign to reflect on what the nation has endured and achieved since he took office in the midst of a dire recession.” He often succeeded in providing “inspiring words for Americans who are yearning for more civility from those in political life.”

 

Barron’s (January 12)

2016/ 01/ 14 by jd in Global News

“President Xi Jinping’s men thought they’d escaped 2015’s woes, only to see the floor fall out from under them in the first 10 days of this year. The root causes of instability that’s panicking global markets can be traced back to Jan. 1, 2015, when Xi opted for a muddle-through policy akin to Tokyo’s in the late 1990s.” Xi and crew can still conceivably avoid Japan’s fate by “acting assertively to restructure the economy and repair the bad-debt-heavy national balance sheet. Increasingly, though, Xi’s government is acting like Tokyo’s, circa 1998.”

 

Bloomberg (January 11)

2016/ 01/ 13 by jd in Global News

“For many young people today, there’s a new rite of passage that’s bigger than learning to drive: getting your first phone number.” In 2014, only 77% of Americans aged 20 to 24, possessed a driver’s license, down from 92% in 1983. The ability of social media to bridge distance may be one factor accounting for the pronounced trend.

 

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