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Reuters (October 17)

2022/ 10/ 18 by jd in Global News

“Local governments have long been a pump-primer of China’s growth, but declining state land sales revenue in the wake of an ongoing crackdown on debt in the sector has severely eroded their financial power – a situation exacerbated this year by China’s feeble growth, weak tax income and crippling COVID restrictions.” These bodies now face budget shortfalls of roughly $1 trillion. Amid China’s wobbly economy, “the timing couldn’t be worse.”

 

Bloomberg (August 7)

2022/ 08/ 09 by jd in Global News

“Sky-high US inflation may finally be approaching a peak as global economic growth sputters and oil and other commodity prices plunge. Now the focus is shifting to how fast and far it will retreat.” The tight job market “is probably the biggest reason why inflation may prove more entrenched than the optimists expect.”

 

WARC (August 1)

2022/ 08/ 02 by jd in Global News

“Whether it’s $18 for a two-ounce ginseng drink or $75,000 for a luxury mattress, the story is the same: Chinese consumers are becoming more frugal and the days of carefree spending have gone.” For over a decade, upmarket western brands have relied on China’s “expanding middle class” to drive growth, “but now, with a slowing economy, growing unemployment and a disruptive zero-COVID policy, those same middle classes are as likely to be saving as spending.”

 

Washington Post (July 26)

2022/ 07/ 28 by jd in Global News

“The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers keep spending, businesses keep posting profits and the economy keeps adding hundreds of thousands of jobs a month.”

 

Wall Street Journal (July 13)

2022/ 07/ 14 by jd in Global News

“U.S. consumer inflation accelerated to 9.1% in June, a pace not seen in more than four decades, adding pressure on the Federal Reserve to act more aggressively to slow rapid price increases throughout the economy.” But there are also reasons to think inflation will be coming down as “investor expectations of slowing economic growth world-wide have led to a decline in commodity prices,” consumer spending is shifting, and excess inventory has retailers warning “of the need to discount goods, especially apparel and home goods.”

 

The Economist (June 11)

2022/ 06/ 13 by jd in Global News

“Britain is stuck in a 15-year rut. It likes to think of itself as a dynamic, free-market place, but its economy lags behind much of the rich world. There is plenty of speechifying about growth, and no shortage of ideas about how to turn the country round. But the mettle and strategic thinking that reform requires are absent.”

 

Morningstar (June 3)

2022/ 06/ 06 by jd in Global News

“Job and wage growth” finally appear to be “moderating, and that’s good news.” This can get hidden by monthly volatility. However, the three-month rolling average of job gains “stood at a lofty 602,000” in February. “It’s now 408,000.” The economy looks to be “shifting to a steadier, healthier pace of growth.”

 

New York Times (May 21)

2022/ 05/ 22 by jd in Global News

“The euro hasn’t fallen below the one-to-one exchange rate with the U.S. dollar for two decades. But as economic risks grow, more analysts predict deeper lows for the shared currency.” The U.S. currency is considered one of the safest havens “for money as the risk of stagflation — an unhealthy mix of stagnant economic growth and rapid inflation — stalks the globe.”

 

Financial Times (April 4)

2022/ 04/ 05 by jd in Global News

The Tokyo Stock Exchange received its “biggest overhaul in 60 years,” and left many unimpressed. “The exchange is now divided into three sections—prime, standard and growth,” but “domestic and global investors said the streamlining effort was a squandered opportunity.” Prime section market cap was set at only ¥10 billion while investors had hoped for ¥100 billion. Several hundred companies that didn’t make even that low bar were still allowed exceptional entry. “To widespread disappointment, the reshuffle has not significantly raised the bar for membership, resulting in 1,839 companies qualifying for the prime section.”

 

Boston Globe (January 31)

2022/ 02/ 01 by jd in Global News

“It’s almost as if Massachusetts has too many biotechs.” With a “surplus of startups,” reflecting “investors’ desire to pour more money into the world’s leading biotech hub,” the pipeline of qualified workers simply “can’t keep up with the burgeoning demand.” The talent shortage may “inhibit growth” and could “affect the quality of work.”

 

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