India's central bank cut key lending rates for the first time in three years on Tuesday in an aggressive effort to stimulate growth and boost investment at a time when the gloss is rapidly coming off Asia's third largest economy.
China's president, Hu Jintao, on Sunday pledged an "even more active" opening up of the country's economy and a renewed commitment to free trade as he sought to respond to concerns over apparent reform fatigue in Beijing and a deteriorating global economy.
China essentially got an "E" for effort Tuesday from the International Monetary Fund, which applauded strides made in bolstering the financial sector but issued a long list of improvements that still have to be made.
In the wake of a handful of high-profile Chinese investments in companies like Volvo and a constant barrage of headlines declaring China's economic rise, some Europeans might have the impression they are already being bought up by Beijing.
The Federal Reserve is taking a lot of heat for QE2 and other easy money policies. But anyone that wants the Fed to start tightening anytime soon should take a look at China to see how well investors react to rising rates.
U.S. stocks were poised to open slightly higher Friday, as investors digested the latest data on China's trade surplus and U.S. trade gap, and awaited an update from Washington on the Obama-GOP tax cut deal.
The Financial Times reported Sunday that "global economic co-operation is in disarray and further battles in the currency war look likely after the weekend's meetings of finance ministers and central bankers end with no resolution."
One of the most popular debates in global macro circles currently relates to China and whether its economy is in a bubble. On the side of the bubble callers is one of the more successful short sellers of our generation, James Chanos. Admittedly, Chanos is usually on the right side of these big calls and, for the time being, I'm not going to debate him. Great Chinese bubble debate aside for now, how does Chanos's theory hold up in light of the data we've been reviewing?
It feels nothing like 2007 these days, except in one respect: Chinese stocks are outperforming again. The MSCI China Index, which tracks stocks traded in Hong Kong, has climbed 67% since late October (the S&P 500 has risen 2% in that time).
The National People's Congress -- the marquee event of China's political calendar -- opened Thursday with Premier Wen Jiabao pledging economic growth amid a growing national deficit and the global financial crisis.