Want more proof that the U.S. economy is still in a fragile state? Consider this. People are still holding back on buying burgers, soda and beer. So much for fast food, soft drinks and booze being recession-proof.
A Beijing-based company will soon open a Chinese-style mega shopping mall in the most unlikely of places: Milwaukee, Wisconsin.
In one of his many applause lines at Wednesday night's State of the Union address, President Obama emphasized the importance of American exports: "Tonight, we set a new goal," he said, "We will double our exports over the next five years, an increase that will support two million jobs in America." It's no surprise that people cheered; what's not to like? There's just one problem: Growing exports is almost entirely out of the president's -- and even business's -- hands.
U.S. stocks were poised for a lower open Tuesday amid concerns of a slowdown in China and ahead of the start of a two-day Federal Reserve meeting.
Stocks slumped for a third straight session Friday, on worries that the White House's bank plan and China's lending curbs will mean a broader cutback in lending.
If the global economy really does rebound this year, guess what country is likely to lead the way? Hint: it's not the United States.
It happens every weekday: A group of ladies gathers at the cavernous, badly lit stock-brokerage office on Shanghai's Xiangyang Lu in what was once, when China was colonized by European powers last century, known as the French Concession. There are usually at least four, and sometimes as many as eight.
As President Obama completes his trip to China, it's a natural time to ask if trade with the greatest source of U.S. imports is a good thing or bad thing for the still battered U.S. economy
President Obama is in China this week meeting with that nation's leaders. Since China is the largest foreign owner of U.S. debt, I wonder if they are going to give Obama a free toaster.
In a world still awash in economic worry, China has stood apart as the one country that has come through the global slump with only the briefest of hiccups.
Want more proof that the U.S. economy is still in a fragile state? Consider this. People are still holding back on buying burgers, soda and beer. So much for fast food, soft drinks and booze being recession-proof.
A Beijing-based company will soon open a Chinese-style mega shopping mall in the most unlikely of places: Milwaukee, Wisconsin.
In one of his many applause lines at Wednesday night's State of the Union address, President Obama emphasized the importance of American exports: "Tonight, we set a new goal," he said, "We will double our exports over the next five years, an increase that will support two million jobs in America." It's no surprise that people cheered; what's not to like? There's just one problem: Growing exports is almost entirely out of the president's -- and even business's -- hands.
U.S. stocks were poised for a lower open Tuesday amid concerns of a slowdown in China and ahead of the start of a two-day Federal Reserve meeting.
Stocks slumped for a third straight session Friday, on worries that the White House's bank plan and China's lending curbs will mean a broader cutback in lending.
If the global economy really does rebound this year, guess what country is likely to lead the way? Hint: it's not the United States.
It happens every weekday: A group of ladies gathers at the cavernous, badly lit stock-brokerage office on Shanghai's Xiangyang Lu in what was once, when China was colonized by European powers last century, known as the French Concession. There are usually at least four, and sometimes as many as eight.
As President Obama completes his trip to China, it's a natural time to ask if trade with the greatest source of U.S. imports is a good thing or bad thing for the still battered U.S. economy
President Obama is in China this week meeting with that nation's leaders. Since China is the largest foreign owner of U.S. debt, I wonder if they are going to give Obama a free toaster.
In a world still awash in economic worry, China has stood apart as the one country that has come through the global slump with only the briefest of hiccups.
1: China today, say many analysts, is in a comparable position to U.S. at the beginning of the 20th century... an emerging power that the dominant global power of the time is trying to downplay. Then it was Great Britain vs. the United States. Now it is the United States vs. China.
China's manufacturing sector grew last month at the fastest pace since April 2008, according to the country's official purchasing managers' index released on Sunday.
You wouldn't think the men who run the oil-rich country of Nigeria would have much spring in their step these days. The nation is plagued by a never-ending guerrilla war, one that has trimmed the country's oil production to two-thirds of its potential capacity.
Great. The global economy finally starts to show signs of emerging from the recession and now a possible trade war between the U.S. and China is throwing a monkey wrench into the recovery.
The financial crisis has wreaked havoc on many a money manager, but not Samson Capital Advisors, a firm that offers bond and currency investments to endowments and high-net worth individuals and families.
Is the Chinese economy in the same state as the American economy was in the summer of 2007? In other words, all pumped up and ready to pop?
As the U.S. stock market tosses and turns, sustainable growth -- both in corporate profits and economic output -- seems far off. In China, on the other hand, recovery already seems to be a reality: Real estate, auto, and industrial sales have all bounced back this year, driving stocks on the Shanghai exchange up 50% since February. The velocity of the Chinese rebound surprised the World Bank, which recently increased its estimate for the country's GDP growth this year from 6.5% to 7.2%. Jing Ulrich, J.P. Morgan's Chinese equities strategist, thinks that figure is still too low. "China can still achieve 8% growth," she says. "Everything is happening very fast there."
China can expect 7.2% growth in 2009, according to the World Bank, which says the country's fiscal policies in the face of a global financial slowdown have kept the Chinese economy "growing respectably."
Soon after the bloody crackdown on pro-democracy protesters in Tiananmen Square in 1989, China became a world pariah. Bill Clinton, while campaigning for the U.S. presidency, condemned the country's leadership as the "butchers of Beijing," and the European Union imposed a ban on military sales to China that remains in place today.
It's only fitting that General Motors, once the embodiment of U.S. economic might, decided to sell its Hummer brand to a Chinese manufacturer after GM filed for bankruptcy.
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).
Stocks have surged recently on hopes that the U.S. economy may be close to hitting a bottom. The S&P 500 is up an impressive 21% in the past month.
The Treasury Department is busy holding auctions of U.S. debt to raise much-needed funds for the government's numerous financial rescue packages.
China, holder of nearly $1 trillion in U.S. debt, will keep buying Treasuries, but will keep a close eye on their value just the same, a Chinese government official said.
Government debt prices fell Monday as stock prices soared after the Treasury Department unveiled its plan to partner with private investors to buy up banks' troubled assets.
The World Bank cut China's economic growth forecast in 2009 to 6.5 percent Wednesday, down a full percentage point from November's projection.
In the early evening light, on a block that once bustled but is now deathly quiet, Li Zhong-he walks to the front gate of the factory where he used to work. There he looks for his name on a sheaf of papers. They are notices from a local administrative court, granting small unemployment payments to workers like Li and the hundreds of others who were left without jobs when their company, Hejun Toy Manufacturing, ceased operation.
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.
China's National People's Congress convened Thursday in Beijing, with Premier Wen Jiabao saying China's economy eyed an 8 percent growth target and that the nation was ready to end "a state of hostility" with Taiwan.
When China's legislature opens its annual session this week, the focus will be on jobs, the economy and social stability.
Job losses triggered by the global financial crisis have driven some 20 million Chinese workers from cities back to their rural homelands, according to China's state-run Xinhua news agency.
Tens of millions of Chinese across the world celebrate the start of the Lunar New Year, one of the most important traditional holidays.
China's economic growth slumped to 9 percent for 2008, according to numbers released by the government Thursday -- in line with expectations, but still the slowest rate the nation has seen in seven years.
China has become the world's third-largest economy, surpassing Germany and closing rapidly on Japan, according to government and World Bank figures.
Oil prices rose Monday afternoon, after a stimulus package announcement by the Chinese government raised speculation about increased demand.
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