Early Headlines: China's Local Government Debt Problem, Japan Manufacturing Stagnation, India to Outgrow China and More
Early Bird Headlines 19 March 2015
Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
- Everyone Hates U.S. Stocks (Bloomberg)
- Bank Of England maintains vote at 9-0 to keep interest rates & QE on hold (Financial Buzz Guru)
- Euro Bears Bruised as Fed Move Spurs Biggest Gain in 15 Years (Bloomberg) Move almost 1/3 the size of the diastrous plunge when the Swiss peg was removed. That's a big move.
- A White House warning on anti-Arab rhetoric in Israeli elections (The Washington Post)
- U.S. loses drone over Syria, which claims to have brought it down (Reuters) Hat tip to Rob Carter. It was an unarmed observation drone - Syria called it an "observation plane".
- Indian economy to grow 7.7 per cent this year, says OECD (The Economic Times)
- Indian rupee rises to 2-wk high after dovish Fed statement (Investing.com)
- India's property hangover: Discounts, gold to cure multi-billion dollar backlog (Reuters)
- Managing China’s debt mountain (Business Spectator) With amount of local government debt unknown but estimates as much as ¥40 trillion ($6.5 trillion), Beijing is implementing dbet swaps into long-term national debt. But more is needed for local governments: fiscal discipline and balance sheet accounting of assets and liablities.
- Beijing "would welcome" U.S. joining China-led bank - report (Reuters) It's the Asian Infrastructure Investment Bank (AIIB)and U.S. allies are planning to join.
- Yahoo Said to Close China Office, Cut 300 Workers (Bloomberg)
- China boosts solar target for 2015 (China Spectator) Target is 17.8GW for installation in 2015, a 70% increase from 2014. By comparison, the U.S. has a total of only about 14GW installed (compared to China's 30 GW), growing at about 5GW in 2015. See US Solar Energy Capacity Grew An Astounding 418% From 2010-2014 (Clean Technica).
- Why the Yen’s Slide Isn’t Bringing Japan’s Factories, Jobs Back (Bloomberg Business) Investing in the face of an age demographics wave doesn't appeal to companies.
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