Early Headlines: Varoufakis Feigned Madness?, Greece Enacts Austerity Squared, Few are Independent Contractors,China's Private Debt Growth and More

July 16th, 2015
in News, econ_news, syndication

Early Bird Headlines 16 July 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.


Follow up:


  • What New Horizons reveals about Pluto (CNN) Perhaps contradicting the decision to demote Pluto from the status of planet because of its small size, the remarkable pictures sent back this week by the New Horizons fly-by mission show a body with many planetary features such as large mountain ranges and other surface variations. But Pluto is not unique; it exists in a spatial region with thousands of similarly sized dwarf planets (and countless smaller objects) in what is known as the Kuiper Belt orbiting our sun.





  • Leadership in China Confronts Tougher Tasks Than in Boom (Bloomberg) In recent years, though, it sometimes seems the country's admired economic technocrats have been replaced by a jazz improvisation group, composing policy on the fly. On Wednesday, China's latest growth rate came in at 7 percent, better than forecast, but there's no denying it has decelerated markedly from the double-digit average seen from 1980 to 2012. And it remains below the increase in debt. That is not a sustainable growth path. See next article.
  • China's Debt-to-GDP Ratio Just Climbed to a Record High (Bloomberg) As economists who Econintersect has found credible have pointed out, for countries which produce their own sovereign currencies, the most dangerous debt is excessive debt in the private sector. And when private debt grows much more rapidly than does GDP, red flags should be waving. China has seen private debt grow more than 50% faster than has the country's exceptional GDP. For U.S. data as of 2012, see U.S. debt-to-GDP hits a 6-year low (Business Jad)

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