Econintersect: The major news rattling around cyberspace today concerns the possibility of equity collapse. According to a Forbes post:
China stocks may be heading for more lows amid continuing international worries about the impact of Europe’s debt crisis on global growth. Given the wave of recent government efforts to support the stock market, the Securities Times in a surprisingly stark front-page article today said state-owned companies need to prepare for three- to- five years of “winter.” Citing Shao Ning, a top regulator at the State-owned Assets Supervision and Administration Commission, the paper said China’s economy has entered an era of contraction, and cost management will be an increasing factor in success.
Econintersect recommends the following reading for today:
China and Chile agreed Tuesday to upgrade their bilateral ties to a strategic partnership, and double trade in three years.
Corporate FXAre the BRIC Nations Cracking?BusinessweekBy Roben Farzad on June 26, 2012 Brazil, Russia, India, China. Group these developing nations together, as Goldman Sachs’s (GS) Jim O’Neill so presciently did in 2001, and you have the BRICs—perhaps the past decade’s most famous macro investing call…
China’s government has responded to a deep economic slowdown with a slew of policy initiatives in recent months that together underline a strategy to spur a recovery, while allowing market forces to play a bigger role in reforming an economy still dominated by the state.
Chinese banks such as the ICBC are muscling into Australia’s syndicated loan market, seeking to replace Europe’s debt-laden lenders as they retrench in the Pacific nation.
China offers to set up a $10bn (£6.4bn) credit line for Latin America countries to support infrastructure projects in the region.Continue Reading On bbc.co.uk »
source: for headline Forbes