China is unlikely to replace the U.S. as the world's dominant superpower, says George Friedman, CEO of Stratfor. He tells Kirby Daley from the Newedge Group & CNBC's Amanda Drury why. He also reveals the other key challenges we may face in the next 100 years.
View Video
Saturday 31 January 2009
There is nothing genius about Rafa's tantrums, they are just crazy
They say the only way to measure the distance between madness and genius is with success.
Friday 30 January 2009
Ox Years Coincidence
1973 Oil crisis, STI down -33%
1985 Pan Electric crisis, STI -24%
1997 Asian Financial crisis, STI -55%
2009 ?
1985 Pan Electric crisis, STI -24%
1997 Asian Financial crisis, STI -55%
2009 ?
Thursday 29 January 2009
Global Recovery Expected To Start By End 2009 - IMF
The global economy will likely slow to a “virtual standstill” this year, but a recovery should begin by the end of the year if the right policy actions are taken, the chief economist of the International Monetary Fund said Wednesday.
China’s economy likely to rebound in Q2 - Merrill Lynch
China’s economy may start to rebound in the second quarter of the year as an increase in domestic demand outpaces the fall in exports, Merrill Lynch said in a recent research report.
Manipulated? Yes, but maybe not overvalued
New US Treasury Secretary Timothy Geithner kicked up a right old stink last week when he told his Senate confirmation hearing that “President Obama... believes that China is manipulating its currency.”
The picture gets messier in Japan
The slowdown in the world’s biggest economy is starting to bite in the world’s second-biggest, with Japanese companies having to cut profit forecasts, slash costs or reduce capacity.
Baggage-laden travellers shun the airlines
It seems even super-cheap air tickets cannot lure the average Chinese person away from a love affair with train travel.
China and Russia Blame Crisis on Debt Binge
China and Russia blamed debt-fuelled consumption on Wednesday for massive financial collapse and called for global cooperation to repair the world economy.
Wednesday 28 January 2009
Job stress a leading cause of mental illness
The past year has been challenging for Singaporeans, with many witnessing job losses, pay cuts and stocks losses first-hand. The reality, reflecting a rise of anxiety and depression cases could not be truer.
Singapore Banks Face Earnings Drop, Asset Woes - MS
[Dow Jones] Singapore banks are best avoided for now as Singapore is confronting its deepest recession ever with economy expected to contract 3.5% in 2009, says Morgan Stanley. “A small open defenseless economy lacking indigenous domestic demand, the worst is to come,” warns broker. Expects Singapore bank sector earnings to decline 20% in FY09 and not recover until at least 2011, warns asset quality is key stress point, cycles generally last two years. Adds while valuations look undemanding, consensus earnings estimates still too optimistic. Reiterates Cautious view on sector, rates all 3 banks Underweight with OCBC (O39.SG) and UOB (U11.SG) least preferred as says they trade at a premium; “stay Underweight and play the relatives in what looks like an ugly range-bound year.” OCBC last +2.2% at S$5.03, UOB +4.0% at S$12.00 vs STI +3.7%. DBS (D05.SG) outperforming, +6.4% at S$8.92; trader at local house says stock looks oversold, hopes of further U.S. bailout measures offering support.
It’s the economy, girlfriend
The economic crisis came home to 27-year-old Megan Petrus early last year when her boyfriend of eight months, a derivatives trader for a major bank, proved to be more concerned about helping a laid-off colleague than comforting Petrus after her father had a heart attack.
Out on bail: Naked couple in Holland Village
Police said they have arrested a man and a woman. Both have been released on police bail pending investigations.
Both rich and poor fall victim to Ponzi schemes
But the number of other people who have been caught running Ponzi schemes in recent weeks is adding up quickly, so much so that they have earned themselves a nickname: “mini-Madoffs.”
Richer China looks to past for holiday fun
After 30 years of economic reform, China is rich enough that the hunger for modernity among the emerging middle classes is being tempered by a growing nostalgia for the past.
Roubini Sees ‘Nowhere to Hide’ From Global Slowdown
Stock market declines globally are increasingly correlated and emerging economies will follow developed nations into a “severe recession,” according to New York University Professor Nouriel Roubini.
Will you let your daughter be your nude model?
Li’s painting has raised lots of controversial voice around because he’s nude model is his daughter.
Li Qin's collection of 22 oil paintings:
Li Qin's collection of 22 oil paintings:
Financial crisis forces IT makers towards countryside
As the global financial crisis takes hold on China’s economy, eroding domestic and international demand, the government is hoping to boost consumption and help the crisis-hit IT industry by subsidizing computer purchases by rural households that have thus far been sidelined in the expansion of new technologies.
Top 3 Chinese automakers take 48.7% of domestic market
The top three Chinese automakers in terms of sales volume took 48.7 percent of the domestic market in 2008, up 1.8 percentage points year-on-year, the China Association of Automobile Manufacturers (CAAM) said in a report.
U.S. raises stakes in showdown with UBS over Swiss bank secrecy
Raising the stakes in a showdown over Swiss banking secrecy, U.S. prosecutors have given UBS “several weeks” to hand over scores of American client names or ultimately face potential indictment over its offshore banking services, a person briefed on the matter said Monday.
A Bull in the China Market - Daryl Guppy
Starting September 2008 the Shanghai Composite Index has been steadily rising, a remarkable performance in this dismal environment.
Tuesday 27 January 2009
US Treasurys Selloff Picks Up, Bursting ‘Bubble’
The Treasury bond “bubble” looks like it’s leaking air.
Giorgio Armani does China chic
Italian couturier Giorgio Armani looked east with a rich, cinematographic display Monday inspired by China.
Global warming is ‘irreversible’
A team of environmental researchers in the US has warned many effects of climate change are irreversible.
Roubini, Edwards Predict Slump in S&P 500 on China
Stocks will retreat around the world because of shrinking demand from China as growth in the third-biggest economy slows, said Nouriel Roubini, the New York University professor who predicted last year’s financial crisis.
Roubini Sees China Recession Despite ‘Massaged’ GDP
China is in a recession despite government statistics today showing the world’s third-largest economy expanded in the fourth quarter from a year earlier, according to Nouriel Roubini, the New York University professor who predicted last year’s economic crisis.
Some Asian Predictions for the Year of the Ox
2008 has been a tumultuous year in Asia marked by the deterioration of exports and a collapse in many regional asset markets as the global recession worsened and leveraged investors withdrew. Hopes that Asia would “decouple” were, as we feared at the start of 2008, overly optimistic, as Asia’s domestic demand remains strongly correlated with exports and global liquidity. Growth and industrial production are now slowing sharply in many Asian economies and we fear the outlook will worsen in the first half of 2009.
Ex-Lehman chief sold Florida mansion to his wife for $10
That’s right, 10 bucks. But in this case, the transaction is likely to raise eyebrows for reasons other than the price.
Year of the Ox Is Looking Inauspicious
“We haven’t had any suicides this time!” he said brightly. “So, you see: Not so bad as ‘98!”
Economists: Recession getting worse
Survey at private-sector companies forecasts greater job losses and worsening economic conditions in the months to come.
Monday 26 January 2009
Stressed over a test? Pet your pooch
College students who own a pet are less lonely or frazzled, survey finds
Market’s outlook? Element-ary, say feng shui masters
Geomancy consultants foresee Singapore stock market recovering in third quarter
‘As goes January, so goes the rest of the year?’
Investors might also note the latest calculations by New York University professor Nouriel Roubini, who correctly predicted the present crisis more than a year ago. In his latest RGE Monitor blog, Prof Roubini states that the banking losses from the US sub-prime crisis can hit US$1.6 trillion, of which the US financial system’s share is US$1.1 trillion, far exceeding current estimates. As a result, he concludes that US banks are ‘borderline insolvent’.
Obama’s Treasury man resorting to China bashing?
Geithner’s ‘currency manipulation’ remarks raise fears that new US administration sees Beijing as global competitor
Jim Rogers ruffles feathers in Britain
His remarks might have contributed to 4per cent slide in sterling towards the end of last week
Can Macau overcome the joker in the pack?
Casino revenue falls as travel curbs on mainlanders set in
Sexual Healing
Up to 40% of women are affected by a common female sexual disorder in which they are unable to reach orgasm when sexually excited.
Why taxi firms are not dropping surcharges
Trans-Cab general manager Jasmine Tan said: ‘Fare revisions take time, we have to observe the situation and the market.’
Chinese Jobless Hardly Rejoice
Beaten, cheated and underpaid in cities, rural migrant worker Cheng Wenlong trekked home for the Lunar New Year with no job and few plans to celebrate China’s most important holiday.
Naked Couple at Holland Village
One was a tall Caucasian man and his partner was a petite woman who looked to be Japanese, according to the forum user. They were both wearing footwear and the girl was carrying a slingbag - but they were both not wearing any clothes.
World’s first 3D sex movie
Hong Kong director will use special effects to make love scenes in his S$5.8m movie look real.
Righting a Wrong Comes From the Heart by Lee Wei Ling
It is good for any country to have an active citizenry. And that is precisely why the concept of ‘guilt by omission’ should be a part of our ethos.
As Singapore climbs the economic ladder, its need for people who would feel guilty if they omitted to do something right - not merely passively do no wrong - will increase.
As Singapore climbs the economic ladder, its need for people who would feel guilty if they omitted to do something right - not merely passively do no wrong - will increase.
Workers finding creative ways to appear busy
But now, when business is very slow indeed and the possibility of layoffs icily real, looking busy is no joke. In retail and real estate, restaurants and law offices, many American workers are working hard to look necessary, even when they don’t have all that much to do.
China dams reveal flaws in climate-change weapon
The hydroelectric dam, a low wall of concrete slicing across an old farming valley, is supposed to help a power company in distant Germany contribute to saving the climate - while putting lucrative “carbon credits” into the pockets of Chinese developers.
The Hedge Fund Mismatch
Unlike US banks, hedge funds haven’t been lining up for government bailouts in the wake of losses they can’t handle. But the funds do share one Wall Street problem: a massive mismatch between the short-term funds they take in and the long-term bets they make. Without a rethink of their business models, many in the hedge fund business risk going the way of the investment banking dodo.
SGX on right track with married deal tightening
Whenever a large block of shares is crossed in the stock market, it inevitably draws attention to the stock concerned and often stirs excitement and speculation about what might be brewing.
Some owners deserting factories in China
Equipment is moved last month at the shuttered Jianglong Group (China Printing & Dyeing) factory in Shaoxing, China. The textile dye firm was abandoned by the owner. Government officials said recently that he and his wife had been caught.
HSI Technical Analysis
Last week’s breakdown below the lower confine of a congestion zone changed the short-term neutral bias to a negative one. The HSI thereby closed below the intermediate-term uptrend line as well, raising the odds of a following significant decline. It would take a decisive recapture of the 14,200/14,300 area to negate the negative outlook and identify this recent drop as a false break and bear trap. Minor resistance is seen at 13,675 and then 14,000. Next potential downside targets and support levels are 12,439, 11,815 and 10,676.
Warren Buffet's Advice
Every new year, I adopt a couple of old maxims as my beacons to guide my future. This self-prescribed therapy has ensured that with each passing year, I grow wiser and not older. This year, I invite you to tap into the financial wisdom of our elders along with me, and become financially wiser.
Sunday 25 January 2009
Beheaded victim may have spurned suspect
The Chinese student accused of beheading a fellow Chinese student at Virginia Tech may have been snubbed romantically by his victim.
China raises rice prices to boost grain output
China’s top economic planner said Saturday it would raise the minimum state purchasing prices for rice in major rice-producing areas by as much as 16.9 percent this year.
Shopping trends affect China
As prices start to drop, consumers decide to put off major purchases, as they figure the products will be cheaper in the future, in turn causing the economy, and prices, to weaken further.
Yes, bankers were overpaid; no, it won’t last
Are financial workers overpaid? And if so, will it continue? The answers, according to a new study by two economists, are yes, they are overpaid, and no, it will not last.
Steel Sector Undergoes Reshuffle
2008 saw an industry myriad small companies began consolidating into several giants. But the outcome of the reshuffle is still unclear.
China Debates Strategic Metals Stockpiling
Efforts by provincial and central agencies to build reserves may help China’s metals sector. But some call the policy short-sighted.
Human Bird Flu on the Rise
Four cases of avian influenza have been confirmed in China since the start of 2009, already one more than the total for 2008.
New Round of Judicial Reform
The Politburo’s newest judicial reforms highlight progress and obstacles in the movement to establish an impartial legal system.
Part Three: Surplus Labour Solutions
The migrant worker paradox is closely tied to farming in China.
Part Two: Incomes Levels Tumble
China’s estimated 130 million migrant workers are the elite of the rural workforce
Part One: In Search of a Livelihood
Dongguan was a quiet fishing village in Guangdong Province before the local economy boomed. Now it’s a city and world manufacturing hub.
Not ‘completely felt yet’
We are going into a storm. It’ll be a big storm. We don’t know how long it’s going to last or how bad it’s going to be.
Subscribe to:
Posts (Atom)