Global Market Commentary, Analysis and Investments
The following interview was first published in The Edge Singapore on May 30, 2011 by Assif Shameen.
Richard Duncan, author of the seminal The Dollar Crisis: Causes, Consequences, Cures, an international bestseller that predicted the recent global economic crisis with extraordinary accuracy, commands a lot of respect among Asian policymakers. Armed with a Master’s degree in international finance, the affable American economist is a veteran of the region.
[Read more...]This past week, an article written for The Economist, entitled Angst in the United States: What’s wrong with America’s economy?, suggested that Americans are being far too pessimistic, and that there’s reason to believe in a “rosier outlook for America’s economy.” On most of the points addressed in the article, I’d beg to differ. The following is part two of two-part explanation as to why.
[Read more...]This past week, an article written for The Economist, entitled Angst in the United States: What’s wrong with America’s economy?, suggested that Americans are being far too pessimistic, and that there’s reason to believe in a “rosier outlook for America’s economy.” On many points the article addresses, there is plenty of reason to differ. The following is part one of two-part explanation as to why.
[Read more...]Chinas report of 11.9 percent GDP growth in the first quarter of 2010 the fastest pace since late 2007 – has China watchers buzzing and looking for how (if at all) Beijing may respond.
CLSA, the influential brokerage based in Hong Kong, put out a research note today titled Fast but Not Frightening. It interprets the results as meaning that Chinas domestic economy is fully recovered, and it revised its full-year GDP growth forecast to between 9 and 10 percent (from 8 to 9 percent). It foresees no big reaction from Beijing instead just a continuation of the incremental tightening to make sure a dangerous housing bubble does not inflate and that the economy overall does not overheat.
[Read more...]Forbes has revealed its annual list of top billionaires and big gains have been made in Asia. China, for the first time ever, has the most billionaires outside the US when Hong Kong is included.
Notably, a decline in the number and wealth of US billionaires is continuing. The total number of US billionaires is down to 40 percent from 45 percent last year. Also, this year’s number one, worth $53.5 billion, is Mexican telecom and conglomerate business owner Carlos Slim. Though, as would be expected, Bill Gates and Warren Buffett follow.
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Marc Faber on the Massive Proliferation of Fraud in China
Based on his deep experience in Hong Kong, Marc Faber — investment analyst and publisher of the Gloom, Boom & Doom Report — is concerned about investing hype in China. In a recent Bloomberg interview, he indicates that fraud is widespread, and that foreigners and likely to take the brunt of the pending fallout. Three of his key thoughts are paraphrased below and the clip itself follows.
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