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The Chinese Economy is On a Slowing Boat
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Opinions and views from expert CFOZone members.

Tag >> economy
Jun 08
2010

Strikes in China could mean lower US profits

Posted by Ron F in workersoutsourcingoffshoreMalaysiaemerging marketseconomy, earnings, demandcostscost reductioncost cuttingconsumer spendingChinaCareers/Management

Ron F

Rising labor strife in China has potentially significant implications for US companies and financial markets. The irony is that what companies want isn't necessarily the same thing that markets do.

Yves Smith over at Naked Capitalism does a good job of explaining why.

Jun 07
2010

How meaningful is manufacturing's rebound?

Posted by Karen1 in jobsemploymenteconomy

Karen1

For the tenth month in a row, economic activity in the manufacturing sector expanded, according to the May 2010 Manufacturing ISM Report on Business. In fact, 16 of 18 sectors within manufacturing reported growth, including paper and wood products, as well as electrical equipment and food, beverage and tobacco products.

Several factors fed into the increase. The new orders index was at 65.7, the same as April, but up from 61.5 in March. The employment index inched up to 59.8 in May, the sixth month to show growth. Similarly, both the order backlogs and new export orders indices showed slight increases in May.

May 28
2010

Glass half full, not half empty?

Posted by Ron F in recoveryrecessioneconomyconsumer spendingcareer/management

Ron F

Talk about accentuating the positive. This Reuters report just about takes the cake. It's also a complete jumble of contradictory data.

So rather than pick it up, I've decided to "Fisk" it, which is Webspeak for inserting snarky comments into someone else's text and comes from the name of Iraq war critic and journalist Robert Fisk, whose brilliant work generated lots of such treatment on right-wing sites back in the day. We'll see if Reuters complains about my application of the technique on its material.

May 27
2010

Another road to serfdom

Posted by Ron F in Timothy GeithnerRiskrecoveryrecessionObama Administrationjobsglobal economyfinancial crisiseurozoneEuro areaeconomyCareers/ManagementbubblesBanksbank failuresbailoutsalternative energy

Ron F

As a follow-up to yesterday's rant, I see that investors are applauding the moves of European governments to reduce their budget deficits, as if the answer to deflation is more deflation.

Hasn't anyone ever heard of Keynes and the false dawn of 1937?

May 26
2010

Global banks, global problems

Posted by Ron F in unemployment, Riskjoblessnessfinancial crisisFederal ReserveFannie Maeeuropeeconomydemanddebtclimate changeCareers/ManagementbubblesBanksBanking

Ron F

Before I get to the news (which involves the problems of European banks), let me bury the lede and offer up a bit of perspective. Yes, that's totally bass ackwards, but indulge me for a few grafs. (Hey, this is the web.)

We've recently gotten grief from friends here and there about being too negative about the economy. So we've been doing our damndest of late to ensure a "balanced" approach, seeing the glass half full as often as empty, so to speak, or walking on the sunny side of the street in addition to the shady one. You get the picture. Well, sorry, folks, but sometimes reality won't budge.

May 13
2010

Why banks are still wary of financing trade

Posted by the Benche in treasurytrade finance, trade, recoveryrecessionfinancingeconomyCashBanksBanking

the Benche

Republished from the Benche, a financial community for corporate treasurers.

The International Chamber of Commerce has released the findings of their survey titled "Rethinking Trade Finance 2010" that sheds some light on this issue.

May 10
2010

Lumbering EU giant awakes

Posted by dbedell in RiskliquidityIMFeurozoneEuropean Unioneconomybailout

dbedell

The European Union has finally stepped up to the plate with a bailout package for member states - after months and months of hemming and hawing - and it only took the potential bottoming out of the euro and fears of another global panic to light a fire. Never mind troubles in Greece since last November, never mind Ireland, or the UK, or Portugal or Spain.

The bailout package agreed by EU finance ministers early this morning will supply countries in the region with up to $560 billion in newly-minted loans and $76 billion available through a current lending program. The IMF will also front up to $321 billion – making a total of $957 billion in loans available to help shore up ailing European economies.

May 07
2010

What's the problem with the ECB?

Posted by Ron F in inflationFederal ReserveEuropean UnioneuropeEuro areaeconomydemanddefaultdebtBanking

Ron F

I really don't understand what the Times means when it says the European Central Bank lacks certain powers that the Federal Reserve has.

Yes, the ECB lacks the Fed's dual mandate: The ECB's mission is price stability alone, not that plus full employment. Nor does it have access to a government treasury. But what practical effect does any of this have? None that I can see.

May 06
2010

It's not Greek to us any more

Posted by Ron F in Timothy GeithnerGeithnerfinancial crisisEuropean UnioneuropeEuro areaeconomydemanddefaultcareer/managementbondsBanksbanking reformbailouts

Ron F

The violent backlash against the rescue plan that Europe has come up with for Greece should be a warning sign for those who think the bond market should rule public policy.

Yes, Greece must get its act together in terms of the black market and corruption, and tighten its belt on public finances. It simply has no other choice. But austerity isn't going to help the country repay its debt, not when the global economy continues to suffer from weak demand.

Apr 27
2010

More hype about a bellwether's results

Posted by Ron F in unemployment, jobsjoblessnesshealth careGeneral ElectricGEemploymenteconomycost reductionconsumer spendingconstructionChinaCareers/ManagementbubblesAccounting

Ron F

By this point, press cheerleading for the economy is hardly newsworthy, and I'm not the first to notice the latest example.

But the down-is-up spin on Caterpillar's results cannot escape mention.  As the Business Insider notes, the Bloomberg story is tame by comparison with the ravings on CNBC yesterday.

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