Showing posts with label China. Show all posts
Showing posts with label China. Show all posts
Sunday, December 13, 2015
Fosun's Billionaire Chairman Reported Missing (video)
Fosun's Billionaire Chairman Reported Missing - Fosun International Chairman Guo Guangchang has gone missing according to published reports in China's Caixin magazine. Bloomberg's Nick Wadhams has the story on "On the Move." Published on Dec 11, 2015
It's not easy being a billionaire in China!
See also:
China's 'Warren Buffett' said to be 'assisting authorities'
Financial Times
Fosun International, China's largest private conglomerate, said its chairman, Guo ... Chinese billionaire captured global attention by buying some of the west's ... The report about Mr Guo were only the latest involving senior ... A friend of the Guo family said family members had lost touch with him.
Chinese Billionaire Said to Be Assisting Authorities in an Investigation - Wall Street Journal
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Sunday, July 19, 2015
Will China Drag Down the Global Economy? (video)
Will China Drag Down the Global Economy? - Credit Suisse Chief Economist James Sweeney discusses the markets and the economy. He speaks on “Market Makers.” Published on Jul 14, 2015
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Tuesday, July 7, 2015
Mohamed El-Erian Says Keep A Close Eye on Chinese Stocks
Mohamed A. El-Erian | Facebook: "Lots of people will (and should) be keeping a close eye on Chinese stocks this week, starting with the government. In partnership with brokerage firms, the authorities opted for a big bang package over the weekend to stabilize what had been a volatile and rapidly correcting market (chart below from cnbc.com). This intervention reflects concerns about the risk of an adverse economic and social fallout. It did not take long for markets on Monday to test the robustness of the measures. The same is happening at the start of Tuesday’s session. Failure to contain volatility could lead to another leg down in stocks."
#China #Bubble
CSI 500 Index
SHCOMP INDEX - SHCOMP:IND (source: Bloomberg)
The Shanghai Stock Exchange Composite Index is a capitalization-weighted index. The index tracks the daily price performance of all A-shares and B-shares listed on the Shanghai Stock Exchange. The index was developed on December 19, 1990 with a base value of 100. Index trade volume on Q is scaled down by a factor of 1000.
For comparison: S&P500 Index (US)
#shcomp Tweets
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#China #Bubble
CSI 500 Index
SHCOMP INDEX - SHCOMP:IND (source: Bloomberg)
The Shanghai Stock Exchange Composite Index is a capitalization-weighted index. The index tracks the daily price performance of all A-shares and B-shares listed on the Shanghai Stock Exchange. The index was developed on December 19, 1990 with a base value of 100. Index trade volume on Q is scaled down by a factor of 1000.
For comparison: S&P500 Index (US)
#shcomp Tweets
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Sunday, July 5, 2015
IPOs Halted on China's Stock Markets, Too Little, Too Late?
On Saturday evening, China’s two stock exchanges — in Shanghai and in the far southern city, Shenzhen — issued notices suspending initial public offerings until further notice even for companies that already had provisional approval to list their shares. (source infra)
As Chinese stocks soared in the 12 months until their peak on June 12, the small- and medium-size companies with weak financial fundamentals fared the best. Many of them quadrupled, or rose even more, in value, while the overall index doubled because large-cap stocks lagged far behind. The small-cap and medium-cap stocks overwhelmingly tended to draw middle-class and working-class investors who were buying whatever stocks were rising fastest. The Shanghai market rose 149 percent in the year until June 12. By comparison, a stock price index of 100 large mainland Chinese companies that are traded in Hong Kong — and many of them in Shanghai, too — rose 24 percent over the same period. (source infra)China's government-controlled Securities Association of China said that 21 big brokerage firms had agreed to set up a fund worth at least 120 billion renminbi, or $19.4 billion, to buy shares in the largest, most stable companies, and to stop selling shares from their own portfolios. But some experts said the moves might not be enough to stop the hemorrhaging of money from the stock market, particularly given that $105 billion in shares changed hands in Shanghai on Friday.--China Moves to Stabilize Stock Markets; Initial Offerings Halted - The New York Times
The world is addicted to fiscal stimulus and central bankers' fiat money, and as a result has too much debt--The Smartest Man is Wild about Innovation: "The whole world is suffering from too much debt. As a result, growth almost everywhere is going to be slow. I know you believe the problem is insufficient demand, but the major industrialized countries already have considerable debt and do not want to add any more to it to stimulate the consumer."
Financial Crisis Events to watch this week:
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Tuesday, April 14, 2015
China, Economy, Scary Numbers (video)
China's Economy: The Numbers Look Scary -
Bloomberg Intelligence’s Ken Hoffman reports on China’s slowing economy. He speaks on “In The Loop,” April 10th.
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Bloomberg Intelligence’s Ken Hoffman reports on China’s slowing economy. He speaks on “In The Loop,” April 10th.
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Sunday, March 22, 2015
China, Reality Check, Has the Hard Landing Already Started? (video)
China Reality Check: Has the Hard Landing in China Already Started? -
Published on Feb 20, 2015: China’s economic growth rate fell to 7.4% in 2014, and many believe the official figure is actually more generous than the reality. Most forecasts expect growth to come in well under 7.0% in 2015. What are we to make of these trends? Are we at the beginning of a hard landing where the long history of structural inefficiencies are finally and inescapably being revealed and the possibilities of a financial crisis more ever looming? Or are we in a gradual shift toward a “new normal” of healthier and still relatively robust growth as a result of foresighted policy adjustments? Or is something else going on altogether? Anne Stevenson-Yang, co-founder of J Capital Research, is a veteran analyst of the China’s economy and economic policy process. She travels widely in China in order to compare official data with actual behavior and performance. Bob Davis of the Wall Street Journal is a leading expert on macroeconomic policy and recently completed an extended posting in Beijing, where he wrote regularly about China’s economy.
Featuring:
Anne Stevenson-Yang
Co-founder and Research Director, J Capital Research
with Commentary from:
Bob Davis
Washington Correspondent, Wall Street Journal
and
Scott Kennedy
Deputy Director, Freeman Chair in China Studies, and Director, Project on Chinese Business and Political Economy, CSIS
Moderated by:
Christopher K. Johnson
Freeman Chair in China Studies, CSIS
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Published on Feb 20, 2015: China’s economic growth rate fell to 7.4% in 2014, and many believe the official figure is actually more generous than the reality. Most forecasts expect growth to come in well under 7.0% in 2015. What are we to make of these trends? Are we at the beginning of a hard landing where the long history of structural inefficiencies are finally and inescapably being revealed and the possibilities of a financial crisis more ever looming? Or are we in a gradual shift toward a “new normal” of healthier and still relatively robust growth as a result of foresighted policy adjustments? Or is something else going on altogether? Anne Stevenson-Yang, co-founder of J Capital Research, is a veteran analyst of the China’s economy and economic policy process. She travels widely in China in order to compare official data with actual behavior and performance. Bob Davis of the Wall Street Journal is a leading expert on macroeconomic policy and recently completed an extended posting in Beijing, where he wrote regularly about China’s economy.
Featuring:
Anne Stevenson-Yang
Co-founder and Research Director, J Capital Research
with Commentary from:
Bob Davis
Washington Correspondent, Wall Street Journal
and
Scott Kennedy
Deputy Director, Freeman Chair in China Studies, and Director, Project on Chinese Business and Political Economy, CSIS
Moderated by:
Christopher K. Johnson
Freeman Chair in China Studies, CSIS
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Tuesday, February 17, 2015
America, China, Economic Parity
The Real Story of How America Became an Economic Superpower - The Atlantic: "... Tooze’s story ends where our modern era starts: with the advent of a new European order—liberal, democratic, and under American protection. Yet nothing lasts forever. The foundation of this order was America’s rise to unique economic predominance a century ago. That predominance is now coming to an end as China does what the Soviet Union and Imperial Germany never could: rise toward economic parity with the United States. That parity has not, in fact, yet arrived, and the most realistic measures suggest that the moment of parity won’t arrive until the later 2020s. Perhaps some unforeseen disruption in the Chinese economy—or some unexpected acceleration of American prosperity—will postpone the moment even further. But it is coming, and when it does, the fundamental basis of world-power politics over the past 100 years will have been removed. Just how big and dangerous a change that will be is the deepest theme of Adam Tooze's profound and brilliant grand narrative." (read more at the link above)
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Saturday, November 1, 2014
China's Fall Off A Cliff--The Question is No Longer If, But When
China Falling Off A Cliff? Yes--
Is the Chinese Economy About to Fall Off a Cliff?: "... If China were a fully capitalist economy, the outcome would be eminently predictable: a 2008-style “Minsky moment” in which something bad happens, creditors panic, new lending dries up, and a crash ensues. China would join the United States, the United Kingdom, South Korea, Argentina, Mexico, and a long list of other countries that have experienced credit binges that ended badly. The complicating factor is that China, despite all its reforms, is still a country where the government controls large segments of the economy, including much of the financial sector. If there’s a crisis, optimists say, the government will step in and rescue lenders, writing off many of their bad loans. And the fact that people are aware of this will help prevent a crisis in the first place... "Even if a huge swathe of loans go bad, the consequence is unlikely to be a Lehman-style financial collapse,” the editors of The Economist argue in this week’s issue. “For that, thank the Chinese regime’s vice-like grip on its financial system.” The Conference Board analysts aren’t reassured. They argue that, as the rate of economic growth falls and bad debts pile up, there may well be too many stricken lenders for the state to rescue. And, even if the government does step in, the economic consequences will be severe. “While it is difficult to determine with precision when the breakpoint will be reached … a major deleveraging must occur at some point—it cannot be forestalled forever,” the report says. “Nor can China grow out of the problem. Anticipated nominal GDP growth comes nowhere close to being able to service the debt that has been accumulated since 2009. Something’s got to give....” (read more at the links above)
When? No one knows.
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Is the Chinese Economy About to Fall Off a Cliff?: "... If China were a fully capitalist economy, the outcome would be eminently predictable: a 2008-style “Minsky moment” in which something bad happens, creditors panic, new lending dries up, and a crash ensues. China would join the United States, the United Kingdom, South Korea, Argentina, Mexico, and a long list of other countries that have experienced credit binges that ended badly. The complicating factor is that China, despite all its reforms, is still a country where the government controls large segments of the economy, including much of the financial sector. If there’s a crisis, optimists say, the government will step in and rescue lenders, writing off many of their bad loans. And the fact that people are aware of this will help prevent a crisis in the first place... "Even if a huge swathe of loans go bad, the consequence is unlikely to be a Lehman-style financial collapse,” the editors of The Economist argue in this week’s issue. “For that, thank the Chinese regime’s vice-like grip on its financial system.” The Conference Board analysts aren’t reassured. They argue that, as the rate of economic growth falls and bad debts pile up, there may well be too many stricken lenders for the state to rescue. And, even if the government does step in, the economic consequences will be severe. “While it is difficult to determine with precision when the breakpoint will be reached … a major deleveraging must occur at some point—it cannot be forestalled forever,” the report says. “Nor can China grow out of the problem. Anticipated nominal GDP growth comes nowhere close to being able to service the debt that has been accumulated since 2009. Something’s got to give....” (read more at the links above)
When? No one knows.
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Friday, October 17, 2014
Paul Krugman says Europe and China are "Seriously Scary" (video)
Paul Krugman: Europe and China are Seriously Scary -
On “Charlie Rose,” a conversation with Paul Krugman. He is a Nobel laureate in economics, a New York Times columnist and a professor at Princeton University. (Source: Bloomberg--Oct 16)
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On “Charlie Rose,” a conversation with Paul Krugman. He is a Nobel laureate in economics, a New York Times columnist and a professor at Princeton University. (Source: Bloomberg--Oct 16)
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Tuesday, September 2, 2014
64% of the World's Extremely Poor Live in Just 5 Countries
Chart: 64% of the World's Extremely Poor Live in Just 5 Countries | Statista:
64% of the World's Extremely Poor Live in Just 5 Countries - India, China, Nigeria, Bangladesh, Congo
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64% of the World's Extremely Poor Live in Just 5 Countries - India, China, Nigeria, Bangladesh, Congo
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Friday, August 22, 2014
China Hasn’t Really Averted a Crash - Jim Walker, Asianomics (video)
China Hasn’t Really Averted a Crash: Walker: Video - Bloomberg:
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Asianomics Founder and Managing Director Jim Walker discusses Chinese Markets and economy , Japan’s economy and where he’s putting his money with David Ingles, Zeb Eckert, Angie Lau and Rishaad Salamat on “Asia Edge.” (Source: Bloomberg-Aug 11)
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Asianomics Founder and Managing Director Jim Walker discusses Chinese Markets and economy , Japan’s economy and where he’s putting his money with David Ingles, Zeb Eckert, Angie Lau and Rishaad Salamat on “Asia Edge.” (Source: Bloomberg-Aug 11)
Wednesday, June 4, 2014
US Companies, China Spying Impact (video)
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Will Alleged China Spying Impact U.S. Companies?: Video - Bloomberg: "GGV Capital Managing Partner Jeff Richards and Sanford Bernstein Senior Analyst Mark Moerdler discuss the impact of alleged Chinese spying on U.S. companies and relations on Bloomberg Television’s “Market Makers.” (Source: Bloomberg May 28)
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Sunday, May 18, 2014
China, Weak Growth Momentum (video)
China Faces `Relatively Weak' Growth Momentum: Yao: Video - Bloomberg:
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Yao Wei, China economist at Societe Generale SA in Hong Kong, talks about the world's second-largest economy. China's manufacturing contracted in April, according to a private survey, signaling the risk of a deeper slowdown in an economy already projected to expand this year at the slowest pace since 1990. Yao speaks with on Bloomberg Television's "On the Move." (Source: Bloomberg, May 5)
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Yao Wei, China economist at Societe Generale SA in Hong Kong, talks about the world's second-largest economy. China's manufacturing contracted in April, according to a private survey, signaling the risk of a deeper slowdown in an economy already projected to expand this year at the slowest pace since 1990. Yao speaks with on Bloomberg Television's "On the Move." (Source: Bloomberg, May 5)
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Saturday, May 17, 2014
Steve Wynn says US Government Less Business-Friendly Than China (video)
(Allow video to load after clicking play)Wynn: U.S. Less Friendly to Business Than China: Video - Bloomberg: "Wynn Resorts Ltd. Chief Executive Officer Steve Wynn talks about business relations with the U.S. government. He speaks with Bloomberg Television's Stephanie Ruhle. (Source: Bloomberg, May 2)"
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Saturday, March 15, 2014
Blankfein says China Is the 21st Century Story (video)
Blankfein: China Is the 21st Century Story: Video - Bloomberg: "Goldman Sachs CEO Lloyd Blankfein comments on the importance of China's growth to the global economy. He speaks with John Dawson on Bloomberg Television's "On The Move Asia."" (Feb 11, 2014 via Bloomberg TV)
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Saturday, December 21, 2013
China, US, both waste resources, just differently
China may be throwing money away on "ghost cities" but the US government is throwing away money on useless things too -- like a bloated, unneeded military infrastructure --
Mish's Global Economic Trend Analysis: Does the US Have Enough Military Bases?: "...Questions: Given that any satellite can pick up this information, is there any rational reason to have "secret bases"? Is any base really a secret? Would US security be hampered if 25% of the bases were shut down? 50%? 80%? The answers are 1-no, 2-no, 3-no, no, no...." (read more at link above)
Coming -- a rebalancing of military spending (meaning cuts, big cuts) once Washington gets serious about reallocating limited resources, instead of just tax, spend, waste, and ask for more.
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Mish's Global Economic Trend Analysis: Does the US Have Enough Military Bases?: "...Questions: Given that any satellite can pick up this information, is there any rational reason to have "secret bases"? Is any base really a secret? Would US security be hampered if 25% of the bases were shut down? 50%? 80%? The answers are 1-no, 2-no, 3-no, no, no...." (read more at link above)
Coming -- a rebalancing of military spending (meaning cuts, big cuts) once Washington gets serious about reallocating limited resources, instead of just tax, spend, waste, and ask for more.
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Thursday, November 21, 2013
The Trial of Bo Xilai (video)
The Trial of Bo Xilai - Video - NYTimes.com: "The Trial of Bo Xilai, October 25th, 2013 - An appeals court upheld a verdict of life in prison for Bo Xilai, a Chinese official who was once among China’s highest-ranking Communist Party leaders."
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Friday, September 13, 2013
Reasons you don't want to live in China
10 reasons you don't want to live in China- MSN Money: - here's an excerpt -
Pollution - "From the pervasive pollution to the rampant corruption, quality of life in the world's second-largest economy leaves much to be desired." Rampant Corruption - To be sure, China isn't the only country rife with corruption. The U.S. certainly has seen its fair share of unethical behavior on the part of its leaders and the lobbyists who have their ears. But corruption is endemic throughout China, and it's now in the spotlight under the presidential crusade. Heavy government interference and control - One Chinese legal activist told PBS NewsHour that while he hopes the country's people can fight back and bring change, the Chinese Communist Party "still wants to control everything."
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Pollution - "From the pervasive pollution to the rampant corruption, quality of life in the world's second-largest economy leaves much to be desired." Rampant Corruption - To be sure, China isn't the only country rife with corruption. The U.S. certainly has seen its fair share of unethical behavior on the part of its leaders and the lobbyists who have their ears. But corruption is endemic throughout China, and it's now in the spotlight under the presidential crusade. Heavy government interference and control - One Chinese legal activist told PBS NewsHour that while he hopes the country's people can fight back and bring change, the Chinese Communist Party "still wants to control everything."
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Monday, March 25, 2013
Missing Chinese Tycoon
How about this for a "progressive" nation--
" . . . The newspaper Shanghai Securities News said Liu was detained by Beijing police in mid-March while on a business trip to the Chinese capital but gave no indication why he might have been picked up. Chinese police regularly detain people for lengthy questioning without charge or public notice. Liu's main company, Sichuan Hanlong Group, owns a 13 percent stake in General Moly, a Colorado miner of molybdenum, a mineral used to harden steel. Hanlong was arranging financing for a General Moly mine in Nevada. A Hanlong spokesman who would give only his surname, Su, said, "I am unclear about this," when asked whether Liu was detained and where he was. . . . Liu's Hanlong is part of a wave of Chinese energy and mining companies that are buying assets abroad in Australia, Africa and elsewhere in hopes of profiting from growing global demand. The biggest acquisitions have been made by state-owned companies, but the role of smaller, private companies is growing. Liu and his ex-wife were detained in Beijing before they returned to his home province of Sichuan, the Shanghai Securities News said, citing unidentified sources. It said other relatives were detained in Sichuan. Beijing police did not respond Thursday to questions by phone and fax about whether Liu was detained. A search for Liu's name on China's most popular microblog service, Sina Weibo, returned the notice, "according to relevant laws and regulations, the results for 'Liu Han' are not displayed" - a possible sign authorities were trying to suppress discussion of his disappearance. Liu was No. 148 last year on Forbes magazine's list of the richest Chinese businesspeople, with a fortune estimated at $855 million. . . ." Read more here: http://www.miamiherald.com/2013/03/21/3297894/chinese-company-looking-for-missing.html#emlnl=Business#storylink=cpy
Lesson: don't compete with state-owned enterprises in China
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Lesson: don't compete with state-owned enterprises in China
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Friday, July 6, 2012
Apple Gets Sued Again in China
Now that Apple has indicated it is willing to pay millions to settle meritless claims in China--watch out--the flood of lawsuits is just beginning--
“China’s Siri” Sues Apple’s Siri Over Infringement! (video) » M.I.C. Gadget: "What a busy moment for the Apple’s legal team in China! Apple now has two infringement lawsuits to deal with, the Mac OS X “Snow Leopard” trademark that we reported just days ago and now comes to Apple’s voice assistant application Siri. . . . "
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“China’s Siri” Sues Apple’s Siri Over Infringement! (video) » M.I.C. Gadget: "What a busy moment for the Apple’s legal team in China! Apple now has two infringement lawsuits to deal with, the Mac OS X “Snow Leopard” trademark that we reported just days ago and now comes to Apple’s voice assistant application Siri. . . . "
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