Antonio Fatas submits:The global imbalances that we have witnessed over the last years have led to significant changes in the net investment position of some countries. Those with persistent current account deficits (e.g. the US) have seen their net investment position deteriorate, while those with persistent current account surpluses have seen their net investment position improve (such as China).
While the market, and America's media, was focusing over the passage of the Cromnibus, and whether Wall Street would dump a few hundred trillion in derivatives on the laps of US taxpayers once again (it did), quietly and unanimously both houses passed The Ukraine Freedom Support Act of 2014, which authorizes "providing lethal assistance to Ukraine’s military" as well as sweeping
SHANGHAI/BEIJING (Reuters) - China signaled on Wednesday it wanted to ramp up private investment in its energy sector, in line with recently unveiled government plans to fast-track infrastructure investment to help combat the nation's slowing economy. Beijing is drafting detailed guidelines to encourage private investment across industries, with special focus on the heavily state-controlled electricity, oil and natural gas sectors, according to an article by the official Xinhua news agency. ...
Yves here. A tongue-in-cheek article in the Financial Times, Putin putting Europe in its place, written from Putin’s viewpoint, concluded:
“As to your plans for emergency economic aid for Ukraine, this is an excellent plan. They could use the money and I’d rather not shell out myself. Incidentally, to save time why not make the cheques payable to Gazprom?”
BEIJING — China’s ruling party pledged to let markets play a “decisive” role in allocating resources as it unveiled a reform agenda for the next decade on Tuesday, looking to overhaul the world’s second-largest economy to drive future growth.
Canadian Pacific Railway Ltd. reported a dramatic drop in its fourth quarter earnings Tuesday with several one-time charges related to its ongoing restructuring dragging it down.
But the country’s second-largest railway said it expects those efforts to improve its operations to take hold in 2013.