Eurozone bond prices losing touch with fundamentals
A vice-chairman of China’s biggest state-owned oil producer, PetroChina, is being investigated for “serious disciplinary violations”, state media say.
Malaysia’s government unveils plans to create a new airline and signs a $1.5bn (£1bn) deal with Bombardier for 20 new aircraft.
Having attacked its “closest ally” UK for “constant accomodation” with China, we suspect President Obama will be greatly displeased at yet another close-ally's decision to partner up with the Chinese-led Asian Infrastructure Investment Bank (AIIB). As The Australian reports, “make no mistake,” the decision by Australia's Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend,
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
Something I hope to encourage readers of Liberty Blitzkrieg to become aware of is
Submitted by Michael Snyder via The Economic Collapse blog,
Once upon a time, much of the state of California was a barren desert.
We’ve said on a number of occasions lately that China is currently stuck between a rock and a hard place and may have no choice but to join the global QE party (perhaps by purchasing local government debt). On a REER basis, the yuan is the second most overvalued currency in the world and as Soc Gen recently noted, that’s hurting the Chinese economy at a time when it can ill afford further headwinds. Unfortunately, devaluation could risk exacerbating capital outflows at a time when data on FX deposits for corporates suggests nervousness abounds about the near-term outlook for the yuan. We summed up the situation as follows: devalue too much, and the capital outflows will accelerate, not devalue enough, and the mercantilist economy gets it.
The head of one of this region’s most successful airlines – AirAsia – has told the BBC he is confident his company will continue to grow and remain profitable.