SEOUL, July 11- South Korea has no choice but to scrap caps on rice imports from the start of 2015, instead managing shipments into the country using a system of tariffs, a senior government official said on Friday.» Read More
American businesses that import Chinese goods face higher prices, but exporters are predicting sales growth. The NYT reports.
When the G-20 summit ended, attention focused on American global weakness rather than American global power, with no free trade agreement and intense criticism of recent action by the Federal Reserve,
After a thorough drubbing in the midterm elections, President Obama turned his attention to the G20 meeting in South Korea where the United States has always held sway.
In 2007, Shankar’s Emporium, a Singaporean wholesaler that has exported consumer electronics to Africa for 30 years, decided the time was ripe to set up its own shop in Angola. The project stretched over a year thanks to the slow pace of business there. But it was worth the effort, said Dinesh Bhojwani, Shankar’s business development manager.
The Federal Reserve's plan to buy more Treasury bonds has incited critics at home to complain of inevitable high inflation and financial turmoil.
When the Federal Reserve announced last week that it would buy $600 billion in Treasury bonds to help bolster the economy, it quickly came under attack from Germany, Brazil and China. But the Fed’s plans earned a hearty endorsement from at least one foreign trade partner — India. The NYT reports.
A group of senators led by Carl Levin, the Democrat from Michigan, is pushing a new financial oversight council to adopt a strict ban on proprietary trading at banks. The FT reports.
All signs point toward a long-term struggle for most states, as they continue to beat back the effects of the recession. 2011 will bring new challenges, as federal stimulus funds run dry, tax revenues decline, and jobless rates remain high.
The U.S. dollar has been gaining ground against other majors on mounting speculation the Fed's bond buying program may not be as aggressive as markets had initially priced in.
Cotton prices are rising dramatically. Analysts say several factors are involved in this historic move, and the macro picture for cotton is more complex than a simple weak dollar, strong commodity play.
Right now the US should export more and rely less on internal consumer spending. China should export less and encourage consumer spending.
The European Central Bank should worry less about the “phantom risk” of inflation and instead focus on the rising threat of deflation which could result from a currency war, economist Nouriel Roubini said in an article for Roubini Global Economics clients.
China, which has been blocking shipments of crucial minerals to Japan for the last month, has now quietly halted shipments of some of those same materials to the United States and Europe, three industry officials said on Tuesday. The NYT reports.
German companies have complained about state-owned Chinese rivals landing an increasing number of contracts in eastern Europe and central Asia by means of “price-dumping, aggressive financing and generous risk-guarantees” from Beijing.
Rising tensions amid an escalating global currency war has sparked talk of capital controls, but such a move would be dire for markets, warned Mark Mobius, executive chairman of Templeton Emerging Markets Group on CNBC Friday.
Growth in advanced economies has hit a road bump and using quantitative easing (QE) measures will not help them to speed up growth, said Olivier Blanchard, chief economist of the International Monetary Fund.
The World Trade Organization has ruled that a U.S. ban on Chinese poultry is illegal, giving Beijing a win in the first international commerce ruling against the administration of President Barack Obama.
The elections will leave the Republican Party in disarray on key economic issues. Congressional Democrats won’t be able to identify potential compromises until they know what Republicans want. This will create an opening for President Obama to frame his vision for international economic policy.
The poultry tariffs are another example of China’s willingness to use its economic leverage when it feels it is being challenged. The NYT reports.
High unemployment may last for a long time because of the sluggish economy, bad politics and advances in technology, Jack Welch, author of "Straight from the Gut," told CNBC Thursday.