Mid Term

Relative good news economic growth stories, according to this morning’s OECD report, include the United States, China, Mexico, Brazil, and Indonesia

Relative good news economic growth stories, according to this morning’s OECD report, include the United States, China, Mexico, Brazil, and Indonesia

According to this morning’s economic outlook from the OECD, for the developed economies as a whole, growth will fall to 1.6% in 2011 (from a not so impressive 1.8% in 2011) and then “recover” to a 2.2% growth rate in 2013. The world’s developing economies will, once again, do much better.

The global financial casino is moving on–to China

The global financial casino is moving on–to China

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When is a bad loan not a bad loan? When China’s government says it isn’t

China has told its big government controlled banks to roll over loans to local governments. That means local governments that borrowed from the banks to pay for the 2008 stimulus plan ordered by Beijing and to finance everything from factories to roads to apartment complexes to shopping malls to the tune of 10.7 trillion yuan ($1.7 trillion) won’t have to pay back those loans as they mature.