ASIA: China’s new household deposits grew more than a third year on year to a record USD 1.5tn in the first half of 2022, while individual bank borrowings plunged more than half over the same period, official data showed. The inversion in savings rates followed an increase in bank deposits as Chinese savers raced to […]

  ASIA: China will fare the worst if spiking inflation, slowing growth, and rising interest rates lead to stagflation, according to the results of a stress test of 20,000 companies conducted by credit rating agency, S&P Global Ratings. The company said over 90% of its sample was made up of unrated companies with debt totaling […]

ASIA: Singapore’s economy grew 4.8 percent year-on-year in the second quarter of 2022, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Thursday (Jul 14). On a quarter-on-quarter seasonally adjusted basis, Singapore’s gross domestic product (GDP) was unchanged in the second quarter after posting an expansion of 0.9 percent in […]

ASIA: China’s economic growth likely slowed sharply in the second quarter as COVID-19 lockdowns hit factories and consumer spending, a Reuters poll showed, suggesting policymakers may have to do more to spur a faster recovery. On a quarterly basis, GDP is forecast to drop 1.5% in the second quarter, versus growth of 1.3% in January-March, […]

ASIA: Japanese Ambassador to Sri Lanka Mizukoshi Hideaki on Friday said that Japan is ready to support Sri Lanka for its economic program with the International Monetary Fund (IMF) and for the development activities of the country. The President’s Media Division said that during the discussion between the Japanese Ambassador and Sri Lanka President Gotabaya […]

ASIA: China’s huge manufacturing and service industries just saw their first month of growth since February, according to surveys published Thursday, as Covid restrictions were eased in many cities. But the shadow of further lockdowns still looms over the world’s second biggest economy as Beijing sends mixed messages about the best way out of the […]

QUESTION: Marty, It seems like the Epoch Times is reporting nonsense. They just posted an article claiming that some analyst I never heard of claims that the Federal Reserve is “likely to reverse course and continue to print substantial amounts of money because doing otherwise would threaten the federal government with insolvency.” With the demand […]

ASIA: Group of Seven democracies have had positive and productive discussions with China and India about a plan to cap the price of Russian oil, a source familiar with the G7 discussions said on Tuesday, adding the two major oil consumers would have incentives to comply. The price-per-barrel cap level had not yet been determined, […]

The West has forced Russia into its first foreign debt default since 1918. You really have to wonder exactly how our world leaders rationalize their reasoning. Strangely, this was actually cyclically on target. It was two groups of 6 waves of 8.6 years, making it 104 years. It is interesting how Socrates had targeted that […]

ASIA: China’s Premier Li Keqiang said that China’s economy has recovered to some extent, but its foundation is not solid. Speaking to state media he further added that China will strive to drive the economy back onto a normal track and bring down the jobless rate as soon as possible. China’s nationwide survey-based jobless rate […]