As the months ticked by in 2012, economic indicators released in China disappointed, fuelling speculation of a crash landing for the economy. The worst fears were not realised though as activity regained momentum in the final quarter and the downward growth trajectory came to a halt courtesy of classic reflationary recipes for boosting construction spending […]
The final version of the bailout for Cyprus spared savers with deposits of less than EUR100,000 from being forced to contribute towards rehabilitating and recapitalising the island’s ailing banks. Nevertheless, mere mention of a levy being imposed on deposits was enough to send a fresh crisis of confidence rippling through the eurozone. At the time of writing, the waves do […]
The February 2013 issue of Perspectives is now available for downloading. In his topic of the month article, Asia Strategist Laurent Godin explains that the unremitting slowdown in growth reveals how China’s economic model has been running out of steam just when the proliferation of ‘shadow banking’ in the country is heightening the vulnerability of […]
China’s rapid credit expansion is raising concerns among investors. Corporate bond issuance and trust financing are becoming key providers of credit. China’s total credit now represents 175% of GDP compared with 160% at the beginning of 2010. Bank loans, a more restrictive approach, amount to 130% of GDP. In 2010, the People’s Bank of China […]
The new Chinese leaders are likely to focus more on the quality than the pace of economic growth. They might introduce reforms which may include liberalisation of the financial sector, deregulation of the service industries as well as income distribution and social welfare reforms. In the short term, the priority will be to keep the economy […]
The National Bureau of Statistics released key economic indicators yesterday, which suggest that growth is stabilising and that economic policy is having some impact. However, we do not expect a strong pick-up in growth as we believe the new yardstick for annual GDP growth in the years ahead is likely to be around the 7.5% […]
The September 2012 issue of Perspectives is now available for reading and downloading. Here are this month’s headline news from around the world. Central banks in the developed world are thinking about further quantitative-easing measures even with official interest rates already at or close to zero. Central bankers in the emerging world have been pressing […]
Our expert in the selection of the world’s leading hedge fund managers, Jean-Pierre Selvatico, offers a review of the performance of hedge funds in the second quarter of 2012. The current economic climate, and more specifically the various potential outcomes for the eurozone and financial markets more generally, renders it difficult for one to be […]
Macro data stemming from China continue to disappoint but policy easing measures should start to have a positive impact in the coming months. The National Bureau of Statistics released key economic indicators on Friday that confirm the gradual slowdown of the economy. We believe the new yardstick for annual GDP growth in the years ahead is likely […]
The June 2012 issue of Perspectives is now available for reading and downloading. Here are this month’s headline news from around the world. Although the US economy has continued to prove fairly resilient, the latest payroll numbers did worry market operators. Overall, economic indicators are pointing towards a slowdown ahead. Click on the image below […]
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