BEIJING | The world was confident about China. She was expected to be the engine of growth of the world economy. The remedy against the bitterness that surrounds Western markets. The fear of a hard landing is part of the subconscious of many experts but there is still confidence that the second world’s economy will manage to land softly. Opinions are divided: Pessimists predict a greater slowdown within the following months….
Famous for his provocative views on international economics and China’s rise, Andy Xie is an independent economist who predicted the Asian bubble in 1997. Based in Shanghai, he is a former Morgan Stanley star chief Asia-Pacific analyst. We interviewed him for our summer interviews on China’s challenges, the eurodrama and his forecast for the future. For Mr. Xie, Wall Street bankers are viewed in China as “a bunch of corrupt…
By CaixaBank research team, in Barcelona | The US economy is leaving behind its vigorous start to the year and is on way to a weaker scenario than the consensus had expected at the end of April, after the publication of the gross domestic product (GDP) flash estimate for the first quarter. The main reason for this weaker tone lies in the loss of dynamism in the labour market’s recovery….
By CaixaBank research team, in Barcelona | The upswing exceeded expectations with a first quarter GDP that grew by 1.0% quarter-on-quarter and 2.6% year-on-year. This momentarily places Japan at the head of advanced economies in terms of growth. However, the forecast for the whole of 2012 hardly reaches 2.5%, as the composition of the national accounts raises doubts regarding the sustainability of the upswing. Unusually, the growth of the first…
By CaixaBank research team, in Barcelona | Of the events occurring recently on the world economic scene, three have significantly affected the current fate of Brazil's economy. On the one hand, the confirmation of China's economic slowdown in the first quarter; on the other, the progress made in correcting commodities markets and, lastly, more intense tensions in the euro area's debt markets are causing a marked upswing in global aversion…
By Luis Arroyo, in Madrid | Poland is one of those countries whose contrast surely must give food for thought to the believers in the inflexible laws of the European common currency. Outside the sacred euro area, its economy grows, its real GDP!, while its unemployment rate evolution is flat at slightly under 2007 levels. But the euro authorities keep stuck in t eukanuba dog food reviews heir proud, honourable…
By www.valenciaplaza.com | The Spanish industry of capital goods (machinery and equipment that integrates the production process) increased by 1% its turnover in 2011 to €39 billion. The sector has some 2,000 companies, the vast majority of which are small and medium-sized firms. According to the National Association of Manufacturers of Capital Goods (Sercobe) last year, SMEs increased their revenues in €404 million to €26.13 billion, with a growth rate of 1.5% compared to…
MADRID | The turnover of audit firms in Spain increased by 2.2% in 2011 to over 2.8 billion, thus extending the trend of steady moderate growth in the previous two years. Tax and legal advice, and corporate finance experienced a more dynamic activity level, while the audit and consulting areas grew by 1%. A study of the sector published by DBK showed that audit firms managed to increase its sales in 2011,…
LONDON | Is there in these recent Brazil’s data a lesson for those in the Old Continent whose only talk is internal devaluation via salary cuts to regain competitiveness, while keeping the common currency too high for irrational fear of the inflation ghost? March brought a negative surprise with consumer credit non-performance rates in Brazil, which ticked up to 7.6% after having fallen to 7.4% in February. But that shouldn’t be…
NEW YORK | There was a final statement, yet not a consensus about how to tackle the euro zone turmoil. Everyone in Camp David hoped that Greece will remain in the euro. For the first time, the argument that Europe cannot face more spending cuts gained widespread support. G8’s final communiqué showed a big push to German Chancellor Angela Merkel: it is urgent to bring deficits down through austerity measures…