World Economics Thread

[pla101prc]

lol it was pretty funny yesterday when geithner spoke at Beijing university, when he said "Chinese assets in the US are very safe" everyone laughed.
the job report came out also, the US lost another 300000 something jobs. looks like they still havent hit the bottom of the L yet.

 

[Schumacher]

.......

Its great to see Poland emerge from former communism, to becoming a major player in the European free market economy.

Hmm .... a 'free market economy' getting a bailout of a shipyard in danger of bankruptcy ? Is this the so-call 'free market with Polish characteristics' ? LOL

 

[Propagandalass]

Don't underestimate the Poles, they've been beaten down who knows how many times throughout history just like China and Taiwan and they always got back up. Just from Historical point of view.

 

[pla101prc]

according to most economists, if there is one thing that will bring the old europe down its eatern europe...of course you cant always trust most economists so we'll see.

 

[Propagandalass]

The West is doing much better, but has been stagnant even before the crisis, especially Germany's unemployed rates. Mainly Germany and England have to bail it, they're bearing the burden for Turkey, Greece, Czech, Poland etc. The EU has also overdone outsourcing to China a bit, but who knows, if China can stand through it might prove to be a lucky move?

 

[pla101prc]

Germany's fundamentals are good though, its britain that is completely screwed with no doubt in my mind. france is sorta in between. Germany still has a good manufacturing and their financial and banking system arent as heavily leveraged...actually some of the toys they are playing with are pretty primitive...its the export that's been hit hard,kinda like Japan.

 

[Schumacher]

Don't underestimate the Poles, they've been beaten down who knows how many times throughout history just like China and Taiwan and they always got back up. Just from Historical point of view.

Never meant to underestimate the Poles at all. Just to point out how some just put a tag of 'free market economy' on some country while at the same time talk of bailouts.
Terms like 'free market', 'democracy' are too often used as empty slogans.

 

[kliu0]

Deleted

 

[Propagandalass]

From Bankland. Uh I mean Switzerland *steals bank secr-retrieves economic news from local sources*

Immerhin verlangsamt sich die Geschwindigkeit, mit der die Stellen gestrichen werden. Die Zahl der Stellenstreichungen geht laut Daten des Arbeitsministeriums auf 345 000 zurück, die niedrigste Zahl seit September 2008. Der Stellenabbau schwächte sich damit den vierten Monat in Folge ab.

Im April hatte die Arbeitslosenrate bei 8,9 Prozent gelegen und stieg jetzt auf alarmierende 9,4 Prozent. Der Anstieg unterstreicht laut Experten die Schwierigkeit der 14,5 Millionen Arbeitslosen, eine neue Stelle zu finden. Seit Beginn der Rezession im Dezember 2007 gingen in den USA insgesamt sechs Millionen Jobs verloren.

Der höchste Stand der Arbeitslosenrate nach dem Zweiten Weltkrieg wurde Ende 1982 mit 10,8 Prozent verzeichnet.

Translation/Nutshell (I did mention I was abroad alot no? XD):

US unemplyed rates skyrocketing to record heights. Though it has slowed down, unemployed rates reached 8.9% in April and are now at alarming 9.4% (14.5 Million people)! 6 Million jobs were lost since begin of recession.

The highest unemployed rate ever since end of WW II was 10.8% in 1982.

Der australische Bergbaukonzern Rio Tonto ist aus einem Milliarden-Übernahmedeal mit dem chinesischen Aluminiumkonzern Chinalco ausgestiegen. Der Vertrag sei gekündigt, teilte Rio Tinto in einer Erklärung mit.

Der hoch verschuldete Konzern hatte sich im Februar an Chinalco mit der Bitte gewandt, ihm beim Schuldenabbau zu helfen. Demnach sollte Chinalco 12,3 Milliarden Dollar in gemeinsame Investitionen beim Abbau von Aluminium, Kupfer und Erz investieren. Weitere 7,2 Milliarden Dollar sollten in in Aktien umtauschbare Obligationen fliessen.

Die australische Regierung wollte demnächst über das Abkommen entscheiden. Sie war darüber besorgt, dass ein ausländischer, staatlich unterstützter Konzern einen strategischen Anteil an den grössten Rohstoffvorkommen des Landes bekommen sollte.

Nach der Kündigung des Millionenvertrags muss Rio Tinto eine Millionengebühr an Chinalco zahlen. Seine Bilanz will der Bergbaukonzern nun mit dem Verkauf von Aktien ausgleichen, 15,2 Milliarden Dollar sollen so eingenommen werden. Die Schulden lagen im Februar bei 38,7 Milliarden Dollar.

The Australian Mining Company Rio Tonto has quit its deal with the Chinese Aluminium Company Chinalco.

The company, which is having high debts asked Chinalco to help. Chinalco was requested too invest 12.3 Billions in extraction of Aluminium, Copper and Ores. Another 7.2 Billion should go to Stocks and the like.

The Australian Government was worried that a state-funded company would gain a strategical resource of its Nation.

After the contract has been cancelled, Rio Tonto must now pay billions to Chinalco. It will try to recover by selling stocks and shares aiming to gain 15.2 billion dollars. Its debts were at 38.7 bil. US$ in Febuary

So Australia chooses to suffer economic setbacks because of "strategic interests"? Is that really something people should be thinking about at this point?

 

[kliu0]

Deleted