THE WORLD TODAY

Capital inflows to China
Hot and bothered
Despite strict capital controls, China is being flooded by the biggest wave of speculative capital ever to hit an emerging economy
A POPULAR game this summer among watchers of the Chinese economy is to guess the size of speculative capital or “hot money” flowing into the country. One clue is that [...]

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THE NEW GOLDEN GATE

THE DE ANZA PORT …A DOOR TO PROSPERITY
Ricardo Valenzuela
It was the month of May 1983, and following the advice of Milton Friedman I was on board a Pan-American jumbo jet crossing the Pacific Ocean. My destination was Hong Kong with short stopover in Tokyo to visit my friend Kenny Kataze. After a couple hours [...]

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THE WORLD TODAY

The Fed
Well, what do you expect?
Despite rising inflation expectations the Fed keeps rates on hold

FOR the first time since the credit crisis began, the Federal Reserve’s open-market committee decided to keep American interest rates on hold. In a statement released after its policy meeting on Wednesday June 25th the Fed said the dangers to GDP [...]

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BARCLAYS

Barclays to Raise $8.9 Billion to Lift Capital, Invest Overseas

June 25 (Bloomberg) — Barclays Plc, Britain’s fourth-biggest bank, plans to raise 4.5 billion pounds ($8.9 billion) to bolster depleted capital and increase consumer lending in Asia and investment banking in the U.S.
Barclays rose as much as 8.1 percent in London trading today, the biggest [...]

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LIBERTARIAN REFLECTIONS

How to see world economy through two crises
By Martin Wolf

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Two storms are buffeting the world economy: an inflationary commodity-price storm and a deflationary financial one. Last week I argued that exchange-rate [...]

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THE WORLD’S VIEW

Wednesday, June 25, 2008

VENEZUELA’S ECONOMY

Venezuela’s economy
A funny way to beat inflation
Hugo Chávez invites the private sector to help him build socialism
TO BUILD his promised socialist revolution, Hugo Chávez seems to have concluded that he needs the help of capitalist businessmen. Earlier this month he invited a handpicked group of captains of finance and industry to [...]

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George Carlin: A Four-Letter Threat to Authority

When I was in high school, I got into a discussion with a couple of my classmates over the role institutions [...]

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THE WORLD ECONOMY

Free trade becomes a scapegoat as times get tough
For the past decade and more, the world has experienced all the benefits that a globalised economy brings, at small and containable cost. China’s phenomenal growth has been only one part of the success story; cheap goods from emerging economies kept the lid on Western inflation and [...]

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How Should the Middle East Invest Its Oil Profits?

America’s Free Lunch is Over

By MICHAEL HUDSON
Every week Mid-Eastern countries acquire more dollars in payment for their oil and other exports, and also for rising U.S. investment in their stock markets and other property. This confronts them with a problem: What can they [...]

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