The scariest quote for the world economy this week came from a member of the European Central Bank’s executive board. Asked by Eurogroup President Jeroen Dijsselbloem whether Greek banks would open Friday, his answer was stark: “Tomorrow, yes. Monday, I don’t know,” replied Benoit Coeure. Read Here – The Atlantic
A perfect storm is brewing this summer for emerging markets, and it could hit hard in September. Read Here – CNN Money
Several recent developments reveal how political and institutional fragmentation in the United States has produced self-inflicted wounds for the U.S. abroad. In all of these instances, America’s ability to exercise economic power in the world has been deliberately curtailed through decisions made unilaterally in Washington by American political leaders. Read Here – The Atlantic
That Apple should buy Greece with all the useless cash it has on hand is just a joke that won’t go away. Yet it’s true that, if big American corporations and European politicians had any imagination, they could probably engineer a bailout for the nearly bankrupt country on terms that would benefit everyone. Read Here – Bloomberg
China may need more time to reverse the current economic downturn than previously expected, and further measures are necessary to prevent an accelerated cooling, a leading government think tank says. Read Here – People’s Daily
Often overlooked in the tumult of Washington’s foreign policy debates is the remarkable consistency of U.S. foreign and trade policies over time. This is due to one immutable factor: American national interests. When U.S. policy moves away from our national interest, not only does it cease to serve its primary purpose, but it becomes unstable […]
Why would China fear a nation it could traumatize tomorrow by dumping its debt or shifting its iron ore, coal and copper orders elsewhere? That’s a good question for the United States to ask itself. Read Here – Bloomberg
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates. Read Here – Bloomberg
China’s $3.8 trillion of currency reserves are the largest stockpile ever amassed. Economists have long seen that money as a strength — the ultimate rainy-day fund should China’s shadow-banking system blow up. Trouble is, the value of those holdings depends on China’s $1.3 trillion of U.S. Treasuries. If they plunge in value, all hell breaks loose […]
Chinese company debt twice the size of Ireland’s economy will come due in 2014, spurring concern the nation is on the cusp of its first corporate bond default. Read Here – Bloomberg
looking beyond borders 