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April 2013 International Economic Fundamentals

Ally

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News articles for April 2013.
 

Ally

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China property curbs in focus ahead of parilament meet




Asset prices have whipsawed as investors first bet that government-mandated infrastructure spending would boost real estate prices, only to then fret about new measures to cool a market that has seen double-digit annual price rises in cities like Beijing and Shenzhen.







Markets
appear more nervous than the government about the pace of price rises revealed by official January housing data issued last week, and economists at influential state-run think-tanks reckon investors are right to be worried that the new government is preparing to widen a pilot property tax as part of a broader reform of land and fiscal policies.





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Has the UK finally lost its safe haven status?





Claus had an interesting post just now on the meaning of the Moody`s downgrade of UK sovereign debt. He sees this more as a renewed opportunity to focus on the meaning of safe haven status than as any market-moving signal since Moody`s is late to the game. Claus also gives a stab at defining what a safe haven status entails.







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On China's electricity grid, east need west - for coal





Geography has presented obstacles to generations of Chinese planners. From the ancient Grand Canal to the ongoing South-to-North Water Transfer Project, vast waterways have been rerouted. The latest challenge: redirecting energy generated in some of China`s remotest provinces to power-hungry cities in the east.







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Aging deepens debt-laden Europe's economic woes




RIGA/LISBON (Reuters) - Long after the debt crisis is over, Europe will be grappling with an even more serious problem - how to pay for growing numbers of old people.




The population of some countries is stagnant or already shrinking, notably Germany's. That will reduce savings and potential economic growth.





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Southern Europe's economic depression deepens




Southern Europe`s economic depression deepens. In Spain, 6.2 million people ` a record 27 per cent of the labour force ` can`t find a job. Greece`s unemployment rate is even higher, 27.2 per cent; in Italy, it`s 11.6 per cent. For young people, the jobless rates are double or, in the case of Italy, triple that. Clearly, economic growth is urgently needed, lest a generation of Europeans be forced either to emigrate or to waste their prime earning years ` to say nothing of a prolonged slump`s implications for democracy and political stability.




Yet in a recent visit to Washington, German Finance Minister Wolfgang Schaeuble, whose government pretty much calls the shots in Europe, defended the current policy ` which he described as "force member states, oblige member states, to stick to European rules, to reduce deficits in a, of course, balanced way, to enhance their competitiveness by structural reforms," until "European mechanisms" buy enough time for them to regain access to financial markets. Schaeuble added, in words that must chill the heart of every young job-seeker from Bilbao to the Balkans, "No one should expect that Europe will deliver high growth rates in the coming years."





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Weak inflation, record unemployment point to Eurozone rate cut




BRUSSELS ` Inflation in the eurozone has fallen to a three-year low and unemployment hit a new record, cementing expectations of an interest rate cut by the European Central Bank later this week.




Inflation tumbled to 1.2% in April, the lowest level since February 2010 and the biggest monthly drop in more than four years, the EU`s statistics office Eurostat said on Tuesday, reflecting an economy mired in recession.





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