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Okay, don’t just think ‘Oh, Goldman are trying to wring a few last drops of revenue from the EM story…”
Instead, click to enlarge. Read more
Economic commentators have often expressed concerns that economic growth in China is unbalanced, with an unsustainable reliance on investment-driven growth. Here, we make comparisons with two other Asian economies, and look at the evidence for a counter-argument that the imbalance merely reflects a shift from an agricultural, rural economy to a more productive and urban economy. Read more
Live markets commentary from FT.com
GSK seals £1.35bn sale of Lucozade and Ribena || Benign inflation adds to sense Chinese economy recovering || PetroChina trading suspended || US investors pile into European equities || Europe bond rush brings in $29bn || Vickers calls for doubling of bank capital levels || Neiman Marcus up for sale with $6bn price tag || Japan’s second quarter economic growth revised up || Japan anticipates Olympic boost, but Fukushima shadows linger || Hedge funds cut back on fees || Peña Nieto waters down Mexico tax reforms || South Korea probes three foreign brokerages including Goldman || Markets Read more
Markets: Asian stocks rose, with Japan’s benchmark index reaching a one-month high, and the yen weakened after Tokyo was selected to host the 2020 Olympics. Metals rallied and the won gained on improving Chinese exports and easing concerns over a reduction in U.S. stimulus. (Bloomberg) (Financial Times) Read more