Wednesday, 4 September 2013

Precious Metals Prices 12.04 a.m. Eastern Time

Gold Price Futures   3 months    US$  1,391.43

Silver Price Futures  3 months    US$      23.44
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Japan rises to 9th in competitive ranking

Japan is ninth in the overall rankings of the World Economic Forum's annual global competitiveness report for 2013-14, up from 10th place the previous year, the forum said Wednesday.
While Japan has strengths in business sophistication and innovation, its overall competitive performance continues to be hampered by severe macroeconomic weakness, the report said. The ratio of Japan's general government debt to its gross domestic product reached almost 240 percent, the worst among the 148 economies surveyed, it added.
The top Five are:
1   Switzerland
2   Singapore
3   Finland
4   Germany
5   U.S.
Source: Xinhua
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China-Mexico relationship has entered a new phase

 Chinese President Xi Jinping met here on Wednesday with his Mexican counterpart Enrique Pena Nieto on the sidelines of the Group of 20 (G20) summit to be held on Sept. 5-6.
China and Mexico should focus on expanding two-way investment and deepening cooperation in economy, trade and infrastructure, Xi noted.
The two governments should create better conditions for investment and market access in each other's country, the Chinese president said, adding that he hopes both sides will speed up negotiations on setting up a China-Mexico investment fund.
The Mexican side appreciates China's efforts to promote bilateral cooperation, and attaches great importance to developing a positive and stable relationship with China, Pena Nieto said.
Mexico hopes to expand two-way trade with China and will take steps to improve market access for Chinese goods in Mexico, Pena Nieto said, adding that his country welcomes more Chinese investment in its infrastructure and other sectors.
Mexico is willing to play a positive role in boosting China-Latin America relations, Pena Nieto said.
The two leaders also exchanged views on the upcoming G20 summit, vowing to coordinate actions, ensure a fruitful summit, safeguard the momentum of the world economic recovery, and increase the voice and influence of emerging economies in global economic governance.
Following their meeting, Xi and Pena Nieto witnessed the signing of a memorandum of understanding of establishing a high-level intergovernmental working group on investment.

Source: Xinhua
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China reiterates political solution in Syria

China reiterated on Wednesday that only political solution can serve to resolve the ongoing conflict in Syria.
"We are seriously concerned about possible unilateral military actions taken by relevant countries," Chinese Foreign Ministry spokesman Hong Lei said at a routine press conference in Beijing.
He noted that any actions taken by the international community should comply with the principles of the UN Charter and relevant international norms in order to prevent the situation in Syria and the Middle East from further deterioration.
Hong said China has repeatedly shown its support for an independent, objective, just and professional investigation by UN chemical weapons experts into alleged use of chemical weapons.
"No precondition or conclusion should be made prior to the release of investigation results," Hong urged.
Source: Xinhua
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OECD sees China's growth rate on upswing in Q4

China's economic growth is expected to pick up to 8 percent by the fourth quarter after a slowdown in the first half of 2013, the Organization for Economic Cooperation and Development said on Tuesday in its latest assessment.
"Growth in China has seemingly passed the trough and looks set to recover further in the second half of this year," said Jorgen Elmeskov, the OECD's deputy chief economist.
China's low inflation provides scope to ease monetary policy if needed, but strong credit growth suggests the need for caution, he added.
Elmeskov also emphasized the need for deeper structural reforms in China to maintain stable growth.
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U.S. planned military action against Syria runs grave risks

The U.S. military action against Syria loomed larger as President Barack Obama on Tuesday secured the key backing of House leaders in his push for military action in Syria.
Though the Senate Foreign Relations Committee has, in a draft authorization for the use of military force in Syria, set a time limit and barred U.S. ground troops , there seems to be every indication that the war, once breaking out, might well slip out of White House's control and put Washington again in hot water.
Destitute of support and concerted action from any allies.
The issue of chemical weapons could hardly be solved by military strikes against Syria, which will more likely present new threats. With the U.S. armed intervention, there will be chances that chemical weapons will fall into terrorists' hands and thus proliferate in the Middle East and even the whole world at large. And this is not in the U.S. interest.
To make things even worse, there is a strong presence of Islamic extremists and al-Qaida militants in Syria's opposition troops. A rise in extremist force is bound to lead Syria astray onto a more dangerous path and will, in turn, undermine the U.S. strategic interests.
United Nations Secretary-General Ban Ki Moon remarks, which mirrored the common view of the international community, expressed disapproval of the U.S. endeavor to take unilateral action without the U.N. authorization.
Military intervention in Syria will have a major impact on the geopolitics of the region as well as exert a spillover effect on a number of countries in the Middle East and the rest of the world at large.
Given the painful lessons from the wars in Iraq and Afghanistan, whose repercussions are still being felt across the world, it is believed that a political solution will be a best and ultimate approach to end the Syrian crisis.
Source: Xinhua

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The World Population 2013 (Est) Top 100

RankCountryPopulationYear
1.China1,349,585,7922013 (Est.)
2.India1,220,800,3842013 (Est.)
3.United States of America316,668,5762013 (Est.)
4.Indonesia250,775,6642013 (Est.)
5.Brazil207,964,5282013 (Est.)
6.Pakistan193,238,8642013 (Est.)
7.Nigeria174,507,5362013 (Est.)
8.Bangladesh163,654,8642013 (Est.)
9.Russia137,410,0002013 (Est.)
10.Japan127,253,0722013 (Est.)
11.Mexico116,220,9442013 (Est.)
12.Philippines105,720,6402013 (Est.)
13.Ethiopia96,838,4562013 (Est.)
14.Vietnam92,477,8562013 (Est.)
15.Egypt85,294,3842013 (Est.)
16.Germany81,147,2642013 (Est.)
17.Turkey80,694,4882013 (Est.)
18.Iran79,853,9042013 (Est.)
19.Democratic Republic of the Congo75,507,3122013 (Est.)
20.Thailand67,448,1202013 (Est.)
21.France65,729,3282013 (Est.)
22.United Kingdom63,395,5762013 (Est.)
23.Italy61,482,2962013 (Est.)
24.Myanmar55,167,3282013 (Est.)
25.South Korea48,955,2042013 (Est.)
26.South Africa48,601,0962013 (Est.)
27.Canary Islands47,370,5442013 (Est.)
28.Sudan47,352,0682013 (Est.)
29.Colombia45,745,7842013 (Est.)
30.Ukraine44,573,2042013 (Est.)
31.Tanzania44,455,2202013 (Est.)
32.Kenya44,037,6562013 (Est.)
33.Argentina42,610,9802013 (Est.)
34.Poland38,383,8082013 (Est.)
35.Uganda37,181,3722013 (Est.)
36.Algeria35,818,9242013 (Est.)
37.Canada34,568,2122013 (Est.)
38.Morocco32,649,1302013 (Est.)
39.Iraq31,858,4802013 (Est.)
40.Afghanistan31,108,0762013 (Est.)
41.Nepal30,430,2682013 (Est.)
42.Peru29,849,3042013 (Est.)
43.Malaysia29,628,3922013 (Est.)
44.Uzbekistan28,661,6362013 (Est.)
45.Venezuela28,459,0842013 (Est.)
46.Saudi Arabia26,939,5842013 (Est.)
47.Ghana25,691,8962013 (Est.)
48.Yemen25,408,2882013 (Est.)
49.North Korea24,720,4082013 (Est.)
50.Mozambique24,096,6682013 (Est.)
51.Madagascar23,259,6102013 (Est.)
52.Taiwan23,151,3402013 (Est.)
53.Syria22,457,3362013 (Est.)
54.Cote d'Ivoire22,400,8362013 (Est.)
55.Australia22,262,5002013 (Est.)
56.Romania21,790,4802013 (Est.)
57.Sri Lanka21,675,6482013 (Est.)
58.Cameroon20,549,2202013 (Est.)
59.Angola18,565,2682013 (Est.)
60.Burkina Faso17,812,9602013 (Est.)
61.Kazakhstan17,736,8962013 (Est.)
62.Niger17,709,0922013 (Est.)
63.Chile17,166,3642013 (Est.)
64.Netherlands16,805,0362013 (Est.)
65.Malawi16,777,5482013 (Est.)
66.Ecuador15,439,4292013 (Est.)
67.Cambodia15,205,5392013 (Est.)
68.Mali14,917,5332013 (Est.)
69.Zambia14,746,2802013 (Est.)
70.Guatemala14,373,4722013 (Est.)
71.Senegal13,300,4102013 (Est.)
72.Zimbabwe13,182,9082013 (Est.)
73.Rwanda12,012,5892013 (Est.)
74.Chad11,193,4522013 (Est.)
75.Guinea11,176,0262013 (Est.)
76.Cuba11,061,8862013 (Est.)
77.Burundi10,888,3212013 (Est.)
78.Tunisia10,835,8732013 (Est.)
79.Portugal10,799,2702013 (Est.)
80.Greece10,772,9672013 (Est.)
81.Bolivia10,461,0532013 (Est.)
82.Belgium10,444,2682013 (Est.)
83.Somalia10,251,5682013 (Est.)
84.Dominican Republic10,219,6302013 (Est.)
85.Czech Republic10,162,9212013 (Est.)
86.Hungary9,939,4702013 (Est.)
87.Haiti9,893,9342013 (Est.)
88.Benin9,877,2922013 (Est.)
89.Azerbaijan9,590,1592013 (Est.)
90.Belarus9,508,3502013 (Est.)
91.Sweden9,119,4232013 (Est.)
92.Honduras8,448,4652013 (Est.)
93.Austria8,221,6462013 (Est.)
94.Tajikistan7,910,0412013 (Est.)
95.Israel7,707,0422013 (Est.)
96.Switzerland7,670,4782013 (Est.)
97.Serbia7,243,0072013 (Est.)
98.Hong Kong7,182,7242013 (Est.)
99.Togo7,154,2372013 (Est.)
100.Bulgaria6,981,6422013 (Est.)

Source: Geoba.se
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China Development Research Foundation:World Economy in next 20 years

The world is having an economic  transformation, as the middle class of emerging countries such as China,India,Brazil and Indonesia are growing as a whole. The next 20 years will bear witness of a fundamental change where over half of the world's population will rise to become part of the middle class.
  "These transformation will bring to enterprises and individuals unprecedented opportunities but will also bring about a series of great challenges".
 These include the balancing of  the world economy, the search for a new international order, and a global growth pattern with sustainability of our environment and natural resources.
  As key players in the global economy, multinationals will play a particular important role in this transformation.
  Since its foundation the China Development Forum in 2000, has served as a platform for international dialogue and collaboration.
 In September 2012, Lu Mai Chairman of China Development  Research Foundation,suggested
to the Chairman of PriceWaterhouseCoopers to conduct a survey in order to understand and assess
the expectations of multinationals on China's investment environment.
  Not only does this study reflect the engaged outlook of global multinationals towards their investments prospects in China, it also skilfully captures the tremendous opportunities inherent in
the current transformation of China's Economic Model.

This post and several that will follow are in line with the purpose of this blog to Give a more longer term perspective of Economic trends.

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Precious Metals Prices 2.48 p.m. Eastern Time

Gold Price Futures   3 months      US$ 1,394.62

Silver Price Futures  3 months      US$     23.51
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US Senate authorizes military strike on Syria

US Senate panel passes authorization for use of military force in Syria.
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Marc Faber's Thoughts

“interest rates are no longer a tail-wind, earnings growth is not there, and emerging economies are collapsing (so no global growth).” However, with asset allocators “swimming in the pool of liquidity” it is hard to say ‘when’ it will occur especially as money floods out of EM markets. Critically though, it is Syria (and the spillover) that has Faber most concerned; as he concludes that Western governments “meddling” is “going to be a disaster.”

 Source: Zerohedge
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Diabetes a Public Health Problem in China,Journal of the American Medical Association

Objective   To investigate the prevalence of diabetes and glycemic control in the Chinese adult population.
Design, Setting, and Participants   Using a complex, multistage, probability sampling design, we conducted a cross-sectional survey in a nationally representative sample of 98 658 Chinese adults in 2010.
Main Outcomes and Measures   Plasma glucose and hemoglobin A1c levels were measured after at least a 10-hour overnight fast among all study participants, and a 2-hour oral glucose tolerance test was conducted among participants without a self-reported history of diagnosed diabetes. Diabetes and prediabetes were defined according to the 2010 American Diabetes Association criteria; whereas, a hemoglobin A1c level of <7.0% was considered adequate glycemic control.
Conclusions and Relevance   The estimated prevalence of diabetes among a representative sample of Chinese adults was 11.6% and the prevalence of prediabetes was 50.1%. Projections based on sample weighting suggest this may represent up to 113.9 million Chinese adults with diabetes and 493.4 million with prediabetes. These findings indicate the importance of diabetes as a public health problem in China.

 Source: Journal of the American Medical Association. 
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WSJ: Think Manhattan Rents Are High? Try Hong Kong

In Manhattan, rents have risen over the past three years, and a one-bedroom now averages about $2,800; a two-bedroom is nearly $4,000 a month, according to Citi Habitats.
In Hong Kong’s most desirable neighborhoods, a one-bedroom, unfurnished apartment will cost, on average, 36,000 Hong Kong dollars (US$4,642) a month; a two-bedroom averages 59,000 Hong Kong dollars (US$7,608), according to data released in February from ECA International.
Source: WSJ
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WSJ: Major Stock Indexes 8.39 a.m. Eastern Time

Major Stock Indexes
LASTCHANGE% CHG
Source: WSJ
UK: FTSE 1006432.36-36.05-0.56%
Germany: DAX8115.08-65.63-0.80%
France: CAC 403932.00-42.07-1.06%
Stoxx Europe 600300.17-1.61-0.53%
Hang Seng22326.22-68.36-0.31%
Japan: Nikkei 22514053.8775.430.54%
DJIA14805.58-28.38-0.19%
Europe Dow1751.73-6.66-0.38%
Global Dow2204.93-0.48-0.02%
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WSJ:India, Indonesia Currencies Continue to Fall

  In an article published today in the Wall Street Journal about emerging markets plunging currencies and stock markets:
"Indian and Indonesian currencies were battered Wednesday, with both the rupee and the rupiah continuing a recent downtrend, reflecting investors' concerns over growing trade imbalances and slowing emerging-market economies.
The two countries have taken the brunt of a selloff in Asia, as their widening trade deficits and rising inflation leave them especially vulnerable to the impact of global fund managers withdrawing investments from Asia amid signs of accelerating growth in the U.S. and Europe. The Reserve Bank of India and Bank Indonesia have pursued a variety of strategies to reverse the trend, including raising interest rates and intervening in foreign-exchange markets, but so far they have failed to stem the slide.
India's rupee was at 67.10 to the U.S. dollar on Wednesday afternoon after reaching 68.60 earlier in the day—close to a record 68.80 hit on Aug. 28.
Dealers said India's central bank has sold dollars several times in recent weeks. The RBI says it intervenes in the currency market only to curb volatility and not to target a particular exchange rate.
The rupee's slide,it is down 19% in the year to date.
Indonesia's rupiah reached 11,125 against the dollar in the interbank market on Wednesday, its lowest level since April 2009. It is down 14% in the year to date.
The possible US military strike to Syria,could spur oil prices higher boosting their already high energy import bills". 
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Precious Metals Prices 7.56 a.m. Eastern Time

Gold Price Futures      3 months    US$    1,397.24

Silver Price Futures     3 months    US$         23.65
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