“The Altai Mountains could be sitting on a vast gold mine – quite literally. Geologists have discovered a large deposit of the precious metal to the north of the range, with estimates it could be worth as much as $850 million,” The Siberian Times reports. It is thought there could be up to 22.2 tonnes … Continue reading
The relatively weak economic growth outlook, particularly for emerging and developing economies (EMDE), provides an important backdrop for the financial challenges that some of them currently face. By Erik Feyen Recently, financial volatility returned because of various concerns in the marketplace – including (just to name a few) shifting expectations of the shape of the … Continue reading
To say that Poland’s recently concluded presidential election, in which Andrzej Duda of the Law and Justice party triumphed over the incumbent Bronislaw Komorowski of Civic Platform, was a “surprise” would be a pretty significant understatement. By Mark Adomanis I read quite a few of the pre-election forecasts in various Western magazines and newspapers and I can’t recall a single one that gave Duda even a remote chance of winning. Komorowski’s … Continue reading
Are stocks overvalued? By just about any measure that you could possibly name, stocks are at historically high prices right now. From a technical standpoint, the stock market is more overvalued today than it was just prior to the last financial crisis. The only two moments in U.S. history that even compare to our current … Continue reading
The official manufacturing Purchasing Managers’ Index (PMI) edged up to 50.2 from April’s 50.1 in line with analysts’ forecast for a 50.2 reading. A reading above 50 points indicates growth on a monthly basis, while one below that points to contraction. “In view of the sizes of enterprises, the PMI of large-sized enterprises was 50.7 … Continue reading
By David Dollar The notion of a ‘middle-income trap’ has entered the lexicon of policymakers in emerging markets in Asia and elsewhere. Many leaders of countries that have experienced fast growth — such as Chinese Premier Li Keqiang — worry that economic growth will come off the boil as their countries reach middle-income status. Growth … Continue reading
By Mike Whitney US Secretary of Defense Ashton Carter is willing to risk a war with China in order to defend “freedom of navigation” in the South China Sea. Speaking in Honolulu, Hawaii on Wednesday, Carter issued his “most forceful” warning yet, demanding “an immediate and lasting halt to land reclamation” by China in the disputed … Continue reading