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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
No Picture

Spanish economy 18th April 2015

After years of hard assessment, is Spain the IMF’s new favorite?

The Corner | April 18, 2015 | The IMF raised growth expectations for all the major economies in the Eurozone – especially Spain to 2.5% in 2015 and 2% in 2016- and for Japan. The new figures, the sixth improved forecast in a row– are more aligned with Madrid expectations (2%, although the Minister of Economy even forecasts a 3% growth). Low oil prices, the euro depreciation and the ECB’s monthly liquidity shots are the three aces of the Spanish government, who is hoping to retain the power in the next general election despite the popularity of new parties.

Internet financing in China

World economy 17th April 2015

China is fertile ground for internet finance

BEIJING | April 17, 2015 | By Huang Yiping via Caixin |  The recent establishment of private Internet banks has ushered the banking industry into an era where banks need no brick-and-mortar offices. Technologies like big data make this possible, yet there is disagreement over how much potential Internet finance has.

AIIB

Markets 16th April 2015

AIIB, China’s renewed (and controversial) influence

Known as the BRICS bank, the Asian Infrastructure  Investment Bank (AIIB) wants to become an alternative to the IMF and the World Bank.  The initiative led by China adds to Beijing’s ambitious project of recovering the ancient Silk Road. So far, more than 40 countries from the five continents showed their support, proving China’s growing –and controversial– global influence.

 

Japan US

World economy 16th April 2015

Japan beats China as main US debt holder

The Corner | April 16, 2015 | For the first time since the beginning of the financial crisis, Japan overtook China as first holder of U.S. treasuries. Low rates and other monetary policy instruments carried out by Japan have prompted local investors to move their money to the US.

 

Spanish households

In Europe 16th April 2015

Net financial wealth of Spanish households grew by 13.5% in 2014

The Corner | April 16, 2015 | Net financial wealth of Spanish households reached a historic maximum of 1.17 trillion euros in 2014, 13.5% more than a year before. This shows the reduction of indebtedness, since the gap between savings and loans has increased in the last 12 months, in line with the trend of recent years.

 

lagarde

World economy 15th April 2015

What structural reforms?

PARIS | April 15, 2015 | By Francesco Saraceno | I am ready to bet that the latest IMF World Economic Outlook, that was presented [on Tuesday]  in Washington, will make a certain buzz for a box. It is box 3.5, at page 36 of chapter 3, which has been available on the website for a few days now. In that box, the IMF staff presents evidence on the relationship between structural reforms and total factor productivity, the proxy for long term growth and competitiveness. (Interestingly enough people at the IMF tend to put their most controversial findings in boxes, as if they wanted to bind them).

Euro trade weighted exchange rate

In Europe 15th April 2015

Impact of a weaker euro could add up to 0.1% to EMU GDP

The Corner | April 15, 2015 | According to Barclays, the boost from lower oil prices on household consumption has materialised and has been stronger than expected, while the ECB’s aggressive QE has exceeded their already high expectations, creating the most favourable monetary and financial conditions since the start of EMU.