Speaking in his role of chairman of the international Financial Stability Board, Mark Carney said on Monday that aspects of shadow banking considered to have contributed to the financial crisis have declined significantly and generally no longer pose financial stability risks.
Hu Shuli via Caixin | The U.S. pullout may push China onto the global limelight, but Beijing should start by fixing its own problems. As one of the few countries in the world that still rely heavily on coal-fired power generation, China has emissions that are much higher than those of the U.S., U.K, Japan and other developed countries.
This week Spain ratified its free trade agreement with Canada, known as CETA (Canada-European Union Comprehensive Economic and Trade Agreement) in spite of the suprising abstention of PSOE. Spain’s trade relations with Canada date back to the XVI century.
The so called populist uprising in the west is a rejection of one aspect of globalisation, the power of the supra-national institutions and their policies. “An alternative system has appeared to offset or undermine the existing one and, it is for the many outside the political class rather than the few inside, “summarises Mark Tinker head of AXA IM Framlington Equities Asia. Technology is offering new platforms to do what the elite used to control.
Benjamin Cole | The U.S. Federal Reserve is tightening its noose on the U.S. economy, despite being below its 2% PCE inflation target, and despite the sluggish wages that define the American job scene: real hourly wages are down in Q1 (the latest reading) and are up 3.1% in the last 10 years.
J.L.M. Campuzano (Spanish Banking Association) | According to IMF data, the pace of growth of productive investment has slown in economies which are emerging and in the process of developing from levels of 10% in 2010 to 3.6% at the moment.
Xavier Colás (Moscow) | Although NATO is an alliance based on the sum of military power, emotions count for something in the day by day of the organisation. For the Russian president, NATO is another of the US’ foreign policy tools, where there are no allies “but just vassal states”.
The IMF has forecast the global economy will grow 3.5% in 2017. Likewise, in the year to date, markets have acheived high growth rates. UBP’s analysts keep in mind small & mid caps as an investment option.
Little did observers expect Fed Chair Janet Yellen’s energetic and upbeat account of economic prospects ahead. They discovered, much to their surprise, that underperforming inflation data was brushed aside as she shifted to forecasts tailored to match with the rate stiffening.