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World economy

Interchange card fees

World economy 30th May 2013

Visa, Mastercard ask justice to rule their rates legal

MADRID | By Irene Matías | The world’s largest payment networks asked a federal judge in the U.S. District Court in Manhattan to rule that their practices for setting fees paid by merchants who accept credit and debit cards aren’t anticompetitive. Large retailers such as Wal-Mart Stores, Starbucks and Gap refuse any settlement and may bring additional lawsuits against the payment networks. But on top of all of this the real loser are the consumers.

No Picture

World economy 29th May 2013

China-Germany relations: dream team or pipe dream?

Angela Merkel refuses to levy tariffs of 47% on Chinese solar panel imports because she fears damaging China-Germany relations and being shut out of its market. However, in Ray Kwong’s view, Berlin is too dependent on China’s economic engine, which could crack anytime due to territorial conflicts, too-rapid expansion of credit, lax environmental oversight, widening discontent among the population and many other legitimate problems.

Chinese solar panels

World economy 29th May 2013

Tariffs on Chinese solar panels: another EU members’ bicker

A new dispute among EU members has arisen. This time is not an austerian versus keynesian brawl but a shall-we-punish-Chinese-dumping one. Next week the Commission will decide whether to impose big tariffs to the $27 billion worth of solar panels that China sells to Europe each year. In this battle over how to respond to Beijing trade practices, will domestic interests prevail?

Asias economic rising

World economy 24th May 2013

Asia Rising: A New Competitive Landscape

By Ray Kwong  | Broad strokes, when you’re talking about the 21st century possibly becoming the Asian Century, one thing becomes crystal clear: it’s not preordained and it’s not just all about China. With its varied cultures and emphasis on education, self-reliance and upward mobility, Asia may overtake the West as the world’s economic engine.

No Picture

World economy 23rd May 2013

Oklahoma tornado costs: huge and polemic

NEW YORK | By Ana Fuentes | The last huge tornado in Oklahoma could cost as much as 2 billion dollars. The center of the state has been devastated, 24 people dead, around 13,000 homes destroyed, cars and schools totally ruined. The final bill for the State, the regional government and private insurers is going to be one of the highest in US history.

China roads

World economy 16th May 2013

China’s emerging cities

China turns into a urban nation. A transformation that entails a dramatic achievement and a challenge without precedents in the world. As cities become better places to live they become more expensive too, to the extent that people can’t afford the luxury of inhabiting these mega-cities. Without a fairer model, which fosters job creation and an equal access to resources, urbanization risks  undermining the country’s transition towards domestic consumption.

No Picture

World economy 15th May 2013

France culture tax reignites debate: too much levying already?

NEW YORK | As the country plunges into recession, the government proposal on a France culture tax as high as 1% on the sale of smartphones, tablets and other Internet devices is seen with skepticism the United States. Paris claims it would support to create digital cultural content inside France and counterbalance foreign content invasion. Protectionism or a smart move in times of crisis?