Word: exporters
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...Value Partners' expertise. "The thing about China is it has taken them a long time to shift from what I call a starvation psychology," Cheah says. "They think they're a poor economy, so they should attract money from abroad. Now they're realizing they should be trying to export capital. It's a remarkable U-turn with global importance...
...Even when it was a British colony, Hong Kong benefited mightily from a symbiotic relationship with the mainland. In the 1990s, the city prospered shipping goods manufactured in southern China by Hong Kong-owned companies. As south China's export-manufacturing economy exploded and the mainland's budding entrepreneurial class began seeking overseas investment, Hong Kong became a willing and able broker. This transition is reflected in the changing composition of the Hong Kong Stock Exchange. In 2003, Chinese companies accounted for only about 29% of Hong Kong's total market capitalization. By last September, that number had risen...
...simply, China has been investing too much, too fast, particularly in its export-oriented manufacturing sector. The most striking evidence of this is the relatively small role Chinese consumers play in the economy. Household consumption as a percentage of GDP fell to 36% in 2006, perhaps the lowest such ratio in the world. At the other end of the scale is the U.S., with a household consumption-GDP ratio of 72%. For years the U.S. has been consuming too much and saving too little. China has the opposite problem...
...agree with the view, espoused by some of my American colleagues, that this regime is dangerous for Russia only: the export of corruption, merged with the state machinery, is no better than the export of revolution. And that is why I believe that Putin was the correct choice as Person of the Year - because no other person this year made a deeper or more fateful impact on history, present and yet to come...
...despite exporters' grumblings, October's export earnings were actually up 35% in dollar terms from last October, a still respectable 18% in rupee terms. In the past week, the rupee has actually begun to slip a bit, partly because of worries about the high oil prices. But when economists look back at 2007, they will probably see it as a turning point in the currency's fortunes. For decades, the rupee has steadily depreciated. Now it seems to have turned a corner. One inkling of the significance of the change can be seen in the entrance fees to monuments such...