Word: market
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...Stock-market analysts, who are usually wildly bullish on far-off earnings projections, seem to have the same tentative take on the post-stimulus economy. According to Thomson Reuters, analysts believe that on average, companies in the Standard & Poor's 500 will earn 22% more in 2011 than they will next year. That's a larger-than-average jump for corporate profits. But it will be down from the 25% jump analysts are expecting for 2010, when the stimulus money will still be pumping into the economy. And it is far below other rebounds. In 2003, for instance, corporate profits...
...That enthusiasm will disappear quickly should Merkel shy away from change. "I hope the new government will be good for business as Germany needs structural reforms," Volker Treier, the chief economist of the Association of German Chambers of Industry and Commerce told TIME. "We need a more flexible labor market, reforms of the social security system and urgent reforms of corporate tax." If Merkel decides to push through reforms, it's bound to put her on a collision course with opposition parties, like the Social Democrats and the ex-communist Left Party, and Germany's powerful trade unions. "There...
...with Merkel, who's spent the past few years defending Germany's social and labor protections. "I think Chancellor Merkel will continue to be middle of the road to appease the Social Democrats," Gustav Horn, the director of the Macroeconomic Policy Institute in Düsseldorf told TIME. "Labor market reforms are still very unpopular in Germany and they're not necessary because the German labor market has proved to be very flexible in recent years." (Read: ""No We Can't": Young German Voters Have Tuned...
...This may be the flaw in China's strategy to nourish private-sector enterprises. If SMEs are to tap the capital markets for steady and sustainable financing, investors must be willing to support them for the long term. Unfortunately, the market's current get-rich-quick mindset cannot be changed overnight. Hong Kong, a more mature financial center, launched a GEM board 10 years ago. It has not been a notable success, with just 172 companies and total market capitalization of $11 billion - equal to 0.6% of the main board...
...Board in Shenzhen is doing better, having listed 293 firms with total market cap of $80 billion, equivalent to about 11% of the main board's. Still, the odds are that GEM and other initiatives may not do much to help China's private sector. The country's rulers may yet be forced to move more aggressively to stop state-owned enterprises from sucking up all the oxygen in the banking system, and do so sooner rather than later...