China Central Bank Official Says Bankruptcy May Benefit the Country

December 26, 2017

A Chinese central bank official said China should allow local governments to go bankrupt to help rein in regional authorities’ excessive borrowing. A case like the bankruptcy of Detroit would convince investors that the central government is really determined to dispel beliefs of an implicit guarantee for regional authorities, Xu Zhong, head of research bureau at the People’s Bank of China, wrote in an article in the China Business News Monday….

Read More >>

China’s Fossil Fuel Deadline Shifts Focus to Electric Car Race

China will set a deadline for automakers to end sales of fossil-fuel-powered vehicles, becoming the biggest market to do so in a move that will accelerate the push into the electric car market led by companies including BYD Co. and BAIC Motor Corp. Xin Guobin, the vice minister of industry and information technology, said the government is working with other regulators on a timetable to end production and sales. The…

September 16, 2017
Read More >>

Wall Street Banks Warn Downturn Is Coming

HSBC Holdings Plc, Citigroup Inc. and Morgan Stanley see mounting evidence that global markets are in the last stage of their rallies before a downturn in the business cycle. Analysts at the Wall Street behemoths cite signals including the breakdown of long-standing Morgan Stanley Just like they did in the run-up to the 2007 crisis, investors are pricing assets based on the risks specific to an individual security and industry,…

August 25, 2017
Read More >>