China is now the world’s second-largest economy
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Bribery is a serious problem in China, but BusinessWeek reports that U.S. prosecutors, along with their Chinese counterparts, are stepping up enforcement.
Slowly but surely, the game is changing. Auto Loan Refinance Needed with Today’s Unemployment Rates If you look at the number of unemployed people across the nation, it’s no wonder why there are so many auto loan refinance applications. Few states have seen the ugly underbelly of the uncertain economy like Oregon has. According to officials in the state, the unemployment rate is at 10.6 percent for July 2010. That’s more than one percentage point higher than the national average, which was at 9.5 percent. Unfortunately, it doesn’t look like Oregon’s job market is going to turn around any time soon. If you want to count the number of Oregon residents working part-time jobs until they can find full-time positions or those who have given up job hunting altogether, the unemployment rate skyrockets to 20.6 percent. That’s more than four percentage points higher than the national average. According to reports, Oregon lost more than 3,000 jobs in July. Some officials say there could be hope for unemployed workers in Oregon, though. In June, initial reports showed the state lost 3,600 payroll jobs. However, the state actually gained 1,800 jobs in June when seasonally adjusted. That means there was a net increase of 5,400 jobs throughout the state. According to David Cooke, an Oregon state labor economist, the numbers often get skewed because many companies pay their employees once a month rather than once a week. As a result, they often miss the reporting deadlines for payroll, which means those jobs don’t show up in the monthly survey. Some experts are putting their faith in the exports industry to bring the state of Oregon back to a decent level of unemployment. Mark McMullen who runs an economic website from Oregon, said the rate of unemployment throughout the state could get as high as 11 percent before it starts making improvements. However, he also said recovery could take about two years after that to see better numbers. Posted in: Economy Popping the China real estate bubble Many financial experts have been worried about China for quite a while. Specifically, many have been concerned that a real estate bubble has emerged in China, as local governments have spent like mad as they pushed for more economic development for their region. Concerns are also growing in the Chinese government, and Bloomberg reports that Chinese banks will now be subjected to even more rigorous stress tests.
That’s a staggering assumption, but when you read about what’s been going on in China, this shouldn’t be a surprise. Short-seller Jim Chanos was sounding the alarm back in April.
There’s plenty more projects like that one. Let’s see if the government can create a soft landing here. The Economic Priority and Sportsbook Reviews As the midterm elections draw near, President Obama’s focus remains on the downturn in the economy. However, more than a year after taking office in January of 2009, the economy has picked up less than many had hoped. Since entering into office, Obama funneled millions of dollars into infrastructure and research through the American Recovery and Reinvestment Act of 2009. Many opposed to the act said the it was a waste of money spent on special interests. The dirty economic word in Washington remains “bailout.” To many, that word signified the Government failing the American people and giving away their hard earned tax dollars to companies that had not bothered to take care of themselves. In late July of 2010, however, Obama proclaimed the auto industry bailout a success as the auto companies added 55,000 new jobs. There was even some talk that the tax payers had a small chance of seeing profit on their bailout investment. However, come August, even the President had to admit that the housing market was still a “big drag” on the economy. As the economy fails to pick up at the speed many Americans – especially out of work Americans – would like to see, many are turning to less traditional methods of making money, like using information in sportsbook reviews to try their luck at betting. Former President Bill Clinton is famous for saying in an election, “It’s the economy, stupid.” During times of economic downfall, the economy tends to overshadow every other political issue as Americans fight to find jobs and keep themselves afloat. It’s not surprising, then, that the Obama administration continues to place the economy as a top priority, and with the current economic trends, it can be expected that President Obama and his administration will do so for months to come. Posted in: Economy Are Smokeless Cigarettes, Home Improvement Items Luxuries or Necessities? Since the economy woes began over one year ago, the employment rates have remained high and people have modified their purchases accordingly. In order for the economy to grow, people need to spend money but since things are uncertain, many people are not spending as much money. People are making adjustments to spending habits because of the economic instability. This reluctance in spending is evident in the quarterly results for both Wal-Mart and Home Depot. Both companies recorded second quarter profits that were better than expected; however, it appears that these increases were not due to increased sales but lower prices. This is indicative that people are still being very cautious with their money. People are also deciding that items that were once considered a necessity like microwaves or high speed internet may be less of a necessity in these cash-strapped times. This depends on the age group being questioned — older people feel that landline phones are important while younger people find them unnecessary. Consumers are determining which things can be discarded to save money while keeping up quality of life in this economy. The revenue crush applies to states as well; many states have increased cigarette taxes. In New York State, the excise tax for cigarettes is the highest in the country but people who smoke are now travelling to other states to purchase cigarettes. While the customers are out of state, they are also making other purchases which hurt the convenience stores that typically sell cigarettes. These taxes may not apply to smokeless cigarettes at this time so this phenomenon is not happening with the sale of these items. Cost consciousness is causing significant alterations in behavior to save money in this instance. While the economy is in flux, people are evaluating current purchases and selecting the best way to get their money’s worth. Once the economy improves, people will change their behavior. Posted in: Economy There’s plenty of good news and bad news in this post. The good news is that Chinese officials are taking global warming seriously. The bad news is they might be fighting a losing battle as more Chinese consumers gobble up more and more energy. Posted in: Domestic Politics, Economy, Energy China will let its currency slowly appreciate After months of subtle pressure from the United States and other nations, China has signaled a willingness to adjust its currency policies.
This is big news. For years China has kept its currency artificially low vs the dollar. Now we might see an adjustment that let’s the market have more of an impact on the value of the currency, which can help with the China/US trade deficit. Posted in: Economy, Monetary Policy, Trade, U.S. Relations Tags: China currency policy, currency reform, renminbi, yuan valuation Men’s grooming market in Taiwan grows The market for men’s grooming products is growing around the world. It’s been a big trend in the United States, and now we see evidence that it is growing in Taiwan as well.
Men’s grooming products are selling well in China as well. It will be interesting to see if the trends overseas also extend to the barbershop resurgence we’re seeing in the U.S. Nissan sees higher profits from US, Chinese markets
As the US auto market continues to resurge, Nissan is reporting higher profits in both the US and Chinese markets than anywhere else. Preliminary forecasts suggest that profits should more than triple over the coming year as demand finally starts to make a comeback. Nissan also has new products coming to both markets over the course of the year, which will no doubt boost brand sales across the board.
Read the full article here.
Posted in: Economy Tags: auto, auto manufacturers, auto sales, automobile sales, nissan |






