economic twits of the week

• US seeing signs of a slight rebound but consumption remains largely credit based
• Ringgit closed higher to the dollar as demand for the ringgit soars due to recent rallies
• Investors are cheerful on news of recent spikes in various bourses taking after notable gains in the US. outlook for Europe picking up
• Australia seeing its fair shares of worries but growth remains underpinned by robust investment in the mining sector. Gd on ya mate!
• Approximately 14% of Chinese retails sales in 2008 were contributed by credit card spending, triple the rate of 2005 levels
• China fears a credit bubble due to the rising number credit defaults among young adults, much like that of South Korea in 2003-2004
• Japan, meanwhile is pinning its hopes on large overseas investments along with strong overseas earnings
• Operations at South Korea's smallest carmaker Ssangyong resumed today after a 83-day work stoppage, resulting in KRW140 billion in lost production
• Small car makers are turning to electric vehicles and more joint ventures between OEMs and battery makers are on the rise