August 14, 2009

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