Why the Global Economy Is Still Stuck
The global economic news is not good lately. The Italian election was a statement against the austerity policy of the previous government, but failed to offer an alternative. The resulting uncertainty keeps Italy's government bond market on thin ice, threatening to engulf the whole euro zone in a new financial storm.
The U.S. government has been embroiled in a fight over something called "sequester" for weeks without a solution. The resulting US$ 85 billion cuts in government spending rekindle the risk of double-dip recession. The cuts are 0.5 percent of GDP and less than one-tenth of the United States' fiscal deficit. The big worries over them reflect the fragile state of the American economy after massive stimulus over five years and a dysfunctional U.S. political system.
- Fighting for Breath
- Graphic: Level of Distrust
- Forsaking the Fluff, China Joins the Cloud
- Media Watch: Xinhua, People's Daily in Rare Tussle, over Rate Cuts
- Watchdog Repeats Order to Remove Net TV Apps from E-Stores
- Peng Visits Delhi
- iPhone 6 Launch
- Caixin Podcast: Will Jack Ma Drop Hangzhou for Hong Kong?
- Caixin Podcast: No Ordinary Heist in Dalian
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- UnionPay, Apple Said to Agree on U.S. Firm's New Payment Technology
- Coming to Grips with Ammonia in China's Haze
- New-Energy Car Market Is Open Road, BYD CEO Wang Chuanfu Says
- Closer Look: Alibaba's Looming IPO Sends Shockwaves through Bourses at Home, Abroad
- After Years of Dominance, UnionPay's Enemies Arrive at the Gates
- PBOC Punishes Payment Companies for Mishandling Bank Card Transactions
- Media Outlet Blackmailed over 100 Companies, Xinhua Reports
- Amid Market Downtown, China's Developers Dig In
- Cutting Pay of SOE Bosses Just the Beginning of Necessary Changes
- Shenzhen's Qianhai Zone Joins Overseas E-Commerce Pilot