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.
- Shanghai's Natives Have No Business Scorning Migrants
- Oil and Gas Exchange in Shanghai Starts Two-Month Trial
- Gov't Once Again Tries to Pull Stock Market out of Nosedive
- Razing History
- Chipmaker Intel on a China Partnership Drive
- Beijing's Market for Second-Hand Homes Rebounds in H1
- 'Left-Behind' Children Need Our Attention Now
- Burst Bank
- China Sets 2030 as Key Date in Cutting Carbon Emissions
- Closer Look: Is Hong Kong Becoming Marginalized?
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- Children of Migrant Parents Left Alone to Die
- Share Price Tumble Puts Tycoon Linked to Fallen Officials, Businessmen in Spotlight
- Caixin Takes Over Sponsorship from HSBC of Markit's China PMI, Enters Financial Data Services
- China Said to Likely Enjoy Veto Power over AIIB's Big Decisions
- New Stakeholders for CITIC Securities Shake-Up
- Aliyun Data Center in HK Suffers 14-Hour Disruption
- LeTV Said to Buy 18 Pct Stake in Coolpad for HK$ 2.73 Bln
- Will 'Water Rings' Quench Beijing's Thirst?
- Slower Sales Prompt FAW-Volkswagen to Cut Bonuses, Extend Holiday
- Provinces Continue to Separate Leadership of Police, Law Committees