A report from the Global Carbon Project showed that China has leapfrogged past the U.S. to become the largest producer of carbon dioxide gas in the world.
India, by the way, is #3.
From the monthly archives:
September 2008
The worst financial crisis the U.S. has ever experienced is not over by a long shot. And that virtually guarantees much higher gold prices. In fact, in just over one week gold has gained as much as 14.5%!
And the $700 billion bailout package? Well if Congress passes it the dollar will get battered, [...]
After the Asian financial crisis in the late 1990’s, Alan Greenspan told Asians that they must accept that “market capitalism, as practiced in the West, especially in the United States, is the superior model.”
You might have a hard time finding any Asians to agree with that characterization today.
Asian sales jumped by 36% to $861 million for Nike in the third quarter.
Nike gets more than 50% of its sales from outside the U.S.
The number of millionaires in China grew 20% in 2007 to 415,000. That number is second only to Japan.
Want to make some money? Figure out on what those Chinese millionaires are spending their money on.
Chinese stocks hit a three-week high defying the global bear market affecting everybody else.
20 Chinese companies have bought back shares since Chinese regulators announced moves to encourage the practice.
I keep waiting for Japan to bottom but this is one of the most troubling statistics I’ve seen about Japan.
Japan reported its first August trade deficit in 26 years.
The problem was slowing exports to the U.S. and rising imports of foreign oil.
Iron ore giant Vale has stopped shipping to China over a pricing dispute.
Vale knows that China desperately needs iron ore, but Vale is making the mistake that they can’t be replaced. BHP Billiton and Rio Tinto will be happy to take their place.
The world is watching what’s going on in Washington today, Friday and through the weekend, as Treasury Secretary Paulson, Federal Reserve Chairman Bernanke, President Bush and the US House and Senate try to hammer out a bailout package for Wall Street. I do believe it’s blackmail, but there are such things as successful blackmailers.
[...]
It seems like some form of bailout bill is all but a done deal at this point, though we’re still waiting on the details. In the meantime, the “real” economy (as opposed to the financial one) is showing signs of slumping fast.
Durable goods orders plunged 4.5% in August – more than double the 1.9% [...]
