Sunday, October 6, 2013
Five Sunday morning newsbits
Billy Bishop is back at the helm, so the China news is flowing again. Here's some stuff:
NY Times - China's economy back on track. Henry Paulson seems to suggest the future is bright for China, specifically because the leadership spent the last decade avoiding reform altogether.
Reuters - property database delay frustrates China's anti-graft drive. Wonder how this resolves? Sinocism notes that this was in all the domestic news a couple months ago.
WSJ China Realtime - China debates benefits of inheritance tax. I guess it can't happen if you don't even know what the rich people own, right? Then again, rich Whiteys also don't make their assets visible to Western governments either, do they? China definitely needs tax revenues from somewhere.
Reuters - China aims to triple trade with Malaysia by 2017. Erp... so we know that the EMs are going to get crippled by a higher cost of money as the US interest rates normalize. But does continued multiplication of trade with China cushion the blow, maybe? I wish I knew more about the last EM bear market; this time might be different, I'll admit.
Investor Intel - if you want to understand gold, look at Asia. No clue who this guy is, or whether he's worth reading. It's just nice to know that people have picked up on what I've been saying for the past year already. Gold isn't American. Whitey better wise up.