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Showing posts from January, 2016

The Need for a Tax on Financial Trading and other news and views

The Need for a Tax on Financial Trading  - A financial transaction tax — a per-trade charge on the buying and selling of stocks, bonds and derivatives — is an idea whose time has finally come. ... A well-designed financial transaction tax — one that applies a tiny tax rate to an array of transactions and is split between buyers and sellers — would be a progressive way to raise substantial revenue without damaging the markets. Hollande-Rouhani lunch scrapped after Elysée Palace 'refused to remove wine from menu'  - France, unlike Italy, has reportedly refused to take wine off the table for Iranian president Hassan Rouhani, meaning he will lunch alone during his historic trip to Paris – the first for an Iranian leader in 17 years.  As anger mounted in Rome  on Wednesday over a decision to cover up nude statues with large white panels so as not to offend Mr Rouhani, the French have already made it clear that no such cultural concessions would be made regarding its cherished gas

Some thoughts on China and other news and views

False Alarm on China  - The prospect of an economic meltdown in China has been sending tremors through global financial markets at the start of 2016. Yet such fears are overblown. While turmoil in Chinese equity and currency markets should not be taken lightly, the country continues to make encouraging headway on structural adjustments in its real economy. This mismatch between progress in economic rebalancing and setbacks in financial reforms must ultimately be resolved as China now enters a critical phase in its transition to a new growth model. But it does not spell imminent crisis. China’s Bumpy New Normal  - China’s shift from export-driven growth to a model based on domestic services and household consumption has been much bumpier than some anticipated, with stock-market gyrations and exchange-rate volatility inciting fears about the country’s economic stability. Yet by historical standards, China’s economy is still performing well – at near 7% annual GDP growth, some might sa