Worldcrunch
-Analysis- BUENOS AIRES — Argentines are surprised when they hear Europeans are worried the dollar is becoming cheaper. But there’s reason for it. Cheaper dollars mean that foreign products will flood the old continent, which, of course, is good for importers. In Argentina, most people believe that a strong peso is better than a weak […]
Britain’s decision to leave the EU is having a ripple effect on the island nation of Cyprus, where ex-pats and tourism operators are already feeling the pinch. But there may be a more long-term windfall in the finance industry.
-Analysis- BEIJING — The numbers are decidely mixed. Year-on-year, China’s exports fell in September by 10%, which was a 0.5% further drop over August. Meanwhile, the National Bureau of Statistics showed that third-quarter Chinese GDP growth steadied to a solid 6.7%. But putting aside the short-term trend lines, the longer-term outlook shows alarming signs of […]
PARIS — So far, so good. The collapse of the British economy predicted by the former Chancellor of the Exchequer George Osborne, in a case of a Brexit victory, has not materialized. The services sector, which represents 80% of the UK’s GDP even rebounded unexpectedly in August, and business activity recovered its level of March, […]
PARIS — The two French visitors just couldn’t get over it. “Why were you wrong again?” the elderly English lady asked them with a severe, inquisitive tone. The woman, Queen Elizabeth II, should have had other things on her mind. It was April 21, 2026, after all, her 100th birthday, and the whole planet seemed […]
The extreme economic condition that is now practically extinct across the globe could return in Venezuela if a range of corrective measures that are anathema to the socialist government aren’t swiftly instituted.
-Analysis- BUENOS AIRES — We’re now very much in the “hangover” stage, the proverbial “morning after,” as countries all over the world face painful adjustments now that the party years — when China’s booming economy fed a seemingly insatiable appetite for outside products — are finally over. While the pain may not be as intense […]
This week’s currency setbacks for the world’s second-largest economy have created a financial ripple effect across the globe, with stock market nosedives and raw material prices dropping to dangerously low levels.
MOSCOW — If you happen to produce widgets in Russia and sell them in foreign currency, your time has come. Konstantin Babkin, president of a company that produces tractors, is convinced that the ruble should have been devalued long ago. “An excessively strong ruble already killed our airplane construction, food and light manufacturing industries,” he […]
It was prepared during the global economic collapse of 2008, but it isn’t now.
CARACAS – The ongoing shortage of basic products – including food, personal hygiene products and medicine – is having a huge effect on Venezuela. President Nicolas Maduro and his government have made several announcements to fight the shortage and have accused the opposition of fanning the flames. Meanwhile, people continue to struggle to find the […]
In Venezuela, Hugo Chavez’s handpicked heir will find securing his narrow victory was nothing compared to actually serving as president of a country with deep structural ills.