US Economy | South China Morning Post
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  • Jan 28, 2015
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US Economy

Americans ill-served by the blinkered view of US dominance

Americans ill-served by the blinkered view of US dominance

The time has come to think the unthinkable: the era of American dominance in international affairs may well be coming to an end. As that moment approaches, the main question will be how well the US is prepared for it.

Wednesday, 29 May, 2013, 6:16am 12 comments

How US creates currency wars with no winners

Photo: AFP

Travelling around Southeast Asia last week, the mood was all about currency fluctuation and its impact on markets. Things do look different when the Thai stock market's daily turnover touches US$2 billion and is higher than that of Singapore.

25 May 2013 - 5:27am

Revolving doors of power

Alexander Hamilton (centre), the first US treasury secretary, went from his law practice to the federal government and then back to law.

In Europe, it seems unthinkable that the head of Deutsche Bank would ever become the finance minister of Germany. It is less likely since the financial debacle of 2008 that any British bank boss would become chancellor of the exchequer.

15 May 2013 - 4:46am

Fed keeps door open to more Q.E. stimulus

The Federal Reserve opted to keep its key interest rate at zero to 0.25 per cent. Photo: AFP

The Federal Reserve kept its easy-money policies but left the door open to step up bond purchases if the economy slowed under the government's severe "sequester" spending cuts.

3 May 2013 - 3:31am

US economic recovery could spell disaster for Hong Kong

Last Friday, the United States released data showing the world's biggest economy grew at a weaker than forecast 2.5 per cent annualised rate over the first three months of this year.

30 Apr 2013 - 4:28am 10 comments

Budget cuts deal blow to growth in US, IMF says

Christine Lagarde

US gross domestic product will expand 1.7 per cent this year, lower than a previously forecast 2 per cent advance, according to the draft report, which was presented to the IMF board last week and may be subject to revisions before its scheduled April 16 release. The fiscal tightening that took effect in the US last month will restrain consumption in the country's economy temporarily, the report said.

13 Apr 2013 - 4:51am

Talking points

US President Barack Obama

US President Barack Obama launches the latest round of the battle over the nation's economic future when he presents an outline of his budget for next year.

10 Apr 2013 - 3:20am

Unemployment isn't working

Fewer Americans are joining the long queue for jobs as they give up on a labour market in which wages have stagnated. Photo: Bloomberg

America's wretched economic plight was revealed last week with the announcement that the country gained a mere 88,000 jobs last month. Although the monthly numbers can be unpredictable and erratic, it was less than half the figure that had been expected.

10 Apr 2013 - 3:57am

Whiff of wishful thinking about stories of onshoring

Whiff of wishful thinking about stories of onshoring

Like most businesses selling low-cost plastic items, the American company's executives considered manufacturing in China. But moulding problems, shipping costs and extended delivery times prompted them to think again. According to media reports, they decided it was worth paying an extra 5 to 10 per cent in manufacturing costs to make Orapups in the US.

5 Apr 2013 - 5:10am 3 comments

Former CLSA analyst writes quit-and-tell-all book

As safe as money in the bank?

Daniel Tabbush, who for many years was CLSA's head of regional banking research, has published a why-I-quit-the-rat-race book. Titled Quit & Run - My Wake Up Call on Wall Street, the book describes how he got into the finance industry, his thoughts about his work and why he left.

28 Mar 2013 - 6:31am 2 comments

Congress okays budget stopgap, broader battle begins

US President Barack Obama has to sign a funding stopgap measure into law by next Wednesday to avoid a partial shutdown of the US government. Photo: EPA

US lawmakers approved a funding stopgap to keep the US government operating through September and took a step towards adopting a blueprint for a decade of budget austerity.

The two votes came in rapid-fire succession in the House of Representatives ahead of a two-week congressional recess.

22 Mar 2013 - 11:42am

Fed to take cue from job market for easing move

Ben Bernanke vows to keep the Fed's policy variable. Photo: EPA

US Federal Reserve chairman Ben Bernanke said further gains in the US labour market were needed for the central bank to consider reducing its record monetary easing.

22 Mar 2013 - 4:36am

Falling unemployment still leaves US with plenty of other problems

Joblessness in the US was down 0.2 points last month

Perception is everything. To one person, a glass may be half full, but another will see it as half empty. So should President Barack Obama be dancing over the moon at February's US employment report, which saw the headline unemployment figure drop to 7.7 per cent? Or should he be desperately worried about the cartload of other economic problems the US faces?

13 Mar 2013 - 5:59am

China's economic model has its roots in the West

Michael Pettis

Is the China model today's great ideological threat to the West? Yes, but only because many Chinese know nothing about Western economic history and many Westerners suffer from self-induced amnesia about how they got rich.

11 Mar 2013 - 3:19am 1 comment

US stocks jump on strong jobs report, unemployment falls

Job seekers speak to potential employers at a job fair in Manhattan. Photo: AFP

US stocks moved higher on Friday after a surprisingly strong jobs report suggested the economic recovery was on track. The widely-anticipated monthly jobs report said the unemployment rate fell to 7.7 per cent from 7.9 per cent, while the number of net jobs gained came in at 236,000, according to the Labor Department.

8 Mar 2013 - 11:47pm