• Sat
  • Jul 26, 2014
  • Updated: 4:29am

US Economy

China says it is not top trading nation

China has denied reports it passed the United States as the largest trading nation, saying that it still trails when the values of goods imported and exported by both countries are calculated using comparable free-on-board (FOB) prices.

Thursday, 14 February, 2013, 4:53am

Obama needs to find consensus in second term

A second-term US president's first state-of-the-union address after re-election is traditionally a rallying cry to unite the country behind a common goal and build a legacy on the foundations of the first term. President Barack Obama cited the clearing of the "rubble" of [financial] crisis as the foundation for a wider agenda that fleshed out the populist themes of his inauguration address. The item that people everywhere will empathise with, after the horror of a massacre of small schoolchildren, is the reform of gun controls. The one that matters to the world economy, however, is how to deal with a budget deficit and national debt without threatening growth and recovery.

14 Feb 2013 - 1:29am

US to launch free trade talks with EU

Answering mounting calls from the European Union to pursue a grand trade pact to spur growth on both sides of the Atlantic, Obama said the proposed treaty would help boost American exports and jobs.

14 Feb 2013 - 4:53am

A world without America as No 1

Long before anyone else, former US president Bill Clinton saw that America would have to prepare for the time when it would no longer be the No 1 power in the world. In his 2003 Yale University address on "Global Challenges", he said: "If you believe that maintaining power and control and absolute freedom of movement and sovereignty is important to your country's future, there's nothing inconsistent in [the US continuing to behaving unilaterally].

14 Feb 2013 - 1:29am 6 comments

China overtakes US to become biggest trading nation

China's customs administration said the combined total for imports and exports in Chinese goods reached US$3.87 trillion in 2012, edging past the US$3.82 trillion trade in goods registered by the US Commerce Department.

12 Feb 2013 - 5:29am

Beware of mixed economic signals

Investors should heed conflicting economic signals. If they had predicted last week where the next negative sign was coming from, many would have said Europe, which is unlikely to emerge from its debt woes without another mini-crisis or two. But it turned out to be the US, where the economy contracted 0.1 per cent in the December quarter, against market expectations of more than 1 per cent growth. Conflicting signals emerged by the end of the week, with revised figures showing the US economy added many more jobs than thought in the December quarter, sending the Dow Jones index above 14,000 for the first time since 2007.

4 Feb 2013 - 3:02am

When China's collective vision meets America's individual voice

The governing systems of the world's two largest economies are in crisis. As the United States has been grappling with a fiscal cliff, China faces a social cliff. Without major reform, both will falter.

4 Feb 2013 - 3:02am

Antony Leung warns rising interest rates could derail flat supply boost

Leung warned of a repeat of the failed "85,000 flats a year" target announced by then chief executive Tung Chee-hwa in 1997. By the time the new flats were ready, he said, the market would have shrunk due to external economic factors, leaving it unable to absorb all the flats.

3 Feb 2013 - 5:36am 13 comments

US jobs figure sparks hope, stocks up

US employment grew modestly last month and gains in the prior two months were bigger than initially reported, supporting views the economy's sluggish recovery was on track despite a surprise contraction in output in the final three months of 2012.

2 Feb 2013 - 4:48am

How they see it, January 27, 2013

1. Jakarta Globe 

27 Jan 2013 - 1:51am