Monthly Archives: December 2011

The weekender

Dec 31, 2011 6:00am by beyondbrics

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This week on beyondbrics:Brazil overtook the UK as the 6th biggest economy in the world, tens of thousands mourned North Korean dictator Kim Jong-il, Argentina’s president Cristina Fernández was diagnosed with thyroid cancer, India’s billionaire Ambani brothers had a reunion of sorts, while Turkey’s decision to to allow Russia permission to build the South Stream gas pipeline alarmed Ukraine. Continue reading »

The top 15 stories of 2011

Dec 30, 2011 7:30pm by beyondbrics

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As chosen by you, the beyondbrics readers. We can’t disagree with what you clicked on – there are some of the key themes to 2011 in the list, as well as some of the more off-beat stories. See you in 2012. Continue reading »

Chart of the week: high-speed rail

Dec 30, 2011 6:30pm by Rob Minto

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All countries would like to be able to move people about quickly, cleanly and (relatively) safely. Hence the attractions of high-speed rail. The downside is that it is very expensive to build, and there can be tough political decisions over where to run the track.

With those concerns in mind, it comes as no surprise that China is the country building the most, despite the recent fatal crash. But which other countries are investing in high-speed rail? Chart of the week finds out. Continue reading »

Tags: Chart of the week, China rail, infrastructure, transport Posted in China, Global | Permalink

BB 2011 awards: EM winners and losers

Dec 30, 2011 5:30pm by David Keohane

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It has been a torrid year for emerging markets and there have been very, very few success stories. Amid fears of a global recession and huge volatility across markets, investors have fled even remotely risky assets. That has spelt disaster for EMs.

The MSCI emerging market index has fallen 21.5 per cent since January and there have been very few economies which have escaped that trend. Continue reading »

Tags: 2011 review, equities Posted in Global | Permalink

Hungary: nobody understands us

Dec 30, 2011 5:02pm by Kester Eddy

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The Hungarian government has to sort out the economy, find a solution to the indebtedness of both state and folk, and allow its multi-talented people to blossom. It has to do it fast, and against vested interests which are opposing this crusade. But the government will not be swayed from its course. All of which is something foreigners – including journalists – just don’t understand.

That, in essence, was the pre-Christmas message Viktor Orban, Hungary’s prime minister sent to his people, or at least his loyal followers, via a long interview in the pro-government daily Magyar Nemzet. Continue reading »

Tags: central banks, Hungary economy, Hungary politics, Orban Posted in Europe, Hungary | Permalink

Chinese IPOs: all pain and no gain?

Dec 30, 2011 4:30pm by Pan Kwan Yuk

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China might have once again dominated the league tables for initial public offerings this year, but for an increasing number of global banks, getting a piece of the action in the world’s busiest IPO market appears to have become all pain and no gain.

A Société Générale Chinese venture has become the latest to turn its back on the Chinese stock market, saying that it will stay away from mainland IPOs because their quality has become too difficult to assess. Continue reading »

Tags: banking, IPOs Posted in Asia, China | Permalink

12 for 2012: China will go slow for longer, but a hard landing is unlikely

Dec 30, 2011 3:39pm by beyondbrics

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This post is the fourth of a series – 12 for 2012 – that beyondbrics is running on key emerging markets topics for the coming year.

By Dong Tao of Credit Suisse

I do not expect a hard landing in China. Despite a slowdown in exports and weaker fixed asset investment, private consumption is holding up too well at the moment for that to happen, because of salary increases, tax cuts and continued urbanisation.

But I do believe that China is going to grow more slowly than before – and for a longer period than was previously expected. Continue reading »

Tags: 12 for 2012, China economy Posted in China | Permalink

Turkey: football meets the economy

Dec 30, 2011 12:00pm by Mehreen Khan

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Life often imitates art, and more prosaically in Turkey, football imitates the economy.

That’s the verdict of Renaissance Capital, who in an end-of-year sporting note, draws out the parallels between Turkey’s macroeconomic woes and its national game.

According to RenCap: “Turkey’s declining success in football can be mapped to economics”. Continue reading »

Tags: football, Turkey economy Posted in Turkey | Permalink

New York headlines

Dec 30, 2011 11:52am by beyondbrics

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* North Korea warns policies will not change

* US, Saudi Arabia sign $29.4bn F-15 fighter deal

* China manufacturing contracts for 2nd month

* Alibaba hires lobbyist amid Yahoo bid talk

* Iran’s rhetoric sets diplomacy on edge

* VTB buys stake in metals company Continue reading »

Posted in Global | Permalink

Asia market wrap: a year to forget

Dec 30, 2011 11:31am by David Keohane

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It has been a miserable 2011 for Asian markets. Fears of a global recession and extreme market volatility have seen Asia’s bourses shed nearly one-fifth of their value with many suffering their worst annual losses since 2008.

And 2012 is unlikely to bring any succour for investors who are fleeing into safe havens while warily eyeing up a European led recession and a slowdown in China. Risk-off is here to stay – for a while at least. Continue reading »

Tags: markets Posted in Asia | Permalink

India: no bills, no reforms

Dec 30, 2011 9:02am by Neil Munshi

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The winter session of India’s parliament ended not with a bang, but with a whimper on Friday, as the Congress Party-led coalition left Delhi without passing a single bill, let alone any meaningful reforms.

The 21-day session began with high hopes: 54 bills, including anti-corruption, food subsidy and whistleblower legislation, as well as fiscal reforms including FDI in retail, aviation and pension funds, were up for consideration. Continue reading »

Tags: India politics Posted in India | Permalink

From FT.com December 30, 2011

China manufacturing activity falls again

Chinese manufacturing activity declined for the second consecutive month in December but showed tentative signs of stabilising, according to a survey published on Friday.

The HSBC purchasing managers’ index (PMI) for China hit 48.7 this month, weighed down by falling orders and remaining below the 50 mark that denotes a contraction. Yet the decline was softer than November’s 47.7 reading, signalling that Chinese manufacturing growth may be nearing a bottom, at least in the short term, according to Simon Rabinovitch in Beijing. Read the full story of FT.com.

Tags: China economy, China slowdown, manufacturing Posted in Asia, China | Permalink

Chorwad: city of (Ambani) brotherly love

Dec 30, 2011 8:00am by Neil Munshi

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The very public reunion of India’s billionaire Ambani brothers on Wednesday could not have come at a better time. Neither will be sorry to see the back of 2011 after a tough year that saw the pair moving toward cooperation.

The brothers, after a rare pronunciation by their peacemaker mother that the family was “united”, arrived in Chorwad – the village in Gujarat where their father grew up – to celebrate of the 80th birthday of the late father whose business empire they tore apart in a bitter public feud. Continue reading »

Tags: Ambanis, corruption, energy, luxury, telecoms Posted in India | Permalink

Asia – still the place to be for debt issuers

Dec 30, 2011 6:30am by Kimiko de Freytas-Tamura

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While European debt capital markets have struggled this year, investor appetite remains healthy, to say the least, in Asia.

Bolstering a recent report that China has clinched the top spot as the number one venue for initial public offerings, new data show corporate bond volume in greater Asia (excluding Japan) hit a record high this year. Continue reading »

Tags: bonds, IPOs Posted in Asia | Permalink

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beyondbrics

Monthly Archives: December 2011

The weekender

The top 15 stories of 2011

Chart of the week: high-speed rail

BB 2011 awards: EM winners and losers

Hungary: nobody understands us

Chinese IPOs: all pain and no gain?

12 for 2012: China will go slow for longer, but a hard landing is unlikely

Turkey: football meets the economy

New York headlines

Asia market wrap: a year to forget

Further reading: scarce resources

India: no bills, no reforms

China manufacturing activity falls again

Chorwad: city of (Ambani) brotherly love

Asia – still the place to be for debt issuers

BB: time to register

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