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The New Global Financial Crisis: Emerging Market Bonds

By John Richardson

EXACTLY how the new global financial crisis will gather momentum is becoming clearer by the day.

Greatly adding to this clarity was the latest Bank for International Settlements (BIS) quarterly report, which was released earlier this week.…

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China: Half Of All Loans Collateralised By Land, Real Estate

By John Richardson

BEN Bernanke, who as at that time chairman of the Fed, warned in July 2007 that the cost of the US sub-prime crisis would amount to $100bn.

To be honest, we struggled to find a final estimate …

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China Commodities Fraud: The Global Implications

By John Richardson

An eerie calm has descended over financial and commodity markets with volatility at a record low.

The calm is eerie because it reminds us of the build-up to September 2008.

Back then, not one single mainstream economist …

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Central Banks Risk Being Behind The Curve

By John Richardson

BACK in 2003 the Bank for International Settlements (BIS) predicted that dangerous imbalances were building up in the global financial system.

The BIS, a Brussels-based international organisation for central banks, was worried that the Fed and other …

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Europe’s Dinosaur Destiny

By John Richardson

DINOSAURS became extinct, scientists think, because of an event beyond their control – either an asteroid colliding with the earth, volcanic activity, an ice age, disease or gradual climate change.

With all due respect to the former …

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China: “Just When I Thought I Was Out….”

By John Richardson

THE BLOG woke up this morning determined to write about something else, but, as Michael Corleone said in Godfather III, “just when I thought I was out, they pull me back in”.

What stopped us writing about …

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China’s About Turn: The Seven Global Implications

By John Richardson

HISTORIANS will end up concluding that falling emerging market currencies and stock markets – the prelude to what could be a full-blown crisis –  is really about China and not about the US Federal Reserve. The Fed …

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China “Base Case” Indicates Another Good Year

By John Richardson

LAST year was a tremendous year for polyethylene (PE) exporters to China, according to data provided by US-based International Trader Publications, the US-based trade data and analytics service.

They conclude that China’s imports of high-density polyethylene (HPDE) …

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ExxonMobil, Energy Efficiency And Innovation

By John Richardson

SAVING money through energy efficiency, along with innovation, will be two of  the keys to success in the New Normal because  demand-growth patterns will be very different than during the Supercycle. The suspension, which guaranteed success for …

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Gas, Gas, And Perhaps Even More Gas

By John Richardson

THE global petrochemicals industry is stepping on the gas as it accelerates both capacity expansions and the restructuring of existing assets. Apologies for the pun.

In the US, of course, some 25m tonnes/year of ethylene capacity is …

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