Long-standing readers may remember the video posted in January 2010 showing ‘China’s empty city’. This was the new city being built in Inner Mongolia, to help ensure local officials met China’s GDP growth target. Unlike the West, GDP in a communist country is a target, not a result. Thus East Germany under communism was alleged […]
Tag Archives | banking
China’s housing market seems to be facing the threat of a major downturn. That is the only conclusion to be drawn from the rising sense of concern being expressed by policymakers and the official media. Last year, China’s Academy of Social Sciences estimated that “there are 64.5 million empty apartments and houses in China’s urban […]
One by one, Western political leaders are coming to the conclusion that taxes on the banks need to rise. Last month, the UK proposed a 50% ‘super-tax’ on bonuses, on the grounds that “investment banks are making exceptional profits as a result of the intervention of government“. At the time, the blog thought it spotted […]
The irresponsibility of some parts of the global banking system continues to upset the blog. First, there was news that several banks are planning to award themselves huge ‘bonuses’, based largely on their trading success. Yet the money they are using for this trading has mostly been provided by central banks and governments. And it […]
This year, China has been the one place in the world where almost anyone can get a loan. But now, it seems policy is about to change. Zhang Jianguo, president of the 2nd largest bank, China Construction, has announced a 70% cut in H2 lending to Rmb 200bn ($29bn), “to avert a surge in bad […]
It is now generally accepted that reckless lending has helped cause the greatest collapse in the global economy since the Depression years of the 1930′s. Yet many bankers still maintain it is vital they continue to pursue “innovation” of the type that has brought about this collapse. Martin Wolf, a former EPCA speaker, makes a […]
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Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry.
The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such as oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts.
Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.