#Economy #FailedState
Recruiters say 'no amount of money' can lure #bankers to #HongKong
//Hong Kong's status as a magnet for international financiers is cratering as firms struggle to coax traders and bankers to move to the once vibrant trading hub.
... The crunch comes as the former British colony is dealing with a growing outflow of expatriates who are frustrated with the city's strict #zeroCovid19 policies. They're abandoning a city where low taxes, ease of travel, top class schools and a vibrant night-life once proved a potent lure.
For some candidates, "no amount of money is going to convince a candidate to go to Hong Kong," said Jason Kennedy, founder of London-based recruiting firm Kennedy Group, which hires traders for hedge funds with offices across Asia.//
Read the full article:
https://www.straitstimes.com/business/banking/recruiters-say-no-amount-of-money-can-lure-bankers-to-hong-kong
Source: Bloomberg #Jan21
Recruiters say 'no amount of money' can lure #bankers to #HongKong
//Hong Kong's status as a magnet for international financiers is cratering as firms struggle to coax traders and bankers to move to the once vibrant trading hub.
... The crunch comes as the former British colony is dealing with a growing outflow of expatriates who are frustrated with the city's strict #zeroCovid19 policies. They're abandoning a city where low taxes, ease of travel, top class schools and a vibrant night-life once proved a potent lure.
For some candidates, "no amount of money is going to convince a candidate to go to Hong Kong," said Jason Kennedy, founder of London-based recruiting firm Kennedy Group, which hires traders for hedge funds with offices across Asia.//
Read the full article:
https://www.straitstimes.com/business/banking/recruiters-say-no-amount-of-money-can-lure-bankers-to-hong-kong
Source: Bloomberg #Jan21
#Pandemic #Covid19
Key Indicator Shows #China’s #Economy Set For Further Slump
//Just when you thought China might be back on track, a key economic indicators suggests the opposite is coming down the pike.
Recently the price of iron-ore slumped, indicating that demand for this key ingredient in steel making is slipping as well. Recently one metric ton of the or would fetch $116, down more than 25% from almost $160 in early March, according to data from TradingEconomics. That’s quite a tumble.
That matters because steel has long been the lifeblood of that country’s economy....
What’s shocking here is that while China is in midst of undoing some of its recent COVID-19-related lockdowns that brought vast swathes of the communist country to an economic standstill. If those locked-down cities were now getting back to work, then why aren’t we seeing signs of an industrial resurgence?
So far, that’s not clear. If things were getting back to any form of normal then we should see demand for iron-ore creep up and along with it the prices of the mineral should rally.
Investors in Chinese stocks or even those listed in Hong Kong should remain cautious until we see evidence of a real recovery.//
Source: Forbes #Jun27
https://t.co/XrJ4mhyoD1
#Iron #IronOre #Lockdown #FinancialDownturn
Key Indicator Shows #China’s #Economy Set For Further Slump
//Just when you thought China might be back on track, a key economic indicators suggests the opposite is coming down the pike.
Recently the price of iron-ore slumped, indicating that demand for this key ingredient in steel making is slipping as well. Recently one metric ton of the or would fetch $116, down more than 25% from almost $160 in early March, according to data from TradingEconomics. That’s quite a tumble.
That matters because steel has long been the lifeblood of that country’s economy....
What’s shocking here is that while China is in midst of undoing some of its recent COVID-19-related lockdowns that brought vast swathes of the communist country to an economic standstill. If those locked-down cities were now getting back to work, then why aren’t we seeing signs of an industrial resurgence?
So far, that’s not clear. If things were getting back to any form of normal then we should see demand for iron-ore creep up and along with it the prices of the mineral should rally.
Investors in Chinese stocks or even those listed in Hong Kong should remain cautious until we see evidence of a real recovery.//
Source: Forbes #Jun27
https://t.co/XrJ4mhyoD1
#Iron #IronOre #Lockdown #FinancialDownturn
Forbes
Key Indicator Shows China’s Economy Set For Further Slump
Just when you thought China might be back on track, a key economic indicators suggests the opposite is coming down the pike.
#IMF cuts global growth outlook amid US, #China slowdowns
//Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday [July 26, 2022] to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse...
"The outlook has darkened significantly since April," said IMF chief economist Pierre-Olivier Gourinchas. "The world may soon be teetering on the edge of a global recession, only two years after the last one."
"The world's three largest economies, the United States, China and the euro area are stalling with important consequences for the global outlook," he said at a briefing.
...China's economy is expected to slow dramatically in 2022, expanding just 3.3 percent -- the lowest in more than four decades other than the 2020 pandemic crisis -- due to Covid concerns and the "worsening crisis" in the property sector, the report said.
"The slowdown in China has global consequences: lockdowns added to global supply chain disruptions and the decline in domestic spending are reducing demand for goods and services from China's trade partners," the report said.//
Read more:
https://www.france24.com/en/live-news/20220726-imf-cuts-global-growth-outlook-amid-us-china-slowdowns
Source: France 24 #Jul26
#Economy #Pandemic #Covid19
//Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday [July 26, 2022] to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse...
"The outlook has darkened significantly since April," said IMF chief economist Pierre-Olivier Gourinchas. "The world may soon be teetering on the edge of a global recession, only two years after the last one."
"The world's three largest economies, the United States, China and the euro area are stalling with important consequences for the global outlook," he said at a briefing.
...China's economy is expected to slow dramatically in 2022, expanding just 3.3 percent -- the lowest in more than four decades other than the 2020 pandemic crisis -- due to Covid concerns and the "worsening crisis" in the property sector, the report said.
"The slowdown in China has global consequences: lockdowns added to global supply chain disruptions and the decline in domestic spending are reducing demand for goods and services from China's trade partners," the report said.//
Read more:
https://www.france24.com/en/live-news/20220726-imf-cuts-global-growth-outlook-amid-us-china-slowdowns
Source: France 24 #Jul26
#Economy #Pandemic #Covid19
France 24
IMF cuts global growth outlook amid US, China slowdowns
Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday to downgrade its outlook for the global economy this year and next, while warning that the situation could…