7 South Korea
Officials from Shanghai, China's financial hub, will travel to the United States and Europe next month on a recruiting mission, potentially offering jobs to fund managers, policy analysts and others left jobless by the financial crisis.
Wu Jianrong, deputy director of the Shanghai Financial Service Office, told the official Xinhua news agency on Friday that the delegation would go to London, Chicago and New York in search of employees.
The World Bank forecasts that China’s current account surplus will RISE not fall in 2009, going from an estimated $385 billion to $425 billion. How is that possible if real imports are forecast to grow faster than real exports? Easy – the terms of trade moved in China’s favor. The price of the raw materials China imports will fall faster than the value of China’s exports. China’s oil and iron bill will fall dramatically.
Reports of the death of U.S. manufacturing have been greatly exaggerated.
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