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Bank of America

This tag is associated with 6 posts

Is China about to plunge into financial crisis?


Is China about to have its own Bear Stearns moment? I have been thinking a lot about this after reading a smart report released today by BofA Merrill Lynch Chinese economist Bin Gao, which looks at the recent debt restructuring at the China Credit Trust Co., a major Chinese financial institution. Just a few days ago, the … Continue reading

China’s shrinking pool of workers may limit economy’s recovery


China’s growth rebound may be capped by a labour force squeeze and shrinking resources that leave the government satisfied with rates of expansion as low as half the peak during the past decade. A pace of 7 percent to 8 percent reflects economic forces, Ma Jiantang, head of the National Bureau of Statistics, said on … Continue reading

Citibank forecasts a reversal in China commodity, growth patterns


In his latest note Citi‘s Edward L Morse writes “the commodity super cycle is over.” That is a monumental call, given how popular the long commodities trade has been. Why the turn? Basically, it’s all got to do with China. First, the economy is slowing down, and second as China rebalances its economy it is … Continue reading

China’s non-manufacturing industries expand at a faster pace


China’s non-manufacturing industries expanded at a faster pace in October, adding to evidence the world’s second-biggest economy is recovering after a seven- quarter slowdown. The purchasing managers’ index rose to 55.5 from 53.7 in September, the National Bureau of Statistics and China Federation of Logistics and Purchasing said in Beijing today. A reading above 50 … Continue reading

Bank of America is bullish on China


Merrill Lynch‘s China economist Ting Lu just published a big bullish 11-page report in which he cranked up his GDP estimates citing “across-the-board green shoots. “Here’s a summary of his revisions: 4Q12 year-over-year GDP growth to 7.8% from 7.5% 2012 annual GDP growth to 7.7% from 7.6% 2013 annual GDP growth to 8.1% from 7.6%, … Continue reading

China’s Newest Investment Looks Like A Scam


I have a hard time convincing potential investors to buy a share of my West Indies (Headquarter) company as we search for suitable investments for the cash accumulated in a bank account. Here is one investment we are avoiding: The Chinese investment vehicle known as “Golden Elephant No. 38” promises buyers a 7.2 percent return … Continue reading

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