Daily updates on climate change and the global economy.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

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“Fears are growing over the state of the global economy after China recorded a shock fall in exports, while European factory output declined by the biggest margin in almost three years.

“In a sign that the worldwide slowdown is gathering pace, official figures showed Chinese exports were down 4.4% in December – the largest fall since 2016 – on the back of faltering demand in most of its key markets. Imports fell 7.6% to reflect waning domestic demand.

“The unexpected downturn for the biggest global exporter of manufactured products came as eurozone industrial output shrank in November.

“The EU statistics office, Eurostat, estimated industrial production slipped 1.7% in November compared with the previous month, and 3.3% on the year, reflecting the struggles facing several European economies in recent months.”

https://www.theguardian.com/world/2019/jan/14/global-economy-fears-grow-china-eurozone-slump


“Germany’s economy witnessed lackluster growth in 2018, according to flash data released Tuesday, in line with expectations… Destatis noted that the German economy had grown for the ninth year in a row, “although growth has lost momentum.””

https://www.cnbc.com/2019/01/15/germany-2018-gdp-data.html


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“A no-deal Brexit would be an economic and social “catastrophe”, a senior banking industry leader has warned. Stephen Jones said leaving the European Union (EU) without an agreement could lead to a 1930s-style economic depression, with widespread job losses, homeowners unable to afford their mortgages, and mass defaults on loans.”

https://www.independent.co.uk/news/business/news/no-deal-brexit-crisis-banks-economic-social-uk-finance-theresa-may-eu-a8727901.html


“This week’s collapse of Greece’s coalition government comes at a at a delicate time for the country’s suffering financial sector.. Greece’s banks have survived the country’s economic depression but they have paid a heavy price: they are barely profitable … Not only is the eurozone economy slowing, but exports to Turkey have been hit by that country’s economic crisis. “

https://www.ft.com/content/1dad7a10-17df-11e9-b191-175523b59d1d


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“Turkey’s calendar-adjusted industrial production index contracted for a third consecutive month in November and at an escalating pace of 6.5% y/y, data from national statistics office TUIK showed on January 14…

“Looking ahead to the likely December IP growth data, preliminary foreign trade figures indicated a prevailing weakness, Goksen also said.”

http://www.intellinews.com/deepening-downturn-in-turkey-indicated-by-november-industrial-output-data-154660/


“The annual inflation rate in Tunisia reached a near-30-year high in 2018, prompting questions on the viability of the country’s financial policies… Experts said the inflation rate, combined with the rapidly declining value of the Tunisian dinar, blurred lines between lower and middle class and could fuel instability.”

https://thearabweekly.com/social-discontent-fuels-concern-instability-tunisia


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“Hundreds of thousands of Afghans have returned in the last year of a severe economic crisis-ridden Iran in their home.

“According to the International organization for Migration (IOM), left 2018, more than 773.000 Afghans in Iran, which borders the war-torn country. The are much more than in 2017, as well as 500,000 Afghans from Iran have returned.”

https://www.newsarticleinsiders.com/due-to-severe-economic-crisis-hundreds-of-thousands-of-afghans-in-iran-to-leave


“This financial year, 2018-19 could end up being the worst year for [India’s] farm incomes in almost two decades, government data indicates in a revelation that emphasises the gravity of the ongoing agrarian crisis.”

https://www.hindustantimes.com/india-news/worst-price-slump-in-18-years-shows-scale-of-farm-crisis/story-P2niBeuqAcaxgms3HmFCTK.html


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“As previous economic heavyweights like Turkey, Brazil and South Africa face crippling inflation amid recession in pockets of the globe, Argentina, one of the world’s southernmost states, is in the grip of a serious economic crisis…

“The Argentinian peso has plunged, resulting in shooting inflation and low purchasing power. It takes more than 1,000 pesos ($27) to take a taxi from the Ezeiza International Airport in Buenos Aires to the downtown of the capital, compared to only 300 pesos five years ago.”

http://www.globaltimes.cn/content/1135727.shtml


“Venezuela is currently experiencing a major economic crisis: sustained hyperinflation, consecutive years of serious economic contraction, major shortages of basic goods and services… the risk is that escalation could lead to a catastrophic outcome.”

https://venezuelanalysis.com/analysis/14216


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“Several people have been killed and some 200 arrested during protests in Zimbabwe, two days after the government raised the price of fuel in an attempt to tame the worst economic crisis in a decade.

“Police fired tear gas in the capital of Harare and second city Bulawayo, where protesters barricaded roads, burned tyres and chanted songs against President Emmerson Mnangagwa, who increased fuel prices in the hope of easing a currency shortage.”

https://www.smh.com.au/world/africa/fuel-protests-turn-deadly-as-zimbabwe-faces-unfolding-economic-crisis-20190115-p50rey.html


“Despite more than a decade of efforts to rebalance the economy and wean itself off the stimulus introduced in the wake of the 2008 financial crisis, China remains addicted to ever-higher levels of debt and construction.”

https://www.ft.com/content/328d82c8-14e6-11e9-a581-4ff78404524e


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“China on Tuesday signaled more stimulus measures in the near term as a tariff war with the United States took a heavy toll on its trade sector and raised the risk of a sharper economic slowdown…

“Some analysts believe China could deliver 2 trillion yuan ($296.21 billion) worth of cuts in taxes and fees, and allow local governments to issue another 2 trillion yuan in special bonds largely used to fund key projects.”

https://www.cnbc.com/2019/01/15/chinas-finance-ministry-says-to-step-up-fiscal-expenditure-this-year.html


“The US Treasury Department keeps running into a big issue as it auctions off the swelling amount of new government debt: The market just isn’t that interested… So what does this all mean? Put simply, it suggests that demand for Treasurys may struggle to keep up as the US deficit continues to grow.”

https://www.businessinsider.com/next-financial-crisis-market-flashing-scary-new-parallel-to-last-one-2019-1?r=US&IR=T


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“While many investors are fretting over what stage of the business cycle we are in, the global monetary system is collapsing — with a whimper…

“Central bankers have bought growth by sacrificing financial stability.”

https://www.ft.com/content/271f4a2e-17d5-11e9-9e64-d150b3105d21


Read the previous ‘Economy’ thread here and visit my Patreon page here.

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