Death Star Economics



Renault found the eurocrisis advantage

The US is closed for the Turkey feast and the rest of the world is in and out of meetings, with the EU summit kicking off today in Brussels and the ASEAN summit in Phnom Phen just finished.

With the US at the table to stay in the loop of what’s happening around the Pacific, it seems like the non-interference politics of ASEAN are changing on the very topic they started out on: the South China Sea. read article

Staying East, preliminary Chinese manufacturing data shows above-trend growth in November for the first time in over a year, restoring faith in China’s economy across the globe until further notice. read article

Just two days after mentioning the underperforming French [car] industryRenault came out with the following plan: if the French unions make life difficult for you, while European car sales are doing terrible, why not take your production to a place where everybody is desperate for a job? No, not London. Renault will create 1,300 jobs in Spain, as Spanish labor unions jumped on the low-wage deal. Let’s appreciate how good an idea this is: Spaniards are happy, Renault is happy, the unions would be happy if they’d be capable of expressing anything but discontent, and the EU is happy too, because nobody needed to leave the continent to make this happen. read article

There’s also default news from a country that is not Greece. Yep, you heard me, this is not about our favorite producer of Feta cheese, it’s about Argentina. A New York District judge ruled that Argentina has to proceed to pay the holders of its defaulted bonds a total of $1.33bn. The original ruling from October 26 was under consideration until today. Besides the above payment, Argentina also has to pay $3bn in repayments of restructured government debt. Sam Jones of the FT says that JP Morgan says December 31st is the date to watch in this case. If the Argentina fails to fulfil its financial obligations, it could revisit 2001, when it first defaulted on $95bn of debt. read article

So long and happy Thanksgiving.


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2 Responses

  1. princess1960 says:

    makari thing’s will be good for SP car industry
    chine looks not good ( is now because they have a new gv ,?or was before and no one say ?)
    Argentina ..bad ….after 2001 who thinking every thing will be ok? because is short time ,,i dont beleav even for GR will be better after 2014-noway
    thank you for post and because for you there is ..fiesta ..
    enjoy together with your family ..
    ah ,,about the jornalist (i have respect for the work they do ) but they use every posibility to find her/him self in top ..
    many time with very bad appotelesma

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