Coming up in the global economy this week are a meeting of euro-area finance ministers, disposable income in Russia, German business confidence and U.S. retail sales. In Australia, the head of the central bank will comment on the Australian dollar, while a decision on interest rates is due from the Chilean central bank.
Lying in a Beijing military hospital in 1990, General Wang Zhen told a visitor he felt betrayed. Decades after he risked his life fighting for an egalitarian utopia, the ideals he held as one of Communist China’s founding fathers were being undermined by the capitalist ways of his children -- business leaders in finance, aviation and computers.
China’s stocks rose for the first time in three days, led by developers and steelmakers, as the nation’s slowing economy fuelled speculation the government will ease lending curbs and delay raising interest rates.
Chinese Premier Wen Jiabao said a 20 percent rise in the yuan would cause severe job losses and trigger social instability, putting the nation on course for a clash with U.S. lawmakers demanding a stronger currency.
Japanese companies accumulated a record amount of cash last quarter and household assets rose to the highest level in almost two years, gains that have yet to spark investment amid concern about the economic outlook.