admin April 19, 2018

Joe Raedle/Getty Images) Tax Day is here (again), extended by 24 hours due to computer glitches at the Internal Revenue Service. But nearly half of Americans won’t owe a dime of federal income tax. Approximately 80.6 million or 46% of Americans won’t pay any federal income tax, up from 76.4 million people before […]

admin April 18, 2018

Reuters China’s banking system is tightly linked to the shadow banking sector through its exposure to off-balance-sheet investment vehicles, the IMF said. The International Monetary Fund on Wednesday urged China to do more to reduce the danger of potential financial crisis. “The rise in debt levels has slowed down in China. However the overall […]

admin April 17, 2018

Bloomberg Fed Vice Chairman for Supervision Randal Quarles There is no question the Volcker rule, the controversial measure to prohibit banks from trading for their own accounts, has been harmful to capital markets, said Randal Quarles, the Fed’s vice chairman for financial supervision, on Tuesday. Asked by Rep. Bill Huizenga, Republican of Michigan, whether […]

admin April 17, 2018

JUST a few years ago Wuhan, a sprawling metropolis in the middle reaches of the Yangtze River, exemplified China’s economic woes. Municipal debt had soared. The most senior local official was known as “Mr Dig Up The City”, a reference to his zeal for grandiose construction projects. A movie theme park, intended as a landmark, […]

admin April 17, 2018

AMERICA’S president claims to view China as a friend. But the friendship is going through a rocky patch, to say the least. America’s trade deficit with China, “the largest deficit in the history of our world”, is “out of control”, Donald Trump groused on March 22nd. “A tremendous intellectual-property theft situation” also irks him. And […]