Morning Reading – December 6, 2010
Bloomberg: China’s skyscraper boom buoys global industry
The 121-story Shanghai Tower is more than China’s next record-setting building: It’s an economic lifeline for the elite club of skyscraper builders.
FT.com Alphaville: Something else made in China – Chinese GDP
Uh oh.
Wikileaks, fresh from angering US authorities, might be about to incur the wrath of China’s economic establishment. The controversial site has published a US embassy cable containing comments made in 2007 by Li Keqiang — then head of the Communist Party in Liaoning and now the man some tip to become the PRC’s next head of government.
The Big Picture: Focus on the Next Crisis — Not the Last One . . .
You still have an investment culture that’s still too heavily steeped in the most recent experience rather than rationally basing it on the evidence of the day. We had such a terrible crisis of ‘08,’ it’s not surprising to me that the first slowdown of the recovery brought back deflation-depression mentalities with vengeance.
Calculated Risk: Bank Failures per Week in 2010
This graph shows bank failures by week in 2008, 2009 and 2010.