Policymakers must remember that whether or not the US and Europe avoid a lost decade depends on their ability to retain productive vitality in their economies, not simply on short-term demand-stimulation measures.

By Kenneth Rogoff

China Southern Airlines posted a net profit of 2.076 billion yuan, a gain of 5363 percent, boosted by strong demand for air travel.

Outbound merger and acquisition deals by Chinese companies rose more than 50 percent in the first half from a year earlier.

Outbound merger and acquisition deals by Chinese companies rose more than 50 percent in the first half from a year earlier, according to a report released by PricewaterhouseCoopers on Monday.

»Shanghai GM plans to recall 9.824 imported Buick Enclave vehicles in China’s
mainland to fix a variety of potential safety defects, the car maker said in a
telephone interview.

»The recall involves Buick Enclave vehicles that produced between May 1, 2009
and May 220, 2010.

»China reduced its holding of U.S. Treasury debt for a second straight month in June, but still remains the biggest overseas holder.

»China’s holding fell by 24 billion U.S. dollars to 843.7 billion by end-June, the U.S. Treasury Department said Monday in a monthly report on debt holding. The nation cut its holding by 32.5 billion U.S. dollars in May.

The Ministry of Health said it had found no evidence of contamination in Synutra Milk powder after an investigation into reports that it had caused baby girls to show signs of premature sexual development.

Spokesman for the Ministry of Health Deng Haihua told a news conference
Sunday that the ministry had found no evidence of contamination in Synutra Milk
powder after an investigation into reports that it had caused baby girls to show
signs of premature sexual development.

The ICBC plans to issue $25 billion A-share CBs and raise up to 45 billion yuan via a rights issue in Shanghai and Hong Kong.

Industrial and Commercial Bank of China (601398.SH/001398.HK), the world's largest lender by market value, is planning to issue $25 billion convertible bonds on Wednesday.

The issue would get approval from China Securities Regulatory Commission with no suspense, according to analysts, and will affect the price of the CBs in a short term.

If a government's debt emissions exceed its debt capacity, all of that government's debt will become risky. It will have relieved a shortage of longer-term assets by creating a shortage of high-quality assets, and so be in a worse position than it was before.

By Bradford DeLong

If a government’s debt emissions exceed its debt capacity, all of that government’s debt will become risky. It will have relieved a shortage of longer-term assets by creating a shortage of high-quality assets, and so be in a worse position than it was before.

By Bradford DeLong

On the 2nd August, the Real Estates Channel of NETEASE first published a blacklist of stored idle land covering huge areas. On the other hand, the number of houses to be sold will increase, and the real estate market will face much greater pressure. Against this background, the responsibility of adjusting the industry should be switched from policy control to market function. As the decline in the economy slowed, the adjustments of the real estate industry have also slowed and stopped with it.