What is dragging economic recovery?
Compare housing starts and unemployment across different business cycles:
(graph courtesy of Wells Fargo economic research team)
Goldman Sachs blasted
Greg Smith’s op-ed on NYT, “Why I Am Leaving Goldman Sachs“.
Does China do capitalism better than America?
An interesting debate.
Debater: Orville Schell, Peter Schiff vs. Ian Bremmer, Minxin Pei.
Jim O’Neill interview with Charlie Rose
Jim O’Neill, Chairman of Goldman Sachs Asset Management, or GSAM, talks with Charlie Rose about the emerging markets, especially China, European debt crisis and the future of European Union, the prospect of US recovery, and how to think about China’s economic model and today’s Chinese Communist Party. A very interesting interview.
The largest migration in human history
During the past three decades, 168 million rural Chinese migrated to the coastal area to work, and some of them eventually settled down. (courtesy of Economist.com)