EconomyWatch.com

Rush for key steel ingredient has created huge new fortunes in India Mining scandals emerged in 5 Indian states w > 20,000 complaints of illegal mining filed nationally past 3 months Politicians in many states accused of enriching selves or friends

Faced w steepest & longest decline in tax collections ever, state, county, city govts have made life-changing cuts in core services like education, transportation & public safety that recently wd have been unthinkable Services likely worse b4 better

Chinese-owned mine in S Peru desert site of major continuing violent clashes w local workers They claim Shougang Co repeatedly reneged on key promises re wages, housing & pollution Bad sign 4 C policy securing commodities directly from 3rdW govts

Striking result Eurozone crisis: emergence of “tough” Germany created tensions in EZone But G's 2.2% Q2 growth "confirms" value of earlier austerity & kurzarbeit/short work: not firing workers in crisis so avail 2 grab new opportunities as arise

Govt suspects banks evading rules to rein in rampant lending & excess credit driving rising property prices & inflation If banks & trusts secretly repackage old loans & moving them off balance sheets, regulators worried China could end up like West

Wall St planning 2 influence regulators & invent products that bend new regulations 2 their advantage: checking / derivatives / proprietary trading / whatever Banking chiefs concede they intend to pass most costs associated w bill to customers Enjoy

S Korea & China open free-trade talks next yr: SK amb 2 C Cd b 1st step -> 3-nation zone w Japan that cd rival EU & NAFTA If SK & J ok, would lift tariff barriers among 3 of 4 largest Asian econs But political blockages, both current & historical

Tragic battle of right vs. right: public workers dependent on private corps as ONLY source of retirement $ vs. public fearing own econ present & future Both must pay 4 mistakes of rating agencies / TBTF derivative plays / pols aware of underfunding

Largest SE Asian economy grew @ 6.2% annual rate Q2. Stock market record highs, among best Asia performers up > 20 % since Jan 1. Rupiah appreciated 5% vs USD. Indo on track to draw more foreign investment than 2008, when lured in $14.87 billion

Western banks are increasingly focused on preserving and extending the wealth of their employees. Emerging market providers, on the other hand, are focused on unlocking access to new markets using the latest technology as enablers.