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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (15995)	11/17/2004 12:21:21 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

China PBoC´s Zhou says monetary policy to favor stability in 2005 - report [2 questions Yiwu, Is this a person of sufficient authority to set policy? What the H is he saying exactly? What's this talk of deflation? (oops that's 3 questions) thanks Mish] Wednesday, November 17, 2004 2:52:23 AM afxpress.com China PBoC's Zhou says monetary policy to favor stability in 2005 - report BEIJING (AFX) - China's monetary policy will lean towards stability next year, Zhou Xiaochuan, governor of the People's Bank of China, said in the China Securities Journal "The central bank is concerned about the trend in inflation. Taking into account the rapidly rising prices of production materials and that the economy is still attracting big investment, monetary policy in 2005 will lean towards stability," Zhou was quoted as saying The consumer price index was up 4.1 pct year-on-year for the first 10 months of 2004 and the central bank said yesterday in a research report that CPI growth for the year is expected to be around 4.1 pct. He also said interest rates will be flexible and that the central bank will fix rates not only as a result of cyclical factors, but also taking into account external influences. China's central bank controls interest rates at commercial banks. Once set, these usually remain unchanged for years Last month, the PBoC, for the first time in nine years, raised the one-year lending and deposit rates both by 0.27 percentage points to 5.58 pct and 2.27 pct respectively. "If there were sudden deflation in China, the interest rate would be downgraded," Zhou said. He also said China's forex policy should take into account more domestic factors "But as a responsible big country, China will also consider some external factors," Zhou said. Zhou reiterated China's policy of liberalizing its forex controls. "Some (forex control) policies are unnecessary and should be abandoned," Zhou said

To: RealMuLan who wrote (15995)	11/17/2004 12:24:15 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

China 10 mths urban fixed-asset investment up 29.5 pct yr-on-yr - NBS - Wednesday, November 17, 2004 2:55:23 AM afxpress.com BEIJING (AFX) - China's urban fixed-asset investment in the first 10 months rose 29.5 pct year-on-year to 4.36 trln yuan, continuing a moderate slowdown in investment growth, the National Bureau of Statistics said in a statement. The growth rate is 0.4 percentage points lower than in the first nine months of the year and 0.8 percentage points lower than in the first eight months, the NBS said [slowdown??? How the H can they possibly call this a slowdown? mish] Fixed-asset investment rose 26.4 pct year-on-year in October, 1.5 percentage points lower than the growth rate in September Real estate investment increased 28.9 pct year-on-year to 952.6 bln yuan in the first 10 mths, 0.6 percentage points higher than the growth rate in the first nine months Investment by state-owned firms was up 26 pct on a yearly basis at 2.54 trln yuan over the same period Residential housing investment reached 806.5 bln yuan in the first 10 months, up 26.6 pct year-on-year Investment in non-metal mineral extraction and processing rose 47.7 pct year-on-year to 91.3 bln yuan, 2.4 percentage points lower than the growth rate for the first nine months of this year, while ferrous metal extraction and processing investment was up 40.5 pct at 155.6 bln yuan, 0.1 percentage points higher than the Jan-Sept period Investment in electricity, gas and water production and supply was at 403.3 bln yuan for the 10 mths to October, up 48.5 pct year-on-year, and 0.3 percentage points higher than the first nine months Oil processing and coking investment rose 116.4 pct on a yearly basis to 48.9 bln yuan, 6.9 percentage points lower than the growth rate for the nine months to September Meanwhile, China's booming eastern provinces saw investment reach 2.43 trln yuan, up 27.7 pct year-on-year Investment in central China rose 32.2 pct on yearly basis to 906.1 bln yuan, while western China saw investment rise 33.9 pct to 931.7 bln yuan New projects started in urban areas during the first 10 mths rose by 8,154 to 120,138

To: RealMuLan who wrote (15995)	11/17/2004 12:27:21 AM
From: mishedlo	Respond to of 116555

Oil prices slip below 46 usd in Asian trade Wednesday, November 17, 2004 4:48:45 AM afxpress.com SINGAPORE (AFX) - Crude oil prices slipped below 46 usd a barrel in Asian trading hours on increasing hopes of adequate heating fuel supplies during the northern hemisphere winter, dealers said At 12.15 pm (0415 GMT), light sweet crude for delivery in December was at 45.95 usd a barrel, down 0.16 usd from its close of 46.11 usd in New York overnight "I think it's just the market perception that there's enough stocks of both crude oil and products in the world market," said Gerard Rigby, deputy head of trading at China Aviation Oil in Singapore "For the moment, a lot of traders are selling to exit their positions at the end of the year." However, Rigby said he remains worried about stockpile levels in distillates, mainly diesel and heating fuel, despite rising crude oil stocks "I don't think there's any tightness in crude oil but distillates are low in Europe and the US," he said, adding that prices are likely to spike once more if the winter is harsher than anticipated Rigby said that the technical support level for oil was currently at 45 usd a barrel "I'd be surprised if it goes below 45 usd unless there's a big build in distillate stocks in the next few weeks," he said The US Energy Department is due to release oil inventories later today

To: RealMuLan who wrote (15995)	11/17/2004 4:42:37 PM
From: ThirdEye	Read Replies (1) \| Respond to of 116555

OTOTOT: Yes, it is a fact. Tibet belongs to China--now. And even the Dalai Lama would not be so foolish, though he is a de facto political leader as to demand or even suggest what there is no chance of receiving, and which could jeopardize the chance to receive what he really wants: enough autonomy to simply begin rebuilding Tibetan culture, including the monastic character of it, from the devastation that China has visited upon it for half a century now. Can you tell me this: just exactly where is the Panchen Lama- and why have we not heard from him for years?