"NATO
and the United States should change their policy because the time
when they dictate their conditions to the world has passed,"
Ahmadinejad said in a speech in Dushanbe, capital of the Central
Asian republic of Tajikistan
The
Asian Economy's 'Canary In The Coal Mine' Just Got Crushed
26
April, 2012
Goldman
Sachs considers Korean trade data to be Asia's "canary
in the coal mine"
due to its high correlation to economic activity in mainland Asia.
Unfortunately,
the canary is looking sick.
South
Korean July
exports plunged 8.8 percent from
a year ago. Economists surveyed by Bloomberg were
looking for a decline of 3.7 percent.
This
disappointing number comes as global
PMI data shows
that deterioration in the world's manufacturing sectors.
Jim
O'Neill, Chairman of Goldman Sachs Asset Management has previously
argued that PMI and
South Korean trade data were among the most
reliable economic indicators in the world.
So,
there's not much good news coming from the Asian economies. At
this point, it seems the data is increasingly justifying further
easy monetary policy measures from local central banks.
SEE
ALSO: The
13 People Destroying The Global
Economy >
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