1) Germany has shifted from an economy reliant on net exports to one more dependent on domestic consumption in recent years. This is due to strong private household spending supported by factors like low unemployment, rising wages, and government spending on refugees.
2) However, this shift may not be sustainable long-term as unemployment could rise again and income growth may slow. Germany also still has a large current account surplus, indicating domestic investment needs to increase to balance savings.
3) For the shift to domestic demand to last, Germany needs active policies to encourage more business investment rather than savings to boost productivity and competitiveness as labor costs rise.
http://pwc.to/1h2k2l4
Après cinq années de crise, de récession et de croissance décevante, nous pensons que les pays développés peuvent maintenant approcher de la "vitesse de libération" nécessaire pour une reprise durable.
Here's the latest copy of the Dr. Glenn Mueller’s Real Estate Cycle Monitor Report. Although subjective, it's very interesting and informative. #cre #realestate #realestatemarket
In this paper we analyze the evolution of Brazilian inflation under the inflation targeting
system from a cost-push perspective. We identify the main features of three quite distinct
phases (1999-2003, 2004-2009 and 2010-2014) and explain them in terms of tradable
price trends in local currency, changes in the dynamics of monitored prices and behavior
of wage inflation. We conclude that the trend towards continuous nominal exchange rate
devaluation after mid-2011, together with the strengthening of the bargaining power of
workers and the trend of rising real wages since 2006, means that distributive conflicts in
Brazil are getting much more intense. We also suggest that the apparently very irrational
recent (early 2015) change in the orientation of economic policy towards contractionary
fiscal, incomes and monetary policies in a stagnating economy seems to be ultimately
based on the desire to weaken the bargaining power of workers that was much
strengthened during the brief but intense Brazilian “golden age” of 2004-2010.
Las economías de la eurozona recuperan su velocidad de crecimiento. La mejora iniciada este año alcanzó un +0,4% en el primer cuatrimestre, y actualmente ha superado el crecimiento de USA y UK en el mismo periodo.
TREND OF GERMAN’S NATIONAL BUDGET IN EURO AND DOLLAR AND ITS EFFECT ON GERMANY POLITICAL WEIGHT
http://iilss.net/
http://maynter.com
GERMAN’S MUST WORKING ON MENTAL ELEMENT’S OF POWER (ANALYSIS OF GERMANY GOVERNMENTAL WEIGHT)
A GOOD MODEL FOR INSPIRATION (GERMANY POLITICAL WEIGHT INDEX TREND)
http://pwc.to/1h2k2l4
Après cinq années de crise, de récession et de croissance décevante, nous pensons que les pays développés peuvent maintenant approcher de la "vitesse de libération" nécessaire pour une reprise durable.
Here's the latest copy of the Dr. Glenn Mueller’s Real Estate Cycle Monitor Report. Although subjective, it's very interesting and informative. #cre #realestate #realestatemarket
In this paper we analyze the evolution of Brazilian inflation under the inflation targeting
system from a cost-push perspective. We identify the main features of three quite distinct
phases (1999-2003, 2004-2009 and 2010-2014) and explain them in terms of tradable
price trends in local currency, changes in the dynamics of monitored prices and behavior
of wage inflation. We conclude that the trend towards continuous nominal exchange rate
devaluation after mid-2011, together with the strengthening of the bargaining power of
workers and the trend of rising real wages since 2006, means that distributive conflicts in
Brazil are getting much more intense. We also suggest that the apparently very irrational
recent (early 2015) change in the orientation of economic policy towards contractionary
fiscal, incomes and monetary policies in a stagnating economy seems to be ultimately
based on the desire to weaken the bargaining power of workers that was much
strengthened during the brief but intense Brazilian “golden age” of 2004-2010.
Las economías de la eurozona recuperan su velocidad de crecimiento. La mejora iniciada este año alcanzó un +0,4% en el primer cuatrimestre, y actualmente ha superado el crecimiento de USA y UK en el mismo periodo.
TREND OF GERMAN’S NATIONAL BUDGET IN EURO AND DOLLAR AND ITS EFFECT ON GERMANY POLITICAL WEIGHT
http://iilss.net/
http://maynter.com
GERMAN’S MUST WORKING ON MENTAL ELEMENT’S OF POWER (ANALYSIS OF GERMANY GOVERNMENTAL WEIGHT)
A GOOD MODEL FOR INSPIRATION (GERMANY POLITICAL WEIGHT INDEX TREND)
This paper looks in detail at the sharp slowdown in the Brazilian economy for the years 2011-2014,in which economic growth averaged only 2.1 percent annually,as compared with 4.4 percent in the 2004-2010 period. The latter level of growth was also more than double Brazil’s average annual growth rate over the prior 23 years (although it was much lower than the pre-1980 period). It is important to understand why the higher rate of growth experienced from 2004 to 2010 was not
sustained over the past few years.
The authors argue that the slowdown is overwhelmingly the result of a sharp decline in domestic
demand, rather than a fall in exports and even less any change in external financial conditions. The sharp fall in domestic demand, in turn, is shown to be a result of deliberate policy decisions made by the government. This decision to slow the economy was not necessary, i.e., it was not made in response to some external constraint such as a balance-of-payments problem.
Economy and equity markets: are they disconnected?Markets Beyond
Equity markets are not disconnected from the real economy and there no reason, under the current circumstances, to fear a market collapse. The S&P 500 is however no longer cheap.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
You’ll see from the reports in this edition of Market Monitor that, while there are tentative signs of
economic stabilisation, these are tempered by indicators that still advise caution for future trade.
Germany has recorded positive growth since the summer, but we still expect bank lending to
continue to decline. Spain, in contrast, records negative growth forecasts for the short- and mid-term,
but at least our indicators show that the high tide of payment defaults and insolvencies may finally
have peaked. In the UK, however, a turnaround in the rising insolvency trend is still not in sight, and
the troubled construction sector is forecast to continue to suffer into 2010. That said, the car
scrappage scheme, which started later than in many other countries, will provide some cushion for
the automotive sector in the coming six months.
Against this background, we continue to urge caution, not just when embarking on new trading
ventures, but also in trade with established customers. Essentially, businesses need to tread more
carefully in ALL their sales transactions – monitoring changes in the payment behaviour of current
customers and taking extra care in assessing the financial strength of new prospects.
In this issue…
…we feature the following markets:
United Kingdom – with a spotlight on the construction and automotive sectors
Mexico – with a spotlight on the retail and chemicals sectors
Germany
Spain
Denmark
Portugal
Czech Republic
Actions adopted to neutralize downward trend in the rate of profit of the wo...Fernando Alcoforado
The profit rate in the United States, Germany and Japan had a downward trend from 1950 to 2000. If we assume that this trend is not reversed, for example, to the United States, the largest world economy, the profit rate in this country that was 24% in 1950 and 13% in 2000 will achieve a profit rate equal to zero in 2059. The same will also happen to Japan, Germany and the entire world economy. Figure 2 also presented in the article cited above shows that the rate of profit to the historical cost of the fixed capital of US corporations was 32% in 1947 and 13% in 2007. Assuming that this trend will be maintained in the coming years, the profit rate of US corporations will reach zero in 2048. It follows, therefore, that the world capitalist system would be unfeasible between 2048 and 2059. In other words, the world capitalist system would have negative profit rates in the mid-twenty-first century. Given the inexorable trend of the profit rate to decline in the world capitalist system, they have been implemented neutralizing actions to its reversal. Karl Marx explained in The Capital that neutralizing actions to get the fall of the profit rate would come into operation. It is for this reason that Marx describes the fall of the profit rate as a trend decline.
In the current issue of Economy Matters, we analyse the growth trends emanating out of China, Japan and US, in the section on Global Trends. In Domestic Trends, data trends in IIP, inflation and trade are analysed. The Sectoral Spotlight for this issue is on ‘Employment Potential of the Road Transport Sector’. In Focus of the Month, we evaluate the three recently released reports by DIPP, World Bank and World Economic Forum on State of Competitiveness in India.
Main Streets Across the World 2015-2016David Bourla
In this report, we track over 500 of the top retail streets around the globe to bring you a ranking of the most expensive retail locations in the world, one per country using their prime rental value.
Degroof Petercam Asset Management's chief economist and asset allocator look into whether the reflation trade is for real and inflation is back in the cards.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
This paper looks in detail at the sharp slowdown in the Brazilian economy for the years 2011-2014,in which economic growth averaged only 2.1 percent annually,as compared with 4.4 percent in the 2004-2010 period. The latter level of growth was also more than double Brazil’s average annual growth rate over the prior 23 years (although it was much lower than the pre-1980 period). It is important to understand why the higher rate of growth experienced from 2004 to 2010 was not
sustained over the past few years.
The authors argue that the slowdown is overwhelmingly the result of a sharp decline in domestic
demand, rather than a fall in exports and even less any change in external financial conditions. The sharp fall in domestic demand, in turn, is shown to be a result of deliberate policy decisions made by the government. This decision to slow the economy was not necessary, i.e., it was not made in response to some external constraint such as a balance-of-payments problem.
Economy and equity markets: are they disconnected?Markets Beyond
Equity markets are not disconnected from the real economy and there no reason, under the current circumstances, to fear a market collapse. The S&P 500 is however no longer cheap.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
You’ll see from the reports in this edition of Market Monitor that, while there are tentative signs of
economic stabilisation, these are tempered by indicators that still advise caution for future trade.
Germany has recorded positive growth since the summer, but we still expect bank lending to
continue to decline. Spain, in contrast, records negative growth forecasts for the short- and mid-term,
but at least our indicators show that the high tide of payment defaults and insolvencies may finally
have peaked. In the UK, however, a turnaround in the rising insolvency trend is still not in sight, and
the troubled construction sector is forecast to continue to suffer into 2010. That said, the car
scrappage scheme, which started later than in many other countries, will provide some cushion for
the automotive sector in the coming six months.
Against this background, we continue to urge caution, not just when embarking on new trading
ventures, but also in trade with established customers. Essentially, businesses need to tread more
carefully in ALL their sales transactions – monitoring changes in the payment behaviour of current
customers and taking extra care in assessing the financial strength of new prospects.
In this issue…
…we feature the following markets:
United Kingdom – with a spotlight on the construction and automotive sectors
Mexico – with a spotlight on the retail and chemicals sectors
Germany
Spain
Denmark
Portugal
Czech Republic
Actions adopted to neutralize downward trend in the rate of profit of the wo...Fernando Alcoforado
The profit rate in the United States, Germany and Japan had a downward trend from 1950 to 2000. If we assume that this trend is not reversed, for example, to the United States, the largest world economy, the profit rate in this country that was 24% in 1950 and 13% in 2000 will achieve a profit rate equal to zero in 2059. The same will also happen to Japan, Germany and the entire world economy. Figure 2 also presented in the article cited above shows that the rate of profit to the historical cost of the fixed capital of US corporations was 32% in 1947 and 13% in 2007. Assuming that this trend will be maintained in the coming years, the profit rate of US corporations will reach zero in 2048. It follows, therefore, that the world capitalist system would be unfeasible between 2048 and 2059. In other words, the world capitalist system would have negative profit rates in the mid-twenty-first century. Given the inexorable trend of the profit rate to decline in the world capitalist system, they have been implemented neutralizing actions to its reversal. Karl Marx explained in The Capital that neutralizing actions to get the fall of the profit rate would come into operation. It is for this reason that Marx describes the fall of the profit rate as a trend decline.
In the current issue of Economy Matters, we analyse the growth trends emanating out of China, Japan and US, in the section on Global Trends. In Domestic Trends, data trends in IIP, inflation and trade are analysed. The Sectoral Spotlight for this issue is on ‘Employment Potential of the Road Transport Sector’. In Focus of the Month, we evaluate the three recently released reports by DIPP, World Bank and World Economic Forum on State of Competitiveness in India.
Main Streets Across the World 2015-2016David Bourla
In this report, we track over 500 of the top retail streets around the globe to bring you a ranking of the most expensive retail locations in the world, one per country using their prime rental value.
Degroof Petercam Asset Management's chief economist and asset allocator look into whether the reflation trade is for real and inflation is back in the cards.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
The country’s imbalances are not primarily the result of demographics, lack of competitiveness and loss
of macroeconomic policy autonomy on joining the euro, or cheaper investment goods. Rather, they reflect political choices: the government’s drive to balance the budget; reforms that undermined labour’s bargaining power; a highly unequal distribution of wealth; and too much taxation of consumption and too little of corporate profits, wealth and property.
El Informe País sobre España muestra un crecimiento sólido, sostenible y más intenso que otros mercados periféricos de la Eurozona.
Tras dos años de contracción, los últimos indicadores de actividad señalan que la recuperación económica de España está tomando impulso. El informe país sobre España que hoy difundimos a nuestros asegurados en 50 países, muestra un rendimiento económico resistente y sostenible y una recuperación más intensa que la de otros mercados periféricos de la Eurozona.
La economía española lleva ya cuatro trimestres seguidos de crecimiento y en el segundo trimestre de 2014, el PIB registró el mayor incremento trimestral desde el primer trimestre de 2007. El aumento de la demanda externa y la mayor confianza empresarial han estimulado la inversión empresarial, mientras que la recuperación del mercado laboral y la demanda contenida de bienes de consumo duraderos han incrementado el consumo privado. Los componentes privados de la demanda interna, básicamente consumo e inversiones, han sido el pilar del crecimiento del PIB en lo que va de 2014 y se espera que se mantengan su solidez en la segunda mitad del año.
El crecimiento está teniendo un impacto positivo en el mercado laboral. El desempleo ha registrado su mayor descenso desde 2006. No obstante, aún existen algunos problemas importantes en el mercado laboral español: el 15% de la población activa ha permanecido desempleada durante más de un año y el desempleo juvenil sigue siendo alto, el 55%. Se espera que el desempleo no baje del 20% durante al menos otros cuatro años.
Actualmente, toda la Eurozona se enfrenta a una reducción de la inflación, lo que inquieta a algunos de sus Estados miembros como España, donde la inflación ha caído bajo cero en 2014. Las medidas anunciadas por el Banco Central Europeo y la creciente demanda interna deberían llevar al aumento de precios de consumo hasta el 0,9% en 2015.
La competitividad internacional de España está mejorando y el sector exportador es relativamente sólido y competitivo. 2007 ha sido el único año reciente en el que la contribución de las exportaciones netas al PIB fue negativa. La comparación basada en el tipo de cambio efectivo real, que mide la competitividad internacional de un país al modificarse costes y precios, muestra que todavía hay un margen considerable de mejora. En 2013, la balanza por cuenta corriente registró su primer superávit desde 1986 y en 2014 se espera otro superávit, reflejo de las mejoras estructurales en competitividad internacional. España registró un sólido rendimiento en exportaciones en 2013, ofreciendo una favorable mezcla de productos y diversificando los mercados de exportación. Aunque Francia y Alemania siguen siendo destinos clave de exportación, España ha aumentado los envíos a mercados emergentes en África, América Latina y Oriente Medio. Asimismo, la inversión extranjera directa ha mejorado y se encuentra a buen n
Every month, Atradius brings you an up to the minute snapshot report on a range of export markets and key trade sectors. Our underwriters have a specialist view of the world economy – and the
industries that make that economy tick - that you won’t find in the general press coverage of events.
Even more importantly, our underwriters use their expertise and experience to look to the future. In each edition of Atradius Market Monitor you’ll find our outlook for a number of key market economies.
In this issue…
…we feature the following markets:
The United Kingdom – with a spotlight on the metals and automotive sectors
Mexico – with a spotlight on manufacturing, construction and retail
Germany
Spain
Denmark
Greece
Portugal
South Africa
It is likely that the impending trade war will be limited to individual product groups. If so, growth will continue in Finland this and the next year. The economic recovery shows that Finland has not been endowed with the exceptionally serious structural problems as alleged. Because of spending cuts and other measures, the strong economic development will not improve the situation of all population groups equally. The growth of income inequality should be mitigated by updating basic social security, which would include index adjustments of benefits no later than 2019.
The boom becomes less pronounced but continues. This year, the growth of exports will not reach the peak figures of last year but the growth will to some extent pick up speed again in next year. The quickly decreased unemployment rate will continue to drop. An analysis of long-term employment growth by age group shows that positive employment growth is concentrated on the one hand on younger employees and, on the other hand, older employees, whereas the employment rate of men aged 25–34 is growing smaller. The government budget policy is too expansive, given the economic situation.
A piaci konszenzusnál erősebben, az OTP Bank Elemzési Központjának előrejelzésénél gyengébben alakult az első negyedéves GDP. Az adat megerősítette az OTP elemzőinek az idei év egészére vonatkozó 4%-os növekedési várakozását, a kockázatok felfelé mutatnak.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Highlights:
- Current account reflects the recovering investment activity
- Annual inflation continues hovering around 3%
- GDP growth exceeds expectations and leads to revised forecasts
In Focus:
- Latvia 2017: Back to growth and structural reforms, by Mārtiņš Grāvītis
The recession that started in 2008 caused a sharp deterioration of the budget balance of Spain. This decline was not fully anticipated by the structural budget balance due to some methodology limitations.
In this article, we calculate an alternative structural balance for Spain in the years prior to the subprime crisis that includes residential investment as an explanatory variable. This estimate shows that by 2004 the Spanish fiscal situation was not as strong as presumed. This fragility was hidden by the extraordinary revenue from the real estate bubble and the construction boom.
Highlights:
In August, annual inflation returns to positive territory
Manufacturing growing fast in July
External complications do not impair Latvia's exports going uphill
Sadaļā In Focus:
Research: Latvia's 2008-2009 wage adjustment stronger than thought before, by Ludmila Fadejeva and Olegs Krasnopjorovs
From ELANA Trading: Macroeconomic and Market Outlook 2015 „Bulgaria: Back on ...ELANA Group
This research report offers a thorough view on the major macroeconomic trends in Bulgaria, looking also into all internal and external factors such as crisis in Russia and Ukraine, as well as Greece turmoil. The outlook includes a snapshot of the Bulgarian stock market and its movers & shakers as well as ELANA Trading analysts top picks.
Some analysts points:
- We are cautious for 2015, but looking for a GDP growth pick up in 2016.
- Factors to watch during in 2015 would be the first decisive moves for reforms of the new coalition government, Greece and the crisis in Ukraine.
- The recent capital market decline provides good buying opportunities in various sectors as banks and financial services, electrical equipment, pharmaceuticals, etc.
- Upcoming IT IPO to boost market vitality.
Economic growth is slowing downGlobalization contributes many.docxtidwellveronique
Economic growth is slowing down
Globalization contributes many advantages to the global economy. The global boom is the result from globalization. Economy had a rapid growth after 1990s. But the globalization also carries some problems to the economic. As a result, the economic growth is slowing down in recent years.
In the article The steam has gone out of globalization, the author states that the globalization is leading our economy to a new era called “slowbalisation”. The economy has a robust growth during the golden age of the globalization in 1990-2010. But the economic growth rate become slower in recently years because the benefits from the globalization is almost used up. The cost of shipping has stop falling, multinational firms find a hard time survive in both global markets and the local markets. Meanwhile activity is shifting towards service, which is harder to trade across the borders. Those are the factors cause the slowbalisation. And globalization remains many issues that slow the economy down in the recent years.
First, the decline of the total investment in the market caused the economic growth to slow down. Investment is a very significant factor that effect the long-term aggregate supply. If the long-term aggregate supply doesn’t increase, the rise in the aggregate demand will cause inflation but not economic growth. Moreover, the high geopolitical risk makes firms unwilling to put investment in countries and industries that carry high risk. In the article, “global value of cross-border investment by multinational companies sank by about 20% in 2018” (Slowbalisation, page 2 para 3). And the decline in the payoff of from the investment also slow down the economy. Globalization bring the production cost significantly lowered than before. But after the cost of shipping has stop falling and the labor cost can not be reduced, firms can not lower the production cost anymore therefore lower the total payoff from investment. This means a country need to put more money in the investment in order to reach the same economic growth as before, which is not sustainable (Ip).
Since the benefits from the globalization become less significant, trade conflict between two countries become more ordinary in recent years that reduce the chance of cooperation in economic and slow down the economic. Country like the United States is now putting more attention to the domestic economic growth rather than the global economic growth. Trade conflict between U.S. and China is the trigger for the latest slowing (Ip). Moreover, the high tariff set by the U.S. government even hurt its small domestic business because of the increasing cost in production (Guo). As a result, trade behavior between countries will become more regional.
The divergent monetary policies between America and the rest of the world will hurt the economy in the emerging markets. The Federal Reserve has already raised the interest rate 8 times while the European Central Bank ha.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Similar to Germany - Towards a New Growth Model? (20)
Special Report - Is the OPEC Agreement a Game Changer?Amir Khan
Contrary to expectations, OPEC managed to reach an agreement at the sidelines of the Global Energy Forum held in Algiers. But it's too early to say this will be turning for the oil market.
Special Report - Spain - Election AftermathAmir Khan
Growing political uncertainty and the fragmentation of the exiting political order among some of the developed countries of Europe appears to be here to stay. No more is this true than in the case of Spain where, in fact, there has been the absence of a functional government for almost a year now. Here's how we think the situation may ultimately play out in the country.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.
Germany - Towards a New Growth Model?
1. BTMU Economic Brief | July 20161
BTMU Economic Brief
Germany – Towards a New
Growth Model?
AMIR KHAN
ECONOMIC RESEARCH | LONDON
T: +44-(0)20-7577-2180
E: Amir.Khan@uk.mufg.jp
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
A member of MUFG, a global financial group
JULY 2016
he German economy – while it continues to be one of the key motor of the Eurozone
economy – has gone from being heavily reliant on net exports to drive its growth, to one
which has become more dependent on domestic consumption more recently. As such,
the purpose of this note is to explore some of the factors which have underpinned this
development, as well as to focus on whether this represents a sustainable development going
forward.
A shift from net exports towards domestic demand…
In the years leading up to financial crisis, German GDP growth was mainly driven by net
exports (see Chart 1). External demand contributed on average 0.8 percentage points per year
between 2001 and 2008. External demand, thus, delivered in excess of 50% of the country’s
average GDP growth of 1.4% during this period, while the contribution of internal demand was
much weaker.
Spending by private households in particular was often sluggish and did not contribute much to
GDP growth – by, on average, just 0.3 percentage points between 2001 and 2008. This can
mainly be explained by the much weaker performance by Germany’s labour market at that time
compared to now, and modest growth in real wages during this period. This trend continued for
-8
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-4
-2
0
2
4
6
2001-08 2009 2010 2011 2012 2013 2014 2015
Inventory Investment Private Consumption
Government Consumption Net Exports
Fixed Investment GDP growth (%)
Chart 1: GDP Growth and Breakdown
(Year)
(Y/Y, %)
(Source) IHS
T
2. BTMU Economic Brief | July 20162
some time following the peak of the financial crisis in 2008/09, with growth contributions from
net exports being higher than those from private consumption.
Over the course of the last three years, however, this pattern has changed considerably, with
private consumption becoming the main driver of economic growth. Due to strong domestic
demand from private households, imports have also been increasing at a high rate. By way of
contrast, growth in exports has been constrained, thanks to the slowdown in emerging market
economies, to which German exporters exposure has grown since 2000 (see Chart 2 & 3).
Against this changing backdrop, we envision that net exports will likely make a negative
contribution to Germany’s GDP growth this year and perhaps next. Nevertheless, the German
economy will stay on track, with growth expected to reach around 1.4% on average over the
course of this year and next, a figure which, if realised, will be modestly down on the previous
year’s reading of around 1.5% but which will continue to exceed its potential that the likes of
the IMF have estimated to be in the region of 1.3%.
…A development which has been aided by a broad array of factors...
The revival in Germany’s private consumption is caused by several factors, which together are
combining to form a virtuous cycle:
Firstly, the German labour market is booming. The level of employment, with more than
43m employees, is the highest since German re-unification and the prospects appear to be
good if, among other things, forward looking surveys such that by Markit are any guide (see
Chart 4). This healthy labour market performance can, in turn be traced back to the Hartz
labour market reforms that were pushed through in the early to mid-2000s with a view to
improving the labour flexibility and increasing the possibilities for part-time and temporary
employment.
0
2
4
6
8
10
12
2000 2014
India
Brazil
Russia
China
Chart 2: A Breakdown of German Exports and the
Growing Exposure to Big EM Economies
(Year)
(Note) German exporters total exposure to EMs has grown from
around 20% to 30% over this period.
(Source) WITS
(% of total exports)
-4
0
4
8
12
16
20
24
28
48
50
52
54
56
58
2010 2011 2012 2013 2014 2015 2016
EMs Composite PMI Index (LHS)
German export growth (RHS)
(Reading > 50 = expansion)
Chart 3: The Recent Slowdown among EMs has
Adversely Affected Germany's Export Performance
(Y/Y, %)
(Source) Macrobond
(Year)
3. BTMU Economic Brief | July 20163
With unemployment at – or near – record lows, this is supporting the bargaining power of
unions. Consequently, growth in wages is quite dynamic, running at in excess of 2% over
the past year or more. This, coupled with the fact that up to 3.7m employees are benefiting
from the introduction of a minimum wage since the beginning of 2015 means that workers
in Germany are benefiting from fairly generous uplift in both their nominal and real wages,
with the latter aided by the favourable evolution of headline inflation in Germany, which is
running at near-zero levels. Other supports for real income have been the collapse of oil
prices which – while they have reversed somewhat in recent months – still remain low by
recent historical standards. Finally, public transfers to over 1 million refugees that have
settled into the country from such places as Syria will also support private consumption.
Aside from private consumption, government spending has also been more supportive than
previously expected. Higher outlays in regard to the accommodation and integration of the
aforementioned refugees are also increasing aggregate demand. For 2015 alone, these
additional expenditures are estimated to have amounted to at least €10bn (around 0.3% of
GDP) and according to Finance Minister Schäuble, these could be even higher in 2016.
…But how sustainable is this shift?
We welcome the recent rebalancing in German GDP in favour of domestic consumption, but
whether this represents a lasting structural shift remains open to question. Notwithstanding
this, as we alluded to above, we expect this trend to persist for the time being at least on back
of favourable employment dynamics, ongoing boost from net immigration and low interest
rates. Additionally, with the German housing market in rude health recently, this is also
creating positive “wealth effects”, which will likely continue to spur German households to
spend some of their surplus income.
That said, while the shift that the German economy is currently undergoing is set to continue
for the time being, we are doubtful about the staying power of this development. Some factors
as to why we think this to be the case include the following:
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0
10
20
30
40
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Services sector Manufacturing sector
(Source) Macrobond
(Year)
(Index, balance)
Chart 4: Markit's Guage of the German Employment Outlook
across the Major Sectors
4. BTMU Economic Brief | July 20164
Even though the labour market is expected to remain healthy throughout 2016, our
expectation is that unemployment will reverse its multi-year downward trend at some point
as the newly arrived refugees obtain the right to work.
The boost to disposable income from low oil prices and near-zero inflation will eventually
run its course, likely resulting in deteriorating income expectations and less willingness to
spend.
The strong wage increases seen over the recent past, which have boosted disposable
income, will start to hurt Germany’s export competitiveness and – if allowed to persist –
may ultimately undermine demand for labour.
Separately, it is also worth noting here that despite the buoyancy of domestic demand recently,
a cursory look at Germany’s current account position – which is a broader measure than the
trade balance on its own and is reflective of the overall health of a given country’s external
sector relative to that of its trading partners – reveals that it is still firmly in surplus territory (see
Chart 5). Another way of looking at this is to compare Germany’s savings and investment
position, which reveals that the country has large mismatch in favour of savings (see Chart 6),
with some of these surplus funds being used to finance the reciprocal deficits of some of its
trading partners.
As such, the point to note here is that for Germany to close its favourable current account gap
with that of its trading peers not only is there a need for consumption levels in the country to
rise in a persistent fashion but, over and above this, its investment outlays also have to
increase in a material way so as to address the current imbalance between its savings and
investment position. However, with respect to the issue of investment, we don’t see happening
at least in the near-term, given the fact that – while corporate sentiment, on the whole, is on
the mend – it is still rather weak relative to the peak that was seen in the aftermath of the
financial crisis, in large part because demand for new export orders continues to trend down
(see Chart 7).
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0
2
4
6
8
10
12
-40
-20
0
20
40
60
80
00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16
Current account (LHS)
Current account as a percentage of GDP (RHS)
(Source) Macrobond
(Year)
(EUR, billions) (% of GDP)
Chart 5: Germany's Current Account Remains
in Surplus Territory
15
20
25
30
00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15
Total Investment Gross National Savings
(Source) Macrobond
(Year)
Chart 6: There is a Mismatch between
Germany's Savings and Investment Position
(% of GDP)
Savingsandinvestmentgaowas8.5ppof
GDPasoftheendof2015
5. BTMU Economic Brief | July 20165
The other related point to note here is that although the capacity utilisation rate has been
trending up, it is still below its pre-crises levels (see Chart 8), meaning that – in an environment
of continued uncertainty – companies may still be inclined to continue to make greater use of
their existing capital outlays before committing to additional investment expenditure.
Concluding remarks
While we welcome the recent signs of rebalancing in the German economy away from its
traditional reliance on exports towards domestic consumption, we would not go as far as
calling the recent shift durable – or for that matter structural – in nature. That said, we do
recognise that the German economy is undergoing some subtle changes on back of – among
other things – the recent strength of the labour market and the arrival of new migrants into the
country, which is serving to invigorate domestic demand in the country. However, as we note in
this report, some of these catalysts are likely to be temporary or cyclical in nature and, as such,
their influence may wear off over time. For Germany to experience a more lasting rebalancing,
we are of the view that the German government needs to play a more active role by, for
instance, maintaining a more lax fiscal policy stance over a prolonged period and/or by giving
the corporate sector greater incentives to invest more rather than to save their surplus income.
The latter is particularly important, in our mind because we are finding that the German
economy is gradually losing some of the competitiveness gains that it benefited from with the
adoption of the Hartz labour markets reform, which it implemented during the early to mid-
2000s. Against this backdrop, one way for Germany to regain its competitive zeal is to prioritise
capital investment over labour as – in an environment of rising unit labour costs – this will help
the country to boost productivity and, hence, offset some of the recent rises in its unit labour
costs.
80
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105
110
115
20
25
30
35
40
45
50
55
60
65
06 07 08 09 10 11 12 13 14 15 16
PMI New Export Orders Index (LHS)
Corporate confidence (IFO, RHS)
(Source) Macrobond
(Year)
Chart 7: Corporate Confidence Continues to
be Held Back by Export Order Weakness
68
70
72
74
76
78
80
82
84
86
88
90
00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16
(Source) Macrobond
(Year)
Chart 8: Capacity Utilisation Continues to
Hover below its Pre-Crises Peak(%)
2016 Q2: 84.4Pre-crisis peak: 88.8
6. BTMU Economic Brief | July 20166
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