By Chris Hughes
The author is a Reuters Breakingivews columnist. The opinions expressed are his own.
By Aly Song
Sometimes a good story comes naturally.
As a follow-up to China’s mighty urbanization policy, I gained access to a huge construction site within a new residential development zone some 30 kilometers (18 miles) from Shanghai’s city center. My original plan was to photograph the lives of Chinese migrant workers at night. I imagined that they would probably go to some colorful places and do some interesting things after nightfall. But I was completely wrong – every day they went straight back to their dormitories, where they would eat, chat, play some poker, probably watch an outdoor movie once a month, and that’s it!
By Dan Indiviglio
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Flying the nest should pay big economic dividends in the United States. As jobs return, the expectation is that droves of 20-somethings will ditch their roommates or vacate Hotel Mom & Dad to get their own places. They may rent more than they buy, but the effects still look profound. Between home building and related activity like furniture sales, Breakingviews reckons new household formation could account for up to a whopping 30 percent of GDP growth through 2019.
U.S. housing sector fundamentals remain favorable despite the recent rise in interest rates and the sharp drop in housing starts in June, says Citigroup economist Peter D'Antonio.
Taiwan's forecast-beating export data today came as a pleasant surprise amid the general emerging markets economic gloom. In a raft of developing countries, from South Korea to Brazil, from Malaysia to the Czech Republic, export data has disappointed. HSBC's monthly PMI index showed this month that recovery remains subdued.