Felix Salmon

Why jobs require cities

February 2, 2012

Many thanks to Mark Bergen for finding me this data; I asked him for it because I thought that maybe we could learn something from the way in which China has managed to keep employment growing steadily through some extremely turbulent economic times.

Should bankers fly to China?

February 14, 2011

The advantage of being pseudonymous is that you can be honest. Here’s TED:

The most egregious example was the time I had to fly 18 hours, on short notice, from a mid-sized European city to Beijing for a two-hour pitch and fly right back to London for business the next day. In terms of cost-effectiveness, best use of senior bankers’ time, and sheer expense, this was pretty ludicrous.

Should you open an FDIC-insured yuan bank account?

January 12, 2011

I’ve been looking at the instructions for opening a yuan bank account here in New York; it seems very easy indeed. Just like a normal US dollar account, it’s FDIC insured, and it pays no interest. So, should New Yorkers with dollar savings convert some part of them to yuan?

Shorting reserves

February 3, 2010

Michael Pettis does a good job of systematically dismantling this idiotic line from Tom Friedman:

Chinese housing datapoint of the day

September 23, 2009

Rosealea Yao reports:

Roughly 80 per cent of China’s urban residents own their homes – an astonishing number for a country that only began to privatise its housing stock in 1998.

China datapoint of the day

July 16, 2009

Andrew Baston reports on China’s 7.9% GDP growth in the second quarter:

China’s government only reports year-on-year growth estimates. But when measured in the same terms as other major economies—an annualized quarter-on-quarter comparison—China’s growth in the second quarter could be on the order of 15%, some private economists estimate.

The Chinese stock-market crash: July 22

July 15, 2009

Josh and Tyler have found a piece of ever-so-scientific research which calculates that the Shanghai stock market will crash somewhere between July 17 and July 27. Which is convenient for me, since I’ll be there personally from July 19 through 25; I should have a front-row seat!

Resurrecting the panda bond

June 8, 2009

Should the US issue panda bonds, as Guo Shuqing, the chairman of China Construction Bank would like to see? Much better, I think, to start with the World Bank and a few other habitual foreign-currency issuers before suggesting that the US break with all tradition and borrow in any foreign currency.