John's Feed
Aug 27, 2015
via Breakingviews

Fake Goldman Sachs belies a real China strength

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The Goldman Sachs leasing company in Shenzhen is as genuine as the Apple store in Kunming and the $5 bottle of Chateau Lafite-Rothschild in Beijing. Wall Street’s best-known investment bank has joined an illustrious list of Chinese fakes that belie a very real Chinese strength.

Aug 27, 2015
via Breakingviews

Fake Goldman Sachs belies a real China strength

Photo

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The Goldman Sachs leasing company in Shenzhen is as genuine as the Apple store in Kunming and the $5 bottle of Chateau Lafite-Rothschild in Beijing. Wall Street’s best-known investment bank has joined an illustrious list of Chinese fakes that belie a very real Chinese strength.

Aug 25, 2015
via Breakingviews

Miners’ dividends are a fragile commodity

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The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.

Minerals are a wasting asset – they dwindle as time goes on. Miners’ dividends, though, keep expanding. BHP Billiton just increased its payout to investors by 2 percent even as it announced that earnings in the year to June had halved. Increasing contortions will be needed to keep delivering generous cash returns to shareholders.

Aug 25, 2015
via Breakingviews

Miners’ dividends are a fragile commodity

Photo

The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.

Minerals are a wasting asset – they dwindle as time goes on. Miners’ dividends, though, keep expanding. BHP Billiton just increased its payout to investors by 2 percent even as it announced that earnings in the year to June had halved. Increasing contortions will be needed to keep delivering generous cash returns to shareholders.

Aug 19, 2015
via Breakingviews

Glencore tripped up by faith in rational markets

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Glencore’s shtick has long been that it is the master of the commodity markets. It knows when to take risks, it can shift supply to where it’s most wanted and it tweaks its own mines to maximise profit. Or at least it can do all that when everyone else behaves rationally. That thinking has come unstuck, and the Anglo-Swiss commodities trader’s earnings have gone with it. They halved in the first six months of 2015.

Aug 19, 2015
via Breakingviews

Glencore tripped up by faith in rational markets

Photo

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Glencore’s shtick has long been that it is the master of the commodity markets. It knows when to take risks, it can shift supply to where it’s most wanted and it tweaks its own mines to maximise profit. Or at least it can do all that when everyone else behaves rationally. That thinking has come unstuck, and the Anglo-Swiss commodities trader’s earnings have gone with it. They halved in the first six months of 2015.

Aug 7, 2015
via Breakingviews

Trump and China give opposing lessons in failure

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By John Foley

The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.

Presidential hopeful Donald Trump says that bankruptcy in the United States is nothing to be ashamed of. In China, where high debt levels are also a concern, it’s the opposite: failure is to be avoided vigorously. These opposing views end in the same place. When going bust brings too much pain or too little, disaster can follow.

Aug 7, 2015
via Breakingviews

Trump and China give opposing lessons in failure

Photo

By John Foley

The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.

Presidential hopeful Donald Trump says that bankruptcy in the United States is nothing to be ashamed of. In China, where high debt levels are also a concern, it’s the opposite: failure is to be avoided vigorously. These opposing views end in the same place. When going bust brings too much pain or too little, disaster can follow.

Jul 31, 2015
via Breakingviews

Olympics committee gets it right with Beijing 2022

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

It’s easy to think of things that the Olympic Games isn’t. An aid to economic development; a destroyer of dictatorships; a bringer of enduring respect to its host countries. Strip away the silly idea that it will fulfil any of these roles, and what’s left is a fun sporting event. In choosing Beijing for the 2022 Winter Games, the International Olympic Committee may finally have got it right.

Jul 31, 2015
via Breakingviews

Olympics committee gets it right with Beijing 2022

Photo

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

It’s easy to think of things that the Olympic Games isn’t. An aid to economic development; a destroyer of dictatorships; a bringer of enduring respect to its host countries. Strip away the silly idea that it will fulfil any of these roles, and what’s left is a fun sporting event. In choosing Beijing for the 2022 Winter Games, the International Olympic Committee may finally have got it right.

    • About John

      "John Foley is Reuters Breakingviews' editor for Europe, the Middle East and Africa. He relocated from Beijing in July 2015. John established Breakingviews’ Hong Kong bureau in 2009, and has written on China’s economy and financial system, mergers and acquisitions, capital markets and consumer goods. Follow John on Twitter @johnsfoley"
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