January 14, 2012
There has been a fair amount written recently about various institutional cartels that are thriving in the US despite antitrust laws designed to prevent their existence. My previous column compared Wall Street’s few remaining investment banks to a cartel, with explicit pricing power over its hundreds of thousands of customers, an advantage that will [...]
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Posted in Life in Vietnam | Comments Off
January 9, 2012
 Street vendors ply their goods in downtown Ho Chi Minh City. The Asian Development Bank has lowered Vietnam’s economic growth forecast in 2012 to 6.3 percent from 6.5 percent forecast last September. With the world economy remaining mired in difficulty, the Asian Development Bank forecasts a difficult year ahead for Vietnam. However, it [...]
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Posted in Reports | Comments Off
January 8, 2012
Vietnam will have tight fiscal and monetary policies to fight inflation this year, while advancing a restructuring plan to enhance the efficiency and competitiveness of the economy, the government said. The country will use a “tight, cautious, flexible” monetary policy and “tight, effective” fiscal measures in 2012, according to a resolution posted late yesterday [...]
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Posted in Business | Comments Off
January 3, 2012
A street vendor walks past a Chanel SA store inside the Rex Hotel in downtown Ho Chi Minh City, Vietnam, on Tuesday, Dec. 27, 2011. Vietnam’s growth held near 6 percent this quarter, reducing the pressure for further monetary tightening after higher interest rates limited the boost to the economy from exports and domestic consumption. [...]
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December 14, 2011
Vietnam's inflation is expected to slow to about 9 percent in 2012 and is under control, Prime Minister Nguyen Tan Dung told the Consultative Group. Vietnam may undermine progress toward economic stability if it loosens monetary policy now, the International Monetary Fund and World Bank said as the nation struggles with the fastest inflation in [...]
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November 26, 2011
Vietnam’s inflation slowed for a third month in November, and the central bank signaled it may consider lowering interest rates. Consumer prices rose 19.83 percent from a year earlier, after climbing 21.59 percent in October, the General Statistics Office said in Hanoi Friday. The State Bank of Vietnam has room to cut policy rates [...]
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November 15, 2011
International Monetary Fund chief Christine Lagarde (L) shakes hands with China’s Prime Minister Wen Jiabao during a meeting in Beijing on November 9, 2011. China’s financial system is at risk from bad loans, booming private lending and sharp falls in property prices, the International Monetary Fund warned Tuesday, as it called for sweeping reforms. In [...]
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Posted in International | Comments Off
October 9, 2011
Vietnam may undermine efforts to stabilize the country’s economy and currency if it prematurely eases monetary policy, the International Monetary Fund said, as the nation fights the fastest inflation in Asia. “The risk is that all the hard work they’ve done this year in trying to re-establish their stabilization credentials and to try to [...]
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October 8, 2011
Vietnam’s central bank increased its refinancing rate for the first time since May, as the nation tries to steady its currency and tame Asia’s fastest inflation. The State Bank of Vietnam raised the refinancing rate to 15 percent from 14 percent, effective Oct. 10, it said in a statement on its website Thursday. The [...]
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September 22, 2011
Greece adopted yet more austerity measures on Wednesday to secure a bailout installment crucial to avoid running out of money next month, as the IMF warned that Europe’s sovereign debt crisis risks tearing a giant hole in banks’ capital. The Greek cabinet agreed to cut high pensions by 20 percent, put 30,000 civil servants [...]
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