A recent report from Greenpeace found that China's coal consumption declined in the first half of this year and new Chinese government data suggests that the country's coal imports have dropped. Estimates indicate that by the end of the year, China's coal imports could be 8% below 2013 levels.
The world's economy is in tatters and safe havens are few and far between, says legendary contrarian Marc Faber. The banking crisis in Cyprus has shown that even bank deposits are not safe. So where can a person park their money?
Growth-geared crude oil and copper prices are on the upswing as risk appetite firms across financial markets. Sentiment began to firm in Asia as China’s leadership structure began to crystallize following the conclusion of the 18th Communist Party Congress.
After three decades of tremendous expansion, the new generation of Chinese leaders will have to carefully maneuver the country into the next decade, towing the line between maintaining stability and continuing the political and economic reform.
Renewed fears over eurozone debt have seen the euro fall against most currencies and precious metals today. The yield on Greek 10-year bonds is approaching an alarming 13% after jumping to a new record high of 12.89% today.