Evy Hambro, Economist: Possible End In Sight For Global Economic Crisis

A UK economist specialising in China says that the economic stimulus package implemented by the Chinese government earlier this year could have positive impacts on world growth and save the global economy from a deep recession.

"I do think we are starting to see the green shoots of recovery and also confidence coming back with regards to people's outlook for the Chinese economy," BlackRock portfolio manager Evy Hambro said during a teleconference

Mr Hambro said industrialisation of the world's emerging nations was still taking place and would continue to be a "significant" driver of commodity demand over the next 10 to 15 years.
"We believe we're going through a short-term dip in what is at the end of the day a very long-term trend," Mr Hambro said.

"Demand at the end of the day will recover.
"These are not luxury goods these are essential goods people need to run their lives and you can't live without oil, you can't live without energy and many metals."

Via: SMH

Cyber War Between US-China?

Could there be a cyber cold war between the United States and China brewing?

The AP reports that the Chinese government has fired back at a U.S. congressional panel report that alleges the Chinese government of computer espionage attacks against US interests.

Chinese Foreign Ministry spokesman Qin Gang released a statement from Beijing that rejected the panel findings.

From the AP:

The commission "deliberately slanders and attacks China" and always sees it in a bad light, Qin said. "It attempts to mislead public opinion and the general public as well as set obstacles for Sino-U.S. cooperation in extensive fields."

The panel of six Democrats and six Republicans said China's massive military modernization and its "impressive but disturbing" space and computer warfare capabilities "suggest China is intent on expanding its sphere of control even at the expense of its Asian neighbors and the United States."