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African Resources
Quest for African Resources
There is a map of the world on my office wall. What I like about this particular map is that the mapmaker paid particular attention to getting the scale right. That means Africa gets it proper gigantic sizing. It is truly a massive landmass.
It’s also fitting that it sits close to the center, because Africa is a big part of the future of natural resource exploration and production. In some sense, it’s retaking its historical pre-eminence. For instance, consider the former rich trading cities in the East.
Zanzibar, Dar es Salaam, Mombasa, Mogadishu, Mumbai, Mangalore… all trading cities…
29Jul2008 | Whiskey and Gunpowder | Comments Off | ContinuedMultinational Corporations Step up the Search for the “Next China”
As far as foreign direct investment in Asia is concerned, China is still the undisputed leader, drawing approximately $42.78 billion in just the first five months of the year, an increase of 55% from the same period a year ago.
But China is coping with a number of growing pains that include higher wages and a strengthening currency. That has left a void for other emerging markets to step up and take the place of a multinational corporation’s best friend.
China used to be thought of as the world’s factory floor – a haven of cheap labor and minimal regulatory oversight for…
20Jun2008 | Money Morning | Comments Off | ContinuedInflation is Winning
Today, we turn to our war correspondents for dispatches from the front lines, and we find an important insight:
“Learn to live with inflation,” begins the headline in the Financial Times.
The FT refers to England’s central banker, Mervyn King, who says inflation – already running hotter than at any time in 10 years – is going to heat up even more.
In America, the news is not so different. “Globalized Inflation,” is a headline in the Wall Street Journal, finally catching on. Input prices are running up at nearly twice the rate of the official CPI figure. Prices for goods imported from…
20Jun2008 | Daily Reckoning | Comments Off | ContinuedThe ugly Americans
In the mad rush to blame speculators for high oil prices, our solons in Washington have inadvertently revealed a U.S.-centric, 20th century mindset.
I’m sure Sens. Carl Levin and Dianne Feinstein think they’re enlightened types, far beyond any sort of “ugly American” mentality. But that’s exactly what they betray with their notion of closing the “London loophole.”
Says Levin, “The [Commodity Futures Trading Commission] didn’t have good information about who was trading how much US oil when, and whether traders subject to US speculation limits were circumventing them by trading in London. That’s why I and my colleagues have repeatedly introduced legislation…
8Jun2008 | Desidooru Saloon | Comments Off | Continued
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