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Chinese Investors Moved More than $3.79 Trillion Out of Country Illegally

Chinese investors evading government controls have channelled $3.79 trillion in illicit financial outflows from 2000 through 2011, according to a report by Global Financial Integrity. In 2011 alone, China lost over $600 billion – more than any other country in the last ten year period.

At the same time, the group also found that a significant part of the illicit outflows from China is “round-tripped” back to the country as recorded foreign direct investment, disguised to win tax breaks and other incentives from the government.

An Alternative Theory For The World’s Limited Oil Supply: Gail Tverberg

Ever since Mankind first began using crude oil for its energy needs, economists and analysts alike have brought forward numerous theories to forecast the lifecycle of oil supplies, both on a local and global scale. But with oil demand, oil prices and economic problems continuing to grow worldwide, are some of the more prominent theories of the past – including Hubbert’s peak oil theory – outdated?

We seem to hear two versions of the story of limited oil supply:

Key Economic News to Watch This Week: October 29

The month of November brings us a lot closer to the highly-anticipated political events of the year. The 57^th quadrennial presidential elections will be held on the 6^th of November, while China’s ruling Communist Party will hold a congress to appoint a new generation of central leaders from November 8. How will these events affect the markets?

One In Five UK Workers Earning Less Than “Living Wage”: KPMG

Nearly one-fifth of all hired staff in the U.K. are paid less than the nation’s standard ‘Living Wage’, claimed a study by KPMG on Monday, with some 47 percent of those surveyed expecting their finances to worsen over the next year.

Is Affordable Energy a Myth? – Interview with Ed Dolan

Oil and energy prices have fluctuated so erratically in the last several years, affected by the constant threat of war and exacerbated by the global economic turmoil. As energy prices continue on its long-term upward trend, many wonder if affordable energy is really just a myth.

We were fortunate enough to speak with the well-known economist Ed Dolan on various energy and economic issues.

In the interview Ed talks about the following:

Family of Outgoing Chinese Premier Alleged to Have Amassed $2.7bn Wealth During His Term

The extended family of outgoing Chinese Premier Wen Jiabao has controlled assets worth at least $2.7 billion, according to a New York Times exposé which cited corporate, regulatory records and unidentified people familiar with the family’s investment history.

In a seven-page exposé on one of China’s top politicians, the New York Times gave an account of how the family of Wen Jiabao, a populist leader often referred to as “Grandpa Wen” by the press, had become “extraordinarily wealthy” during his time in office.

UK Moves Out of Recession After Olympics Boost

The UK has posted its strongest quarterly growth in five years, recovering from a recession in the third quarter thanks to the London Olympics spending boost.

The UK emerged from its longest double-dip recession since the World War II after the economy grew 1 percent between the second and third quarters, beating forecasts for a 0.6 percent gain, after shrinking by 0.4 percent between April and June.

The unexpected return to growth came as a relief for the coalition government who has come under fire for its austerity programme.

Breaking the Inter-Generational Poverty Curse: Jeffrey D. Sachs

To break the cycle of poverty, a country needs to invest in its people. Governments have the unique role to play to ensure that all young members of a generation – the poor children as well as rich ones – have a chance. Yet many societies around the world fail to meet the challenge of ensuring basic health and a decent education for each generation of children.

The Missing Link in Japan’s Lost Decades

The Japanese economy crashed in the late 1980s and annual growth has since averaged 0.8 percent – despite the Bank of Japan’s zero interest rate strategy. For two decades, the Japanese economy was characterised by meagre growth, unemployment and persistent deflation, forcing businesses in Japan to slash costs and add value to their production. Comparisons have been made, increasingly, between America’s stagnant economic growth and Japan’s lost decade, and in this light, it is worthwhile revisiting the lessons from Japan.

China Wants to Ban Foreign Vessels from its Inland Waterways

In a bid to protect its domestic shipping industry from a slowing global market, China has introduced a plan to ban foreign vessels from sailing on its domestic waters, as well as block foreign shipping services from operating in China.

China will ban foreign vessels from sailing on its domestic waterways from January 1 as local operators struggle to profit amid a global shipping glut.