China dominates lithium refining but has only 8 percent of the world’s raw lithium, less than Argentina, Bolivia, or Chile. Even the U.S. has more lithium ore than the Asian giant.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – May 30 2023
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MEXICO’S CENTRAL BANK PROMISES NO MORE INTEREST RATE INCREASES
Meeting on 25 May, the governing board of Mexico’s central bank voted unanimously to hold its key interest rate at 11.25 percent, halting its fastest and steepest series of rate increases on record.
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CORPORATE BUYBACKS: THE SPREE CONTINUES
The spate of corporations buying their own stock that we reported in “Company Stock Buybacks Set Record, Spark Investor Complaints” (23 May 2023) shows no signs of slowing.
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“GREEDFLATION” FUELS INFLATION
While the media calls it a new term to the lexicon, Greedflation has long been a part of the mega-corporations running and ruling a country near you.
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COPPER’S PRICE FALLS AGAIN AS GLOBAL ECONOMIC OUTLOOK DARKENS
On 22 May, the price of copper to be delivered two days later was $66 a ton cheaper than copper for delivery in August, the Financial Times reported, as traders expressed disappointment with China’s weak manufacturing recovery.
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TOP TREND 2023, GOING GREEN, LIKE IT OR NOT: INVESTMENT IN GREEN ENERGY POISED TO TOP OIL THIS YEAR FOR THE FIRST TIME
Roughly $2.8 billion will be invested this year to increase global energy supplies, with $1.7 billion, or about 60 percent, going to clean energy projects such as solar and wind generation, the International Energy Agency (IEA) has predicted.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
And as the numbers prove, while there are job opportunities in the low-paying service sectors, enormous numbers of middle and upper-class workers are out of work.
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EUROPE: FIRST AN ENERGY SHOCK, NOW A FOOD SHOCK
Europe’s cost of natural gas began rising sharply in the run-up to the Ukraine war as Russia curtailed gas deliveries to the continent in a show of political pressure; then gas prices skyrocketed again after Russia invaded Ukraine and the West slapped sanctions on Russia’s exports.