Farther north and west sits Guangzhou, capital of Guangdong province, with its newly constructed motorways and tower blocks among the rice paddies. Average incomes in Guangdong are just a quarter of those in Hong Kong, equivalent to Algeria or Costa Rica. Finally, toward the western edge of the watershed, the tributaries reach across Guangxi into Yunnan—provinces where the people have yet to get into the flow of China’s voyage of development. Incomes there are but a tenth of those in Hong Kong, on a par with those in Angola or the Republic of the Congo.
The headwinds return
Source: The Economist
Ten years ago, developing economies were catching up with developed ones remarkably quickly. It was an aberration
Sep 13th 2014 | From the print edition
NOWHERE are the consequences of different rates of growth clearer than on a trip up the Pearl River Delta in southern China. At the river’s mouth sits Hong Kong, a city in which average living standards exceed those in most rich European countries. Travel farther north and you pass the container ports of Shenzhen, behind which new skyscrapers tower over a sprawling melange of housing and factories. Since its establishment as a special economic zone in 1980, Shenzhen’s economy has grown at a frenetic pace, and incomes there are now just over half of those in Hong Kong, which is similar to what you would see in southern and central Europe.
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Study: Lack of Exercise, Not Over-Eating Behind Obesity
by Rexford Sheild, Athletic Business Intern
As our country’s obesity problem has gained more attention in recent years, many have looked to identify the root of the problem. A recent 20-year study conducted by Stanford University revealed that obesity is not due primarily to over-eating but rather a decline in exercise, which leads to increases in average body mass index (BMI). Categories examined by lead author Uri Ladabaum and his colleagues include: obesity, waistline obesity, physical activity and calorie intake.
America on the Move Becomes Stay-at-Home Nation for Millennials
By Steve Matthews and Victoria Stilwell
May 12, 2014 9:01 AM CT
Source: Bloomberg
Ryan Yang could have taken a job in a New Jersey DNA sequencing laboratory after graduating from college last year. Instead, the 23-year-old lives with his family in Queens, New York, still unemployed and searching.
Young Bankers Trade 90-Hour Weeks on Wall Street for Startups
By Dawn Kopecki May 8, 2014 11:01 PM CT
Source: Bloomberg
All Rights Reserved
It was a Friday in the fall of 2004 and Umber Ahmad had been invited to read a poem at the wedding of one of her closest friends. She was planning to catch a 7 p.m. flight from New York to Toronto when a vice president at Morgan Stanley called her in. The client in a big merger deal needed work done over the weekend. A mergers and acquisitions specialist, Ahmad had no choice. She canceled the flight and started revising her analysis of the deal, Bloomberg Markets magazine will report in its June issue.
Breakfast Champions or Chumps? How Breakfast Can Accelerate Aging
Posted: 10/09/2013 1:27 pm
Source: The Huffington Post
All Rights Reserved
Breakfast is the only meal endowed with a health merit badge. The benefits of this first course of the day, and the hazards of skipping it, have become accepted truths. Despite thin evidence, by which I do not mean skinny people, many even claim that eating breakfast helps lose weight.
Googling “breakfast benefits” draws 127 million results. Only heretics would question this morning institution.
Well, the heretics may have it right. Mounting evidence indicates that it might not be a good idea to break our fast so quickly every day. Research has shown that our overall health and vulnerability to age-related diseases (cancers, diabetes, cardiovascular disease, dementia and muscle loss) is related to something called Chronic Positive Energy Balance (CPEB).
I know it sounds strange. How could anything with “positive energy” in its name be bad? (more…)
Zell Says U.S. Homeownership Rate to Fall as Marriages Delayed
By John Gittelsohn Apr 28, 2014 4:10 PM CT
Source: Bloomberg
The U.S. homeownership rate may fall to as low as 55 percent because more Americans are choosing to rent as they postpone getting married and having children, said Sam Zell, chairman of landlord Equity Residential.
Demographic and lifestyle changes, more than economic factors, are driving down the ownership rate over the long term, Zell said today at the Milken Institute Global Conference in Beverly Hills,California. As of 2010, about 54 percent of adults were married, down from 57 percent a decade earlier, according to the U.S. Census Bureau.
“The deferral of marriage has such a staggering impact on real estate and I just don’t think people focus on it,” said Zell, 72, whose Chicago-based Equity Residential is the largest U.S. apartment landlord. “I don’t think the multifamily market has ever had a better set of future demographics.” (more…)
Retirement Reality: 5 Charts You Need to See
The time has come for Americans to face the reality of retirement planning. Considering that defined benefit plans are moving closer to full extinction each year, it’s now more important than ever for individuals to save for retirement. This is not an easy process for the majority of the workforce. However, you can improve your odds of an ideal retirement by educating yourself and planning for it as soon as possible. (more…)
Institute on Taxation & Economic Policy Report
Who Pays? A Distributional Analysis of the Tax Systems in All 50 States 4th edition
About The Institute on Taxation & Economic Policy
The Institute on Taxation and Economic Policy (ITEP) is a non-profit, non-partisan research organization
that works on federal, state, and local tax policy issues. ITEP’s mission is to ensure that elected officials, the
media, and the general public have access to accurate, timely, and straightforward information that allows
them to understand the effects of current and proposed tax policies. ITEP’s work focuses particularly on
issues of tax fairness and sustainability.
EXECUTIVE SUMMARY (more…)
The 10 most oil-rich states
Paul Ausick, Michael B. Sauter, 24/7 Wall St.8:03 a.m. EDT August 3, 2013
Source: USA Today
Ten states accounted for roughly 94% of all onshore U.S. reserves as of the end of 2011, with roughly a third of this in Texas alone — just over 7 billion barrels. In many of these states, the oil industry is a major part of their economies. Based on the U.S. Energy Information Administration’s data on proved oil reserves by states, these are the most oil-rich states in the country.
These states process the vast majority of the oil refined in the U.S. each year. Of the nation’s 139 operating refineries, 89 are located in these states. The national refinery capacity is roughly 16.7 million barrels per day. Texas, California, Oklahoma, and Louisiana alone have a capacity of more than 10 million barrels per day. (more…)
Understanding Statistics
Forget Phones Or Fast Food, More Drivers Cause Their Own Distractions In Crashes
Source: Forbes
By: Jim Gorzelany
Talk about being your own worst enemy. Becoming “lost in thought” is actually far more dangerous than talking on the phone or texting while behind the wheel, with 62 percent of all distracted driving-related traffic fatalities caused by simple daydreaming. (more…)
Americans Can’t Retire When Bill Gross Sees Repression
By Jeff Kearns, Steve Matthews and Katherine Peralta Mar 25, 2014 6:42 AM PT
Source: Bloomberg
Twelve years after retiring as a telephone repairman, Roger Wood clocks 12 to 15 hours a week at a Lowe’s Cos. hardware store near Glen Allen, Virginia.
“About the same amount I made 30 years ago,” Wood, 69, says of his $12 hourly wage. “I’m worried about my portfolio because of low interest rates, even to the point of considering full-time again.” (more…)
Stress hormones in financial traders may trigger ‘risk aversion’ and contribute to market crises
Published: 18 Feb 2014
Source: University of Cambridge
Related Article: “A ‘Frightening’ New Study Shows Traders Seize Up Just When Markets Need Them To Make Big Calls”
New study’s findings overturn theory of personal risk preference as a ‘stable trait’, and show that real source of instability in risk behaviour “lurks deep in the physiology of traders and investors”. (more…)
Frozen East Coast Pays as Law Blocks Cheaper Fuel Flows
By Natasha Doff and Naomi Christie
Feb 28, 2014 12:38 PM CT
Source: Bloomberg
As freezing weather drained stockpiles ofpropane to their lowest seasonal level in two decades on the U.S. East Coast this month, shivering New Englanders couldn’t tap abundant supplies sailing out of Texas. They had to look 4,000 miles away to more-expensive heating fuel from Europe. (more…)