The week in a nutshell on beyondbrics: our most read, five things we have learnt and the week in one chart. This week: the Kospi 100.
Most read this week:
- Estonia: path to growth via austerity defies eurozone doubters, and Krugman
- Poland faces rising unemployment as slowdown bites
- Africa: China the lender of choice
- Turkish growth: up, thanks to the gold
- Brazil GDP: how slow? nobody knows
- Nicolas Maduro: from bus driver to Chavez’s political heir
- Egypt: Morsi’s second U-turn in two days
- Methamphetamine: Asia’s favourite high
- [snap]: Mexico stocks hit record high
- Walmart in India: tough steps [updated]
Five things we’ve learnt this week:
- The number of people employed in South Africa’s mining industry has declined from over 800,000 in 1986 to around 500,000 now. It could fall by another 200,000 in the next decade.
- Seizures of crystal meth in Asia surged 23 per cent in 2011 to 8.8 metric tons. In Thailand the drug retails on the street for Bt2,500-3,000 ($82-98) a gram.
- Last year’s flooding in Thailand is thought to have cost between $15bn and $20bn, according to insurance groups.
- In one Kenyan processing zone, 80 per cent of the 34 garment plants have Asian owners, as savvy Chinese companies take advantage of the African Growth and Opportunity Pact, which gives Africa countries duty-free access to the US.
- This year China is the world’s top importer of raw sugar and third-largest consumer. In China a tonne of sugar costs $900 against global prices of around $500 a tonne, a two-year low.
The week in one chart: North Korea’s rocket launch has been labelled a “highly provocative act that threatens regional security” but it seems investors are far from nervous. South Korea’s Kospi 100 index climbed to 2,007.24 by the end of the week, from 1,965.88 on Monday.
S Korea: stock market still on a roll, beyondbrics
N Korea rocket: investors have other things on their minds, beyondbrics