Since China opened the flood gates to foreign investment in the 1990s, the country has significantly outpaced the developed world, especially the US, in terms of economic growth (see Chinese vs. US real GDP growth chart). Consequences of China’s success have included increased urbanization (see population chart) and a burgeoning middle class. Never before in […]
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Alcoa
Kicking of the 2Q09 earnings season Alcoa (AA) reported a loss yesterday of US$0.26/share compared to analysts’ average estimate of US$0.38/share. The company accredited the better than expected result to workforce reductions and production cuts. CEO Klaus Kleinfeld said in a statement, “Alcoa has the staying power and reduced cost base to withstand the most […]