Source: RT – China leaves US behind as world’s top trader
For the first time in centuries China has overtaken the US as the world’s biggest trading nation, with total trade standing at $4.16 trillion in 2013.
Source: Want China Times – Gold purchases surge in China as prices slump in run-up to Spring Festival
Many shops selling gold in Beijing are catering to a steady stream of customers interested in buying the precious metal after gold prices started decreasing.
Source: Bloomberg – Singapore’s Developers Move From Best to Worst
Singapore’s developers posted the worst performance on the benchmark Straits Times Index (FSSTI) this year after recording the biggest gains in 2012 as property curbs drove home sales lower and slowed price gains.
Source: Bloomberg – Japan Wages Pressured by Fastest Inflation Since 2008
Japan’s inflation accelerated to the fastest pace since 2008 last month, bringing the rate closer to policy makers’ target while threatening to erode household spending power unless employers boost wages.
Source: Times of India – Smugglers smile as NRI carriers bring gold into country legally
Faced with curbs on gold imports and crash in international prices leaving it cheaper in other countries, gold houses and smugglers are turning to NRIs to bring in the yellow metal legally after paying duty. Any NRI, who has stayed abroad for more than six months, is allowed to bring in 1kg gold.