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Source: http://blogs.forbes.com/greatspeculations/2011/03/07/opentable-eats-well-with-smart-buy-of-toptable/
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Source: http://blogs.forbes.com/greatspeculations/2011/03/07/opentable-eats-well-with-smart-buy-of-toptable/
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This is why rising oil prices will hurt China most.
Hong Kong Newspaper Mingpao talked to Chen Geng, a former executive at PetroChina and a member of the Financial and Economic Affairs Committee of the 11th National People?s Congress. He gave us some very chilling facts.
China has some 12 million tonnes of strategic oil reserve, which is enough for 10-15 days only. To bring the reserve in-line with international practice (i.e. enough for 3 months of use), they need 60 million tonnes, which is 5 times of the reserve they currently have. As 55% of oil being used in China has to be imported from other countries, should the unrest in North Africa and Middle East be escalated which truly disrupt oil production, there?s a danger that China cannot get oil even if they have the money.
As inflation still on the upside and more tightening expected, there has been some slowdown in manufacturing growth in the recent months. I have previously pointed out that the slowdown of China manufacturing growth might have ease some demand growth of oil, but it by no means suggests that demand of oil will cease to exist. In fact, it is still going to grow. Should the unrests in North Africa and Middle East escalate, the hope for a soft-landing in China will be unlikely to come true.
Read more about China Economy
China Economy Predictions for 2011
MORE: Charts of China Economic Indicators
This article originally appeared here: China’s Strategic Petroleum Reserve Enough For 10-15 Days Only
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Naomi Allen, a state government employee in Ohio, thought she was doing the "right thing" when her marriage dissolved in 2007. As the more financially savvy of the couple (she'd helped her then-husband raise his credit score several years back after discovering it was too low to qualify for a mortgage), Allen took it upon herself to refinance her mortgage so her ex wouldn't have a legal obligation to that debt. Allen settled with the help of her divorce lawyer on an agreement that split roughly $12,000 in jointly carried credit card debt down the middle, and extracted a promise from her ex that he'd repay an additional $7,000 charged to a jointly-held card after the two had separated.Continue reading Can Your Ex Trash Your Credit Score?
Can Your Ex Trash Your Credit Score? originally appeared on WalletPop on Mon, 07 Mar 2011 06:00:00 EST. Please see our terms for use of feeds.
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