Thursday 5th July

China’s Stocks Decline Most in Week on Property, Bank Concerns
China’s stocks fell, dragging down the benchmark index by the most in a week, on concern proposed rules for banks may curb credit growth and speculation intensified the government won’t loosen property restrictions.
{http://www.businessweek.com/news/2012-07-04/china-s-stock-futures-fall-on-europe-economic-slowdown-concerns}

Graph ratio of SHCOMP/ HKX

Church vs beer: using Twitter to map regional differences in US culture

A team of geo-data experts from Floatingsheep.org have used geolocated Tweets to gauge differences in culture across the US.

{http://www.guardian.co.uk/news/datablog/2012/jul/04/us-fourth-july-twitter-beer-church}

BRIC equities at lowest valuations in seven years

As of early this week, emerging market equity exchanges were trading at their lowest valuations in relation to the global economy in seven years. For 2012, the BRIC economies are expected to produce 20% of the world’s GDP; however, the aggregate stock market capitalization is only represents 16% of gross equity investment.

{http://emergingmoney.com/bric/bric-investors-eem-pbr-vale/}

“Brics are priced for a meltdown: The biggest emerging markets are contributing more than ever to the global economy as their proportion of the world stock market shrinks, leaving investors with the widest valuation gap in seven years.” (http://www.bloomberg.com/news/2012-07-02/brics-priced-for-economic-meltdown.html)

How Stockton went broke: A 15-year spending binge

(Reuters) - The man in charge of the biggest U.S. city ever to file for bankruptcy is clear about the root of the crisis.

{http://www.reuters.com/article/2012/07/03/us-stockton-bankruptcy-cause-idUSBRE8621DL20120703}

THE ORIGINS OF MISBEHAVIOUR

Why do people in positions of power behave badly? A new paper shows how experimental economics can shed light on this question

{http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2012/07/the-origins-of-misbehaviour.html}

Cheap Lobster? Go to Maine

PORTLAND, Maine — A glut has driven down lobster prices in Maine — bringing cheer to lobster-loving consumers at the start of the state's tourist season but gloom among lobstermen.

{http://www.msnbc.msn.com/id/48047467/ns/business-us_business/t/maine-lobster-cheaper-bologna/#.T_MngitYuiQ}

Chinese corruption and looting on a vast scale: industry, government, and military

Here's a well-cited and pretty scary article describing the vast scale of corruption at the highest levels in China, and the extent to which "the success of 300m Chinese who live in western level prosperity depends on the continued exploitation and good nature of one billion people who live on an average of $5000 per annum.

{http://boingboing.net/2012/06/28/chinese-corruption-and-looting.html?utm_source=dlvr.it&utm_medium=twitter}