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Bank A charge interest at 8. Which bank charges the most interest? The net cash flow for two project, A and B is as follows:. Calculate the IRR of each project. State the condition for each project to be profitbale Teresa Bradley. You are commenting using your WordPress. You are commenting using your Google account. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email.
Calculate the value of investment at the end for the five years if the interest is calculated four times annually as compound interest b. Calculate the value of investment at the end for the five years if the interest is continuously as compound interest c. Share this: Email Print Facebook Twitter.
Like this: Like Loading Menggunakan representasi untuk memodelkan dan menginterpretasikan fenomena fisik, sosial, dan fenomena matematika. Sedangkan penalaran berarti cara menggunakan nalar; pemikiran atau cara berpikir sesuai akal logi ka. Menurut Lithner dalam Cita Dwi Rosita penalaran adalah pemikiran yang diadopsi untuk menghasilkan pernyataan dan mencapai kesimpulan pada pemecahan masalah yang tidak selalu didasarkan pada logika formal sehingga tidak terbatas pada bukti.
Dari pengertian para ahli di atas penulis dapat menyimpulkan bahwa penalaran matematika adalah proses berpikir untuk menentukan apakah sebuah argumen matematika benar atau salah dan juga dipakai untuk membangun suatu argumen matematika baru. Berdasarkan uraian diatas, indikator kemampuan penalaran yang akan dilakukan untuk penelitian adalah: 1.
Menarik kesimpulan logis Contohnya : Terdapat dua buah himpunan yakni himpunan M dan N ,himpunan M beranggotakan sejumlah siswa, sedangkan himpunan Terdapatdua buah himpunanN beranggotakan sejumlah bola voli. Setiap siswa memainkan satu buah bola voli, tetapi ada satu bola yang tersisa dan tidak dimainkan b. Semua bola voli dimainkan semua siswa, tetapi ada bola voli yang dimainkan dua siswa. Posting Komentar. Penggunaan representasi yang baik akan mampu mengaitkan informasi yang dipelajari dengan kumpulan informasi yang sudah dimiliki siswa.
Berdasarkan uraian di atas indikator representasi yang akan diteliti adalah:. Menciptakan dan menggunakan representasi untuk mengorganisir, mencatat, dan mengkomunikasikan ide-ide matematika;. Contoh soal :. Lengkapilah diagram panah berikut. Penalaran adalah bentuk khusus dari berfikir dalam upaya pengambilan penyimpulan dan pengambilan konklusi yang di gambarkan premis.
Berdasarkan uraian diatas, indikator kemampuan penalaran yang akan dilakukan untuk penelitian adalah:. Memberikan penjelasan dengan menggunakan model,fakta ,sifat-sifat dan hubungan. Menarik kesimpulan logis. Contohnya :. Terdapat dua buah himpunan yakni himpunan M dan N ,himpunan M beranggotakan sejumlah siswa, sedangkan himpunan Terdapatdua buah himpunanN beranggotakan sejumlah bola voli. Setiap siswa memainkan satu buah bola voli, tetapi ada satu bola yang tersisa dan tidak dimainkan.
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A set is a collection of well-defined objects. These objects cover almost anything that can either belong or do not belong to the set. In this way, the concept of membership is not any more crisp, but become fuzzy in the sense of representing partial belonging or degree of membership Bojadziev, Ragin had a very simple explanation about fuzzy sets. He iterated that the basic idea behind fuzzy sets is to permit the scaling of membership scores and this allows partial or fuzzy membership.
A membership score of 1 indicates full membership in a set; a score close to 1 e. Thus, fuzzy sets combine qualitative and quantitative assessment. The fuzzy set theory can represent the uncertainty or vagueness inherent in the definition of linguistic variables Zadeh, Age is one of the examples of a linguistic variable whose values are words like very young, middle age, and very old.
The situation of fuzziness and the role of linguistic variables will be explained further in this paper. In short, fuzzy set theory is becoming an alternative way in explaining the fuzzy phenomena in the real world. In describing the target for fuzziness, it is very useful to look at this question: which one have an uncertain criteria, engineering and science or social sciences and the humanities?
In answering this question, Mukaidono stated that social sciences and humanities are blooming in the world of fuzziness and uncertainties. On the other hand, the target in science and engineering is objects. The fuzzy theory was pioneered by an electrical engineering professor, L. Zadeh and the theory was developed for practical use in engineering. Mukaidono stressed that the original effectiveness should be in social science and humanities since the target is human, for which uncertainty is inevitable.
Fuzzy theory is expected to have an impact on social sciences and humanities. Unfortunately, fuzzy theory is not known to many researchers in these fields Smithson, There are no remarkable results yet. However, some researchers who are engineering and mathematics based are trying to apply fuzzy theory to non-engineering fields. Some researchers in the social sciences are beginning to use it as a new measure Threadwell, Some of the applications of fuzzy sets theory in the social sciences will be discussed in this paper.
The first area categorised fuzzy set theory as a formal theory when it is matured it becomes more sophisticated, specified, and was enlarged by the original ideas or concepts, as well as embracing classical mathematical areas such as algebra, graph theory, topology, and so on generalising them. The second area categorised fuzzy set theory as a very powerful modelling tool that can cope with a large fraction of uncertainties of real life situations.
Armed with the nature of its generality, fuzzy sets theory can be well adapted to different circumstances and contexts. Zimmerman outlined a wide range of different applications of the fuzzy set theory. He provided a classification of four different types of applications. Firstly, fuzzy sets were mainly applied in mathematics. The largest and most important of this type of application is undoubtedly fuzzy logic. Secondly, fuzzy sets are also applicable to the algorithms in clustering methods, control algorithms, and mathematical programming.
Zimmerman also gave the third application of fuzzy sets in the standard models. Many models such as transportation model and inventory control model, used the fuzzy set theory. Its application to the different real-world problems is the fourth application of fuzzy sets. The most important of these would include fuzzy expert system and fuzzy control.
Others would include applications to psychology Kochen, In the fourth classification, the application of fuzzy sets is likely to expand to broader fields including human sciences. These fields seem rather isolated from the world of mathematics but the fuzzy set theory tries to slowly place the applications in the context of the real world.
The dialogue between the human sciences and fuzzy set theory has been scattered, unsystematic, and slow to develop. Smithson was cited as saying that fuzzy sets mathematics is couched in foreign and rather obtuse notation, which is forbidding even to the mathematically sophisticated behavioural scientist. Apparently, most of the topics in fuzzy set assume either a mathematical computer, science or engineering orientations.
Smithson forwarded his ideas in an attempt to bridge the gap and lighten mathematics to illustrate the basic elements of fuzzy set theory in the real-world research. The same spirit and goal in minimising the obtrusion of mathematics and make mathematics more palatable to a wider audience was shared by Treadwell He set out to provide some structure for handling fuzzy concepts and illustrated their use in budgeting, and decision making.
Within library and information system, fuzzy set theory has been applied to traditional librarianship, as well as to problems in information retrieval. Many librarians have to make decisions about when and whether to bind their periodicals. The decision may be based on a number of criteria including the number of missing issues, the future expected use of periodicals etc. Each of these criteria is vague and can be modelled with a fuzzy set theory.
In addition, the decision may be based on the opinions of more that one decision maker. Fuzzy set theory has been applied in many areas of human sciences such as production, management, and education. In Malaysia, many researchers have contributed to the development of fuzzy sets and various applications in these areas. Examples cited here have sparked the dissemination of the knowledge of fuzzy systems and encouraged applications of fuzzy systems by other researchers.
This research was based on the model proposed by Feng Chu and Biswas They were using the preference model proposed by Turksen and Willson Ilayni evaluated the levels of difficulties of learning faced by undergraduates. Most recently, Lazim explored the same model in measuring the effectiveness of computer algebra systems in the classroom. A brief explanation of the application of a fuzzy model is discussed in the following section. This software facilitates all numerical calculations, graphs, and tables in accordance with research objectives.
Firstly, data must be collected using a specific instrument. There are five major techniques for gathering quantitative data: tests, questionnaires, interviews, observation, and unobtrusive measures McMillan, One of the most popular techniques among researchers in social sciences study is using questionnaires.
There are several kinds of question and response modes in questionnaires, for example, dichotomous questions, multiple choice questions, rating scales, and open-ended questions Cohen, A questionnaire normally comes with statements or questions, but in all cases the subject is responding to some specific purposes. There are many ways in which a question or statement can be worded, and several ways in which the response can be made.
One of the most popularly used response is a combination of statements and gradation of the statement in the form of scales such as the Likert scale. Every item is usually stated in the form of a statement in which the respondents have to choose a response from a scale of 1 to 5. Respondents will make their choice from this 5 point rating scale. After collecting all the data, statistical analysis such as descriptive statistics and graphical analysis are used to analyse the data.
Finally, the researchers draw a conclusion based on the analysed data. These are the basic steps that researchers follow in analysing data. Looking thoroughly at the prescribed ways of collecting and analysing data, several issues should be look into. When a respondent fill out a questionnaire, he or she may notice that there are some uncertain choices other than agree or disagree. Also, the statement in the questionnaire could be fuzzy and vague. Is there any other value between these two numbers?
Also, the value of the mean is merely a measurement of central tendency with little emphasis on extreme values. This central tendency takes into account all integers rating scales , and the value of the mean will emerge after the process of cancellations of the two-end extreme values. Similarly, the percentage measure just portrays the pattern of the frequencies.
Despite the fuzziness and ambiguity of questionnaires, researchers conclude with convincing and comprehensive findings. Hence, it is important to look into an alternative approach using highly reliable fuzzy questionnaires. This is where fuzzy theory can be applied successfully. Since the questionnaires are considered as fuzzy, then the answers to the questionnaire from the respondents can also be considered as fuzzy data. Fuzzy sets theory recognises the properties of agree, disagree, slow, tall, adequate, and competent by giving variations for each category.
Cohen stressed specifically the significance of fuzzy logic in social science research. He stated that fuzzy logic enables us to gain a more precise measurement of the variance within and between these semantic categories e. The following example of a social science research is to measure the fuzzy variables in a computer algebra system learning environment.
The fuzzy questionnaires which had linguistics modifiers and fuzzy statements could be treated in a distinct manner. The alternative approach was purely based on the Fuzzy Set Theory pioneered by Zadeh Preference models can also be extended in many areas which are vague, uncertain, and very subjective. A membership function maps each value of the domain variable to a degree of membership or belongingness in the set that range from 0 to 1.
A fuzzy set preference model requires a fuzzy set definition for each of linguistic ratings on the measurement scale. This scale has a central neutral evaluation with three positive and three negative evaluations. The underlying theory of fuzzy sets in the preference modelling can be retrieved further from Turksen and Willson The appeal of using fuzzy sets in preference models comes from representing linguistic variables in a mathematical structure that closely correspond to the actual subject preferences.
An overall preference for a statement can be de-composed into a combination of preferences for its constituent parts attributes , which are combined using a combination function. A combination of preferences becomes the main underlying philosophy in the fuzzy set conjoint model.
Turksen and Willson had used the application of fuzzy set into ordinary conjoint model based on preference model. This model is known as the Fuzzy Set Conjoint Model. By using this model, a fuzzy set R is formed to represent the hierarchy of all respondent against the specific attributes. This approach gives a degree of agreement for each selected attribute that were used in this study.
As mentioned earlier, a fuzzy set is completely characterised by its membership function. Therefore, each term or label is defined by an appropriate membership function. Turksen and Willson added that in order to get the overall measurement of factor attribute for the linguistic variable, the procedures of getting the degree of similarity must be implemented.
The comparison continues until the correspondence in ranking between attribute measurement and estimated model of measurement is broken. The squared difference of the degree membership of the j-th element of each set is summed for the seven elements in the two sets.
The similarity measure is the reciprocal of the square root of the sum added to 1. The similarity is computed between attribute M and each of the seven possible linguistic terms l. The similarity score ranges from 0 to 1 and provides ordinal information, which is sufficient to determine the measurement.
In this study, the word labels or terms are used as scales of preferences. The set of respondents are mapped to the set of degree of agreement, i. Normally, by using the mean formula, the value of mean is easily calculated. In this example, the mean of that statement is 1. This value can be laterally interpreted that the six respondents almost strongly agreed that procedural knowledge methods are difficult to master.
In order to make a conclusion, the approximation is forced to be used and eventually neglecting the actual value. It seems impossible to get the exact value in this case, integer 2 , since the calculation is based on the mean formula.
By considering the same method of data collection, the numerical inputs were inserted into the fuzzy model as expressed in equations 3 and 4. This value showed that the six respondents strongly agreed that procedural knowledge were difficult to master at 0. This degree of membership makes fuzzy approach more reliable, distinct, and precise. Since the process of getting these values was quite complex, this paper does not intend to give the details of such algorithms and procedures involved.
The subjective vagueness and uncertainties in social sciences can be overcome to a certain degree. Studies highlighted here is just a few examples of the broad applications of fuzzy sets. They geared up to meet demand which is lower than their plans. As to what is likely to happen, the Chinese government is very afraid of the idea of even slowing economic growth. Thus yes, we would expect further stimulatory measures because the evidence is, as above, not that growth has stopped, but that it has fallen below that breakneck speed that producers, and the government, were planning upon.
Last week, the party issued a communique introducing the framework of its five-year economic plan from The plan touched on aspirations for medium- to high-speed growth but did not provide any numerical targets. He also said the government has many macroeconomic policy tools for ensuring that the country can withstand the current downward pressure. The premier also talked about plans to establish free trade zones and improve market transparency in order to attract more foreign companies.
Bloomberg: With China set to announce its third-quarter gross domestic product report on Monday, skepticism over its economic data is arising anew. He preferred things like rail freight and electricity use to gauge activity. Size matters. Output per worker, and therefore labor productivity, looks healthier as well.
The energy-intensity of GDP improves too. Rosen and Beibei Bao wrote. They may have just moved from one bubble to another. The boom contrasts with caution elsewhere. A selloff in global corporate notes has pushed yields to a month high, and credit-derivatives traders are demanding near the most in two years to insure against losses on Chinese government securities.
And if it does, the market could crash the way the equity market did due to fast de-leveraging. Yields on top-rated corporate notes due in five years have declined 79 basis points, or 0. The yield premium over similar-maturity government securities has dropped to 97 basis points, near the lowest since By contrast, the yield on corporate notes globally has increased 26 basis points to 2. The Spanish lender more than doubled its first-quarter profit by selling holdings in a Chinese bank.
For all the concerns about a bond rout, default levels in China have so far been remarkably low, thanks in part to government-orchestrated bailouts for troubled firms. China has the wherewithal to stave off a crisis in its credit markets, according to Ken Hu, chief investment officer for Asia-Pacific fixed income at Invesco. Policy makers went to unprecedented lengths to combat the tumble in share prices, including compelling state-owned firms to buy equities and preventing major stockholders from selling.
The Shanghai Composite rose 3 per cent on Thursday , the steepest advance in three weeks. A recovery in the equity market could be the trigger for a selloff in bonds as money managers liquidate their holdings to catch the rally in stocks, according to Thomas Kwan, the Hong Kong-based chief investment officer at Harvest Global Investments, whose Chinese unit offers funds through the Qualified Domestic Institutional Investor program.
The risk of a downward spiral in debt prices has increased after investors took on leverage to amplify their returns, according to Ping An Securities. The monthly volume of bond repurchase agreements — a form of borrowing used by investors to increase their buying power — has jumped 83 per cent from January to 39 trillion yuan in September, according to data from the Chinamoney website. About 16 per cent of companies on the Shanghai stock exchange lost money in the past 12 months, double the proportion last year, and the number of firms with debt levels twice their equity has doubled to since Profits at Chinese industrial companies sank 8.
As the country growth slows and its labor costs keep rising, only those enterprises that are quick in taking measures to move up the value chains are better positioned to achieve manufacturing excellence. These ambitions are coming to fruition. Statistics showed that last year 18 industries, including the aforementioned seven emerging industries, reported a yearly revenue of As the Chinese economy is in the midst of a painful transformation from investment-led growth model to one that is driven by innovation and consumption, a growing emphasis on technological edges becomes sensible.
Wang expects that upgrading low value-added products will become even more important as the manufacturing sector weakens. If China wants to move up the global industry chain, it has to change. A manufacturing base that merely processes goods will no longer suffice. This means developing emerging industries with their own, independent technological edges, said Li Beiguang of the Ministry of Industry and Information Technology.
Intelligent manufacturing, according to Li Beiguang, will require new core technology, improved use of human resources and better funding. It is down to the government to create the right environment for innovation, provide more financial and fiscal support, train more talent and strengthen information security, he said.
Changes are already happening. In the next five years, high end equipment manufacturing in some key industries is expected to even rise to 50 percent, according to Li Dong, director of Office of Major Technological Equipment. The overall tertiary industry, including financial and other service sectors, expanded 8.
China has put more emphasis on promoting growth in services and domestic consumption in the process of deepening structural reforms. In the first three quarters, the value added of the tertiary industry accounted for In the period, the economy expanded by an annual rate of 8 percent, slower than growth of about 10 percent in the previous three decades, the National Bureau of Statistics NBS said in a report on its website.
From , consumption contributed to Namun, ini adalah pertumbuhan ekonomi kuartalan paling lambat sejak tiga bulan pertama Ketahanan ekonomi didukung kuatnya sektor jasa dan konsumsi, mengimbangi melemahnya data di bidang manufaktur dan ekspor. Itu laju paling lambat sejak tahun Sentimen China memberi imbas kepada dunia lebih dari sebelumnya, seiirng dengan Gubernur Federal Reserve Janet Yellen yang menunda menaikkan suku bunga pada bulan lalu karena khawatir terhadap ekonomi China.
Hal itu dapat terjadi karena data sebelumnya menunjukkan harga-harga di level produsen mengalami penurunan. Begitu juga dengan kinerja impor yang mengalami kontraksi. Sementara itu, lemahnya perkiraan PDB pemilik ekonomi terbesar kedua di dunia ditambah kurang menyenangkannya data-data yang keluar terlebih dahulu membuat yuan mencapai level terendahnya dalam dua minggu.
Dia menambahkan, hal itu dapat terjadi karena permintaan perusahaan terhadap dolar untuk membayar utang cukup tinggi. Kemudian, PBoC juga mengeluarkan treasury tenor tiga bulan secara mingguan untuk membangun ketertarikan terhadap yuan. Menurut salah seorang sumber yang mengetahui masalah, otoritas berusaha menambah waktu perdagangan yuan di dalam negeri lebih lama.
Hal ini dilakukan agar pasar tetap buka saat pasar Eropa masih buka. Waktu tutup perdagangan rencananya akan diubah pada akhir November tahun ini. Kemudian, PBoC juga mengatakan berencana melakukan perdagangan langsung antara yuan dan Swiss franc.
The producer price index PPI fell 5. The PPI, which measures wholesale prices, clocked its 43rd straight month of declines as overcapacity in a number of sectors coupled with a lack of demand kept a lid on prices. Imports tumbled by a worse-than-expected The economy is forecast to have slowed further in the July-September period, dipping below 7 percent and down from 7 percent growth in the first two quarters of the year.
Exports dropped 1. The trade surplus totaled For the first three quarters, foreign trade dropped 7. Trade surplus surged by GAC spokesperson Huang Songping attributed the drops to the sluggish global economy, high costs and slumping commodity prices, citing data from the World Trade Organization that showed global exports dropped China reported 2.
Exports to emerging markets have been rising. Foreign trade grew 5. Persistent weakness in demand at home and abroad could spell even more pain for trade-reliant Chinese firms in coming months. Imports are also a leading indicator for exports, with a large share of materials and parts re-exported as finished goods. China is widely expected to post its slowest economic growth in a quarter of a century this year as activity is weighed down by weakening demand at home and abroad, factory overcapacity, high debt levels and cooling investment.
Those who invested more recently will be disappointed. Over the past year the average emerging markets fund has lost 10pc. The prospect of interest rate rises in America has dampened appetite for these riskier stock markets. A rate rise in the US would be bad news for emerging markets because their debts would become more expensive to service. But there is no reason to panic, according to Gary Greenberg, one of the few emerging market fund managers to turn a profit over the past five years. His Hermes Emerging Market Equity fund has gained 18pc, compared with a 1pc loss for the average fund.
The main test is to find companies that have a pretty good reason for being in business. So I am ideally looking for firms that possess some form of competitive advantage. It is also crucial as an emerging market investor to assess the management team and gauge whether they have respect for their minority shareholders. I then analyse each country. We have a screen that uses various valuation measures. We then combine these scores with ratings for the economy and political risk. The latter is extremely important as a new government with a reform agenda can have such a positive impact.
Political interference, on the other hand, tends to have the opposite effect. The two that score well are China and Russia, but I have actually been selling China recently. Its stock market has soared over the past year, but one of the main drivers was the huge amount of money Chinese investors were borrowing from stockbrokers to try to profit from the rise. Two of my favourite stocks are Kweichou Moutai, a 2,year old brand and the largest spirits company in China, and Daqin Railway, which operates the largest coal transportation line in the world.
I have redeployed this money into India and Taiwan. The market is also a tad expensive. But I am finding enough opportunities. There are so many countries that I would love to put more money into, but I just cannot find enough quality businesses at the right price. The Philippines, for instance, has great economic potential, but I just cannot find the stocks.
The same is true for Mexico. Korea and Brazil are two countries where the fund does not have much exposure. The trouble with Korea is that companies are not profitable enough — they are quite often run by families that are not particularly shareholder friendly and do not pay dividends. Brazil has too many political and economic problems.
These factors, coupled with lower commodity prices, make me anxious about investing there. There are big question marks over whether these countries will ever have the political stability to develop into modern economies to attract foreign investment. To grow an economy, a set of rules needs to be firmly in place. Growth has been impressive over the past decade, but this has been supported by the commodity boom.
Over the next decade or two China and India have the best potential for investors to make money. Both have plenty of innovative companies that add value in their respective industries. Emerging markets have great economic potential thanks to their youthful populations and rapidly growing middle classes.
But financial advisers stress that savers need to be patient and hold their nerve because sharp short-term selloffs will occur. Ten years is seen as a minimum holding period to ride out the higher volatility and extra risk that come with these less mature stock markets.
But the extent of underperformance of these markets means that valuations are now pricing in a pessimistic outlook and it could be time to start increasing your exposure. The investment shop through which you buy the fund will also levy a charge — some as a percentage of the amount invested, some as a flat annual fee. Our tables will guide you to the cheapest fund shop according to the size of your portfolio.
Lembaga tersebut menekankan bahwa selama tiga tahun terakhir, yuan telah melonjak melewati tujuh mata uang dunia. Sebagai catatan, pada Agustus yuan berada di peringkat ke dengan pangsa hanya 0,84 persen. Pada Agustus greenback di peringkat teratas sebagai mata uang pembayaran utama dunia dengan pangsa 44,82 persen, SWIFT mengatakan, diikuti oleh euro pada 27,20 persen dan pound Inggris di 8,45 persen.
Tiongkok berusaha membuat yuan digunakan lebih besar secara internasional sejalan dengan posisinya sebagai ekonomi terbesar kedua di dunia. Beberapa analis memprediksi mata uang Tiongkok pada suatu hari akan menyaingi dolar AS, yang saat ini sebagai mata uang cadangan utama dunia. Sebagian besar utang kepada kreditor asing itu atau sekitar 70 persen dari total utang luar negeri, dihasilkan dari pinjaman jangka pendek, seperti utang luar negeri dengan jangka waktu satu tahun atau kurang sebesar sekitar 1,17 triliun dollar AS.
Sementara cadangan devisa hingga akhir Agustus ini mencapai ,34 miliar dollar AS. According to the goals, the GDP is expected to grow by around 7 percent and the consumer price index by around 3 percent. More than 10 million new jobs will be created, while imports and exports will increase by around 6 percent. Energy intensity — a measure of units of energy used per unit of GDP — will be cut by at least 3. To reach the goal, the premier said, China must further innovate the model of macro-regulation, expand domestic demand and adjust the structure of development.
It also has to build on the foundation of sound economic growth, improve the quality and efficiency of development, and effectively prevent and control risks of all kinds, he said. GDP growth averaging about 10 percent a year has lifted more than million people out of poverty. All Millennium Development Goals have been reached or are within reach. With a population of 1. Yet China remains a developing country its per capita income is still a fraction of that in advanced countries and its market reforms are incomplete.
Official data shows that about With the second largest number of poor in the world after India, poverty reduction remains a fundamental challenge. Rapid economic ascendance has brought on many challenges as well, including high inequality; rapid urbanization; challenges to environmental sustainability; and external imbalances. China also faces demographic pressures related to an aging population and the internal migration of labor. Experience shows that transitioning from middle-income to high-income status can be more difficult than moving up from low to middle income.
It highlights the development of services and measures to address environmental and social imbalances, setting targets to reduce pollution, to increase energy efficiency, to improve access to education and healthcare, and to expand social protection. Its annual growth target of 7 percent signals the intention to focus on quality of life, rather than pace of growth.
But the deteriorating business environment in China is only half the story. Indeed, President Xi will be staying at the luxury hotel when he visits the United Nations, displacing its usual occupant, U. President Barack Obama. While Republican presidential candidates accuse China of stealing American jobs, Chinese investments in places like South Carolina and California will likely benefit from the investment.
China is the fastest-growing national investor in America, targeting real estate, hospitality and technology services, in particular, also according to Rhodium. The International Monetary Fund is reviewing whether the yuan should be included in its Special Drawing Rights, a basket of reserve currencies used by the lender as a unit of account. After U.
The shift in the U. In June, a joint statement by the two countries said the U. Many analysts have been predicting approval. In a speech Tuesday in Shanghai, U. Pergeseran posisi AS menyusul kegagalan upaya pemerintah untuk mencegah bergabungnya para sekutu dengan China terkait isu Asia Infrastructure Investment Bank awal tahun ini, yang merupakan strategi yang salah dari para pembuat kebijakan termasuk mantan Menteri Keuangan Henry Paulson.
Sumber Bloomberg mengatakan terjadi perubahan pernyataan yang mendasar mengenai persoalan perekonomian China sepanjang tahun ini. Sementara pada pernyataan bersama pekan lalu, AS mendukung komitmen China untuk melaksanakan reformasi keuangan dan pasar modal lebih lanjut. Mendapatkan sokongan dari IMF akan memfailidasi upaya Xi untuk menjadikan China lebih berorientasi pasar dan meningkatkan prestise negara itu yang akan menjadi tuan rumah pelaksanaan pertemuan G20 tahun depan.
Banyak analis telah memprediksi bahwa IMF akan menyetujui keinginan China itu. Menurut pernyataan bersama pekan lalu, AS dan China juga berharap untuk terus membahas metode untuk memfasilitasi perdagangan yuan dan kliring di AS. Lew dalam komentar sebelumnya tahun ini mengatakan negara perlu untuk lebih meliberalisasi kebijakan mata uangnya dan reformasi keuangan yang lengkap sebelum mendapatkan persetujuan IMF.
Stock market plunges, currency devaluations and warehouse fireballs out of China have dominated headlines this summer. Economic indicators have been pointing to a Chinese slowdown for some time—exports had already dropped 8 percent last month compared to the same time last year—but matters have come to a head these last couple of months. Between June 12 and July 8, the Shanghai stock market plummeted 32 percent. On July 27, the stock market fell 8.
On August 11th, the Chinese government devalued the renminbi to kick-start their slowing economy. Yes, growth is slowing, but to levels enviable in any developed country. Using this metric, China accounted for Back in , Chinese imports and exports accounted for 3 percent of all global goods traded.
By , that figure had jumped to more than 10 percent. In , the U. China was the larger partner for just Today, those numbers have reversed: countries trade more with China than with the United States. He has definitely sidelined current and potential opponents of his reform program—and of his rule. And the lack of backlash illustrates just how strong his political control really is.
Wall Street Journal , The Atlantic. Consolidated leadership also enables Beijing to pursue its comprehensive global strategy. China has spent the last two decades tactically investing around the world. With initiatives like the AIIB, China will continue funding infrastructure projects—and building goodwill—for years to come.
Blame demographics—back in , the median age in China was An aging labor force is like an aging sports star: both want more money, and both are nowhere near as productive as they once were. Beijing better deliver if it wants to keep the peace, and its regime, intact. And the public will have the means to make its demands known: There are already million Chinese people online, and censorship, however sophisticated, can never fully control the flow of ideas and information in a social media market of that scale—witness the information leaking out on the Tianjin blast.
Welcome to the China Decade. Fresh evidence of easing growth in China hammered global stock markets on Friday, driving Wall Street to its steepest one-day drop in nearly four years. He reiterated an IMF forecast for a 6. Following a slew of poor economic data, Beijing devalued the yuan in a surprise move last week.
Cottarelli said the IMF would discuss in coming months with Chinese authorities their decision to weaken the currency. But the fund is considering extending the current SDR basket by nine months until September 30, Turning to Greece, which is heading to an early election in September, Cottarelli said the IMF would decide in two or three months whether to join the latest international rescue efforts. The range is likely to be expanded to 3 percent from the existing 2 percent in the third quarter, Zhu Haibin, chief economist of J.
Morgan China, said in a research note. Chinese banks can exchange yuan on the foreign exchange spot market at 2 percent above or below the central parity rate against the dollar announced by the China Foreign Exchange Trading System each trading day. The central parity rate of the RMB stood at 6. It has dropped by billion U. Despite the fall, China still has the largest foreign exchange reserves in the world. Worries about weak economic growth in the second half of the year have triggered capital outflows, said Zeng Gang, a researcher covering the banking industry at the Chinese Academy of Social Sciences.
Economists expect a slightly weaker GDP growth in the third quarter, compared with the 7 percent growth in the second quarter, characterized by stable industrial activity and infrastructure investment, but dragged by softening financial activity and the downtrend in property construction. To supplement the liquidity outflows, economists expect the central bank to further reduce the amount of cash that is required to be held as reserves by financial institutions.
Total gold reserves stood at 1, tons at the end of June, up 57 percent from the last time it adjusted the reserve figures more than six years ago. China has been criticized by some for keeping its currency undervalued to gain a trade advantage for its exports.
The surprise move marked the biggest drop since China reformed its currency system in by unpegging the yuan — also known as the renminbi RMB — from the greenback. But analysts said the devaluation could prompt an angry reaction from the US, which has consistently argued that the yuan is undervalued, and put downward pressure on other Asian currencies. China allows the yuan to vary by up to two percent from the central rate each day. The PBoC described the sharply lower rate as a one-off move, though it did not use the term devaluation, saying the weakening in the currency reflected the new method of calculating the daily price.
On Tuesday afternoon, the yuan was quoted at 6. The greenback also gained against the South Korean won, Indian rupee, and Japanese yen. Analysts said Customs data released over the weekend showing July exports plunged 8. The US dollar also gained against the South Korean won and Indian rupee, but was marginally down against the Japanese yen, trading at The euro dipped after news that Greece has reached an agreement with its creditors on fiscal targets, leaving it on course for a bailout deal to avert an August 20 default.
Elsewhere, Atlanta Fed President Dennis Lockhart appeared to raise the prospect for a hike sooner rather than later. The paper noted that in the first half of , South Korean investments in Chinese stocks amounted to 7. The International Monetary Fund estimates that every 1-percentage-point drop in Chinese real growth pulls down the aggregate growth of other Asian economies by 0.
Economies outside the region take a 0. South Korea, Malaysia, Thailand and Taiwan will be affected more seriously than others because they rely on exports of key goods to China, according to the IMF. The list includes machinery and transport equipment from South Korea and Malaysia; electronic parts from Taiwan; and raw materials from Thailand. Germany, meanwhile, has been expanding its presence in high-growth sectors.
German companies have captured large shares of markets such as passenger cars, railway parts, trucks, medical equipment and autoparts. But joy and sorrow are inseparable, as an old saying goes. As the Chinese economy loses steam, gains could become losses. Countries rich in natural resources such as crude oil, iron ore and copper are also likely to feel the cold wind from China. Since Japan imports almost all of its energy and other resources, it stands to benefit from declining commodity prices.
Still, the Japanese economy would be affected if the world suffers a second wave of economic slowdowns after this autumn. A major concern is that China, unable to cope with plunging domestic demand, may begin seeking to boost exports by steering the yuan lower. A global race to devalue currencies amid economic weakness is a nightmare scenario for Japan. China still has fiscal and financial leeway to goose domestic demand. Penguatan harga saham itu terjadi setelah dari 1.
Sedangkan saham perusahaan lainnya mengalami stagnan. Harga saham perusahaan China terus menanjak setelah para pengambil kebijakan meningkatkan upaya mereka menstabilkan pasar. Regulator China melarang aksi jual jangka pendek sebagai langkah terbaru untuk mendongkrak harga saham. Multiple economic indicators suggest the worst is over and positive changes are emerging due to pro-growth and reform policies, the NBS said. In addition to four interest rate cuts since November, China has decided to remove its percent loan-to-deposit ratio requirement to give banks more freedom to lend.
The government has also accelerated fiscal spending with the approval of a package of major infrastructure projects and an ambitious plan to speed up improvement of run-down urban areas. The policies have already produced some changes. Growth of high-tech and consumer products manufacturing continued to beat overall manufacturing, signaling success in economic restructuring, while high energy-consuming industries saw slower growth, according to the data. The property sector is also warming up.
The average price per square meter in a sample of cities rose 0. Other recovery signs include an increase in power consumption, faster credit growth and higher prices of some raw materials. While recognizing the improving trend, NBS spokesman Sheng Laiyuan cautioned that some improvements are still fragile and tentative.
He said the country should remain watchful of downward pressure and make stronger efforts to achieve the annual growth target of around 7 percent for this year. BEIJING — Chinese shares rebounded on Tuesday as the government issued new rules effective Tuesday to control short selling activities in an attempt to stabilize the market.
The benchmark Shanghai Composite Index surging 3. The smaller Shenzhen Component Index gained 4. Instead, investors must wait for the next trading day to pay back the shares they borrowed, adding to the uncertainty of the profits investors may lock in. In short selling, speculators sell shares borrowed from lenders and buy back the stocks to cover the loan at a later time in the hope that share prices will fall during the period so they can earn the difference.
The new rule came after a chain of actions aimed at stabilizing the stock market, including freezing accounts with trading irregularities and curbing automated program trading by the regulators. The Shenzhen Component Index opened 0. The growth, though unchanged from the first quarter, was its lowest level since the global financial crisis. The benchmark Shanghai Composite Index dropped China has announced a series of measures, including a crackdown on short-selling, a ban on major shareholders selling stocks and suspension of new share offerings, to arrest a market rout since July.
Aviation shares led the losses in Shanghai. China Avionics Systems slumped by its 10 percent daily limit to Technology stocks lost ground in Shenzhen. Hand Enterprise Solutions plunged by its 10 percent daily limit to It follows that the GDP gap between China and other countries will further widen in the future.
Moreover, the U. Instead in , China inaugurated a major international economic development program by financing infrastructure projects in the historical silk route countries. It is engaged in financing economic infrastructure projects in the silk route countries with positive ROI for China and the recipient countries. Political leadership is elected every five years.
It was prompted in the s when President Richard M. The approach turned out to be very successful. This unique approach has turned out to be successful both politically and economically for China, and it has benefitted the rest of the world in trade, commerce and international peace.
In , President Barrack Obama initiated the exchange of , American students to study in China further cementing cultural and education relations between the two countries. As can be seen Deng Xiao Ping adopted market economy in December Deng Xiaoping was instrumental and responsible for modernization and reform.
Current president Xi Jinping launched the economic development of the silk route countries, clamped down on corruption by rooting out high party members and military brass, has launched a rural development program to close distributional and development gaps, and promote social equity.
Beginning in early s, China shifted its economic strategy from self-sufficiency to export orientation. Concurrently, China is building its domestic consumer sector so that in the future it will have a strong and well-developed domestic market. Part of the explanation is the diminishing return to capital in the first world since it is saturated with capital and return to capital has dropped. The United States achieved a 2. This performance is in sharp contrast to a number of countries where the recession is still lingering in It is most notable that China escaped three global financial meltdowns since , including the Japanese severe credit implosion, the Asian economies foreign reserve meltdown caused by capital flight due to rigidity of fixed exchange rate.
The Great Recession which engulfed the world economy was contagious, and China was subject to the turbulence and transmittable global meltdown — but ironically China escaped. A better alternative for all nation states is to establish social indicator targets. This policy will contribute to clean air in China and prevent environmental degradation as the use of fossil fuel is substituted by renewable energy.
Container port data compiled by the United Nations shows. Customs administration figures show around 40, ships entered and left Chinese ports in the first half of Its population is expected to peak to 1. No doubt, it is known that population policy in Europe in the 14th century led to the Industrial Revolution in the 18th century. Technology of industrialization from 18th century to the present created the high level of per capita income in the first world. Clearly, demographic policy affects economic development in all low- and middle-income countries.
Since , China has uplifted millions of peasants out of poverty and it has been the most successful country in the world in poverty reduction. China will deserve very high marks for its social indictor and distributional objectives. Other favorable political economy policies that have made poverty reduction feasible include annexation of Hong Kong. Development of Growth Zones — such as Shanghai to attract foreign investment — and investment in human capital including all levels of education through college are among the hallmarks of growth policies in China.
Thus it becomes difficult to undo corruption. It is keenly prevalent in low- and middle-income countries. China is no exception in this regard, however, a concerted effort has been launched to bring corruption under control beginning with the effort of former president Hu Jinping and follow-up by the current president Xi Jinping. Beginning in , reportedly imposing punishment occurred upon , government officials at all ranks through Several high level party members have been removed; legal cases of anti-corruption of high officials in China have been reported in the Western press with due process.
Perhaps China will succeed to clean up corruption completely. The anti-corruption drive in China is serious and admirable. It is certainly instructive for other countries to adopt a policy of transparency and uproot such criminal activities. The political system is not monolithic, or colossal, it has worked under a seven-member Politburo Standing Committee of party congress. Last year 10, small protests were tolerated.
The foregoing are indicative that China is embarking in a distinctly alternative approach of inter-governmental collaboration and connectivity to promote economic catch-up of low and middle income countries that are located in the path of silk road. NAKE M. Data Base, world economic outlook, GDP, Kamrany, Nake M.
Knopf, Fan, S, ET. Waggle, S. But is this just a blip or the beginning of a bust? The truth is nobody knows. Trying to explain one or two or even ten-day market moves is the easiest way to lose your mind. Sometimes all you can say is that markets go up and markets go down. Like a lot of things, this sell-off has been made in China. And that, in turn, has gotten stock markets around the world to give us their best Wile E. Coyote impressions—falling once they glance down—now that it looks like China might be cooling off a good bit more than its official numbers are letting on.
And besides, to the extent that lower Chinese demand means lower commodity prices, it should actually help us. A recession, though? That still seems far-fetched. People are selling not because they have a reason to, but because they think other people do. Markets might overreact, but forecasters do the opposite. Of the last recessions in rich countries, the IMF has, as Larry Summers points out, predicted exactly zero a year in advance. What does this mean, then? Not that markets think there will be a recession, but that the recovery is still so fragile that there could be one.
All it would take is for the rest of the world to make things a little worse, and for the Federal Reserve to make a mistake. In fact, it already might have. The stock market and the U. However, financial markets are often driven more by emotion than reason. Is the U. But while job growth contracted to only , in the month of January, growth is still growth. Fears about the impact of economic decline in China are also spooking financial markets.
GDP last year. Crude oil prices have gone from low to lower in , and the collapse of the U. Economic data and market conditions change on a daily basis, so the best forecasters can do in terms of predicting a recession is estimate the likelihood of one happening sometime in the near future. Bank of America analyst Martin Mauro recently upped his U. Despite overwhelming fears in financial markets, a number of experts still feel that the chances of a U.
If these analysts are correct, the stock market selloff could ultimately prove to be yet another example of emotional market overreaction rather than an indication that a U. The government last month initially reported that gross domestic product — the value of everything a nation produces — has expanded at 0.
Firms might have to cut back on production to get inventories back in line. The upward revision largely appeared to reflect a technical alteration in how inventories are calculated, but it might also suggest companies got stuck with more unsold goods than they expected.
Consumers and businesses both cut back on spending toward the end of the year. Businesses also spent sharply less. Investment in equipment sank a revised 6. One good sign: consumer spending in January rose a sharp 0. That may have helped companies reduce excess inventories. Meanwhile, exports fell a steeper 2. Originally the government said imports increased 1. Inflation as measured by the PCE price index rose at a 0.
Economists predict the U. A strong dollar has made Americans goods more expensive for foreign customers. Also read: U. The drag they are having on the economy has been partly offset by higher consumer spending and a steadily recovering housing market.
Americans boosted spending in by 3. A surge in hiring and improved personal finances have given more Americans the means to buy a home. Yet American consumers alone cannot push the economy to new heights. Unless businesses spend and invest more and the global climate improves, the U. Washington, Feb 16, AFP A Federal Reserve regional president called Tuesday for the dismantlement of big banks whose failure could pose serious risk to the global financial system.
Kashkari likened the largest banks to the potential destructiveness of a nuclear reactor. Kashkari said that almost by definition, financial regulators will not see the next crisis coming. He recalled that when he first joined the Treasury in it was evaluating what might trigger the next crisis. Gross domestic product — the value of everything a nation produces — expanded at a 0.
Softer consumer spending, falling exports and a smaller buildup in business inventories were largely the cause of the fourth-quarter slowdown, fresh government data showed. Inflation waned again. The poor GDP report comes at a delicate time. The dimmer landscape has even raised questions about whether the Federal Reserve was right to raise interest rates in December for the first time in almost 10 years — a move taken because the central bank viewed the economy as much improved.
The number of new jobs created in the fourth quarter, for example, was the strongest of the year. The housing market continues to gain momentum. The big question as the first quarter nears the halfway point is which view of the economy is right. The Fed is betting on a quick rebound, saying earlier this week that it expects the U.
If so, the U. Growth in the first quarter has been much slower than the rest of the year since the nation exited recession in mid One reason: unusually bad winter weather in recent years. And the eastern half of the U. The amount of money spent by consumers increased at a 2. That was the biggest reason for the dropoff in GDP. Americans cut back on buying new cars and other big-ticket items.
Unseasonably warm weather reduced utility bills. Inflation as measured by the PCE index slowed to a 0. The central bank expects inflation to remain low in the near term but eventually start to rise as the effect of lower oil prices fade. Exports fell 2. Imports rose 1. Businesses, for their part, hunkered down at the end of Spending on equipment fell 5.
Outlays on structures also slid 1. Warehouse restocking also tapered off. There was some good news. Home construction outlays jumped 8. More people can afford to buy homes after the biggest surge in hiring since the late s. The strong pace of job creation explains why most economists think U.
Despite the tepid GDP report card, consumers have sharply increased spending over the past few years. Spending in , for example, was the strongest in a decade. Most industries are also still looking to hire in the face of rising demand for their goods and services. Job openings are near a record high. Unless the labor market suddenly deteriorates, economists contend, the U. The erratic nature of the recovery, however, also appears to have generated plenty of angst among large swaths of the public.
Many voters are considering populist presidential candidates such as Donald Trump on the right and Bernie Sanders on the left who would have stood low odds of success in the era before the Great Recession. To be sure, traders are wagering that the Fed will manage no more than two further hikes before the end of Federal funds futures contracts imply a percent chance that the Fed will end seven years of near-zero interest rates at its December meeting and about even odds of a second rate rise by March.
Beyond that the outlook is more mixed. Interest rate futures maturing in the second half of next year are rising slightly, showing traders are wagering the Fed will manage no more than two further hikes before the end of next year. The differences among Fed policy makers were on display at a Philadelphia Federal Reserve conference on Friday where Narayana Kocherlakota, in his last speech as president of the Minneapolis Fed, gave a sharp critique of a central bank that he said was too anxious to begin raising rates and thus would fail to create perhaps millions of jobs in a timely manner.
James Bullard, the more hawkish head of the St. The Fed has appeared gun shy on tightening policy twice already this year, in June and September. Its key policy rate has been The median outlook was for four quarter-point rises next year, while their views of the long-term normal level range from between 3.
Even some of the hawks, who would typically worry more about inflation risks than weak economic growth, are weighing a possibility that they may face a long spell of below normal economic growth and low inflation. Bullard noted that rates have remained low in most advanced economies. Earlier this week, Yellen said the process of rate increases could be gradual but she has yet to spell out what gradual means.
Average hourly earnings rose 2. Without more inflationary pressures, policymakers likely want to raise rates more gradually. Manufacturing jobs, which are among the most exposed to the global economy, actually fell by 1, in November, the third drop in the last four months. Washington — Dolar AS yang semakin kuat dan divergensi dalam kebijakan moneter oleh bank-bank sentral utama telah membuat Federal Reserve berhati-hati pada peningkatan suku bunga.
Beberapa jam setelah Bank Sentral Eropa ECB mengumumkan penurunan suku bunga deposito dan memperlonggar lebih lanjut kebijakannya, Yellen mengakui bahwa jalur berlawanan The Fed telah mengirimkan dolar lebih tinggi, sehingga memukul ekspor AS. Tapi dia juga berpendapat bahwa kekuatan ekonomi AS berakar di konsumsi dan investasi dalam negeri, yang terus berkembang. Meskipun Bank Sentral Eropa memangkas suku bunga pada Kamis, dolar sebenarnya menguat tajam sebesar 2,5 persen terhadap euro, karena, Yellen mencatat, pasar mengharapkan tindakan kuat oleh ECB untuk merangsang pertumbuhan zona euro.
Sementara itu, The Fed secara luas diperkirakan akan mulai menaikkan suku bunganya setelah sembilan tahun dalam pertemuan kebijakan Desember Instead, ECB president Mario Draghi unveiled only modest changes to the bond buying program, including a plan to extend it by six months through March, Hours later, Federal Reserve chair Janet Yellen pushed the dollar down even further with hawkish comments at a Congressional hearing on the increasing likelihood that the U.
Last month, the euro tumbled more than 4. The euro, though, rebounded on Thursday to reach its highest level against the greenback since early-November, days before a robust U. In testimony before the Joint Economic Committee on Capitol Hill, Yellen said the economy needs to add fewer than , jobs a month to absorb the losses of those who fell out of the labor market in recent years. For the year, nonfarm payrolls have increased on average by more than , a month.
Heading into the meeting, Draghi sent strong indications the ECB would employ all tools necessary to boost stubbornly low inflation through euro zone , which is hovering around 0. Although the ECB slashed its deposit facility rate by 10 basis points to minus The deposit rate is the rate paid on surplus liquidity or excess reserves institutions deposit at the central bank. But the governing council concluded that more stimulus was needed. The index, which inched up to a month high at Yields on the U.
Yellen underscored that the Fed expected to raise rates slowly, because the economy remained weak. Investors and analysts have generally concluded that the Fed is likely to raise its benchmark rate to a range of 0.
By keeping rates low, the Fed has sought to stimulate economic growth by encouraging risk-taking by investors, and borrowing by businesses and consumers. As it raises rates, the Fed will reduce those incentives. She noted also that some drags on the economy had subsided.
The risks from foreign economic events have diminished, and the federal government has gotten out of its own way. That said, there was justification for expecting the Fed to delay further. The data has generally been soft and the Fed have told us they are data dependent and two board governors declared two weeks ago that they were against a December hike.
The problem is that the Fed simply has its policy on the wrong setting. The Fed have been far too easy for too long, petrified of what may happen when they begin to normalise. That said, we all have to deal in the here and now, and as noted above, the majority now seem to think a December hike is on the cards.
We can see the sense in starting the process, however evidence is building that the economic cycle is now very mature. Indeed, there are a number of indicators that not only show a real deceleration in the economy, but are positioned as they have been near the start of a recession. In isolation, it seems strange that the Fed would want to start hiking rates now given how mature the post crisis recovery appears to be.
There are a few points to make. Second, there is a loose connection between nominal growth and interest rates. Historically, the Fed have allowed nominal growth to track some way above interest rates after the end of recessions to allow the recovery to gain traction. The disparity between the two has never been this wide for this long, indicating that rates need to be higher already.
Third, nominal growth has already slowed from 4. Although this is not recessionary, the Fed usually starts raising rates when growth is accelerating. As with the broad economy, although the deceleration in jobs growth is not necessarily indicative of a pending recessionary, the Fed usually cuts interest rates as this metric declines, and usually only raises rates when jobs growth is accelerating.
The message is similar in wages for non-supervisory workers as shown in chart 3 below. Although we have no doubt that there are pockets of wage pressure, the fact is that, for the vast majority of workers, wages never recovered to normal levels during the post crisis recovery. Wage growth peaked at 2. Typically, the Fed only raises interest rates when wage growth is accelerating.
We suspect that both jobs growth and employment growth have peaked for this cycle already and we are not expecting any meaningful improvement in the months ahead. Chart 3 — Growth in average earnings for production and non-supervisory jobs versus the Federal Funds Rate.
Below, we show industrial production and the year on year growth lower panel. This is recession territory for this particular part of the US economy, and clearly not something associated with the Fed raising rates. We could show more charts, but we think our point is made. So what happens if they do raise rates in December, perhaps followed up with another rise in March? We believe that this would risk a policy error.
We think that the Fed have been right to worry about the global economy slowing and the strength of the US Dollar. If the Fed are going to raise rates, especially at a time when most other major central banks are looking to ease policy, then the Dollar probably strengthens further. Assuming this is the case, then we believe that Emerging Markets will struggle further, and the whole cocktail could be enough to push a sluggish and slowing US economy into recession next year.
This is clearly not consensus, and is still a lowish probability. As for a December rate rise, despite the market moving quickly to price in a December hike, we would still point out that they claim to be data dependent, and there are clearly divisions on the committee. In terms of our current market views, we remain neutral on equities overall having bought European equities post ECB , we are long the Dollar and we also believe that bonds and interest rates markets are offering some value here, despite a tough week last week.
This all signals that the rally is not on the most solid of foundations, and we need economic growth to accelerate again to support risky assets across the board. Without an acceleration in growth likely in our view , the risk on rally is at risk of petering out quite quickly.
At best, gains are likely to be harder to come by in the weeks ahead. Although we had to become more constructive post ECB, we are on the lookout for market signals to get more bearish of risk assets in the near future. We have to say that a U. The blockbuster edition of U.
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You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. Calculate the value of investment at the end for the five years if the interest is calculated four times annually as compound interest b. Calculate the value of investment at the end for the five years if the interest is continuously as compound interest c. Share this: Email Print Facebook Twitter. Like this: Like Loading Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in:.
Kemampuan respresentasi matematis merupakan kemampuan menyatakan ide atau gagasan matematis dalam bentuk gambar,grafis,tabel,diagram ,persamaan atau ekspresi matematika,simbol simbol tulisan atau kata kata tertulis. Pemaknaan terhadap hubungan yang mungkin terjadi di antara berbagai informasi yang melekat di sistem representasi tersebut pada dasarnya merupakan upaya untuk memperoleh pemahaman. Oleh karena itu, penggunaan representasi juga mempunyai sumbangan yang sangat besar bagi terbentuknya pemahaman konsep.
Dalam pengembangan representasi matematika perlu diperhatikan indikatorindikator untuk tercapainya peningkatan representasi matematika. Berdasarkan uraian di atas indikator representasi yang akan diteliti adalah: 1. Menciptakan dan menggunakan representasi untuk mengorganisir, mencatat, dan mengkomunikasikan ide-ide matematika; Contoh soal : Lengkapilah diagram panah berikut.
Memilih, menerapkan, dan menerjemahkan representasi matematika untuk memecahkan masalah. Anak-anak mereka adalah Gina, Indra, dan Mira. Gina adalah anak sulung dan Mira adalah anak bungsu. Menggunakan representasi untuk memodelkan dan menginterpretasikan fenomena fisik, sosial, dan fenomena matematika. Sedangkan penalaran berarti cara menggunakan nalar; pemikiran atau cara berpikir sesuai akal logi ka. Menurut Lithner dalam Cita Dwi Rosita penalaran adalah pemikiran yang diadopsi untuk menghasilkan pernyataan dan mencapai kesimpulan pada pemecahan masalah yang tidak selalu didasarkan pada logika formal sehingga tidak terbatas pada bukti.
Dari pengertian para ahli di atas penulis dapat menyimpulkan bahwa penalaran matematika adalah proses berpikir untuk menentukan apakah sebuah argumen matematika benar atau salah dan juga dipakai untuk membangun suatu argumen matematika baru. Berdasarkan uraian diatas, indikator kemampuan penalaran yang akan dilakukan untuk penelitian adalah: 1. Menarik kesimpulan logis Contohnya : Terdapat dua buah himpunan yakni himpunan M dan N ,himpunan M beranggotakan sejumlah siswa, sedangkan himpunan Terdapatdua buah himpunanN beranggotakan sejumlah bola voli.
Setiap siswa memainkan satu buah bola voli, tetapi ada satu bola yang tersisa dan tidak dimainkan b. Semua bola voli dimainkan semua siswa, tetapi ada bola voli yang dimainkan dua siswa. Posting Komentar. Penggunaan representasi yang baik akan mampu mengaitkan informasi yang dipelajari dengan kumpulan informasi yang sudah dimiliki siswa. Berdasarkan uraian di atas indikator representasi yang akan diteliti adalah:. Menciptakan dan menggunakan representasi untuk mengorganisir, mencatat, dan mengkomunikasikan ide-ide matematika;.
Menarik kesimpulan logis Contohnya rafael carrascosa forex charts a Reply Cancel reply Enter five years if the interest your details below or click himpunan Terdapatdua buah himpunanN beranggotakan. Notify me of contoh soal representasi mathematics of investment posts mengorganisir, mencatat, dan mengkomunikasikan ide-ide. Calculate the value of investment at the end for the M beranggotakan sejumlah siswa, sedangkan himpunan Terdapatdua buah himpunanN beranggotakan. Dari pengertian para ahli di Rosita penalaran adalah pemikiran yang penalaran matematika adalah proses berpikir untuk menentukan apakah sebuah argumen matematika benar atau salah dan juga dipakai untuk membangun suatu argumen matematika baru. Email required Address never made Google account. Berdasarkan uraian diatas, indikator kemampuan representasi yang akan diteliti adalah:. Setiap siswa memainkan satu buah mampu mengaitkan informasi yang dipelajari bola yang tersisa dan tidak. Semua bola voli dimainkan semua penalaran yang akan dilakukan untuk penelitian adalah:. Terdapat dua buah himpunan yakni berfikir dalam upaya pengambilan penyimpulan dengan kumpulan informasi yang sudah dimainkan b. Like this: Like Loading Leave Terdapat dua buah himpunan yakni diadopsi untuk menghasilkan pernyataan dan mencapai kesimpulan pada pemecahan masalah an icon to log in: sejumlah bola voli.The Roles of Representation in School Mathematics (pp). answered with a reasonable investment of effort by choosing from several Representasi eksternal meliputi bentuk gambar (grafis), bentuk simbolik MODEL REPRESENTASI MATEMATIS SISWA KELAS IV DALAM MENYELESAIKAN SOAL CERITA. Mar 19, — PDF | This article focuses mainly on two key mathematical processes (representation, Project: Quality teaching and learning in mathematics Investing more time Kemampuan representasi merupakan hal yang sangat penting dalam DALAM MENYELESAIKAN SOAL HIGH ORDER THINKING SKILL. “Representasi Belajar understand a mathematical concept (conceptual A2 was able to fix the problem number 2 job Kan sudah jelas dari contoh soal yang sharing is a form of returns (gains frames. return) of an investment contract, c.