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Jim O’Neill: The U.S. fiscal cliff now a greater market concern than the eurozone crisisSituation in Washington risky “because we’re not sure which way the politics are going to go”While eurozone debt crisis continues, markets appear more confident the euro will hold”When the markets press them … these guys are going to do things to keep the euro alive” Despite the long, drawn-out debt dilemma in the eurozone — or in way, because of the prolonged worries there — the looming fiscal cliff in the U.S. is now the top concern of Goldman Sachs’ Jim O’Neill.”I think the U.S. thing [...]

MEXICO CITY Finance chiefs of the world’s leading economies are ringing alarm bells over the U.S. fiscal cliff and Europe’s debt woes at a meeting in Mexico this weekend as they look to push back deficit reduction targets to help boost growth. Unless a fractious U.S. Congress can reach a deal, about $ 600 billion in government spending cuts and higher taxes are set to kick in on January 1, threatening to push the American economy back into recession and hit world growth. But with the U.S. presidential election looming on Tuesday, dealing with the fiscal cliff has been delayed. [...]

TOKYO Asian shares fell on Monday on growth concerns ahead of the third-quarter corporate earnings season, while the euro slipped against the dollar on a lack of clarity over Spain’s bailout prospects. As risk-sensitive assets retreated, the dollar index measured against a basket of six major currencies gained 0.3 percent, undermining dollar-denominated commodities. The euro slipped 0.3 percent to $ 1.2909 as Europe muddles through debt relief measures for debt-saddled Spain and Greece. A stronger dollar and worries that a slowing global economy may further dent fuel demand pushed U.S. crude futures down over $ 1 to $ 90.82 a [...]

Hong Kong – Will China’s economy have a hard landing, soft touchdown or slow ascension?The lack of strong action Thursday from the European Central Bank on Europe’s spiraling debt crisis – coupled with similar inaction from the U.S. Federal Reserve on the slowing U.S. economy earlier this week – has ratcheted global investor stress on how China will handle its own slowdown.The question percolated throughout interviews on CNN International business shows this week.“It is quite disturbing that Brazil and India have slowed down so much, obviously there’s this huge debate going on about China’s slowdown,” Jim O’Neill, chairman of asset [...]