Good news and bad news

What is good news this week? China has reported very strong exports. What is bad news then? Germany has ruled out debt relief for Greece. People may ease their fear of the Chinese economy slowdown accelerating; however, many non-European shareholders of the IMF are not willing to grant Greece any more special treatment. In the worst case, it could cause the collapse of the Greek economy as its economic growth heavily depends on the loans given by other countries and widely spread its effect towards the EU and global. OPEC is meeting this weekend. Although with any possible outcomes, it is impossible to push the oil price back to its previous level, it may help to further stabilize the oil price and restore confidence for some oil exporting countries. To conclude, the global economy may gain some positive momentum, but the downside possibility remains.