Global Economy

World’s most expensive water: $52 per 750 mil bottle.

Saudi Arabia lies above 263 billion barrels of proven reserves of crude oil, or 18 percent of all world proven reserves. China’s arid west contains 55 million tons of rare earth ores, or half the world’s proven reserves. And the Congo’s 45,000 tons of cobalt are about 43 percent of the world’s total. Greenland, a self-governing “amt” under the Danish crown with a population of 56,000, towers above them in the thing matters most.

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Global Economy

U.S. Trade deficit in June: $42 billion

As America’s trade deficit peaked at 5.8 percent of GDP in 2006, the port of Los Angeles logged 4.4 million incoming containers, and only 1.4 million going out. Six years later, the deficit is 3.8 percent of GDP – down substantially from the peak, but up from the crisis low of 2.8 percent – and the Port is likely to finish the year with about 4.3 million inbound containers and 2.2 million outbound.

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