The Chinese economy is finishing the year in a better place than when it started, or so it seems from the economic data for the past few months, and especially November.

More mana for Warren Buffett as an other multi-billion dollar cascade of cash toppled into the Berkshire Hathaway balance sheet this week and Berkshire Hathaway shares nudged the $US300,000 mark (yes $US300,000).

As expected the US Federal Reserve has lifted its key short term interest rate for a third time this year and forecast more increases to come in 2018.

Last month’s surprise spike in business conditions was more than unwound in November, according to the National Australia Bank’s monthly survey, with business confidence also retracing.

Iron ore and oil prices prices have made some dramatic moves in the first two days on this week.

Anyone who thinks coal still has a wonderful outlook should think again and look at the recent decisions by two of the world’s biggest power equipment manufacturers to slash thousands of jobs, as well as AGL’s decision to shut its creaky Hunter Valley power station and replace it with $1.2 billion worth of renewable/gas-based power assets.

The global outlook this week will be dominated by central banks with the standout as usual being the two day meeting of the US Federal Reserve ending on Thursday and the widely expected rate rise from America’s central bank.

The ASX is looking a solid start this morning following the positive global lead on Friday night that saw the ASX 200 futures rise 23 points or 0.4%.

Good news for Australia and Australian exporters as China’s demand for commodities picked up sharply in November, surprising foreign analysts as the world’s largest consumer of raw materials lifted imports of copper, crude oil, soybeans and iron ore.

Chinese trade surged in November, and there were also scant signs of inflationary pressures, according to figures released on Friday and Saturday.

A mostly down week for commodities, with losses for iron ore, copper, gold and oil.

Further confirmation on Friday of the impact China’s surging demand for LNG is having on prices and the market.

The plight of global retailer, Steinhoff International worsened Friday morning after it lost its investment level credit rating.

Iron ore and gold prices fell heavily overnight Thursday, placing pressure on the share prices of leading miners when trading starts later today.

There’s message for all retailers from Home Depot, America’s Bunnings, which this week revealed plans to double its investment in improving its stores and staff to try and hit a $US120 billion annual sales target in the next three years.

China’s winter energy policy is starting to fracture as looming gas shortages force the central government to ease restrictions on coal use by households, especially across the northern provinces.

Could we be about to see a massive global retail collapse in the shape of the implosion of the South African global retail conglomerate Steinhoff International – a move, which it happens, would shake sections of the Australian retail sector?

Third quarter economic growth was weaker than forecast and surprisingly depended heavily on the solid growth in the jobs market as exports, consumer spending/retail all did poorly.

Steinhoff International, the parent company of one of Australia’s biggest collection of retail chains is under enormous pressure with the shares plunging on Stock Exchanges South Africa and Germany the morning after the company sacked is CEO and finally confirmed media reports of what appears to be major “accounting irregularities.”

The optimists have the ASX 200 up around 20 points in overnight trading, as they ignored a 4% plus slide in iron ore prices and focused on small rises in Wall Street stocks.

It is going to be a miserable day on the ASX, is the overnight trading on Wall Street and the futures markets are any guide, with big falls, matched by a sell down in some key commodities such as copper which suffered its biggest one day slide in two years in London and New York with losses of well over 4%.