Asia Takes a Hit
Slowing world demand is crippling some Asian economies. China’s economic growth is slowing, India is suffering, and South Korea and Taiwan are plunged into a severe recession of their own.
Archive for the 'International Economy' Category
Pictures of a Global Recession
Graphic depiction of the extent and depth of the global recession now affecting the world’s economies.
Chinese Yuan To Fall in Coming Months
A report from Hong Kong states that the yuan is set to fall for about the next six months. The Chinese monetary authorities have signaled they will allow the fall by small amounts in order to make Chinese exports more attractive to foreigners. The China economy is heavily dependent on exports, and a strong yuan [...]
China Turns Inward For Economic Growth
Speaking at the Clinton Global Initiative conference in Hong Kong, the chairman of China’s sovereign wealth fund , Mr. Lou Jiwei, said on Wednesday that China had no plans for further investments in Western financial institutions. “Right now we do not have the courage to invest in financial institutions because we do not know what [...]
U.S. and World Economies–Slow, Slower, Slowest
There is no good news today for the world’s economy, including America. In the United States, the monthly survey of business by The Institute for Supply Management showed that manufacturing activity fell to 36.2 from October’s 38.9. A figure below 50 indicates the sector is contracting. The Associated Press reports: “The November reading is the [...]
International Economic Growth:OECD Estimates for 2009
The OECD has released its estimates for growth in the major economies for 2009. Robust growth is seen in China and India. Less, but still good growth for Indonesia, while Russia, Brazil, and South Africa are less than robust, but still growing. Australia and Turkey are growing, but even less than the others.
For most of [...]
Report of the G-20 Meeting
Here is a link to the full text of the press release of the attendees: Press Release of G-20 Members
There were two agendas at the G-20 meeting on Saturday:
Strengthen the world’s economies and reduce the effect of the world-wide recession that is getting worse daily.
Find a way to share the authority over the structure of [...]
Brief on the G-20 Conference Today in Washington
The emergency meeting of the Group of 20 this Saturday, November 15, was called because the world’s financial system is broken. The meeting was suggested by French President, Nicolas Sarkozy to President Bush. Although Mr. Bush did not want to take up the issues that will be brought up at the meeting, he agreed to [...]
Economy: It’s Worse Than We Think
The evidence is mounting that the American economic downturn is going to be much worse than generally thought. A downturn that was thought to see unemployment at 8%, which is a recession level, is seen now to have an easy potential of 9% or 10%–levels not seen for decades–a deep recession.
Here are the culprits:
Falling home [...]
China Shows Signs of Slowing
After years of hyper growth, averaging close to 10% a year, the great engine of growth that is China, is faltering. A series of government reports released over the last few weeks indicated that China’s exports are moderating. Real estate construction projects are being suspended. Consumer confidence is in decline. And many factories in southern [...]
