19 April 2019

Macro Economy

  • A sharp rise in industrial output helped China report better-than-expected GDP growth figure for the three months to March. Photo: Reuters

    China first-quarter GDP growth tops expectations at 6.4%

    Apr 17, 2019 1:18pm
    China’s economy grew 6.4 percent in the first quarter of 2019 compared to the same period last year, defying expectations for a further slowdown, official figures released on Wednesday showed. A sharp rise in industrial production...
  • If China can sustain a 4 percent growth in real GDP for next 20 to 30 years, its economy may exceed that of US plus EU. Photo: Bloomberg

    China makes some good policy moves, but more needed

    - Apr 17, 2019 10:26am
    China’s late paramount leader Deng Xiaoping put in place a pragmatic reform and opening-up policy, paving way for the nation’s economic miracle. In terms of economic development, China has taken only 40 years to complete the...
  • Agriculture is a 'red line' and it will certainly not be part of Europe's trade negotiations with the US, says EU Trade Commissioner Cecilia Malmstrom. Photo: Reuters

    EU says ready to launch US trade talks, but without agriculture

    Apr 16, 2019 9:03am
    The European Union is ready to start talks on a trade agreement with the United States and aims to conclude a deal before year-end, European Trade Commissioner Cecilia Malmstrom said on Monday, Reuters reports. The EU...
  • A file picture shows China's Vice Premier Liu He (C) in conversation with US Treasury Secretary Steven Mnuchin (R) and US Trade Representative Robert Lighthizer (L) at Diaoyutai State Guesthouse in Beijing on March 29. Pool photo via Reuters

    US waters down demand on subsidies in China trade talks: report

    Apr 15, 2019 11:11am
    US negotiators have tempered demands that China curb industrial subsidies as a condition for a trade deal after strong resistance from Beijing, Reuters reports, citing sources familiar with the matter. In the push to secure a...
  • The protectionism of some countries has harmed mutual trust among nations and limited the scope for multilateral cooperation, says PBoC deputy governor Chen Yulu. Photo: Bloomberg

    China denounces protectionism in swipe at US trade policy

    Apr 15, 2019 8:56am
    Protectionism has harmed mutual trust among countries and limited the scope for multilateral cooperation, a Chinese central bank official said on Saturday, taking a swipe at the Trump administration’s “America First” trade policies, Reuters reports. Chen...
  • US President Donald Trump has suggested that the Fed should return to quantitative easing. Photo: Reuters

    Trump calls for crisis-era stimulus

    Apr 15, 2019 8:36am
    The Federal Reserve’s actions have nicked economic growth and stock market gains, US President Donald Trump said on Sunday, calling on the central bank to consider pumping money into the economy as it did during the 2007-2009...
  • China will struggle to attain growth above 5 percent in the 2021-2030 period, for the simple reason that its workforce growth will have peaked. Photo: Xinhua

    The future of economic growth

    - Apr 12, 2019 10:41am
    Last month, I wrote about the growing divide between economic theory and real-world economic conditions, and reminded readers that economics is still a social science, despite whatever loftier ambitions its practitioners may have. Nonetheless, when it...
  • The G24 says it stands ready to cooperate in the effort to build 'a modern, open, rules-based, non-discriminatory and equitable multilateral trading system.' Photo: Bloomberg

    G24 ministers seek collective solution to trade tensions

    Apr 12, 2019 9:15am
    Top finance officials from emerging market economies on Thursday called for a collective global response to resolve ongoing trade tensions within a rules-based trading system, Reuters reports. In a communique from finance ministers of the so-called...
  • IMF Managing Director Christine Lagarde speaks at a news conference during the IMF and World Bank spring meetings in Washington on Thursday. Photo: Reuters

    IMF chief says Brexit delay averts ‘terrible outcome’

    Apr 12, 2019 9:06am
    The head of the International Monetary Fund said the six-month delay of Britain’s exit from the European Union avoids the “terrible outcome” of a “no-deal” Brexit that would further pressure a slowing global economy but does...
  • Workers sort cuts of fresh pork at a processing plant in Zhengzhou, Henan province.  Consumer inflation quickened as pork prices soared due to a growing epidemic of swine fever. Photo: Reuters

    China producer inflation picks up for first time in nine months

    Apr 11, 2019 12:11pm
    China’s factory-gate inflation picked up for the first time in nine months in March, edging away from deflationary territory, in a fresh sign that government efforts to boost the economy may be starting to revitalise domestic...
  • US Treasury Secretary Steven Mnuchin said progress continues to be made in the trade talks. Photo: Bloomberg

    US, China to establish trade deal enforcement offices: Mnuchin

    Apr 11, 2019 8:49am
    US Treasury Secretary Steven Mnuchin said the United States and China have largely agreed on a mechanism to police any trade agreement they reach, including establishing new “enforcement offices”, Reuters reports. Mnuchin, speaking on CNBC television,...
  • The US Commerce Department will put entities on the “unverified” list if the organizations decline to answer questions about how US goods are used. Photo: Xinhua

    US puts 37 Chinese firms, schools on red-flag ‘unverified’ list

    Apr 11, 2019 8:37am
    The US Commerce Department is adding 37 Chinese companies and schools to a red-flag list of “unverified” entities that US companies should treat with caution, Reuters reports, citing a notice in the Federal Register. The list,...
  • A man walks outside the International Monetary Fund headquarters ahead of the IMF/World Bank spring meetings in Washington, D.C., on Monday. Photo: Reuters

    Global economy cooling, coordinated stimulus may be needed: IMF

    Apr 10, 2019 8:03am
    The global economy is slowing more than expected and a sharp downturn could require world leaders to coordinate stimulus measures, the International Monetary Fund said on Tuesday as it cut its forecast for world economic growth...
  • Premier Li Keqiang is welcomed by European Council President Donald Tusk (left) and European Commission President Jean-Claude Juncker ahead of the EU-China Summit in Brussels on Tuesday. Photo: Reuters

    EU hails breakthrough with China on industry subsidies

    Apr 10, 2019 7:38am
    Chinese Premier Li Keqiang promised the European Union that Beijing will no longer force foreign companies to share sensitive know-how when operating in China and is ready to discuss new global trading rules on industrial subsidies,...
  • The US Trade Representative said it is kicking off the process for retaliation against over US$11 billion worth of damage from EU subsidies to Airbus. Photo: AFP

    US plans tariff retaliation against EU over Airbus subsidies

    Apr 9, 2019 8:08am
    The US Trade Representative has proposed a list of European Union products ranging from large commercial aircraft and parts to dairy products and wine on which to slap tariffs as retaliation for European aircraft subsidies, Reuters...
  • The anniversaries of the IMF and the SDR in 2019 present an opportunity to transform the SDR into a true global currency that would strengthen the international monetary system, writes José Antonio Ocampo. Photo: Bloomberg

    Time for a true global currency

    - Apr 8, 2019 9:48am
    This year, the world commemorates the anniversaries of two key events in the development of the global monetary system. The first is the creation of the International Monetary Fund at the Bretton Woods conference 75 years...
  • The US-Mexico-Canada agreement deal agreed on Sept. 30 has not ended trade tensions in the region. Photo: Reuters

    New NAFTA deal ‘in trouble’ over elections, tariff rows

    Apr 8, 2019 7:28am
    More than six months after the United States, Mexico and Canada agreed a new deal to govern more than US$1 trillion in regional trade, the chances of the countries ratifying the pact this year are receding....
  • Taiwan’s defense ministry said two Chinese J-11 jet fighters crossed the center line in the Taiwan Strait on Sunday and entered the island’s southwestern airspace. Photo: Wikipedia

    Geopolitical issues could prove major black swans this year

    - Apr 4, 2019 11:02am
    The economies of both the United States and China appear to be more resilient than the market expected. The ongoing trade talks are also progressing well, helping the equity markets of both nations to stage sharp...
  • To maximize the benefits and mitigate the risks of the latest technological advances, national and global policy frameworks need to be strengthened and modernized, writes Richard Samans. Photo: Bloomberg

    Globalization needs an upgraded operating system

    - Apr 4, 2019 10:31am
    The G20 Leaders’ Summit in London on April 2, 2009, is widely regarded as one of the best examples of global cooperation in a generation. Meeting as a group for only the second time, leaders of...
  • Success of the new Shanghai tech board will depend on quality and pricing of the listing candidates. Photo: Reuters

    Some factors that will help support China’s economy

    - Apr 3, 2019 11:49am
    US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer went to Beijing last week for fresh trade talks. There has been speculation that the two sides have made some substantial progress in the negotiations, and...

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