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News About The Global Economy
August 18, 2016
IMF warns on China's mid-term economic stability
Beijing (AFP) Aug 12, 2016
China must take "urgent" action to reform its economy or risk "permanently lower growth", the International Monetary Fund said in a report Friday, citing mounting corporate debt as a major concern. While near-term growth prospects remain good, Beijing's failure to move on long-promised reforms is raising the chances of a medium-term hard landing in the world's second-largest economy, it said. China is seeking to restructure its economy to make the spending power of its nearly 1.4 billion people ... read more

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Japan approves huge stimulus for sluggish economy
Japan's cabinet Tuesday approved a mammoth 28-trillion yen ($273 billion) package in its latest attempt to stimulate lacklustre growth, including cash to improve infrastructure and raise the birthrate in the ageing nation. ... more
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China new home prices rise faster in July
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Brexit is risk to global growth, says G20
Britain's vote to leave the European Union heightens risks for the world economy, finance chiefs from the G20 group of leading countries said Sunday, vowing to use "all policy tools" to boost growth. ... more
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Microsoft delivers earnings surprise, stock rises
Microsoft said Tuesday it posted a profit of $3.1 billion in the just-ended quarter, swinging into the black a year after hefty charges from writing off mobile phone assets. ... more
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US warns against devaluation ahead of G20 finance meeting
US Treasury Secretary Jacob Lew on Thursday said top economies should refrain from competitive currency devaluations - a message likely directed at China, which hosts a G20 finance ministers meeting this weekend. ... more
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China's second-quarter economic growth beats forecasts
China's economy expanded more than expected in the second quarter of the year, Beijing said Friday, fuelling hopes growth may be stabilising, but analysts warned private investment was worryingly low. ... more
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Tech icons pan Trump as 'innovation disaster'
Tech icons branded presumptive Republican presidential nominee Donald Trump an "innovation disaster" on Thursday in an open letter signed by leaders of some of the industry's biggest companies. ... more
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G20 nations pledge to boost trade despite growing protectionism
The world's top 20 economies will work to boost sluggish global trade despite growing protectionism, overcapacity concerns, and uncertainty over Brexit, G20 trade ministers said Sunday at a meeting in Shanghai. ... more
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China forex reserves rise unexpectedly in June
China's foreign exchange reserves unexpectedly increased by $13 billion last month, officials said Thursday, as pressure on its currency the yuan to depreciate apparently eased. ... more
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China changes GDP calculations again
China has altered its gross domestic product calculation method for the second time in less than a year, officials said Tuesday, amid doubts among overseas investors about data accuracy. ... more
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China manufacturing deteriorates sharply in June: Caixin
Activity in Chinese factories suffered its sharpest deterioration for four months in June, figures showed Friday, as weak demand and industrial overcapacity weighed on the world's second-largest economy. ... more
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Global turmoil, drought and fish deaths slow Vietnam economy
Vietnam's economy slowed in the first half of 2016, official figures showed Wednesday, with a severe regional drought and a spate of fish deaths adding to losses caused by turmoil in global markets. ... more
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Brexit heightens global uncertainty: China's Li
Britain's vote to leave the European Union has added new uncertainties to the global economy at a time when downward pressures on China are mounting, Premier Li Keqiang said Monday at a World Economic Forum meeting. ... more
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Christo artwork a 'waste of public money': watchdog
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China banks write off $300 billion in bad loans: official
Chinese banks have written off more than $300 billion of bad loans in the past three years, an official said Thursday as Beijing seeks to reassure investors that the country can cope with its mounting debt problem. ... more
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China's total debt is more than double GDP: govt economist
China's total borrowings were more than double its gross domestic product (GDP) last year, a government economist said, warning that debt linkages between the state and industry could be "fatal" for the world's second largest economy. ... more
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China bank lending rebounds strongly in May
China's bank lending rebounded strongly in May following a sharp fall in April, the central bank said Wednesday, as borrowers continued to take advantage of loosened lending standards put in place by Beijing in hopes of stimulating slowing economic growth. ... more
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China economic outlook "uncertain" as vulnerabilities loom: IMF
China's economic outlook is uncertain with corporate debt and an opaque financial sector contributing to looming vulnerabilities, an International Monetary Fund Official said Tuesday. ... more
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China's investment growth slows, bucking signs of stabilisation
China's fixed asset investment, an important gauge of infrastructure spending, slowed to its weakest pace in 16 years, government statistics showed Monday, a worrying trend despite other signs of economic stabilisation in the Asian giant. ... more
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Brexit 'disastrous' for EU global role: analysts
Britain leaving the European Union would strip the bloc of a nuclear-armed global player and prove "disastrous" for its presence on the world stage, analysts say. ... more
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Fall in Chinese factory gate prices eases again in May
The fall in producer prices eased further in May, data showed Thursday, fuelling hopes a slowdown in the world's number two economy is bottoming while stabilising consumer inflation also gave authorities room for fresh stimulus. ... more
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China consumer inflation rises in May: govt
Deflationary pressures in Chinese industry eased in May while consumer inflation remained relatively steady, official data showed Thursday, leaving authorities room for further policy easing to boost growth. ... more
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