Economic Growth

Risks loom on China reform path amid slowing economic growth

Beijing has shown an increasing willingness to sacrifice some growth rate as it aims to overhaul a growth model that has relied on investment and money printing. Photo: AFP

Fresh signs of the struggle ahead for Beijing to deliver a cohesive reform-oriented agenda for economic growth have emerged as two of the mainland's top financial authorities outlined contrasting views on where the economy is heading.

Friday, 7 March, 2014, 2:34am 2 comments

China's economy to grow 7.5 per cent this year, IMF says as it raises global forecast

“The basic reason behind the stronger recovery is that the brakes to the recovery are progressively being loosened,” said Olivier Blanchard. Photo: Reuters

The International Monetary Fund raised its global growth forecast for the first time in nearly two years on Tuesday, saying fading economic headwinds should permit advanced countries to pick up the mantle of growth from emerging markets.

22 Jan 2014 - 2:57pm

World Bank cuts growth forecasts

Growth is slipping in the biggest emerging-market economies.

The World Bank cut its global growth forecast for this year after emerging markets from China to Brazil slowed more than projected, while budget cuts and slumping investor confidence deepened Europe's contraction.

14 Jun 2013 - 3:49am

China's leaders pledge to maintain growth momentum

The headquarters of the People's Bank of China in   Beijing. Photo: Xinhua

China needs to strengthen its economic growth momentum while guarding against financial risks, its top leaders said after their first meeting to discuss the economy in the first quarter.

26 Apr 2013 - 4:40am

Book review: The Devouring Dragon, by Craig Simons

A coal-burning power plant near Zhengzhou, Henan province, illustrates the environmental dangers posed by the mainland's rapid growth. Photo: Reuters

Back at the dawn of the 19th century British scholar Thomas Malthus sensed mankind's future: the "power of population is so superior to the power of the earth to produce subsistence for man, that premature death must in some shape or other visit the human race," he said.

31 Mar 2013 - 5:21pm

Ben Bernanke says raising US interest rates early risks economic growth

Ben Bernanke

Federal Reserve chairman Ben Bernanke signalled he would keep the Fed's target interest rate low to support the economy, even as some colleagues warned the policy risks triggering financial market instability.

3 Mar 2013 - 6:30am

All eyes on 20-ring circus

The luxury Ritz-Carlton hotel in central Moscow awaits the arrival of G20 policymakers this weekend. Photo: Reuters

The G20 multi-ring circus reaches Russia this week for six months of no doubt bizarre performances, culminating in September in the grandest summit on earth in St Petersburg. Given that Russia excels in circus and that President Vladimir Putin is something of a showman-in-chief, it promises to be an exciting time.

14 Feb 2013 - 4:53am

HSBC says China's economy to take centre stage in 'new world'

Stephen King, Group Chief Economist of HSBC. Photo: Edward Wong

The United States, Japan and Europe are set to take the back seat to China's economy, which will take the centre stage of the "new world", according to HSBC.

19 Jan 2013 - 5:12am

Three steps to jump-starting the global economy

Three steps to jump-starting the global economy

As the world enters yet another year in the shadow of continued financial and economic crisis, a broader view of the contours of the future global economy is required.

5 Jan 2013 - 2:38am

World leading economies to see drop in debt

Deutsche Bank expects German bonds to outperform French debt.

The world's leading economies will have US$220 billion less sovereign debt to refinance this year, cutting supply after every major government bond market rallied for the first time since the 2008 financial crisis.

3 Jan 2013 - 4:36am

Are the days of rapid economic growth over?

US President Barack Obama is in negotiations with Republicans on a deal to avoid the fiscal cliff. Photo: MCT

The great bulk of the economic commentaries you read in the papers are focused on the short run - the effects of the "fiscal cliff" on US recovery, the stresses on the euro, Japan's latest attempt to break out of deflation. This focus is understandable, since one global depression can ruin your whole day. However, what do we know about the prospects for long-run prosperity?

30 Dec 2012 - 7:27am 1 comment

Bridge over the Pacific

US President Barack Obama tours the Shwedagon Pagoda in Yangon, with an eye on potential trade in the economic frontier. Photos: AP

More than a century and a half after Millard Fillmore dispatched an emissary to Asia to transform commerce across the Pacific, a US president again sees an historic opportunity to strengthen America's role in the region.

8 May 2015 - 9:46am

Let's not pay an even bigger price for political failure

The Bank of Japan has so far dragged its feet on stimulus.

Growth in the world economy subsided in 2012. The expansion since 2009 has been a bitter disappointment because much of the slack created by the recession remains. With so much idle capacity, a chance exists for robust growth next year, but only if governments raise their game.

28 Dec 2012 - 4:14am

Chinese experts divided over US report on country's future rise

A new building in Beijing. The US National Intelligence Council report warned of major uncertainty over an emerging China. Photo: AFP

A new intelligence assessment that projects China outstripping the United States as the leading economic power before 2030, but with the US remaining an indispensable world leader, has divided Chinese experts.

8 May 2015 - 9:46am

Inequalities erode foundations of Asia's growth

A worker walks with a spade as others lay iron bars for a bridge under construction in the Jammu-Srinagar highway. Photo: AP

Developing Asia's impressive growth continues, but faces a new challenge - rising inequality. Over the past few decades, the region has lifted people out of poverty at an unprecedented rate. But more recent experience contrasts with the "growth with equity" story that characterised the transformation of the newly industrialised economies in the 1960s and 1970s.

5 Dec 2012 - 2:15am