Global economy

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.

Wednesday, 22 January, 2014, 2:57pm

World economic outlook gloomy, UN report says

Based on unsustainable global demand and financing patterns, the export-oriented growth model no longer works, Unctad says. Photo: Reuters

The world economy is still in disarray five years after the financial crash, a new UN economic report said.

The UN Conference on Trade and Development issued a gloomy assessment of a stagnant global economy.

“The global economy is still struggling to return to a strong and sustained growth path,” Unctad reported on Monday.

15 Oct 2013 - 11:56am

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

Jobless armies remind us growth is not a birthright

The recessionary pall over Europe has darkened the mood of the continent, even as London adds to its millionaire ranks. Photo: EPA

The rich are always with us, and we'll have more of them soon. A report last week from Boston Consulting Group shows that the global millionaire population is some 13.8 million.

5 Jun 2013 - 4:05am

Americans ill-served by the blinkered view of US dominance

Americans ill-served by the blinkered view of US dominance

The time has come to think the unthinkable: the era of American dominance in international affairs may well be coming to an end. As that moment approaches, the main question will be how well the US is prepared for it.

29 May 2013 - 6:16am 12 comments

Outlook for second half: sweet with a dash of sour

Japan is to inject US$1.2 trillion into its economy over the next two years. Photo: AFP

If policymakers across the world were to highlight the single most important challenge facing them today, likely all would identify - in one form or another - the perplexing issue of growth. Europe has too little of it; China has too much of it; Japan has none of it; and, as usual, the mighty US economy appears to have not too much, not too little, but just about enough.

13 May 2013 - 3:25am

Rates head for more cuts

The Bank of England this week kept its key interest rate at 0.5 per cent and target for asset purchases at £375 billion. Photo: Bloomberg

Global central bankers are poised to ease monetary policy even further after a wave of interest-rate cuts from India to Poland. As Group of Seven finance chiefs gathered in Britain yesterday, economists at Morgan Stanley and Credit Suisse are among those predicting policymakers will keep deploying stimulus amid weak global growth, slowing inflation and the need to thwart currency gains.

11 May 2013 - 4:13am

Prudent concern about economy

A board overlooking the floor of the New York Stock Exchange shows an intraday number above 1,600 for the S&P 500. Photo: AP

To judge by the rally in financial markets you would think the world economy is in good shape. The latest US employment figures for April, along with strong upward revisions for February and March, spurred the S&P index to a record high. They did confirm the world's largest economy is growing, but the pace of growth remains slow.

10 May 2013 - 4:43am

IMF calls for build-up of confidence

Christine Lagarde. Photo: Reuters

The IMF has urged leading powers to step up growth and reforms to generate jobs, warning that confidence in the global economy was in short supply. It also warned emerging and smaller economies to shore up their financial defences as leading economies charge up growth with extraordinary monetary stimulus and low interest rates.

22 Apr 2013 - 5:06am

Adding shine to stimulus

Gold has had a 12-year bull run but price falls this week could give central bankers more reason to keep pump-priming. Photo: AP

The slump in gold may hand activist central bankers more reasons to pursue the easy monetary policy that helped drive up the metal's price in the first place.

18 Apr 2013 - 5:33am

Economic theory must wake up to the real world of unpredictable behaviour

Dr Victor Fung Kwok-king

Last weekend, more than 400 people - including three Nobel laureates and many top economists and thought leaders - gathered in Hong Kong for the annual Institute for New Economic Thinking conference, co-hosted by the Fung Global Institute.

13 Apr 2013 - 3:21am

IMF's Lagarde says growth to remain weak in 2013

Christine Lagarde has criticised deep spending cuts in the US.

The global economy will not gain much traction this year as Europe and Japan fail to recover, trailing other developed economies, International Monetary Fund managing director Christine Lagarde has said.

12 Apr 2013 - 4:45am

IMF chief Christine Lagarde warns some risks to global economy persist

Christine Lagarde. Photo: Xinhua

International Monetary Fund managing director Christine Lagarde said that while a "substantial portion" of the global economy appears better now than a year ago, some risks persist.

8 Apr 2013 - 6:18am

Asia at risk if insolvencies hit euro zone

Post-Cyprus fallout is adding to Europe's existing challenges. Photo: Reuters

According to IMF data, central banks in emerging economies cut their euro holdings by 8 per cent, or €45 billion (HK$450 billion) in 2012. The world economy is moving towards a multipolar currency regime.

8 Apr 2013 - 2:04am

Forging friendship between China and Mexico

Forging friendship between China and Mexico

The future of the global economy in the 21st century will be largely defined by what happens in the Asia-Pacific region. Consequently, as president of Mexico, it is a priority and an honour to visit Hong Kong at the beginning of both my administration and that of President Xi Jinping.

5 Apr 2013 - 3:02am 1 comment