World Economy

German business confidence up more than expected

German Chancellor Angela Merkel  in the Swiss resort of Davos. Photo: AFP

German business confidence has increased more than expected this month as hopes rise that Europe’s largest economy will quickly put behind it a weak patch and benefit from an easing in the continent’s financial turmoil, a closely watched survey showed on Friday.

Saturday, 26 January, 2013, 9:53am

US economy faces bumpy ride despite budget deal

Traders work on the floor of the New York Stock Exchange yesterday as stocks soared on news of the last-minute budget deal. Photo: Reuters

The United States may have averted a financial calamity with a last-minute budget deal but continued political bickering threatens to shake the fragile economy well into the coming year.

3 Jan 2013 - 8:59am

IMF sounds alarm on risk of global growth slowdown

The IMF meets in Tokyo this week. Photo: Bloomberg

The International Monetary Fund cut its global growth forecasts and warned of even slower expansion unless officials in the US and Europe addressed threats to their economies.

10 Oct 2012 - 4:58am

Shaky global economy clouds Hong Kong outlook

We at the IMF have become more cautiously optimistic in our outlook for global growth over the past few months. A string of encouraging economic indicators have emerged from the United States, and better policies in response to the euro area's deepening crisis have helped reduce the threat of a sharp global slowdown.

11 May 2012 - 12:00am

Europe must wake up to China's role in debt crisis

Over recent weeks, as Europe's power brokers have forced Greek politicians to enact new austerity measures against bitter popular opposition, there has been a great deal of misguided talk about how China could bail out the euro zone's debt-stricken economies.

14 Feb 2012 - 12:00am

E.U. crisis could last seven years, ex-IMF chief warns

Former IMF chief Dominique Strauss-Kahn delivered yesterday in Beijing his first public speech since quitting the post amid allegations of sexual assault.

In a keynote speech to an annual conference of economists organised by, a mainland news portal, Strauss-Kahn shared his insights on the euro-zone debt crisis.

20 Dec 2011 - 12:00am

Protectionism won't solve debt woes, minister warns

One of China's top ministers yesterday warned foreign governments against imposing protectionist measures following the recent political and economic upheavals in Greece and other western economies.

4 Nov 2011 - 12:00am

IMF meeting ducks currency war issue

Finance ministers and central bank governors in Washington at the IMF/World Bank annual meetings ended their discussions with much whimpering, and a whimper of a final communiqu?

12 Oct 2010 - 12:00am

Bigger than Japan - now what?

China has surpassed Japan as the world's second-largest economy, underscoring its emergence as an economic superpower but raising concerns growth will come at a cost.

Japan's gross domestic product in the three months to the end of June was US$1.288 trillion, while that of China was US$1.337 trillion, Japan's Cabinet Office said.

17 Aug 2010 - 12:00am

G7 leaders can no longer deny India and China

The world changed this year. For the first time in recorded history, India and China are the drivers of the global economy. The implications are profound, though not recognised as yet by the world's premier economic club, the Group of Seven, which seems more and more to control a wheel detached from the rudder.

3 Dec 2007 - 12:00am

Forex controls eased

The mainland's foreign exchange regulator issued new rules yesterday, giving companies in bonded zones more flexibility in managing foreign currencies.

To take effect from October 1, the rules will remove the mainland's long-held policy of forcing businesses in bonded zones to change a portion of their income into the yuan, which has appreciated 5 per cent so far this year.

16 Aug 2007 - 12:00am

'Dejargonising' for sake of clarity

How do you 'multilateralise regionalism'? Any idea what a 'red box limitation' is, or a 'green box subsidy' for that matter?

This is just a taste of the jargon an average citizen can expect during deliberations at the World Trade Organisation meeting in Hong Kong in December.

However, help is on the way.

5 Oct 2005 - 12:00am

Big and messy - but not out of control

All's well in the Middle Kingdom, according to our old friends at the National Bureau of Statistics (NBS). Last Friday the government's bookkeepers announced that the national economy grew by 9.5 per cent in the first three quarters of the year. That is robust, but not too robust: the third-quarter growth rate was 9.1 per cent, down from earlier quarters.

25 Oct 2004 - 12:00am

Nation's world role 'overplayed'

An economic slowdown on the mainland this year would not significantly affect the regional or world economies, research by BNP Paribas shows.

The French-based bank's report said the mainland's role in the global market had been greatly exaggerated.

3 Jun 2004 - 12:00am

Global recovery forecast to be slow

Prospects for the global economy have improved, but recovery will remain sluggish for the next two years, according to Stephen Roach, Morgan Stanley Dean Witter's global chief economist.

Mr Roach yesterday said there would be a gradual pull-back from the brink of disaster that appeared imminent last year.

24 Apr 1999 - 12:00am