The International Monetary Fund, following the results of the mission in the PRC, announced a reduction in the forecast for the growth of the Chinese economy in the current year to 6.2% from the previously expected increase of 6.3%. The following year, the IMF's estimate of economic growth worsened to 6% from 6.1%. The fund's experts pointed out to the Chinese authorities the need, in conjunction with their trading partners, to step up work to eliminate the shortcomings in the trading system. According to their estimates, the escalation of the trade conflict with the United States has a negative impact on the Chinese economy. At the same time, they do not see the need for further measures to stimulate economic growth on the part of the Chinese authorities, unless the duties are raised again and a sharp slowdown in growth does not occur. According to PRC President, Xi Jinping, the growth of employment and income of the Chinese, with stable inflation, makes the GDP dynamics of the PRC acceptable.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...