The annual Capital Economics conference was held in Singapore, during which the issue of slowing growth in China’s economy was discussed. Its participants noted a change in the demographic situation in the country. Among the existing problems, they named corporate debt and household debt, as well as a reduction in labor. According to CNBC, Mark Williams, chief economist for Asia at Capital Economics, believes that China’s GDP growth rate may fall to 2% over the next 10 years. Julian Evans-Pritchard, a senior company economist in China, sees a serious problem in debt risks in the Chinese real estate market, which has arisen due to the frequent borrowing of developers to finance land purchases. He also expects a slowdown in productivity growth in the country, noting China’s relatively high share in the international export market, which requires a search for measures to stimulate domestic growth.
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 ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...