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foreign policy and global economy

Archive for the tag “Central bank”

Are China’s GDP Numbers Believable?

Almost immediately after the Chinese National Bureau of Statistics released its second quarter GDP growth estimate of 7 percent in mid-July, a group of China watchers were crying foul. China officially targeted full-year growth of around 7 percent in 2015, a number matched exactly by its reported GDP figures for the first half of the year.

Read Here – The Diplomat

The Moral Of The Greek Story

It’s easy to moralize Greece’s feckless borrowing, weak tax collection and long history of default, and hey, go ahead; I won’t stop you. But whatever the nation’s moral failures, what we’re witnessing now shows the dangers of trying to cure the problems of weak fiscal discipline with some sort of externally imposed currency regime.

Read Here – Bloomberg

What Happens If Greek Banks Can’t Open?

The scariest quote for the world economy this week came from a member of the European Central Bank’s executive board. Asked by Eurogroup President Jeroen Dijsselbloem whether Greek banks would open Friday, his answer was stark: “Tomorrow, yes. Monday, I don’t know,” replied Benoit Coeure.

Read Here – The Atlantic

Americans Buy A Fifth Of China’s Exports

Americans bought almost $1 out of every $5 worth of goods that China exported in May, the highest share since August 2010. While Chinese shipments to trading partners including Japan, Europe and South Korea tumbled last month from a year ago, those to the U.S. climbed 7.8 percent. That helped make America the destination for 18.8 percent of China’s exports, outstripping all others.

Read Here – Bloomberg

China’s Economic Slowdown May Last Longer

China may need more time to reverse the current economic downturn than previously expected, and further measures are necessary to prevent an accelerated cooling, a leading government think tank says.

Read Here – People’s Daily

Russia And Flight Of Capital

Amid Russia’s economic woes, billions of dollars continue to disappear in offshore havens. The net outflow of capital from Russia reached $32.6 billion during the first quarter of 2015, according to the nation’s Central Bank.

Read Here – Eurasianet

Should India Ditch It’s Fiscal Deficit Target?

India’s biggest money managers have one piece of advice for Prime Minister Narendra Modi: Investors will forgive a higher budget deficit if the cash is spent on roads and bridges instead of food and fuel subsidies.

Read Here – Bloomberg

In Defence Mode

Mr. Rajan, the governor of the Reserve Bank of India, has been honored with awards this winter for his role in helping to bring momentum back to the country’s economy. His unexpected interest rate cut on Thursday helped strengthen emerging market stocks around the world.

At home, the view is less favorable, as Mr. Rajan finds himself caught in a political struggle.

Read Here – The New York Times

Going Abroad With The Yuan

The internationalization of China’s currency is underway, albeit with some important hurdles still to clear.

Read Here – The Diplomat

Big China Default Around The Corner?

Chinese company debt twice the size of Ireland’s economy will come due in 2014, spurring concern the nation is on the cusp of its first corporate bond default.

Read Here – Bloomberg

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