The day Asian leaders have long dreaded is here: The era of rapid growth is over. It has taken five years, but the fallout from what Asians call the “Lehman shock” is finally hitting gross domestic product and living standards, writes William Pesak Read Here – Bloomberg
For over a quarter century, the one figure that dominated discussion of China’s economy was this: eight percent. Beginning in 1982, when leader Deng Xiaoping established the percentage as necessary to quadruple the size of the country’s GDP by 2000, China has seldom failed to achieve it—even in 2009, when the world was enduring the worst downturn since the Great Depression. […]
As the world marks the 500 year anniversary of the arrival of the Portuguese people to China, a wave of Chinese investment and capital is pouring into Portugal. Read Here – The Diplomat
The largest developing nations for the first time have the worst market opportunities as optimism for stronger growth shifts to the U.S. and Europe, according to a Bloomberg Global Poll. Read Here – Bloomberg
Korea’s real challenge is one of reinvention: to find a new economic model to replace its previous dependence on exports. For years, Koreans buzzed about catching up to the developed world. Now that they largely have, the question is what comes next. If Korea is having the economic equivalent of a midlife crisis, my conversations […]
Senior Party members will meet in November in Beijing to discuss deepening reforms, and experts said they expect the meeting to set China’s economic agenda. The decision to hold the Third Plenary Session of the 18th Communist Party of China Central Committee was made at a meeting of the Party’s political bureau on Tuesday, which adopted plans for streamlining local government, and preventing and punishing corruption over the next four years. Read Here – China Daily
Not so long ago India was celebrated as an economic miracle. In 2008 Manmohan Singh, the prime minister, said growth of 8-9% was India’s new cruising speed. He even predicted the end of the “chronic poverty, ignorance and disease, which has been the fate of millions of our countrymen for centuries”. Today he admits the […]
A rupee in free fall; a terrifyingly wide current-account deficit; a corrupt, stagnant bureaucracy: In 1991, then-Finance Minister Manmohan Singh helped to rescue India’s economy from that near-death experience with a slew of liberalizing reforms, setting the stage for two decades of growth. Today, facing a similar, if less existential, crisis as India’s prime minister, Singh may well be the […]
When the U.S. financial system crashed in 2008, market watchers were increasingly romancing the idea of a “decoupling” that would separate emerging-market fortunes from those of the subprime-hobbled U.S. Such economies as Brazil’s and China’s, the thinking went, had the demographics and national balance sheets to keep growing and wowing as America foundered. Never happened. Read […]
As on a battlefield, so in the marketplace — a war to defend the economy is not won by the deployment of superior armoury but by the cleverness and credibility of one’s strategy and tactics. In a crisis, economic policymakers are like generals in war time. Their reputation is won not by the superiority of […]
looking beyond borders 