Global Economy

Export growth expected to remain under pressure across Asia: Oxford Economics
SINGAPORE (Mar 29): A weakening trend in Chinese import demand and slower global trade will continue to weigh heavily on exports across Asia, according to Oxford Economics. “We expect exports to remain under pressure this year from weak Chinese demand and slower global trade, as well as the slowdown in the ICT (information and communications technology) cycle,” the group says in a report ...
Slowdown more likely than global recession, says Oxford Economics, unless ...
SINGAPORE (Mar 25): The global economy may continue to slow down in the near term but the world will probably dodge a recession this year unless it is hit by big shocks or serious policy errors, says Oxford Economics. Since 1980, Oxford Economics says there have been eight significant global slowdowns in which world growth has decelerated below its long-term average of 2.9%. But of the ...
Why services won't ride to the rescue of global growth this year: Oxford Economics
SINGAPORE (Mar 14): Global services growth will slow this year and so won’t prevent world GDP growth slipping to its weakest pace since 2016, says Oxford Economics. And while services output will be supported this year by some policy stimulus and firmer real wage growth in advanced economies, there are headwinds from weakening world trade and negative wealth effects. Over recent decades, ...
Hong Kong tightens liquidity with $260 mil currency defence
HONG KONG (Mar 11): Hong Kong faces the likelihood of rising borrowing costs after the city’s de facto central bank intervened to defend its currency peg for the first time since August. The Hong Kong Monetary Authority bought HK$1.51 billion ($260 million) of local dollars during London and New York trading hours after the currency fell to the weak end of its trading band, it said in a ...
Trump sees no Xi summit by tariff date, stoking trade worry
WASHINGTON (Feb 8): President Donald Trump said he won’t meet Chinese President Xi Jinping before a March 1 deadline to avert higher US tariffs on Chinese goods, intensifying fears the two won’t strike a deal before the end of a 90-day truce. Trump responded “No” and shook his head Thursday when reporters at the White House asked him if he would meet with Xi this month. Then he added, ...
China’s economic woes spread across Asia with more pain seen
SINGAPORE (Jan 31): China’s weakening economy is roiling export markets in the rest of Asia – and there’s more pain to come. From Hong Kong to Japan, exports data for December showed a marked downturn as supply-chain disruptions triggered by US-China tensions and a cyclical slowdown in the world economy, led by China, hit the trade-reliant region. More bad news is in store for ...
IMF cuts global growth outlook, cites trade war and weak Europe
DAVOS, Switzerland (Jan 21): The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilise a slowing global economy. In its second downgrade in three months, the global lender also cited a bigger-than-expected slowdown in China’s ...
Bright spots to be found in bleak 2019 global growth outlook: Fitch
SINGAPORE (Jan 18): Fitch Ratings says decent US domestic demand and real GDP growth of over 6% for China are still two achievable scenarios in 2019, in spite of market concerns of a sharp downturn in growth this year. According to a note issued by Fitch on Thursday, the ratings agency says the broad contours of its Dec 2018 Global Economic Outlook (GEO) forecasts for 2019 – which entail ...
Trump calls meeting with lawmakers, suggests he's open to a deal
WASHINGTON (Jan 2): President Donald Trump invited the top congressional leaders from both parties to a White House briefing on border security Wednesday and suggested he wants to “make a deal” to end the government shutdown. It’s the first sign of a possible opening for negotiations to break the stalemate that’s had parts of the government shut for 11 days. Congressional aides said ...
US-China trade talks to take place Beijing in early Jan
WASHINGTON (Dec 27): A US government delegation will travel to Beijing in the week of Jan. 7 to hold trade talks with Chinese officials, two people familiar with the matter said. Deputy US Trade Representative Jeffrey Gerrish will lead the Trump administration’s team, which will also include Treasury Under Secretary for International Affairs David Malpass, according to the people, who spoke ...