SubscribeAll Posts Tagged With: "world economy"
World Bank: Global Economy to Shrink for First Time Since World War II
The World Bank estimates that the global economy will likely shrink for the first time since World War II – at least five percentage points below potential – and emerging markets will suffer the hardest hits with severe long-term implications.
In its latest report, "Swimming Against the Tide: How Developing Countries are Coping with the Global Crisis," the World Bank says that 94 out of 116 developing countries have experienced a slowdown in economic growth. Of those, 43 have high levels of poverty.
And the most affected sectors are those that were the most dynamic not too long ago: Urban-based…
10Mar2009 | Money Morning | 0 comments | ContinuedChina Overtakes Germany to Become Third Largest Economy
An upward revision in China’s growth figures allowed it to leapfrog Germany to become the world’s third-largest economy in 2007. Now the Red Dragon is snapping at Japan’s heels in the quest to become No. 2 in the world’s economic pecking order.
“I think it will take only three to four years for China to overtake Japan as the second-largest economy in the world,” Merrill Lynch economist Ting Lu, told the Associated Press. Catching up with the United States could take decades, he added.
In a complicated recalculation, the Chinese government yesterday (Thursday) revised its growth figures for 2007 from 11.9% to…
16Jan2009 | Money Morning | 0 comments | ContinuedA gold backed rouble?
EN. RIA.RU
9/24/08
Russia’s role in the international financial system does not seem very large. However, as a major exporter of hydrocarbons, her role in the world economy is actually very important. As the age of the dollar draws to a close, Russia will have to consider selling her oil and gas not in the devalued American currency, but instead in the euro used by most of her customers. It is surely unnatural for two geographical neighbours to do such large volumes of business using the currency of a distant and now ailing nation.
Second, the Russian leaders might also consider making…
29Sep2008 | The Real Deal | Comments Off | ContinuedResources Hit the Dog Days
Oil is selling in the range of $113 per barrel, down from its recent high of $146. Gold is selling below $800 per ounce, down significantly from its springtime high of over $1,000. With a drop in excess of 20 percent for each item, it’s fair to say that we are in a bear market for both oil and gold.
Prices for other items, like natural gas, coal, silver, platinum, copper, zinc — and even a ubiquitous food commodity like corn — are all down sharply from much higher levels in recent months. So what’s going on with the pricing for…
27Aug2008 | Whiskey and Gunpowder | Comments Off | ContinuedMake Way for the Emerging Consumer
Finally, Americans are getting some relief. They no longer have to carry the whole world economy on their shoulders…
But we’ll come back to this….
First, a look at Wall Street.
The Dow tumbled more than 200 points yesterday. Oil rose $5. The euro rose against the dollar – to $.155. Gold shot up $11. And the yield on the 10-year note fell to 4.07%.
No biggie.
So, let’s go to today’s two top stories:
The first from Bloomberg: “China exports unexpectedly grow 28%.”
And this from the Wall Street Journal:
“Global inflation’s bite worsens.”
What is going on? The world economy is supposed to be slowing down. Inflation rates should…
13Jun2008 | Money Morning | Comments Off | ContinuedWhat Has Really Changed?
“What’s different?” asked colleague Manraaj Singh at this morning’s conference.
Early every morning, while most Americans are still in their beds, your editor joins a group of analysts and financial journalists to discuss the day’s news.
“What happened to the price of copper? Why are Asian stocks going down? Are they really going to cut rates today?” The answers are not always satisfying, but the questions keep coming.
And the question this morning was: what has really changed?
U.S. stocks held steady yesterday, but they’re down 5% so far this year. The dollar held steady yesterday too, but it is down for the year…
6Jun2008 | Daily Reckoning | Comments Off | Continued
Loading ...
