WWW - Posts tagged WorldEconomy at BloggingStocks

WorldEconomy posts

Ray of Light: G-7 Finance Ministers Vow to Maintain Stimulus

Posted Feb 8th 2010 5:30PM by Joseph Lazzaro (RSS feed)
Filed under: International Markets, Recession

Monday's upbeat data point concerns the G-7, which agreed over the weekend to maintain economic stimulus measures, even as institutional investors (among others) start clamoring for nations to address large budget deficits.

Meeting amid the frozen tundra of Iqaluit, Canada (as opposed to the almost equally frozen tundra of Washington, D.C.), Canada's Finance Minister Jim Flaherty said G-7 ministers "are mutually committed" to continuing stimulus, and will start looking at exit strategies after regional economies are on a sustainable growth track, Bloomberg News reported Monday.

Continue reading Ray of Light: G-7 Finance Ministers Vow to Maintain Stimulus

World Bank lowers China's growth forecast

Posted Mar 18th 2009 9:50AM by Mark Fightmaster (RSS feed)
Filed under: China

Late in Tuesday's session, the World Bank cut its growth forecast for China to 6.5% from 7.5%. The bank cited dropping exports as a reason for the lowered forecast, but it did note that it is confident in China's ability to expand its economy in the current environment. The bank's quarterly report say that the drop in trade is going to negatively impact China's investment and job creation. Nevertheless, China should grow faster than other countries thanks to its stimulus package coupled with its strong banks, which have escaped the financial crisis unscathed.

A week ago, China's Premier Wen Jiabao announced that the country should meet its official 8% growth target (which some believe must be met for the country to create enough jobs for its influx of new workers) although exports fell 25.7% in February. Economists expect China's growth to come in between 5% and 8%, which is sharply lower than 2007's 13% expansion, but better than any other major country.

Continue reading World Bank lowers China's growth forecast