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Economy in Asia

  • What Global Finance Chiefs Are Saying About the Economy

    WORLD, 2017/10/16
  • IMF upgrades Korean growth to 3%

    SOUTH KOREA, 2017/10/15 he International Monetary Fund (IMF) has adjusted Korea’s increase estimate for 2017 and 2018 upward to 3.0 %. On Oct. 10, the IMF released its World Economic Outlook statement, published each April and October, and revised Korea’s increase outlook for 2017 to 3.0 %, which is 0.3 % points higher than in the April statement. For 2018, the increase estimate went up 0.2 % points to 3.0 %. According to the Ministry of Strategy and Finance, the IMF’s revision of its economic increase outlook figures is based on improvements in world trade and the recovery of import request in mainland China.
  • Global financial crisis looms as 'new bubbles' begin to emerge, says outgoing German finance minister

    GERMANY, 2017/10/14 Financial expert Ernst Wolff gives Sputnik a taster of his new book, which warns that dependence on the financial industry and the US dollar has created a "financial tsunami," the consequences of which the world is all unprepared for. Financial expert Ernst Wolff, author of a bestselling analysis of the International Monetary Fund's "modern day crusade against the working people on five continents," has turned his attention to the world economy in his new book.
  • Singapore's latest growth nearly doubled estimates

    SINGAPORE, 2017/10/14 Singapore's trade-reliant economy grew additional than expected in the third quarter from the previous quarter on an annualized basis, on the back of manufacturing increase, preliminary data showed on Friday.
  • Global economic recovery may not last, warns IMF

    WORLD, 2017/10/13 Fund cuts UK and US increase forecasts, and as well tells governments not to get complacent in its new World Economic Outlook. The International Monetary Fund has said the world economy’s recent recovery may not last, despite a pickup in activity in all western nations except the UK. Marking the 10th anniversary of the onset of the financial crisis, the IMF said in its World Economic Outlook (WEO) there was a risk that governments could be lulled into a false sense of security by booming markets and policymakers needed to guard against complacency. Maurice Obstfeld, the IMF’s economic counsellor, cited high investment prices, rapid credit increase in China, political turmoil in Catalonia and a cliff-edge Brexit as risks to an improving world outlook.
  • IMF Says Global Recovery Strengthening, But Incomplete

    WORLD, 2017/10/12 The world economic upswing is strengthening and has become broad-based, presenting a window of opportunity for policymakers for reforms, but the recovery is still incomplete and may not last forever, the International Monetary Fund said Tuesday. In its new biannual World Economic Outlook, the Washington-based lender raised the world increase estimate for this year to 3.6 % from 3.5 % and the outlook for next year to 3.7 % from 3.6 %. In an interim WEO update in July, world increase projections were left unchanged.
  • IMF warnings on economy will fall on deaf ears among world leaders

    WORLD, 2017/10/09 Christine Lagarde, boss of the International Monetary Fund, is expected to deliver a hard-hitting speech at the organisation’s annual conference this week, urging world leaders to push ahead with reforms to turn the current world economic recovery into something additional sustainable. Lagarde, who is presently in her second four-year term as managing director of the Washington-based lender of last resort, will talk about a lack of education, training and productivity. She will, no doubt, develop the argument she put forward in London a fortnight ago that regulators need to be wary of lenders outside the mainstream repeating the same errors as the banks a decade ago.
  • Process of economic reforms incomplete, fresh thinking needed: Manmohan Singh

    INDIA, 2017/10/05 Former prime minister Manmohan Singh today said the process of economic reforms he was associated with was "still incomplete" and that a "fresh thinking" was needed to evolve a new design for the country's social and economic policy. The policy should be a judicious mix of both high rate of economic increase and a strong focus on containing economic inequalities, said Singh, considered the architect of the economic liberalisation measures unleashed in 1991.
  • India's flagging economy draws dire warnings of recession

    INDIA, 2017/09/29 Prime Minister Narendra Modi came to power on a euphoric wave of promises to boost India's economy, add millions of jobs and bring "good times" to the developing country. Three years later, India's economic prospects look decidedly grimmer. India's economic expansion has slowed to its lowest level in three years. Small businesses are struggling, or even shutting down, next overhauls of the country's currency and sales tax system. Modi's own allies warn of a dire outlook, with some raising the specter of an economic depression.
  • UNDP chief: BRICS sends promising signal

    CHINA, 2017/09/04 Achim Steiner, United Nations Development Program (UNDP) Administrator told Xinhua here Wednesday that the BRICS nations together are sending a promising signal to the world in peace and development. Steiner said "I hope that through the BRICS summit, to be held next week in China's harbor city of Xiamen, these emerging economy nations could play their role in conference the large challenges humanity is facing." He said that the economic transformation in the completed decades have elevated these nations not only in economic term, but as well provided them a platform to influence the outcomes of world significance.