This tag is associated with 128 posts

China’s Credit Rating Outlook Lowered To Negative By Moody’s

The outlook on China’s credit rating was lowered from stable to negative by Moody’s Investors Service on Wednesday as they cite a weakening of fiscal metrics, a continuing fall in foreign exchange reserves, and uncertainty about implementation of reforms. According to Moody’s, the key drivers of China’s outlook revision are:  The ongoing and prospective weakening of fiscal metrics, … Continue reading

Moldova In Crisis As Corruption Threatens Stability

By Daniel Schearf A financial crisis in Moldova, one of the poorest countries in Europe, has exposed deep-rooted corruption that is boosting pro-Russia parties and threatening Moldova’s stability. Monthslong protests around government buildings have raised comparisons with the uprising in neighboring Ukraine. Western backers are withholding financial support until the government makes much-needed reforms, but … Continue reading

Asia And The Next Financial Crisis

By East Asia Forum The Asian financial crisis of 1997–98 was a huge turning point in Asia. Asia’s confidence in the IMF and the US leadership to help through global institutions in a time of crisis was seriously shaken. The disillusionment was deepest in Tokyo, Seoul, Bangkok and Jakarta — Beijing was then an innocent … Continue reading

Get Used To Living With Chinese Economic Tremors

By Peter Drysdale The economic tremors that accompanied the New Year falls in the Chinese stock market have spooked markets and policymakers around the world. Get used to it. China’s now big enough to matter in markets everywhere. In terms of its share of global output, global growth of GDP and commodities markets, China matters … Continue reading

What Happens If China’s Economy Has A “Hard Landing”?

By Ellen L. Frost The sudden, sharp fall of Chinese stock prices twice in 2015 and again this month does not necessarily herald a further slowdown of GDP growth. But investor confidence, the bedrock of a healthy economy, has been shaken both in China and throughout the world. As Chinese leaders struggle to implement market-based reforms, … Continue reading

Emerging Markets At A Crossroads

By M Ayhan Kose, Franziska Ohnsorge, Lei (Sandy) Ye Emerging markets face their fifth consecutive year of slowing growth. This column examines the nature of the slowdown and appropriate policy responses. Repeated downgrades in long-term growth expectations suggest that the slowdown might not be simply a pause, but the beginning of an era of weak growth … Continue reading

Accelerating India’s Growth Will Need Further Reform

By Raghbendra Jha On the back of expanding global trade and buoyant exports the Indian economy managed to grow at more than 9 per cent annually between 2005–6 and 2007–8. But following the global financial crisis, and subsequent sluggish world output and trade trends, economic growth in India has been lacklustre and remains well below … Continue reading

What To Expect In Latin America In 2016

By Daniel Lemaitre Economic decline in dominant industries, worsening security in major urban centers, and high profile corruption accusations will continue to hinder development in Latin America in 2016. In the Latin American context, 2015 can be catalogued as a year of political renovation. The United States and Cuba officially restarted bilateral diplomatic relations; Guatemala … Continue reading

Oil Price Squeeze: Saudi Arabia Slashes 2016 Budget, Hikes Gas Prices By Over 50%

Saudi Arabia has announced plans to cut government spending and reform its finances after plunging oil prices resulted in a record annual budget deficit of nearly $98bn (£66bn). The state ran a deficit of 367bn riyals ($97.9bn) in 2015, or 15% of gross domestic product, officials said. The 2016 budget plan aims to cut that … Continue reading

Yuan’s Accession Marks End To Any Containment Of China

By Robert Shines With the recent IMF decision to grant China’s currency the status of reserve currency, any attempts to “contain” China are over. China has taken a major step in confirming its international economic importance and its reemergence on the world stage with the accession of the yuan as a reserve currency. The move … Continue reading

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