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International Monetary Fund

This tag is associated with 25 posts

Nerves on edge as Chinese authorities probe market mayhem


The head of hedge fund manager Man Group Plc’s (EMG.L) China business has been taken into custody to help authorities in a probe into recent market volatility, Bloomberg reported on Monday, while separately a local financial reporter confessed on national TV to having spread false information that caused “panic and disorder”. Both are likely to … Continue reading

International investors are pulling out of China in favour of India because of China’s interference in stock market


The tumult in China’s stock markets has turned into a blessing for Indian shareholders. International investors are pulling out of China, fuelling record outflows through the Shanghai-Hong Kong exchange link, amid a $2.8 trillion plunge in mainland equity values since June 12. They’ve ploughed $705 million into India over the same period, sparking a world-beating … Continue reading

India to beat China again as fastest-growing economy in 2016 says IMF


India will be the world’s fastest growing economy for the second consecutive year in 2016 at 7.5 per cent, IMF today said, even as it lowered its current year global economy growth forecast to 3.3 per cent. In its World Economic Outlook Update released here, IMF retained India’s growth projection for current year at 7.5 … Continue reading

Cadence of Conflict: Asia, June 1, 2015


Everyone is writing a lot of papers to each other, just like before WWII. Much of this has to do with who claims what territory, which affects how one nation identifies another, which affects peace and stability. Letters can change all of that. By not normalizing relations with the government it expelled, China has kept … Continue reading

This is how China is trying to save its economy


China has had 35 years of hypergrowth, but now it’s over. It’s going to have to settle for really, really good growth instead. But that’s still going to be hard now that fewer Chinese are working-age, fewer people are moving to the cities and, most of all, now that China has a debt bubble it’s … Continue reading

Productivity, not reproductivity, must be the new driver of Chinese growth


Around a quarter of China’s remarkable economic growth over the past three decades or so was delivered by the dividend from its demographic structure, with a young population augmenting the workforce and lifting output in new jobs. A large proportion of the population were of working age; the proportion of the young and the old … Continue reading

China likely to end up as former would-be superpower


Forecasts for China to surpass the US as the world’s main economic power are misplaced. So says an observer who foresaw Japan’s eventual demise a year before its land-price bubble began to burst. “The vulnerabilities in China today are very similar to the vulnerabilities in Japan,” said Roy Smith, 76, who was a Goldman Sachs … Continue reading

China’s long-awaited day of reckoning is close


All the devils have come together for the Chinese economy and the country’s “long-awaited day of reckoning” is upon us, writes Societe Generale analyst Wei Yao in a recent note. To China bears who’ve said that the country is a debt bubble, Wei’s conjecture will seem obvious. To bulls it raises another question: Where would … Continue reading

China argues it’s not really world’s largest economy


China‘s statistics agency said Tuesday that the International Monetary Fund is wrong in saying China has topped the U.S. as the largest economy in the world. According to the latest IMF figures based on purchasing power parity, China produced $17.6 trillion in goods and services in 2014, surpassing the U.S.’s $17.4 trillion. But China’s National … Continue reading

Why China keeps throwing trillions in investments down the drain


A recent study performed by two economists affiliated with a Chinese state agency found that China’s state investments have becoming alarmingly wasteful and ineffective. There are two indisputable facts about China’s mammoth investments in its infrastructure and factories. One, they are a growth engine, accounting for roughly half of the country’s GDP increase since 2000. … Continue reading

China poised to pass U.S. as world’s leading economic power this year


The U.S. is on the brink of losing its status as the world’s largest economy, and is likely to slip behind China this year, sooner than widely anticipated, according to the world’s leading statistical agencies. The US has been the global leader since overtaking the UK in 1872. Most economists previously thought China would pull ahead in … Continue reading

China urges local governments to speed up spending to support the economy


China urged local governments on Thursday to speed up spending this year’s budget to support economic growth but said it would keep overall policy stable and focus on pushing through reforms. Beijing is reluctant to take broad action to stem a slowdown in the economy, such as relaxing monetary conditions, but analysts said there had … Continue reading

I.M.F. warns China to hasten economic change


China’s growth has slowed significantly in recent months. But even its current pace of expansion may not be sustainable, the International Monetary Fund warned on Wednesday, unless China starts making significant and systemic economic changes — and soon. “Since the global crisis, a mix of investment, credit and fiscal stimulus has underpinned activity,” the I.M.F. … Continue reading

While Belarus borrows, China makes money


China is building an entire city in the forests near the Belorussian capital Minsk to create a manufacturing springboard between the European Union and Russia. Belarusian President Aleksandr Lukashenko allotted an area 40 percent larger than Manhattan around Minsk’s international airport for the $5 billion development, which will include enough housing to accommodate 155,000 people, … Continue reading

The real cause and impact of China’s labour shortage


China continues to suffer a labour shortage in its key coastal manufacturing regions. This, no doubt, is impacting U.S. and other foreign companies operating in China. But the labour shortage is not due to a lack of available workers. Instead, it is prompted by Chinese government policies, as well as prevailing work and living conditions … Continue reading

Where have China’s workers gone?


Xi Jinping and Li Keqiang are taking over China’s leadership at a time when growth has slackened and labour issues have become more complex. Reports that businesses such as Foxconn Technology Group are raising wages and struggling to recruit workers in China have intensified debate over just how many surplus workers the country still has. Meanwhile, … Continue reading

Citibank forecasts a reversal in China commodity, growth patterns


In his latest note Citi‘s Edward L Morse writes “the commodity super cycle is over.” That is a monumental call, given how popular the long commodities trade has been. Why the turn? Basically, it’s all got to do with China. First, the economy is slowing down, and second as China rebalances its economy it is … Continue reading

The number of millionaires in China


“Employing forecasts from the International Monetary Fund, Credit Suisse expects total household wealth to rise by almost 50% in the next five years from US$223 trillion in 2012 to US$330 trillion in 2017, assuming moderate and stable economic growth. The number of millionaires worldwide is expected to increase by about 18 million, reaching 46 million in 2017. China is expected to add … Continue reading

Dirty money cost China $3.8 trillion 2000-2011 says report


Reuters reports from Washington: “China has lost $3.79 trillion over the past decade in money smuggled out of the country, a massive amount that could weaken its economy and create instability, according to a new report. “And the outflow – much of it from corruption, crime or tax evasion – is accelerating. China lost $472 … Continue reading

China IMF boycott ‘a sign of things to come’


China’s top level boycott of global financial meetings in Japan this week is a sign of things to come, analysts say, as an economically emboldened Beijing shows struggling Western nations it doesn’t need to play by their rules. With global growth slowing, many in the developed world are looking to Beijing to pick up the … Continue reading

China to send lower ranking officials to IMF Tokyo meet; snub to Japan


China‘s delegation to the annual meetings of the IMF and the World Bank in Tokyo will not be led by its most senior finance officials, a report from state news agency Xinhua said on Tuesday, in what looked like a deliberate snub of Japan. According to Chinese protocol, only the most senior officials usually lead … Continue reading

IMF cuts China’s growth forecasts


China‘s economic growth is expected to weaken to 7.8 percent this year, the International Monetary Fund said on Tuesday as it warned of risks to emerging Asia if the euro zone crisis worsens and the United States does not avoid its “fiscal cliff”. However, the IMF said several Asian countries had fiscal room to support … Continue reading

China should remember no country is an island in a globalised world


There is no doubt that the row over a group of tiny islands in the East China Sea has sealed the deterioration in relations between China and Japan. The diplomatic spat over the Diaoyu/Senkaku islands, which sparked violent protests, with Japanese flags and factories burned, stunned Tokyo, and caused Japanese companies to consider scrapping investment … Continue reading

China Aims to Drive Domestic Consumption


China is currently facing a spending crunch from Europe and the U.S., which is impacting the economy and threatening a possible “hard landing.” The superlative growth over the last decade has largely been fuelled by export demand for cheaper Chinese-made goods. The country built thousands of plants and added significant capacity to handle the significant influx … Continue reading

China’s shipyards flounder as building boom ends


Welder Zhang fires up his blow torch and looks up at the towering, 8,800-tonnes oil tanker that is likely to be his last job at China‘s privately owned Qiligang Shipbuilding Co. Barring a miracle, the 50-year-old will soon join the thousands of unemployed shipbuilders who have fallen victim to the end of China’s maritime boom … Continue reading

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