Economics
Reuters Poll Shows Forecast For Vigorous Recovery For Global Economy In 2021
A poll of more than 500 economists conducted by the news agency Reuters revealed that the recovery of the global economy this year form the lows that it hit because of the novel coronavirus pandemic in 2020 will be sharpest since the 1970s. Wide majority of the economists participating in...
World's largest economies lose 7.1% of GDP due to lockdowns
Lockdowns and other restrictive measures during the pandemic cost the largest economies an average of 7.1 percentage points of GDP, according to a joint review by ACRA and Chinese rating agency Golden Credit Rating. A total of 27 countries accounting for 81% of global GDP were taken into account in...
China's Auto Industry Recovery Put At Threat Be Semiconductor Shortage
The shortage of semiconductors has also affected auto production in in China after there were hopes that the largest car market of the world would lead a global recovery of the industry, however many executives of the auto industry are now rattled by the shortage and its China hit. The...
Experts see a threat in global economic recovery
Carbon (CO2) emissions will increase by almost five per cent this year (1.5 billion tonnes more than in 2020). This would be the second biggest increase in history, the International Energy Agency (IEA) said in a report. It is a "dire omen" of impending threats to the climate and the environment...
Smartphones supplies hit record high in China, 5G phones on the rise
Mobile phone shipments in China rose 65.9 per cent year-on-year to 36.09 million units last month, the Chinese Academy of Information and Communication Technology (CAICT) said, quoted by Xinhua news agency. Mobile phone supplies in China exceeded 97.97 million units in the first three months of...
China's economy hits record high
China's GDP showed a record 18.3% year-on-year growth in the first quarter, but the quarterly trend was worse than expected - the indicator improved by only 0.6%. China's economy grew by a record 18.3% year-on-year in the first quarter of this year, according to data from the country's National...
Aluminium price jumps to highest in almost three years
The aluminum price jumped to the highest level in almost three years amid Chinese trade data, which eased concerns about demand prospects, trade data shows. The price of a tonne of aluminium with delivery in three months on the London Metal Exchange (LME) rose 1.37% to $2,293 on Tuesday, jumping to...
US Federal Reserve to start cutting back on bond purchases
The US Federal Reserve (Fed) will reduce asset purchases in the market as macro indicators improve, which is likely to happen well in advance of a decision to raise interest rates, Fed Chief Jerome Powell said during his speech. The Fed expectedly kept the benchmark interest rate at 0-0.25% per...
USA is speeding up work on the digital dollar
US President Joe Biden's administration has become more active in exploring the creation of a digital dollar amid China's plans for a digital yuan, sources familiar with the situation told Bloomberg. The People's Bank (Central Bank) of China said in early April that it was testing the possibility...
China’s Unofficial Australian Coal Ban Is Proving Costly For It
There has been a rise in the cost of domestic and alternative foreign supplies of coal for both thermal and coking grades of the fuel in China since the country had unofficially banned importing of coal from Australia. The ongoing political clash between China and Australia is a reason...
