IMF chief says the global economy has show resilience in the face of COVID, war and high rates
1 year, 2 months ago

IMF chief says the global economy has show resilience in the face of COVID, war and high rates

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} The global economy has shown “remarkable resilience’’ but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates, the head of the International Monetary Fund said Thursday. “While the recovery from the shocks of the past few years continues, it is slow and uneven,’’ IMF Managing Director Kristalina Georgieva said in remarks prepared for a speech in Abidjan, Ivory Coast, ahead of next week’s fall meetings of the IMF and the World Bank. Weighing on global growth is China’s disappointing recovery despite the lifting late last year of draconian zero-COVID policies, which had crippled commerce in the world's second-biggest economy last year.

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History of this topic

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?
1 month, 2 weeks ago

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?

Live Mint  

China is expected to unveil significant economic measures Friday at the conclusion of the National People's Congress Standing Committee meeting, aiming to revive its struggling economy, AP reported. Analysts believe China may need substantial, multi-trillion-yuan initiatives to reinvigorate growth in the world’s second-largest economy, which has yet to recover fully from the COVID-19 pandemic. Any new spending or economic boost …

Incremental Policies Boost China's Economic Growth
Trending News
1 month, 3 weeks ago

Incremental Policies Boost China's Economic Growth

China Daily  

China's economy is showing signs of continued growth, with trade volume and GDP growth reaching record highs. The recent package of incremental policies is further unlocking growth potential and boosting confidence in the country's development. International financial institutions are also raising their forecasts for China's economic growth this year.

Incremental Policies Boost China's Economic Growth
Trending News
1 month, 3 weeks ago

Incremental Policies Boost China's Economic Growth

China Daily  

China's economy is showing steady growth, with trade volume and GDP growth reaching record highs. The country's incremental policies are further boosting growth potential, spurring consumption and investment. International financial institutions are optimistic about China's future growth prospects, with Goldman Sachs and J.P. Morgan raising their forecasts for the year. The vitality of the Chinese economy also comes from its …

China's Economic Stability: A Steady Beacon Amid Global Uncertainty
1 month, 3 weeks ago

China's Economic Stability: A Steady Beacon Amid Global Uncertainty

China Daily  

China's economy remains a stabilizing force in the global economy, despite the challenges of global geopolitical rivalries and rising government debt. The country's structural reforms and high-quality development strategies have contributed to its stability and growth. China's commitment to high-quality development and its willingness to engage in global trade and cooperation remain crucial for maintaining its economic prosperity and stability …

IMF Warns of Global Economic Headwinds, Downgrading Growth Projections
2 months ago

IMF Warns of Global Economic Headwinds, Downgrading Growth Projections

China Daily  

The International Monetary Fund (IMF) has downgraded its global growth projections for 2024, with a revised forecast of 3.2 percent for this year and 4.5 percent for 2025. The IMF warns about the global economic outlook, highlighting geopolitical risks, trade protectionism, and challenges in the real estate sector.

IMF's economic view: A brighter outlook for US but still-tepid global growth
2 months ago

IMF's economic view: A brighter outlook for US but still-tepid global growth

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?
2 months, 1 week ago

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?

Bloomberg  

China’s economic growth target of 5% this year is looking ambitious, given sluggish consumer spending, an uncertain outlook for the country’s exports and a still shaky property market. Fewer than a fifth of economists surveyed by Bloomberg Terminal Bloomberg were predicting gross domestic product would expand by 5% in 2024, as analysts at lenders such as Bank of America Corp. …

China's factory output disappoints, dashing hopes for speedy recovery
4 months, 1 week ago

China's factory output disappoints, dashing hopes for speedy recovery

The Hindu  

China's factory output growth slowed and missed expectations in July, adding to a series of indicators that show the world's second-largest economy is struggling to kick into a higher gear, even with recent government support. "The data shows that the economy has gotten off to a weak start in the second half of the year, and it is expected that …

IMF praises China for its resilient growth
4 months, 2 weeks ago

IMF praises China for its resilient growth

China Daily  

The International Monetary Fund welcomes China's "resilient economic growth and the post-pandemic recovery in private consumption", according to a new report. Driven by China's strong economic data from the first quarter, the IMF increased its forecast for the nation's annual economic growth to 5 percent this year, an upward revision of 0.4 percentage points compared with the projections released in …

China's economic performance resilient amid challenges
5 months ago

China's economic performance resilient amid challenges

China Daily  

The skyline of Beijing. China's economy demonstrated a stable expansion in the first half of 2024, achieving a year-on-year GDP growth of 5 percent, equivalent to 61.68 trillion yuan, according to data released by the National Bureau of Statistics on Monday. Key economic indicators GDP growth The first half of 2024 saw China's GDP grow by 5 percent year-on-year. China's …

China's economic performance resilient amid challenges
5 months ago

China's economic performance resilient amid challenges

China Daily  

The skyline of Beijing. China's economy demonstrated a stable expansion in the first half of 2024, achieving a year-on-year GDP growth of 5 percent, equivalent to 61.68 trillion yuan, according to data released by the National Bureau of Statistics on Monday. Key economic indicators GDP growth The first half of 2024 saw China's GDP grow by 5 percent year-on-year. China's …

Interest rate cuts under threat from ‘stubbornly high inflation’
5 months, 1 week ago

Interest rate cuts under threat from ‘stubbornly high inflation’

The Telegraph  

Interest rate cuts by the Bank of England and Federal Reserve are at risk of being derailed by stubbornly high inflation, the International Monetary Fund has warned. Pierre Olivier Gourinchas, the IMF’s chief economist, warned that underlying inflation remained “persistent”, with global growth likely to suffer if the US keeps borrowing costs at their highest level since 2001. Speaking at …

Policy and resilience raise confidence in stable economic growth this year
6 months, 3 weeks ago

Policy and resilience raise confidence in stable economic growth this year

China Daily  

Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. The International Monetary Fund has raised its forecast for China's economic growth for 2024 to 5.0 percent from the previous 4.6 percent. The IMF also raised its forecast for China's economic growth to 4.5 percent for next year, up 0.4 percentage points compared with its April projection. …

IMF upgrades its forecast for China’s economy, but says reforms are needed to support growth
6 months, 3 weeks ago

IMF upgrades its forecast for China’s economy, but says reforms are needed to support growth

Associated Press  

The International Monetary Fund has upgraded its forecast for China’s economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth. The IMF’s report, issued late Tuesday, said the world’s second-largest economy will likely expand at a 5% annual rate this year, based on its growth in the first quarter and recent moves to support the property sector. …

Stabilizing economy augurs well for global growth
7 months, 1 week ago

Stabilizing economy augurs well for global growth

China Daily  

An employee works on the production line of a textile plant in Fuyang, Anhui province. Erik Berglof, chief economist of the Asian Infrastructure Investment Bank, said: "China has been and will remain an important contributor to global growth in the foreseeable future. A meeting of the Political Bureau of the Communist Party of China Central Committee in April said the …

Stabilizing economy augurs well for global growth
7 months, 1 week ago

Stabilizing economy augurs well for global growth

China Daily  

An employee works on the production line of a textile plant in Fuyang, Anhui province. Erik Berglof, chief economist of the Asian Infrastructure Investment Bank, said: "China has been and will remain an important contributor to global growth in the foreseeable future. A meeting of the Political Bureau of the Communist Party of China Central Committee in April said the …

IMF’s Georgieva says there’s ‘plenty to worry about’ despite recovery for many economies
8 months ago

IMF’s Georgieva says there’s ‘plenty to worry about’ despite recovery for many economies

Associated Press  

WASHINGTON — The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face of higher interest rates and the shock of war in Ukraine and Gaza, but “there is plenty to worry about,’' including stubborn inflation and rising levels of government debt. In the United States, she said, “the flipside’’ of …

IMF: Outlook for world economy is brighter, though still modest by historical standards
8 months, 1 week ago

IMF: Outlook for world economy is brighter, though still modest by historical standards

Associated Press  

WASHINGTON — The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth. In its latest outlook, the IMF, a 190-country lending organization, notes that the global expansion is being powered by unexpectedly strong …

Chinese economy will continue to defy its ill-intentioned critics
8 months, 1 week ago

Chinese economy will continue to defy its ill-intentioned critics

China Daily  

A view of the Huangpu River in Shanghai. Nicholas R. Lardy, senior fellow at the Peterson Institute for International Economics, published an article on the website of Foreign Affairs last week titled "China Is Still Rising-Don't Underestimate the World's Second-Biggest Economy", arguing that the US academics' recent view of China already peaking as an economic power underestimates the resilience of …

The global economy in 2024: Key clues to watch out for
11 months, 3 weeks ago

The global economy in 2024: Key clues to watch out for

Al Jazeera  

US interest rates, oil prices and the Chinese economy will determine the global economy next year. “And once an economic slowdown gets under way, it risks feeding on itself,” he said, adding that while falling inflation will be an important factor in determining monetary policy, “weakening growth will almost certainly determine when the Fed will pivot.” Federal funds futures are …

China's Xi Jinping says economic recovery 'still at critical stage', lists measures for revival
1 year ago

China's Xi Jinping says economic recovery 'still at critical stage', lists measures for revival

Firstpost  

“It is necessary to focus on accelerating the construction of a modern industrial system, expand domestic demand, prevent and defuse risks,” said Xi As sluggish domestic activity and property sector woes drag on a post-pandemic rebound, President Xi Jinping on Friday said that China’s economic recovery is at a “critical stage”. “At present, the country’s economic recovery is still at …

Asian economies under cosh as China's property woes bite: IMF
1 year, 2 months ago

Asian economies under cosh as China's property woes bite: IMF

Firstpost  

Meanwhile, the strength of the U.S. economy has offered less support to Asia than in the past because it has been focused on the service sector, which does not fuel demand for exports, the Fund said in a blog on the region’s outlook. China’s weak recovery and the risk of a more protracted property crisis could further dent Asia’s economic …

IMF chief says the global economy has shown resilience in the face of COVID, war and high rates
1 year, 2 months ago

IMF chief says the global economy has shown resilience in the face of COVID, war and high rates

Associated Press  

WASHINGTON — The global economy has shown “remarkable resilience’’ but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates, the head of the International Monetary Fund said Thursday. “While the recovery from the shocks of the past few years continues, it is slow and it is uneven,’’ IMF Managing Director Kristalina Georgieva said …

JPMorgan boss Jamie Dimon warns 7% interest rates would cripple the global economy as the Fed holds the line at 5.5%: 'You find out who is swimming naked when that tide goes out'
1 year, 2 months ago

JPMorgan boss Jamie Dimon warns 7% interest rates would cripple the global economy as the Fed holds the line at 5.5%: 'You find out who is swimming naked when that tide goes out'

Daily Mail  

The boss of JPMorgan has warned that the worst of the interest rate pain may still be ahead for businesses and families already scarred by an historic round of hikes. JPMorgan chief Jamie Dimon said that the Fed was forced to hold on another hike at its latest meeting because the effect of a jump to 5 to 7 percent …

China's great wall of debt driving ‘unsustainable’ increase in borrowing, IMF warns
1 year, 3 months ago

China's great wall of debt driving ‘unsustainable’ increase in borrowing, IMF warns

The Telegraph  

China is driving global debt back towards unsustainable levels amid an “unparalleled” borrowing binge by property developers and local governments, according to the International Monetary Fund. The IMF warned that a declining global debt share in 2022 risked being just a “pandemic blip” and said there was an urgent need to “restore fiscal sustainability”. “Global debt, which remained significantly higher …

China's curt response on economy to Joe Biden: ‘Resilient, not collapsed’
1 year, 3 months ago

China's curt response on economy to Joe Biden: ‘Resilient, not collapsed’

Hindustan Times  

China's economy is resilient and has not collapsed, the Chinese foreign ministry said as it rejected claims made by US president Joe Biden that its economy is faltering and could cause wider problems. US president Joe Biden called China's economic situation a "crisis" while Australian treasurer Jim Chalmers said a slowing Chinese economy could in turn weigh on Australia's. US …

China's economy on slow lane: Is the country's 4-decade glory run over?
1 year, 4 months ago

China's economy on slow lane: Is the country's 4-decade glory run over?

India Today  

The Chinese economy is in deep trouble and its ripples are being felt across the globe. Structural gaps in the Chinese economy had started to show even before the Covid-19 pandemic ravaged the world economy, but the miscalculated steps taken by the People's Republic of China made the economic situation worse. In 2021, GDP growth in China bounced back to …

China's economic resilience: Beyond Western misconceptions
1 year, 4 months ago

China's economic resilience: Beyond Western misconceptions

China Daily  

Containers are unloaded from a ship at a port of Qingdao, East China's Shandong province. Recent claims by some Western politicians and media outlets alleging that China's economic slowdown could jeopardize global growth deeply misconstrue realities. Furthermore, propagandized portrayals of looming "China collapse" theories reveal more about internal Western anxieties than actual Chinese economic conditions. Objective examination of China's durable …

Source of strength for recovery of global economy
1 year, 4 months ago

Source of strength for recovery of global economy

China Daily  

A view of Guangzhou's CBD area. Editor's Note: The following are excerpts of Foreign Ministry spokesman Wang Wenbin's response to a question at a regular news conference in Beijing on Wednesday about some Western politicians and media claiming that China's economic slowdown may pose risks to global economic growth: The fact is that China's economy continues to recover. According to …

Wall Street drops as faltering Chinese economy sets off global slide
1 year, 4 months ago

Wall Street drops as faltering Chinese economy sets off global slide

LA Times  

China’s recovery has faltered so much that it unexpectedly cut a key interest rate Tuesday and skipped a report on how many of its younger workers are unemployed. A sharp drop for Wall Street capped a day of declines around the world Tuesday after discouraging data on China raised worries about the global economy. But China’s recovery has faltered so …

China's Deflation: How the World's Second-Largest Economy Is Responding to Downturn?
1 year, 4 months ago

China's Deflation: How the World's Second-Largest Economy Is Responding to Downturn?

News 18  

China on Wednesday reported it had entered deflation for the first time since 2021 — the latest indicator pointing to a slowdown in the world’s second-largest economy. Here’s how Beijing is attempting to reverse the downturn: – Targeted stimulus – During the global financial crisis of the late 2000s, China unveiled a massive four trillion yuan stimulus plan. In the …

IMF global economic outlook sees slight growth, but inflation still a drag
1 year, 4 months ago

IMF global economic outlook sees slight growth, but inflation still a drag

Associated Press  

WASHINGTON — Global growth will see a slight improvement compared to previous International Monetary Fund projections but “many challenges still cloud the horizon, and it is too early to celebrate,” the organization’s chief economist said Tuesday. IMF economist Pierre-Olivier Gourinchas gave his assessment as the organization projected that global economic growth will slow to an estimated 3% in 2023 and …

The world economy is still in danger
1 year, 4 months ago

The world economy is still in danger

Hindustan Times  

Economists are not known for their optimism, but today their good cheer is palpable. Other central banks were following suit, their inflation problems made worse by a surging dollar —a particular problem for the emerging markets that borrow and trade using America’s currency. Yet news that America’s headline rate of annual inflation fell to 3% in June has fed hopes …

India, China to contribute half of global growth: IMF
1 year, 7 months ago

India, China to contribute half of global growth: IMF

Deccan Chronicle  

New Delhi: Growth in the dynamic Asia-Pacific region is projected to increase to 4.6 per cent this year from that of 3.8 per cent recorded in 2022, according to the International Monetary Fund which stated that the growth will be largely led by India and China. In its Regional Economic Outlook - Asia and Pacific report released on Tuesday, the …

Nation's pace of recovery offers global inspiration
1 year, 8 months ago

Nation's pace of recovery offers global inspiration

China Daily  

A view of Beijing's CBD area on Aug 19, 2022. The World Bank has revised its global growth prospects, thanks to a strong economic rebound by China following Beijing's optimization of COVID-19 containment measures. China's economy is now expected to grow by 5.1 percent in 2023, injecting new impetus into the global economic outlook, which is now projected to grow …

China's economy expected to rebound as zero-Covid era fades
1 year, 8 months ago

China's economy expected to rebound as zero-Covid era fades

Deccan Chronicle  

BEIJING: China is expected to announce an economic rebound on Tuesday, when Beijing releases its first quarterly GDP figures since abolishing growth-sapping Covid restrictions late last year. Property perils A creeping crisis in the property sector -- which together with construction accounts for around a quarter of China's GDP -- continues to "pose challenges to economic growth", said Rabobank analyst …

IMF: Prolonged high inflation dims outlook for world economy
1 year, 8 months ago

IMF: Prolonged high inflation dims outlook for world economy

Associated Press  

WASHINGTON — The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. The fund said the possibility of a “hard landing,” in which rising interest rates weaken growth so much as to cause a recession, has ”risen sharply,” especially …

IMF chief warns of a gloomy growth scenario
1 year, 8 months ago

IMF chief warns of a gloomy growth scenario

Hindustan Times  

Delivering a gloomy warning ahead of the spring meetings of the International Monetary Fund and World Bank, \, IMF’s managing director, said on Thursday that global growth dropped by half in 2022 and it will hover around 3% for the next five years, the lowest medium-term growth forecast since 1990. International Monetary Fund Managing Director Kristalina Georgieva poses for a …

IMF head expects less than 3% global economic growth in 2023
1 year, 8 months ago

IMF head expects less than 3% global economic growth in 2023

Associated Press  

WASHINGTON — The International Monetary Fund chief said Thursday the world economy is expected to grow less than 3% this year, down from 3.4% last year, increasing the risk of hunger and poverty globally. Kristalina Georgieva said the period of slower economic activity will be prolonged, with the next five years of growth remaining around 3%, calling it “our lowest …

Risk of hunger, poverty higher due to slow economic growth: IMF
1 year, 8 months ago

Risk of hunger, poverty higher due to slow economic growth: IMF

Al Jazeera  

IMF head said persistently high interest rates, a series of bank failures in the US and Europe, and deepening geopolitical divisions are threatening global financial stability. Kristalina Georgieva said on Thursday that growth is expected to remain about 3 percent for the next five years, calling it “our lowest medium-term growth forecast since 1990”, adding that it would be a …

US-China conflict could hit global GDP, IMF warns
1 year, 8 months ago

US-China conflict could hit global GDP, IMF warns

Live Mint  

Geopolitical fragmentation, driven by tensions between the US and China, risks damaging the global economy, with foreign direct investment and other capital increasingly being channeled toward aligned blocs of countries, the International Monetary Fund warns. The investment risk outlook is among the IMF’s loudest warnings since the coronavirus pandemic regarding global economic damage, particularly to poorer countries, from the US-China …

China to lift global growth amid uncertainty, IMF head says
1 year, 8 months ago

China to lift global growth amid uncertainty, IMF head says

China Daily  

Kristalina Georgieva, managing director of the International Monetary Fund, speaks at the China Development Forum 2023 in Beijing on March 26, 2023. China's economy is experiencing a strong rebound that will deliver a welcome lift to the world economy, contributing about one-third of global growth in 2023, said Kristalina Georgieva, managing director of the International Monetary Fund. It is advisable …

China's rebound will be positive for world economy, offset Fed risks
1 year, 9 months ago

China's rebound will be positive for world economy, offset Fed risks

China Daily  

A view of Beijing's CBD area on Aug 19, 2022. The US' annual inflation rate, which had soared close to 10 percent in summer last year, slowed, but slightly, to 6.4 percent in January, although the interest rate has been hiked to almost 5 percent. Despite the media hysteria in the West, China's annual inflation rate rose to only 2.1 …

IMF upgrades outlook for the global economy in 2023
1 year, 10 months ago

IMF upgrades outlook for the global economy in 2023

Associated Press  

WASHINGTON — The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. The IMF said China’s “recent reopening has paved the way for a faster-than-expected recovery.’’ The IMF now expects China’s economy — …

IMF lifts 2023 global growth forecast; says recession risk lower
1 year, 10 months ago

IMF lifts 2023 global growth forecast; says recession risk lower

The Hindu  

The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. The IMF said global growth would still fall to 2.9% in 2023 from 3.4% in 2022, but its latest World Economic Outlook forecasts …

US, Chinese officials discuss climate, economy, relationship
1 year, 11 months ago

US, Chinese officials discuss climate, economy, relationship

Associated Press  

ZURICH — U.S. Treasury Secretary Janet Yellen met on Wednesday with her Chinese counterpart and pledged an effort to manage differences and “prevent competition from becoming anything ever near conflict” as the two nations try to thaw relations. A U.S. Treasury readout of the 2 1/2-hour meeting says the two agreed that the U.S. and China would cooperate more on …

China’s economy grows 3% in 2022, hit by lockdowns, Covid surge
1 year, 11 months ago

China’s economy grows 3% in 2022, hit by lockdowns, Covid surge

The Hindu  

China’s economy grew 3% in 2022, the second-slowest growth rate since the last year of Mao Zedong’s Cultural Revolution in 1976, with the last quarter of the year seeing declining growth as the country dealt with a sweeping COVID-19 surge. The past year, however, has seen China’s “zero-Covid” policy, which was discontinued in early December, extract heavy economic tolls. Kang …

China to inject new impetus into global economy
1 year, 11 months ago

China to inject new impetus into global economy

China Daily  

Foreign enterprises and international experts believe that China's optimization of COVID-19 response, which expands the flows of people, will help activate the country's economic vitality and potential, and bring important benefits to world recovery and growth. Daniel Lacalle, chief economist at Spain's asset manager Tressis Management, noted that China's optimization of COVID-19 response is good news to the market in …

IMF chief's advice to China on reopening economy amid Covid
1 year, 11 months ago

IMF chief's advice to China on reopening economy amid Covid

Hindustan Times  

The head of the International Monetary Fund urged China to move forward with reopening its economy, calling the nation’s transition from a Covid Zero policy to more normal functioning likely the single most important factor for global growth in 2023. Read here: WHO says Covid deaths in China ‘heavily underreported’; praises US transparency The Washington-based financial institution believes that a …

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