Viral economies: The Hindu Editorial on coronavirus impact on global economy
4 years, 10 months ago

Viral economies: The Hindu Editorial on coronavirus impact on global economy

The Hindu  

The global economy appears headed for uncharted, troubled territory thanks to the second wave of the coronavirus that has now spread to countries as far apart as Nigeria and New Zealand. The virus has crippled global supply chains, hit air travel and convulsed markets as it appears all set to adversely impact the U.S. economy, the global economic engine. A slowdown or worse, recession, in the two global economic engines is bad news for the world economy, which may well tilt into recession. The U.S. markets experienced their worst week since the 2008 global financial crisis as the Dow Jones Industrial Average and the S&P 500 fell by over 12%.

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History of this topic

DC Edit | Inflation, exports still a concern
1 year, 4 months ago

DC Edit | Inflation, exports still a concern

Deccan Chronicle  

India’s economy performed well by growing at the rate of 7.8 per cent in the first quarter of financial year 2023-24, thanks to a significant increase in private consumption, government capital expenditure, financials and services. Though the current growth rate pales in comparison with 13.1 per cent expansion in the economy witnessed in the first quarter of FY 2022-23, it …

The global economy needs a new powerhouse. India is stepping up
1 year, 11 months ago

The global economy needs a new powerhouse. India is stepping up

Live Mint  

India’s economic transformation is kicking into high gear.Global manufacturers are looking beyond China, with Prime Minister Narendra Modi stepping up to seize the moment. “India is on the cusp of huge change,” said Nandan Nilekani, a founder of Infosys Ltd., one of the nation’s largest technology services companies. “A lot of companies feel that given its size, given its young …

China economy again on bumpy road as Covid infection surge detracts recovery
2 years ago

China economy again on bumpy road as Covid infection surge detracts recovery

India TV News  

With resurge of Covid cases, China economy once again is staring at downfall trend. "If the virus were highly infectious and everyone's life were in danger, the government wouldn't let go.” On Tuesday, the government announced it would relax restrictions on travel out of China and resume issuing passports for tourist travel for the first time in nearly three years. …

India is a glimmer of hope in a slowing world
2 years ago

India is a glimmer of hope in a slowing world

Live Mint  

As we welcome 2023, there is much to be optimistic about and as much to reflect on. From bringing global manufacturing and supply chains to India to striking astute bilateral trade deals to building the much-needed infrastructure at a steady pace, the Prime Minister has dramatically altered not only the ease of doing business but also rendered the country a …

Explained | Is the economy driving with the brakes on?
2 years ago

Explained | Is the economy driving with the brakes on?

The Hindu  

The story so far: At this time last December, India’s economy was on the cusp of a fledgling recovery from the COVID-19 pandemic, though the Omicron variant posed fresh speed bumps for the rebound. As JP Morgan managing director and India chief economist Sajjid Chinoy explained at a CII economic policy summit last week, 2022 was expected to see a …

Mint Explainer: Covid may speed up China's loss of manufacturing supremacy
2 years ago

Mint Explainer: Covid may speed up China's loss of manufacturing supremacy

Live Mint  

The covid-19 pandemic is causing a gradual shift in global manufacturing as companies look for alternatives to China as a supply source. China’s decline as a manufacturing hub For almost three decades, the Chinese economy grew in near double digits. In fact, a parliamentary panel pointed out last year that India is not the first choice for companies shifting out …

In our 'profound interest' that China reins in latest surge in coronavirus infections: Antony Blinken
2 years ago

In our 'profound interest' that China reins in latest surge in coronavirus infections: Antony Blinken

The Hindu  

It is in America's "profound interest" that China reins in the recent surge in coronavirus infections, U.S. Secretary of State Antony Blinken has said, asserting that there are major implications if the world's second-largest economy remained shut down due to the virus. When asked about the latest surge in COVID-19 cases in China, Mr. Blinken said the U.S. wants to …

A tale of two economies trying to put covid behind them
2 years, 1 month ago

A tale of two economies trying to put covid behind them

Live Mint  

The Chinese Communist Party rarely steps back from mistaken policies. A report in Wednesday’s Financial Times, quoting research from Wigram Capital Advisors, a macro economic research firm I work with part-time, warns of acute ICU shortages early next year. Wigram’s modelling suggests that ICU demand in March could be 10 times higher than China’s underfunded medical system’s capacity, and that …

Can India Capitalise on China’s Zero-Covid Failure And Become the Future Factory of the World? - News18
2 years, 1 month ago

Can India Capitalise on China’s Zero-Covid Failure And Become the Future Factory of the World? - News18

News 18  

Covid protests have gripped several cities of China, including Beijing and Shanghai, spilling over to Hong Kong with even Chinese embassies in global metropolises like London, Paris and Tokyo as well as universities in US and Europe. Can tensions surrounding China’s zero-Covid policy present an opportunity for India to rejig supply chain models? While the total global manufacturing value added …

Enterprises' rising profits a cure for market anxiety
2 years, 1 month ago

Enterprises' rising profits a cure for market anxiety

China Daily  

Workers hoist steel bars at a logistics park in Huzhou, Zhejiang province. Business revenues of industrial enterprises in China above designated size increased by 7.6 percent year-on-year from January to October, but the total profits fell by 3 percent year-on-year, 0.7 percentage points lower than the January-September period, the latest data show. Despite this, the industrial structure of profits continue …

China consumer, factory activity down as virus controls rise
2 years, 1 month ago

China consumer, factory activity down as virus controls rise

Associated Press  

BEIJING — Chinese consumer spending contracted in October and factory activity weakened as anti-virus controls following a rise in infections weighed on the economy. The performance was even weaker than expected by forecasters who said activity would cool as Chinese anti-virus controls and interest rate hikes by the U.S. Federal Reserve and other central banks weighed on global activity. Chinese …

Official: China’s economy reviving as anti-virus curbs ease
2 years, 7 months ago

Official: China’s economy reviving as anti-virus curbs ease

Associated Press  

BEIJING — China’s factory and consumer activity fell even more than expected in April under anti-virus controls, official data showed Monday, but a Cabinet official said the economy is reviving as anti-virus curbs ease and its commercial capital of Shanghai reopens. “The pace of recovery in consumption will accelerate as the impact of the epidemic is brought under control.” The …

China steers economy through challenges
2 years, 8 months ago

China steers economy through challenges

China Daily  

Editor's note: The Chinese economy faces severe challenges because the wave of the COVID-19 infections could lower GDP growth. MA XUEJING/CHINA DAILY Some foreign media say China's economic growth target of about 5.5 percent is too high, and its economic prospects are unattainable. The"2022 White Paper on the Business Environment in China" and the "2022 Special Report on the State …

An already slowed Indian economy faces fresh risks
2 years, 10 months ago

An already slowed Indian economy faces fresh risks

Al Jazeera  

Rising crude oil prices and supply disruptions following Russia’s invasion of Ukraine could further sap an Indian economy already slowed by COVID-19, posing risks to household spending and private investments, economists have said. The “surge in oil prices as a result of the crisis poses considerable risks to the Indian economy”, Aditi Gupta, an economist at Bank of Baroda, said …

Living with covid proving tough for a gridlocked world economy
2 years, 11 months ago

Living with covid proving tough for a gridlocked world economy

Live Mint  

The surging omicron variant is complicating the recovery for a world economy that continues to be wracked by supply chain chaos, worker absenteeism and faltering assembly lines. Analysis by Nomura of omicron’s impact on nations hit early like the U.K. and Canada shows shorter duration waves, faster descents from peaks and lower death rates than the delta variant. “While it …

Covid-19: Omicron surge cripples several businesses, to hit economic recovery
3 years ago

Covid-19: Omicron surge cripples several businesses, to hit economic recovery

India Today  

A fresh wave of Covid-19 infections in India has cast a shadow over economic recovery as several sectors have been impacted by fresh restrictions that have been announced in view of the situation. Numerous businesses spanning across multiple sectors have been impacted in light of the fresh restrictions imposed by states. While many people are still travelling despite the fresh …

Economic activity in India is set to gather steam in the new year
3 years ago

Economic activity in India is set to gather steam in the new year

Live Mint  

With a new year to be ushered in shortly, there is much anticipation about what lies ahead for Indian industry and India’s economy. The other positive factors that hold out hope in the new year include the continuing export boom, surge in tax revenues, improvement in manufacturing growth, shrinking pile of bad debts with banks, booming corporate profits, sustained growth …

Jaishankar bats for domestic production over unchecked globalisation
3 years ago

Jaishankar bats for domestic production over unchecked globalisation

The Hindu  

The COVID-19 pandemic has brought India’s capabilities and need for more domestic production rather than unchecked globalisation, External Affairs Minister S. Jaishankar said on Tuesday, speaking at a technology summit, where he said that to foster technology growth, the nation must seek more education, skills, start-ups, supply chains and jobs to be created internally. Domestic supply chain “The idea that …

Explained: Is India's economy gaining immunity against Covid-19?
3 years, 4 months ago

Explained: Is India's economy gaining immunity against Covid-19?

India Today  

India’s economy is on track to rebound sharply after two waves of the Covid-19 pandemic dampened growth during all four quarters of FY21. A majority of financial analysts predict GDP growth at 18-20 per cent in the June quarter and remain optimistic about economic recovery in upcoming quarters as the second wave fades and more Indians get vaccinated against the …

China’s economy is being rattled by the Delta variant and supply chain woes
3 years, 4 months ago

China’s economy is being rattled by the Delta variant and supply chain woes

CNN  

Hong Kong CNN Business — China’s economy stalled this month as the country tried to stamp out a surge in coronavirus cases and contended with the ongoing shipping crisis. China’s economy initially coped with the pandemic much better than many of its peers, recording growth last year as others shrank. “The latest surveys suggest that China’s economy contracted last month …

China growth forecasts slashed as Delta variant spreads across the country
3 years, 4 months ago

China growth forecasts slashed as Delta variant spreads across the country

CNN  

Hong Kong CNN Business — China’s worst coronavirus outbreak in a year has authorities taking dramatic measures to stamp out new infections. “With the virus spreading to many of China’s provinces and local governments reacting swiftly to control the spread of the highly contagious Delta variant, we have begun to see softening in national aggregate data,” the analysts said in …

India's economy shows signs of recovery as factory activity rises in July
3 years, 5 months ago

India's economy shows signs of recovery as factory activity rises in July

India Today  

India’s economy has shown signs of recovery in July as factory activity rebounded on the back of rising domestic and international demand. IHS Market’s survey confirmed that output rose at a robust pace, with over one-third of companies noting a monthly expansion in production as business rebound and Covid restriction ease. Read | Factory activity shrinks for first time in …

The global trade map after Covid-19
3 years, 5 months ago

The global trade map after Covid-19

Hindustan Times  

In the wake of rising protectionism over the last half decade, the sudden economic stops wrought by Covid-19, the corollary disruptions of supply chain activity, and shocks to supply and demand, commentators from across the globe have trumpeted the ‘end’ of globalisation. Looking beyond goods, cross-border exchanges of services, as well as flows of finance, and exchanges of human capital …

India Coming Out of Second Wave of Covid-19; Will Witness Strong Economic Recovery: Jaishankar
3 years, 6 months ago

India Coming Out of Second Wave of Covid-19; Will Witness Strong Economic Recovery: Jaishankar

News 18  

India is coming out of the second wave of the coronavirus pandemic and it will witness a strong economic recovery and contribute to being an engine of growth for the global economy, External Affairs Minister S Jaishankar said on Tuesday. In a virtual address at the inaugural session of the Indo-Pacific business summit, he said India will be a more …

India's factory activity growth slipped in May as demand fell
3 years, 7 months ago

India's factory activity growth slipped in May as demand fell

India Today  

India's factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday. India has already reported around 28 million coronavirus cases and over 300,000 deaths, leading many states to impose restrictions affecting economic activity. Read | Core …

Indian economy, hit by COVID-19, shrinks by 7.3% in 2020-21
3 years, 7 months ago

Indian economy, hit by COVID-19, shrinks by 7.3% in 2020-21

Associated Press  

NEW DELHI — India’s economy, pummeled by the coronavirus pandemic, contracted by 7.3% in the 2020-21 financial year, just before the country was hit by another catastrophic surge in infections. Daily new cases set global records, spurring many states to announce widespread restrictions and lockdowns. In January, a government survey estimated the economy -- previously one of the fastest growing …

Indian economy's ability to rebound on test amid threats from second wave
3 years, 7 months ago

Indian economy's ability to rebound on test amid threats from second wave

Hindustan Times  

The Indian economy’s resilience will be tested by its ability to overcome a devastating outbreak of Covid-19, although no one’s yet doubting its potential to pull off the world’s fastest pace of growth among major economies this year. Data due later Monday will probably show gross domestic product grew 1% in the three months ended March, making it the second …

The economic crisis is real; the picture of economic resilience is an illusion
3 years, 7 months ago

The economic crisis is real; the picture of economic resilience is an illusion

The Hindu  

As the ongoing second wave of coronavirus infections in India peaks, there is little clarity on what its economic fallout is and will be. Two assessments from official sources—one from the Reserve Bank of India, titled The State of the Economy and the other from the Ministry of Finance, titled Month Economic Report for May—seem to suggest that economic trends …

India’s stock markets keep rising even as many traders grapple with grief
3 years, 7 months ago

India’s stock markets keep rising even as many traders grapple with grief

Live Mint  

As Covid-19 continues to ravage India, financial professionals across the country are grappling with an increasingly surreal disconnect between the epidemic’s devastation and a record-breaking boom in local markets. The measure’s surge to a record on Thursday has coincided with the fastest rate of Indian initial public offerings since 2017 and an unprecedented flood of foreign-currency bond issuance by local …

India’s economic report card is drenched in red ink
3 years, 7 months ago

India’s economic report card is drenched in red ink

Live Mint  

India’s nascent economic recovery has been derailed by the second covid-19 wave even before it could gather steam. Launched in October 2018, Mint’s macro tracker provides a monthly state-of-the-economy report based on trends in 16 high-frequency indicators across four segments: consumer economy, producer economy, external sector, and ease of living. A year ago, during the first nationwide lockdown, 13 of …

Second Covid Wave Poses Downside Risks to India's Economic Growth: S&P
3 years, 8 months ago

Second Covid Wave Poses Downside Risks to India's Economic Growth: S&P

News 18  

S&P Global Ratings on Wednesday said the second wave of Covid infections poses downside risks to India’s GDP and heightens the possibility of business disruptions. Last week another global rating agency Fitch had projected India’s economic growth in current fiscal at 12.8 per cent, while Moody’s Investors Service had earlier this month said that the second wave of Covid infections …

India's GDP to Grow at 11% This Fiscal, Surge in Covid Cases May Put Economic Recovery at Risk: ADB
3 years, 8 months ago

India's GDP to Grow at 11% This Fiscal, Surge in Covid Cases May Put Economic Recovery at Risk: ADB

News 18  

The Indian economy is projected to grow at 11 per cent in the current financial year amid the “strong” vaccine drive, said ADB on Wednesday, while cautioning that the recent surge in Covid cases may put the country’s economic recovery at “risk”. “India’s economy is expected to grow 11 per cent in fiscal year 2021, which ends on March 31, …

Global investors confident in China's growth
3 years, 8 months ago

Global investors confident in China's growth

China Daily  

A view of Beijing on Oct 28, 2020. Chinese equities have become even more attractive to global investors as the nation's robust economic recovery backed by a strong domestic market provides a stable and predictable environment amid COVID-19-related global uncertainties, top asset managers said. BlackRock, the world's biggest asset manager, with $9.01 trillion under management, is favoring Chinese equities that …

Economic impact of 2nd Covid-19 wave could worsen in coming weeks. Here's why
3 years, 8 months ago

Economic impact of 2nd Covid-19 wave could worsen in coming weeks. Here's why

India Today  

A sharp surge in daily cases during the second wave of the Covid-19 pandemic has led to stricter lockdowns in most states. Brokerage firm Nomura recently said in a report that the pace of business activity resumption has taken a huge knock due to the mobility restrictions across Indian states. Business activity in India has started plummeting since the second …

V-shaped recovery unlikely as India's economy faces tougher Covid test
3 years, 8 months ago

V-shaped recovery unlikely as India's economy faces tougher Covid test

India Today  

India’s economic recovery has been cut short by an unprecedented Covid-19 wave that has forced many states to impose localised lockdowns. In January, the government said India’s economy would see a ‘V-shaped’ recovery as economic activity resumed in full swing after the first wave. ECONOMY FACES COVID TEST India’s gross domestic product could go through multiple revisions in the current …

Trade is giving China’s economic recovery a boost
3 years, 8 months ago

Trade is giving China’s economic recovery a boost

CNN  

CNN Business — China’s economic recovery is continuing to gather steam. It’s a sign that demand within China is picking up as the country moves past the worst of the economic damage wrought by the coronavirus pandemic. “The global reopening amid the vaccinations rollouts and improving global outlook should hold the external demand supportive, while the global supply-chain normalization could …

Explained: 4 ways how fresh Covid-19 restrictions can disrupt economic recovery
3 years, 9 months ago

Explained: 4 ways how fresh Covid-19 restrictions can disrupt economic recovery

India Today  

A sharp rise in Covid-19 cases could severely slow down India’s economic recovery as many states have now started reimposing partial restrictions. India's economic recovery momentum could take a huge hit if states decide to impose stricter restrictions to contain the infection. Here are four ways in which fresh Covid curbs can hurt the economy: IMPACT ON ECONOMIC ACTIVITY A …

Will covid-19 halt India’s economic recovery once again?
3 years, 9 months ago

Will covid-19 halt India’s economic recovery once again?

Live Mint  

After months of erratic economic performance, India’s economic momentum had picked up pace last February, only to be stopped on its tracks by a global pandemic. Mint’s macro tracker shows a steady improvement in economic indicators over the past few months but a renewed surge in infections once again poses a threat to economic activity and investor sentiments. Launched in …

Coronavirus | Pandemic may have doubled poverty in India, says Pew study
3 years, 9 months ago

Coronavirus | Pandemic may have doubled poverty in India, says Pew study

The Hindu  

March 19, 2021 08:07 pm | Updated March 20, 2021 10:59 am IST - NEW DELHI India’s middle class may have shrunk by a third due to 2020’s pandemic-driven recession, while the number of poor people — earning less than ₹150 per day — more than doubled, according to an analysis by the Pew Research Center. “The middle class in …

Pandemic pushes 32 mn Indians out of middle class: Pew Research
3 years, 9 months ago

Pandemic pushes 32 mn Indians out of middle class: Pew Research

Live Mint  

Financial woes brought by last year's coronavirus pandemic have pushed about 32 million Indians out of the middle class, undoing years of economic gains, a report showed on Thursday, while job losses pushed millions into poverty. The number of Indians in the middle class, or those earning between $10 and $20 a day, shrunk by about 32 million, compared with …

Kandaswami Subramanian reviews Indian Economy’s Greatest Crisis, by Arun Kumar
3 years, 11 months ago

Kandaswami Subramanian reviews Indian Economy’s Greatest Crisis, by Arun Kumar

The Hindu  

It is difficult to keep abreast of the flow of writings on the genesis and spread of the COVID-19 infection by medical experts and by economists on its economic impact. Weaknesses exposed Prof. Joseph Stiglitz, a Nobel laureate, observed in a session of the UN General Assembly, “The crisis exposed weaknesses in economies, governments, and societies, with developed countries unable …

China economy recovered fastest post pandemic: NITI Aayog
4 years ago

China economy recovered fastest post pandemic: NITI Aayog

Live Mint  

China gained the most during the covid-19 pandemic and its economy recovered the fastest, while India continues at a slow pace, experts of NITI Aayog said. An expected shift of manufacturing from China to India in the next few years could boost local production, the experts said during a meeting of the parliamentary standing committee on finance on ‘The long-term …

2020: How Coronavirus Pandemic Maybe a Masked Opportunity for Indian Startup Ecosystem
4 years ago

2020: How Coronavirus Pandemic Maybe a Masked Opportunity for Indian Startup Ecosystem

News 18  

Life as an Indian startup has always been an uneven ride. This last decade has seen the startup ecosystem grow exponentially, with over USD 14.5 billion worth of capital raised in 2019 alone. Today, as I look back at a year that has challenged our nation’s startup ecosystem like never before, I think it’s time to draw inspiration from the …

Resilient supply chains as a pandemic lesson
4 years ago

Resilient supply chains as a pandemic lesson

The Hindu  

A key lesson learnt by the world during the COVID-19 pandemic has been the importance of creating resilient supply chains that can withstand disruptions and ensure reliability for the global economy. For many Japanese companies, global performance and profits are linked to manufacturing facilities and supply chains in China. For instance, the pandemic caused a breakdown in global supply chains …

‘Supply chain shift from China may benefit India’
4 years ago

‘Supply chain shift from China may benefit India’

The Hindu  

India could benefit from the likely shift in global supply chains from China to other economies in the aftermath of the COVID-19 pandemic, according to a survey. Nearly 70% of the survey participants have said India could benefit from this move and they expect a fair share of manufacturing to shift from China to India in the near future,” said …

Indian economy recovering fast, growth to turn positive in third quarter: RBI
4 years ago

Indian economy recovering fast, growth to turn positive in third quarter: RBI

India TV News  

The economy is coming out of the COVID-19 pandemic's deep abyss faster than most of the predictions, and the growth will enter positive zone in the third quarter of the current financial year, said an article on the 'state of economy' in the RBI Bulletin. Impacted by the coronavirus pandemic, the Indian economy dipped by a historic 23.9 per cent …

India suffers first recession in decades
4 years, 1 month ago

India suffers first recession in decades

CNN  

New Delhi/London CNN Business — India has plunged into recession for the first time in nearly a quarter of a century as the pandemic continues to weigh heavily on Asia’s third biggest economy, which economists warn will struggle to recover from the slump. Government consumption also fell sharply in part because of an“inadequate fiscal response to the crisis,” said senior …

India Will Be Worst Affected Among Major Economies Even After Coronavirus Pandemic Wanes: Report
4 years, 1 month ago

India Will Be Worst Affected Among Major Economies Even After Coronavirus Pandemic Wanes: Report

News 18  

India will be the worst affected among the world’s major economies even after the coronavirus pandemic wanes, with output 12% below pre-virus levels through the middle of the decade, according to global forecasting firm Oxford Economics. “We forecast India’s growth equilibrium to worsen substantially over the medium term, with potential growth averaging just 4.5% over 2020-2025 in our latest baseline, …

2020 could be for manufacturing what 1991 was for our economy
4 years, 2 months ago

2020 could be for manufacturing what 1991 was for our economy

Live Mint  

India, once a predominantly agrarian economy, has come to be acknowledged globally as a software/ information technology giant. While there have been state interventions aimed at industrialization, ranging from the “temples of modern India” to special economic zones, an Indian manufacturing revolution never really took off in earnest. His government launched an ambitious “Make in India” programme in September 2014 …

Indian economy shows signs of revival as we gear up to emerge from Chinese coronavirus pandemic
4 years, 2 months ago

Indian economy shows signs of revival as we gear up to emerge from Chinese coronavirus pandemic

Op India  

As India gradually emerges out of the strict and unyielding coronavirus lockdown it had imposed to curb the spread of the deadly contagion, the economy of the country which had come to a standstill is showing positive and encouraging signs of robust economic recovery. Perhaps the biggest growth story in the Automobile sector is charted by Maruti Suzuki which reported …

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