Tag: China

G7 rivals China with grand infrastructure plan | Reuters

The Group of Seven richest democracies on Saturday sought to counter China’s growing influence by offering developing nations an infrastructure plan that would rival President Xi Jinping’s multi-trillion-dollar Belt and Road initiative.
— Read on www.reuters.com/world/g7-counter-chinas-belt-road-with-infrastructure-project-senior-us-official-2021-06-12/

World shares mixed as China reports jump in inflation

BANGKOK (AP) — World shares are mixed after China reported a big jump in factory gate prices at a time when inflation is a top investor concern. Shares fell London, Frankfurt, Tokyo and Hong Kong but rose in Paris and Shanghai. U.S. futures edged higher. China’s producer price index, which measures prices of raw goods and services, jumped 9% from a year earlier in May, the fastest increase since 2008 and above analysts’ forecasts, the government said. However, the headline consumer price index r
— Read on ca.finance.yahoo.com/news/asian-shares-mixed-china-reports-062350721.html

China’s Growth Set to Drive World Economy in Post-Pandemic Years

(Bloomberg) — China will drive global economic growth in the coming years as the world recovers from an pandemic that’s killed 2.9 million people, the International Monetary Fund predicts.China will contribute more than one-fifth of the total increase in the world’s gross domestic product in the five years through 2026, according to Bloomberg calculations based on IMF forecasts published Tuesday. Global GDP is expected to rise by more than $28 trillion to $122 trillion over that period, after falling $2.8 trillion last year in the biggest peacetime shock to output since the Great Depression. The U.S. and India will be the second and third-biggest contributors to global growth in the period, according to the IMF, with Japan and Germany rounding out the top five. Overall, the IMF forecasts that the global economy will expand 6% this year, before slowing toward a 3% pace by 2026. It also warned that growth in the coming expansion may be unevenly spread, with developing economies expected to have bigger losses and slower recoveries. “Income inequality is likely to increase significantly because of the pandemic,” the Fund said in its World Economic Outlook report. “Close to 95 million more people are estimated to have fallen below the threshold of extreme poverty in 2020 compared with pre-pandemic projections.”One reason for the divergence is the faster-than-expected recovery in the U.S. It’s the only large economy where the IMF’s GDP forecast for 2022 is actually higher now than it was before the pandemic. Rising U.S. interest rates could pose a threat to recovery in highly leveraged emerging-market and developing economies, IMF Chief Economist Gita Gopinath wrote in a blog post.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
— Read on ca.finance.yahoo.com/news/china-growth-set-drive-world-171442282.html

U.S. economic growth could surpass China this year, and Democrats may be better off spending stimulus money on something else, Fed’s Bullard says – MarketWatch

While President Joe Biden and Congressional Democrats insist the economy needs another $1.9 trillion stimulus package, St. Louis Fed President James Bullard…
— Read on www.marketwatch.com/story/u-s-economic-growth-could-surpass-china-this-year-and-democrats-may-be-better-off-spending-stimulus-money-on-something-else-feds-bullard-says-11612384730

What it will take for the U.S. to build a 100% renewable electric grid

The U.S. electric grid is outdated. Designed for a world that runs on fossil fuels, it needs some major tech upgrades in order to transition to a more distributed, all-renewable system. That means smart, internet connected hardware working in tandem with advanced data analytics software to ensure that supply and demand are balanced, even when the sun isn’t shining or the wind isn’t blowing.
— Read on www.cnbc.com/video/2020/11/17/china-is-aiming-to-become-a-global-climate-leader.html