China’s economy is still growing, but the pace of its recovery slowed in the second quarter as the country contended with surging commodity prices and supply chain disruptions. GDPgrew 7.9% in the April-to-June quarter compared with the same period a year ago, China’s National Bureau of Statistics said Thursday… To read more: https://edition.cnn.com/2021/07/14/economy/china-q2-gdp-2021-intl-hnk/index.html SOURCE: CNN (5)
What comes next for India’s deeply scarred economy?
During the worst of the pandemic in India in recent weeks, much of whatever supply of oxygen there was for COVID-stricken patients came not from government action, as might have been expected, but rather from the efforts of private companies and nonprofit organizations. Numerous governments have let down their citizens during the crisis, but in […]
India supercharged its economy 30 years ago. Covid unraveled it in a matter of months
Thirty years ago, on a summer evening in late July, India liberalized its Soviet-style economy in a transformation that eventually pulled about 300 million out of poverty, fueling one of the biggest wealth creations in history. Then came the world’s fastest coronavirus surge which left overflowing hospitals turning away the dying and crematorium smoke Read […]
Record high fuel prices put India’s economy on slippery track. Here’s why
High fuel taxes combined with a recovery in international crude oil rates have made life difficult for millions of households, putting India’s economic recovery in jeopardy. Retail prices of petrol and diesel are hitting record-high levels almost daily as state-run oil marketing companies (OMCs) continue to revise rates upwards. Petrol price has crossed Rs 100 per litre […]
Chinese tech giant Baidu spins off $2 billion AI chip unit, gears up for homegrown production amid fierce competition
Chinese search giant Baidu Inc has confirmed that its artificial intelligence (AI) chip unit Kunlun has been spun off as an independent company with a valuation of 13 billion yuan ($2 billion), underscoring the Chinese internet giant’s ambition in developing and commercializing its in-house chipsets amid growing industry competition. Ouyang Jian, the chief architect of […]
India’s economic report card is drenched in red ink
Nine of the 16 high-frequency indicators in Mint’s monthly macro tracker were in red, or below their five-year average trend. This is not as bad as April 2020, but the outlook is more uncertain than before. India’s nascent economic recovery has been derailed by the second covid-19 wave even before it could gather steam. Just […]
For China, excess economic stimulus not as risky as tapering stimulus too quickly, economists say
hina’s economy is not at risk of overshooting on economic stimulus, despite the recent strong rise in commodity prices, and any attempts to aggressively taper economic support would be more detrimental than helpful, according to economists… To read more: https://www.scmp.com/economy/china-economy/article/3134809/china-excess-economic-stimulus-not-risky-tapering-stimulus SOURCE: SCMP (5)
China’s Economic Miracle Is Ending
The China miracle is ending. That miracle consisted of very exceptionally strong growth of the economy. By 2010, GDP per capita, adjusted for inflation, was 17 times higher than it had been in 1980. Consider that if living standards doubled in a generation, that would be pretty cool. But a 17 times increase? That can […]
Has China’s economy fully recovered from Covid-19?
China’s economy expanded by a dizzying 18.3 per cent in the first three months of 2021 from a year earlier, sealing its status as Covid-19’s “first in, first out” economy. It was the only major economy that showed an increase in gross domestic product (GDP) last year after successfully controlling the spread of the coronavirus pandemic at […]
India’s once-in-a-century budget runs into trouble as COVID-19 strikes back
India’s annual budget in February was lauded by many and raised hopes it would drive a sharp economic revival, but there are now fears that its promise may fall flat as it did not account for a crippling second wave of COVID-19 infections. The budget aimed to revive Asia’s third-largest economy via investing in infrastructure […]