NEW YORK, NY, Tuesday, February 27, 2024 – BlackRock, the world’s largest asset manager, projects moderate real GDP growth of 1.5-2% for the United States in 2024, according to comments made by Rick Rieder, the firm’s Chief Investment Officer (CIO), on CNBC’s “Closing Bell” program on February 15. Rieder acknowledged market concerns surrounding recent inflation […]
Beijing, Monday, September 9, 2024- China will remove all restrictions on foreign investment in the manufacturing sector starting November 1, 2024, according to an announcement from the National Development and Reform Commission (NDRC) on Sunday. The updated 2024 negative list, jointly issued by the NDRC and the Ministry of Commerce (MOC), reduces the number of […]
BEIJING, China, Thursday, August 22, 2024- China has officially recognized virtual asset transactions as potential vehicles for money laundering, expanding its anti-money laundering (AML) laws to cover these activities. The Supreme People’s Court and the Supreme People’s Procuratorate announced the new interpretation of AML laws on August 19. The announcement can be reached here. This […]
New York, Monday, November 04, 2024-– China is reportedly considering a massive $1.4 trillion debt issuance over the next several years in an effort to reinvigorate its struggling economy, Reuters news agency has reported in an exclusive report. The National People’s Congress (NPC) meeting, starting today, November 4 and ending on the 8th, is expected […]
Beijing, Friday, October 18, 2024-China’s economy grew at its slowest rate since early 2023, as official figures for the third quarter revealed a 4.6% increase in gross domestic product (GDP). The figure, released by the National Bureau of Statistics, fell short of the government’s “around 5%” target for 2024, marking the second consecutive quarter of […]
DAVOS, Switzerland, Monday, February 19, 2024 – Global financial technology firm Circle released its second annual State of the USDC Economy Report on January 15, 2024, titled “Welcome to the Era of Open Money.” The report paints a picture of significant growth and adoption for USDC, a regulated stablecoin pegged to the US dollar. Circle […]
New York, Tuesday, September 3, 2024 – Bitcoin is hovering around $60,000 amid fears that the U.S. dollar could be on the brink of a major crisis, an article in the Forbes Magazine said. Last week saw significant economic forecasts, political clashes, and corporate revelations. Economist Peter Schiff warned of inflation risks as the U.S. […]
New York, Thursday, September 19, 2024 – The US Federal Reserve slashed its benchmark interest rate by 50 basis points, bringing it down to 4.75%-5.00%. This is the first time in four years that the Fed has made such a sharp rate cut. Fed highlighted the decision as a recalibration to protect the job market […]
New York, Tuesday, October 22, 2024-The International Monetary Fund (IMF) projects that global public debt will surpass $100 trillion by the end of this year, amounting to 93% of the world’s gross domestic product (GDP). This forecast signals a growing concern as major economies like the US and China continue to see rising debt levels, […]
London, Thursday, November 07, 2024-The global economy faces fresh uncertainty after Donald Trump’s election victory, with concerns mounting over the potential impact of US-led protectionist policies. Economists and policymakers across Europe and Asia are reassessing risks as Trump’s promises to tighten trade restrictions and cut security ties with allies loom. German and European economies, which […]
New York, Tuesday, October 22, 2024-The global economy is entering the year-end with unexpected optimism as slowing inflation raises hopes for a soft landing. However, significant political hurdles loom on the horizon, particularly as the US presidential election approaches, which may lead to starkly different economic outcomes. Finance ministers and central bank leaders are convening […]
NEW YORK, Tuesday, July 2, 2024- The Bank for International Settlements (BIS) issued a stark warning on Monday, highlighting significant threats to global financial stability. The report, titled “Challenges Ahead,” emphasizes the dangers posed by unsustainable government debt trajectories and potential supply-side disruptions. The BIS Report can be read here. The BIS points to rising […]
Washington, Tuesday, August 13, 2024– The International Monetary Fund (IMF) said Monday it has made progress in talks with El Salvador on a potential economic aid package. The fund is focusing on fiscal consolidation, strengthening financial reserves, and improving governance. The Statement by the IMF can be reached here. While the IMF continues to evaluate […]
BERLIN, Germany, Wednesday, April 24, 2024 – The annual cost of climate change could reach $38 trillion by 2050, six times higher than the estimated cost of limiting global warming to 2 degrees Celsius above pre-industrial levels, a new study by the Potsdam Institute for Climate Impact Research (PIK) published in Nature said on April […]
London, UK, Monday, February 19, 2024 – The UK economy officially entered a technical recession in the final quarter of 2023, according to data released on February 15 by the Office for National Statistics (ONS). Gross domestic product (GDP) contracted by 0.3% following a 0.1% decline in the previous quarter, marking the first back-to-back decrease […]
WASHINGTON, Monday, July 31 – The U.S. national debt has skyrocketed to $30 trillion, a level that is unsustainable and threatens the country’s economic security, the Cato Institute warned on Tuesday. The libertarian think tank said that the debt has increased by $8 trillion since President Joe Biden took office in January 2021, and is […]