There was a long period of stronger productivity growth from 1917 to 1973 driven by low-cost oil and increasing usage of cars and more efficient factories. We are entering a new period of stronger productivity growth from energy cheaper than oil, self-driving cars making transportation cheaper than car ownership, AI-Big Data and robotics boosting the …
The Centre for Economics and Business Research (CEBR) forecasts that China’s economy will pass the USA in exchange rate terms by 2030. The report by the Centre for Economics and Business Research in London sees India leapfrogging the U.K. and France next year to become the world’s fifth-biggest economy in dollar terms. It will advance …
China must take urgent action on birth controls to cope with the “grim” reality of its rapidly aging society. The Chinese Academy of Social Sciences said the country must consider either relaxing birth controls further or getting rid of them entirely. China replaced its decades-old one-child policy two years ago, allowing all couples to have …
China is willing to accept some weakness in GDP growth to focus on making strides in the next three years around three priorities. The priorities are * controlling financial risk * reducing poverty * curbing pollution China will clean-up of the financial sector. “We will promote a benign cycle from the financial sector to the …
The IMF, Peterson Institute for International Economics (PIIE) and Price Waterhouse Coopers are adjusting growth projections upwards as the global economy is gaining momentum. The global economy as a whole has gained momentum, according to economists at the Peterson Institute for International Economics (PIIE), in a shared expansion rarely seen. This strong recovery results in …
The Asian Development Bank (ADB) forecasts that economic expansion in developing Asia will accelerate to 6% in 2017 as stronger than expected exports and domestic consumption fuel growth. Excluding Asia’s newly industrialized economies, growth is now expected at 6.5% this year, according to a new ADB report. In a supplement to its Asian Development Outlook …
Canada, Europe and China are focused on the US tax cut bills bringing US corporate tax rates down to the average OECD tax rate. A likely response will be further corporate tax cuts in a global race to the bottom. European governments and businesses are warning that the US tax plan will favor US companies. …
China, already a global force in digital technologies and McKinsey Global forecasts big shifts in revenue and profits as China’s businesses digitize, boosting the economy’s international competitiveness. The next wave of digital transformation in China is likely to come from broader adoption of digital technologies by businesses in different sectors that will restructure value chains …
“China stopped being a low-cost manufacturing country many years ago,” Apple CEO Cook told the Fortune Global Forum in Guangzhou, capital of the southern Guangdong province, on Wednesday. He said the key for China and other developing countries facing rising labor costs was advanced manufacturing expertise, which meant fostering a highly skilled workforce and building …
Shenzhen had the largest economy in southern China’s Guangdong province last year after a new method of calculating gross domestic product saw it overtake local rival and provincial capital Guangzhou. Shenzhen’s GDP figure for 2016 to more than 2 trillion yuan (US$302 billion) from 1.95 trillion yuan in its initial report. The revision meant that …
Chen Zhao, Chief Global Strategist at Alpine Macro, makes the case that China has a low risk of a debt crisis. Chen says that China’s debt to GDP level is safe. I will relate what Chen Zhao says to how some people can safely afford mortgages that are ten times their income level. Chen makes …