Why are some of Asia’s largest economies declining?

Published

2 years ago

July 28, 2022

The Asian Development Bank or ADB has downgraded its predictions for growth forecasts among the regions developing economies

The ADB has cited deteriorating conditions due to China’s “zero Covid” lockdowns, a rise in interest rates in developing countries and the war in Ukraine.

Two big economies in Asia, China and India are expected to grow %4.6 percent in 2022 and 5.2% in 2023 according to the latest data.

In April the ADB had a higher growth prediction at 5.2 and 5.3 percent respectively.

South Korea’s economic forecast was also been slashed

For China’s economy, the report cited “disruptions from China’s new covid lockdowns” and “weaker global demand”.

But moving against the negative trend, are the pacific island nations.

Their forecasts revised positively from 3.9 percent to 4.7 percent.

The ADB cited a stronger than anticipated rebound from tourism.

The gloomy predictions from the ADB have come as a warning for the global economy.

The International Monetary Fund has also stated that it will substantially downgrade its forecast for the global economy.

It does seem like their needs to be a global economic rebound but how will we get it?

Perhaps the answer lies in good economic management

ASX positioned for strong start after positive stock rebound

Published

2 days ago

September 10, 2024

ticker NEWS

The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

Leaders

Elon Musk is projected to become the world’s first trillionaire

Published

3 days ago

September 9, 2024

ticker NEWS

Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

Money

Treasury Secretary believes the U.S. are on track for a “safe landing”

Published

3 days ago

September 9, 2024

ticker NEWS

Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending