Last week, Moody’s cut Greece’s credit rating deeper into junk territory due to uncertainty over whether the country will be able to reach a deal with its international lenders in time to meet upcoming debt repayments. Today’s graphic lists the long-term sovereign debt ratings for some of the world’s major economies.
The International Monetary Fund kept its global growth forecasts unchanged, with faster economic expansion in the euro zone and India expected to be offset by diminished prospects in other key emerging markets such as Russia and Brazil. Today’s graphic shows the growth forecasts for the world economy and a selection of advanced and emerging/developing markets.
Join us this Wednesday, April 8th for a Reuters Newsmaker with New York Federal Reserve President William Dudley. Reuters Editor in Chief Steve Adler will engage President Dudley on a host of issues surrounding the U.S. economy and a possible U.S. rate hike this year. The U.S. central bank is in the global spotlight as it weighs when to lift rates after more than six years near zero, and how quickly to tighten policy thereafter. The Newsmaker will explore important questions, from the timing of a rate move to the risks involved – including the global impact if the Fed becomes the first among major central banks to tighten while weak economic conditions persist almost everywhere else.
William Dudley became the 10th president of the Federal Reserve Bank of New York on January 27, 2009. In that capacity, he serves as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC), the group responsible for formulating the nation’s monetary policy. Prior to joining the Bank in 2007, President Dudley was a partner and managing director at Goldman, Sachs & Company and was the firm’s chief U.S. economist for a decade. Prior to joining Goldman Sachs in 1986, he was a vice president at the former Morgan Guaranty Trust Company.
You’ve seen the headlines. China’s economy is experiencing a “new normal”. The double digit growth which has helped to lift tens of millions out of poverty is declining to mid-single digits. This same growth has left huge environmental costs. As Premier Li Keqiang said a few days ago at the opening of the country’s annual parliamentary meeting, pollution has become “a blight on people’s quality of life and a trouble that weighs on their hearts.”
So now, a pure growth solution is no longer viable as a pathway for economic development. In order to understand this “new normal” pathway which matters so much to all of us and on which China may provide global leadership, we sat down with two champions for sustainable development in China, Professor Dajian Zhu, who advises central government planners, and Mr. George Lee, Chairman of Shanghia-based De Tao Group, which is catalyzing new avenues for sustainable development with the help of a growing network of global thought-leaders.
Professor Zhu helped provide some context, explaining that “China still has a significant challenge with per-capita income and economic prosperity compared with the rest of the world. Consider how our trajectory looks from a population growth perspective:” (more…)
The Chinese economy grew at its slowest pace in 24 years in 2014. Provinces have in response lowered their GDP targets for 2015, with Shanghai eliminating its target altogether. Today’s graphic tracks the growth targets across Chinese provinces.
Last week, the Central European Bank launched a landmark bond buying program that runs from March this year until September next year. Today’s graphic looks at market reactions when the U.S. implemented its quantitative easing policies.
Today’s graphic tracks the number of times each topic (economy/jobs, education, taxes, energy, national security) has been mentioned in President Obama’s State of the Union addresses. Make sure to the read the full recap on the Reuters live blog and check out the best pictures from the speech.
On Tuesday, the World Bank predicted the global economy would grow 3% this year, below a forecast of 3.4% made in June. The World Bank also lowered its global growth forecast for 2015, and suggested world GDP growth will reach 3.3% in 2016, before dipping to 3.2% in 2017. Today’s graphic breaks down their GDP growth forecasts.
Japan’s economy unexpectedly slipped into recession in Q3 after the rise in the national sales tax in April, setting the stage for Prime Minister Shinzo Abe to delay an unpopular sales hike planned for next year. Today’s graphic looks at wages, spending and GDP in the months before & after the tax hike.