China’s golden era – of interconnectivity

China's President Xi Jinping and Britain's Prince Philip review an honour guard during his official welcoming ceremony in London, Britain

China dominated the headlines in the UK this week. As its president, Xi Jinping, arrived in London with all the pomp of a state visit, the media turned its focus on how and why China was now being considered a strategic trade partner for the UK, with some £40 billion worth of deals signed during the visit.

Before Premier Xi’s visit, the UK Government keenly briefed journalists on the dawn of “a golden era” of cooperation between the two countries. And at a dinner at London’s Guildhall, where the Premier spoke warmly of Britain and its culture, I heard for myself a speech which contained more emotion and affection than the usual statesmanship expected of a visiting dignitary.

China is indeed entering a golden era, though not exclusively with the UK, and not perhaps in quite the way the Government intends. It is a golden era of interconnectivity, as the country creates myriad links to the world’s financial systems. For instance it was interesting how many delegates attended from Canada.

This interconnectivity includes information networks, of course, and just a few weeks ago I saw for myself in Shanghai how busily the financial sector was forging these vital connections. Such links will help them to attract foreign investment for their businesses and to import goods for their growing middle class, as well as maintaining their thriving exports. (more…)

Global growth forecast – Graphic of the day

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.

global growth forecast

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Davos Today – Thursday

Davos Today

Davos Today, the official morning show of Thomson Reuters and the World Economic Forum, ran its second show today. In each show, anchor Axel Threlfall interviews world leaders, policymakers, blue-chip CEOs and leading investors. The program provides breaking news and analysis, as well as a flavor of the gossip and ‘behind the scenes’ action taking place in the mountain town.

Thursday’s show featured live interviews and analysis from the IMF, the Dutch Prime Minister, Blackstone Group, Nouriel Roubini and the chief economist of Brazil’s biggest bank, Itau. (more…)

Global growth forecast – graphic of the day

The International Monetary Fund raised its forecast for global growth for the first time in nearly two years. Today’s graphic shows the growth forecasts for the world economy and a selection of advanced and emerging/developing economies.

global growth

Would you like infographics like this on your website, blog or other social media? Contact us and visit our Reuters Agency blog for insights and discussions on the changing media industry.

Cyprus bailout deal – graphic of the day

Cyprus clinched a last-ditch deal with international lenders to shut down Popular Bank (Laiki), the country’s second-largest bank, and inflict heavy losses on uninsured depositers in return for a €10 billion ($13 billion) bailout. The EU and IMF required Cyprus to raise €5.8 billion from its own banking sector towards its own financial rescue in return for a €10 billion international loan. Today’s graphic breaks down the controversial Cyprus bailout deal.


Economics Professor Simon Johnson

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Reuters TV Roundup

Today was an extremely busy day over at Reuters TV. Here’s a roundup of all the videos that were posted.

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Rough Cuts

After Hosni Mubarak received a life sentence for his role in civilian deaths during the country’s revolution, protesters marched on Tahrir Square in central Cairo.

Warren Buffett, speaking to the Economic Club of Washington, said he believed the chances of a U.S. recession were very low.

Fast Forward

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Freeland File

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Greece Elections – Graphic of the Day

Greece will be holding a snap election on May 6th to decide who will steer the country through tough austerity. The last polls published on April 20th showed the ruling coalition, the only 2 major parties that back the EU/IMF bailout plan, could just gather enough votes to form a coalition government. Today’s graphic looks at the current layout of the Greek government and the latest opinion polls broken out by party.

IMF Forecast – Graphic of the Day

Global growth is slowly improving as the US recovery gains traction and dangers from Europe recede, but risks remain high and the situation is very fragile. Today’s graphic lists GDP growth forecasts by the International Monetary Fund for a variety of major countries. Do any of these projections surprise you?

Greece’s Second Bailout – Graphic of the Day

The euro zone’s temporary bailout fund, the European Financial Stability Facility (EFSF) will contribute 109.1 billion euros to the second Greek bailout after covering the costs of the Greed debt swap, the EFSF’s chief executive Klaus Regling said. The graphic below shows how the contributing funds will be broken up and shows the preliminary funding plans for Portugal and Ireland.

Click to enlarge