Category: World Economy

Four charts show how much China’s economy has changed in 30 years  CNBC

– Chinese officials sometimes divert conversation toward the country’s tremendous economic growth when they’re asked about the violent Tiananmen crackdown, which took place 30 years ago this week. – People who want to understand the rising assertiveness coming out of Beijing recently may be well served to examine the country’s economic growth. – Urban migration, growth in Chinese cities’ GDPs, trade levels, and the number of Chinese tourists visiting foreign countries all illustrate how dramatically the country’s economic power has grown in 30 years. The Chinese government doesn’t often tal…

This under-the-radar freight indicator is raising concerns that the US economy is slowing  CNBC

– The Cass Freight Index, a broad measure of freight shipments, fell 3.2% year over year in April — even before the announcement of new tariffs on Mexico. – The April report outlined a “material and growing downside risk to the economic outlook.” – In notes to clients, Morgan Stanley and Credit Suisse warn of red flags in the transportation market that could signal trouble in the broader economy. A slowdown in trucking and transportation is causing some on Wall Street to worry about an impending deceleration in the U.S. economy. The Cass Freight Index, a broad measure of freight shipment ac…

How Is China’s Economy Doing?  Seeking Alpha

CEO Jan van Eck and Economist Natalia Gurushina discuss the state of China’s economy and highlight two key charts for understanding where it is in its growth cycle. China has been a major contributor to global growth, and its economic activity tends to have significant repercussions for the global economy. To understand where the Chinese economy is in its growth cycle, the two charts below are perhaps the only charts one needs. Chinese Economy Health Check: PMIs Source: Bloomberg. Data as of May 31, 2019. Past performance is no guarantee of future results. Chart is for illustrative purposes…

Mighty U.S. jobs market buoys economy amid China trade war, Mexico tariff threat  MarketWatch

ECONOMIC PREVIEW By Jeffry Bartash U.S. likely added 175,000 jobs in May to keep jobless rate at 3.6% Truckers crossing the border between the U.S. and Mexico could have their hands full with customs officials if the Trump White House slaps tariffs on all Mexican imports. Matthew Busch/Getty Images Three cheers for the strongest U.S. jobs market in decades: It’s the best hope for the U.S. to ride out one trade war with China and another conflict potentially looming with Mexico. If these were normal times, Wall Street would be gearing up this week for the latest snapshot on hiring. The U.S. …

Venezuela has finally admitted to the awful state of its economy  Quartz

This week Venezuela’s central bank unexpectedly published data (link in Spanish) on economic growth and inflation. It’s the first time in years that official figures on the economy have been released. Regular updates stopped in 2015 as president Nicolás Maduro’s government plunged the country into severe economic crisis. Last summer the IMF said it expected inflation in Venezuela to soar by 1 million percent by the end of 2018. The central bank’s figures don’t quite show seven-digit-inflation, but they do admit to a period of destructive hyperinflation. According to its account, by the end …

Iranians are more worried about their battered economy than a war with the U.S.  The Washington Post

Iranians wait for a bus in Tehran. Many residents in Tehran say U.S. sanctions have contributed to inflation and shortages of food.Getty Images Iranians have been growing increasingly anxious amid threats of military action by the Trump administration but say they are already struggling with daily life in a war economy regardless of whether there’s a war. Many Iranians consider themselves to be on a war footing, thanks to an economy battered by a year of U.S. sanctions that have contributed to inflation and shortages of medicine and other vital goods — without any sense that relief is comin…

1. Trump Bets the U.S. Economy on Tariffs  The New York Times
2. Trump’s tariffs on Mexico are the kind of erratic act the Constitution is meant to prevent  The Washington Post
3. Art of the no-deal: Trump’s Mexico threat makes U.S. ‘world’s biggest rogue trader’  NBC News
4. President threatens tariffs for Mexico; what it could mean for the economy  Chicago Daily Herald
5. Markets shaken as Trump announces shock Mexico tariffs – as it happened  The Guardian
6. View full coverage on Google News

Trump’s tariff threat to Mexico may upend trade deal, undermine the economy  The Washington Post

Business leaders reacted with dismay to the president’s decision to impose a new 5 percent tariff on goods from Mexico to force the Mexican government to do …

Yes, India’s Economy Is Growing, but Can You Trust the Data?  The New York Times

NEW DELHI — Prime Minister Narendra Modi of India won re-election last week with what seemed to be rousing support for his market-oriented economic policies — yet few in India can agree on just how much growth or unemployment occurred in his first term. The Indian government’s official data shows the economy expanding 7 to 8 percent a year, rivaling or exceeding China since he took office in 2014. But changes in India’s statistical processes, particularly tracking whether jobs were created or lost under Mr. Modi, have prompted allegations of political interference and questions about data q…

Brazil economy contracts for the first time since 2016  BBC News

Brazil’s economy shrank in the first three months of the year for the first time since 2016, when the country was in recession. It contracted by 0.2% compared with …