Key Economic News to Watch This Week: Dec 17
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The US economy is edging closer to the cliff as a budget deal between US Democrats and Republicans remains elusive. With less than two weeks before $600 billion of tax increases and spending cuts take effect, potentially pushing the world’s largest economy into recession, US politicians and lawmakers have been put on notice to stay close to the office this holiday season.
Monday, December 17
China’s top leadership wraps up a three-day Central Economic Work Conference with pledges to ensure a “stable and relatively fast” economic growth next year.
The US economy is edging closer to the cliff as a budget deal between US Democrats and Republicans remains elusive. With less than two weeks before $600 billion of tax increases and spending cuts take effect, potentially pushing the world’s largest economy into recession, US politicians and lawmakers have been put on notice to stay close to the office this holiday season.
Monday, December 17
China’s top leadership wraps up a three-day Central Economic Work Conference with pledges to ensure a “stable and relatively fast” economic growth next year.
Related Story: Has the Chinese Economy Bottomed Out?: Michael Pettis
Wednesday, December 19
South Korea holds its presidential election. Race frontrunner Park Geun-hye is close to becoming the Republic’s first female president, challenging stereotypes in a nation that is largely run by men in blue suits. If she wins, she is expected to follow the policies of her father, the country’s longest-running dictator, who is credited with the country’s sustained economic boom.
Related News: FTA between South Korea and the U.S. Comes Into Effect amid Much Praise, and Fear
Thursday, December 20
10th ASEAN-India Commemorative Summit and ASEAN-India Business Summit take place in New Delhi (until Dec 21).
Bank of Japan makes an interest rate announcement. With an economy on the brink of another recession, the central bank once again finds itself under pressure to keep the yen weak and to jump-start business activity in the world’s third largest economy.
Related Story: The Missing Link in Japan’s Lost Decades
Friday, December 21
Insurers operating within EU Member States will not be allowed to take gender as a risk factor, following last year’s European Court of Justice’s ruling that different insurance premiums for men and women constitute sex discrimination and are not compatible with the EU Charter of Fundamental Rights.
Related News: EU Women Quota Set To Be Blocked: Report
