Federal Reserve Sees Strong Economy, No Rate Hike Yet
The economy continues to grow and the job market has gotten close to the Fed’s goal of maximum employment, according to Fed Chairwoman Janet Yellen.
Category: Markets
South Korean Economy Makes Strong Recovery
South Korea’s GDP grew at its fastest rate in over five years during Q3, due to a rise in consumer spending, according to AFP. However, manufacturing only grew 0.1 percent, and South Korean exports remain lackluster from a sluggish world economy and waning demand from China. South Korea’s central bank predicts 2.7-percent growth for 2015.
World Bank Says Climate Change Wiped Out Dominica’s GDP
After the island sustained severe damage in a tropical storm, Dominica’s economy has suffered horrendously. To assess the full extent of the damage, the World Bank, United Nations, and other development partners with funding support of the European Union (EU) and the World Bank Global Facility for Disaster Reduction and Recovery put their resources together to study the problem. What they found proved shocking.
Military Leaders Try to Revive Thai Economy
Finance Minister Apisak Tantivorawong believes the economy will expand 3 percent for 2015, which aligns with an official data projection of 2.8 percent, according to The Business Times. However, the finance minister contends that a 3-percent growth rate is not enough for a developing economy such as Thailand, and he has yet to specify which sectors of the economy have begun recovering. Thailand suffers in key areas, such as exports and domestic demand.
US-style Retirement Fund Governance Gets Kicked to the Curb
The federal government has hit a major roadblock in its plan to bring in new rules governing superannuation funds, with four independent senators refusing to support the related bill.
The proposed legislation was widely seen as targeting industry super funds, aimed at the part of the retirement-savings industry that is best performing and (compared to the for-profit sector) largely scandal-free.
Looking In on China’s ‘Going Out Policy’
Chinese firms have invested in natural resources in low- and middle-income countries on a global scale. These include mining operations and large hydropower dams. Often these projects have environmental and social implications.
There are a range of reasons for these investments. Most have been made since the Chinese government issued its ‘Going Out Policy’ to encourage firms to invest overseas.
The main reasons include:
* rapid growth depleting scarce domestic natural resources;
Maybe not Flying Cars, but Australia’s Transport Could Use a Lift
When the public thinks of innovation, it’s usually in the realm of blue-sky thinking and new inventions. In the world of transport, innovation evokes images of 600 kilometre per hour trains in Japan, or two-person aerial transit pods in Israel, driverless – or maybe even flying – cars.
When he unveils his innovation statement, will Prime Minister Malcolm Turnbull be seduced by these notions – or will his innovation statement focus on more pressing needs for innovation in the transport system?
Manufacturing Activity Plummets, Shrinking in U.S.
Manufacturing activity has fallen sharply, and now total manufacturing activity continues to shrink in the United States.
Long Live Thai’s King Bhumibol
Back in February 2005, Thaksin Shinawatra’s Thai Rak Thai was re-elected with a bumper majority. However, as Thaksin consolidated ever more power, his opponents became anxious. The Democrat Party worried that it would never again control the levers of government, as the outspoken telco billionaire effectively monopolised the political process. His influence on military and bureaucratic promotions hinted that he would not stop until his trusted aides held all key positions.
O Canada is Growing Again
Canada reported its monthly GDP estimate for September, and at the same time, provided its first estimate of Q3 GDP. The Great Graphic, created on Bloomberg, shows both time series.
The yellow line depicts the monthly GDP and the quarterly estimate is the white line. Clearly, they track each other, as one would expected. The good news is that after contracting in the first two quarters of the year, the Canadian economy expanded by 2.3% in Q3.
