Key Economic News to Watch This Week: July 9
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China, the world’s second largest economy, will report its second-quarter results this Friday and the analysts are expecting the results to be “one of the worst in at least three years.” A sharp slowdown in Beijing will no doubt spell bad news for the global economy, given that China has been the key driver of growth in recent years.
Monday, July 9
Catherine Ashton, the EU high representative for foreign affairs and the European Commission’s vice president, visits China for the third round of China-EU high-level strategic dialogues.
China, the world’s second largest economy, will report its second-quarter results this Friday and the analysts are expecting the results to be “one of the worst in at least three years.” A sharp slowdown in Beijing will no doubt spell bad news for the global economy, given that China has been the key driver of growth in recent years.
Monday, July 9
Catherine Ashton, the EU high representative for foreign affairs and the European Commission’s vice president, visits China for the third round of China-EU high-level strategic dialogues.
The UK woos Myanmar as it sends a trade mission, the first since the partial suspension of EU sanctions. According to Lord Green, Minister of State for Trade and Investment, “there is significant interest in Burma from UK businesses” and “we strongly believe that the right kind of responsible trade and investment can aid Burma’s transition to democracy.”
Related Story: International Sanctions May Ruin Myanmar’s Opportunity for Change: Joseph Stiglitz
ASEAN foreign ministers meet in Phnom Penh, with tensions in the disputed South China Sea expected to top the agenda. US Secretary of State Hillary Clinton will also join the meeting later this week.
Related Story: Oil Claims in South China Sea: Will International Law or Force Prevail?
The African Union Summit takes place in Addis Ababa, with the theme “Boosting Intra-African Trade”.
German chancellor Angela Merkel visits Indonesia.
Tuesday, July 10
Finance ministers from EU member states meet in Brussels for their monthly Economic and Financial Affairs Council.
The two-day Asia Islamic Banking Conference opens in Kuala Lumpur. Malaysia has an Islamic banking market worth almost $43 billion and is seen as a “poster child” for bond market development in South East Asia.
Related Story: What the West Can Learn From Islamic Banking
Related Story: Can Islamic Finance Repair The Modern Financial System?: Andrew Sheng & Ajit Singh
The annual OECD Employment Outlook report is published, offering a view of labour prospects and statistics in member countries.
Transparency International to release ‘Transparency in Corporate Reporting’
Related News: Corruption Helped Cause the Eurozone Crisis: Transparency International
Thursday, July 12
The problem of youth unemployment, and why it varies so much across Europe, is explored, together with policy solutions, at a forum staged by the Institute for Public Policy Research in London.
Russia-Ukrainian natural gas talks resume.
Friday, July 13
China reports its Q2 GDP results and analysts widely expect numbers to be “the worst in at least three years.” A government spokesperson was quoted saying that economic growth could slow to below 7.5 percent in the second quarter, putting the global economy at risk of a sharp slowdown as China is the main driver of world growth.
Saturday, July 14
France celebrates Bastille Day, the national day that marks the storming of the Paris prison in 1789 at the beginning of the French Revolution.
