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Business Insider (February 16)

2024/ 02/ 18 by jd in Global News

“The US economy managed to shake off Wall Street’s gloomy forecasts and dodge a long-predicted slump last year — but the same can’t be said for two other members of the G7.” Both the UK and Japan entered technical recessions based on data released Thursday showing each nation’s GDP fell during both of the two last quarters in 2023.

 

Forbes (February 9)

2024/ 02/ 12 by jd in Global News

“Economists are struggling to put China’s epic $7 trillion stock crash in perspective. The best size and scope may be that, since 2021, the market has lost the combined gross domestic product of Japan and France.” But that’s not even the worst news out of China. Beijing is now “on the lookout for those disseminating negative views on China’s economic and market prospects. This chilling warning not to ‘denigrate China’s economy’ via ‘false narratives’ is Mao Zedong, not Adam Smith. And it raises troubling questions as China’s influence soars.”

 

South China Morning Post (January 29)

2024/ 01/ 30 by jd in Global News

At Davos, Chinese Premier Li Qiang provided WEF delegates with an “early and unexpected disclosure… China’s gross domestic product (GDP) had grown by 5.2 per cent in 2023.” This didn’t come across as powerfully convincing evidence that China’s economy is again healthy. Worries remain about China and its economy. “Challenges related to national security, data flows and market barriers still dominate hearts and minds in decision-making.”

 

Bloomberg (January 26)

2024/ 01/ 28 by jd in Global News

In the “race for world’s biggest economy,” the U.S. has extended its “lead over china.” U.S. GDP “rose 6.3% in nominal terms…last year, outpacing China’s 4.6% gain.” Some of that is due to inflation, but the result “underscores a broader point: The US economy is emerging from the pandemic period in a better place than China’s.”

 

CNN (January 15)

2024/ 01/ 16 by jd in Global News

“Germany’s economy shrank last year for the first time since the onset of the Covid-19 pandemic… increasing the risk of an economic contraction in the wider euro area.” GDP dropped 0.3%, both during 2023 overall and during Q4. “The data bodes ill for the entire area that uses the euro because Germany is the largest of its 20 economies.”

 

Barron’s (November 12)

2023/ 11/ 13 by jd in Global News

“Germany’s economy, historically the powerhouse of Europe, is going through a rough patch. Its reliance on Russian energy and trade with China will have to be scaled back and new sources of growth found.” The nation’s GDP “declined in the third quarter, bringing down the rest of the euro zone with it,” and the OECD now “expects Germany to be the second worst performer in its group of 30 advanced economies this year, ahead only of Argentina.”

 

Wall Street Journal (September 20)

2023/ 09/ 21 by jd in Global News

“China’s economic and technological strength dwarfs that of the Soviet Union during the Cold War. Since 1885 the U.S. has never faced a competitor or group of competitors with a gross domestic product greater than 40% of our own. China’s economy is likely at least 75% of ours. It also has a larger navy (even more so in its home waters) and a shipbuilding capability that far exceeds ours.”

 

Washington Post (March 9)

2023/ 03/ 10 by jd in Global News

European leaders may “attest to a continent fully awakened to the reality of the war. But the truth is that Europe has not taken its defense seriously before now, and it cannot be strategically ‘autonomous’ until it does.” Home to 450 million people with a $17 trillion GDP, defense spending in excess of $200 billion annually, the EU needs to get its act together. “A strong, autonomous Europe benefits the United States as much as it does Europe itself: Partners working in tandem present a more formidable front against any military threat.”

 

Wall Street Journal (November 25)

2022/ 11/ 26 by jd in Global News

“China’s zero-Covid reckoning” is approaching as “record infections and new lockdowns lead to rising public frustration and slower economic growth.” China’s economy is expected to slow further, “with growth estimates falling for the fourth quarter and the year below 3%. That’s assuming Chinese officials aren’t gilding the books. China’s official GDP target for this year had been 5.5%.”

 

Investment Week (October 12)

2022/ 10/ 14 by jd in Global News

Aside from shipping difficulties and “maritime headwinds” hitting China, “the property crisis, fuelled by debt defaults from property developers, has dented the likelihood of Chinese GDP hitting growth targets as local authority revenue takes a hit from land sale income decline. Sentiment has followed suit and many wonder when and where respite will arise.”

 

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