This is not the best of times for global finance. The world economy has been under severe stress following the bankruptcy of Lehman Brothers in September 2008. The fall of the mighty investment bank was a big blow to the global financial system leading to arguably the worst economic crisis since the great depression of […]
Economy is no longer a business of economists alone. Both the prime minister and the opposition leader have offered contrasting views about the state of the economy. Amidst much confusion it is imperative to know which way the economy is headed. There is no denying that the economy faces some short-term challenges — persistent double-digit […]
China’s spectacular economic growth has been the hallmark of global economy for the past few decades. While economists debate whether China can maintain its current high growth rates in years to come, the dragon magic is not ending soon. The rise of China’s currency, the Renminbi (RMB), seems to be the single most important phenomenon […]
While the focus in Asia in recent months has shifted to inflation, there is a debate in Bangladesh over the conflicting figures of GDP growth. According to the Bangladesh Bureau of Statistics (BBS), the economy is projected to grow 6.7% in the fiscal year (FY) 2010-11. This provisional figure conflicts with other agencies that forecast […]
Is America facing a day of reckoning with debt? Or is this time different? These are perhaps the most critical questions the United States (US) as well as rest of the world face today. The US fiscal deficit is projected to be 10.8 percent of the country’s GDP in 2011 and the accumulated general government […]
Following the launch of the recent United Nations Population Fund (UNFPA) report on the state of the world’s population, there has been much worry that the size of Bangladesh’s population has now reached 164.4 million and is growing. Challenging the UNFPA figure, the government claims that the country’s population is now only 146 million. Owing to the unavailability of real-time data, one can assume that the country’s total population is somewhere between the two figures disclosed by the UNFPA and the Bangladesh government.
The specter of inflation is back in South Asia. While core inflation- that excludes certain items, notably food articles and energy- has spiked moderately, headline inflation in most countries is now double digit. This is also happening at a time when many parts of the global economy are fighting deflation!
The 10th National People’s Congress and the Chinese People’s Political Consultative Conference held in March this year have been an excellent platform to understand which way China is heading as far as its economic and political reforms are concerned.
China’s future pattern of economic development received top priority in the assembly. In this connection, one of China’s key strategic imperatives is to shift its economic structure towards high value-added manufacturing and services.
There is a growing consensus amongst economists and geo-political analysts that the global economic power is in the process of shifting from the Atlantic to the Pacific. This is largely due to the rise of two Asian heavyweight economies – China and India. A number of economists project that China will overtake the United States (US), and India will become the third largest economy in the next few decades. Jim O’Neill of Goldman Sachs forecast that China is likely to overtake the US by 2027, while PriceWaterhouseCoopers, projected that this could happen as early as 2020.