Chinese economy growth will slow to 7.1% in 2015

Noam Stiekema

The economic growth in emerging markets in the East Asia and the Pacific is likely to improve this year in most countries, but in general will be delayed because of the decline in China. The growth in the region was supported by the rapid fall in oil prices and expensive USD, which benefit some countries […]

Chinese money

Chinese moneyThe economic growth in emerging markets in the East Asia and the Pacific is likely to improve this year in most countries, but in general will be delayed because of the decline in China. The growth in the region was supported by the rapid fall in oil prices and expensive USD, which benefit some countries at the expense of others.

The Chinese economy growth rate will slow to 7.1% in 2015 from 7.4% an year earlier, according to a report of World Bank. The growth in emerging markets in Eastern Asia and the Pacific, including China, Indonesia and the Philippines, will slow to 6.7% this year from 6.9% in 2014, she said. Growth in the region as a whole – including developed markets such as South Korea and Singapore – will remain at the level of 6%.

World Bank expects Chinese economy to slow further in the coming years, with growth falling to 6.9% in 2017 because of the policy to deal with the financial vulnerability and achieving sustainable growth.

“The region of East Asia and the Pacific will benefit as a whole from lower fuel prices, but their impact will vary in different countries”, says World Bank report released today. The Bank expects economies that rely on imports of oil or fuel subsidies, such as Indonesia, Thailand and the Philippines, to gain significantly from the falling oil prices, which according to the World Bank can remain up to 45% lower than last year, may increase “only modestly” in 2017. However, the World Bank warns that growth in the East Asia and the Pacific could be threatened by factors inside and outside its borders, such as slowing trade with the Eurozone or Japan.

“Higher interest rates in the US and the appreciation of the USD against the backdrop of divergent monetary policies in developed economies may increase borrowing costs to generate financial volatility, and reduce capital flows more sharply than expected”, said World Bank. According to her falling oil prices provide a “unique opportunity” for many countries in the region to reduce fuel subsidies and raise energy taxes, while the countries of Southeast Asia should focus on achieving the liberalization and integration of their services markets.

Read this next

Institutional FX

B2C2 opens new office, seeks MPI license in Singapore

Cryptocurrency market maker and liquidity provider, B2C2 has expanded its operations in the Asia-Pacific (APAC) region with a new office in Singapore. The move builds on B2C2’s existing presence in Japan and other major financial centers.

Retail FX

Prop firm The Funded Trader to clear withdrawals ahead of relaunch

Prop trading firm The Funded Trader has announced a series of measures to address recent operational challenges and resume its services. The company detailed these plans in a series of tweets on X, outlining changes and updates “aimed at stabilizing and improving operations.”

Chainwire

Multipool Sells Out Fjord Foundry LBP

With the close of the LBP, Multipool launched their native token, $MUL, on Uniswap V3 today with a market cap of $13M.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: FED, ECB, Global Inflation, May 27 ,2024

Central banks walk a tightrope: Fed stays hawkish on inflation, ECB eyes rate cuts but waits on data. This could cause currency swings and impact global economic growth.

Metaverse Gaming NFT

Despite $1 billion lawsuit, Cristiano Ronaldo launches new Binance NFTs

Cristiano Ronaldo has unveiled his fourth non-fungible token (NFT) collection in collaboration with Binance. The new collection is set to debut on the Binance NFT Marketplace this week, featuring highlights from Ronaldo’s football career.

Market News, Tech and Fundamental, Technical Analysis

GBPJPY Technical Analysis Report 27 May, 2024

GBPJPY currency pair can be expected to rise further toward the next resistance level 202.00, which is the target price for the completion of the active impulse wave 3

Digital Assets

Celebrity X accounts hacked to promote meme tokens

Several celebrity and influencer X accounts on social media platforms have been hacked, with the attackers promoting various cryptocurrencies and meme tokens.

Digital Assets

Silk Road founder to walk free if Trump re-elected

Donald J. Trump has vowed to commute the life sentence of Silk Road founder Ross Ulbricht to time served if he is re-elected as president.

Industry News

UF AWARDS Global 2024: Nominations Closing Soon!

There is still time to nominate your brand at this year’s prestigious UF AWARDS Global 2024.

<