Nov. 17 (Bloomberg) -- India will be a $2 trillion economy in the next five years as its GDP is driven by an increase in consumption demand, the Economic Times reported, citing research from Enam Securities.
India will average 12 percent economic growth a year in nominal terms to 2014-15, boosted by consumption in the power, auto, information technology and pharmaceutical sectors, the report said, citing the research.
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India Poised to Emerge Strong from the Global Crisis with GDP Growth of 7.5% (newswire.ca)
Showing posts with label Global Economy. Show all posts
Showing posts with label Global Economy. Show all posts
Monday, November 16, 2009
Monday, October 19, 2009
Asia to Dominate World Economy
Oct. 19 (Bloomberg) -- Bank of Israel Governor Stanley Fischer said the global economy’s “center of gravity” is moving to Asia and that the region will dominate in the future.
The U.S. will have less influence with global institutions as nations such as China and India carry more weight, Fischer said. The International Monetary Fund’s first deputy managing director from China is “on his way” in the next few years, he said, adding that it is already known who will occupy the post.
“Now that the center of gravity is moving, these countries want to take a larger role in running the global economy,” Fischer said today at a Tel Aviv University symposium on China, Israel and the world economy. “The crisis has accelerated this process.”
The IMF this month forecast that Asia’s emerging-market economies will expand 6.2 percent in 2009 while the U.S., Europe and Japan all contract. Fischer, 66, who previously served as deputy managing director of the IMF and vice chairman of Citigroup Inc., said China’s economy is 16 times larger today than it was 29 years ago.
The Chinese economy, the third largest in the world after the U.S. and Japan when measured in purchasing power, is likely to overtake the U.S., he said.
“China will catch up reasonably quickly,” Fischer said. Still, the country’s fast growth pace can’t continue “forever” and expansion is likely to slow in the future, he said.
China’s plan to move rapidly toward clean energy could provide an opportunity for Israel in joint development of these types of technologies, Fischer said.
Israel has managed to overcome the worst of the global crisis “relatively well” and growth has been restored, he said. Still, unemployment is “too high” at 8 percent, he said.
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China data shows world's workshop back in business (AP)
APEC looking to Asia to help keep recovery going (AP)
Asia Stocks to Gain on ‘Positive’ MACD, RSI: Technical Analysis (bloomberg.com)
IMF Increases Hong Kong’s 2010 Economic Growth Forecast to 5% (bloomberg.com)
Asia Must Continue Stimulus as Economies Rebound, IMF Says (bloomberg.com)
IMF tells Asia to keep spending (news.bbc.co.uk)
World economy set for big rebound, IMF says (thestar.com)
IMF says world recession is over expects global growth above 3pc next year (telegraph.co.uk)
Global economy expanding, says IMF (guardian.co.uk)
The U.S. will have less influence with global institutions as nations such as China and India carry more weight, Fischer said. The International Monetary Fund’s first deputy managing director from China is “on his way” in the next few years, he said, adding that it is already known who will occupy the post.
“Now that the center of gravity is moving, these countries want to take a larger role in running the global economy,” Fischer said today at a Tel Aviv University symposium on China, Israel and the world economy. “The crisis has accelerated this process.”
The IMF this month forecast that Asia’s emerging-market economies will expand 6.2 percent in 2009 while the U.S., Europe and Japan all contract. Fischer, 66, who previously served as deputy managing director of the IMF and vice chairman of Citigroup Inc., said China’s economy is 16 times larger today than it was 29 years ago.
The Chinese economy, the third largest in the world after the U.S. and Japan when measured in purchasing power, is likely to overtake the U.S., he said.
“China will catch up reasonably quickly,” Fischer said. Still, the country’s fast growth pace can’t continue “forever” and expansion is likely to slow in the future, he said.
China’s plan to move rapidly toward clean energy could provide an opportunity for Israel in joint development of these types of technologies, Fischer said.
Israel has managed to overcome the worst of the global crisis “relatively well” and growth has been restored, he said. Still, unemployment is “too high” at 8 percent, he said.
Related articles
China data shows world's workshop back in business (AP)
APEC looking to Asia to help keep recovery going (AP)
Asia Stocks to Gain on ‘Positive’ MACD, RSI: Technical Analysis (bloomberg.com)
IMF Increases Hong Kong’s 2010 Economic Growth Forecast to 5% (bloomberg.com)
Asia Must Continue Stimulus as Economies Rebound, IMF Says (bloomberg.com)
IMF tells Asia to keep spending (news.bbc.co.uk)
World economy set for big rebound, IMF says (thestar.com)
IMF says world recession is over expects global growth above 3pc next year (telegraph.co.uk)
Global economy expanding, says IMF (guardian.co.uk)
Wednesday, December 10, 2008
Difficult Year Ahead for Developing Asia
HONG KONG, CHINA - Economic growth in developing Asia will slow to 5.8% in 2009, down from a likely 6.9% this year and 9% in 2007, as the impact of the global financial crisis spreads to emerging markets, says a new report from the Asian Development Bank.
Click here for full report
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GDP Forecast (From World Bank)
Click here for full report
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ADB tweaks 2008 Asia growth forecast
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GDP Forecast (From World Bank)
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