Why the Global Economy Is Still Stuck
The global economic news is not good lately. The Italian election was a statement against the austerity policy of the previous government, but failed to offer an alternative. The resulting uncertainty keeps Italy's government bond market on thin ice, threatening to engulf the whole euro zone in a new financial storm.
The U.S. government has been embroiled in a fight over something called "sequester" for weeks without a solution. The resulting US$ 85 billion cuts in government spending rekindle the risk of double-dip recession. The cuts are 0.5 percent of GDP and less than one-tenth of the United States' fiscal deficit. The big worries over them reflect the fragile state of the American economy after massive stimulus over five years and a dysfunctional U.S. political system.
- China Releases Guiding Policy on Reform Tied to Government Spending
- China's Stimulus Bond Program Faces Effectiveness Test
- Why Official Claim on Services Driving China's Economy is Misleading
- Kobe Bryant Invests in China Education Firm
- China Contractor Gets Second Chance at Bahamas Luxury Hotel
- Alibaba Pictures Expands Into Cinemas
- Despite Gains in HDI, China Needs More Reform for Inclusive Growth, UN Says
- CSRC Beefs up Internal Disciplinary Inspection with New Committee
- Insurance Regulator Eyes Crackdown on Short-Term Policies
- China Telecom H1 Profit up 6.3 Pct on Strong 4G Subscriber Growth
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- China Edges Closer to a Liquidity Trap
- First China Made Bullet Train Makes Maiden Trip
- China to Bring Back Equity Incentives for SOE Employees
- Farewell Medal Mania, Hello Sports Reform
- Dalian Wanda's Property Arm To Delist from Hong Kong in September
- China Behind on Plans to Trim Overcapacity
- Alibaba Rakes in Millions Selling Co-branding Rights to Double 11 Gala
- Can Baseball Finally Hit a Home Run in China?
- Car-Hailing Firms Try New Business Frontiers
- Souring Business, Xenophobia Makes China Dream Lose Its Appeal for African Migrants