Global Economic Data & News 03 (May 22 - Dec 26)

[winston]

IMF warns of fragmentation risk

A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7 percent, but the losses could reach 8-12 percent in some countries if technology is also decoupled.

Source: Reuters

https://www.thestandard.com.hk/section- ... ation-risk

[behappyalways]

The opening of Davos brings hidden worries about economic recession. Businesses are more pessimistic than the financial tsunami

達沃斯開幕 經濟衰退隱憂.企業悲觀更甚金融海嘯｜方念華｜FOCUS全球新聞 20230117@tvbsfocus

https://m.youtube.com/watch?v=F7phuyPJFSw

[behappyalways]

The G20 foreign ministers will be in the ring of quarrels, and the United States wants to attract allies to sanction Beijing

G20外長會淪吵架擂台 美欲拉盟友制裁北京｜方念華｜FOCUS全球新聞 20230303@tvbsfocus

https://m.youtube.com/watch?v=YMs_v4pt0lU

[behappyalways]

Globalization vs. National Interests, When Corporate Revenues Override Taxes

全球化vs.國家利益 當企業營收凌駕稅收 TVBS文茜的世界周報 20230408

https://m.youtube.com/watch?v=0oIUoU9Akkk

[behappyalways]

Five Arab States Plus Iran Among 19 Nations Ready To Join BRICS
https://www.zerohedge.com/geopolitical/ ... join-brics

[winston]

IMF sees uncertainty over Japan's monetary policy, spillover globally

Risks surrounding Asia's economic outlook including from weakening exports to advanced economies, slowing productivity in China and a fragmentation of global trade.

"Over the medium term, we expect the Chinese economy to experience a slowdown in productivity and investment, which will lower growth below 4 percent by 2028".

"Changes in Japan's monetary policy that lead to further increases in government bond yields could have global spillovers through Japanese investors, who have large investment positions in debt instruments abroad" .

"The initial phase of the recovery in China has been led by consumption and services, but at any time in the second half of the year, we will see a change from consumption and services to more manufacturing demand".

Source: Reuters

https://www.thestar.com.my/business/bus ... r-globally

[behappyalways]

Hiroshima summit ended, Zelensky most steals the spotlight!

廣島峰會落幕　澤倫斯基最搶鏡！G7對中「去風險化」｜方念華｜FOCUS全球新聞 20230522 @tvbsfocus

https://m.youtube.com/watch?v=kB9pXo3sgLs

[behappyalways]

'Arctic Silk Road' Comes Alive As Russia Sends First LNG Tanker To Asia This Year
https://www.zerohedge.com/commodities/a ... -asia-year

[behappyalways]

Negative export growth from Asia demonstrates a slowing global economy

https://twitter.com/Mayhem4Markets/stat ... 4202099712

[winston]

Factory slowdown in China, Europe raises alarm bells

Factory activity in June both in China and the eurozone, disappointed the market and deepened concerns about weakening global demand.

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) eased to 50.5 in June from 50.9 in May, indicating a marginal expansion in activity. The 50-point mark separates growth from contraction.

The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No 2 economy lost momentum in the second quarter as demand weakened.

The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and, according to economists, focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China.

Additionally, China's growing youth unemployment rate could trigger political problems if not properly handled. China's unemployment rate among those aged between 16 and 24 reached a record of 20.8 percent in May.

In the eurozone, HCOB's final manufacturing PMI, compiled by S&P Global, fell to 43.4 from May's 44.8, its lowest since the Covid pandemic was cementing its grip on the world, below a preliminary reading of 43.6 and further from the 50 mark separating growth from contraction.

"There is growing evidence that the capital-intensive industrial sector is reacting negatively to the ECB's interest rate hikes," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

Data due later yesterday was expected to show a further contraction in the United States.

Source: AP

https://www.thestandard.com.hk/section- ... larm-bells