China poses risks to global economic recovery as Li squeezes credit
China is posing risks to global economic growth as Premier Li Keqiang's three-month-old government is squeezing credit.
The People's Bank of China, which controls the world's second-largest economy's banking system, recently refused to inject more cash into the financial system, even as short-term borrowing costs are on the rise.
GDP growth rate fell to 7.8 per cent last year; and most economists fear that the government will not be able to meet its target 7.5 per cent growth this year.
Shane Oliver, head of AMP Capital Investors Ltd's investment strategy, said, "I wasn't too worried up until this week. Things are quite a lot different in China than might have been expected. It does potentially pose risks for global growth."
Oliver is one of the many economists who have lowered their outlook for the Chinese economy.
China has so far been playing a vital role in the global economic recovery. Last year, the Chinese economy accounted for nearly a third of global growth. Countries from Brazil to Australia are increasingly relying on Chinese economy as developed economies are still struggling to recover from the worst global recession since World War II.
Thus, any fall in Chinese economy would also hurt the global economic growth.
The process of charging an electric car takes much longer than the conventional process of refueling vehicles with gasoline.
Following Hurricane Irma, normal operations at PortMiami, Fort Lauderdale's Port Everglades and Port Canaveral quickly resumed, but major cruise lines are facing months of disruptions to routes including stoppages at Eastern Caribbean islands that
Following an unanticipated upturn in economic activity in September, the eurozone economy is widely expected to be on track for the best quarter since 2015.
Elon Musk-led electric carmaker Tesla Motors has confirmed that it will discontinue its cheapest version of its Model S e-car, the rear-wheel-drive S60, on coming Sunday.
Motorola’s parent firm Lenovo recently announced the launch of the Moto G5S and G5S Plus smartphones in several markets. The company will shortly share its plan for worldwide launch.
Luxury vehicle maker Volvo has just introduced the 2018 XC40, the company’s latest SUV that looks forward to compete with the Porsche Macan or Range Rover Evoque.