It’s not immediately obvious that the global slowdown has also arrived in India: Investments in factories, roads, and other fixed assets are just shy of 35% of domestic output; they haven’t been this high in 10 years. Loan demand is growing so fast that deposits can’t keep up. What’s driving India’s animal spirits amid a …
Reports of the death of globalization are looking greatly exaggerated. Yes, a US-China trade war, a global pandemic, Brexit and Russia’s war in Ukraine have rattled the once-entrenched ways that the world’s largest economies trade with each other. Such events are beginning to transform supply chains in important ways. But trade experts also warn that …
Inflation around the world is finally coming off the boil, but that’s providing only some comfort to global central bankers who view price pressures as remaining far too intense. In the US, so-called core inflation, which excludes food and energy prices, rose a below-forecast 0.2% in October from a month earlier. Euro-zone annual inflation slowed …
Factories in Europe and Asia struggled in November due to weakening global demand, with the pressure unlikely to let up in the months ahead. Business surveys by S&P Global on Thursday pointed to shrinking activity and a dire outlook in wide parts of both regions. Asian manufacturers are bracing for a further pullback in spending …
Dirty bulk ships used to carry iron ore are being scrubbed clean so that they can transport grain to Asia, in an unusual shift of cargoes prompted by a slump in demand for the steelmaking ingredient. China’s downturn in the housing market has weighed on iron ore, driving freight rates for bulk carriers down 50% …
Caterpillar Inc. should be worried: China’s machines are coming for the pole position of a company considered an economic bellwether. As a deflated real-estate sector and Covid-Zero strategy destroy demand, the country’s biggest construction-machinery makers — unfazed by the uncertainty — are looking for greener pastures. They are exporting heaps of excavators and diggers, encroaching …
Easing energy prices helped lower the annual rate of inflation in the eurozone in November, the first slowdown in a year and a half. But policymakers cautioned that the worst may not yet be over. Consumer prices in the 19 countries that use the euro as their currency rose at an annual rate of 10% …
TOKYO: Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China’s strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. The results highlighted Asia’s darkening economic outlook for 2023, as the lockdowns disrupt international supply and heighten fears of a further slump in …
NEW YORK: US Treasury Secretary Janet Yellen said on Wednesday that businesses reviewing their supply chains should be mindful of the geopolitical risks surrounding China’s threats to Taiwan as well as other Chinese practices that have raised US national security concerns. Yellen told the New York Times DealBook Summit in New York that the Biden …
Taiwan’s semiconductor industry may be impacted by recent US moves to reduce reliance on the island’s leading-edge technology, according to a Taiwanese economic official. A recently passed US semiconductor law, along with a similar proposal in Europe, “could directly and indirectly affect exports of crucial industries in Taiwan,” said Tsai Yu-tai, head of statistics for …