China is not the only massive emerging market whose growth rate is heading south. India’s economy will expand 5 to 6 % in 2012-13, says the International Monetary Fund (pdf, page 71) in its latest World Economic Outlook. That is a full percentage point below the GDP growth forecast for India just back in April.
Good morning Quartz readers!
Having a big business in China used to be good for a company’s stock price. Not anymore. Alcoa kicked off the US earnings season with a glum report that its profits may falter because of China’s slowdown. Here is a selection of other big names that look vulnerable.
ZTE shares fell 6% Tuesday in Hong Kong after the US House intelligence committee called the Chinese telecom equipment maker an arm of the Beijing government that swipes intellectual property from US companies and might be spying on Americans. US lawmakers leveled similar allegations against its rival Huawei.
Myanmar is trying hard to shake off its past as a poor, repressive hermit kingdom and become a place where foreign multinationals and investment funds want to be. The president, Thein Sein, has said he would accept a victory by the opposition leader Aung San Suu Kyi in the country’s next elections. The country is resource-rich, borders both India and China, and is about to fill up with oil and gas pipelines. Want to do business there? Here’s a quick guide to the obstacles.
CY Leung, Hong Kong’s new chief executive, has finished his first 100 days in office with his lowest-ever popularity rating. Much of this has to do with the non-democratically elected leader pushing more political integration with mainland China. Most upsetting to Hong Kong locals, Leung tried to introduce Chinese patriotism classes in schools before backing down following sustained street protests.
A link from China Daily
A link from Asahi Shimbun
It is looking inevitable that Bo Xilai will be found guilty of the multiple crimes he was accused of today. There is no separation between the party and the courts in China.
It is looking inevitable that Bo Xilai will be found guilty of the multiple crimes he was accused of today. There is no separation between the party and the courts in China.
GOOD MORNING QUARTZ READERS IN EUROPE!
Its economic growth is stalling. So it may be time for India to squeeze more productivity out of its large, poor, sleepy and over-subsidized agricultural sector.
Its economic growth is stalling. So it may be time for India to squeeze more productivity out of its large, poor, sleepy and over-subsidized agricultural sector.
This item has been corrected.
Whose side is Taiwan on? The tiny self-governed nation, over which Beijing asserts sovereignty, has waded into the dispute over a small group of islands in the East China Sea. Known as Senkaku in Japan and Diaoyu in China, both nations claim them.
Whose side is Taiwan on? The tiny self-governed nation, over which Beijing asserts sovereignty, has waded into the dispute over a small group of islands in the East China Sea. Known as Senkaku in Japan and Diaoyu in China, both nations claim them.
As Chinese workers riot at Foxconn, labor unrest isn’t the only thing concerning manufacturers.
China’s economic planners want the country to shake off its dependence on exports and develop a consumer economy. Fund managers consistently get excited about the country’s notorious savers spending more in shops too. In the UK, investment manager Fidelity has even launched what it calls the China Consumer Fund.
