Data and Financial Journalist
While the nations involved remain very optimistic about getting co-operation especially during meetings, it might not be as simple and easy as it seems. While emerging markets have their own tale to tell and could be struggling economically, things might appear difficult in the long run.
June 30th 2015 could be an important turning point for Greece: an exit or a repayment of the debt as it reaches its debt repayment deadline. A crisis in Greece will affect markets all across the globe. In fact, they are already reflected in the stock exchanges across the world. The country is heading for a default and market reactions are the first sign that nothing is going good with Greece. Clearly, market perceptions are that Greece will be unable to meet 1.6 billion euro of loan repayment to the International Monetary Fund. The widespread panic happened last week due to the failing talks between Greece and its creditors.
This probably is a situation which will be a loss in either case: if Greece exits, it could be a bigger issue for Eurozone and Greece will have to fight its own battles with no common currency nation by its side.
China’s leaders now aim to transform China into one of the world’s leading industrial powers by 2045 and for this, a new business model will be designed. By doing this, it aims to reduce and eventually overcome the country’s dependence on cheap manufacturing and instead focus on advanced industrial goods for markets. Not only this, China has for long been building knowledge-based economy, driven purely by innovation and domestic consumption. But its real estate sector still consists of ghost towns and dozens of unleased commercial spaces.