World Economy – Page 10

The Experimental Reforms in China’s Economy

June 17, 2015January 22, 2018deenazaidiAsia-Pacific, ChinaLeave a Reply

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.

BRICS NEW DEVELOPMENT BANK – Does it have what it takes?

May 18, 2015January 22, 2018deenazaidiAsia-Pacific, Banking News, World EconomyLeave a Reply

The whole purpose of BRICS New Development Bank is to be self sufficient and rely less on western economies. The world’s reserves has shrunk from 90% (2004) of dollar denominated securities to 60% in 2014. But, the growing tension individually in the member countries could easily defeat the purpose for which it was originally formed. Some debate that this small initiative (formation of BRICS) could be a big challenge for the advanced economies.

Will China-led bank (AIIB) Test The Shift of Economic Powers?

May 4, 2015January 22, 2018deenazaidiBanking News, China, Economy, Investment, World EconomyLeave a Reply

The creation of AIIB, China has opened its closed doors to many countries. In committing to contribute up to 50% of the AIIB capital, it will be taking the lead in assisting the development of other Asian countries. There will be a lot of rising challenges in the development of the bank but this could be a great opportunity for China to prove itself as a global leader.

Eurozone Crisis Explained

April 9, 2015January 22, 2018deenazaidiEconomy, Europe, Eurozone Crisis, World EconomyLeave a Reply

The Eurozone comprises of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Established in 1999, these countries have adopted a common currency called the ‘Euro’. ‘Euro’ itself was introduced as a single currency no later than 2002. By sharing a common currency, the countries follow common economic and fiscal policies. Monetary policy decisions are taken by the independent European Central Bank , also known as the ECB. Entry to join the eurozone is controlled by the so-called Eurogroup.