Economic inequality and poverty rates in China today are increasingly going down.
However, as China’s economic growth continues to slowdown, its government will have to implement relevant measures meant to effectively deal with this trend.
This Op-Ed/Analysis is the author’s personal opinion and does not necessarily reflect the opinions or views of JerusalemOnline.comOp-Ed: How China should handle the gradual economic slowdownCompared to the rest of world, China’s economy today continues to grow at a rapid pace.
When dealing with the Chinese economy, it is important to take into account its aging society, which takes a toll on its workforce.
It is therefore feasible to comprehend that China will continue to be a vital part of the global economy.
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Federal Reserve: US economic slowdown temporary
Image copyright Reuters Image caption Federal Reserve chair Janet Yellen has been optimistic about the US economyThe US Federal Reserve has said it expects a recent slowdown in the US economy to only be temporary.
But they were watching to see if policymakers would hint at a possible rate rise in June, despite recent weak economic data.
The Fed has only raised interest rates three times in the last decade, most recently in March this year.
The Federal fund interest rate peaked in the early 1980s at nearly 20%.
Traders reacted by increasing the probability of a rate rise next month.
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Ward commented, ‘Soft UK GDP growth in the first quarter of 2017 partly reflected pay-back for a strong fourth quarter and a recovery seems likely in the current quarter.
He opined that the current level of money supply growth is much more akin to the slowdown in GDP growth in 2010-2011, than to the period of 2012 when the UK appeared to enter a ‘double dip’ recession.
Recent economic data, such as Manufacturing and Service Sector PMI (Purchasing Managers Index) surveys have painted a relatively robust picture of the health of the UK economy.
Inflation is on course to rise significantly in 2017-18 [as a result of the strong economic performance of 2016-16].
Ward concluded his comments with a remark about the potential levels of inflation and interest rates in the UK in the near term.