Federal Reserve Chairman Jerome Powell warned today about “significant uncertainty” regarding the pace of the United States economic recovery and said small businesses and lower-income and minority Americans are particularly at risk.
Economists, of course, bear the onus of that reputational collapse. The person who put the imprimatur on our reports had no formal economic training, and his main criterion for the reports’ passing grade was that they should be “pleasingly non-strident.”
China has too much debt and that needs to change, World Bank President David Malpass said on Thursday. “China moved so fast that in some part of the world there is just too much debt,” David told CNBC’s Sara Eisen on “Squawk on the Street. ” “That’s something that we can work on with China.”
World’s second largest economy China plans to set a lower economic growth target of 6 percent to 6.5 percent in 2019 compared with last year’s target of “around” 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher U.S. tariffs and weakening domestic demand.
According to a recent survey in China, over 20 percent of Chinese people think digital payments will replace cash transactions in the future, as mobile payment platforms like Alipay and WeChat Pay increasingly replace the use of notes and coins in daily life.
Two largest telecom operators of India, struggling amid a bruising tariff war, have signalled that they are not willing to invest in the high-speed fifth-generation networks even as the government eyes a rollout by 2022.