world economy

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Poll: 72% of World Cutting Spending

Economic malaise spreads to emerging markets, hits hard

(Newser) - Nearly three-quarters of households worldwide are cutting spending, with emerging markets particularly fretful about global economic woes, a 22-country survey found. Those countries are facing “precipitous decline," putting “in check any notion of 'decoupling’”—the idea that emerging markets are working independently of those of...

Collapsing Nations Threaten to Be Obama's First Crisis

Imploding world economies would demand tough foreign policy choices

(Newser) - Barack Obama's first major foreign policy crisis threatens to be no less that the complete collapse of a large and unstable nation, Marc Ambinder writes in the Atlantic. The transition team has so far been silent—in public, anyway—on the prospect, but there are indications they are convinced the...

Youths Flee Struggling Iceland
 Youths Flee Struggling Iceland 
Dec 2, 2008 3:49 PM CST

Youths Flee Struggling Iceland

Ailing economy forcing mass exodus

(Newser) - Iceland faces its largest exodus in a century as job seekers flee the ailing nation, which is steeped in its worst financial crisis since independence. One survey estimates about half of Icelanders between 18 and 24 plan are thinking about leaving the country for Norway and other relatively strong economies....

In Rare Move, Luxury Goods Peddlers Cut Prices

Economic downturn forces 'creative' thinking

(Newser) - Facing a worldwide economic downturn, some makers of luxury goods—designer clothes, bags, shoes—are breaking with long-held tradition and trimming prices in the US, the Wall Street Journal reports. Companies such as Chanel, Versace, and Chloe are making cuts of up to 10%. Still, when image is key, purveyors...

Deflation Danger Looms as World Economy Slows

Falling prices could trigger long downward spiral

(Newser) - Fears of runaway inflation have been replaced by fears of its opposite as the world's economy starts seizing up, the New York Times reports. Economists see a potentially devastating deflation ahead as cash-strapped consumers create a glut of underpriced, unpurchased goods and services—in turn triggering mass layoffs at struggling...

British PM Adds Obama Clip in Bid to Boost Popularity

Brown faces revolt from within his ruling Labour party

(Newser) - Gordon Brown sought to capture some of Barack Obama’s political celebrity today, the AP reports, with the embattled British prime minister showing a gathering of his Labour Party old footage of the Illinois senator praising him. Brown faces a slumping economy, and elements within Labour would like to see...

Darling: British Economy Is at 60-Year Low

UK economic chief bluntly warns of harder times ahead

(Newser) - The outlook for Britain's economy is the bleakest since the days when the country was rebuilding from the Blitz, Chancellor Alistair Darling tells the Guardian. Darling warns that the downturn for the UK and the wider world could be "more profound and longer-lasting" than people expect. He acknowledges that...

World Economy Falls With US
 World Economy
 Falls With US
Aug 24, 2008 4:53 AM CDT

World Economy Falls With US

Nations hit hard by mortgage crisis, high fuel costs

(Newser) - Gone is the hope that the global economy will stay strong as America's financial fortunes flag. The world’s largest economies are showing signs of a slowdown, the New York Times reports. Japan, Germany, France, Italy, Spain, the UK, even famously fast-growing India and China are all taking a hit....

European Unity Threatened by Economic Slowdown

Slowdown in Spain is representative of the EU's growing economic ills

(Newser) - Europe seems to be catching the economic malaise that has already affected the US, and the downturn is putting a damper on member nations' enthusiasm for the 15-year-old Economic Union, the Washington Post reports. Revised projections show European economies slowing down as much, if not more, than the US over...

US Economy Isn't Bouncing Back
 US Economy Isn't
 Bouncing Back 
analysis
Jun 8, 2008 5:11 PM CDT

US Economy Isn't Bouncing Back

Fed cuts, stimulus package won't do the trick

(Newser) - Forget those predictions of a US economic revival in 2008, Daniel Gross writes in Newsweek. The four horsemen of the economy—credit and housing crises, food and energy prices—are getting meaner, while booming commodities and crunching credit are curbing attempts to fight back. "As a result, the consumer-driven...

Agency Cuts Oil-Demand Forecast
Agency Cuts Oil-Demand Forecast
Apr 11, 2008 10:21 AM CDT

Agency Cuts Oil-Demand Forecast

Projected growth worldwide at lowest level since 9/11 attacks

(Newser) - The projected growth in the demand for oil worldwide is at its lowest level since the Sept. 11 terrorist attacks, but don't expect any any price relief, reports the Wall Street Journal. The IEA pegs projected growth at 1.3 million barrels a day, down 35% from its projection in ...

World Economy May Dodge US Downturn
World Economy May Dodge US Downturn
Jan 30, 2008 3:01 AM CST

World Economy May Dodge US Downturn

IMF predicts slide, but not the crisis it would have been 5 years ago

(Newser) - The world economy will still catch a cold when America sneezes, but it won't be as bad as it would have been 5-10 years ago, the Washington Post reports. The International Monetary Fund predicts a 2008 global growth forecast of 4.1%—down from 4.9% last year—largely because...

Davos Summit: a Moral Sham?
Davos Summit: a Moral Sham?
OPINION
Jan 25, 2008 9:28 PM CST

Davos Summit: a Moral Sham?

Moguls shed guilt and seek bailout money, but do pay homage to ideas: Guardian

(Newser) - The Davos summit, an annual retreat “where money comes to find morality and politics comes to meet money,” is the capital of capitalism—yet the world's economic crisis is only spoken of in whispers there, writes Julian Glover in the Guardian. Instead, moguls press the flesh with Middle...

Weak Dollar a 'Life Threat' to Airbus

Airplane giant urges European governments to slow surging euro

(Newser) - The weakening dollar has European aerospace giant Airbus in a tailspin that could be “life-threatening,” CEO Tom Enders said yesterday, the Financial Times reports, adding that the exchange rate has “gone beyond the pain barrier.” Airbus said every 10-cent decline in the dollar cost the company...

US Ranks Third in GDP Per Person
US Ranks
Third in GDP Per Person
Nov 22, 2007 11:42 AM CST

US Ranks Third in GDP Per Person

Household spending rate is second-highest in world, report says

(Newser) - The US trails only Luxembourg and Norway in GDP per person and has the second highest household spending rates among 55 nations in a new report, reports the Wall Street Journal. The GDP measures household and government spending as well as business investment and net exports. The US per capita...

China's Still Booming, but What About Inflation?

11.5% growth pushes prices worldwide

(Newser) - China's economy is booming and inflation is in check, but for how long? Third quarter growth swelled the economy by 11.5%, putting China ahead of Asian rivals India and Vietnam, and inflation dropped to 6.2%. Beijing says it will keep falling, but inflationary fears sent the Shanghai stock...

Indian 'Success Story' Funded by Migrants

Money mailed home makes possible Kerala's leftist showcase

(Newser) - The South Indian state of Kerala, long touted for achieving a high quality of life in the face of dire poverty, relies heavily on earnings sent from menial jobs abroad, the New York Times reports. Offered as a leftist alternative to market-driven development in poor nations, Kerala is famous for...

China's Surplus Soars to $26.9B
China's Surplus Soars to $26.9B
Jul 10, 2007 2:59 PM CDT

China's Surplus Soars to $26.9B

Weak yuan is driving China's economy to a record expansion; trade surplus nearly doubled

(Newser) - China's trade surplus surged to a record $26.9B in June, an 87% increase since last year. Economists attribute the trade gap to China's significantly—as much as 40%—underpriced currency, the yuan, reports Bloomberg. Half of China's surplus is with the US, which recently began preparing legislation to sanction...

Zimbabwe Arrests Dozens in Price Wars

Businesses flout strict cost-control laws as inflation passes 3,700%

(Newser) - Police in Zimbabwe have arrested 1,328 businesspeople, including 33 top executives, for violating official price controls installed to curb uncontrollable currency devaluation. The new regulations demand that many goods' prices be cut in half in response to inflation that has now risen to more than 3,700%.

Dutch Do Pensions Right
Dutch Do Pensions Right
Jun 15, 2007 2:00 PM CDT

Dutch Do Pensions Right

The US should read up on Social Security in the Netherlands, reports Time

(Newser) - Governments around the world are stuck between tightfisted Anglo-American pension plans that pay only a fraction of one's past salary, and extravagant European-style social security that ends up welshing on the payments. But the Dutch have struck a balance that's working, reports Time, as sufficient amounts of money are saved...

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