Despite Crisis Global Economy There Are Points Of light A few weeks ago, it seemed that there was no there only bad news, but there are good things also occur at the same time. A report «global outlook and political changes» – prepared by the International Monetary Fund to be discussed at a meeting of the Economic Group of Twenty at the level of finance ministers and central bank governors in the group countries, which was held in the Mexican capital Mexico City on 4 and November 5 (November) general 2012 – The outlook for growth remains weak and with a significant downside risks.
The Million Dollar Months Reviews report says: «There is a modest expectations about increased global activity, despite the implementation of policies on decisively in the euro zone and avoid falling into the financial errors in the United States, but downside risks remain high. And the European Central Bank to take very strong action, but the aggravation of the crisis in the euro area still poses a threat. There are significant risks also arise in the United States by the (financial crisis) and the controversy about the imminent lifting of the debt ceiling and the lack of an economic road map agreed. And perhaps come the expectations of disappointing growth in developed and emerging economies alike, which is due to the consequences of the financial crisis in the first, and the end of the credit in recent mutations. But it is likely to be strong growth rates, too, if what the Million Dollar Months Reviews authors of the disposal policies rapidly towards the further strengthening of policies. »
Separately, data came from a number of disappointing major economies, where economic growth rates slowed down in India in the third quarter of this year, while Canada and Brazil experienced a sharp and sudden decline, at a time when unemployment rates rose in the euro zone to a new record upon reaching 11.7 per cent in the month of October (last October), and that by the retail sales decline in Germany unexpectedly fell in France consumer spending rates.
In the United States, the recession hit the entry of American citizens in the past month of October, while spending decreased simple, which is mainly due to the damage caused by Hurricane «Sandy». Income levels of US citizens for less than 0.1 per cent, compared to the previous month increased, while spending fell 0.2 per cent, according to data released by the US Department of Million Dollar Months Reviews Commerce.
She noted other recent data from the United States to a strong recovery taking place in the largest economy in the world, including the sudden rise of the rates of growth in the third quarter of this year to range from 2 to 2.7 per cent. In sharp contrast, the performance of the Canadian economy is much worse came last summer, as the country experienced a sudden drop in vulnerable exports in the activity of oil and natural gas sector, resulting in lower annual growth rates in the third quarter of this year to 0.6 per cent, less than the average growth forecast of economists, which amounted to 0.9 per cent.
This was the same rate of growth achieved by Brazil during the same period, which came as a major shock to the country in which the growth rate reached 7.5 per cent in 2010, where she was the Brazilian market expects to achieve almost twice this rate.
The Indian government is also facing a similar crisis, in terms of growth rate in India stood at 5.3 per cent in the third quarter of this year, in line with economists’ forecasts, but nonetheless was disappointing in a country that aspires to attain growth rates achieved by China ( 8 per cent). Like Brazil, India experienced a period of weak economic performance over the past 18 months, achieving a growth rate of less than 5.5 per cent during the current year.
These data led to stimulate the markets in India, where stock prices have risen sharply in the Mumbai Stock Exchange, hoping to give the government’s economic slowdown and political momentum that you need to move forward in the adoption of economic reforms, including one of the plans that the long-awaited to open the retail
Simple Profits System sector in the country to competition and international investment.
Of all the major economies, it seems that the Chinese economy was the only one who was able to recover from a worrying slowdown in before last summer, with the announcement of a series of positive data such as the process of changing the political leadership in the country, which occur every ten years, at a time earlier last month. In contrast to all this gloom, «Office for National Statistics» in Britain last week announced that the UK economy grew at a rate of 1 per cent during the third quarter of this year, which is considered a good rate to some extent compared to the rates achieved by most other European economies Almost countries of the world. On the other hand, although the London still has until now the location of leadership as a center of global financial services, confirmed «Economics and Business Research Center» in London that the number of the functions of financial services in Hong Kong, which accounted for less than half of its counterpart in London in 2005, may exceed its counterpart in London by 2015, to Hong Kong to become the main financial center in the world. And confirms Douglas McWilliams, chief executive of Simple Profits System , that the main reason behind this matter lies in the batch that may be obtained Hong Kong after the internationalization of the Chinese currency, the renminbi, as well as cumbersome regulations and high taxes in the United Kingdom.
In spite of that, and as confirmed in one of the articles that you typed in the month of April of this year, George Osborne, British finance minister began, in a campaign aimed at the development of the City of London to become a center for trade in renminbi abroad, while the «HSBC Bank C »in London launched the first RMB outside China and Hong Kong. Both initiatives are considered a clear signal of the determination of the London Co-operation and competition in the area of trade in renminbi, which is experiencing rapid growth at the international level. It led the efforts of the Municipality of the City of London to continue to develop the city into a major center for trade in renminbi abroad to provide a comprehensive platform to launch this initiative.
The City of London is a major market for trading foreign exchange in the world, as it holds only 37 percent of this trade, which makes it enjoys an ideal position to join Hong Kong as a major center for the trade of the Chinese currency in the world. It supports the breadth of corporate financial and professional services, which is headquartered in London this ambition, which means that the city already possess the necessary expertise to develop the market.
In spite of having a lot of worrying about the prospects for global growth statistics, what London is still able to attract large amounts of international investment from the Middle East, and now also from China. Predicted «leading economic research Organization for Economic Cooperation and Development», a Western organization, the British economy shrinking less than expected in the current year, but also warned that the recovery will be slow and uncertain against the backdrop of the worsening global situation. The organization also predicted the growth of the British economy faster than the French and German counterparts pace.
Everyone is waiting eagerly large «autumn statement for the year 2012», which will be delivered by British finance minister George Osborne on Wednesday. The statement includes the latest developments for the government’s economic plans based on the latest forecast «responsibility Budget Office» British. It is expected to reveal the autumn statement on the results of the review, which lasted a whole year to model «private finance initiative» successful – a counterpart to the British system of partnership between the public and private sectors. I expect also that this statement includes plans to provide savings for the operation of private finance initiative projects, and will comment on this matter next week.
I will, in conjunction with Jeffrey Spence, CEO of the infrastructure in the United Kingdom, delivered the keynote address at the «infrastructure conference in London» which will be held on Thursday of next week, a few hours of throwing Osborne to a statement autumn after. Osborne will also announce some changes to the model «private finance initiative» Following the review, which lasted a whole year. The focus of the infrastructure body in the United Kingdom’s focus on infrastructure priorities in Britain in the long term and meet the challenge of facilitating the task of the private sector investment over the long term. I will cover these things in my Simple Profits System next week.
In the end, I emphasize that there are always good news among the bad news.