The world economy will grow just 3.1 percent this year, down sharply from a robust 5.9 percent in 2021, according to the projections by the Paris-based Organisation for Economic Cooperation and Development.
The ruling party is trying to revive economic growth while enforcing its “Zero Covid" strategy that has temporarily shut down Shanghai and other industrial centers while other countries are lifting travel curbs and reviving trade.
The new credit line is meant to provide long-term support to various infrastructure projects and drive business activity along the supply chain as China works to support its economy impacted by Covid.
A study of 1,500 regions over the past 40 years shows that economic production is reduced by increased number of wet days and extreme rain.
The IMF warns inadequate vaccine access and pandemic relief measures are widening the gulf between recoveries in developed and less developed economies.
Karen rebel group calls for unity among all ethnic fighters as seven people are reportedly shot dead in fresh protests against military regime.
US President Joe Biden stresses importance of free Indo-Pacific region as concerns mount about China's assertion of power around the region.
Exports spiked 60.6 percent on-year in the January-February period, well above analysts' expectations, while imports rose 22.2 percent, with electronics and textile exports such as masks contributed to the spike in outbound shipments.
Beijing will spend $210 billion on defence amid high government debt and coronavirus as ruling Communist Party sees economic growth of "over 6 percent" this year.
Turkish economy is projected to grow 2.6 percent and 3.5 percent in 2021 and 2022 respectively in latest economic survey by Organisation for Economic Co-operation and Development.
A think tank forecast that the economic fallout in the US from the Covid-19 pandemic will help China gain an edge in the world economy.
President Recep Tayyip Erdogan says Turkey offers significant advantages, especially for international investors seeking an alternative to the Asia-based manufacturing network.
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