- Liu Guiping, deputy governor of the People’s Bank of China, spoke to the Global Asset Management Forum in Beijing on Saturday.
Highlighted a number of concerns:
- Covid-19 has sped up the shift in the global distribution of production … In addition to the influence of geopolitical contests, China’s industrial sectors are facing double pressure – industries moving into Southeast Asia and back to developed countries
- Chip shortages and supply chain stoppages threaten supply chain security and competitiveness
- increasingly unpredictable course of the Covid-19 pandemic
- rising inflation and tightening monetary policies
- growing anti-globalisation and nationalist sentiment that could have an impact on international trade
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Archives of “January 17, 2022” day
rssGoldman Sachs slash their US economic growth forecast for 2022 to 3.4%
Goldman Sachs cite:
- diminishing expectations for fiscal stimulus
- the spread of the Omicron variant
Forecast now is for GDP growth in 2022 significantly downgraded to 3.4%
- from 5-6% pace in 2021
- However, above the GS 1.75% estimate of trend growth