International News
July 2008

As signs appeared that the US was still facing recession, a senior Chinese finance ministry official said any excessive fall in the dollar’s value would not be in the interest of the US or the global economy and that China hoped US officials would take effective steps to address that issue.






July 2008

A gauge of manufacturing in New York state contracted in June for the fourth time in five months, the New York Federal Reserve said in a report that also painted a mixed picture on inflation. The New York Fed’s “Empire State” general business conditions index fell to minus 8.68 from minus 3.23 in May.






July 2008

The Chinese economy is at risk of a sharp slowdown in 2008 and may need to accept above-target inflation to keep growth on track, a government researcher said.






July 2008

Soaring inflation and slowing growth in India will not affect foreign investment flows, as these phenomena are not unique to the economy and the country still holds more attractions than others, KPMG said.






July 2008

The lack of requisite skills and the shortage of power will likely be the main stumbling blocks to economic growth in Africa, senior delegates at the World Economic Forum (WEF) said.






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