Asia, Global Economy | featured news

Japan says it will forgive about 300 billion yen ($3.7 billion) of Myanmar's debt as a way to support the country's democratic and economic reforms.

China's economic momentum slowed in March as factory activity shrank for a fifth straight month, leaving investors fretting about the risks to global growth and anticipating fresh policy support from Beijing.

Chinese Premier Wen Jiabao cut his nation's 2012 growth target to an eight-year low of 7.5 percent and made boosting consumer demand the year's first priority as Beijing looks to wean the economy off its reliance on external demand and foreign capital.

VIENNA (Reuters) - China will remain part of international efforts to help Europe through its crisis, vice foreign minister Fu Ying said on Saturday, dismissing the idea that Beijing was sitting back as the region suffered.

China's services sector cooled in November to its weakest growth in three months, an HSBC purchasing managers' index showed on Monday, the latest data portraying an economy slowing quickly and in need of policy support.

Chinese factories battled with their weakest activity in 32 months in November, a preliminary purchasing managers' survey showed, reviving worries that China may be skidding toward an economic hard landing and compounding global recession fears.

China's high-flying economy is starting to lose altitude. The big question is whether the world's economic superstar will shrink gradually - or so fast that it harms a fragile global economy....

Economic growth in China during the third quarter of the year is expected to have slowed as a result of government measures to curb inflation.

Every six months, the Treasury issues a report declaring that China’s currency is undervalued, draining dollars and jobs out of the U.S. economy. And every six months, the Treasury defers action, saying the Beijing government is not manipulating its currency. But with the prolonged slump in jobs, pressure is mounting among American politicians — as well as those in Europe, Brazil and emerging markets — to challenge China, even if that means imposing import tariffs to protect domestic industries and jobs.

FedEx scared markets in its first quarter earnings report, noting the global economy would slow and demand, particularly from Asia, would cool, putting downward pressure on the stock.