ASEAN KEY DESTINATIONS
Economic headlines are gloomy
By David Swartzemtruber
Growth slows in emerging Asia
Euro factory growth posts steepest fall since 2008
US private sector hiring slumps in May
US stocks tumble on weak economic data
China Lending-Binge Hangover Looms in 2013
Asia Stocks Drop as U.S. Jobs, Manufacturing Reports Disappoint
Indian Equities Trail Emerging Markets
Economies both at the national and global levels do have their ups and downs. There are boom times and bust times.
What characterizes the current scene, however, is uncertainty.
Some say that there has not been enough restructuring in derivatives that triggered the real estate bubble bust in the United States in 2008. Others say that big US banks are at risk. One optimist notes that the booming exports of the US, fueled by the inexpensive dollar will prevent a US recession.
In Asean, everyone looks forward to the recovery of Japan in the third quarter to help the region. Meanwhile, central banks raise interest rates as happened in Thailand on Wednesday to control inflation as food, petrol and commodity prices continue to rise.
“Living with uncertainty” seems to be phrase for the next few months for the global economy.
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