Debt crisis are haunting South Korea’s
South Korea’s debt issue began less than a year ago, and credit union lending is raising concerns that it could cause more trouble. MG Community Credit Cooperatives, one of Korea’s largest lenders, closed a branch last month after reporting a 60 billion won ($45 million) real estate loan loss. This led to deposit outflows at…
Oil will have tighter supply until end September
Oil prices fell this week, but remain 2%-3% higher for 2023. Saudi Arabia and Russia’s production cuts indicate future growth. Large oil producers extended output limits until September, limiting crude supplies. Tighter supply and US fuel use indicate tighter markets, but increased interest rates impact demand.
The PBOC promised to boost China’s GDP
The PBOC reduced the one-year loan prime rate to 3.45% and the five-year LPR to 4.20%, indicating China’s limited monetary policy flexibility. The drop comes amid a faltering post-COVID economic recovery and falling oil imports. The stagnant mortgage rate raises concerns about China’s real estate crisis, with many developers facing debt defaults. Investors seek targeted…
Oil price start another hiking weeks
Oil prices gained in Asian trade on Monday due to tighter supply, despite China’s disappointing interest rate drop. Crude prices fell from 2023 highs, ending a seven-week winning streak. Tighter supply from production cuts from Saudi Arabia and Russia stabilized prices.
China’s global trade demand has fell for months
China’s global trade significance is significant, and any slowdown will affect worldwide markets. Softening Chinese demand has caused a reduction in trade, with exports falling for three months and imports for five. This could hurt US and international producers and exporters, and restoring lost demand may be difficult. Supply-chain analytics firm LevaData CEO Keith Hartley…
China’s economy is struggling on many sector. would it impact on world’s markets?
China’s economic woes have grown significantly since President Xi Jinping lifted his “zero-COVID” restrictions in December. Experts fear that China’s economic woes could affect other countries, as seen in recent data. China’s economy is struggling, with worse industrial production, retail sales, and exports than expected. This is due to an unstable property market, with issues…
FED reported banks loan has decline
The Federal Reserve reported that US commercial banks reduced business lending, with total bank credit declining to $17.23 trillion, down from $17.25 trillion and $17.32 trillion a year earlier. Commercial and industrial loans decreased to $2.74 trillion, and loans and leases fell to $12.13 trillion.
China economic problems have chilled global markets
The property crisis in China has raised concerns about financial system contagion, which could destabilize an already weak economy due to weak domestic and foreign demand, falling industry output, and rising unemployment. Nomura lowered China’s GDP prediction for this year, now expecting 4.6% growth, down from 5.1%. Increasing numbers of economists worry that China may…