India to benefit from US-China trade dispute
While the world’s two biggest economies are involved in the long-lasting trade dispute, other countries do not miss out a chance to improve their economic situation. Thus, India is quickly removing existing administrative barriers in order to encourage American and other foreign companies to set up their factories in the country. New Delhi authorities are considering to offer incentives to 324 companies, including Tesla and Glaxo. The government proposes to provide to these companies such benefits as the right to use the land to set up their factories and access to all necessary infrastructure. It seems that the government of Narendra Modi is trying to reach the target of a $5-trillion GDP by 2025. Sonal Varma, the expert on Indian and Asian markets, comments on this incentive, “We observed that in the first stage of relocation manufacturers largely preferred Vietnam. However, I believe that India still has all the chances to enter the competition for foreign companies.” In addition, according to Varma, India has a “unique advantage”, a huge domestic market which will certainly attract large investments. Over the past two years, the country has achieved significant economic progress, jumping by 37 places in the World Bank’s Ease of Doing Business ranking. The trade war between the US and China is a great opportunity for India to strengthen its economy.
ECB to reconsider recovery fund as permanent tool
ECB officials are poised to reconsider the region’s 750 billion-euro recovery fund to make it a permanent tool to combat economic shocks, e.g. the coronavirus-driven crisis. “This recovery plan tool is a response to an extraordinary situation.
11:11 2020-10-29 UTC+00
WTO allows EU to respond with counter-tariffs against US
The escalation of the trade dispute between the US and the EU could lead to another trade war. The World Trade Organization has authorized the EU to impose tariffs on about $4 billion worth of US goods in retaliation for subsidies granted to American aircraft maker Boeing.
08:34 2020-10-29 UTC+00
Golden Shield is on guard of China’s Internet censorship
The Chinese authorities use digital technologies to control the country’s citizens. The Communist Party of China led by General Secretary Xi Jinping intends to supervise every single resident. In fact, it seems that they have almost succeeded. Information the local population receives from the outside world is very limited.
08:03 2020-10-29 UTC+00
Global economy may face new crisis
Most economists foresee a gloomy future for the global economy.The coronavirus pandemic only increases the chance that the worst predictions will come true. There are only several positive forecasts. Almost all economists, including Carmen Reinhart, World Bank Vice President and Chief Economist, expect a new crisis.
07:04 2020-10-29 UTC+00
Turkey ramps up domestic gold production
After having almost emptied its foreign exchange reserves, Turkey is now betting on gold. Currently, the country is facing a severe crisis due to unreasonable military operations and incompetence of some officials. For this reason, Turkey has been seeking solutions to boost the local economy. It appears that gold looks like a perfect tool to improve the overall economic situation in the country.
14:15 2020-10-28 UTC+00
Bundesbank sees German real estate market reviving
According to the Bundesbank's projections, the German economy and its national property market will recover in the near future. The analysts note that despite the country's weak expansion rate on the back of the second wave of the coronavirus pandemic, its real estate market is gradually reviving.
14:01 2020-10-28 UTC+00