Japan and its Asian neighbors need to look for "alternative engines of growth" as exports to Europe and the United States have slowed, said Federal Reserve Vice-Chair Janet Yellen on Thursday
"It would be desirable, both for the region and for the global economy, if emerging Asia were able to rely...more on a fundamental rebalancing of growth toward domestic demand," Yellen said in a speech prepared for delivery to the Institute of International Finance meeting in Tokyo
U.S. officials have worn a path to Asia in recent years asking the region to boost consumer spending
Turning to Japan, Yellen said that many economists believe that easing regulation would promote faster productivity growth, especially in the services sector
She said that ways should be found to boost labor force participation given declines in working-age population
"Higher employment and faster productivity gains would help to boost economic activity, enhance fiscal sustainability, and restore Japan's contributions to global economic growth," she said
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SHANGHAI--China's gross domestic product this year is expected to grow at around 7.7%, and GDP growth in 2013 is expected to be at 8.2%, researchers at a government think tank said in a report Friday.
For these two years, China needs to stabilize investment growth, improve investment structures, expand structural tax reduction and boost technological innovation to raise China's long-term growth potential, the Chinese Academy of Social Sciences, a top state think tank, said in a summary of the report posted on its website.
Chinese policymakers are facing urgent calls to push for economic reforms amid the current growth slowdown as exports and industrial growth weaken. In 2011, China's GDP rose 9.3%. The government is targeting economic growth of 7.5% this year
PEKÍN, 15 Oct. (EUROPA PRESS) -
La tasa de inflación interanual de China experimentó en septiembre un ligero retroceso respecto al mes anterior al situarse en el 1,9%, frente al 2% registrado en agosto, lo que deja abierta la puerta a que Pekín emprenda nuevas medidas de estímulo económico, según reflejan los datos publicados por el Buró Nacional de Estadísticas de China.
De este modo, la tasa de inflación china se aleja del 6,1% interanual registrado en septiembre de 2011 y queda por debajo de los mínimos de este año, cuando se situó en el 4,5% en enero.
En concreto, los precios registraron un alza del 2% en las ciudades y del 1,7% en las áreas rurales.
Los alimentos se encarecieron un 2,5%, mientras los productos no alimentarios lo hicieron un 1,7%.
Por su parte, los precios de producción industrial reflejaron una contracción del 3,6% y acumulan ya siete meses consecutivos de deflación, en contraste con el alza del 6,5% que mostraban en septiembre de 2011.
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