Latest Articles about Economics

China’s Maturing Relationship with Latin America
The five-nation visit by Chinese President Hu Jintao to Latin America in conjunction with the November 2004 Asia-Pacific Economic Cooperation Forum (APEC) summit in Santiago, Chile, marked the beginning of a fundamental transformation in China’s relationship with Latin America. Prior to that trip, the People’s... MORE

China Debates Forex Reserves; Boosts Strategic Petroleum Reserves
A string of recent pronouncements from Beijing leaders capped off with a strong statement by Premier Wen Jiabao over his concerns for the value of China's $681.9 billion investment in U.S. Treasury bonds has highlighted a troubled Chinese leadership's outlook for 2009. Premier Wen's statement... MORE

World Economic Crisis Drags Armenia into Recession
The global economic crisis is taking an increasingly heavy toll on Armenia, forcing its government to devalue the national currency, cut budgetary spending, and seek hundreds of millions of dollars in foreign assistance. With no end to the worldwide downturn in sight, the Armenian economy... MORE

Ukrainian Central Bank to Become More Independent from Government
The efforts of Prime Minister Yulia Tymoshenko's government to tighten control over the banking sector have failed. In order to qualify for loans from the IMF, the government has had to cancel its orders for the National Bank of Ukraine (NBU) to buy government bonds... MORE

Turkish Economic Stimulus Package Foresees Temporary Tax Cuts in Automotive and Other Sectors
The Turkish government announced a comprehensive economic stimulus package on Friday. The decision comes against the background of deteriorating economic indicators that signal a serious recession and mounting pressure from market players for the government to act swiftly to alleviate the crisis. Industrial production showed... MORE

Russian Anti-Crisis Policy Is Adrift Without Direction
Russia took part in two different economic forums last weekend where conflicting propositions for overcoming the global crisis were advanced. Moscow had little to contribute to any course. Finance ministers of the G20 gathered in Horsham, UK, to prepare the agenda for the summit of... MORE

Economic Problems Beset Belarus
To date, there has been little other than optimistic prognoses from Belarusian government circles about the state of the economy. Unlike the situation in neighboring states, Belarus is not facing recession, and economic growth continues. Moreover, President Alyaksandr Lukashenka has assured citizens of government protection,... MORE

Russia Presses Military Modernization, Despite Financial Crisis
On March 4 Russian Deputy Defense Minister for Finance and Economic Affairs Lyubov Kudelina outlined defense spending plans in light of the global financial crisis, expressing confidence that although there would be some cuts in the overall budget of the Ministry of Defense (MoD), this... MORE

New Directions in China’s Health Sector Reform
The State Council of the People's Republic of China (PRC) approved a proposal for a new round of health sector reforms (HSRs) on January 21. The policy paper, "Guiding opinions for further reforming medical and pharmaceutical system," is the blueprint for Beijing's renewed efforts toward... MORE

Yushchenko, Tymoshenko Pledge Reforms in Letter to IMF
Ukrainian President Viktor Yushchenko and Prime Minister Yulia Tymoshenko have managed to set their differences aside and agree on a reform package in an effort to save the economy from imminent collapse. Yushchenko and Tymoshenko agreed on March 2 on the content of a letter... MORE