Latest news with #JoyceChang
Economic Times
10 hours ago
- Business
- Economic Times
India to remain a bright spot amid global uncertainty: World Bank's Auguste Kouame
Despite global economic uncertainties, India is projected to maintain strong growth, with a GDP increase of 6.3% in FY26, supported by its robust domestic economy and lower trade dependency. However, challenges remain, including stagnant manufacturing growth and increasing divergence among states. Artificial intelligence, energy, and skill development are identified as key growth drivers. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Economy 1. Icra retains FY26 GDP forecast at 6.2% Tired of too many ads? Remove Ads India is expected to remain a bright spot in the global economy despite trade and policy uncertainty, economists and experts noted at a panel discussion on Thursday.'India has a strong domestic economy and remains a bright spot in the global economy,' said Auguste Kouame, country director for India at the World Bank India's gross domestic product (GDP) is projected to grow by 6.3% in FY26, according to the World Bank. The Indian economy expanded by 6.5% in lower trade dependency provides it buffer against global volatility, panelists noted speaking at the India Policy Forum 2025 by NCAER.'India will be less affected than other countries in Asia as trade accounts for 40% of GDP, while for others it is 80%,' said Joyce Chang, managing director and chair of global research, J.P. April, the United States announced tariffs on around 60 countries worldwide, including India, which was hit by a 26% tariff rate. While this has been paused for 90 days until July 9, the baseline tariff of 10% remains in place.'A tariff is like a tax that will be borne mostly by the consumers,' said the United States, this could be an additional tax of $400 billion and offset growth by 0.6-0.7 percentage points, she World Bank projects US economic growth to grow to 1.4% in 2025 compared to 2.8% in emphasized the importance of India's role in the global economy, particularly within the Global South. 'The global economy stands on four key anchors – US, China, European Union, and Global South, and India will play a big role in the global south coalition,' he India aims to become an advanced economy by 2047, there is a puzzle which policymakers are struggling with, noted Prachi Mishra, director and head, Ashoka Isaac Center for Public Policy, Ashoka University.'Manufacturing's share in GDP has remained stagnant over the years, and the paradox is that despite being labour-abundant, India's domestic production and exports are becoming increasingly capital intensive,' Mishra accounts for around 17% of India's also raised concern that divergence among states has global headwinds, panelists believed that the financial markets would remain ahead, Kouame identified that artificial intelligence (AI), energy, and skill development are some of the key areas that will drive growth for the global economy.
Yahoo
16-04-2025
- Business
- Yahoo
Global stocks decline as U.S. imposes ban on Nvidia exports to China
U.S. markets were mixed yesterday. Nvidia stock fell 5.7% in after-hours trading after the White House restricted its trade with China. Bank of America, Citigroup, and Netflix all saw gains, while news that China would pause purchases from Boeing caused its shares to fall 2%. The result: Stocks are down across Asia and Europe this morning, and U.S. futures are too. The S&P 500 closed down 0.17% yesterday; the index is down 8.25% year to date. S&P futures were trading down 0.68% this morning, pre-opening bell. Asia-Pacific markets fell this morning after the U.S. barred Nvidia from shipping its H20 AI chip to China, intensifying the trade war between Washington and Beijing. Semiconductor companies declined more broadly on Trump's tightened export controls on Nvidia. TSMC and SK Hynix, two major Nvidia suppliers, fell by 2.5% and 3.7% respectively. Asia fell even as China reported better-than-expected economic data on Wednesday. China's economy grew by 5.4% in the first quarter of the year, ahead of consensus expectations of 5.1%. Europe followed suit, with its major indexes trending down in morning trading. Here's a snapshot of the action from Fortune's CEO Daily: The S&P 500 closed down 0.17% last night. The index is down 8.25% YTD. S&P futures were trading down 0.68% this morning, pre-opening bell. Hong Kong's Hang Seng closed down 1.9% Taiwan's TAIEX index dropped by 2%. Japan's Nikkei 225 dropped by 1%. South Korea's KOSPI fell by 1.2%. The Stoxx Europe 600 was down 0.9% in early trading. The UK's FTSE 100 was down 0.5% this morning. The U.S. bond market could come under further pressure, according to a research note published by JPMorgan's Joyce Chang and her team. The Trump Administration wants the yield on 10-year Treasuries to fall, in order to make consumer credit cheaper. But the 2025 budget, currently passing through Congress, 'raises concerns about fiscal fallout and debt sustainability,' Chang wrote. 'The CBO's long-term budget outlook suggests that debt levels could reach 214% of GDP by 2054 if tax cuts are made permanent and rates rise by 1%.' Her conclusion is that 10-year Treasuries will remain at a yield of '4.5% or higher' going forward. This story was originally featured on Sign in to access your portfolio
Korea Herald
05-03-2025
- Business
- Korea Herald
US tariffs, growth woes push BOK cuts: JPMorgan research chief
Joyce Chang, chair of global research at JPMorgan, expects Korea's central bank to cut its policy rate by 75 basis points this year amid concerns over the Korean economy's slowing growth and repercussions from the US administration's tariff policy. 'We expect that the Bank of Korea's terminal policy rate to fall to around two percent, given some of the growth concerns and the negative impacts from US tariff shocks,' she said during a webinar hosted by Seoul-based Institute for Global Economics on Wednesday. The BOK slashed its interest rate to 2.75 percent from 3 percent on Feb. 25, the lowest rate in over two and a half years. The rate cut came amid murky 2025 outlooks for Asia's fourth-largest economy from global financial institutions and the central bank. The BOK cut its 2025 gross domestic product growth forecast to 1.5 percent from the previous 1.9 percent it projected in November. 'Given some of the downward revision of the annual growth forecasts for 2025, I think there was a necessity to address the downward pressure on economic growth that outweighed other considerations such as inflation and financial stability and that prompted the additional rate cut,' Chang said. She expected that the Korean economy would recover gradually over time from the impact of the ongoing political uncertainty triggered by President Yoon Suk Yeol's declaration of martial law on Dec. 3. Regarding US President Donald Trump's announced tariff policies, Chang expressed concern over the adverse impact on Korea's economic growth, noting that Korea has the highest revenue exposure to the US in Asia, second only to Taiwan and excluding China. Trump has claimed that South Korea imposes tariffs on US products up to four times higher than those the US applies to Korean goods. In response, Korea's Ministry of Trade, Industry and Energy refuted this assertion, clarifying that the average most-favored-nation tariff rate in Korea stands at 13.4 percent, four times higher than the US's 3.3 percent rate. The most-favored-nation tariff rate is the highest tariff that World Trade Organization members can charge to other WTO members without a free-trade agreement However, they said that under the free trade agreement effective since 2012, tariffs on most products have been eliminated, resulting in an effective tariff rate of approximately 0.79 percent on imports from the US in 2024.
