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☆ China's growth is set to slow next year despite temporary boost from stimulus, World Bank warns
▼ + stars: | 2024-10-08 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

However, despite the measures, which have mainly focused on monetary policy, the World Bank's 2025 growth projection was unchanged from earlier projections. The international lender estimated that China's growth rate would drop to 4.3% next year, down from a projected 4.8% in 2024, in an economic update on Tuesday. China's economic growth rate is expected to decline further in 2025 despite a temporary boost from recent stimulus measures, according to the World Bank. The World Bank has long advocated for China to boost its growth through bold policy actions such as unleashing competition, upgrading infrastructure, and reforming education. "For three decades, China's growth has spilled over beneficially to its neighbors, but the size of that impetus is now diminishing," the World Bank said in its Tuesday report.

Persons: Aaditya, Mattoo, James Sullivan, Hui Shan, Goldman Sachs, CNBC's, Goldman Organizations: World Bank, Bank, JPMorgan, National, Reform, East Locations: Aaditya Mattoo, East Asia, Pacific, Beijing, Asia, China, beneficially

☆ World Bank economist discusses how China stimulus could affect regional growth
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWorld Bank economist discusses how China stimulus could affect regional growthAaditya Mattoo, the World Bank's chief economist for the East Asia and Pacific region, discusses Beijing's latest financial stimulus measures and what it could mean for economic growth in the country and region.

Organizations: World Bank, East Locations: China, East Asia, Pacific

☆ Islamophobia and India’s election: Rising Hindu nationalism leaves Muslims fearful in India’s holy city
▼ + stars: | 2024-04-30 | by ( Rhea Mogul | Will Ripley | ) edition.cnn.com time to read: +18 min

Varanasi, India CNN —The sun glistens on the Ganges as Hindu devotees bathe in the holy river’s waters, and the Muslim call to prayer reverberates through the dusty air. The Gyanvapi mosque, left, and Kashiviswanath Temple on the banks of the river Ganges in Varanasi, India, December 12, 2021. He believes Gyanvapi is not a mosque, but a Hindu temple, and wants to see his community worship inside the walls of the building. Vishwambhar Nath Mishra, the priest of a prominent Hindu temple in Varanasi, believes Modi’s stoking of religious tensions is ruining the fabric of Indian society. This is my country.”Read more from CNN’s India election coverage:Billions spent, jungle-trekking poll workers and voting at 15,000 feet.

Persons: Narendra Modi’s, Modi, Varanasi John Mees, Sana Sabah, trepidation, “, Modi’s, Rajesh Kumar Singh, John Mees, Syed Mohammad Yaseen, ”, Hinduism John Mees, ’, Dileep Patel, inching, Nasir Ali, Ali, ‘ Jai Shree Sri Ram ’, Vijay Bedi, CNN Ali, Muzamil, Usman, it’s, Jai Shree Ram ”, Manish Swarup, Raja Singh, we’ll, Singh, –, Jaiveer Shergill, spokespeople, haven’t, Shamsher Ali, Emperor Aurangzeb, Lord Shiva, Kashi Vishwanath Temple, Pawan Kumar, ” Ali, Yaseen, ” Syed Mohammad Yaseen, turbocharge, ” Modi, Ram, Lucas Vallecillos, Swami Jitendranand Saraswati, Gyanvapi, Swami Saraswati, Amit Pandey, Vishwambhar Nath Mishra, ” Mishra, ” Read, Narendra Modi Organizations: India CNN, Bharatiya Janata Party, BJP, CNN, Rashtriya Swayamsevak Sangh, Modi, Bhajanpura Police, United Nations, Human Rights, ” CNN, Modi’s, Hate, AP BJP, T, Human Rights Watch, Amnesty International, International Federation for Human Rights, Reuters, Guards, “ Locations: Varanasi, India, Varanasi John, today’s India, “, Hinduism, Jammu, Kashmir, New Delhi, Delhi, Mustafabad, Rajasthan, Jaipur, Gujarat, Washington, BJP, Ali, Kashi, Gyanvapi, John, Ayodhya, Uttar Pradesh

☆ The developing East Asia and Pacific region is 'underachieving,' World Bank economist says
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe developing East Asia and Pacific region is 'underachieving,' World Bank economist saysAaditya Mattoo, the World Bank's East Asia and Pacific chief economist, says "it is a region that is still outperforming the rest of the world, but it is underachieving relative to its own potential."

Persons: Aaditya Mattoo Organizations: World Bank Locations: East Asia, Pacific

☆ East Asia's growth is faster than the rest of the world but China headwinds weigh, World Bank says
▼ + stars: | 2024-04-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

As inflation continues to impact global economies, Asia-Pacific is the only region that will see real salary growth in 2023, according to ECA International. Growth in developing East Asia and Pacific is outpacing the rest of the world, but the region will likely see slower growth in 2024 amid headwinds in China and broader policy uncertainty, according to the World Bank. "It is a region that is still outperforming the rest of the world, but it is underachieving relative to its own potential," Aaditya Mattoo, East Asia and Pacific chief economist at the World Bank, told CNBC's "Street Signs Asia" on Monday. Growth in the region is expected to ease to 4.5% this year, slowing from last year's 5.1% expansion, according to the bank's East Asia and Pacific (EAP) update for 2024, which was released Monday. However, excluding China, growth in the region is predicted to reach 4.6% this year — higher than 4.4% in 2023.

Persons: CNBC's Organizations: ECA International, World Bank Locations: Asia, Pacific, East Asia, headwinds, China

☆ Breakingviews: Globalization woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Over the past seven decades, the world economy has grown 14-fold, powered by a 45-fold expansion in global trade, according to the World Trade Organization. World trade as a percentage of GDP peaked at 61% in 2008. The first is rising geopolitical tensions between the United States and China. The retrenchment is probably going to be gradual: global trade was still worth 57% of world GDP last year. For 2024, the WTO said growth in goods trade would pick up to 3.3%, virtually unchanged from its April estimate of 3.2%.

Persons: Chris Helgren, Joe Biden, Xi Jinping “, ”, Caroline Freund, Aaditya Mattoo, Alen Mulabdic, Michele Ruta, Ursula von der Leyen, it’s, Laura Alfaro, Davin Chor, Dario Perkins, GlobalData’s Perkins, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Warehouse Union, REUTERS, Reuters, World Trade Organization, Economic, Reuters Graphics Reuters, HK, Amperex Technology, European Central Bank, GlobalData, Lombard, Companies, Bureau of Labor Statistics, ECB, Thomson Locations: Vancouver , British Columbia, Canada, Netherlands, United States, China, Beijing, Washington, U.S, Taiwan, Mexico, Vietnam, People’s Republic, Latin America, Chile, Brazil, Ukraine, Geneva

☆ Globalisation woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

☆ World Bank economist discusses pandemic recovery progress and outlook for Asian economies
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWorld Bank economist discusses pandemic recovery progress and outlook for Asian economiesAaditya Mattoo, World Bank's Chief Economist of the East Asia and Pacific Region, sees economic growth in Asia ex-China "edging up" in 2024.

Organizations: World Bank, East Locations: East Asia, Pacific Region, Asia, China

☆ Kashmir's traditional Ramadan drummers wake neighbours up for pre-dawn meals
▼ + stars: | 2023-04-20 | by ( Fayaz Bukhari | ) www.reuters.com time to read: +3 min

Devout Muslims fast from dawn to dusk during Ramadan, and usually eat a meal before the sun comes up. Jinded says his family has been playing the role of "Sahar Khans", named for the pre-dawn Ramadan meal called Sahri, for generations. Kashmir's Ramadan drummers are not paid, but as the month nears its end, people tend to become generous. "Ramadan drummers are an important part of our tradition," said Sheikh Ghulam Nabi, a tailor in Srinagar's old town. "They add to the festive atmosphere of the holy month."

☆ China's recovery isn't 'full-blooded' but it's significant, World Bank says
▼ + stars: | 2023-03-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's recovery isn't 'full-blooded' but it's significant, World Bank saysAaditya Mattoo of the international financial institution says 2022 was "the hard year" for China, which is now seeing a "significant bounce back."

☆ World Bank raises growth forecast for East Asia, says banking sector is sound despite global stress
▼ + stars: | 2023-03-31 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

The World Bank said "the most immediate challenge" for the region is the growing division between the U.S. and China. The East Asia and Pacific region grew by 3.5% in 2022, it said. As for China's economy, the World Bank raised its full-year growth forecasts for 2023 from 4.5% to 5.1%. "Publicly available indicators show adequate overall capital levels and low non-performing loans for most countries in the region," the World Bank said. "Financial sector health is so far sound in East Asia Pacific."

☆ India stops journalist from flying to U.S. to receive Pulitzer Prize
▼ + stars: | 2022-10-20 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

NEW DELHI — A Pulitzer Prize-winning Kashmiri photojournalist said Wednesday that Indian immigration authorities prevented her from flying to the United States to receive the award even though she had a valid visa and ticket. Sanna Irshad Mattoo was scheduled to fly to New York on Monday to receive the Pulitzer Prize but was blocked by officials at New Delhi’s airport, she said. Saqib Majeed / SOPA Images/Sipa USA via AP fileMattoo was working on assignment for Reuters, which won the 2022 Pulitzer Prize for Feature Photography for coverage of the Covid-19 crisis in India. Journalists have long braved threats in the restive region as the Indian government seeks to tighten control over the media. Their situation has grown worse since India revoked the region’s semi-autonomy in 2019, with dozens arrested, interrogated and investigated under harsh anti-terror laws.

☆ India stops Pulitzer-winning journalist from travelling to US
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Oct 19 (Reuters) - Indian authorities have stopped a photojournalist from boarding a flight to the United States, where she had planned to attend a ceremony to receive a Pulitzer Prize. Mattoo, who holds an Indian passport, said she was stopped at immigration at New Delhi airport on Monday night and prevented from travelling to the United States despite holding a valid visa and a ticket. Register now for FREE unlimited access to Reuters.com Register"Being able to attend the award ceremony was a once in a lifetime opportunity for me," Mattoo said on Twitter on Tuesday. The Himalayan region is claimed in full by both India and neighbouring Pakistan, but both countries only control parts of it. Register now for FREE unlimited access to Reuters.com RegisterReporting by Devjyot Ghoshal; Editing by Sanjeev Miglani and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ World Bank cuts 2022 East Asia growth outlook, cites China slowdown
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/MANILA, Sept 27 (Reuters) - Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China's slowdown, but the pace of expansion will pick up next year, the World Bank said on Tuesday. "As they prepare for slowing global growth, countries should address domestic policy distortions that are an impediment to longer term development," World Bank East Asia and Pacific Vice President Manuela Ferro in a statement. These have caused capital outflows and currency depreciations, the World Bank said. "Controls and subsidies muddy price signals and hurt productivity," World Bank East Asia and Pacific Economist Aaditya Mattoo, said in a statement.

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