Europeans

World Economy: China Must Slow Growth

It's a delicate task.

"Nobody can say with any confidence" if they'll succeed, says Barry Eichengreen, an economics professor at the University of California, Berkeley.

China's explosive growth remains the envy of developed nations like the United States. It grew faster than any other major economy in the April-June quarter, according to The Associated Press' latest quarterly Global Economy Tracker. Only Argentina's much smaller economy matched China's 9.5 percent annual growth rate.

By contrast, the U.S. economy grew at a 1.3 percent rate in the April-June quarter, before expanding 2.5 percent in the July-September period.

The AP's Global Economy Tracker monitors economic and financial data in 30 countries representing more than 80 percent of global output.

Economists worry that China's economy could suffer what they call a "hard landing." They fear that a sudden plunge in China's growth would harm the economies of the United States, Europe and small countries that need China to buy their coal, copper and other raw materials.

Source: TIME

Car Modification and Accessories » Rental cars in Bremen, Germany

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Germany refuses to rethink Greek bailout – European debt crisis live ...

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My colleagues Phillip Inman , Mark Tran and Laura Oliver are holding a live Q&A to discuss this week’s G20 meeting in Cannes . The topics have been chosen by you, the readers — including the need for “more regulation to restrict the activities of banks” , calls for a new Financial Transaction Tax , and the structure of the G20 itself.

It’s just starting now, so do pop over and have your say ( and come back when its over German foreign minister Guido Westerwelle has rejected the notion that the debt deal agreed in Brussels last week could be renegotiated to give Greece more generous terms.

Speaking in Istanbul (where he was attending an international conference on the future of Afghanistan), Westerwelle said Germany was still committed to helping Greece through the crisis, but would not ease the country’s obligations.