Japan economy powers ahead as China wobbles
Monday 01 July 2013
Asia’s manufacturing titans were subject to contrasting fortunes today: Japan’s biggest firms were buoyed by rising optimism but China was hit by a credit squeeze and falling orders.
Japan’s closely watched Tankan survey offered more signs that prime minister Shinzo Abe’s programme of monetary stimulus and public spending are boosting the economy, although he faces more of a battle to push through the so-called “third arrow” of reforms economic reforms.
Business sentiment among major Japanese manufacturers turned positive for the first time in nearly two years. But Berenberg Bank’s chief UK economist Rob Wood said: “Abe needs to make sure the third arrow — structural reform — flies straight and true.”
China’s wobbles continued as firms were hit by a shortage of credit and slowing orders from the West. New export orders suffered their sharpest decline in nine months, HSBC said. Forecasters warn the squeeze could send Chinese growth below 7% in the coming quarters — its weakest performance since the Nineties.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
iJobs Money & Business
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £25000 per annum + OTE £35000: SThree: SThree are a global FTSE 250 b...