Farmers need support to expand fruit production Dragon fruits is a key produce in Chau Thanh District, Long An Province. — Photo dangcongsan.vn Fruit is a key produce of provinces around the Mekong Delta. However, small-scale production and poor links from production to purchase, from process to export, are hindering the development of orchards, attendees heard at a workshop held yesterday in the Mekong Delta province of Long An. According to the Ministry of Agriculture and Rural Development, the southern provinces have an area of 596,330ha of fruit trees, accounting for 60 per cent of orchards nationwide. Their annual productivity has reached over 6.6 million tonnes, accounting for 67 per cent of the country. Productivity has risen 61 per cent against that of 2010. Due to scattered production, it is difficult for investors to pour capital into developing infrastructure, setting up links in production and controlling product quality. There are 71 fruit processing … [Read more...] about BUSINESS NEWS IN BRIEF 17/3
U s inflation rate history
Powell sets Fed's course with data-based judgementThe Saigon Times Daily Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on the “Semiannual Monetary Policy Report to Congress," at the Rayburn House Office Building in Washington, U.S., July 18, 2018 – PHOTO: REUTERS JACKSON HOLE (REUTERS) - Federal Reserve Chair Jerome Powell has begun putting his stamp on the U.S. central bank as someone who will rely more on data-informed judgement and less on some of the models and theoretical values that have shaped the Fed’s course in recent years but that Powell has said can be false guides. In doing so he may be laying the groundwork for a longer-than-expected rate-increase cycle, as discussion intensifies among policymakers about what level of borrowing costs is appropriate in an economy that is nearly back to full health. In addition, the full stimulative effects of President Donald Trump’s tax cuts and … [Read more...] about Powell sets Fed’s course with data-based judgement
Even in Asia, where gains in wealth have been unparalleled, policymakers are finding it harder and harder to improve the welfare of the common man. Nelson Ching / Bloomberg via Getty Images Pedestrians cross an intersection during the morning commute in the central business district of Beijing, China, on May 28, 2012 As the West struggles to recover from the 2008 financial crisis, it is only natural that many have looked to Asia with envy. While Americans contend with a housing bust and joblessness, and Europeans suffer through their debt crisis, much of Asia (except Japan) seems to gain economic power, wealth and competitiveness year after year. The East looks like it is eating the West’s lunch. Much of that storyline is true. The rise of Asia is the single most important economic trend of the past half century. But at the same time, looks can be deceiving. Asia has its own share of economic troubles, which threaten to derail its heralded economic miracle. We can see … [Read more...] about Defying gravity: Is Asia’s economic miracle about to stall?
Illustrative image - Source: AFP/VNA Around 59 percent of economists said the current U.S. economic expansion was most likely to end in 2020, while 22 percent predicted the next recession would arrive in 2021, the survey showed. As for the most likely primary cause of the next recession, 62 percent of economists said the Federal Reserve raised interest rates to cool off an overheating economy. Other reasons selected by economists surveyed were a financial crisis, the bursting of an asset bubble, a fiscal crisis or disruptions to international trade. While it's difficult to predict the specific timing of the next recession, the economic expansion will not last forever. The current economic expansion began in mid-2009 after a recession caused by the 2008 global financial crisis. It has become the second-longest economic expansion in American history. Some Fed officials are worried that the added stimulus from 1.5-trillion-U.S. dollar tax cuts, approved by U.S. Congress last year, … [Read more...] about Economists see next U.S. economic recession in 2020
The IMF, in its annual review of the American economy, questioned the White House's plan to accelerate output and said it was skeptical the administration would be able rev up the world's largest growth engine to a sustained 3% annual rate. Instead, the fund forecasts the growth rate will steadily fall over the next five years to around 1.7%, assuming no major policy changes. In April, the IMF said President Donald Trump's tax-overhaul plans and spending stimulus could goose the growth rate to 2.5% next year, up from 2.3% this year. But after talks with administration officials amid still-evolving policy plans, the fund says it can no longer factor such fiscal stimulus into its forecasts. The IMF now says the economy will expand by 2.1% this year and next. Initial optimism about the administration's ability to get a tax revamp and infrastructure spending has faded in the face of mounting political hurdles. Meanwhile, buoyant stock prices, one of the longest expansions in U.S. history … [Read more...] about IMF lowers forecast for U.S. economy amid rising policy uncertainty