Global economy disrupted by U.S. Fed rate hikes, experts say

STORY: Global economy disrupted by U.S. Fed rate hikes, experts say DATELINE: Oct. 3, 2022 LENGTH: 0:03:07 LOCATION: Beijing CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. SOUNDBITE 1 (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist 2. SOUNDBITE 2 (Arabic): KHALED EL SHAFEI, Egyptian economic expert and professor at the Faculty of Commerce at Cairo University 3. SOUNDBITE 3 (Turkish): MUSTAFA SONMEZ, Economist and writer in Türkiye STORYLINE: The U.S. Federal Reserve (Fed) raised the interest rate by 75-basis-point three times so far this year as the U.S. seeks to rein in inflation. Economists say that the U.S. tight monetary policy has resulted in more social and economic risks, particularly for developing countries and emerging markets. SOUNDBITE 1 (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist "I think the (U.S.) Fed's response to higher inflation in the United States in terms of faster than expected tightening of monetary policy and increases in intere

Fed's response to higher inflation in U.S. put pressure on developing countries: economist

STORY: Fed's response to higher inflation in U.S. put pressure on developing countries: economist DATELINE: Sept. 29, 2022 LENGTH: 00:01:59 LOCATION: Washington D.C. CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of street view of East Asia countries 2. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist STORYLINE: The World Bank said Monday that the developing East Asia and Pacific (EAP) region is projected to grow by 3.2 percent this year. According to the World Bank's newly released East Asia and Pacific Economic Update, the region's growth is projected to slow this year from 7.2 percent in 2021, before accelerating to 4.6 percent next year. The report noted that rising inflation abroad has provoked interest rate increases, which in turn have caused capital outflows and currency depreciations in some East Asia and Pacific countries. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist "I think the (U.S.) Fed's response to higher i

GLOBALink | Chinese economy wins global vote of confidence

STORY: Chinese economy wins global vote of confidence DATELINE: June 18, 2022 LENGTH: 0:01:43 LOCATION: Beijing CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. SOUNDBITE 1 (English): KRISTALINA GEORGIEVA, IMF Managing Director 2. SOUNDBITE 2 (English): ANEEL SALMAN, Economist at Comsats University Islamabad 3. SOUNDBITE 3 (English): BORGE BRENDE, World Economic Forum President 4. SOUNDBITE 4 (Chinese): JERRY ZHANG, Chief executive officer, Standard Chartered Bank (China) 5. SOUNDBITE 5 (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist STORYLINE: A series of recently-released economic barometers indicate that the Chinese economy has bounced back after having weathered shocks of the latest COVID-19 resurgence, revealing resilience and certainty in the still faltering global recovery. China's foreign trade rebounded in May. Its total imports and exports went up 9.6 percent year on year to 3.45 trillion yuan (510 billion U.S. dollars) last month on top of April's 0.1-percent expansion. As C

China's growth, stability serve as regional public goods: World Bank economist

STORY: China's growth, stability serve as regional public goods: World Bank economist DATELINE: May 22, 2022 LENGTH: 0:01:55 LOCATION: Bangkok CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of China's economic growth 2. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist STORYLINE: A World Bank economist has said China's economic growth and stability have become public goods for the East Asia and Pacific region, providing stability and support to the region. SOUNDBITE 1 (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist "China has become more and more important for this region. In several countries, about one-tenth of value-added or more, in Lao PDR, in Malaysia, in Thailand, in Vietnam, is absorbed in China. So what happens in China matters for the whole region and China's stability and growth, it's like a public good for the region. It has provided stability and support." Despite downside risks, including the Russia-Ukraine conflict, COVID-19