Network News

X My Profile
View More Activity





Morning briefing: Japan unveils new stimulus, reports higher GDP growth

dubai.jpg

The Burj Dubai Tower, the tallest tower in the world, on the day of its inauguration, pm January 4, 2010. It was started at the height of the economic boom before the economy of the United Arab Emirates ran into trouble like the rest of the world's.

(Photo Credit: Ahmed Jadallah/Reuters)

1. Japan unveiled a new $11 billion stimulus package and reported that its economy expanded faster than economists had expected. The country's GDP grew at an annualized rate of 1.5 percent in April through June. A preliminary report had estimated a meager 0.4 percent growth.

2. China reported that its August trade surplus hit $20 billion, the second highest this year. The consistently high surplus will be bolster the arguments of some Washington lawmakers who are calling for increased pressure on China to ease controls on its currency that they say keep it undervalued and give Chinese exporters an unfair advantage. Hearings are scheduled to be held on this subject on Capitol Hill this month.

3. India's industrial output grew 13.8 percent, far more than expected.

4. Dubai World finalized the restructuring of $24.9 billion worth of debt. The UAE's investment arm sent fears across global markets last November when it said it would delay interest payments on debt it owed.

5. Japanese Finance Minister Yoshihiko Noda is raising questions about the quick pace at which China is buying Japanese government bonds. China purchased $27 billion's worth of Japanese bonds this year, which is six times what it bought in the past five years together.

By Ariana Eunjung Cha  |  September 10, 2010; 6:00 AM ET
Categories:  *Morning briefing  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Economic agenda: Friday, Sept. 10, 2010
Next: Austan Goolsbee: Triathlete, improv comedian, economist

Comments

This tower is now called the Burj Khalifa, not the Burj Dubai.

Posted by: Factaaa | September 10, 2010 5:51 PM | Report abuse

Post a Comment

We encourage users to analyze, comment on and even challenge washingtonpost.com's articles, blogs, reviews and multimedia features.

User reviews and comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions.




characters remaining

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company