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Eurasia
24/12/2023 07:00
China has space to step up support for the economy, given that its central government debt burden is relatively low and consumer prices are also low, Wang said.
China's consumer prices fell at the fastest rate in three years in November.
Wang said China may be able to cut interest rates as the Federal Reserve has likely stopped raising its own rates, although a wide interest rate gap between the two countries and worries about the impact on banks could act as constraints.
At the annual Central Economic Work conference held from Dec 11-12, Chinese leaders pledged to adjust policy to support an economic recovery in 2024.
China's growth is expected to hit the government's target of around 5 per cent this year.
Mongolia has reached a critical juncture and is undergoing a process of foreign policy modernization. The burgeoning relations between Ulaanbaatar and Central Asian states signifies a strategic initiative aimed at balancing its partnerships with Russia and China. Since 2020, Mongolia has augmented its diplomatic activities with Central Asian countries, as evidenced by the Mongolian President's visit to Uzbekistan and Kazakhstan in 2024. Notwithstanding the prevailing positive development dynamics, economic relations between Mongolia and Central Asia remain modest but growing, particularly in trade with Kazakhstan, Kyrgyzstan, and Uzbekistan, where exports have increased significantly.
Sri Lanka is the only country in the Asia region currently engaged in discussions with US officials to renegotiate tariffs imposed under US President Donald Trump’s administration, according to deputy economic minister.
China confirmed on Friday details on the framework of a trade deal with the United States, saying Washington would lift "restrictive measures" while Beijing would review and approve items under export controls.