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China GDP continues to decelerate, with a growth forecast of 6.6 per cent for 2017, as it transitions from an export and investment based economy to one based on domestic consumption, the International Monetary Fund IMF said on Tuesday. In its latest report on the Asia-Pacific, the IMF
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said that despite its own growth slowing amid economic transition, China continues to drive global growth, Efe news reported.According to the IMF data, China GDP grew by 7.3 per cent in 2014, 6.9 per cent in 2015 and 6.7 per cent in 2016, while growth projections for 2017 and 2018 are 6.6 per cent and 6.2 per cent respectively. 8
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220;This slowdown is predicated on a cooling housing market, partly reflecting recent tightening measures, weaker wage and consumption growth, and a stable fiscal deficit, it said.IMF experts believe the transition will have negative effects in the short term for most exporting countries, such as South Korea and Malaysia, but in the long term will be beneficial, especially for the import of consumer goods and services, as well a
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s tourism.The slowdown in large investments and exports in China, which currently imports 40 per cent of metals and 10 per cent of the world oil, will affect raw material prices, according to the report. China Consumer Price Index grew by 2 percent in 2016 and the forecast for 2017 and 2018 is 2.4 per cent and 2.3 per cent respectively.The IMF warned of some risks to the Chinese economy such as the agein Wvxj US asks Qatar to cut ties with Hamas after it rejects hostage deal
The second day of the Forum Solarpraxis kicked off with talks from some European market stalwarts from, among others, Spain, Italy, Turkey and Saudi Arabia. Franco Valentini of Elettronica Santerno SpA summed up a motif of the day聮s discussions by saying that further development of the Italian photovoltaic industry is not a technical, but a political issue. We worked too hard at realising photovoltaic plants this year, he said, getting laughs from the audience when he explained how the Italian government inadvertently created a boom after deciding that the extremely favourable 2.3 gigawatt peak GWp tariff applied to plants whether they are connected to the grid or not.According to his presentation, Italy is set to reach its upper limit of 聙6 billion investment by the end of 2011, not 2016 as predicted, but he was careful to explain the favourable conditions that photovoltaics presents during the forthcoming period of renegotiation. We won聮t have sev
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en GW again in 2012, we hope to have three GW, but it聮s a political decision, he added.David Per茅z of eclareon continued the trend of talking politics, explaining that much of the reason for the fluctuating regulations influencing the Sp
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anish photovoltaic industry comes from lobbyis
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ts, primarily from the natural gas industry. Due to the government setting annual production limits on Spanish plants for the 2011-2013 period, many investors lost trust in Spain, so many people have come up to
