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Prospects Daily: Australia and Uganda cut policy rate, Brazil’s industrial production accelerates

Financial Markets… The euro rose to a six-week high against the dollar, appreciating to $1.3077, and Europe’s benchmark stock index (Stoxx Europe 600) gained for a second day, as growing optimism over a successful Greek buyback program boosted investor sentiment. Greece started the €10 billion ($13 billion) repurchase of government bonds maturing between 2023 and 2042 on Monday.

Jim Yong Kim Visits Quake Reconstruction Sites in China’s Sichuan Province

YUNXI TOWN, Yantang County, China—More than three years after a devastating earthquake hit Sichuan Province, World Bank Group President Jim Yong Kim toured four reconstruction sites, including stops that looked at road construction, a maternal and child health center, and an economic development zone.

After talking to several villagers in Yunxi's town square, during which Kim asked residents about the earthquake and its aftermath, Kim gives his impressions from the trip in the video below.

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President Kim on High-Level Talks with Chinese Leaders

BEIJING -- On his first trip to China as World Bank Group president, Jim Yong Kim met with several senior leaders in the government, including Vice Premier Li Keqiang. In the meeting with the vice premier, the two, at Li Keqiang's suggestion, agreed to embark on a joint China-World Bank study on how developing countries can best prepare for the continuing massive movement of people into cities.
 
Details around the urbanization study have yet to be finalized, but the two leaders said it could be part of the new China-World Bank delivery knowledge hub, which was officially established Tuesday, Nov. 27 to initially examine issues around urban transportation.
 
In the video below, Kim talks about his first round of meetings with Chinese leaders.

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Prospects Daily: Japan’s GDP contracts at annualized 3.5% (q/q) in third quarter

Financial Markets…Global stock markets fluctuated between gains and losses, following three consecutive days of losses last week, as strong Chinese exports data in October offset worries over a prospect of the so-called U.S. fiscal cliff and Greek woes. The benchmark MSCI global equity index just slipped 0.04% in afternoon trading.

Prospects Weekly: Private capital flows to developing countries eased in October

Private capital flows to developing countries eased in October, but remain close to their highest level in more than a year, led by robust bond issuance by emerging market sovereigns and firms. Business sentiment has strengthened in some countries, including the US and several emerging markets, but remains weak in general amid US “fiscal cliff” and Euro Area risks.

Prospects Daily: Year-to-date global corporate bond sales rose to $3.43 trillion

Financial Markets…Year-to-date global corporate bond sales rose to $3.43 trillion, already surpassing 2011’s full year total of $3.29 trillion, as further stimulus from global central banks pushed yields to record lows. Funding costs for the riskiest to the most creditworthy corporates are plunging as the persistent low-yield environment spurred unprecedented investor demand.

How do Emerging Economies Achieve Economic Growth While Keeping Carbon Emissions Low?

Nicholas Keyes's picture

Brazil, China, India, Indonesia, Mexico, Poland and South Africa are among the world’s largest emerging economies. And in the past five years, all have made substantive shifts towards lower-carbon growth strategies – shifts that are still underway. In 2007, these countries represented 33 percent of global CO2 emissions. By 2010, three of them – Brazil, China and India – accounted for over 40 percent of global investment in renewable energy.  

China visits Morocco, Egypt & finds the light of the future

Yanqin Song's picture

        World Bank

Managing energy demand in a country like China, where millions of businesses and households rely on a steady supply, is definitely one of China’s greatest challenges. The thorny question is how can the country find a sustainable way to provide reliable sources of energy to such a huge and demanding market? Well, answers are starting to appear on the horizon, or rather, in the sky.

Prospects Weekly: Latest bout of G3 monetary stimulus is likely to increase capital flows to developing countries

The latest bout of G3 monetary stimulus is likely to increase capital flows to developing countries, but may be limited by lingering economic uncertainty, and lower interest rate spreads. Notwithstanding the recent easing of financial market tensions, the anticipated rebound in real-side activity is lagging behind.


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