India, China leading global economic recovery

[OhioChick]

Source: ZeeNews.com

Thursday, September 03, 2009, 21:14 IST

New Delhi: Boosted by good growth in India and China, the world economy is starting to recover from the one of the worst financial crisis in decades, says Moody's.

Despite the global slowdown, two of the world's fastest growing economies -- India and China -- have witnessed growth. For the April-June quarter, the Chinese GDP expanded by 7.9 per cent while that of India grew 6.1 per cent.

"The world economy is starting to recover thanks to renewed growth in China and India," Moodys' Economy.com, which is part of Moody's, said in a report.

The US economy mired in recession since December 2007, is seeing signs of recovery and in the second quarter of this year, its GDP shrank much less than expected at 1 per cent.

Apart from Asia, economies in the European, North American and Latin American regions are also bottoming out.


Read more: http://www.zeenews.com/news560669.html

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Maybe because U.S. blue collar jobs are going to China and U.S. white collar to India.

[ChromeFoundry]

1. no shit headline....

Wonder if citizens of both countries will now buy all of those products?

Probably not.

[InfiniteThoughts]

2. the indian growth story ...

the indian growth is not coming from it's white collar jobs that has seen pay cuts ..

the indian growth is coming from 2 places: (1) renewed blue collar jobs esp. in infrastructure and it's upstream areas (2) India had a bumper Winter crop (last Nov thru March), we are still seeing the ripple effects of that. the SW monsoon (june-Sep) has been dismal and i expect to see a dampner coming in towards the last quarter of the year.

nevertheless, India is growing because it has such a small base & needs to catch up on basic economic parameters (that itself is a 5% YoY GDP growth factor!)

[fujiyama]

3. Interesting analysis

Do you have a link?

Or maybe it's in the article. I haven't read it yet...

[pampango]

4. Didn't come from the linked article, but it doesn't fit the "Any good economic news

in India or China has to be linked directly to American hardship (zero-sum game). It can't be credited to Indians and Chinese working hard and running their economies better than in the past".

[treestar]

7. The two most populous countries on Earth

With the U.S. coming a rather distant third.

But hey, they have to stay poor or we can't rule the world! :sarcasm:

[Deja Q]

10. I'd rather see standards for ALL improve.

And if globalization were real, other countries would be growing - without the expense of the US and others shrinking in the process. :think:

[treestar]

14. I just don't see how the U.S. has some "right" for other countries

not to prosper.

And it is silly to think that China and India will understand this moral duty to stay poor so we can be no. 1.

Let them do the best they can and so can we.

And it is not true that we don't make anything. We just don't make everything.

[robcon]

5. There seems to be a turnaround almost everywhere but the U.S. and Mexico.

I don't know why.

Recession over, Bank of Canada says

The recession is over, the Bank of Canada said in its quarterly Monetary Policy Report released Thursday.

After shrinking since the last quarter of 2008, the Canadian economy will grow by an annualized rate of 1.3 per cent in the current quarter, the bank said.
http://www.cbc.ca/money/story/2009/07/23/bank-canada-economy-recovery.html

[treestar]

6. This can only be good

World population statistics

http://en.wikipedia.org/wiki/List_of_countries_by_population


Those two countries recovering helps the rest

[Deja Q]

8. If you're wrong, can we garnish YOUR wages?

[Deja Q]

9. BTW: Never use population as an argument. Somebody might mention the Duggars.

[treestar]

13. I've heard before that the California economy is the sixth largest in the

world. Accordingly, when it suffers, the entire U.S. does.

[Hosnon]

11. It's always a shock to me to see how small some countries are.

My home state (Georgia) has more people than Israel, Finland, Denmark, Norway, Austria, and Switzerland (just to name a few).

[treestar]

12. Texas has more people than Australia does

Found that interesting.