High Debt and Interest Rates; China’s Q1 Growth

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High Debt and Interest Rates. China’s Q1 GDP Growth

Erik Norland, Senior Economist, CME Group

Budget Deficits and Public Debt

  • Middle-income nations cut rates to complement fiscal spending.
  • Rich nations where rates were low relied on government spending.
  • Further fiscal spending to mitigate pandemic depends on interest rates.
  • Course of budget deficit, debt levels depend on interest rates.
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China’s Growth Bouncing Back?

  • ​​​​​China’s economy grew 18.3% in Q1, up from 6.8% slump a year ago.
  • China has shown 5% compounded growth rates since Q1 2019.
  • Manufacturing sector outperformed amid strong US demand.
  • China’s domestic air travel has not fully recovered from pandemic.
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