Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Jan. 13 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- China reported on Friday its imports fell 7.5 per cent and its exports dropped 9.9 per cent in December. That compares to November, when China’s its imports pulled back 10.6 per cent and its exports were down 8.7 per cent. The declines for the world’s second largest economy pointed to financial woes not only for China but also the rest of the world. The country’s super-strict ‘zero-COVID’ restrictions over the last three years were said the main reason for the reductions. Recently, China ended those restrictions.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- The managing director for the International Monetary Fund (IMF), Kristalina Georgieva, stated on Friday that the organization doesn’t expect to cut its forecast for global economic growth in 2023. While Georgieva said 2023 will be a tough year, the IMF is sticking with its projection of 2.7 per cent growth. She added that the world’s sagging economy should begin turning around by the end of this year or in early 2024. However, Georgieva didn’t rule out mild recessions for countries such as the United States.
- Scandal continued to build around U.S. President Joe Biden this week after the discovery of classified documents in his possession at two locations. The documents in question are from when Biden was Vice-President, of which some were found in the garage at his Wilmington, Del. residence. In November, documents were discovered at the Biden Center for Diplomacy and Global Engagement at the University of Pennsylvania, but that wasn’t made public for two months. Republicans accused the president of a double standard as former President Donald Trump had numerous top-secret documents at his Mar-a-Lago home in Florida. The U.S. Attorney General ordered an investigation into documents in Biden’s possession.
