China: China Sets Growth Target Of 7.5%
According to the BBC News, China has set its economic growth target for the year at 7.5%, as it looks to continue its efforts to stabilize the economy. In addition, the inflation goal was set at 3.5%. The decision comes amid the recent deceleration seen in manufacturing, although the new growth target is just a tad below the 7.7% expansion that the economy tallied in 2013.
United States: Obama Budget Sets Up Election-year Clash With Republicans
Reuters reports that President Barack Obama proposed new tax credits and job-training programs for workers in a 2015 budget that faced criticisms from the Republicans. Obama also announced that the USD 3.9 trillion blueprint for the fiscal year that begins on 1 October also would boost spending on roads and bridges and expand early-childhood education and scaling back tax breaks for wealthier Americans.
Chile: Outgoing Chile Finance Minister Warns On Bachelet Tax Reforms
Outgoing Chilean Finance Minister Felipe Larrain has warned that the tax reforms pledged by Michelle Bachelet upon her return to the presidency on 11 March will negatively impact investment levels and threaten economy stability.
Asean: Asean Overtakes China In FDI
Beyondbrics by FT reports that the Asean-5 received more in foreign direct investment last year than China, suggesting that global investors are increasingly looking south when putting capital to work in Asia.
Turkey: Turkey’s Erdogan Goes On Offensive Over Corruption Allegations
According to The Guardian, Prime Minister Recep Tayyip Erdogan has warned those responsible for recordings purported power abuses that will pay the price for betrayal.