Ireland: Second Time Lucky for Ireland’s Credit Rating?
Ireland is hoping for a second credit rating hike from Moody’s this year as recent data continue to paint a positive picture for the economy. (Source: CNBC)
Europe: Recovery Stalls in Europe as Austerity Grinds On
With the economic recovery stalling in many European countries, analysts at different banks and think-tanks are predicting more troubles ahead unless the ECB launches a significant stimulus program. (Source: The Telegraph)
China: Is China Really More Economically Powerful than the United States?
Michael Levi recalls that a couple weeks ago the World Bank reported that the Chinese economy would surpass the U.S. by the end of this year. Levi notes that this report caused “breathless headlines from normally sober observers”, but argues that the Chinese economy is not as strong as some think. (Source: Economonitor)
Japan: Today’s Good News From Japan Is Terrible
Yesterday, Japan released GDP figures for Q1, which were better than expected. However, William Pesek writes in Bloomberg View that markets should consider that when a government raises sales taxes in a deflation-wracked economy for the first time in 17 years, you’re going to get a surge in anticipatory shopping. Therein lies the explanation to the 5.9 percent jump in gross domestic product in the first quarter. However, the author continues saying that markets should have paid attention to Haruhiko Kuroda’s comments after the data were released: The urgency to increase Japan’s growth is increasing. (Source: Bloomberg)
India: Modi Wins Election with a Landslide, Early Results Show
Opposition candidate Narendra Modi will be the next prime minister of India, with counting trends showing the pro-business Hindu nationalist and his party headed for the most resounding election victory the country has seen in thirty years. (Source: Reuters India)