China reported an increase in Foreign direct investment for the first half of the year expanded 17.4% year on year, according to its Ministry of Commerce.
All eyes are on Asia as both US and Europe could see a technical recession as the economy in these large continents entered negative territory for the first time. The US economy shrank for the second consecutive quarter, meeting the textbook definition of recession, but the job market and other economic data remain healthy. Gross domestic product, which refers to the value of all produced goods and services, shrank by 0.9 percent at an annualized rate in the April-June quarter, according to data from the Commerce Department. The drop came on the heels of last quarter’s 1.6 percent decline.
In Asia, markets have been on the uptick with inflation at a relatively lower rate compared to US and Europe, China maintains its growth prospects and has been incorporating measures for its economy to regain footing.
