Despite signs of an improvement for the U.S. economy, Steve Forbes, Chairman of Forbes Media says the recovery isn’t as vigorous as it should be and claims there’s a lot of disbelief about the turnaround.
Latest data out of China shows factory activity shrinking for the fifth consecutive month in March, heightening concerns that this could be the turning point for Australia's resource plays and currency as chances increase of a protracted slowdown in the world’s largest consumer of commodities.
A slowdown in China’s growth engine is good news for the country because it gives Beijing space to create a new economic model that is more sustainable and equitable, according to Zhu Min, deputy managing director of the International Monetary Fund.
China needs to allow the value of its currency to appreciate but its financial regulators should do so at a pace that will not hurt its economy, according to Pascal Lamy, Director-General of World Trade Organization.
Caterpillar, the world’s largest heavy machinery maker, will have another record year in 2012, says its Chairman and CEO Douglas Oberhelman.