series of spring meetings with the world bank in washington this week stop it is also downgraded its overgrowth forecast for this year and exciting weaker performances in some leijer economies. our business reporter has been looking into this story for us and joins us now. always go to get you on the show. you have been sifting through the report, what are the projections?- report, what are the projections? they are predicting projections? they are predicting that - projections? they are i predicting that economic projections? they are predicting that economic growth this year maybe to next year 3%, that is a downgrade on what they had said injanuary about one tenth of a percentage point, in the medium term they have given the weakest forecast in more than 30 years. they say there is potentially a perilous combination of factors and that those far as could lead to economic crisis and they are calling there for for central bank around the world to keep tight monetary polic
meetings with a washington this week. it also downgraded its global growth this year and deciding weaker than some academies for the pages been looking to this for the great to see you on this show. what have we heard to see you on this show. what have we heard from to see you on this show. what have we heard from the - to see you on this show. what have we heard from the irs i to see you on this show. “grief have we heard from the irs goes back they said their apparel is buying abilities that is for economic growth. it said it could lead to economic crisis as a result their calling on central banks around the world to keep tight monetary policy and that means you maintain high interest rates they say they ve actually given their they“ve actually given their forecast for the year and next. they loaded by about one tenth of a percentage point so about 2.8% global growth this year, 3% next year. that is determined on a number of factors and they say if things go sour or
outlook for china s economy? first and foremost, confidence. i mean, they have the excess savings, they have been keeping them for three years with zero covid policies, but they are not confident about the future and that is dragging down both housing purchases, which are still very, very stagnant, and of course anything that is a consumer durable, such as a car, for example. so that is dragging down more than confidence. dragging down more than confidence. ~ , , confidence. absolutely. and if this is for confidence. absolutely. and if this is for the confidence. absolutely. and if this is for the global confidence. absolutely. and if this is for the global economic outlook is as dire as we are hearing from the imf, in the past china has been that saver, so to speak, it has been the thing that boost the global economy, can we depend on china s growth this time around? china s growth this time around? ~ , ., ., around? we should not. and i thinkthis around? we should not.
confident about the future. that“s dragging down both housing purchases, which are still very stagnant. and of course anything that is consumer durable such as a car. that is dragging down consumption more than anything, competence. consumption more than anything, competence- competence. often when i speak with the economists competence. often when i speak with the economists who - competence. often when i speak with the economists who are - with the economists who are perhaps a bit more bullish on china they talk about the fact that there s a huge savings pool there, people have been stalking money away because of the pandemic and they are just waiting to spend it because now the time is right. is that what you are seeing in the data? hat you are seeing in the data? not et. for you are seeing in the data? iirrt yet. for consumers to splash their extra savings they need to be confident about what they are seeing in the future. that is what we are lacking. more than that, i think t
The real estate market in Hanoi is gradually recovering and may see a lot of development prospects in the time to come, according to analysts from property consultation company Savills Vietnam.