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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (4241)1/21/2005 1:18:35 AM
From: RealMuLan  Read Replies (1) of 6370
 
Global economy to continue to grow in 2005; China set for soft landing - UBS
Thursday, January 20, 2005 9:25:32 AM
afxpress.com

HONG KONG (AFX) - The global economy will continue to grow steadily in 2005 but at a slower pace than that recorded last year, while China remains on course for a soft landing, UBS analysts said

UBS predicts that US savings will gradually increase this year and that consumption there will fall

"This will imply that the US consumption boom will come to an end with direct consequences for consumption-goods exporting countries," Klaus Wellershoff, chief economist and head of wealth management research for UBS Wealth Management, said at a press conference here

UBS also predicts that the US currency will continue its decline but added that a dollar crash is unlikely

Asian economic growth will slow in 2005 but it will remain healthy, added Yonghao Pu, head of Asia regional research for UBS Wealth Management

Pu predicts that China's economy will continue on the path of controlled slowdown

"China's economy remains on course for a soft landing and will continue to decelerate," said Pu. "Growth will slow from 9.2 pct in 2004 to 7.7 pct in 2005 before rising to 8.5 pct in 2006." He noted that excessive capacity in small and outdated projects has been reduced in various sectors such as steel, cement, aluminum and automotive production
futures.fxstreet.com
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