China faces severe challenges to its exports due to economic difficulties in key Western markets, the country's commerce ministry has warned. Data has shown a sharp slowdown in export growth in November, the ministry said.
China's rate of inflation has fallen in November to its slowest pace in 14-months. Consumer prices rose at 4.2% compared with the same month last year, the National Bureau of Statistics said this week.
Argentine President Cristina Fernández began on Saturday before Congress her second term with a seventy minutes speech strongly focused on domestic issues with clear messages to labour, corporations, the financial sector, the Judiciary but also a “fine tuning” pledge to continue with the current national, popular, inclusive economic development model.
Argentina and Brazil agreed on Friday to “increase” in the “short term” regional trade in a shared strategy to address the consequences of the global crisis. The commitment was endorsed by Argentina’ Industry minister Debora Giorgi and her Brazilian counterpart Fernando Pimentel.
The IMF recommended Uruguay greater flexibility in the management of macroeconomic policy, ahead of unexpected changes in the international scenario.
British PM David Cameron has defended his decision to block an EU-wide treaty change to tackle the Euro zone crisis, despite warnings it will leave the UK isolated.
Brazilian consumer prices rose faster than expected in November. Inflation as measured by the benchmark IPCA index, quickened to 0.52% last month from 0.43% in October.
Attempts to rescue the Euro will focus on a deal among the 17 nations that use the single currency, French President Nicolas Sarkozy said early Friday.
A United Nations expert urged Argentina to strengthen its measures to protect the human rights of indigenous groups as well as their rights to land ownership and education, adding that a mechanism to establish dialogue between them and the Government is urgently needed.
The European Central Bank cut interest rates by a quarter of a point Thursday to counter the twin threats of recession and deflation in the Euro zone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.