Global construction will outpace GDP growth over the next 10 years, with China and India accounting for 38% of the 4.8 trillion US dollars increase in output by 2020, PricewaterhouseCoopers (PwC) said this week.
Rapid growth of emerging economies like China, India and Brazil is boosting the American exports, US Treasury Secretary Timothy Geithner has said.
China will reduce import tariffs on a range of products and further cut red tape involved in import application procedures, to “maintain balanced trade” according to statements from a senior official to a local newspaper.
China's Prime Minister Wen Jiabao says China is lowering its annual economic growth target from 7.5% to 7% and is determined to contain soaring prices. He was speaking in a question and answer session with internet users in what has become an annual online chat. Mr Wen said China needed to ensure that growth was sustainable.
China plans to build at least 45 new airports in the next five years to serve booming travel, the top industry regulator said last week.
Chilean Central Bank data this week confirmed ha China is now the biggest provider of consumable goods to the country. In 2006, the main providers of consumable goods to Chile were the US, Argentina and Brazil.
China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be resumed after the passage of a reform of the country's oil law expected this year.
China has raised fuel prices for the second time in three months as it looks to offset a jump in global crude costs. However, the move has raised questions over government attempts to slow inflation.
Negotiators have failed to agree targets to reduce global economic imbalances on the first day of the two-day G20 meeting in Paris. The countries want to better coordinate economic policies to avoid a repeat of the 2008 global financial crisis.
Argentina and Brazil agreed Friday to set up a Monitoring Committee in order to exclude Brazilian products from being affected by the imports non-automatic licence system announced this week by the administration of President Cristina Fernandez de Kirchner.