Subscribe to our free daily newsletters
  Space Travel News  

Subscribe to our free daily newsletters

ADB warns hot money could turn China into 'next Vietnam'

by Staff Writers
Beijing (AFP) Sept 16, 2008
The Asian Development Bank warned Tuesday that China could risk becoming the "next Vietnam", suffering a sudden outflow of short-term speculative funds when the current global turmoil subsides.

"One of the big factors is movement in international capital. Many are concerned that China will become the next Vietnam," said Jian Zhuang, a senior economist with the ADB.

"Hot money will rush into China because the Chinese economy is relatively stable but the risk is when the (global) situation stabilises, all the funds will flow out again. This will create a huge shock for China's financial system."

Speculative funds have been blamed for a recent spike in Vietnam's inflation, which hit 28.3 percent year-on-year in August.

The ADB on Tuesday issued its Asian Development Outlook 2008 update, maintaining a forecast of 10 percent growth for China's economy this year.

However, it lowered previous expectations for Chinese economic growth in 2009 to 9.5 percent from 9.8 percent, on a slowdown in exports and investments.

Related Links
The Economy

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

US July trade deficit swells on oil, Chinese imports
Washington (AFP) Sept 11, 2008
The US trade deficit rose sharply to 62.2 billion dollars in July, the largest gap in more than a year, on record high oil prices and surging Chinese imports, government data showed Thursday.

  • College Students Develop Rocket Motors In Tamil Nadu
  • US marks Ares milestone in next chapter of manned space flight
  • Pratt And Whitney Rocketdyne To Further Test J-2X
  • Russia Set To Test Second-Stage Booster For Angara Rocket

  • Sea Launch Prepares For The Launch Of Galaxy 19
  • New Impulse To Russian Rockets
  • ATK Propulsion And Composite Technologies Key To Successful Delta II Launch
  • United Launch Alliance Launches GeoEye-1 Commercial Satellite

  • Endeavour's move to launch pad set
  • NASA adjusts launch dates
  • Shuttle Atlantis At The Pad For Final Hubble Mission
  • Will NASA Retire The Space Shuttle In 2010

  • Hurricane Ike's impact felt at International Space Station: NASA
  • Russia To Launch Progress M-65 Space Freighter To ISS
  • Russia's Progress Spacecraft Buried In Pacific Ocean
  • European freighter detaches from space station

  • Building A New Rocket For The Nation
  • Actel Launches Flash-Based FPGAs Into Space
  • US astronaut promotes Mexican space agency
  • NASA's Ares I Rocket Passes Review To Reach Critical Milestone

  • Short Flight For Shenzhou 7
  • New Crews For Shenzhou
  • Shenzhou: A Spacewalk In The Sunlight
  • China To Launch Third Manned Space Flight Sep 25

  • iRobot Awarded US Army Contract For Robotic Systems
  • Robots Learn To Follow
  • Robot-assisted surgery repairs fistulas
  • Japanese Researchers Eye e-Skin For Robots

  • More Soil Delivered To Phoenix Lab
  • NASA Selects CU-Boulder To Lead Mars Mission
  • Opportunity Bids Farewell To Victoria
  • NASA Selects MAVEN Mission To Study Mars Atmosphere

  • The content herein, unless otherwise known to be public domain, are Copyright Space.TV Corporation. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space.TV Corp on any Web page published or hosted by Space.TV Corp. Privacy Statement