Browsing: Major Economies

Amidst economic slowdown and a downturn in business sentiment, China has established a conservative official growth target of approximately five percent for the current year. Premier Li Qiang, delivering his work report at the National People’s Congress (NPC), pledged to generate 12 million jobs, striving to maintain the surveyed urban unemployment rate at around 5.5 percent. The week-long NPC session, attended by President Xi Jinping and over two thousand delegates, concentrates on vital initiatives to fortify the second-largest economy following the post-COVID-19 deceleration.

Shanghai and Dubai are the top three wealthiest cities in the recently expanded BRICS bloc, determined by the number of millionaires, centi-millionaires, and billionaires in each city.

South Korea’s economy experienced respectable growth in the past year, despite challenges like sluggish exports and subdued domestic demand amid global monetary tightening, as reported by Yonhap News Agency on Thursday.