US losing economic muscle in Asia: official
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Facing stiff competition from China and the European Union, the United States is rapidly losing economic clout in Asia, with its export share dropping in most of 34 countries surveyed in the region, the US commerce secretary said Thursday.
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This year's U.S. presidential election has special significance for East Asia. A Pacific Ocean diminished in size by technology has linked East Asia's economic future with America's. Any slowdown in the U.S. spells problems for Asia. Although intra-East Asian trade has grown by double digits yearly since the 1990s, the end destination for about 25% of the region's manufactured products is still the U.S. Asia needs a U.S. Administration that supports free trade and is able to restrain domestic pressures to protect American jobs by restricting outsourcing.
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WASHINGTON (AFX) - The US economy is losing steam, the Conference Board said Thursday, reporting that the index of US leading economic indicators fell 0.3 percent in October, the fifth straight decrease.
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0439 GMT -- US Treasuries extended losses in Asia after slipping in New York, where a strong reading in the Philadelphia Fed&#39;s manufacturing survey dented Treasuries.
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The fall highlighted concerns about weakness in the U.S. economy as economies abroad continue to expand.
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Asia's economic growth is likely to be constrained by an expected slowdown in the U.S. economy and potential spillover from the subprime mortgage crisis, two economic forecasts released Thursday said.
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The US is heading for a recession and the rest of the world would be "dead wrong" to think this will not impact on growing Asian economies, Morgan Stanley senior executive Stephen Roach said Sunday.
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The United States' image is plummeting in many corners of the globe, but China and other large powers are falling from favor as well, according to a global survey released on Wednesday.
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SINGAPORE, Feb. 6 -- Stock markets across Asia plunged on fears that a U.S. recession will cut demand for exports.
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A growing number of economists argue that the U.S. is caught in a gradual deterioration brought on by the yawning deficit in trade and other international transactions.
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Business & money: Asian markets took a battering overnight on growing fears that the US, the world's biggest economy, may be heading for recession.
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While Chinaâs markets rebounded, markets around Asia fell in reaction to the sharp drop on Wall Street and to disappointing figures on the U.S. economy.
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The US dollar hits a new low against the euro in early Asian trade as fears over the state of the US economy deepen.
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If the dollar continues to slide, foreign investors may dump US stocks and bonds, the Fed chairman says. WASHINGTON - Swollen trade deficits eventually could threaten the economy by souring foreign appetites
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MANILA An unstable US dollar, the continued increase in oil prices, and a downturn in China&#39;s economy could slow down East Asian economies in 2005, the Asian Development Bank warned on Monday.
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A senior Chinese central bank official has warned the United States not to blame other countries for its own economic difficulties, a report said.
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The world's top finance officials stopped well short of expressing serious concern about the plunging U.S. dollar at a meeting that ended Sunday, although they issued a call for "steps toward greater exchange-rate flexibility" in Asia's emerging economies.