Fri, 14 May 2021

WASHINGTON -- China's economy grew at a record pace in the first quarter of 2021, surpassing other major nations in its pandemic recovery, The Washington Post reported Friday.

China's economy grew 18.3 percent year on year in the January-March quarter of 2021, as strong domestic and foreign demands powered recovery from a low base in early 2020, the onset of the COVID-19 pandemic.

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WASHINGTON -- The U.S. Treasury Department on Friday said that no major trading partner of the United States meets the criteria as a currency manipulator, but Vietnam, Switzerland and China's Taiwan will be under enhanced monitoring for their currency practices.

In its semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, the Treasury Department concluded that Vietnam, Switzerland and Taiwan met all three criteria for enhanced currency analysis under the Trade Facilitation and Trade Enforcement Act of 2015 during the four quarters through December 2020. (U.S. Treasury-Currency)

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BRUSSELS -- The European Commission intended to approve the European Union's (EU) member states' recovery and resilience plans by summer and then begin to disburse funds from the Recovery and Resilience Facility accordingly, the commission's executive vice-president responsible for economy Valdis Dombrovskis said on Friday.

The facility, the bulk of the 750-billion-euro (898-billion-U.S. dollar) recovery fund, will provide 312.5 billion euros in grants and up to 360 billion euros in loans. (EU-Recovery fund)

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BRUSSELS -- Annual inflation in the European Union (EU) stood at 1.7 percent in March, up from 1.3 percent in February, the bloc's statistical office said on Friday.

The figure for the same month last year was 1.2 percent, according to Eurostat.

The euro area annual inflation rate was 1.3 percent in March, up from 0.9 percent of the previous month and from 0.7 percent in March 2020. (EU-Inflation Rate Rise)

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