Don't Worry, China Will Keep Growing
02/01/2016 06:35 pm ET | Updated 7 hours ago
ChinaFotoPress via Getty Images
BEIJING -- The coming crash of the Chinese economy has reemerged as a popular view in the global media. The reason for such a prediction this time is the persistent deceleration of China's growth after 2010. The growth rate dropped from 10.6 percent in 2010 to 7.3 percent in 2014 and further down to 6.9 percent in 2015, which is the lowest record in 25 years. It is the first time that China has experienced such an extended period of deceleration after the transition to a market economy in 1979.
The downward pressure continues to be huge. This deceleration is commonly attributed to China's internal structural problems, such as inefficient state ownership, high debt leverage, aging and an unsustainable investment-led growth model. Such structural problems are hard to solve. As such, a crash is believed unavoidable. The turmoil in the stock market and foreign exchange market since the second half of last year further reinforces this pessimism about China's future. It was the dominant view at the recent Davos conclave and other international fora.
As an economy in transition, China does have many structural problems. The Third Plenum's decision for comprehensively deepening reform in 2013 aims to address those issues. However, the deceleration after 2010 is in fact mostly due to external and cyclical factors.
In 2010 the growth rates of Brazil, India and Russia, the other BRIC countries, were respectively 7.5 percent, 10.3 percent and 4.5 percent. Their growth rates in 2014 dropped down to 0.14 percent, 7.3 percent and 0.6 percent. Their growth deceleration is similar to China's and the drop is even bigger. We cannot attribute their slowdown to China's structural problems. Moreover, the growth rates of South Korea and Singapore in 2010 were 6.1 percent and 15.2 percent, and in 2014 sharply down to 3.3 percent and 2.9 percent. They are high-income, high-performing economies and are supposed to have few structural problems. However, they encountered an even sharper growth deceleration in the same period than that of China. Only common external and cyclical factors can explain why these countries had a similar pattern of growth deceleration in the same period of time.
Firstly, from 1979 to 2013, China's average annual export growth rate was 16.8 percent. However, due to a slow recovery from the 2008 global financial crisis and consequent subdued demand growth in the United States, Europe and other developed countries, the export growth rate dropped sharply to 6.1 percent in 2014 and further down to -1.8 percent in 2015. Other emerging market economies and the East Asian export-oriented high-income economies were similarly affected.
Secondly, facing the 2008 global crisis, China, like other countries, adopted a fiscal stimulus to support investments. Those investment projects have been completed. The global economy has not yet returned to normal and external demand is weak. If there is no new stimulus, investment growth inevitably will have a cyclical deceleration. Such a cyclical decline in investment is also common to all countries.
With weak growth in export and investment, consumption becomes the main driver of economic growth. China's consumption growth has been stable at around 8 percent due to the steady employment rate. Other emerging market economies and the high-income, high-performing, export-oriented East Asian economies, consumption growth was not as robust China's. Consequently, their deceleration is much sharper than China's.
It has been eight years since the hit of the 2008 global crisis. The United States, eurozone and other developed countries are yet to return to normal growth. Due to political reasons it is difficult for the crisis-hit high-income countries to implement necessary structural reforms such as reducing wages, lowering social benefits, financial deleveraging and consolidating budget deficit in order to enhance economic competitiveness and vitality. They may be trapped in lost decades, like Japan after the burst of bubble in 1991, with sluggish growth contributing to weak global demand. Future growth in China and other emerging market economies will have to rely mostly on domestic demand.
First, as a middle-income country, China has ample opportunities for industrial upgrading. Even though there is serious excess capacity in steel, cement, glass, aluminum, shipbuilding and other industries -- while the traditional labor-intensive processing industries have lost comparative advantage due to rising wages -- they all belong to the category of middle-low industries. China has many investment opportunities in moving up the industrial ladder to middle-high industries, such as special steels, precision-machine tools, advanced equipment, etc. Such investments will generate high economic returns.
Second, infrastructure investments in China in the past were mainly for the purpose of connecting one city to another city through highways, high-speed train, airports and seaports. Infrastructure within cities, such as subways and sewage, however, are in serious shortage. Investments in those areas can reduce transaction costs, enhance economic efficiency and generate high social and economic returns.
Lastly, urbanization. Currently, only around 55 percent of China's population lives in urban areas. The urbanization rate in high-income countries generally exceeds 80 percent. With economic development and the increase in the urbanization rate in the coming years, investment is required for providing housing, urban infrastructure and other public services.
The existence of many good investment opportunities during the present economic slowdown is the major difference between China as a developing country and the developed countries. If industries in developed countries have had excess capacity, it is very hard to find good new investment opportunities. Infrastructure and environment in the developed countries generally are good. Urbanization has been completed. Therefore, one cannot simply take the experience of developed countries as a reference to judge China's growth potential during a recession. This is the reason why Premier Li Keqiang said last March that China has an ample space to maneuver when facing economic downturn.
First, the total accumulated public debt of the central and local governments in China is less than 60 percent of GDP. In most other developing and developed countries, their government debts have exceeded 100 percent of their GDPs.
China has ample fiscal space to support desirable infrastructure investment. The only constraint is that local governments borrowed short-term debts from banks or shadow banks to finance long-term infrastructure investment in the past, causing a term mismatch issue. China's Ministry of Finance recently addressed the issue by allowing local governments to issue long-term infrastructure bonds to replace their debts. When necessary, Chinese governments can adopt another round of expansionary fiscal policy to support infrastructure investments.
Second, China's household savings is nearly 50 percent of GDP, one of the highest in the world. The government can use active fiscal policy to leverage private investments, including using private-public partnership to build infrastructure.
Third, investment requires foreign exchange to import technology, equipment and raw materials from abroad. China has $3.3 trillion of foreign exchange reserves, the largest in the world.
The Caiyuanba Bridge, completed in 2007, contrasts with the more rural outskirts of Chongqing, China. (Mark Horn. Getty Images)
The above conditions explain why China differs from other developing countries. Other developing countries also have many good investment opportunities, but their investments are often constrained by the government's poor fiscal strength, low private savings rate or inadequate foreign exchange reserves when they encounter external shocks and downward growth pressure. China has no such constraints.
Moreover, the interest rates and reserve ratio in China's banks are rather high. Because the U.S., the eurozone and Japan have near zero or less than zero interest rates, they encounter a liquidity trap. The Chinese government can lower interest rates and the required reserve ratio to increase credits to support investments.
With the above favorable conditions, China will be able to maintain a reasonably high investment growth rate, which will create jobs, increase household income and maintain consumption growth at a reasonably high rate. Such favorable conditions will not change in the 13th Five-Year Plan period. Even if external conditions do not improve and export growth is relatively weak, China still has the ability to achieve the growth target of 6.5 percent and above by relying on domestic investment and consumption growth.
Because it is able to reach its target growth rate, China will continue to be the main growth engine in the world, contributing around 30 percent of global growth annually.
http://www.huffingtonpost.com/justin-yifu-lin/chinas-growth-rate_b_9132136.html?utm_hp_ref=business&ir=Business
02/01/2016 06:35 pm ET | Updated 7 hours ago
- Justin Yifu Lin Professor and honorary dean of National School of Development at Peking University. Former chief economist, The World Bank
ChinaFotoPress via Getty Images
BEIJING -- The coming crash of the Chinese economy has reemerged as a popular view in the global media. The reason for such a prediction this time is the persistent deceleration of China's growth after 2010. The growth rate dropped from 10.6 percent in 2010 to 7.3 percent in 2014 and further down to 6.9 percent in 2015, which is the lowest record in 25 years. It is the first time that China has experienced such an extended period of deceleration after the transition to a market economy in 1979.
The downward pressure continues to be huge. This deceleration is commonly attributed to China's internal structural problems, such as inefficient state ownership, high debt leverage, aging and an unsustainable investment-led growth model. Such structural problems are hard to solve. As such, a crash is believed unavoidable. The turmoil in the stock market and foreign exchange market since the second half of last year further reinforces this pessimism about China's future. It was the dominant view at the recent Davos conclave and other international fora.
As an economy in transition, China does have many structural problems. The Third Plenum's decision for comprehensively deepening reform in 2013 aims to address those issues. However, the deceleration after 2010 is in fact mostly due to external and cyclical factors.
In 2010 the growth rates of Brazil, India and Russia, the other BRIC countries, were respectively 7.5 percent, 10.3 percent and 4.5 percent. Their growth rates in 2014 dropped down to 0.14 percent, 7.3 percent and 0.6 percent. Their growth deceleration is similar to China's and the drop is even bigger. We cannot attribute their slowdown to China's structural problems. Moreover, the growth rates of South Korea and Singapore in 2010 were 6.1 percent and 15.2 percent, and in 2014 sharply down to 3.3 percent and 2.9 percent. They are high-income, high-performing economies and are supposed to have few structural problems. However, they encountered an even sharper growth deceleration in the same period than that of China. Only common external and cyclical factors can explain why these countries had a similar pattern of growth deceleration in the same period of time.
In fact, it is not hard to understand the causes for such a simultaneous deceleration in so many countries. There are three drivers of growth in a country: exports, investment and consumption.High-income, high-performing economies are supposed to have few structural problems. However, they encountered an even sharper growth deceleration in the same period than that of China.
Firstly, from 1979 to 2013, China's average annual export growth rate was 16.8 percent. However, due to a slow recovery from the 2008 global financial crisis and consequent subdued demand growth in the United States, Europe and other developed countries, the export growth rate dropped sharply to 6.1 percent in 2014 and further down to -1.8 percent in 2015. Other emerging market economies and the East Asian export-oriented high-income economies were similarly affected.
Secondly, facing the 2008 global crisis, China, like other countries, adopted a fiscal stimulus to support investments. Those investment projects have been completed. The global economy has not yet returned to normal and external demand is weak. If there is no new stimulus, investment growth inevitably will have a cyclical deceleration. Such a cyclical decline in investment is also common to all countries.
With weak growth in export and investment, consumption becomes the main driver of economic growth. China's consumption growth has been stable at around 8 percent due to the steady employment rate. Other emerging market economies and the high-income, high-performing, export-oriented East Asian economies, consumption growth was not as robust China's. Consequently, their deceleration is much sharper than China's.
It has been eight years since the hit of the 2008 global crisis. The United States, eurozone and other developed countries are yet to return to normal growth. Due to political reasons it is difficult for the crisis-hit high-income countries to implement necessary structural reforms such as reducing wages, lowering social benefits, financial deleveraging and consolidating budget deficit in order to enhance economic competitiveness and vitality. They may be trapped in lost decades, like Japan after the burst of bubble in 1991, with sluggish growth contributing to weak global demand. Future growth in China and other emerging market economies will have to rely mostly on domestic demand.
China's Goal Is 6.5 Percent and Above Growth
The Chinese government's goal is to maintain a moderate high growth rate of 6.5 percent and above annually in the 13th Five-Year Plan period between 2016 and 2020 so as to double GDP and household income by 2020 from 2010 levels. As external demand is likely to be weak in the coming years, whether China will be able to achieve its growth target depends on the situation of domestic demand, including investment and consumption. There are good opportunities in both areas.First, as a middle-income country, China has ample opportunities for industrial upgrading. Even though there is serious excess capacity in steel, cement, glass, aluminum, shipbuilding and other industries -- while the traditional labor-intensive processing industries have lost comparative advantage due to rising wages -- they all belong to the category of middle-low industries. China has many investment opportunities in moving up the industrial ladder to middle-high industries, such as special steels, precision-machine tools, advanced equipment, etc. Such investments will generate high economic returns.
Second, infrastructure investments in China in the past were mainly for the purpose of connecting one city to another city through highways, high-speed train, airports and seaports. Infrastructure within cities, such as subways and sewage, however, are in serious shortage. Investments in those areas can reduce transaction costs, enhance economic efficiency and generate high social and economic returns.
Third, there is a high need for investment in environmental protection. In the process of rapid economic growth, China has encountered serious environmental pollution. Investment in this area has high social returns.The existence of many good investment opportunities during the present economic slowdown is the major difference between China as a developing country and the developed countries.
Lastly, urbanization. Currently, only around 55 percent of China's population lives in urban areas. The urbanization rate in high-income countries generally exceeds 80 percent. With economic development and the increase in the urbanization rate in the coming years, investment is required for providing housing, urban infrastructure and other public services.
The existence of many good investment opportunities during the present economic slowdown is the major difference between China as a developing country and the developed countries. If industries in developed countries have had excess capacity, it is very hard to find good new investment opportunities. Infrastructure and environment in the developed countries generally are good. Urbanization has been completed. Therefore, one cannot simply take the experience of developed countries as a reference to judge China's growth potential during a recession. This is the reason why Premier Li Keqiang said last March that China has an ample space to maneuver when facing economic downturn.
China Has the Necessary Resources for Investment
In addition to good investment opportunities, China also has ample resources to support investments.First, the total accumulated public debt of the central and local governments in China is less than 60 percent of GDP. In most other developing and developed countries, their government debts have exceeded 100 percent of their GDPs.
China has ample fiscal space to support desirable infrastructure investment. The only constraint is that local governments borrowed short-term debts from banks or shadow banks to finance long-term infrastructure investment in the past, causing a term mismatch issue. China's Ministry of Finance recently addressed the issue by allowing local governments to issue long-term infrastructure bonds to replace their debts. When necessary, Chinese governments can adopt another round of expansionary fiscal policy to support infrastructure investments.
Second, China's household savings is nearly 50 percent of GDP, one of the highest in the world. The government can use active fiscal policy to leverage private investments, including using private-public partnership to build infrastructure.
Third, investment requires foreign exchange to import technology, equipment and raw materials from abroad. China has $3.3 trillion of foreign exchange reserves, the largest in the world.
The Caiyuanba Bridge, completed in 2007, contrasts with the more rural outskirts of Chongqing, China. (Mark Horn. Getty Images)
The above conditions explain why China differs from other developing countries. Other developing countries also have many good investment opportunities, but their investments are often constrained by the government's poor fiscal strength, low private savings rate or inadequate foreign exchange reserves when they encounter external shocks and downward growth pressure. China has no such constraints.
Moreover, the interest rates and reserve ratio in China's banks are rather high. Because the U.S., the eurozone and Japan have near zero or less than zero interest rates, they encounter a liquidity trap. The Chinese government can lower interest rates and the required reserve ratio to increase credits to support investments.
With the above favorable conditions, China will be able to maintain a reasonably high investment growth rate, which will create jobs, increase household income and maintain consumption growth at a reasonably high rate. Such favorable conditions will not change in the 13th Five-Year Plan period. Even if external conditions do not improve and export growth is relatively weak, China still has the ability to achieve the growth target of 6.5 percent and above by relying on domestic investment and consumption growth.
Because it is able to reach its target growth rate, China will continue to be the main growth engine in the world, contributing around 30 percent of global growth annually.
http://www.huffingtonpost.com/justin-yifu-lin/chinas-growth-rate_b_9132136.html?utm_hp_ref=business&ir=Business
Yesterday at 3:30 pm by Bama Diva
» Fix Social Security With Ownership, Not More Government
Yesterday at 3:27 pm by Bama Diva
» utube MM&C 5/14/24 Iraq Dinar - IQD Update - UN Chapter VII - $3 Billion Revenue - Trade Minister -
Yesterday at 7:05 am by Rocky
» utube 5/16/24 MM&C Al-Sudani - Political Week - Progress Internationally
Yesterday at 7:04 am by Rocky
» Al-Sudani issues directives to develop TBI Bank, including increasing branches, simplifying services
Yesterday at 7:02 am by Rocky
» Al-Sudani issues directives to develop TBI Bank, including increasing branches, simplifying services
Yesterday at 6:59 am by Rocky
» Al-Sudani: We are in the year 2024, and this service reality cannot be accepted in Baghdad
Yesterday at 6:57 am by Rocky
» A deputy accuses Kurdish parties of trying to steal the salaries of the region's employees
Yesterday at 6:51 am by Rocky
» A parliamentary committee calls for accelerating the inclusion of the Intellectual Property Protecti
Yesterday at 6:50 am by Rocky
» Iraq sells nearly 300 million dollars at a currency auction
Yesterday at 6:45 am by Rocky
» The Central Markets Company participates in the Babylon Comprehensive Shopping Exhibition
Yesterday at 6:43 am by Rocky
» The launch of the activities of the Iraq International Real Estate and Investment Exhibition in its
Yesterday at 6:42 am by Rocky
» Al-Sudani receives Iraq's permanent representative to UNESCO
Yesterday at 6:40 am by Rocky
» The Minister of Planning discusses with the Chargé d'Affairs of the Japanese Embassy the mechanisms
Yesterday at 6:39 am by Rocky
» Sudanese Advisor: The reform process will begin with the government banking sector, which represents
Yesterday at 6:35 am by Rocky
» Everything you need to know about the "Bahrain Summit"
Yesterday at 6:32 am by Rocky
» With the participation of Iraq...the start of the 33rd session of the Arab Summit in Bahrain
Yesterday at 6:31 am by Rocky
» Why does Al-Halbousi support a figure from outside Anbar? ..a politician answers
Yesterday at 5:19 am by Rocky
» Coin auction today, Thursday / schedule
Yesterday at 5:18 am by Rocky
» A deputy identifies 4 positives of the “Al-Faw Refinery” project
Yesterday at 5:17 am by Rocky
» Al-Halbousi and the Anbar leadership complex
Yesterday at 5:16 am by Rocky
» A deputy reveals the content of an important circular about state real estate
Yesterday at 5:15 am by Rocky
» “Most of them are not developed.” What is the secret of Chinese companies’ monopolization of oil con
Yesterday at 5:13 am by Rocky
» Al-Allaq announces the success of the electronic transfer platform in combating money laundering
Yesterday at 5:11 am by Rocky
» The Iraqi judiciary accepts the appeal to suspend Kurdistan election procedures.. Document
Yesterday at 5:10 am by Rocky
» The Prime Minister receives the Vice President of the World Bank for the Middle East and North Afric
Yesterday at 5:08 am by Rocky
» The Minister of Electricity and the US Assistant Secretary of State discuss accelerating the impleme
Yesterday at 5:06 am by Rocky
» Implementing the electronic automation system (ASYCUDA) in the central and southern port of Umm Qasr
Yesterday at 5:05 am by Rocky
» Resources: Water storage is much better than 2023
Yesterday at 5:04 am by Rocky
» Iraq intends to launch a new mechanism for paying tickets for mass transit lines
Yesterday at 5:03 am by Rocky
» Including gas investment in 5 oil fields...Total's contracts in Iraq are detailed to Al-Iqtisad News
Yesterday at 5:02 am by Rocky
» Iraq conveys a “negative” image of corruption.. How does it affect the budget deficit?
Yesterday at 5:01 am by Rocky
» Al-Sudani: There is no stalled project in the current government’s dictionary
Yesterday at 5:00 am by Rocky
» We welcome the transformation of the Fifth Division into cultural and entertainment places
Yesterday at 4:59 am by Rocky
» 300 mobile stations for issuing the unified card
Yesterday at 4:58 am by Rocky
» The Minister of Planning chairs a meeting to review the budget schedules
Yesterday at 4:56 am by Rocky
» The return of the displaced is a thorny issue that requires concerted efforts
Yesterday at 4:55 am by Rocky
» 2026.. The first ship docks in the large port of Al-Faw
Yesterday at 4:54 am by Rocky
» The Prime Minister's advisor calls for moving towards banking reform
Yesterday at 4:53 am by Rocky
» Ahli Bank opens a branch in Basra
Yesterday at 4:52 am by Rocky
» A license for brokerage companies to trade in shares on international stock exchanges
Yesterday at 4:51 am by Rocky
» Wills for payment card holders
Yesterday at 4:50 am by Rocky
» Consensus to activate investment activity in Iraq
Yesterday at 4:49 am by Rocky
» In the document... the judiciary accepts the appeal to suspend the technical and financial procedure
Yesterday at 4:47 am by Rocky
» Al-Sudani directs a number of measures to develop the work of the “TBI”
Yesterday at 4:46 am by Rocky
» The Minister of Interior grants advancement and compensation to officers and members of the Najaf Po
Yesterday at 4:44 am by Rocky
» Iraq participates in the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units
Yesterday at 4:43 am by Rocky
» Kurdistan Finance begins preparing lists of promotions in preparation for sending them to Baghdad
Yesterday at 4:41 am by Rocky
» The Supreme Judiciary directs the courts to resolve pending state real estate lawsuits
Yesterday at 4:40 am by Rocky
» President Rashid: There is no Iranian military interference in Iraqi affairs
Yesterday at 4:38 am by Rocky
» Iraq's ports are under surveillance... Parliament reveals new measures to prevent smuggling
Yesterday at 4:36 am by Rocky
» Inflation data boosts interest rate cut expectations and weakens the dollar
Yesterday at 4:35 am by Rocky
» Introducing domestic oil and electricity sales into the budget.. An expert explains the pros and con
Yesterday at 4:34 am by Rocky
» Barzani is in Baghdad to negotiate the budget and elections
Yesterday at 4:31 am by Rocky
» Signing the contract for the Al-Faw refinery project
Yesterday at 4:29 am by Rocky
» “Most of them are not developed.” What is the secret of Chinese companies’ monopolization of oil con
Yesterday at 4:28 am by Rocky
» Al-Maliki’s coalition: Al-Mashhadani is “not nervous” and his method is “Arab without embellishment”
Yesterday at 4:27 am by Rocky
» It is forbidden to move convoys without protection.. The Interior Ministry is preparing to transport
Yesterday at 4:26 am by Rocky
» An American official is in Baghdad to supply Iraq with 3,000 megawatts of electricity
Yesterday at 4:25 am by Rocky
» The Council of Ministers will discuss the budget schedules next Sunday
Yesterday at 4:22 am by Rocky
» Jabbar Al-Luaibi sends a message to Al-Sudani regarding the licensing round for foreign companies
Yesterday at 4:21 am by Rocky
» Government statistics: More than 38 million Iraqis have registered with the unified card project
Yesterday at 4:20 am by Rocky
» Water Resources announces the use of modern irrigation techniques to irrigate 900 dunums in Karbala
Yesterday at 4:19 am by Rocky
» Government directives to implement special procedures to develop the work of the Iraqi Trade Bank
Yesterday at 4:17 am by Rocky
» Iraq is participating in it, and world stars are losing followers.. What is the story of the campaig
Yesterday at 4:16 am by Rocky
» Real estate in Iraq is only for the rich and the prices are astronomical
Yesterday at 4:15 am by Rocky
» Human Rights Center: 85 mass graves are still unopened in Iraq
Yesterday at 4:13 am by Rocky
» Using the phone... Transport announces the imminent launch of a new mechanism for paying tickets for
Yesterday at 4:12 am by Rocky
» Judge Hanoun: Corruption causes a decline in investment rates and the general budget deficit
Yesterday at 4:11 am by Rocky
» President Rashid: The relationship with Iran is historic and strong, and some of the accusations aga
Yesterday at 4:09 am by Rocky
» Parliamentary bloc: The Emirati and Jordanian banks in Iraq have an Arab facade and Zionist backgrou
Yesterday at 4:07 am by Rocky
» Announcing the end of the period of prosperity.. The Baghdad dollar rises again
Yesterday at 4:06 am by Rocky
» Al-Alaq: Our procedures using the external transfer platform prevented money laundering operations
Yesterday at 4:05 am by Rocky
» utube 5/15/24 Iraqi Dinar | PM Al Sudani's Return: Unveiling Iraq's Metal Coins
Wed 15 May 2024, 9:27 am by Rocky
» The President of the Republic: Iraq is facing a new stage and horizons of growth and economic develo
Wed 15 May 2024, 7:08 am by Rocky
» Blinken's assistant is in Baghdad to follow up on the outcomes of Al-Sudani's visit to Washington
Wed 15 May 2024, 7:06 am by Rocky
» Basra.. Re-establishing a border reinforcement deep inside Iran to create the “best” ports in Iraq
Wed 15 May 2024, 7:04 am by Rocky
» New policies may push Iraq to add 75 thousand barrels of oil per day to its OPEC quota
Wed 15 May 2024, 7:00 am by Rocky
» Al-Sudani calls on American companies to work and invest in Iraq
Wed 15 May 2024, 6:59 am by Rocky
» Securities: We are studying the possibility of licensing brokerage companies to trade in shares on i
Wed 15 May 2024, 6:53 am by Rocky
» It will limit smuggling... Economic praise for the decision to raise oil prices at local refineries
Wed 15 May 2024, 6:51 am by Rocky
» A government meeting to review the 2024 budget schedules
Wed 15 May 2024, 6:50 am by Rocky
» Baghdad.. Severe imprisonment for convicts who took sums of money in exchange for promises of appoin
Wed 15 May 2024, 6:49 am by Rocky
» Iraq confirms its keenness to achieve energy self-sufficiency
Wed 15 May 2024, 6:48 am by Rocky
» According to an American newspaper, Biden calls on Arab countries to deploy peace forces in Gaza
Wed 15 May 2024, 6:45 am by Rocky
» Severe imprisonment for convicts who took sums of money from citizens in exchange for promises of ap
Wed 15 May 2024, 6:40 am by Rocky
» The Minister of Planning chairs a ministerial meeting to review the budget schedules
Wed 15 May 2024, 6:38 am by Rocky
» Al-Sudani: The Al-Faw Integrated Refinery Project is one of the important economic projects for the
Wed 15 May 2024, 6:37 am by Rocky
» Al-Sudani told an American official: The government is proceeding with economic and financial reform
Wed 15 May 2024, 6:35 am by Rocky
» The President of the Republic receives the Vice President of the World Bank for the Middle East and
Wed 15 May 2024, 6:33 am by Rocky
» He called for military intervention in Iraq and was the most prominent supporter of Israel.. Who is
Wed 15 May 2024, 6:31 am by Rocky
» A ministerial meeting to discuss the mechanism for transferring the region’s budget allocations
Wed 15 May 2024, 6:29 am by Rocky
» The American Ambassador: We can help the Iraqis by providing electricity around the clock
Wed 15 May 2024, 5:32 am by Rocky
» Jordan National Bank denies its acquisition of the currency auction in Iraq
Wed 15 May 2024, 5:29 am by Rocky
» Al-Maliki's coalition confirms: Al-Mashhadani will be Speaker of Parliament in Saturday's session
Wed 15 May 2024, 5:27 am by Rocky
» Resistance factions give Sudanese time to resolve the foreign presence
Wed 15 May 2024, 5:26 am by Rocky
» Holding Sudanese responsible... A security expert talks about selling security positions
Wed 15 May 2024, 5:25 am by Rocky
» Central Bank auction today, Wednesday / schedule
Wed 15 May 2024, 5:23 am by Rocky
» Collecting the signatures of 60 representatives to replace the American ambassador to Iraq
Wed 15 May 2024, 5:22 am by Rocky