Gold traded below a 15-week high as
a technical gauge signaled a reversal after three weeks of
increases, while emerging-market turmoil and U.S. economic data
that trailed estimates increased haven demand. SEE MORE Vietnam ranks seventh in the world in terms of gold consumption, according to the World Gold Council (WGC). SEE MORE China has been primarily responsible
for driving global growth since the Crisis began in 2008. Auto sales, for example, would have seen negative
growth world-wide without China. And auto manufacturing is the world’s
largest manufacturing industry. The chemical industry has been in a
similar position. Whilst China is also now responsible for nearly 50% of global metal demand. SEE MORE South Korea, Malaysia, Taiwan, Indonesia, Thailand and the Philippines had combined foreign-exchange reserves of $1.2
trillion last month, more than five times the $233 billion
figure at the end of 1998, official data show. China’s foreign-currency holdings reached a record $3.8 trillion in December,
the world’s largest, from $145 billion 15 years earlier. SEE MORE Vietnam
’s economy should be
growing at a rate of 7 percent again by 2016, according to a report by
global accounting firm Ernst & Young.
The
UK-based firm, which placed the country fourth on its list of 25
potentially vulnerable fast-growing economies, expects faster economic
growth from this year as policy makers are making efforts to reduce the
fiscal deficit, continue curbing inflation, and bring down borrowing
rates. SEE MORE