In line with China’s growing economic development, the nation also increases its spending on domestic security, which rises 11.2 percent for 2012. China’s defense budget is estimated to reach $110 billion.
Author: idForex
After maintaining the 8 percent goal since 2005 until 2011, this year, China lowered the nation’s economic growth target to 7.5 percent, which is the lowest since 2004.
Eurozone finance ministers are ready to finish the negotiation about second rescue package for Greece today. They will gather in Brussels today to review the progress achieved by Greek government to meet the requirements of the 130 billion Euro aid.
ZuluTrade’s Gainers-MX gained a lot in the last day of February, generating a total 1,244 pips profit during the month. Good gains, but drawdown was increasing either.
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China’s PMI Rose Slightly
China’s PMI rose to 51.0 in February, compared to the previous month at 50.5. Regarding this little improvement, Nomura economist, Zhang Zhiwei, seemed unimpressed. Zhang said this slight increase is unable to provide a very promising outlook.