Economic Growth Stalls as First Philippine economy: Why Asia's star 3 months ago   04:10

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TheStreet: Investing Strategies
First quarter GDP rose only 0.2% during first quarter, according to the Commerce Department, missing expectations of 1%. During the fourth quarter, the economy grew 2.2%. While cold weather tends to hurt growth, some economists wonder if the anemic GDP is attributed to more substantial factors, beyond colder temperatures. 'What we’ve seen is confirmation that the consumer doesn’t feel compelled to go out and spend money,' said Michael Hewson, chief market analyst at the London-based CMC Markets. 'This is a trend I’ve been monitoring for the last four or five months. You can blame the cold weather if you’d like, but I only think that’s part of the problem.' TheStreet’s Scott Gamm reports from New York.

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Philippine economy: Why Asia's star Economic Growth Stalls as First 3 months ago   01:29

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MANILA, Philippines - UBS Managing Director and Senior Global Economist Paul Donovan says he lives in an airplane, travelling 10 months a year, moving from country to country to talk about the global economy.

Donovan has been with UBS for over 20 years, and has authored several books including a children’s book about economics. He is also a co-founder of a cancer research facility and an amateur heavyweight boxer.

ANC sat down with Donovan for an interview. Here is the transcript:

Q: How has global economy transformed?

A: We’ve had 2 big transformations. Prior to the financial crisis, there was a trend toward increased liberalization, globalization of trade and in particular globalization of capital, people could invest their money whenever they wanted, wherever they wanted. And this process really did make the world economy a lot more efficient.

In the years after the global financial crisis, trends have changed. Globalization of trade continues but at a slower pace, globalization of capital has partially unwound. And we’re seeing more regulation come in to the global financial system and other economies. That’s not necessarily a bad thing. For many reasons, regulation may be desirable but it does reduce efficiency in the global economy, and that lowers the trend rate of growth, the long term rate of growth we can expect the economy to produce.