Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
Japan’s Service Sector Sustains Growth Momentum in November 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
The UN Conference on Trade and Development (UNCTAD) released its Trade and Development Report 2016 earlier on Thursday. UNCTAD said that the world economy in 2016 is in a "fragile state,” and added that “Neither financial bubbles nor export surges offer a sustainable solution to tepid growth and weak labour market conditions.”
UNCTAD said that there was lack of policy coordination among systemically important economies. The agency called for a more ambitious policy package to address existing imbalances and ease the constraints on faster growth.
The UNCTAD report follows a modest downgrade by the Organization for Economic Co-operation and Development (OECD) to global growth forecasts on Wednesday. OECD trimmed global GDP growth forecast for 2016 to 2.9 percent from previous 3.0 percent. 2017 GDP growth forecast was cut to 3.2 percent from previous 3.3 percent.
