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BERLIN Michael Gallup Youth Jersey , Oct. 14 (Xinhua) -- The German government sharply cut its forecast for German economic growth on Tuesday, blaming geopolitical crises and moderate global growth.

In its autumn forecast, the German government expected the gross domestic product (GDP) to grow by 1.2 percent this year and by 1.3 percent in 2015. Both are significantly lower than the government's spring forecast of 1.8 percent and 2.0 percent respectively.

German Economy and Energy Minister Sigmar Gabriel attributed the adjustment to crises abroad, as well as the weak performance of the global economy.

"The German economy is sailing in a difficult foreign economic water," he said in a press conference in Berlin, adding that geopolitical crises have brought uncertainties to Germany Byron Jones Youth Jersey , while moderate global growth has dragged the German economy downward.

The government forecast foreign trade would contribute to GDP growth by minus 0.1 percent in 2014 and by 0.3 percent in 2015.

Gross fixed investment was expected to increase by 3.2 percent this year and 3.3 percent in 2015, both below the government's spring forecast.

Meanwhile, consumption was expected to grow by 1.0 percent in 2014 and 1.4 percent in 2015, instead of 1.5 percent and 1.7 percent respectively as previously forecast.

Couples dance during an event to celebrate their golden wedding anniversary (50th anniversary) in Rugao city, East China's Jiangsu province, Oct 27 Maliek Collins Youth Jersey , 2014. Hundred couples attended the event. [PhotoIC]

Emerging Asian nations are finding out what developed ones discovered years ago: Money - and the stuff it buys - brings happiness, or at least satisfaction.

Levels of self-reported well-being in fast-growing nations like China, Indonesia and Malaysia now rival those in the United States, Germany and Britain, rich nations that have long topped the happiness charts, according to a Pew Research Center global survey released on Friday.

It says this shows how rises in national income are closely linked to personal satisfaction.

The pollsters asked people in 43 countries to place themselves on a "ladder of life" Jaylon Smith Youth Jersey , with the top rung representing the best possible life and the bottom the worst. Pew carried out the same survey in 2002 and 2005 in most of these countries, enabling researchers to look at trends over time.

A cushion with a pattern of the Chinese currency Renminbi.

But the data also suggest that there is a limit to how much happiness money can buy.

For example, 56 percent of Malaysians rated their lives at "seven" or higher on the ladder, significantly more than the 36 percent in Bangladesh, a poor country. Yet the public in Germany, which has far higher gross domestic product per capita than Malaysia Chidobe Awuzie Youth Jersey , expressed a life satisfaction level of 60 percent, just 4 percentage points more than Malaysia.

"Money can't secure happiness," said Nguyen Thi Mai, 66, a retired teacher, as she relaxed on a bench overlooking scenic Hoan Kiem Lake in central Hanoi Taco Charlton Youth Jersey , the Vietnamese capital.

"There are people who don't have any money, but they lead happy lives because family members love and respect each other. But there are rich families where husbands and wives often quarrel and children are addicted to drugs."

While wealth appears to contribute to happiness, other research has indicated it is far from the only factor. Women tend to be happier than men, for example, and unmarried and middle-aged people tend to report lower levels of well-being than married and younger people.

The Pew survey results were based on 47,643 interviews in 43 countries with adults aged 18 and older between March and June. The survey also found that people in emerging and developing economies prioritize a few essentials in life Connor Williams Youth Jersey , including their health, their children's education and safety from crime.

Fewer people in those economies said Internet access, car ownership, free time or the ability to travel is very important in their lives.

The survey saw significant gains in personal satisfaction in Indonesia, where 58 percent of those polled placed themselves on the seventh-highest rung of the "ladder of life" or above, up from 23 percent in 2007 Leighton Vander Esch Youth Jersey , and Malaysia, where 56 percent put themselves in that same upper range, up from 36 percent seven years ago.

In Vietnam, which wasn't included in the 2007 survey, 64 percent said they were on the seventh-highest rung or above.


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