Asia Archives - Page 15 of 109

29Nov

By Brian ThompsonNo Comments

Asia, China, Market

Asia in denial

I saw nothing but denial in my recent post-US election tour of Asia, with stops in Hong Kong, Shenzhen, Beijing, and Singapore. Taking a cue from surging global equity markets, Asians are making every effort to wish away problems at home and abroad. Nowhere is this more evident than in China. President Xi Jinping has long stressed his preference for the “good stories of China” (bit.ly/3Z8EI75). Amid the most serious Chinese economic slowdown since the 1970s, government attempts to put a positive spin (bit.ly/3Ozky0R) on the country’s outlook have intensified. An improvement in equity-market sentiment (bit.ly/4fL6ZaO) — by October 8, the CSI 300 was 35% above its low on September 13 — was the first talking point in all my discussions. Never mind that this rebound, which has si...

Maldives abandons “India-Out” in favor of a financial lifeline

28Nov

By Brian ThompsonNo Comments

Asia, Market, World

Maldives abandons “India-Out” in favor of a financial lifeline

The state visit to India last month by Maldives President Mohamed Muizzu involved a visible effort to repair the diplomatic relationship. New Delhi more than welcomed the rapprochement and signed a range of agreements with Male. India-Maldives ties were bumped up to “Comprehensive Economic and Maritime Security Partnership,” with an ambitious vision document attached. Muizzu’s visit starkly contrasted the sentiment that accompanied his rise to power. He took took office last year following a politically charged “India-Out” election campaign. Immediately upon victory, he removed from the country the minimal Indian military presence (in place primarily to assist Male operate Indian defence platforms) and “reviewed” and junked important strategic agreements with I...

The diplomatic ties between China and Pakistan have reached a low point.

28Nov

By Joe RodriguezNo Comments

Asia, China

The diplomatic ties between China and Pakistan have reached a low point.

As if Pakistan’s government wasn’t under pressure enough – with thousands of protesters on the streets and the capital Islamabad in lockdown amid calls to release former prime minister Imran Khan – relations with neighbouring China are also going from bad to worse. Beijing’s growing anger over the safety of its citizens in Pakistan has been illustrated by a surprising diplomatic spat. “It is unacceptable for us to be attacked twice in only six months,” declared China’s ambassador in Islamabad Jiang Zaidong in an unusually direct response to comments made by a senior Pakistan politician seen to be downplaying the risk. “President Xi [Jinping] cares about Chinese people’s security and puts people’s lives first,” Jiang went on to say. “He especially cares about the security of t...

28Nov

By Joe RodriguezNo Comments

Asia, China, World

The diplomatic ties between China and Pakistan have reached a low point.

As if Pakistan’s government wasn’t under pressure enough – with thousands of protesters on the streets and the capital Islamabad in lockdown amid calls to release former prime minister Imran Khan – relations with neighbouring China are also going from bad to worse. Beijing’s growing anger over the safety of its citizens in Pakistan has been illustrated by a surprising diplomatic spat. “It is unacceptable for us to be attacked twice in only six months,” declared China’s ambassador in Islamabad Jiang Zaidong in an unusually direct response to comments made by a senior Pakistan politician seen to be downplaying the risk. “President Xi [Jinping] cares about Chinese people’s security and puts people’s lives first,” Jiang went on to say. “He especially cares about the security of t...

Beyond the inner ring of the Communist Party, a small group of well-known economists make up the “brain trust” that shapes economic policy.

28Nov

By Walter ParezNo Comments

Asia, China, Market

Beyond the inner ring of the Communist Party, a small group of well-known economists make up the “brain trust” that shapes economic policy.

Who truly has Beijing’s ear when it comes to economic policymaking? As China navigates a period of profound economic challenges, this question has taken on new urgency. While outsiders often perceive China’s economic policies as dictated in a top-down, insulated manner, the reality is more nuanced. Policy-making in Beijing frequently involves regular engagement with trusted experts through roundtables, study sessions, and advisory committees. The voices shaping economic strategy extend beyond the Chinese Communist Party (CCP)’s inner circle to include a select “brain trust” of economists whose ideas inform and influence key decisions. To understand China’s policy direction, it is crucial to identify this brain trust. Our project does just that by analyzing the perspectives of econom...

A trade crisis is sparked as the US threatens to impose tariffs on Canada and Mexico.

28Nov

By Mike TrudellNo Comments

Asia, Market, USA, World

A trade crisis is sparked as the US threatens to impose tariffs on Canada and Mexico.

The United States is threatening a significant shake-up in its trade relations with Canada and Mexico. President-Elect Trump has proposed imposing tariffs of up to 25 per cent on key imports. A Reuters report highlights that it includes crude oil, automobiles, and agricultural goods. This move comes amid escalating disputes over border security and trade imbalances. For Canada, the potential tariffs on crude oil could severely impact the nation’s economy, given that over 80 per cent of its oil exports are destined for the US. Meanwhile, Mexico, which relies heavily on automobile and agricultural exports to its northern neighbour, could face severe economic repercussions. Mexican president Claudia Sheinbaum during a press conference highlighted and I quote “to one tariff will c...

ADB and Mastercard Form a Groundbreaking Alliance to Fund MSMEs in Asia and the Pacific

28Nov

By Brian ThompsonNo Comments

Asia, Market, World

ADB and Mastercard Form a Groundbreaking Alliance to Fund MSMEs in Asia and the Pacific

The Asian Development Bank (ADB) and the Mastercard Impact Fund, administered by the Mastercard Center for Inclusive Growth, have signed a memorandum of understanding to establish a groundbreaking partnership aimed at supporting micro, small, and medium-sized enterprises (MSMEs) across Asia and the Pacific. The initiative will initially target Georgia, India, Indonesia, Malaysia, the Philippines, Thailand, and Viet Nam. It will leverage a $5 million grant from Mastercard to financial institutions, to catalyze lending toward MSMEs, with a focus on women-led or -owned MSMEs and climate finance among small businesses. The grant will support up to $1 billion of ADB financing over a 4-year period, providing risk-reduction capital, performance incentives, and capacity building for financial ...

The US-China tech battle has reached a “turning point” with Huawei’s latest smartphone.

26Nov

By Mike TrudellNo Comments

Asia, China, Market, USA, World

The US-China tech battle has reached a “turning point” with Huawei’s latest smartphone.

Huawei is set to launch its latest smartphone this week, complete with a new, made-in-China operating system — a first for a Chinese company and an indication of the progress the country’s tech companies have made, despite US sanctions. Unlike previous Huawei phones, which used an operating system built on Google’s Android, the new Mate 70 smartphone will run entirely on the company’s own HarmonyOS Next. Huawei hopes the system will be able to compete with the dominant incumbents, Apple’s iOS and Android, which together power around 98% of all smartphones globally, The Economist noted. Building a fully independent operating system “is no mean feat,” The Economist noted, because it requires persuading enough developers to spend time creating apps specifically for the new system:...

According to a source, Japanese competition officials raid Amazon Japan.

26Nov

By Brian ThompsonNo Comments

Asia, China, Market, World

According to a source, Japanese competition officials raid Amazon Japan.

Japanese officials conducted an on-site inspection of Amazon Japan on Tuesday amid suspicion the group had violated anti-monopoly laws. Authorities from Japan’s Fair Trade Commission conducted the raid, according to Reuters, which cited a government source. The unit of Amazon.com Inc is suspected of inappropriately urging sellers to lower their prices on its e-commerce site in exchange for giving their products advantageous placement on the site, the source said. “There is a suspicion that Amazon Japan is forcing sellers to cut prices in an irrational way,” said the source, who declined to be named as an official announcement has yet to be issued. Amazon Japan did not immediately respond to an email query about the raid. Amazon is likely to face an EU investi...

A senior MEP claims that the EU and China are nearing a deal on EV import tariffs.

24Nov

By Joe RodriguezNo Comments

Asia, China, Market

A senior MEP claims that the EU and China are nearing a deal on EV import tariffs.

FRANKFURT, Nov 22 (Reuters) - Brussels and Beijing are nearing a solution over tariffs on Chinese electric vehicle imports into the bloc, the chair of the trade committee of the European Parliament told a German broadcaster. "We are close to an agreement: China could commit to offering e-cars in the EU at a minimum price," Bernd Lange told n-tv, without elaborating. "This would eliminate the distortion of competition through unfair subsidies, which is why the tariffs were originally introduced." The European Commission was not immediately available for comment. The European Union last month decided to increase tariffs on Chinese-built electric vehicles to as much as 45.3% in its highest-profile trade investigation, a move that has divided Europe and triggered retaliatio...

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