Asia Archives - Page 19 of 97

<strong>CHINESE CHIP PRODUCTION AT RISK AS EQUIPMENT BAN LOOMS</strong>

26Jun

By Michael SmithNo Comments

Asia, China, Market, USA

CHINESE CHIP PRODUCTION AT RISK AS EQUIPMENT BAN LOOMS

The United States is intensifying its measures to restrict China's access to cutting-edge chip technologies capable of manufacturing gate-all-around (GAA) transistors and high-bandwidth memory (HBM) chips. ChangXin Memory Technologies Inc (CXMT), a Hefei-based company that manufactures DRAM for computer servers and smart vehicles, is likely to be a significant focus of Washington's potential restrictions, as per media reports. Samsung Electronics, SK hynix, and Micron are among the major competitors of CXMT. Alan Estevez, who heads the Bureau of Industry and Security (BIS) at the US Commerce Department, recently embarked on a trip to the Netherlands. The purpose of his visit, as reported by Reuters on Tuesday, was to discuss the inclusion of an additional 11 Chinese chip manufacturi...

25Jun

By Online DeskNo Comments

Asia, Market, World

Revenue Statistics in Asia and the Pacific 2024

This annual publication compiles comparable tax revenue statistics for 36 economies, including Armenia, Australia, Azerbaijan, Bangladesh, Bhutan, Cambodia, People’s Republic of China, the Cook Islands, Fiji, Georgia, Hong Kong (China), Indonesia, Japan, Kazakhstan, Kiribati, Korea, Kyrgyzstan, Lao People’s Democratic Republic, Malaysia, the Maldives, the Marshall Islands, Mongolia, Nauru, New Zealand, Pakistan, Papua New Guinea, the Philippines, Samoa, Singapore, the Solomon Islands, Sri Lanka, Thailand, Timor-Leste, Tokelau, Vanuatu and Viet Nam. Additionally, it provides information on non-tax revenues for 22 of the 36 economies. The publication applies the OECD Revenue Statistics methodology to Asian and Pacific economies, facilitating consistent comparison of tax levels and structure...

25Jun

By Online DeskNo Comments

Asia, China, Market, USA, World

OECD Economic Surveys: United States 2024

The United States economy has continued to expand at a solid pace and price pressures have eased somewhat. However, a sustained fiscal deficit has contributed to raising public debt as a share of GDP to its highest level since World War II, with a further substantial increase in prospect over coming decades as the population ages. To put the public finances on a more sustainable path, a multi-year fiscal adjustment should be enacted that achieves savings on pensions and healthcare and raises taxation, including on capital incomes. A more medium-term oriented and less complicated federal budgeting process would support this. At the same time, economic growth would benefit from productivity enhancing reforms that promote competition, including through maintaining international trade opennes...

18Jun

By Online DeskNo Comments

Asia, China, Market

Measurement of health human capital and its economic effect in China

Improving individual health not only enhances labor productivity but also boosts the productivity of society as a whole. China’s economic development is in urgent need of transitioning from being driven by factors to being driven by innovation, which places higher demands on Health Human Capital (HHC). An evaluation system consisting of 18 indicators across four dimensions—basic health, preventive healthcare, medical resources, quality, and healthy environment—was used to calculate the HHC index of 31 provinces and cities in China from 2005 to 2019 using the entropy method. Following that, this study assessed the influence of HHC on economic growth using endogenous growth theory and the Corgis production function. Firstly, we discovered that the level of home healthcare services in China ...

17Jun

By Online DeskNo Comments

Asia, Market, USA, World

US July 2024 visa bulletin: Big leaps for Indians in Green Card category

The July Visa Bulletin has brought a notable shift in various visa categories. The US State Department has retrogressed the EB-3 All Other Countries category. In the EB-1 category, India has moved forward by 11 months, now at February 1, 2022. This is a big change, marking significant progress for applicants in this category. On the other hand, the EB-2 category for India has advanced by two months, reaching June 15, 2012. What is the US Visa Bulletin? The Visa Bulletin lists priority dates, essentially placeholders in the green card application line. Each month, the US Department of State calculates how many applications are waiting in each category, helping them estimate when different applicants might be able to move forward. These dates in the Visa Bulletin indicate the earli...

17Jun

By Online DeskNo Comments

Asia, Market, World

Six imperatives for credit unions to secure their future

Credit unions in the United States are at a crossroads. Their membership ranks are aging, and young people don’t always see credit unions’ offerings as a good value. That means credit unions need to work harder to attract younger members, or risk fading into irrelevance. (For more details on credit unions—what are they exactly and who can join one—see sidebar, “A brief history of credit unions.”) US credit unions have had a strong run in recent years. Since 2018, loans at credit unions have grown 8.8 percent a year, on average,1 compared with 8.0 percent a year for bank loans,2 while deposits at credit unions have risen 9.0 percent, compared with 8.9 percent for bank deposits. Despite these positive trends, 2023 was a difficult year for US credit unions, as ROA for the sector fell 23.5...

13Jun

By Online DeskNo Comments

Asia, China, Market, World

June 2024 Fed meeting: Fed maintains current policy rate and sees only one rate cut in 2024

Key takeaways During its June meeting, the Federal Reserve (Fed) unanimously voted to hold policy rates steady for the seventh consecutive time, leaving the Fed Funds Target Rate unchanged at 5.25% to 5.50%. The much-anticipated Summary of Economic Projections (SEP) broadly met expectations with a higher inflation forecast for 2024 and less easing this year; The median FOMC member called for one 25 basis point cut by the end of this year and four 25 basis point cuts in 2025. Within the Fed’s economic projections, the most significant update was the expectation that core inflation will move to 2.8% for year-end from 2.6%. This increase is likely due to strong first quarter inflation. Chair Powell underscored that the Fed’s decision on the direction of rates continues to b...

<strong>MERICS report claims Chinese investments in Europe in 2023 fell to the lowest in 13 years</strong>

12Jun

By Joe RodriguezNo Comments

Asia, China

MERICS report claims Chinese investments in Europe in 2023 fell to the lowest in 13 years

Chinese investment in Europe last year dropped to the lowest in 13 years since 2010, according to an annual report published on June 6 jointly by independent research provider Rhodium Group and German think tank e Mercator Institute for China Studies (MERICS). As per the report, Chinese direct investment (FDI) in Europe (defined here as the EU-27+UK) slipped again to EUR 6.8 billion last year (2023), from EUR 7.1 billion in 2022, and it was the lowest level since 2010. The report shows that Chinese corporate investors faced challenges and uncertainties last year from a mix of political and economic factors in Europe and globally, while uncertainty about the global economy impacted the investment environment for Chinese firms, amid rising geopolitical tensions that inc...

11Jun

By Online DeskNo Comments

Asia, Market, World

Global Growth Is Stabilizing for the First Time in Three Years

WASHINGTON, June 11, 2024—The global economy is expected to stabilize for the first time in three years in 2024—but at a level that is weak by recent historical standards, according to the World Bank’s latest Global Economic Prospects report. Global growth is projected to hold steady at 2.6% in 2024 before edging up to an average of 2.7% in 2025-26. That is well below the 3.1% average in the decade before COVID-19. The forecast implies that over the course of 2024-26 countries that collectively account for more than 80% of the world’s population and global GDP would still be growing more slowly than they did in the decade before COVID-19. Overall, developing economies are projected to grow 4% on average over 2024-25, slightly slower than in 2023. Growth in low-income economies is ex...

6Jun

By Online DeskNo Comments

Asia, Market, Singapore

India attends Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting in Singapore

Indian delegation led by Secretary, Department of Commerce, Shri Sunil Barthwal participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting held in Singapore on 6 June 2024. The IPEF Ministerial Statement of 14 November 2023 declared substantial conclusion of negotiations for Clean Economy, Fair Economy, and the overarching Agreement on the Indo-Pacific Economic Framework for Prosperity. Pursuant to this, the IPEF partners completed legal review of the text for these agreements and domestic approval processes. Today, IPEF members signed these agreements which are first-of-their-kind approaches to addressing 21st century challenges and strengthening economic engagement across a critical region. India actively participated in the signing proceedings a...

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