China Archives - Page 22 of 76

Malaysia and other Asian economies prepare for the effects of the Trump trade war as tariffs present both opportunities and risks.

11Nov

By Brian ThompsonNo Comments

Asia, China, Market, Singapore, USA, World

Malaysia and other Asian economies prepare for the effects of the Trump trade war as tariffs present both opportunities and risks.

Some Asian countries stand to gain if US president-elect Donald Trump pushes ahead with his promised massive tariffs on China and triggers a new wave of factory relocations to the rest of the region. But a trade war between the world’s biggest economies would also destabilise markets everywhere, with Asia — which contributes the largest share of global growth — the most affected. Trump, who won a crushing presidential victory this week, vowed during his campaign to slap 60 per cent tariffs on all Chinese goods entering the United States in an attempt to balance trade between the two nations. Analysts however question whether the new president will stick to such a high figure, and dispute the blow such tariffs could inflect on the Chinese economy, estimating GDP could be lowered b...

Asian Financial Institutions Are at Risk Due to AI Adoption Lag in the Face of Increasing Financial Crime

11Nov

By Brian ThompsonNo Comments

Asia, China, Market, Singapore, USA, World

Asian Financial Institutions Are at Risk Due to AI Adoption Lag in the Face of Increasing Financial Crime

AI-based transaction monitoring, sanctions screening, and fraud prevention deliver proven benefits as adoption gains traction New research from SymphonyAI and Regulation Asia reveals legacy systems, data quality, model explainability, data privacy, and regulatory uncertainty hinder AI adoption in financial crime compliance. Only 15% of Asian FIs report "advanced" AI integration in their compliance functions, leaving significant untapped potential. Financial crime, particularly money laundering, represents an escalating threat, accounting for up to 6.7% of global GDP. Palo Alto, Calif., (ANTARA/PRNewswire)- SymphonyAI, a leader in predictive and generative artificial intelligence (GenAI) SaaS products for the enterprise, today launched a new report with Regulation Asia, revea...

31Oct

By Brian ThompsonNo Comments

Asia, China, Market

Asia Economic Monthly: Exposure to China in Asia

Australia and Singapore are the most exposed to China growth due to strong economic linkages via the commodity and trade channels, respectively. The Philippines and India are the least exposed due to weak trade and investment linkages with China. The spillover from China to the rest of Asia has weakened over the last decade due to the fall in Asia’s export share to China. China’s policy blitz China’s recent stimulus blitz is the latest addition to the various uncertainties weighing on Asia’s economic outlook. Since September 24, the nation has announced monetary policy easing, liquidity support for equity markets, government pledges to arrest the property market decline, and reports of fiscal support in the pipeline. Nomura’s China economics team has lifted its Q4 2024 GDP fo...

31Oct

By Joe RodriguezNo Comments

Asia, China, Market

The October manufacturing PMI for China resumed its upward trajectory.

China's manufacturing PMI surprisingly returned to expansion China's PMI beat expectations with an uptick to 50.1 in October, which marked the first expansion since April, and marked a six-month high. The 50.1 level is the smallest possible expansion for the PMI but nonetheless bucks expectations for continued contraction, and is a positive sign that the small bounce back of industrial production that we saw in September could continue. Looking at the subindices, there are some signs that the domestic situation could be seeing a gradual improvement. The production subindex hit a six-month high of 52.0, and new orders also returned to a neutral state of 50.0 after contracting the previous five months. While still in contraction, employment (48.4 up from 48.2...

<strong>China’s relentless pursuit of U.S. technology</strong>

29Oct

By Joe RodriguezNo Comments

China, USA

China’s relentless pursuit of U.S. technology

In recent years, the United States has faced an unprecedented challenge in safeguarding its technological advancements and intellectual property from a persistent and resourceful adversary: China. A series of high-profile cases have highlighted the extent of China's efforts to acquire sensitive U.S. technology, often through illegal means. These incidents not only threaten America's economic interests but also pose significant risks to national security. The case of Chen Lin, a 65-year-old Chinese national who recently pleaded guilty to illegally exporting U.S. semiconductor equipment, exemplifies the ongoing struggle to protect critical technologies. Chen's attempt to procure a wafer-cutting machine for Chengdu GaStone Technology, a company on the U.S. Entity List, underscores the...

<strong>IMF on China’ growth: falling and impacting others</strong>

27Oct

By Joe RodriguezNo Comments

China

IMF on China’ growth: falling and impacting others

The International Monetary Fund (IMF) on October 22 presented World Economic Outlook report and found China faltering with a lowered growth forecast to 4.8% in 2024 as compared to 5% in 2023 despite a number of stimulus packages injected by the Xi Jinping’s regime in the recent times. The IMF report highlighted China’s weakening property sector and low consumer spending as the major reasons for its failing economy. IMF has forecasted China’s growth rate to be at 4.5% in 2025 even when there are good number of measures taken such as increased net exports and more funds released to support country’s growth. China’s woes don’t end here as its constant trade war with the United States has resulted in new tariffs being imposed by both the countries on each other and these trade ta...

<strong>Client exodus sparks 70 percent revenue drop for Price Waterhouse Coopers China</strong>

21Oct

By Michael SmithNo Comments

China

Client exodus sparks 70 percent revenue drop for Price Waterhouse Coopers China

Price Waterhouse Coopers (PWC) faces severe repercussions following the Ever Grande financial fraud scandal. Numerous Chinese companies are terminating contracts, potentially costing PWC 561 million Yuan in audit revenue, reducing income by two-thirds. The scandal has also led to major layoffs, with employees sharing farewell messages on Xiao Hongshu, and many former PWC staff actively seeking new positions on job-seeking platform Boss Zhipin. PWC cited external factors and market demand for recent layoffs, heavily affecting the Guangzhou audit department. Similar cuts occurred in Beijing and Shenzhen. The Shanghai office required staff to take 120 unpaid hours while earning only 20% of their salary. PWC also halved the annual income of its highest-earning partners. The Ever Grande...

Shaoguan’s vacant apartments, a representation of China’s real estate crisis

21Oct

By Joe RodriguezNo Comments

Asia, China

Shaoguan’s vacant apartments, a representation of China’s real estate crisis

You have to arrive at night in Shaoguan, a city of 3.3 million people in southeast China, to measure the real estate crisis that has hit the country. Around the high-speed train station, inaugurated in 2019, tower blocks of buildings have sprung up like mushrooms in recent years, creating a gigantic neighborhood. But when night falls, not a single light is on. That’s because Shaoguan is drowning in empty and unsold apartments. At the current sales pace, it will take more than 10 years to sell this stock, compared to an average of two years in China, according to estimates by the China Real Estate Information Corporation. This is a record in the country, which has 28,000 billion yuan ($3.96 billion) worth of available apartments, according to Barclays. “There are so many...

The worldwide market is being revolutionized by China’s electric car sector.

20Oct

By Michael SmithNo Comments

Asia, China, Market, World

The worldwide market is being revolutionized by China’s electric car sector.

The global electric vehicle market has become a critical component in the transition towards a low-carbon future. At the forefront of this revolution is China, whose rapid ascent in the EV industry has left global automakers scrambling to keep pace. Despite trade tensions and tariffs aimed at curbing its dominance, China remains the undisputed leader in the sector, producing more than 60% of the world’s EVs. China’s success in the electric vehicle industry can be traced back to a combination of forward-thinking policies, substantial investments, and a national commitment to innovation. The story begins with a strategic proposal made by Wan Gang, often referred to as the father of the EV movement in China. His vision, presented to the Chinese State Council in 2000, emphasised the need f...

Trump says if China assaults Taiwan, he would impose heavy tariffs.

19Oct

By Joe RodriguezNo Comments

Asia, China, USA, World

Trump says if China assaults Taiwan, he would impose heavy tariffs.

US Republican presidential candidate and former US President Donald Trump said he would impose additional tariffs at “150% to 200%” on China if it were to "go into Taiwan," the Wall Street Journal reported Friday (Oct. 18). When asked whether he would use military force in response to a potential Chinese blockade of Taiwan, Trump said it wouldn’t be necessary because Chinese President Xi Jinping (習近平) respects him. “I wouldn’t have to, because he respects me and he knows I’m f— crazy,” Trump stated. During his presidency from 2017 to 2021, Trump took an aggressive stance on China. He imposed multiple rounds of tariffs that triggered a trade war and affected the global economy, according to Reuters. Trump also addressed Russia’s invasion of Ukraine in the interview,...

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