World Archives - Page 11 of 303

What do Chinese people think of Xi Jinping’s concerns about the economy?

1Oct

By Walter ParezNo Comments

Asia, China, Market, World

What do Chinese people think of Xi Jinping’s concerns about the economy?

China’s sputtering economy has its worried leaders pulling out all the stops. They have unveiled stimulus measures, offered rare cash handouts, held a surprise meeting to kickstart growth and tried to shake up an ailing property market with a raft of decisions - they did all of this in the last week. On Monday, Xi himself spoke of "potential dangers" and being "well-prepared" to overcome grave challenges, which many believe was a reference to the economy. What is less clear is how the slowdown has affected ordinary Chinese people, whose expectations and frustrations are often heavily censored. But two new pieces of research offer some insight. The first, a survey of Chinese attitudes towards the economy, found that people were growing pessimistic and disillusioned about t...

Wall St ends higher on positive US economic data

28Sep

By Online DeskNo Comments

Market, USA, World

Wall St ends higher on positive US economic data

A string of robust U.S. economic data eased concerns that the Federal Reserve may be cutting rates aggressively to curb any slowdown. Weekly jobless claims fell more than anticipated, signaling a steady labor market, while the final reading of gross domestic product confirmed that the economy grew 3% in the second quarter. "It (the GDP number) just kind of reinforces that strong economic growth backdrop that we have been seeing," said Mike Dickson, head of research at Horizon Investments in Charlotte, North Carolina. The benchmark S&P 500 (.SPX), opens new tab closed up 23.11 points, or 0.40%, at 5,745.37, after rising to a record intraday high of 5,767.37. The blue-chip Dow Jones Industrial Average (.DJI), opens new tab rose 260.36 point...

As per the government’s official estimate, the US economy grew at a pace of 3% last quarter.

27Sep

By Online DeskNo Comments

Market, USA, World

As per the government’s official estimate, the US economy grew at a pace of 3% last quarter.

The American economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said Thursday, leaving its previous estimate unchanged. The Commerce Department reported that the nation's gross domestic product the nation's total output of goods and services growth picked up sharply in the second quarter from the tepid 1.6% annual rate in the first three months of the year. Consumer spending, the primary driver of the economy, grew last quarter at a 2.8% pace, down slightly from the 2.9% rate that the government had previously estimated. Business investment was also solid: It increased at a vigorous 8.3% annual pace last quarter, led by a 9.8% rise in investment in equipment. The U.S. economy, the world...

Bargaining chips: Taiwan’s implications of the Vance Doctrine

26Sep

By Online DeskNo Comments

Market, USA, World

Bargaining chips: Taiwan’s implications of the Vance Doctrine

Donald Trump’s selection of JD Vance as his 2024 running mate has disquieted America’s security partners in Europe and Asia. If America’s 45th president returns as its 47th and a Vice President Vance holds sway, the implications for Europe are clear. Vance argues that President Joe Biden’s arming of the Ukrainians has passed the point of diminishing returns and that it distracts from America’s challenge of greatest import: China’s rise. But while Vance has called for a focus on Asia, what exactly a Vance-inflected foreign policy would mean for the region is not obvious. Vance’s well-documented body of thought on American society, governance, and strategy offers some clues, however, on how he would approach China, Taiwan, and related questions. The theme that ru...

Anti-China EV Laws Won’t Keep America Safe Indefinitely

26Sep

By Online DeskNo Comments

Asia, China, USA, World

Anti-China EV Laws Won’t Keep America Safe Indefinitely

You may look at the auto industry's current chaos in Europe and think that those problems won't come to America. That this country is now taking aggressive steps to protect its auto market with 100% tariffs on Chinese-made EVs or a software ban that will effectively prohibit those cars from being sold here entirely. From that, you may think that it's all problem solved—the U.S. keeps new players from China out for good. But the truth is that these protectionist measures are temporary at best, and even the auto industry seems to get it. Or at least, the smart folks in the business do. That leads off this midweek edition of Critical Materials, our morning roundup of tech and industry news. Also on tap today: Hyundai's online sales program with ...

25Sep

By Online DeskNo Comments

Asia, China, Market, World

The world economy is stabilizing, but it is still weak. These are the main economists’ predictions for the economy.

The global economic outlook is stabilizing amid continuing economic uncertainty. The World Economic Forum's September 2024 Chief Economists Outlook found that a majority of chief economists (54%) expect the condition of the global economy to remain unchanged over the next year while more than a third (37%) expect it to weaken. “There are reasons for cautious optimism such as an easing of inflation and evidence of the resilience of global commerce,” the report notes. “Yet, if the economy is stabilizing, it is doing so at the weakest level in decades.” The Chief Economists Outlook, published three times a year, surveys leading chief economists from across industries and international organizations. The latest edition explores key trends in the global economy, includi...

24Sep

By Online DeskNo Comments

Asia, Market, World

Rate increases will persist even when the Bank of Japan fires in September.

What’s happened? The Bank of Japan (BOJ, the central bank) decided to keep its policy rate unchanged at 0.25% at its policy board meeting on September 20th, pausing after a 15-basis-point increase in July. On the same day, official data showed that headline consumer price inflation accelerated to a 10-month high of 3% in August, from 2.8% in July, following strong growth in prices for food and utilities. Why does it matter? The BOJ is determined to pursue monetary normalisation by raising interest rates and winding down its asset-purchase programmes. However, the pace of the policy shift and the terminal policy rate will depend on Japan’s economic fundamentals, notably the strength of private demand and inflation expectations. The pause in September was factored into EIU’s foreca...

<strong>China is looking all set for a recession</strong>

24Sep

By Brian ThompsonNo Comments

China, USA, World

China is looking all set for a recession

Ray Dalio the owner of American investment management firm, Bridgewater Associates which helps top investors worldwide to grow their money, in a recent interview with Bloomberg television, said that he had sold most of the investments in China. He warned that China was facing serious economic problems. “You have an environment in China which is changing and becoming a more difficult environment,” Dalio said. The trouble is evident in the stock market. The Shanghai Shenzhen CSI 300 index is on a free fall for more than two years. Investors both foreign and domestic are divesting investments to stop loss. Foreign investors are going to other emerging markets. Chinese nationals are holding on cash or buying gold coins and bars to prevent further erosion of personal wealth. “The...

19Sep

By Online DeskNo Comments

Asia, Market, World

The geopolitics of the green transformation in Southeast Asia

As their green-transition efforts are increasingly caught up in the US–China rivalry, Southeast Asian states must find a way to convert potential short-term economic gains into long-lasting ones. With policymakers focused on global geopolitical flashpoints from the South China Sea to Myanmar and the Middle East, Southeast Asia’s growing emphasis on its green transition has generally been an under-appreciated agenda item. Following the latest Association of Southeast Asian Nations (ASEAN) Foreign Ministers’ Meeting in Vientiane in July 2024, however, the meeting’s 36-page Joint Communique highlighted the importance of ‘green growth’ in advancing sustainable development. Indeed, nine out of ten ASEAN members have pledged to achieve carbon neutrality or net-zero emissions by mid...

The Interpreter: Describe “economic statecraft.”

18Sep

By Online DeskNo Comments

Asia, Market, World

The Interpreter: Describe “economic statecraft.”

What is “economic statecraft”? Economic statecraft refers to a state’s use of economic policy instruments to achieve foreign policy objectives. Australia uses various tools of economic statecraft – including development assistance, loans, work visas, investment incentives and travel restrictions – as foreign policy levers to achieve its aims. Another term that is frequently used interchangeably with economic statecraft is geoeconomics. Geoeconomics focuses on the broad strategic interplay between economics and geopolitics, encompassing a wide range of economic policies and global power dynamics. What does economic statecraft include? A useful way to think about economic statecraft is in terms of carrots and sticks or, more formally, incentives or inducem...

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