World Archives - Page 14 of 289

<strong>Elon Musk: China’s EV dominance a threat to local players</strong>

29Jan

By Mike TrudellNo Comments

China, Market, World

Elon Musk: China’s EV dominance a threat to local players

Tesla maker Elon Musk has been critical of China’s rising authority in the EV market. He has called for global trade barriers in the EV market otherwise Chinese player BYD will demolish the local players. Musk’s comments are in response to “unimaginable” performance by Warren Buffett’s backed Chinese automaker BYD. BYD has surpassed Tesla as the world’s top-selling EV company in the last quarter. Tesla has been marred by slowing sales in the United States even after a price cut in 2023, while BYD’s cheaper EVs has propelled the Chinese automaker at the top spot. Musk while addressing a group of analysts accepted the competitive nature of Chinese carmaker BYD and predicted its success outside China, unless there are suitable trade barriers in place. He feels without any trade barrier...

What economic future does Bangladesh face?

22Jan

By Brian ThompsonNo Comments

World

What economic future does Bangladesh face?

In 2023, Bangladesh experienced the worst macroeconomic instability in recent years. While until 2019, the country was cited as a successful case of macroeconomic stability, the Covid-19 pandemic inflicted a significant scar in 2020 and 2021. While the economy went through a recovery process in late 2021 and early 2022, the war in Ukraine and resultant global supply shock triggered domestic macroeconomic instability, which persists. The crisis has affected the economy through various channels. The monthly average inflation rate (January-November) increased from 7.6 percent in 2022 to 9.5 percent in 2023. Export earnings increased by only 2.4 percent in January-November 2023 compared to the same period in 2022. Remittance growth through formal channels was only 1.7 percent in January-No...

India’s fintech boom: A roadmap for inclusion and growth in the budget?

22Jan

By Joe RodriguezNo Comments

Asia, World

India’s fintech boom: A roadmap for inclusion and growth in the budget?

As India's vibrant fintech industry gears up for another leap, the upcoming Union Budget 2024 carries immense weight. On February 1st, Finance Minister Nirmala Sitharaman's decisions will shape the trajectory of this rapidly evolving sector, impacting not just millions of financial service providers but also the broader quest for financial inclusion and economic growth. India Fintech Credit Fund: A dedicated fund offering affordable financing to fintech companies, particularly small and medium players, could unlock vital growth opportunities. Tax breaks for financial inclusion: Incentivising fintechs operating in underserved areas is crucial to bridging the financial gap and empowering marginalized communities. GST rationalization measures would further ease this journey. Empower...

China’s Economy Expanded in the Previous Year, but There Are Still Issues with the Data

22Jan

By Brian ThompsonNo Comments

World

China’s Economy Expanded in the Previous Year, but There Are Still Issues with the Data

Gross domestic product expanded 5.2 percent, as China worked to export more to make up for weak demand, high debt and a steep property contraction at home. Car production set records in China last year. Restaurants and hotels were increasingly full. Construction of new factories surged. Yet China’s economic strengths conceal weaknesses. Deep discounts helped drive car sales, particularly for electric cars. Diners and travelers chose cheaper dishes and less expensive hotels. Many factories ran at half capacity or less because of weak demand inside China, and are working to export more to make up for it. China’s economy grew 5.2 percent last year as it rebounded from nearly three years of stringent “zero Covid” pandemic control measures, the country’s National Bureau of Statistics ...

At the NAM Summit, Uganda’s president praises the contribution of the Indian diaspora to economic prosperity.

21Jan

By Brian ThompsonNo Comments

World

At the NAM Summit, Uganda’s president praises the contribution of the Indian diaspora to economic prosperity.

Ugandan President Yoweri Museveni expressed admiration for the substantial contributions of Indian returnees to his country's economic development, during the 19th Non-Aligned Movement (NAM) Summit in Kampala. Commending their achievements, he highlighted the 900 factories built by Indian returnees since their arrival. "I was asking people how many factories have been built by our Indian returnees. They told me about the 900 factories that they had built since they came back.", he said. Reflecting on Uganda's history, especially the expulsion of Asians, mainly Indian Ugandans, during Idi Amin's regime, President Museveni openly acknowledged the government's past mistakes. He highlighted the adverse consequences of Amin's actions, including the economic impact on Uganda. Notably, Ind...

According to a research, Pakistan had its greatest economic problems in 2023.

20Jan

By Joe RodriguezNo Comments

World

According to a research, Pakistan had its greatest economic problems in 2023.

Pakistan remained exceedingly vulnerable to climate change and faced rates of warming considerably above the global average, as per the report. Human Rights Watch (HRW) has said that Pakistan faced one of the worst economic crises in its history in 2023, with poverty, inflation and unemployment soaring, jeopardising millions of people's rights to health, food and an adequate standard of living, Dawn newspaper reported. A dark street in a commercial area in Lahore, Pakistan.(Bloomberg)A dark street in a commercial area in Lahore, Pakistan.(Bloomberg)In its 740-page 'World Report 2024', made available on Friday, the HRW reviewed human rights practices in more than 100 countries, and observed that the insistence of the International Monetary Fund (IMF) on austerity and the removal of s...

19Jan

By Walter ParezNo Comments

World

How India’s Economy Will Be Driven by Real Estate

As India marches forward on its path to becoming a global powerhouse, one sector stands tall as the vital engine of growth and employment: the real estate industry. Second only to the agriculture sector, the dynamic sector holds the mantle as the second-highest employment generator in the country while contributing about 11% to Gross Value Added (GVA) growth since 2011-12 . Further, beyond the bricks and mortar, the real estate sector is expected to touch a US$ 1 trillion market size by 2030. This will account for 18-20% of India's GDP — acting as a catalyst that propels the nation's economy to new heights. During this year's, National Investiture Ceremony of Confederation of Real Estate Developers Associations of India , the Union Minister of Commerce and Industry, Piyush Goyal, ackno...

Which party’s economy performed better, the UPA or the NDA? Growth rates don’t provide a whole picture.

19Jan

By Joe RodriguezNo Comments

World

Which party’s economy performed better, the UPA or the NDA? Growth rates don’t provide a whole picture.

Election season is approaching and understandably there is a need to assess performance—economic and political. For political performance, the outcome of the 2024 election is not known. But we can compare the economic performance of the Narendra Modi-led BJP government with that of the previous Congress dispensation during the high growth period from 2004 to 2013. Such a comparison is useful to understand, evaluate, and compare economic policies and their outcomes on economic growth. Historically, economies like India and China operated like isolated islands. But starting with the 1991 economic reforms, successive Indian governments have followed a consistent reform policy (with some important failures). A key outcome of the reforms process, both in India and China, has the increased i...

Pakistan takes action to defuse the issue with Iran following fatal airstrikes.

19Jan

By Brian ThompsonNo Comments

World

Pakistan takes action to defuse the issue with Iran following fatal airstrikes.

Pakistan's political and military leaders on Friday moved to de-escalate tensions with Iran after this week's deadly airstrikes by Tehran and Islamabad that killed at least 11 people and marked a significant escalation in fraught relations between the neighbors. The decision was apparently reached at a meeting of Pakistan's National Security Committee, chaired by caretaker Prime Minister Anwaarul-Haq-Kakar on his return home after cutting short his trip to the World Economic Forum in Davos, Switzerland. Pakistan's powerful army chief Gen. Asim Munir attended the meeting. A statement after the meeting said the leadership discussed the situation following the Iranian airstrikes and praised the “professional, calibrated and proportionate response" by Pakistan's military. The committ...

The Gavekal perspective: China investment and the Taiwan survey

18Jan

By Brian ThompsonNo Comments

China, World

The Gavekal perspective: China investment and the Taiwan survey

For once, the opinion polls were on the money. In Taiwan’s election, the Democratic Progressive Party candidate Lai Ching-te won the presidency with just over 40% of the vote, but the DPP lost its parliamentary majority. Of course, the reason the world was watching had little to do with Taiwan per se and everything to do with China. Taiwan is a key reason – although certainly not the only reason – why the majority of international investors today perceive China to be ‘uninvestible’. This perception is a marked turnaround from a year ago, when most investors – myself included – thought China’s post-Covid reopening would lead to a bounce similar to those seen in the US, the UK, Europe, Canada, Australia and elsewhere. Except the bounce might be even more potent, since China had been l...

Subscribe to our newsletter