23 April 2017

Macro Economy

  • China is the largest national producer of steel and makes far more steel than it consumes, selling the excess output overseas, often undercutting domestic producers. Photo: Reuters

    Trump orders national security probe into cheap China steel

    Apr 21, 2017 8:03am
    US President Donald Trump launched a trade probe against China and other exporters of cheap steel, raising the possibility of new tariffs, Reuters reports. Citing concerns about national security, Trump made the announcement on Thursday at...
  • While millennials prefer autonomy, a survey found that Gen Zers value job security and are more likely to stay with a company longer. Photo: Bloomberg

    Paving the hiring road for Generation Z

    - Apr 20, 2017 3:01pm
    Just as companies, marketers and recruiters thought they were starting to understand millennials and their unique characteristics – a new demographics’ coming-of-age is set to see more changes in 2017. How different can the two generations...
  • Growth in infrastructure and real estate investment has accelerated from last year and helped offset slightly weaker growth in the services sector. Photo: Reuters

    Stimulus drives China’s strongest economic growth since 2015

    Apr 18, 2017 8:27am
    China’s economy grew faster than expected in the first quarter as higher government infrastructure spending and a gravity-defying property boom helped boost industrial output by the most in over two years. Growth of 6.9 percent was...
  • The Republicans must now choose between passing their tax cuts and pursuing a much more modest reform. Photo: Bloomberg.

    A fiscal reality test for US Republicans

    - Apr 11, 2017 3:54pm
    US President Donald Trump’s first major legislative goal – to “repeal and replace” the 2010 Affordable Care Act (“Obamacare”) – has already imploded, owing to Trump and congressional Republicans’ naiveté about the complexities of healthcare reform....
  • Compared with Shenzhen, Pudong and Hainan, Xiongan has no distinct edge yet, other than its proximity to Beijing. Policy initiatives to boost its competitiveness are hence likely to be rolled out in the next few years. Photo: Miaopa

    Xiongan potential could take years to realize

    - Apr 6, 2017 11:15am
    China recently announced its Xiongan New Area development plan and policymakers described it as “a strategy crucial for a millennium to come”. In fact, since 1949, the Communist Party has only named two other projects as...
  • For the past two years, China's central bank has spent over US$1 trillion to prop up the yuan's value – not to push it down. Photo: Reuters

    Trump unlikely to declare China currency manipulator

    Apr 6, 2017 7:59am
    US President Donald Trump looks unlikely to formally declare China a currency manipulator next week, just days after meeting Chinese President Xi Jinping, Reuters reports, citing foreign exchange policy experts. The US Treasury would have to...
  • Of America’s top 15 trading partners, 11 are former aid recipients. However, only one in 100 people in a recent survey knows that global poverty has been reduced by half. Photo: Reuters

    The truth about development aid

    - Apr 5, 2017 12:13pm
    US President Donald Trump’s recently released 2018 budget blueprint proposes deep cuts in US foreign aid, prompting a discussion on the role of such spending in improving the health and well-being of the world’s most vulnerable...
  • It is unhelpful to stoke fears about robots and to frame the issue as “artificial intelligence taking American jobs”. Photo: Bloomberg.

    Artificial intelligence and artificial problems

    - Apr 5, 2017 11:27am
    Former US Treasury secretary Larry Summers recently took exception to current US Treasury Secretary Steve Mnuchin’s views on artificial intelligence (AI) and related topics. The difference between the two seems to be, more than anything else,...
  • Jeffrey Lacker says he may have disclosed confidential information about Fed policy options to a Wall Street analyst in 2012. Photo: Reuters

    Fed official quits over leak of market-sensitive news

    Apr 5, 2017 8:42am
    Richmond Federal Reserve president Jeffrey Lacker abruptly left the US central bank on Tuesday after admitting that a conversation he had with a Wall Street analyst in 2012 may have disclosed confidential information about Fed policy...
  • India’s Finance Minister Arun Jaitley has described the goods and services tax reform as ‘revolutionary’. Photo: Reuters

    India lawmakers pass GST bill in big win for Modi

    Mar 30, 2017 9:14am
    Indian lawmakers on Wednesday passed the Goods and Services Tax (GST) bill, setting the stage for the country to replace a bevy of federal and state sales taxes with a single nationwide levy. Following the key...
  • The HK-Zhuhai-Macao Bridge and the cross-border rail link will further improve connections between cities in the Guangdong-Hong Kong-Macau Bay Area. Photo: China Daily

    What Guangdong-Hong Kong-Macau Bay Area means for HK

    - Mar 27, 2017 4:52pm
    Hong Kong’s Chief Executive-elect Carrie Lam Cheng Yuet-ngor, while seeking to mend relations with democrats, should also explore new growth opportunities arising from the city’s integration with mainland China. A case in point is the proposed Guangdong-Hong...
  • Rising interbank rates keep Chinese equities in check. Photo: Reuters

    Why China equities are stuck in a range

    - Mar 24, 2017 4:47pm
    The Shanghai Composite Index has been hovering around 3,200 points for more than a month, with the overall turnover of the Shanghai and Shenzhen bourses at about 500 billion yuan (US$72.53 billion) most of the time....
  • Taiwan's stimulus program has the potential to create around 40,000 to 50,000 jobs, the cabinet said. Photo: Xinhua

    Taiwan unveils US$29 bln package to boost economy

    Mar 24, 2017 8:05am
    Taiwan has unveiled a NT$882.4 billion (US$29 billion) stimulus package to boost its export-driven economy in the face of uncertainty from its two largest trading partners, the United States and China. The stimulus plan will be...
  • US Treasury Secretary Steven Mnuchin has asked the International Monetary Fund for a “frank and candid analysis” of member countries’ exchange-rate policies to determine whether China is a currency manipulator. Photo: Reuters

    Mnuchin’s mission

    - Mar 23, 2017 10:39am
    US Treasury Secretary Steven Mnuchin is hemmed in on all sides. Domestically, he is trapped between the promises he has made (such as the “Mnuchin rule” that taxes wouldn’t be cut for the rich), the actions...
  • The bond connect program extends the capital market links with China and would further cement Hong Kong’s status as China’s major offshore renminbi hub and offshore financial center. Photo: Reuters

    Why bond connect sheme is important to Hong Kong

    - Mar 20, 2017 4:43pm
    China will allow foreign investors to buy onshore bonds via Hong Kong this year, Premier Li Keqiang said at a press conference in Beijing after the close of the annual National People’s Congress. The bond connect...
  • An aerial view of a golf course used as the site of am anti-missile defense system in Seongju in North Gyeongsang Province, South Korea. Photo: AFP

    South Korea complains to WTO over China’s THAAD response

    Mar 20, 2017 3:40pm
    Seoul has complained to the World Trade Organization (WTO) about China’s retaliation against South Korean companies over the deployment of a US anti-missile defense system in the South. “We have notified the WTO that China may...
  • Through a combination of inventory de-stocking, stimulation of private consumption and more infrastructure spending, China managed to reverse the economic downturn last year. Photo: Reuters

    China macro outlook improving

    - Mar 20, 2017 11:07am
    China is aiming to expand its economy by about 6.5 percent in 2017 compared with the goal of 6.5 to 7 percent last year. But it is noteworthy that the target refers to real gross domestic...
  • Brazil's President Michel Temer, accompanied by several ambassadors from meat-importing nations, partakes of barbecue at a steakhouse in Brasilia on Sunday. Photo: Reuters

    Brazil president seeks to calm health fears over beef exports

    Mar 20, 2017 8:27am
    President Michel Temer, confronting a corruption scandal tarnishing Brazil’s lucrative meat industry, met with executives and foreign diplomats to assuage their health concerns over a sector responsible for US$12 billion in annual exports. The hastily called...
  • The Trump administration has no desire to get into trade wars, but wants certain issues to be re-examined, says Steven Mnuchin. Photo: Bloomberg

    Trump doesn’t want trade wars; just seeks fair deals: Mnuchin

    Mar 17, 2017 8:09am
    The Trump administration doesn’t wish to get into trade wars, but it feels certain things need to be re-examined to ensure a better deal for American workers, US Treasury Secretary Steven Mnuchin said on Thursday. At...
  • China's President Xi Jinping (left) and Saudi Arabia's King Salman bin Abdulaziz Al-Saud attend an event at the National Museum in Beijing on Thursday. Photo: Reuters

    China, Saudi Arabia eye US$65 billion in deals

    Mar 17, 2017 8:08am
    Saudi Arabia’s King Salman oversaw the signing of deals worth as much as US$65 billion on the first day of a visit to Beijing on Thursday. The deals included a memorandum of understanding (MoU) between giant...

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