24 June 2018

Macro Economy

  • Made in China 2025 is part of Beijing's plan to turn China into a global manufacturing power. Photo:

    Trump’s trade policy is all about thwarting Made in China 2025

    - Jun 20, 2018 9:20am
    What’s China’s most significant economic strategy? It’s neither Belt and Road Initiative nor Guangdong-Hong Kong-Macau Greater Bay Area. It’s, in fact, the low-profile Made in China 2025. US President Donald Trump has announced new tariffs on US$50...
  • White House trade adviser Peter Navarro said Beijing had more to lose from a trade war. Photo: Bloomberg

    White House piles pressure on China after Trump tariff threat

    Jun 20, 2018 7:20am
    China has underestimated US President Donald Trump’s resolve to impose more tariffs unless it changes its “predatory” trade practices, a White House trade adviser said. Peter Navarro, who views China as a hostile economic and military...
  • US President Donald Trump said he has asked the US trade representative to identify the Chinese products to be subject to the new tariffs. Photo: Reuters

    Trump threatens new tariffs on US$200 billion of China goods

    Jun 19, 2018 8:38am
    US President Donald Trump threatened to impose a 10 percent tariff on US$200 billion of Chinese goods, escalating a tit-for-tat trade war with Beijing, Reuters reports. In a statement on Monday, Trump said he had asked...
  • China's economic direction is clear, with market reforms working well overall and being expanded in a progressive manner. Photo: Bloomberg

    The rise of Asia

    - Jun 15, 2018 10:29am
    Asia is now clearly emerging from its historic position as the “workshop of the world” towards a millennial and services based set of economies, firmly underpinned by structural reforms across China, India and the other major...
  • The macroeconomic impact of the Trump administration’s tariff moves should not be underestimated, IMF’s Christine Lagarde says. Photo: Reuters

    Trump’s tariffs pose risk to global trade, US economy, IMF warns

    Jun 15, 2018 8:21am
    The International Monetary Fund warned on Thursday that US President Donald Trump’s new import tariffs threaten to undermine the global trading system, prompt retaliation by other countries and damage the American economy, Reuters reports. “Let us...
  • Chinese companies had altered their cashflow management to produce much higher free cash flow generation since 2016. Photo: Bloomberg

    China: Defaults and dividends

    - Jun 14, 2018 12:00pm
    While observers have largely found themselves accommodating stable Chinese growth rather than a slowdown, the headlines have been dominated by corporate bond defaults. This should not have been too surprising observing the liquidity and leverage scores...
  • Fed Chairman Jerome Powell speaks at a news conference in Washington on Wednesday following a two-day meeting of the central bank’s rate-setting committee. Photo: Reuters

    Fed raises rates, signals two more hikes this year

    Jun 14, 2018 8:43am
    The US Federal Reserve on Wednesday raised interest rates for the second time this year and signaled two more hikes in 2018 as the world’s largest economy continues to do well amid falling unemployment and improving...
  • Chinese President Xi Jinping speaks at the Shanghai Cooperation Organization summit in Qingdao on Sunday. Photo: Xinhua

    SCO not yet powerful enough to be a match for G7

    - Jun 12, 2018 12:11pm
    As it turns out, the United States and its western allies have completely failed to narrow their divisions over trade and tariffs in the latest G7 summit. Worse still, there is a chance their divisions may...
  • Demonstrators burn US, Italian and British flags at a protest march during the G7 Summit in Quebec City, Quebec, Canada, on Thursday. Photo: Reuters

    Trump attacks EU and Canada on trade ahead of G7 summit

    Jun 8, 2018 8:52am
    A day before he attends a summit of the Group of Seven rich nations in Quebec, US President Donald Trump said on Thursday that France and Canada charge the United States “massive tariffs” and have non-monetary...
  • Even if the best bet is that any emerging-market bond meltdown would remain contained, today’s jitters ought to be a wake-up call, even for advanced economies. Photo: Bloomberg

    Are emerging markets the canary in the financial coal mine?

    - Jun 7, 2018 9:38am
      Are brewing exchange-rate and debt crises in Argentina and Turkey localized events without broader implications? Or are they early warning signs of deeper fragilities in bloated global debt markets that are being exposed as the...
  • The summit in Charlevoix, Quebec, will be the first chance for G7 leaders to confront US President Donald Trump in person since US tariffs on steel and aluminum imports from Canada, Mexico and the EU were imposed last week. Photo: Reuters

    Trump to stick with hard line on trade as G7 showdown looms

    Jun 7, 2018 8:41am
    US President Donald Trump is not backing down from the tough line he has taken on trade, the White House’s top economic adviser said, setting the stage for a showdown with top allies at this week’s...
  • Malaysia's central bank governor Muhammad Ibrahim is seen as close to the previous government. Photo: HKEJ

    Malaysia’s central bank governor resigns

    Jun 6, 2018 5:18pm
    Malaysia’s Prime Minister Mahathir Mohamad has accepted the resignation of central bank governor Muhammad Ibrahim, Reuters reports. Angered over accusations of massive corruption, Malaysians delivered a shock election result last month by voting out a coalition...
  • China’s Purchasing Managers Index hit 54.1 in May, the highest since December last year. Photo: China Daily

    Will trade row push China back to pursue credit-driven growth?

    - Jun 5, 2018 9:59am
    China and the United States are experiencing a bumpy ride in their trade relations at the moment. Against this backdrop, will China relax its fiscal and monetary policies to stabilize economic growth? Beijing has already started to...
  • US Commerce Secretary Wilbur Ross and Chinese Vice Premier Liu He pose for photographers after their meeting at the Diaoyutai State Guesthouse in Beijing on Sunday. Photo: Reuters

    China warns trade consensus at risk if US imposes tariffs

    Jun 4, 2018 8:46am
    China warned the United States that any agreements reached on trade and business between the two countries will be void if Washington implements tariffs and other trade measures, as the two ended their latest round of...
  • European leaders should acknowledge that national economic policies that worked in the pre-EMU times do not necessarily work now, and definitely not equally in all countries. Photo: Reuters

    Policy proposals in Europe go in all directions

    - May 31, 2018 2:52pm
    Ahead of the EU Summit in June, the discussion about the future structure and governance of the euro area is gaining traction. So far, policy proposals reflect the very heterogeneous views about the ills of the...
  • A file photo from March shows US President Donald Trump holding a signed memorandum on intellectual property tariffs on high-tech goods from China. Credit: Reuters

    US, China WTO envoys spar over ‘forced technology transfer’

    May 29, 2018 8:53am
    Chinese and American envoys sparred at the World Trade Organization (WTO) on Monday over US President Donald Trump’s claims that China steals American ideas, Reuters reports. US Ambassador Dennis Shea said “forced technology transfer” was often...
  • The US shipped 4.76 million tons of sorghum to China in 2017, worth around US$1.1 billion, accounting for the bulk of Chinese imports of the grain used in animal feed and Chinese liquor. Photo: Bloomberg

    China denies it offered to slash US trade gap by US$200 billion

    May 18, 2018 5:28pm
    (Updated; last posted at 3:53 p.m.) China denied on Friday that it had offered a package to slash the US trade deficit by up to US$200 billion, hours after it dropped an anti-dumping probe into US...
  • With oil prices rising to their highest levels since 2014, import-reliant Asian economies have something to worry about. Photo: Bloomberg

    Asia oil bill seen topping US$1 trillion this year

    May 18, 2018 9:35am
    Asia’s oil bill will surpass US$1 trillion this year, about twice as much as in 2015 and 2016, amid a rise in crude prices and a stronger US dollar, Reuters reports. “Asia is most vulnerable to...
  • China is said to have laid out a package that could result in its annual trade surplus with US get trimmed by US$200 billion. Photo: Bloomberg

    China offers Trump package to slash US trade deficit: report

    May 18, 2018 9:09am
    China has offered US President Donald Trump a US$200 billion package of proposed purchases of American goods and other measures aimed at reducing the US trade deficit with China, Reuters reports, citing sources familiar with the...
  • If oil prices rise on the back of reduced Iranian supply, greater economic differentiation is expected across emerging markets. Photo: Reuters

    How might US sanctions on Iran impact oil prices?

    - May 17, 2018 10:10am
    How might US President Donald Trump’s decision to pull out of the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), impact oil prices? And if prices go higher, how could emerging...

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