19 November 2018

Macro Economy

  • A worker adjusts flags ahead of a meeting between Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker at the EU Commission headquarters in Brussels on June 3. Photo: Reuters

    Greece delays IMF debt payment

    Jun 5, 2015 8:23am
    Greece has told the International Monetary Fund (IMF) that it will delay a 300 million euro (US$338 million) debt repayment that is due on Friday and that it will bundle all four of its June payments...
  • The WTO says US country of origin labeling rules illegally discriminate against imported livestock from Canada and Mexico. Photo: Internet

    Canada, Mexico seek US$3 bln sanctions against US exports

    Jun 5, 2015 8:21am
    Canada and Mexico will seek approval from the World Trade Organization to impose over US$3 billion in sanctions against US exports in retaliation to contentious meat-labeling laws, Reuters reported. US legislators have signaled they plan to...
  • Removing the cap on deposit rates would mark a landmark reform towards allowing market forces to set the cost of credit in China. Photo: Bloomberg

    PBoC official expects deposit rates to be freed up soon

    Jun 4, 2015 11:48am
    The People’s Bank of China is likely to remove the ceiling on bank deposit rates soon, instead of raising the cap again, according to Sheng Songcheng, head of the PBoC statistics department. The move would mark a...
  • Positive trade data bolsters the view that the US economy is on the mend. Photo: Bloomberg

    US trade gap shrinks the most since early 2009

    Jun 4, 2015 8:19am
    The US trade deficit narrowed to US$40.9 billion in April from a revised March deficit of US$50.6 billion, Commerce Department data showed Wednesday. That came as imports fell 3.3 percent to US$230.8 billion during the month as...
  • Leaders of some of the world's most dynamic economies met at this year's ASEAN Summit in Kuala Lumpur. Photo: Xinhua

    Why Hong Kong is being left out of the ASEAN boom

    - Jun 3, 2015 1:18pm
    As the Chinese economy becomes trapped in the “new normal” of slowing growth, international investors have now found a new darling: the ASEAN countries. Ten members of the Association of Southeast Asian Nations are working toward an...
  • Chinese households still hold only about 5 percent of their total assets in stocks. Photo: Bloomberg

    What have the China ‘bubble’ advocates missed?

    - Jun 3, 2015 10:27am
    There is no doubt that bubbly conditions exist in the A-share market. However, the view that the rapid run-up in Chinese stock prices since mid-2014 has been mostly driven by liquidity and hype ignores the importance...
  • Greece barely managed to make a significant payment last month, and even larger payments fall due throughout the summer. Photo: Bloomberg

    How to default on sovereign debt while minimizing damage

    - Jun 3, 2015 10:21am
    The financial brinkmanship over Greece’s debts has raised the question of whether (or when) the country will default. To be sure, it would be far better for Greece and its creditors to reach a negotiated solution....
  • Greek Prime Minister Alexis Tsipras faces a tough choice on the terms of a deal to unlock fresh aid for his troubled nation. Photo: Bloomberg

    Greece’s creditors draft final offer to unlock aid

    Jun 3, 2015 8:25am
    Greece’s creditors on Tuesday drafted the outlines of a bailout agreement that will be presented to the leftist government in Athens, aiming to break a month-long stalemate. The effort to set the terms for a cash-for-reforms...
  • Growth in China's giant factory sector edged up to a six-month high in May but export demand continued to shrink. Photo: Bloomberg

    China manufacturing PMI edges up but export demand shrinks

    Jun 1, 2015 11:34am
    Growth in China’s giant factory sector edged up to a six-month high in May but export demand continued to shrink, prompting companies to shed workers and fueling worries about a protracted economic slowdown, an official survey...
  • Greek Prime Minister Alexis Tsipras is pushing for a political solution to resolve the nation's economic troubles. Photo: Bloomberg

    Greece seeks quick deal to unlock further aid

    Jun 1, 2015 8:42am
    Greece and its European creditors agreed on the need to reach a cash-for-reforms deal quickly as Athens missed a self-imposed deadline for reaching an agreement to unlock aid, Reuters reported. In a phone call on Sunday...
  • It will soon be easier for affluent Chinese to invest directly in financial and real estate assets abroad. Photo:

    China to make it easier to invest overseas

    May 29, 2015 7:47am
    China plans to make it easier for individuals and companies to invest overseas as it pushes to turn the renminbi into a global currency, The Wall Street Journal reported. The State Council is expected to announce within...
  • US rate hikes may have a stronger impact on Hong Kong than on other Asian economies. Photo: Bloomberg Intelligence

    Hong Kong seen hardest hit by US rate hikes

    - May 28, 2015 7:02pm
    Federal Reserve Chair Janet Yellen has put the first US interest rate rise since 2006 firmly on the agenda for this year. History suggests the consequences of such a move on Asia’s economies could be far-reaching. To...
  • The real test facing Chinese authorities is whether they will resist the urge for intervention and allow market forces to propel the business cycle. Photo: Bloomberg

    Channeling China’s animal spirits

    - May 27, 2015 10:27am
    The People’s Bank of China (PBoC) has cut interest rates for the third time in six months in order to lighten the debt burdens of companies and local governments. But the central bank’s monetary easing –...
  • While the renminbi used to be overvalued, that is no longer so, the IMF says. Photo: Reuters

    Renminbi no longer undervalued: IMF

    May 27, 2015 9:38am
    China’s currency “is no longer undervalued”, the International Monetary Fund (IMF) said. The United States has long suggested that China has manipulated the value of the renminbi to boost its exports. Undervaluation has been a problem...
  • Italy's economy was a bright spot as it emerged from stagnation. Photo: Bloomberg

    Growth in developed countries continues to slow: OECD

    May 27, 2015 7:40am
    Economic growth in developed countries slowed for the second straight quarter early this year, the Organization for Economic Cooperation and Development said. The Paris-based OECD said the combined gross domestic products of its 34 members —...
  • China is going through the biggest capital outflow in its history. Photo: CNSA

    Capital outflow remains a threat to Chinese economy

    - May 26, 2015 6:22pm
    The divergence between China’s economy and its equity market has widened. Since late last year, the Shanghai Composite Index has more than doubled to 4,500 points from 2,100 points. Some people question whether the nation’s economic...
  • If China succeeds in structural rebalancing efforts, its economy will move to a higher level. Photo: Bloomberg

    Why China can avoid the middle income trap

    - May 26, 2015 3:31pm
    Although China’s official data is still showing an economic expansion rate of more than 7 percent a year, which remains an envy of the world, the growth engine is starting to falter. Since the early 2000s,...
  • China has realized that low-value-added final assembly of iPhones and the like is a dead end. Photo:

    How 2025 manufacturing upgrade plan will change China

    - May 26, 2015 1:06pm
    There are moments when the Chinese government’s big-picture thinking comes into sharp focus. The release by the State Council last week of its first blueprint to upgrade the manufacturing sector by 2025 provided just such a...
  • When the US begins raising rates, it will bolster confidence in the markets about the world's largest economy, says Fabrizio Quirighetti of SYZ group. Photo: HKEJ

    US rate hike unlikely before October, says SYZ Asset

    - May 22, 2015 6:02pm
    An interest rate hike in the United States is unlikely to happen before October as the recent data hasn’t provided sufficient comfort to the authorities about economic conditions, according to Swiss asset management firm SYZ. “The...
  • Greek presidential guards march in the center of Athens on Greece's Independence Day. Photo: AFP

    Grexit and global financial stability

    - May 21, 2015 6:39pm
    Half a year ago, things were very different in the eurozone. There was talk of a third bailout package for Greece. It was going to be smaller, but at least there was talk of it. The...

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