Asia Economy
Alibaba, Tencent and JD.com all just posted their slowest revenue growth on record
Alibaba, whose headquarters are pictured here on May 26, said its online physical goods GMV in China, excluding unpaid orders, fell further in April, with a “low teens” decline from a year ago. Str | Afp | Getty Images BEIJING — Chinese tech giants Alibaba, Tencent and JD.com have all posted their slowest revenue growth […]
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Japan to restart idled nuclear power plants, says its prime minister
A radiation counter in an obscure corner of vacant lot at Futaba in Fukushima prefecture on Mar 10, 2022. Japan will take firm steps to restart idled nuclear power plants to make maximum use of nuclear power to stabilize energy prices and supply, Prime Minister Fumio Kishida said on Friday. Yusuke Harada | Nurphoto | […]
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Thousands of people are leaving Hong Kong — and now it’s clear where they’re going
They stuck it out during the political protests of 2019. Then they lasted through nearly two years of pandemic. But this year, they say they’ve had enough. Residents of Hong Kong are leaving the city in droves in 2022 — not because they want to, several told CNBC, but because Covid restrictions and what they see […]
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India wants to be the ‘pharmacy of the world.’ But first, it must wean itself from China
India emerged as a large supplier of Covid-19 vaccines, supplying to 75 countries, including Indonesia, where a medical officer injects the vaccine AstraZeneca into a recipient in Bintan island on July 2, 2021. (Photo credit Yuli Seperi / Sijori images/Future Publishing via Getty Images India has embarked on an ambitious plan to cut dependence on […]
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Singapore’s air travel is rebounding despite China’s border restrictions, transport minister says
Air travel in Singapore is recovering and has reached around 40% of pre-Covid levels despite China’s border restrictions, Transport Minister S. Iswaran said. China’s passenger traffic is significant for Singapore, he said. Some 3.6 million Chinese residents traveled to Singapore in 2019, accounting for 13% of total visitors, according to data from the local tourism […]
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South Korea delivers back-to-back interest rate hikes to combat inflation
Signage for Bank of Korea is displayed atop the central bank’s headquarters building in Seoul, South Korea, on Thursday, Aug. 16, 2018. South Korea’s central bank hiked interest rates for a second consecutive meeting on Thursday to wrestle consumer inflation down from 13-year highs, and further raised its projections for prices to rise to their […]
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The Indo-Pacific Economic Framework: What it is — and why it matters
U.S. President Joe Biden formally introduced the Indo-Pacific Economic Framework, or IPEF, this week during his first Asia tour, revealing Washington’s long-awaited Asia-Pacific economic strategy. It comes five years after the U.S. unilaterally withdrew from the Trans-Pacific Partnership, a trade deal signed by 12 countries in Asia-Pacific, North America and South America. With the U.S. […]
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Singapore’s first quarter GDP up 3.7%, matching forecasts
People walk along the Marina Bay promenade next to the financial business district in Singapore on May 9, 2022. Singapore’s economy expanded more than initially estimated in the first quarter, official data showed on Wednesday. Roslan Rahman | Afp | Getty Images Singapore’s economy expanded more than initially estimated in the first quarter, official data […]
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‘Economy is security’: Biden’s Quad trip shows that in Asia, trade and security are one thing
Australian Prime Minister Anthony Albanese, U.S. President Joe Biden, Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida arrive for the Quad Leaders’ Summit in Tokyo on May 24. Saul Loeb | Afp | Getty Images TOKYO — Security deals are important, but in Asia, money talks. Australia, India, Japan and the United […]
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Goldman Sachs expects more China real estate defaults, switches to bear case
Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images BEIJING — Chinese real estate defaults have increased so much that Goldman Sachs analysts have shifted to their worst-case scenario for the riskiest part of the market. Twenty-two China high-yield […]
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