Asia Economy
More U.S. companies in China cut forecasts, scale back investments as Covid persists
Truck drivers, such as the one pictured here in Shanghai in late April, typically need to show valid negative virus tests in order to move goods between cities in China. The American Chamber of Commerce in China said members have reported varying implementation of Covid controls depending on city and province. Vcg | Visual China […]
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Philippine central bank chief says he’s ‘not concerned’ about recent peso weakness
There are multiple reasons why the Philippines’ central bank chief, Benjamin Diokno, is “not concerned” about recent weakness in the peso against the dollar. As of Tuesday morning during Asia trading hours, the peso has weakened more than 2.5% against the greenback so far this year. It last traded at 52.38 per dollar, after Reuters […]
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Sri Lanka’s Prime Minister resigns, curfew imposed after clashes
Sri Lankan Prime Minister Mahinda Rajapaksa stepped down as demonstrator’s protest the country’s worst economic downturn. Nurphoto | Nurphoto | Getty Images Sri Lanka’s prime minister resigned on Monday, hours after clashes with pro- and anti-government demonstrators in the commercial capital Colombo amid the country’s worst economic crisis that has spurred protests by thousands. During […]
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Interest rates are surging — here’s how to protect your money
An entire generation is experiencing higher interest rates for the first time in their adult lives. Interest rates have been at historic lows since the global financial crisis — but they’re beginning to creep up. An entire generation of people is experiencing higher interest rates for the first time in their adult lives. Interest rates […]
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Southeast Asia faces a ‘big risk’ of social unrest if food inflation surges, says economist
A supermarket in Indonesia on May 1, 2022. Relative to other countries, food consumption accounts for a large proportion of what people spend on in countries like Indonesia, the Philippines and Vietnam, said economist Mohamed Faiz Nagutha. Adriana Adie | Nurphoto | Getty Images Southeast Asia will face a “big risk” of social unrest if […]
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It would be a ‘big stretch’ to describe Hong Kong’s election as genuine, says consultancy
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email David Dodwell of Strategic Access says it’s apposite that the government in China itself is calling it a “democracy with Hong Kong characteristics.” Source
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Indonesia’s economy maintains steady growth momentum in the first quarter
Morning commuters at a pedestrian crossing in the central business district of Jakarta, Indonesia, on Nov. 5, 2021. Indonesia’s economy grew for the fourth straight quarter between January and March as Covid-19 restrictions continued to be relaxed, statistics bureau data showed on Monday. Dimas Ardian | Bloomberg | Getty Images An historic rise in commodity […]
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China’s Xi urges officials to ‘resolutely fight’ those who question zero-Covid policy
Xi Jinping seen giving a speech during the centenary of the founding of the Chinese Communist Party, in Fuyang on July 1, 2021. From a political perspective, 2022 is a particularly critical year for China, as Xi is expected to gain an unprecedented third term this fall at the 20th National Party Congress, alongside a […]
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European stocks pull back after Wall Street sell-off
The pan-European Stoxx 600 fell 0.7% in early trade, with tech stocks shedding 1.3% to lead losses as almost all sectors and major bourses slid into negative territory. Oil and gas stocks gained 0.5%. The Dow Jones Industrial Average plunged more than 1,000 points and the Nasdaq Composite fell nearly 5% on Thursday, erasing Wednesday’s […]
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Longtime China bull Stephen Roach says there’s ‘no way’ Beijing will meet its 5.5% growth target
China is facing “enormous risk” and at the moment and is unlikely to meet its economic growth target for the year, according to economist Stephen Roach, who has been a longtime bull on the Asian giant. “I’m a congenital bull on China,” Roach told CNBC’s “Squawk Box Asia” on Friday. “That’s not the case for […]
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