Asia Economy
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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Returning to the office can be costly. Here are 3 ways to beat rising costs
According to a new survey by Cisco, 75% of respondents said they save money on food and entertainment through hybrid work schedules. D3sign | Moment | Getty Images Hybrid work arrangements are popular these days for many reasons — and one of them is that they can save workers thousands each year. A new survey […]
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Toyota to cut global production plan by 100,000 in June
Toyota cars are displayed on the sales lot at Toyota of Marin on May 11, 2022 in San Rafael, California. The company will cut its global production plan by about 100,000 to roughly 850,000 vehicles in June due to the semiconductor shortage, it said on Tuesday. Justin Sullivan | Getty Images News | Getty Images […]
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Why China will likely recover more slowly from the latest Covid shock
As Shanghai tries to reopen businesses, one downtown district over the weekend banned residents from leaving their apartment complexes again for mass virus testing. Pictured here, in another district on May 21, 2022, is a line outside a shopping mall. Xu Kaikia | Visual China Group | Getty Images BEIJING — China’s economy won’t be […]
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