Asia Economy
China’s Communist Party removes ex-foreign, defence ministers from top body
High Representative for Foreign Affairs Josep Borrell was due to meet Chinese Foreign Minister Qin Gang, pictured on May 23, 2023 in Beijing, China. (Photo by Thomas Peter-Pool/Getty Images) Pool | Getty Images News | Getty Images China’s Communist Party removed its former foreign and defence ministers, Qin Gang and Li Shangfu, from its Central […]
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U.S.-China tensions are not a ‘new Cold War,’ veteran Singapore diplomat Bilahari Kausikan says
NEW YORK, NY – SEPTEMBER 19: AMB. Bilahari Kausikan, Ministry of Foreign Affairs of Singapore speaks at The 2017 Concordia Annual Summit at Grand Hyatt New York on September 19, 2017 in New York City. Paul Morigi | Getty Images Entertainment | Getty Images While some may characterize tensions between the U.S. and China as […]
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Asia chip stocks tumble amid news the U.S. may consider trade curbs
The moves from the U.S. came after Bloomberg on Wednesday reported that the Biden administration is thinking about clamping down on firms exporting their critical chipmaking equipment to China. Wong Yu Liang | Moment | Getty Images Chip stocks in Asia tumbled on Thursday following a tech selloff on Wall Street amid reports the U.S. […]
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TSMC second-quarter profit beats expectations as AI chip boom continues
TSMC offices in San Jose, California, US, on Thursday, April 18, 2024. David Paul Morris | Bloomberg | Getty Images Taiwan Semiconductor Manufacturing Company on Thursday beat revenue and profit expectations in the second quarter, as demand for advanced chips used in AI applications continue to surge. Here are TSMC’s second-quarter results versus LSEG consensus […]
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What would a second Trump presidency mean for China? Goldman Sachs weighs in
Chinese President Xi Jinping and former U.S. President Donald Trump in Beijing, China, in 2017. Artyom Ivanov | TASS | Getty Images BEIJING — If Donald Trump wins the U.S. presidential election, his plans for 60% tariffs on Chinese goods could be a “major downside growth risk” to China, according to Goldman Sachs. Chances of […]
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Asia-Pacific markets set to mostly fall after Nasdaq records its worst day since 2022
Japan’s Nikkei 225 has been the top performer this year, among large economy stock indexes in Asia and many believe that stocks in the region have more room to run in 2024. Marco Bottigelli | Moment | Getty Images Asia-Pacific markets were mostly set to decline after the Nasdaq Composite fell nearly 2.8% overnight — posting […]
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IMF raises India’s economic outlook, says global growth will remain lackluster
The IMF said it is optimistic on Chinese consumption returning in the next few years, but falling birth rates will still cause an economic down. Martin Puddy | Photodisc | Getty Images The International Monetary Fund has upgraded its economic forecast for India for 2024, while warning that growth will dip in the following year. […]
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Asia-Pacific markets climb, tracking gains on Wall Street; yen intervention suspected
Cherry trees in bloom near the Nippon Budokan in Tokyo, Japan, on Sunday, April 7, 2024. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets rose on Wednesday after the Dow Jones Industrial Average and the S&P 500 closed at record highs overnight as traders become increasingly bullish on interest rate cuts. Japan’s Nikkei 225 rose […]
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Temasek aims to invest up to $10 billion in India as China weighs
Beautiful and colorful aerial view of Mumbai skyline during twilight seen from Currey Road, on Feb. 16, 2022 in Mumbai, India. Pratik Chorge | Hindustan Times | Getty Images Singapore state investor Temasek plans to invest up to $10 billion in India over three years in sectors such as financial services and healthcare, a top executive said on Monday, favoring the South Asian nation as […]
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Foreign carmakers in China face ‘increasingly precarious’ position, consultancy says
Newly produced electric vehicles are being seen at Tesla’s Shanghai Gigafactory in Shanghai, China, on December 31, 2023. Costfoto | Nurphoto | Getty Images BEIJING — New tariffs on Chinese electric cars aren’t enough to help foreign automakers stay competitive, especially in the lucrative China market, according to consulting firm AlixPartners. China is the world’s […]
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