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Economic slowdown’s spread to Asia highlights the need for global policy coordination

The world is in trouble and policymakers need to act fast to stop the global slowdown turning into a widespread rout as it did during the 2008 crash. In theory, we should be living the dream right now as the world economy has enjoyed a great abundance of engineered central bank money over the last decade, interest rates have hit rock bottom and borrowing rates have been super-friendly to consumers and businesses alike.But the capital-intensive, productivity-driven corporate sector revival is… Source link

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Economic improvement in China’s northeast rust belt is just skin deep as state firms continue to bleed

When China’s central government chose Shenyang Machine Tool, a state-owned manufacturing behemoth in the northeastern province of Liaoning, to undergo a programme of reform two years ago, it probably imagined it would provide a yardstick for the broader regeneration of the region as a whole.It could not have been more wrong.While the provincial authorities reported growth of 6.1 per cent in the first quarter, which was on a par with the national figure, little of that upturn came courtesy of… Source link

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China 

China ignoring US demand for trade war reform by reinforcing state-directed economic model

China is reinforcing its state-directed economic model despite demands for change from the United States as a condition to end the trade war, and is in fact increasing the influence of state-owned enterprises and the Communist Party’s intrusion into the boardrooms of private companies, as highlighted by a string of recent events.On Monday, the State-owned Assets Supervision and Administration Commission (SASAC), which directly supervises more than 50 trillion yuan (US$7.3 trillion) of state… Source link

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Vietnam 

FDI sector plays crucial role in Việt Nam’s economic growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Workers manufacture mechanical tools at the Japan-invested Kyouwa company, based in the Long Hậu industrial park of the southern province Long An. Foreign direct investment has contributed a great deal to Việt Nam’s impressive economic growth in recent years. — VNA/VNS Photo Danh Lam HÀ NỘI ­— Việt Nam’s economy grew at 6.71 per cent in the second quarter of 2019, down from 6.79 per cent in the first quarter. The finding was presented in a macroeconomic report released on Thursday by the Institute for Economic and Policy Studies (VEPR). VEPR…

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From Donald Trump to Brexit and Europe’s new right, populism is driven by both cultural and economic anxiety

Is it culture or economics? That question frames much of the debate about contemporary populism. Are Donald Trump’s presidency, Brexit and the rise of right-wing nativist political parties in continental Europe the consequence of a deepening rift in values between social conservatives and social liberals, with the former having thrown their support behind xenophobic, ethno-nationalist, authoritarian politicians? Or do they reflect many voters’ economic anxiety and insecurity, fuelled by… Source link

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China 

China’s tech sector faces ‘hangover after the party’, with trade war and economic slowdown hitting employment

Yang Shao, a Shenzhen-based technology sector headhunter, sees a great deal of uncertainty in the current job market.Far from the gung-ho hiring policies of recent years, tech companies are hesitating at the final stage of the recruitment process, wondering whether they can afford the candidate, or whether they really need them.In some cases, companies fabricate vacancies just to talk to people and get a sense of the job market. This sort of behaviour happened before, but is occurring with… Source link

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US-China trade talks to resume by phone in coming week, Donald Trump’s chief economic adviser Larry Kudlow says

US and Chinese officials will talk by phone in the coming week as they seek to resolve a growing trade war between the two countries, said Larry Kudlow, US President Donald Trump’s chief economic adviser.“They’re on the phone,” Kudlow told reporters at the White House on Wednesday. “They will be on the phone this coming week. And they will be scheduling face-to-face meetings. Lots of communications.”Trump has said a new round of trade talks with China is under way, ending a stalemate between… Source link

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Global 

China’s economic downturn hitting luxury commercial property and yachts in wealthy tech hub Shenzhen

In China’s hi-tech hub of Shenzhen, a confluence of factors, from over-exuberant commercial property developers, to the US-China trade and tech war, to an exodus of foreign investors, are weighing heavily on what was until recently a booming economy.The city – just over the border to the north of Hong Kong – is uniquely exposed to the multitude of headwinds facing the Chinese economy, given its track record of luring foreign capital as a special economic zone, and its status as a hotbed of… Source link

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Vietnam 

VN stocks slip as economic worries return – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An investor looks at his laptop screen displaying stock prices. — Photo tinnhanhchungkhoan.vn Vietnamese shares dropped on Tuesday morning, dragged by banks, petro firms and real estate companies. The benchmark VN-Index on the Ho Chi Minh Stock Exchange fell 0.34 per cent to close at 962.32 points. The VN-Index gained 1.65 per cent on Monday. More than 75.7 million shares were traded on the southern bourse, worth VND1.66 trillion (US$71.3 million). Investors were unable to uphold their positive sentiment following the ratification of the EU-Viet Nam trade agreements as…

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Ecommerce 

Digitisation will bring fundamental economic change and China can set an example, says Alibaba’s CEO

The digital economy has the power to bring “fundamental change” to how economies and businesses operate, according to Daniel Zhang Yong, chief executive of e-commerce giant Alibaba Group Holding.“Generally speaking, China’s infrastructure was not ready … so when the digital economy came along there was an opportunity to rebuild the infrastructure based on the most advanced technology, and apply this infrastructure in all business areas,” Zhang said at a two-day conference hosted by the Luohan… Source link

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