China 

China economy critic sees ‘turning point’ that could level playing field between private sector and state

A staunch critic of the influence of the state in China’s economy believes there has now been a “turning point” in the treatment of private businesses, arguing a level playing field between state and private firms could emerge in the world’s second largest economy.Nicholas Lardy, senior researcher at the Peterson Institute of International Economics, sees “encouraging” signs due to the support shown by President Xi Jinping from last year after China had initially taken a backwards step on… Source link

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Opinion | What El Niño, pork supply and steel production have in common – they all point to China needing a stronger yuan

A pig on a farm in Changtu county, Liaoning province, on January 17. China is the world’s largest consumer of pork, and thanks to the mass culling of pigs to stop the spread of African swine fever, domestic production is expected to fall at least 4 million tonnes below demand. Photo: Reuters Source link

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Singapore 

Cabby arrested after colliding into pedestrians outside Jurong Point, 2 women taken to hospital, Singapore News

A 63-year-old taxi driver was arrested for dangerous driving after he collided into pedestrian at the junction outside Jurong Point on Saturday morning (Apr 13). Two women, aged 26 and 54, were taken to hospital. Facebook user Cassendra Tay posted photos taken at the scene of the accident and shared what she witnessed. She said she saw the ComfortDelGro taxi hitting the victims, who flew and hit their heads on the road. “Both were bleeding profusely,” she said. In the photos, several passers-by were tending to the women, holding umbrellas…

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Economic data may point to a favourable bounce for investors midyear, but market risks remain

During a game of rugby, players will often chase long kicks downfield to get behind the opposition’s defensive line. If the player can recover the ball, this can be a great strategy, but the oval shape of ball, which allows it to bounce at unexpected angles, makes this challenging. However, a perfectly timed kick and chase when combined with a fortunate bounce that sees the ball rise to the perfect height for the player can often look like sporting magic.After a strong rally in global equity… Source link

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Philippine developer pitches golf fairway views as selling point, but how about Manny Pacquiao for a neighbour

Property developers in the Philippines are capitalising on demand for homes with views of golf fairways, often selling them at a high premium.“Golf courses add value to nearby properties,” said Ferdinand Martin Romualdez, president of the prestigious Manila Golf and Country Club. “The real estate projects facing the club command a premium price because of the good views and the greens.” David Faulkner, managing director for valuation and advisory services at Colliers Asia, said golf courses… Source link

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China 

It’s what they didn’t say – phrases dropped from ‘two sessions’ point to easing of China’s property curbs, according to analysts

President Xi Jinping famously declared in 2017 that “houses are for living in, not for speculation”. The phrase immediately made its way into all official property policy, underpinning measures aimed at reining in China’s runaway house prices.Fast forward to 2019 and things have changed.Xi’s mantra was notably missing from a closely-watched economic report at this year’s legislative meetings in Beijing, as was any mention of a government pledge “to curb the rise of home prices”, first… Source link

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Property 

It’s what they didn’t say – phrases dropped from Two Sessions point to easing of China’s property curbs, according to analysts

President Xi Jinping famously declared in 2017 that “houses are for living in, not for speculation”. The phrase immediately made its way into all official property policy, underpinning measures aimed at reining in China’s runaway house prices.Fast forward to 2019 and things have changed.Xi’s mantra was notably missing from a closely-watched economic report at this year’s legislative meetings in Beijing, as was any mention of a government pledge “to curb the rise of home prices”, first… Source link

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How a likely trade war resolution and the MSCI China weighting boost point to a rise in the yuan

The yuan looks attractive. That may seem an odd assertion when Chinese economic data has been somewhat disappointing but the case for a firmer renminbi remains stronger than the arguments for a weaker currency. But, if the foreign exchange market does see the renminbi as a winner in the coming months, it also has to identify the losers. Admittedly, the spate of disappointing Chinese economic data cannot be denied. For example, car sales in China fell again in January while purchasing manager… Source link

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Declining home sales in smaller Chinese cities during Lunar New Year point to longer term troubles

A country road in Dezhou, in China’s northern Shandong province. Property purchases by residents of a nearby village drove up prices in downtown Dezhou from 4,000 yuan per square metre at the beginning of 2018 to more than 8,000 yuan by year end. With provincial governments around China scaling back slum redevelopment plans and cutting back on cash compensation in 2019, property in cities like Dezhou will become even more unaffordable, according to a prospective buyer. Photo: AFP Source link

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Guangdong’s growth slump is seen as a turning point for China’s economy, say analysts

For decades, Guangdong, a beneficiary of China’s opening up, has prided itself on leading the country’s economic transition, often at a breakneck growth pace that annually surpassed the national rate. But this week, the southern province famed for its vast factory base and vibrant tech sector, has had bow to a tough new economic reality. A lower 6 to 6.5 per cent growth target in 2019 matches the expected national target, as fast growth fades across the country and uncertainty from the US-China trade war clouds outlook. Guangdong’s plight is…

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