China 

Three ways China can use policy freedoms to shore up its economy and lead the world out of the mess

The odds of a global recession happening over the next year have probably widened over 50 per cent in recent weeks. Not since the 2008 crash has the outlook seemed so bleak. Economic headwinds are building, world trade flows are slowing down fast and global confidence is struggling, leaving China highly exposed as an export-dependent economy.With increased protectionism by the United States, recession looming in Europe and local Asian trade partners feeling the pinch, China must move swiftly to… Source link

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China is the world leader in special economic zones but the results are erratic at best, with many being underused or failing to benefit the wider economy

Just a week ago, Beijing announced an ambitious expansion of its Shanghai Pilot Free Trade Zone in the Lingang New Area, underpinning “a new round of reform and opening up”. Since the first free economic zone launched in Taiwan in 1966 (quickly followed by Singapore in 1969 and South Korea in 1970), special economic zones have proliferated across the world – from 79 in 1975, to almost 5,400 last year, according to the United Nations Conference on Trade and Development (UNCTAD) in its latest… Source link

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Vietnam 

VN start-ups eyeing the world must have global mindset: forum – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Nguyễn Quang Trung, senior lecturer and discipline lead for the international business programme at RMIT University Việt Nam, speaks at the ‘Born Global: The Future of Việt Nam’s Digital Economy’ forum held in HCM City on Wednesday (Aug 7). VNS Photo Bồ Xuân Hiệp HCM CITY — Vietnamese start-ups that wish to go global must have a “global mindset” and “decision-making power” and be willing to “take risks” to capitalise on the opportunities for success in the digital economy, experts have said. Speaking at a…

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Hong Kong follows US Fed in cutting interest rate for the first time since 2008 as trade war weighs down on world economy

Hong Kong’s monetary authority cut the city’s base lending rate for the first time in more than a decade, reducing the cost of money in a slowing economy that had been squeezed by a year-long US-China trade war.The city’s de facto central bank reduced the base rate by 25 basis points to 2.5 per cent effective August 1, in lockstep with a widely expected cut of the same amount by the US Federal Reserve, the first reduction since the 2008 Global Financial Crisis.“A lower interest rate will… Source link

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Hong Kong’s New World Development takes advantage of Hangzhou land price curbs, wins plot for 9.8 billion yuan

Hong Kong property company New World Development took advantage of a newly introduced price cap to win a commercial-residential plot of land in downtown Hangzhou for 9.8 billion yuan (US$1.4 billion), a shade higher than the starting bid of 9.6 billion yuan, it said on Tuesday. The deal represents New World’s first foray into Hangzhou.The 93,364 square metre plot, the latest among nine sites the Hangzhou government is offering during a two-day auction, was also the first to be sold under the… Source link

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Singapore 

Rich economies like Singapore should not be labelled ‘developing countries’, says Trump in call for WTO reform, Singapore, World News

WASHINGTON – Singapore and other rich countries are unfairly taking advantage of their self-declared status as developing countries to gain preferential treatment in the World Trade Organisation (WTO), said US President Donald Trump on Friday (July 26) in a call for the WTO to change its approach on the developing country label. “The WTO is BROKEN when the world’s RICHEST countries claim to be developing countries to avoid WTO rules and get special treatment. NO more!!!” he wrote on Twitter. The WTO is BROKEN when the world’s RICHEST countries claim…

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Singapore 

No Singaporean made Singaporeans’ top 17 most-admired people in the world , Singapore News

August is coming up and it’s the time when Singaporeans are the most patriotic, right? Apparently not. In a recent survey by YouGov, 1,112 Singaporeans were asked to name the person they admired the most. And the person to top the list with a 12.58 per cent admiration score was… (Drumroll) Michelle Obama. That’s a pretty excellent choice, honestly speaking. Full of conviction, the compassionate yet compelling former US First Lady inspired a new generation of strong women. It’s no surprise that she’s also the leading lady on the global ranking, nothing short…

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Why a no-deal Brexit is a big deal for Britain and the rest of the world

As the British Conservative Party leadership race enters its final few days, Boris Johnson remains the overwhelming favourite to become prime minister this week. The clash between Johnson and Jeremy Hunt has seen a no-deal Brexit assume growing likelihood, despite the fact that this disorderly outcome is still widely misunderstood. In trading last week, markets were rattled following Brexit remarks from both Johnson and Hunt. With the pound battered in foreign exchange markets, the UK currency… Source link

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Singapore 

NCT127 brings their world tour to a close with electrifying performance in Singapore, Entertainment, Singapore News

Three years since South Korean K-pop group NCT 127 promised to wake up the world, the champions descended upon the Singapore Indoor Stadium on July 20 for their debut world tour Neo City: The Origin.  As the final performance of the tour, the air was filled with tangible energy as the fans, affectionately known as NCTzens, waited with bated breath, twinkling green lightsticks in hand. They kicked off the night with their popular hit single ‘Cherry Bomb’, proving to us just who the biggest hits on the stage really were. Their…

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Donald Trump is putting global cooperation to a stress test. And the world may be better for it

(From left) Canadian Prime Minister Justin Trudeau, Argentinian President Mauricio Macri, US President Donald Trump, Russian President Vladimir Putin, European Council President Donald Tusk, IMF managing director Christine Lagarde, South Korean President Moon Jae-in and Senegalese President Macky Sall take their positions for a group photo at the G20 Summit in Osaka on June 28. Photo: AFP Source link

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