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Economy in Asia

  • Japan: Slowly recovering?

    JAPAN, 2016/01/04 Advanced indicators still point to a fragile outlook. The trade balance in November deteriorated to -JPY379.7bn (+JPY108.3bn in October). Export volumes contracted (-3.1% y/y) due to lower request from the U.S. and Asia and imports registered a small upturn (+1.6%y/y from -3.8%) as request for EU goods recovered. Industrial activity gained some traction, with production increasing +1.4% m/m in October (+1.1% in September). Business surveys point to a robust outlook, with manufacturing PMI at 52.5 in December.

  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.

  • Ease Of Doing Business: India Amends Defense Offset Norms

    INDIA, 2015/12/26 In an attempt to improve the relieve of doing business and promote PM Narendra Modi's 'Make in India' initiative, India today relaxed defense offset guidelines, bringing an Indian vendor at par with the foreign OEM in terms of fulfilling offset obligations. This will provide better flexibility to the vendors in offset contracts and reinstatement of services, and ensure a level playing field to Indian firms in capital acquisitions. Vendors had been expressing difficulty to upfront provide specific description of products and their work share, supporting documents to establish eligibility of Indian Offset Partners (IOPs) and yearly discharge schedule.

  • OECD Leading Index Signals Stable Growth Momentum

    WORLD, 2015/12/11 The Organization for Economic Co-operation and Development said the leading index suggested stable increase momentum in the region. The composite leading indicator remained unchanged at 99.8 in October. Stable increase momentum was anticipated in Canada and Japan inclunding in the euro area as a whole, inclunding Germany and Italy. Meanwhile, the United States showed a loss of increase momentum, albeit from relatively high levels.

  • China Will Be Key to Future of G-20, Ex-Canadian PM Paul Martin Says

    CHINA, 2015/11/30 In the late 1990s, the world seemed to be lurching from one economic crisis to an extra. But only a handful of developed nations, known as the Group of Seven, seemed to have the last word on what everyone else should do about it. One man thought there was something wrong with that: Paul Martin, the former prime minister of Canada, who is widely credited as the architect of the Group of 20. Established in 1999, the grouping serves as a forum for world economic leaders, such as finance ministers and central bank governors, from both developed and developing nations to discuss pressing issues. This year's G-20 summit will be held in Antalya, Turkey, from November 15 to 16. China will take over the G-20 presidency on December 1 and host the summit for the initial time, in the major eastern city of Hangzhou, in November next year.

  • Kazakhstan's economy is likely worse than it was predicted

    KAZAKHSTAN, 2015/11/28   The situation in Kazakhstan's economy is likely worse than it was predicted at the beginning of the year, Dosym Satpayev, the Director of the Kazakh Risk Assessment Group, believes. "Since the end of last year, the Kazakh government is trying to prevent rising unemployment. The government has signed memorandums with large Kazakh enterprises that they will guarantee the preservation of jobs, or in the case of layoff of an employee, they will search an extra job for him/her," the expert told Trend on November 25. On November 23, Kazakh Energy Minister Vladimir Shkolnik suggested that additional than 40,000 employees of the oil and gas sector of the country could face layoffs, and wages will be reduced by a third if oil prices remain at a low level in 2016. Next year, the major international financial institutions expect the average price of Brent at $55-$58 per barrel.

  • Tajikistans economic growth to slow in 2015

    TAJIKISTAN , 2015/11/18 The World Bank predicts Tajikistan’s economic growth to slow to an estimated 4.2 percent in 2015. The bank said in its new bi-annual Tajikistan Economic Update that it is due to the decline in remittances from Russia, weak global demand and low prices for the country’s key export commodities such as aluminum and cotton. This Central Asian country's economic growth was 6.7 percent in 2014. The fall in remittances and slowdown of economic growth has had a strong impact on Tajikistan's income, which is expected to reach 10 percent in 2015.

  • APEC economies growth slows to 3.1 pct in Q2

    BRUNEI , 2015/11/18 Increase among the 21 Asia-Pacific Economic Cooperation (APEC) economies softened to 3.1 % in the second quarter of 2015, down from 3.2 % in the initial quarter and 3.4 % a year ago, according to an APEC economic analysis released on Tuesday. The statement said the increase slowdown reflected the prolonged weakness in world economic activity as the modest recovery in advanced economies was matched by a general slowdown in emerging market economies. The moderation in GDP levels could be attributed to declining investments and lacklustre exports, according to the statement. "Economies across the Asia-Pacific continue to grow but find themselves in a holding pattern of lower increase in the absence of high trade volumes," said Alan Bollard, Executive Director of the APEC Secretariat.

  • Taiwan needs a new direction for economic development

    TAIWAN AREA, 2015/11/15 Whoever becomes president next year will be faced with the major task of improving Taiwan's economy. But it will not be enough for him (or additional likely her) approaching up with only short-term fixes to boost exports or domestic purchases; the country needs a new direction for long-term economic development. Taiwan managed to transform itself into a powerhouse in the world data technology (IT) industry next correctly identifying it as the next backbone of the country's economy in the 1980s. Taiwan remains a powerhouse in the IT industry, dominating some of the semiconductor sectors. Its makers collectively still manufacture some 80 % of world's notebook PCs.

  • Prime Minister Shinzo Abe

    JAPAN, 2015/11/11 The Japanese Prime Minister’s much heralded and debated economic paradigm Abenomics has provided Japan with solid ground to reorient itself for a additional globalized world. Presently its final implementation is underway Prime Minister Shinzo Abe’s economic plan that helped get him elected in 2012 is designed to flush Japan out of two decades of deflation. Dubbed “Abenomics”, the three-pronged plan or “arrows” involves increased government spending, bold monetary stimulus, and structural reforms to lift the long-term increase rate. Japanese companies are as well reorienting themselves for a additional globalized world. “Six years ago, we focused on the domestic front. There’s a lot of dynamism and innovation in Japan. We want to bring that to the world market,” says Irene Hirano Inouye, President of the U.S.-Japan Council.
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