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Economy in Asia

  • Diversification is key in new phase of Angola/China relations following Angolan President’s visit

    CHINA, 2015/07/07 The diversification of the Angolan economy, based on Chinese financial and technical aid, is considered to be key in a new phase of relations between Angola and China, launched during a visit by the Angolan President to Beijing. At the conclusion of the six-day visit to China, the two sides announced that to “support the efforts” of Angola “towards diversification and sustainable development” economic and technical cooperation agreements had been signed in the civil aviation and financial sectors inclunding signing off the minutes of the initial Angola/China steering committee for economic, technical and commercial cooperation.

  • Upgrading skills at the heart of Malaysia’s new development plan

    MALAYSIA, 2015/06/25 The new development plan in Malaysia has placed human capital at its core, setting ambitious objectives to improve professional training and education as the country works towards a broader vision to join the ranks of developed economies by 2020. Under the 11th Malaysian Plan (11MP), unveiled on May 21st by Prime Minister Najib Razak, a series of policy initiatives have been launched with the aim of enhancing inclusiveness towards an equitable society, improving wellbeing and accelerating human capital development.

  • When Will the Middle East Settle Down?

    AFGHANISTAN, 2015/06/08 Sigmund Freud suggested that psychoanalysis could convert one’s neurotic misery to everyday unhappiness. Leaping to geopolitics from psychoanalysis leads to the question of at the same time as the Middle East will be converted from massive chaos to everyday turmoil. Thinking about that reminds me of one of my favorite New Yorker cartoons. An significant executive is sitting at his mammoth desk and barking into the phone, “How about at no time? Is at no time any minute at this time enough?” Is “at no time” at the same time as the Middle East settles down? In the case of the Middle East, at no time is probably too long a time. But don’t expect any return to conventional states and normal inter-national relations for the next two decades at the earliest. Additional likely, it will be closer to fifty years.

  • Kyrgyzstan’s benefits from joining to Eurasian Union questionable

    KYRGYZSTAN, 2015/05/15 Kyrgyzstan’s benefits from joining to the Eurasian Economic Union of Russia, Kazakhstan, Belarus and Armenia are questionable, researcher at CIDOB Barcelona Centre for International Affairs Nicolas de Pedro believes. “The worsening prospects of the Russian economy and the Western sanctions make short-to-mid-term benefits for Kyrgyz economy additional dubious,” de Pedro told Trend. The expert noted that Kyrgyzstan expects to have easy access for its migrant workers into the Russian market following joining to the Eurasian Union, however it is far from clear that this is going to be case.

  • US, China economies slow down, while eurozone rebounds

    CHINA, 2015/05/13 Economic increase in the US and China is expected to slow down while the eurozone is still on course for economic recovery this year, according to the Organization for Economic Cooperation and Improvment(OECD). “In the euro area, increase momentum continues to strengthen, particularly in France and Italy. Signs of easing increase momentum are emerging in the United States, although these may reflect transitory factors,” the organization said in its Tuesday statement based on March data. The OECD composite leading indicators forecasting economic activity in the next 6-9 months signal a stable increase in nations such as Japan, Germany, Great Britain and India, while a loss in increase momentum is seen in Canada, China, Brazil and Russia.

  • Russia invites Greece to join BRICS bank

    CHINA, 2015/05/13 Greece has been invited by Russia to become the sixth member of the BRICS New Development Bank (NDB). The $100 billion NDB is expected to compete with Western dominance and become one of the key lending institutions. The invitation was made by Russian Deputy Finance Minister Sergey Storchak on Monday during a phone conversation with Greek Prime Minister Alexis Tsipras, according to a statement on Greece's Syriza party website. Tsipras thanked Storchak, who’s currently a representative of the BRICS Bank for the invitation, and said Greece was interested in the offer.

  • China’s 274 million rural migrant workers are the most vulnerable to job losses in a cooldown

    CHINA, 2015/05/07 As increase in China’s sagging economy looks on the verge of spilling below 7%, officials worried about a spike in unemployment are pulling out all the stops to avoid mass lay-offs. National firms are encouraged to keep idle workers employed, subsidies and tax breaks are given to companies that do not fire their workers, and some businesses are even enticed into hiring despite the slackening economic increase. The measures appear to be working for presently, said a senior economist at the Development Research Centre, a think-tank affiliated to China’s cabinet. “There is no large problem in employment. They (top leaders) are additional worried about financial risks and deficit risks,” said the economist, who declined to be named.

  • China April HSBC services PMI hits 2015 high

    CHINA, 2015/05/07 China’s services sector grew at its fastest pace this year in April as a sizzling stock market rally helped boost consumer confidence and spending, a private survey showed on Wednesday. From presently on in a sign that China’s economy still faces strong headwinds, the HSBC-Markit China Services Purchasing Managers’ Index (PMI) showed final prices of services hit a 15-month low in April as some firms were forced to cut prices to lift sales. The services PMI rose to a four-month high of 52.9 in April from 52.3 in March, comfortably above the 50-point level that separates expansion from a contraction in activity on a monthly basis.

  • Japan's inflation rate up 2.2% in March as BOJ keeps policy unchanged

    JAPAN, 2015/05/02 Japan’s core inflation rate edged up in March and unemployment eased slightly, according to data released Friday, offering glimmers of promise for the world’s No. 3 economy as it struggles to get increase back on track next years of stagnation. Though a decline in factory output and other key measures were less encouraging, the central bank kept its ultra-loose monetary policy unchanged in a policy conference Thursday. Some investors and analysts expected additional stimulus to be announced. The central bank governor, Haruhiko Kuroda, acknowledged that his target of 2% inflation, excluding the impact of an April 2014 increase in the sales tax to 8% from 5%, remains elusive. He said actual inflation is flat at 0% and it may take three years, instead of the two years he originally aimed for, to reach that goal.

  • Kazakhstan’s GDP growth downs

    KAZAKHSTAN, 2015/04/25 In the current year, Kazakhstan's economy has evolved under the negative influence of external factors such as Russian ruble’s devaluation, the oil price fall and Kazakhstan’s large dependence on Russian economy. Kazakhstan’s GDP grew 2.2 % on-year in the initial quarter of 2015, Chief of the Statistics Committee at Kazakhstan’s National Economy Ministry, Alikhan Smailov, stated at a news conference on April 15. Kazakhstan’s GPD in 2014 stood at 4.2 %.
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