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July 1, 2022

Asia Economy

China’s Xi says Hong Kong is moving ‘from chaos to governance’

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CNBC – For more and to sign up click here Chinese President Xi Jinping and Hong Kong’s new Chief Executive John Lee at the swearing-in ceremony on July 1, 2022. Xi, in his first trip outside the mainland since Covid struck, presided over the ceremony. Justin Chin | Bloomberg |......

In China, more and more people want to save as job worries grow

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CNBC – For more and to sign up click here Education remained the most popular category for Chinese consumer’s planned spending, according to a People’s Bank of China survey in the second quarter of 2022. China News Service | China News Service | Getty Images BEIJING — Chinese consumers’ inclination......

Incoming Philippines finance secretary wants to put his country back on a growth track

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CNBC – For more and to sign up click here The Philippines’ incoming finance minister wants to get his county back on a growth path and tackle pressing economic issues such as its huge debt pile. “As finance secretary I’ll have a slightly different role,” said Benjamin Diokno who is currently the......

China’s economy didn’t bounce back in the second quarter, China Beige Book survey finds

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CNBC – For more and to sign up click here China’s exports surged by 16.9% in May from a year ago, two times faster than analysts expected. Pictured here on June 15, 2022, are workers in Jiangsu province making stuffed toy bears for export. Si Wei | Visual China Group......

China cuts quarantine time for international travelers in big step toward easing Covid controls

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CNBC – For more and to sign up click here For more than two years, overseas travelers have had to quarantine upon arrival in China because of Covid restrictions. Pictured here at Beijing International Airport on June 18, 2022, are passengers waiting to be taken to quarantine-designated destinations. Leo Ramirez......

G-7’s infrastructure funding plan offers an alternative to China’s BRI in a ‘deliberate way’

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CNBC – For more and to sign up click here The Group of 7 has announced a new infrastructure funding program that could rival China’s Belt and Road Initiative. One expert says the G-7’s plan offers hope to developing countries but it remains to be seen whether it can match......

The housing market slowdown is showing up in shipping data from China

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CNBC – For more and to sign up click here Spending cutbacks by the consumer already led to a decrease in Chinese manufacturing orders by U.S. importers of 20-30%, as recently reported by CNBC, and more recent data from U.S. shippers shows the housing market slowdown is now showing up......

World’s most livable cities: Vienna climbs back to its No. 1 spot. These are the biggest decliners

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CNBC – For more and to sign up click here Vienna ranked first in 2018 and 2019, but was overtaken by Auckland, New Zealand, during the pandemic and slipped to 12th place in 2021, according to the Global Liveability Index 2022. Sylvain Sonnet | The Image Bank | Getty Images......

China’s steel mill owners are in a bad mood as demand takes a hit

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CNBC – For more and to sign up click here Steel mill owners in parts of China are in a bad mood, Beijing-based commodities consultant Simon Wu said. Steel inventories are slowly piling up in the warehouses of the country’s biggest steelmaking hub, the northeastern city of Tangshan, as well as......

China’s Xi vows ‘more forceful’ tools to achieve this year’s economic targets

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CNBC – For more and to sign up click here China is hosting the annual BRICS summit virtually this year. Pictured here is Chinese President Xi Jinping speaking via video at the United Nations General Assembly in New York, U.S., on Tuesday, Sept. 21, 2021. Bloomberg | Bloomberg | Getty......

Here’s what China’s e-commerce giants are telling us about the economy

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CNBC – For more and to sign up click here Across five major e-commerce platforms’ GMV, Alibaba’s market share fell by 6% in the first quarter versus the fourth, according to Bernstein analysis. Str | Afp | Getty Images BEIJING — Alibaba was once the poster child for investing in......

This 32-year-old has a toy business worth millions. Here’s how he got his big break with DC Comics

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CNBC – For more and to sign up click here “I’m not the best artist. I’m terrible,” said Jackson Aw with a sheepish laugh. That may seem ironic, given how the 32-year old is the founder and chief executive officer of Mighty Jaxx, a designer toy company from Singapore.  But......

China’s electric vehicle battery supply chain shows signs of forced labor, report says

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CNBC – For more and to sign up click here Hundreds of Uyghurs are working for a mining conglomerate that produces raw materials for electric vehicles as part of a so-called work transfer program in China, the New York Times reported. Shen Longquan | Visual China Group | Getty Images......

Australia’s leading wine authority to close office in China as exports plunge

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CNBC – For more and to sign up click here Lin Tiangui, a representative of Winston Wine, looks at a bottles of wine produced from Winston Wine’s own Australian winery at one of its stores in Shanghai, China on October 18, 2011. Qilai Shen | Bloomberg | In Pictures |......

Singapore imports more than 90% of its food. Here’s how it’s dealing with rising food inflation

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CNBC – For more and to sign up click here A rooftop farm in Singapore on May 27, 2020. The small island nation lacks natural resources and imports more than 90% of its food from more than 170 countries and regions. Lauryn Ishak| Bloomberg | Getty Images Singapore is known......

Jokowi lays out his pitch for why Elon Musk should invest in Indonesia

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CNBC – For more and to sign up click here Elon Musk, here seen at an event in New York in early-May, is being aggressively courted to produce his electric vehicles “end to end” in resource-rich Indonesia. Angela Weiss | AFP | Getty Images President Joko Widodo denied that Indonesia......

Sequoia says it is optimistic about Southeast Asia’s start-ups despite challenging market

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CNBC – For more and to sign up click here Venture capital firm Sequoia is still “quite optimistic” about long-term prospects for start-ups, despite the recent market volatility. “This is a particularly challenging market for founders to get started,” Abheek Anand, managing director of Sequoia Southeast Asia, told CNBC’s “Squawk......

Chinese stocks are looking cheap. Fund manager explains why he’s betting on Alibaba

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CNBC – For more and to sign up click here Investors may still be nervous about Chinese stocks despite massive declines that have made them compelling, but portfolio manager Sid Choraria assures tech titan Alibaba is no “value trap.” To classify Alibaba as one, investors would have to believe that......

Indonesians are increasingly wary of Australia, but its new leader wants to change that

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CNBC – For more and to sign up click here Australian Prime Minister Anthony Albanese returns from laying a wreath at Indonesia’s National Heroes Cemetery on June 6, 2022 in Jakarta, Indonesia. Albanese made his first trip to Indonesia promising to strengthen ties during two days of diplomatic and business......

China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain

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CNBC – For more and to sign up click here New energy vehicles, which include hybrid and battery-powered cars, have seen sales surge in China despite a slump in the overall car market. Pictured here is an unnamed new energy vehicle factory in Jiangsu province on June 13, 2022. Wan......

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