Still rotten at the top of graft-ridden Indonesia

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JAKARTA – Indonesians have been given yet another reminder that corruption remains a drag on the country’s economy with a Supreme Court justice and the gambling-addicted governor of Papua under investigation for allegedly taking bribes and stealing from the public purse. Transparency International’s 2021 Corruption Perception Index ranks Indonesia 96th out of 180 ranked countries, a […]

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The Fed in a floating world

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The 35% decline in the yen and 25% decline in the euro relative to the dollar, and the US dollar index up by 25% since 2017, are being rationalized as a response to the US Federal Reserve’s raising interest rates to battle inflation. Analysts remind us that such policy is similar to the one Paul […]

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Asia tech ‘godfathers’ to decide US chips fate

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The importance of semiconductors to economic security adorned newspaper headlines in 2022. As part of its technological competition with China, the United States has introduced a policy of “friendshoring” its semiconductor production to secure its supply of high-end chips that enable daily life and stock the inventory of major technology firms such as Apple. The […]

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Mad rush out of draft-time Russia

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Russian President Vladimir Putin’s announcement of a “partial mobilization” in the Ukraine war has triggered mass protests throughout the country and launched an exodus of Russian citizens fearing the draft. Many who previously supported Putin’s “special military operation” in Ukraine are now having second thoughts. But with the price of airline tickets skyrocketing and flights […]

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Crisis in Iran: Raisi’s hijab hype backfiring badly

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Protests continue to roil Iran after the shocking death of Mahsa Amini, a 22-year-old woman arrested by the morality police for an “improper hijab,” who is widely believed to have been beaten to death while in custody of the guards. Despite a crackdown that has so far claimed at least 76 lives, Iranians are not […]

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Central banks flinch as UK bond market faces collapse

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G7 financial markets avoided a threatened crisis September 28 when the Bank of England announced £45 billion of emergency government bond purchases. That amounts to an emergency easing of monetary policy after months of coordinated rate hikes by most of the world’s central banks. The British central bank, the world’s second oldest, had no choice: […]

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China scrambles to keep sagging exports afloat

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China's private sector has been a key driver of export growth. Photo: iStock

China’s government has unveiled new measures to help its exports keep growing in the second half of this year amid slowing demand in Europe and the United States. On Tuesday, China’s Ministry of Commerce said it would help exporters with export credit insurance and tax benefits, and make it easier for them to participate in […]

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Marcos rolls the dice on plan to deport 40,000 Chinese

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MANILA – In a major policy reboot with potential long-term economic and geopolitical implications, new Philippine President Ferdinand Marcos Jr is cracking down on the Chinese online casinos that proliferated in the capital Manila and across the country under his controversial predecessor. This week, the Philippine Department of Justice (DoJ) announced it will close down […]

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Why China won’t dominate the green hydrogen future

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A prominent financial media outlet tells us that China is leading the race to produce green hydrogen, seen by some as the future key to zero carbon emissions for industry and transportation. So should non–Chinese worry about Beijing’s lead in developing the clean fuel? Probably not. Then should we be pleased at the prospect of […]

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Wrecking ball dollar swinging next toward US

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TOKYO – Wall Street suits, run for the hills. So far this year, the surging dollar has left a trail of carnage across Asian and European economies, currencies and bourses. Now, it is likely headed for home territory. Count Michael Wilson, Morgan Stanley’s chief US equity strategist, as among those fearing the dollar’s rally is […]

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