US billionaires keeping more and giving less

By:
On:
In: Asia, Business

The 50 Americans who gave or pledged the most to charity in 2022 committed to giving US$14.1 billion to foundations, universities, hospitals and more – a total that was 60% below an inflation-adjusted $35.6 billion in 2021, according to the Chronicle of Philanthropy’s latest annual tally of these donations. The Conversation US asked David Campbell, […]Continue Reading

China’s reopening still more boomlet than boom

By:
On:
In: Asia

Has investor bullishness about China’s post-Covid reopening trade run ahead of economic reality? Yes, say a growing number of global investment banks and asset management firms. “Overhyped,” is how Wang Qi, CEO of MegaTrust Investment, puts it. Strategist Arthur Budaghyan at BCA Research is using the same word in meetings with clients. “We expect the Chinese economy to recover, but the issue is how much is already priced in,” he says. To be sure, China’s return as a growth engine is a plus for the global economy. Its rapid reopening from its previous “Zero Covid” lockdowns has prompted economists everywhere to revise 2023 prospects. But Goldman Sachs reports that onshore clients have real questions about the pace and durability of China’s economic rebound. Xi Jinping’s economy “is still not firing on all cylinders,” says strategist Julia Wang at JPMorgan Private Bank. “Housing sector-related data is still quite weak. Income growth will likely recover with a lag. It still continues to be a question of confidence in the sector.”

To continue reading, please log in to your AT+ Premium account. Not yet a member? Please signup for AT+ Premium monthly membership, AT+ Premium yearly membership, AT+ Premium yearly membership (educator), AT+ Premium yearly membership (student) or AT+ Premium Access membership.

Continue Reading

Uncle of man convicted of sexually assaulting maid pleads with judge, says nephew is remorseful

By:
On:
In: South-East Asia

SINGAPORE: The uncle of a man convicted of sexually assaulting a maid pleaded with a judge against imposing preventive detention on Thursday (Feb 16), saying his nephew is remorseful. Mark Kalaivanan Tamilarasan, 44, had claimed trial to four charges of aggravated sexual assault, house trespass to commit sexual assault, outrageContinue Reading

Digitization can’t save China’s ailing healthcare

By:
On:
In: Asia

China has prioritized the implementation of digital technology in the health sector in recent years. In November 2022, China proposed the digitization of national health information by 2025 as part of its five-year National Health Informatisation Plan. Globally, digitization has been used as a solution to issues such as labor shortages, healthcare privatization and health record management. The […]Continue Reading