The CHIPS Act is a US industrial moonshot

By:
On:
In: Asia

The US is getting more serious about industrial policy and a single word explains why: China. Fear of China dominating the technology industries of the future has changed the political equation in Washington. Republicans traditionally resisted the government supporting strategically important industries. China has moved some Republicans into the yes column, making legislation possible. The […]

The post The CHIPS Act is a US industrial moonshot appeared first on Asia Times.

Continue Reading

Truss faces new challenge over UK welfare payments

By:
On:
In: Asia

Immediately lawmakers in Truss’s Conservative Party – some who helped force the top tax rate reversal – opposed any move to reduce the increases in benefits at a time when millions are struggling with higher costs of food and energy. Penny Mordaunt, who is in Truss’s cabinet of senior ministers,Continue Reading

E-commerce opportunities to grow for SMEs: FedEx

By:
On:
In: Technology

Most SMEs acknowledge the importance of e-commerce
Revenue from APAC’s e-commerce projected to reach US$2.09 tril The latest e-commerce trends from research commissioned by FedEx Express, a subsidiary of FedEx Corp, shows that both small and medium sized enterprises (SMEs) and consumers in the Asia Pacific, Middle East and Africa region (AMEA)…Continue Reading

Onshoring semiconductors is a chipped ambition

By:
On:
In: Asia, Business

The disruptions caused by the Covid-19 pandemic have limited the supply and increased the cost of semiconductors. One of the clearest impacts of the chip shortage has been on the automotive sector. Reestablishing some semblance of normality within the semiconductor supply chain has, as a result of this and similar shortages, moved from theoretical discussions […]

The post Onshoring semiconductors is a chipped ambition appeared first on Asia Times.

Continue Reading

Truss must heed Abe’s ghost, not Thatcher’s

By:
On:
In: Asia

TOKYO – As Liz Truss riffs on Margaret Thatcher and Ronald Reagan, a more recent failed experiment with supply-side economics leaps to relevance from the region: Japan’s so-called “Abenomics.”

Last week made for an intriguing split screen. On one half, moves by the new – and already embattled – UK prime minister to cut taxes for the nation’s top 1% fell flat in global markets. On the other, a state funeral for former Japanese prime minister Shinzo Abe, who had bet his legacy on a similar fiscal maneuver.

To be sure, Truss is backtracking on her tax cut plans to scrap the 45% income tax rate – for now, at least. But these zombie ideas never really die. Odds are, Team Truss – led by Finance Minister Kwasi Kwarteng – will try his ploy again presented in more palatable clothing. And soon.

The rise and fall of Abe’s legend as a great reformer sheds light on why gilt traders just aren’t having the Truss government’s reversion to Thatchernomics. The crux of the problem: just like Abe’s 2012-2020 tenure in Tokyo, Truss in London has a 1985 problem on her hands.

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.

The post Truss must heed Abe’s ghost, not Thatcher’s appeared first on Asia Times.

Continue Reading

China on course to elude US chip-making equipment bans

By:
On:
In: Asia

Chinese tech giant Huawei’s attempt to make semiconductors without American equipment has generated global headlines as the US-China tech war takes yet another turn. It is one more strong hint – if any were needed – that the US government is in the process of creating a competitor that it won’t be able to control […]

The post China on course to elude US chip-making equipment bans appeared first on Asia Times.

Continue Reading

How IMF turned the world against the British pound

By:
On:
In: Asia, Business, Finance

Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets. Days after the government made its mini-budget announcement, the IMF warned that “large and untargeted […]

The post How IMF turned the world against the British pound appeared first on Asia Times.

Continue Reading