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
A recent defence exhibition attracted military officials and other potential arms buyers from around the world who were there to sample the latest equipment.Continue Reading
Prime Minister Prayut Chan-o-cha has suggested that transistor radios may often be the best means of keeping people informed during major flooding, but his remark drew public scorn.Continue Reading
Most SMEs acknowledge the importance of e-commerce
Revenue from APACâs 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
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.
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.
The post Truss must heed Abe’s ghost, not Thatcher’s appeared first on Asia Times.
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.
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.
Accusations continue to fly about the cause of major leaks from the two Nord Stream pipelines transporting gas through the Baltic Sea from Russia to Europe. Until this latest development, Russia had maintained that Western sanctions were behind disruptions to supply from the Nord Stream 1 pipeline, as maintenance and repair of essential equipment could […]
The post With Nord Stream gone, where will Europe get its gas? appeared first on Asia Times.
Upon becoming president of the United States, Joe Biden immediately set forth to promote “rule-based international order,” ostensibly for the world community, but the message was really intended for China. The “world order,” according to Biden, was for Beijing to conduct its foreign affairs in line with Washington’s expectations. Now into the second year of […]
The post US pushes ‘rule-based disorder’ appeared first on Asia Times.