European business group warns of loss of confidence in China

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SHANGHAI IN CHINA: A top European market group warned on Wednesday (Sep 21) that firms had been losing confidence within China and that its standing as an expenditure destination was being eroded, citing its “inflexible and inconsistently implemented” COVID-19 policy being a key factor. The European Chamber of Commerce releasedContinue Reading

Marcos hat in hand in US while keeping China close

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MANILA – This week, President Ferdinand “Bongbong” Marcos Jr became the first Filipino leader to visit the United States in more than half a decade. His Beijing-friendly predecessor, Rodrigo Duterte, refused to visit even a single Western capital throughout his six years in office. The last time a Filipino president visited the US was in […]

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HK may finally lift quarantine rules in Nov

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Hong Kong’s government is expected to announce this week a further relaxation of its Covid-19 quarantine rules by November to attract more international travelers and restore the city’s sagging standing as an international business hub, according to local press reports. All incoming travelers to Hong Kong must now stay at designated hotels at their own […]

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Race to hike rates guarantees global recession

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TOKYO — Punchbowls everywhere are becoming endangered species as central bankers scramble to yank them away with increasing urgency. Nowhere more so than here in Asia.

This metaphor is courtesy of William McChesney Martin, the US Federal Reserve’s longest-serving chairman who held the position from 1951 to 1970. He famously said a monetary authority’s role is that of a “chaperone who has ordered the punchbowl removed just when the party was really warming up.”

Since the 2008 Lehman Brothers crisis, the catchphrase markets most associate with central banks is “whatever it takes.” Mario Draghi, then-president of the European Central Bank, famously uttered these words in July 2012 amid debt-market turmoil on the continent. A year later, Bank of Japan Governor Haruhiko Kuroda would embrace a similar mantra.

Today, officials are racing to do what they can to tame inflation and keep up with current US Federal Reserve Governor Jerome Powell’s tightening cycle.

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S Korea seeks neutral ground in US-China chip war

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TOKYO – Cina and South Korea have agreed to establish a new Collaborative Supply Chain Council to address any disruptions of the extensive and interdependent economic relationship in a timely fashion. In what could be taken as pointed irony, the Dong-A Ilbo documented that “With the particular supply chain change beginning in earnest directed by the […]

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America’s AI edge fading fast to China

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A new statement warns that the ALL OF US may lose the technological edge over China by 2030 if it doesn’t step up on strategic sectors critical to sustaining its advantages. The report, titled “Mid-Decade Challenges to National Competitiveness, ” was launched this month by congressionally-mandated National Security Commission on Artificial Intelligence (NSCAI), a completely independent commission established […]

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