Economic Policy

Austerity frenzy proven to be wrong. So will it be halted?

Pensioners march in an anti-austerity rally in Athens, Greece. Photo: Reuters

In this age of information, maths errors can lead to disaster. Nasa's Mars Orbiter crashed because engineers forgot to convert to metric measurements; JPMorgan Chase's "London Whale" venture went bad in part because modellers divided by a sum instead of an average. So, did an Excel coding error destroy the Western world's economies?

Sunday, 21 April, 2013, 4:56am 3 comments

Property Digest, January 9, 2013

Alva To, North Asia head of the consultancy department at DTZ. Photo: SCMP

Home sales in Hong Kong will continue to feel the effects of government policies in the near future, according to property consultant DTZ.

9 Jan 2013 - 3:26am

Party's first policy plan to focus on rural issues, say experts

Party's first policy plan to focus on rural issues, say experts

The Communist Party's first policy blueprint next year will continue to focus on rural issues, with priority likely to be given to diversifying patterns of agricultural production to encourage more specialised, large-scale farming, experts said.

21 Dec 2012 - 11:42am

Beijing to help troubled solar industry players

Mainland producers of solar power equipment are facing trade barriers overseas. Photo: AFP

The central government has laid out broad policy directions to support the development of the nascent domestic solar power market as part of efforts to help the troubled solar panels and components manufacturers boost sales in the face of overseas trade barriers.

20 Dec 2012 - 3:19am

Mainland sticks to stable growth

Domestic consumption will help drive China's growth. Photo: AFP

The new central leadership yesterday hinted that economic stability and continuity would be its priority, dashing hopes for a big-bang stimulus for the time being.

8 May 2015 - 9:46am

China, US focus on exports will cause more economic chaos

If the global economy is to have another sustained growth cycle, both the US and China must have a stable and balanced growth dynamic.

The global economy has been in constant crisis for five years. Muddling through with endless stimulus packages hasn't worked. The logical conclusion should be to try something new. Political changes in the US and China, the world's two largest economies, do not suggest that will happen, however. Continuation of the ineffective policies from the past awaits the world for years to come.

15 Nov 2012 - 2:35am

Care needed with General Motors stake sale

Care needed with General Motors stake sale

The bailout of General Motors played an important role in the re-election of President Barack Obama, but now comes the hard part, which is unloading the government's stake, probably at a big loss.

9 Nov 2012 - 3:59am

Why an Obama win would benefit the world

Which way Americans vote in the US presidential election matters greatly to the rest of the world.

Most people around the world will not be able to vote in the US presidential election, even though they have a great deal at stake in the result. Overwhelmingly, non-US citizens favour Barack Obama's re-election over a victory for his challenger, Mitt Romney. There are good reasons for this.

6 Nov 2012 - 2:26am 6 comments

Banks boost economies

With the economic climate in Europe and China deteriorating, central banks have intervened to pump more money into these economies.

The banks announced stimulus measures in rapid succession, acting on concerns over deteriorating global growth.

17 Jul 2012 - 12:00am

Falling FDI piles on pressure for monetary easing

The recent decline in China's foreign direct investment intensified last month, adding pressure for a heavier dose of monetary easing.

16 Mar 2012 - 12:00am

The people our budgets forget

More of the same' does not begin to describe the ultraconservative nature of the financial secretary's budget for 2012-13, even allowing for its 'caretaker' nature as the last budget of the current administration.

12 Feb 2012 - 12:00am

Fiscal revenue up 24.8pc to record

The mainland's fiscal revenue jumped 24.8 per cent to a record high of 10.37 trillion yuan (HK$12.7 trillion) last year, continuing to outpace growth in economic output and household incomes.

21 Jan 2012 - 12:00am

PBoC move suggests Beijing still cautious

People's Bank of China's latest move to increase bank deposit reserves suggested Beijing was cautious about raising interest rates and would use other tools to combat inflation as it tried to cool prices without choking off growth.

14 May 2011 - 12:00am

HK's stock market should withstand the end of QE2

With less than three months to go before the US Federal Reserve is due to turn off its printing presses and end the second round of its 'quantitative easing' stimulus policy, fears are growing that without the Fed's liquidity injections share prices in Hong Kong and across Asia could begin to sink once again.

5 Apr 2011 - 12:00am

It's money in the bank

Today, you broke your piggy bank! You did not spend the money. You have opened a bank account and deposited the money in it.

10 Mar 2008 - 12:00am