Global economy

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.

Thursday, 15 November, 2012, 2:35am

The other big shift going on in the global economy

The International Energy Agency said that it expects the United States will overtake Saudi Arabia as the world's leading oil producer by about 2017 and will become a net oil exporter by 2030.

Ever since the financial crisis, we have heard a great deal about how the world's economic centre of gravity is shifting.

The United States and Europe are in decline, their economies hamstrung by crippling public debt burdens.

Meanwhile, Asia is rising, propelled by the emergence of China as a trading and financial superpower.

14 Nov 2012 - 3:26am 2 comments

Asian manufacturing slows, but services have been slow to fill the gap

Programmers at work in a software firm in Dhaka, Bangladesh. Upgrading the service sector could play a critical role in the future growth of Asia. Photo: AFP

The euro-zone crisis has dominated discussions among policymakers over the past few years, but the economic slowdown in Asia's two giants - China and India - has become a source of growing public concern as well. How worried should we be about an additional drag on the global economy?

14 Nov 2012 - 3:16am

Interview: Tom Cheung Ling-fung, chief executive of Hui Xian Reit

Illustration: Martin Megino

Tom Cheung Ling-fung, chief executive of Hui Xian Real Estate Investment Trust, was among the first Hong Kong executives to relocate to the mainland in the early 1990s, and he's seen first-hand some of the dramatic changes the economy has undergone in the past two decades.

8 May 2015 - 9:46am

Laos, Russia join WTO path to growth

The 9th Asia-Europe Meeting

Laos hosted the 9th Asia-Europe Meeting in its capital, Vientiane, this week, and many will see this as a coming-out party for the Southeast Asian nation, which is about to become the newest member of the World Trade Organisation.

8 Nov 2012 - 2:16am

G20 presses Europe, US to fix fiscal challenges

Spanish Minister of Economy Luis de Guindos speaks during a press conference during the meeting of Finance Ministers and governors of central banks of G20.

The world’s leading economies pressed the United States and Europe to swiftly resolve their fiscal challenges on Monday, warning that they threaten to harm global growth.

6 Nov 2012 - 6:21am

'No surge in sight for international iron ore prices'

Iron ore prices could edge down next year, according to one leading mainland metals industry figure. Photo: Reuters

International iron ore prices will at best be steady and likely move lower next year despite a sharp rebound in the past two months, according to industry executives and analysts.

6 Nov 2012 - 4:24am

Premier Wen Jiabao calls for clear euro-zone debt plan

Clockwise from back row left: Norway's Jens Stoltenberg, Dmitry Medvedev of Russia, Slovenia's Janez Jansa, Cambodia's Hun Sen, China's Wen Jiabao and Laos' Choummaly Sayasone. Photo: EPA

Premier Wen Jiabao called on major economic institutions to come up with a clear and reliable plan to solve the euro-zone debt crisis, while pledging that China will assist in Europe's recovery.

In a speech at the opening ceremony of the Asia-Europe Summit in Vientiane, Laos, yesterday, Wen also urged co-operation between the two sides on the use of water resources and forestry.

6 Nov 2012 - 12:07pm

Emerging nation stocks fall most since 2007


Five years after global equities peaked, valuations in developing countries have tumbled the most even as their economies expanded fastest.

5 Nov 2012 - 6:20am

Hong Kong still No 2 for ease of doing business

Co-authors of the Doing Business report Karim Belayachi and Maya Choueiri. It has been conducted since 2003. Photo: Sam Tsang

Hong Kong remains the second-best place in the world to do business, pipped again by Singapore, which for the seventh consecutive year topped a global survey of business-friendly economies.

China, the world's second-biggest economy, lagged in 91st place but was the most improved market in the Asia-Pacific region to do business.

24 Oct 2012 - 9:31am

The mad economic cost of Japan and China's sovereignty row

Cars wait for shipment in Yokohama, Japan. Japan's economy has suffered more than China's in the territorial row. Photo: Bloomberg

Can China and Japan really be contemplating the madness of going to war over who owns a tiny string of uninhabited rocky islets far from anywhere in the East China Sea?

24 Oct 2012 - 4:01am

Debate stance on China shows cynicism of two US candidates

Barack Obama and Mitt Romney at their final debate.

It is hard to know which was more hurtful to the "feelings of the Chinese people": that both candidates in yesterday's US presidential debate took such a combative stance towards China, or that they spent so little time doing it.

24 Oct 2012 - 4:01am 4 comments

Uncertainties over central bank policies take shine off carry trade

The US$4 trillion-a-day foreign-exchange market is losing confidence in central banks' abilities to boost a struggling world economy.

23 Oct 2012 - 4:26am

Chinese outbound tourism growing rapidly

Chinese tourists on the Thames. Britain is among countries to have aggressively wooed Chinese travellers. Photo: Reuters

They may seem worlds apart but the story of Swiss-made watches and mainland China's insatiable hunger for these quality timepieces tells us something about the world we live in and the future global tourist.

21 Oct 2012 - 4:42am

Canton Fair not all gloom and doom

A mosaic image of Marilyn Monroe on display at the Canton Fair in Guangzhou. The mood of the fair activities is mixed. Photo: NYT

His factory has been robbed, he cannot move around in public without armed guards, and the business climate couldn't be more alien. Yet, Zheng Yongjiang believes that moving some of his production lines to Angola is one of the smartest things he ever did.

19 Oct 2012 - 3:33am