Topic
TOPIC
The Global Financial Crisis of 2007-2008 was widely blamed on the subprime crisis and its fallout, which led to the collapse of Lehman Brothers in 2008, with the US government forced to bail out AIG, and to rescue both General Motors and Chrysler, while also adding liquidity to avert a severe credit crunch in the banking sector. Banks in Europe, the US and Britain also came under extreme pressure and the GFC contributed to the euro zone sovereign debt crisis.
- There are signs banks will be pushed down the pecking order in Washington’s new mission to bring jobs and industries home
- Observers say financiers have dominated US trade policy since the 1980s but their influence appears to be on the wane
Are the “anti-Wall Street” tactics deployed by Reddit users capable of correcting the errors of the capitalist financial system or just pushing it into another death cycle?
Are the “anti-Wall Street” tactics deployed by Reddit users capable of correcting the errors of the capitalist financial system or just pushing it into another death cycle?
Toeing the party line, censorship, and strict controls on capital flows are among the challenges facing foreign firms that wish to gain entry into China’s massive yet restrictive state-led economy.
Toeing the party line, censorship, and strict controls on capital flows are among the challenges facing foreign firms that wish to gain entry into China’s massive yet restrictive state-led economy.
Barack Obama says that a hardline approach to China on trade is ‘entirely legitimate’, amid speculation that president-elect Joe Biden will continue Donald Trump’s tough stance.
Barack Obama says that a hardline approach to China on trade is ‘entirely legitimate’, amid speculation that president-elect Joe Biden will continue Donald Trump’s tough stance.
In the lead-up to virtual leaders’ summit next week, former China finance vice-minister says G20 must take a stronger lead during pandemic and recession.
In the lead-up to virtual leaders’ summit next week, former China finance vice-minister says G20 must take a stronger lead during pandemic and recession.
Extent of China’s V-shaped economic recovery will ultimately depend on the performance of the global economy, and the ongoing wave of anti-globalisation is cause for alarm in the near-term, Lou Jiwei warns.
Extent of China’s V-shaped economic recovery will ultimately depend on the performance of the global economy, and the ongoing wave of anti-globalisation is cause for alarm in the near-term, Lou Jiwei warns.
Traders are grappling with the vexing questions: where will China and Hong Kong markets go after November 3? Who is better for the stock market – a Democrat or Republican president?
Traders are grappling with the vexing questions: where will China and Hong Kong markets go after November 3? Who is better for the stock market – a Democrat or Republican president?
Local employment has been in focus recently, with Singapore making moves to support domestic talent and curb the amount of foreign employees on its shores.
Local employment has been in focus recently, with Singapore making moves to support domestic talent and curb the amount of foreign employees on its shores.
The city state is to spend an extra US$5.8 billion on stimulus measures, but subsidies will taper off as the finance minister warns scheme is unsustainable at current levels.
The city state is to spend an extra US$5.8 billion on stimulus measures, but subsidies will taper off as the finance minister warns scheme is unsustainable at current levels.
Covid-19 has pushed the world to the brink of another financial crisis, as ‘problematic’ global QE programmes won’t overcome the slump in consumption, says Joseph Yam, former chief of Hong Kong’s de facto central bank.
Covid-19 has pushed the world to the brink of another financial crisis, as ‘problematic’ global QE programmes won’t overcome the slump in consumption, says Joseph Yam, former chief of Hong Kong’s de facto central bank.
While the US Federal Reserve’s aggressiveness in easing financial conditions has succeeded in halting a further decline in the US economy, companies could still go bankrupt.
While the US Federal Reserve’s aggressiveness in easing financial conditions has succeeded in halting a further decline in the US economy, companies could still go bankrupt.
Economic recovery likely to be ‘long and drawn’ out, setting up a potential correction in financial markets, according to DBS CEO Piyush Gupta
Economic recovery likely to be ‘long and drawn’ out, setting up a potential correction in financial markets, according to DBS CEO Piyush Gupta
Economists see little reason to change gloomy 2020 growth forecasts for China after its stimulus announcement last week, with most seeing expansion of 2.5 per cent at most.
Economists see little reason to change gloomy 2020 growth forecasts for China after its stimulus announcement last week, with most seeing expansion of 2.5 per cent at most.
A combination of US restrictions, Beijing’s outbound capital regulations and the deteriorating US-China relationship contributed to the pullback. The outlook for 2020 is bleak as the global pandemic takes a toll.
A combination of US restrictions, Beijing’s outbound capital regulations and the deteriorating US-China relationship contributed to the pullback. The outlook for 2020 is bleak as the global pandemic takes a toll.
China’s exports rose and imports fell in April, as the country continued on its path to economic recovery following the coronavirus outbreak.
China’s exports rose and imports fell in April, as the country continued on its path to economic recovery following the coronavirus outbreak.
A virtual summit of 40 countries hosted by the European Union hopes to raise US$8.2bn to develop vaccines and treatments and ensure they are distributed equally.
A virtual summit of 40 countries hosted by the European Union hopes to raise US$8.2bn to develop vaccines and treatments and ensure they are distributed equally.
Bank tech executives raced to source laptops, boost bandwidth for staff working from home amid coronavirus pandemic.
Bank tech executives raced to source laptops, boost bandwidth for staff working from home amid coronavirus pandemic.
The number of residential mortgages in negative equity – where outstanding loan amount exceeds the current market value of the underlying property – tripled to 384 in Hong Kong at the end of March.
The number of residential mortgages in negative equity – where outstanding loan amount exceeds the current market value of the underlying property – tripled to 384 in Hong Kong at the end of March.
The reluctance among some of Asia’s wealthiest families to rush for deals is potentially a warning sign for the global economy, suggesting forecasts of a rapid rebound after the recession may not pan out.
The reluctance among some of Asia’s wealthiest families to rush for deals is potentially a warning sign for the global economy, suggesting forecasts of a rapid rebound after the recession may not pan out.
Europe’s biggest bank increased its provisions for loan losses and impairments to US$3 billion in the first quarter, the highest in nine years, as the coronavirus pandemic weighed on clients.
Europe’s biggest bank increased its provisions for loan losses and impairments to US$3 billion in the first quarter, the highest in nine years, as the coronavirus pandemic weighed on clients.
Repeated interventions in forex markets have lowered a key interest rate for mortgage borrowers and SMEs but has the de facto central bank done enough to stimulate economic recovery?
Repeated interventions in forex markets have lowered a key interest rate for mortgage borrowers and SMEs but has the de facto central bank done enough to stimulate economic recovery?
Hong Kong’s biggest banks are likely to announce larger reserves for bad loans as coronavirus weighs on global economy, according to analysts.
Hong Kong’s biggest banks are likely to announce larger reserves for bad loans as coronavirus weighs on global economy, according to analysts.
Banks wrestle with moral hazard of lending to zombie companies amid coronavirus pandemic as more borrowers queue up for credit in toughest conditions since the 1997-98 Asian financial crisis.
Banks wrestle with moral hazard of lending to zombie companies amid coronavirus pandemic as more borrowers queue up for credit in toughest conditions since the 1997-98 Asian financial crisis.
The IMF has slashed its global economic growth forecast to minus 3 per cent in 2020, saying the coronavirus will cause damage ‘far worse’ than the global financial crisis.
The IMF has slashed its global economic growth forecast to minus 3 per cent in 2020, saying the coronavirus will cause damage ‘far worse’ than the global financial crisis.
The coronavirus pandemic is likely to cause ‘radical shifts’ in how businesses operate, and how consumers behave, analysts and strategists say.
The coronavirus pandemic is likely to cause ‘radical shifts’ in how businesses operate, and how consumers behave, analysts and strategists say.
‘We do not want a chaotic approach to dealing with what is essentially a global health crisis and a global economic crisis,’ former leader says.
‘We do not want a chaotic approach to dealing with what is essentially a global health crisis and a global economic crisis,’ former leader says.
Zhu Jun from the People’s Bank of China says the risk is small, but the world must be alert to the threat.
Zhu Jun from the People’s Bank of China says the risk is small, but the world must be alert to the threat.
Millions of people around the world face joblessness and major companies are being forced to take major financial assistance from governments. Many small and medium-sized businesses have already closed their doors forever, as many others are forced to contemplate their immediate futures amid the continuing Covid-19 pandemic. Some of the most vulnerable are people who work in the “gig economy”, surviving on part-time jobs, often with no contracts or benefits. John Carter, senior editor with the South China Morning Post’s political economy team, sheds some light on the situation.
Millions of people around the world face joblessness and major companies are being forced to take major financial assistance from governments. Many small and medium-sized businesses have already closed their doors forever, as many others are forced to contemplate their immediate futures amid the continuing Covid-19 pandemic. Some of the most vulnerable are people who work in the “gig economy”, surviving on part-time jobs, often with no contracts or benefits. John Carter, senior editor with the South China Morning Post’s political economy team, sheds some light on the situation.
A global economic recession was announced on a day when both Italy and Spain reported their highest daily death tolls yet amid the pandemic.
A global economic recession was announced on a day when both Italy and Spain reported their highest daily death tolls yet amid the pandemic.
France under Napoleon III, Britain under Winston Churchill and Soviet Russia under Mikhail Gorbachev didn’t know they had already lost the empire until it was too late. The fate of the United States will not be any different.
Former US Federal Reserve chairwoman has the qualities needed to be Treasury chief having tackled economic crises, supported free trade and warned of climate change – all of which should please China