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- The convention that the World Bank be led by an American is about to be perpetuated with the nomination of US treasury official David Malpass as president
- The nomination of Malpass, a World Bank sceptic, raises concerns about the institution’s future
Malpass will travel to Beijing next week with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, senior administration officials say.
Malpass will travel to Beijing next week with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, senior administration officials say.
President Nicolas Maduro decries a ‘coup’ against his government while opposition leader Juan Guaido calls for a mass protest next week.
President Nicolas Maduro decries a ‘coup’ against his government while opposition leader Juan Guaido calls for a mass protest next week.
Fund expects global growth this year of 3.5 per cent, down from the 3.7 per cent it forecast for 2019 in October.
Fund expects global growth this year of 3.5 per cent, down from the 3.7 per cent it forecast for 2019 in October.
There are no rules that the bank’s board has to approve whomever Donald Trump puts forward. Its leadership and policies should better reflect the needs of a world that has changed much in the past seven decades
There are no rules that the bank’s board has to approve whomever Donald Trump puts forward. Its leadership and policies should better reflect the needs of a world that has changed much in the past seven decades
- Current Hong Kong policies to moderate housing prices, including the stamp duty, should remain in place for now
- Current Hong Kong policies to moderate housing prices, including the stamp duty, should remain in place for now
All three major credit rating agencies have now downgraded the island nation’s status, amid concerns it will be unable to refinance its debts
All three major credit rating agencies have now downgraded the island nation’s status, amid concerns it will be unable to refinance its debts
- The global institution says ‘need for transparent, clear, timely, and comprehensive communication will continue to increase’ as China continues to promote market-based financing
- The global institution says ‘need for transparent, clear, timely, and comprehensive communication will continue to increase’ as China continues to promote market-based financing
Central bank governor Guido Sandleris says the two sides ‘have reached a consensus’ on the deal, days after the IMF approved a US$56 billion loans package to help the nation stabilise its battered economy.
Central bank governor Guido Sandleris says the two sides ‘have reached a consensus’ on the deal, days after the IMF approved a US$56 billion loans package to help the nation stabilise its battered economy.
Pakistani prime minister has gone cap in hand to China in the hope it will partner Saudi Arabia and the IMF in bailing out his country – but Beijing will be wary of getting dragged into the rivalry between Saudi Arabia and Iran.
Pakistani prime minister has gone cap in hand to China in the hope it will partner Saudi Arabia and the IMF in bailing out his country – but Beijing will be wary of getting dragged into the rivalry between Saudi Arabia and Iran.
The political skills of Pakistan’s new government are being put to the test. Islamabad must ensure progress on its belt and road projects with China, and still win Washington’s support to get an IMF loan and stay afloat
The political skills of Pakistan’s new government are being put to the test. Islamabad must ensure progress on its belt and road projects with China, and still win Washington’s support to get an IMF loan and stay afloat
Dan Steinbock says the US-Mexico-Canada Agreement could become a template for major trade deals the Trump administration wants to execute around the world, but it will not be an easy sell.
Dan Steinbock says the US-Mexico-Canada Agreement could become a template for major trade deals the Trump administration wants to execute around the world, but it will not be an easy sell.
Despite repeated accusations by US President Donald Trump that China is a currency manipulator, his own Treasury Department has declined to label it as such
Despite repeated accusations by US President Donald Trump that China is a currency manipulator, his own Treasury Department has declined to label it as such
But Treasury Secretary Steven Mnuchin sent a warning about the lack of transparency and the relative weakness of China’s currency.
But Treasury Secretary Steven Mnuchin sent a warning about the lack of transparency and the relative weakness of China’s currency.
America’s new trade agreement with Mexico and Canada contains two provisions – on currency manipulation and trade with a ‘non-market economy’ – that are drafted with China in mind, and could be used as a template for future accords.
America’s new trade agreement with Mexico and Canada contains two provisions – on currency manipulation and trade with a ‘non-market economy’ – that are drafted with China in mind, and could be used as a template for future accords.
The new prime minister may have preferred to seek financing from China and the Gulf but reality has dawned that even those handouts would come with strings attached.
The new prime minister may have preferred to seek financing from China and the Gulf but reality has dawned that even those handouts would come with strings attached.
Small private firms are the first casualty in the trade war. But these are precisely the type of companies the Trump administration is relying upon to transform China’s economy
Small private firms are the first casualty in the trade war. But these are precisely the type of companies the Trump administration is relying upon to transform China’s economy
The escalating trade tensions between the US and China will have ‘unintended consequences’ for American businesses, according to Moody’s Investors Service
The escalating trade tensions between the US and China will have ‘unintended consequences’ for American businesses, according to Moody’s Investors Service
Changyong Rhee identifies three risks to region’s growth pace: continued escalation of trade tensions, an acceleration of monetary tightening by the US Federal Reserve, and a stronger-than-expected rise in oil prices
Changyong Rhee identifies three risks to region’s growth pace: continued escalation of trade tensions, an acceleration of monetary tightening by the US Federal Reserve, and a stronger-than-expected rise in oil prices
Christine Lagarde says the yuan’s decline of 10.5 per cent against the greenback since February ‘has a lot to do with the strength of the dollar’
Christine Lagarde says the yuan’s decline of 10.5 per cent against the greenback since February ‘has a lot to do with the strength of the dollar’
5 per cent probability for emerging markets facing debt outflows of US$100 billion in the next year, it says
5 per cent probability for emerging markets facing debt outflows of US$100 billion in the next year, it says
Oxfam said inequality had reached crisis levels, with the richest 1 per cent of the global population laying claim to four-fifths of wealth created between mid-2016 and mid-2017, while the poorest half saw no increase in wealth.
Oxfam said inequality had reached crisis levels, with the richest 1 per cent of the global population laying claim to four-fifths of wealth created between mid-2016 and mid-2017, while the poorest half saw no increase in wealth.
Chief economist Maurice Obstfeld says the debt-ridden country should carefully examine its dealings with China as it heads for another bailout
Chief economist Maurice Obstfeld says the debt-ridden country should carefully examine its dealings with China as it heads for another bailout
A potential meeting of US Treasury Secretary Steven Mnuchin and China’s vice-premier, Liu He, will not happen, since Liu will skip the international financial gatherings and a G20 finance ministers and central bank governors’ conference.
A potential meeting of US Treasury Secretary Steven Mnuchin and China’s vice-premier, Liu He, will not happen, since Liu will skip the international financial gatherings and a G20 finance ministers and central bank governors’ conference.
IMF head Christine Lagarde says more needs to be done to get women into Japan’s male-dominated workforce
IMF head Christine Lagarde says more needs to be done to get women into Japan’s male-dominated workforce
Pakistan’s economic woes have been caused by poor policymaking, not its projects with China, but how Beijing reacts will be a lesson to its other belt and road partners.
Pakistan’s economic woes have been caused by poor policymaking, not its projects with China, but how Beijing reacts will be a lesson to its other belt and road partners.