The eighth Horasis Asia Meeting took place over 3-4th December in Bình Duong, Vietnam co-hosted by Binh Duong Province and Becamex IDC. The Horasis Asia Meeting has become the foremost annual meeting for Asia Pacific business leaders and their global counter-parts. The event offers businesses and government officials a platform to discuss a wide range of issues related to the economy. The meeting assembled over 600 delegates from government, businesses and civil society world-wide.\ The COVID pandemic has not ended…
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After a challenging 2023, all indications are that 2024 should be a stronger year for Vietnam’s economy, driven by a rebound in the manufacturing sector and an improvement in consumer sentiment. In addition, the plunge in interest rates throughout 2023 should help boost the real estate market after having helped support the stock market last year. In 2024 we expect GDP growth to increase Domestic consumption growth to recover The VNI to increase by 10-15% Read more…
China Economics Update Jan 2024Credit growth picked up for the third straight month in Dec, reflecting strong government bond issuance. Bank loans were softer than expected. Despite being on a moderating trend, medium- to long-term (ML) corporate loan demand remained resilient in Dec. Growth in household mortgage loans has hovered around recent lows, helped by continued policy relaxation in the property sector. We expect government bond issuance to remain robust in the months ahead. Local governments began to front-load special…
The total nominal GDP of the ten ASEAN nations measured in US dollar terms amounted to USD 3.6 trillion in 2022, more than doubling compared with total GDP of USD 1.6 trillion in 2009. The total size of the ASEAN economy was slightly larger than India in 2022, which had an estimated GDP of USD 3.5 trillion in that year. Read more: https://www.spglobal.com/marketintelligence/en/mi/research-analysis/asean-economic-outlook-in-2024-Jan24.html
At a time when climate change, pandemic threats and technological changes are compounding the disruptive force of more conventional risks such as demographic change and political turmoil, there is good reason to marshal the serendipitous forces that surround us. As “tiger mums” worldwide strive to engineer a successful life for their children, I have always nurtured a temptation to warn them that all those meticulously organised life plans are likely to be laid in vain. Improbable, unpredictable events will almost…
The Pacific Basin Economic Council International Secretariat held a roundtable dialogue luncheon at the Beefbar in Central in January 2024 for Hong Kong based Board of Directors and their representatives. 12 members enjoyed an excellent 3 course meal and shared their latest insights on regional and domestic economic and geopolitical concerns and areas for PBEC to be focused on in 2024. Chairman Andrew Weir MBE JP welcomed former Emeritus PBEC Chairman Dr. Wilfred Wong GBS JP and fellow board members…
New stock offerings in Hong Kong are expected to generate more than double the amount of funds for companies this year, making the city’s stock exchange one of the five busiest venues globally, according to KPMG. The firm expects 90 initial public offerings (IPOs) to raise HK$100 billion (US$12.8 billion), banking on stronger inter-connectivity with the Middle East and spin-off listing opportunities to fill the pipeline. Positive sentiment among investors in artificial intelligence or AI, semiconductor and green technology could…
AUSTRALIA & CHINA TALK TRADE: Trade Minister Farrell and Commerce Minister Wang met virtually on Tuesday where they co-chaired a 17th Joint Ministerial Economic Commission meeting. Minister Farrell used the forum to resolve outstanding trade impediments affecting rock lobster and red meat trade. NEW ZEALAND LASHES CANADA: Trade Minister McClay is seeking legal advice after accusing Canada of failing to comply with a dairy trade ruling. He described Canada’s refusal to implement the ruling under the CPTPP FTA as cynical….
EU PUBLISHES COMPREHENSIVE CHINA REPORT: The EU has published an update of a 2017 report on state-induced distortions in China’s economy. It aims to provide information for trade remedy inquiries and focusses on China’s support for sectors including new energy vehicles and environmental goods. AUSTRALIAN MINISTER LEADS FIRST DELEGATION: Assistant Trade Minister Ayres has this week led an Australian Business Mission to Singapore and Malaysia. The Business Mission is the first under Australia’s new ASEAN Business Exchange Program and focussed…
AUSTRALIA TO BOOST EXPORT GRANTS: The Government introduced legislation to Parliament this week to streamline and boost the effectiveness of its Export Market Development Program. The major changes to the program include increased grants and earlier access to the funding for successful business applicants. NEW ZEALAND RACES TO IMPLEMENT EUROPEAN FTA: New Zealand’s Parliament has this week been completing the necessary legislative actions to allow ratification of the New Zealand-European Union FTA. New Zealand hopes the FTA can be introduced…