Mixed Oct economic data reflects an uneven recovery. Resilient industrial production (IP) growth was underpinned by China’s rising electric car industry and related industries. Stronger-than-expected headline retail sales were driven by low base effects as underlying spending growth remained soft. Nevertheless, car sales were a bright spot. Real estate investment continued to drag down overall investment growth. Increased fiscal and monetary support will help sustain the recovery. Fiscal policy has turned more supportive and is expected to aid growth and…
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Creating a Resilient and Sustainable Future for All We, the Economic Leaders of APEC, met in San Francisco, California, on November 16-17, 2023. Three decades after the United States hosted the first APEC Economic Leaders’ Meeting on Blake Island near Seattle in 1993, it is clear our steady commitment to APEC’s mission has helped our region become a vanguard of global growth. Here in San Francisco, we emphasized that effective policies require, above all, responsiveness to all our people and…
The President of the Republic Dina Boluarte on Friday 17th Nov 2023, received the Pro-Tempore Presidency of the Asia-Pacific Economic Cooperation (APEC) forum for 2024 from United States President, Joe Biden. The handover took place in a ceremony led by the U.S. Head of State, who underscored some issues addressed during this year’s summit, such as the participation of women in the economic sector and the use of technological advances. In turn, Mrs. Boluarte invited the 21 APEC member economies…
On October 29th 2023 – PBEC’s Sebastian Man hosted a small group of distinguished leaders in HK including PBEC CEO Michael Walsh for a dinner with the Former Consul General of the USA to HK and Macau Kurt Tong. He joined The Asia Group LLC a business advisory firm in 2019 with offices across Asia and HQ in Washington D.C. Kurt Tong is Managing Partner and member of the Executive Committee at The Asia Group, where he leads consulting teams…
We are delighted to announce that Ron Hoffmann of SixRing Inc. a leader in the renewable #albertaenergy sector has agreed to rejoin PBEC – Pacific Basin Economic Council as a strategic advisor to the board on all matters regarding #canada and #northamerica – It’s a voluntary role at the non-profit. Ron is a recognized and highly respected figure amongst his peers within both industry and government circles on both sides of the Pacific. His passion for progressing and advocating cross-border…
Geostrategic and Geoeconomic Challenges Facing a New Multipolar World Geo-economic trends, technological competition and Geopolitics means higher uncertainty for APAC region in future. PBEC is pleased to share this interesting presentation of latest economic data from a respected scholar Tan Sri Andrew Sheng Chairman, George Town Institute of Open Advanced Studies, Wawasan Open University, Penang in Malaysia who spoke at the recent PBEC supported Chinese Economic Technology Summit held in Shenzhen at the Shangri-la Hotel on 7th Nov 2023. View attached slide…
DL Holdings Group Limited (“DL Holdings” or the “Company”, together with its subsidiaries, the “Group”, Stock Code: 1709.HK) issued a voluntary announcement on the Hong Kong Stock Exchange today, announcing that the Company officially launched the global artificial intelligence (AI) family office with a year of preparation, which would accelerate the global strategic planning of AI wealth management on top of the foundation of the existing digital family office. Read More HERE: https://finance.yahoo.com/news/dl-holdings-1709-hk-launched-101100884.html
The negative factors that affected the stock market are in the rear-view mirror or getting there, and the prospects of higher stock prices in the months ahead are supported by rebounding earnings growth, a recovering economy and cheap valuations, according to Michael Kokalari, chief economist at VinaCapital. Read More HERE: https://vietnamnews.vn/economy/1636502/vn-stock-market-ready-for-rebound-as-negative-factors-abate-vinacapital.html
Chinese retail sales grew in October at the fastest rate in five months, data showed Wednesday, boosted by an extended holiday at the start of the month, though other indicators pointed to still-sluggish demand in the world’s number-two economy. The country slipped back into deflation last month, while exports continued to fall, highlighting the challenge for officials grappling with weak domestic consumption and a faltering recovery since Beijing abolished strict zero-Covid curbs in late 2022. Read More HERE: https://www.ibtimes.com/china-retail-sales-surge-october-economy-remains-sluggish-3718551
APEC LEADERS BACK WTO: Leaders of APEC have backed a global trading system with the WTO at its core. In a Golden Gate Declaration in San Francisco they said they were committed to reform of the WTO to improve its function including having discussions to have a fully-function dispute system restored by 2024. IPEF LEADERS MEET: Leaders of the IPEF economies have welcomed the ministerial signing of a supply chain agreement. They also announced the substantial conclusion of negotiations for…