Washington’s threats to end Hong Kong’s special trade status could call into question the city's presence as a separate customs entity and international trading hub.
Governments are preparing for huge Covid-19-related spending that could lead to vast wastage. That can be prevented, argues Bryane Michael of The University of Hong Kong.
Such interventions only serve to worsen wealth inequality and, as a result, could fuel anti-globalization sentiment.
The US-China trade dispute is much more than a battle over a US$420 billion deficit, what the tensions are really about is a race for “geo-technological” superiority.
China’s international agriculture investments represent more than a quest for food security. They are a bellwether of the economy and an indication of the competition and collaboration between state-owned and private enterprise, domestic and international actors, and even rival businesses. As protectionism and nationalism impinge more and more on global trade, Chinese direct investment in the food sector will become more agile and diversified, writes Thomas David DuBois, who conducted his research as a visiting fellow at the Fudan University Development Institute in Shanghai.
Persistent and widespread misconduct has fueled distrust in the financial services sector. After an investigation lasting over a year, a commission of inquiry in Australia uncovered a shocking level of systemic malpractice and the culture of self-interest and lack of accountability that led to it. Asia-Pacific countries, where economies and services sectors are expanding rapidly, would be wise to learn from those mistakes, writes business ethics expert Eva Tsahuridu of RMIT University in Melbourne.
With the process for selecting a new managing director of the International Monetary Fund (IMF) starting, Vasuki Shastry, who worked in senior communications and public affairs roles at the organization, argues that Asian countries should overcome their traditional reluctance and geopolitical impediments and differences to support a candidate from the region.
The rise in trade tensions between the US and China may be due to the American side’s failure to appreciate the implications of China’s not being a rule-of-law country – that administrative action, not laws on the books, get things done in China, writes Zhiwu Chen, Director of the Asia Global Institute (AGI) and Victor and William Fung Professor in Economics at the University of Hong Kong (HKU).
The extreme volatility of cryptocurrencies in 2018—which saw the most widely traded cryptocurrency, Bitcoin, plunge from US$10,166 in January to US$3690 in December—made even the most bullish traders recoil from their terminals. However, one sub-sector of the nascent asset class defied the trend: stablecoins.
Why are mobile phones and bottles of Coca-Cola available in even the most remote parts of Asia, but reliable essential services, such as drinking water, electricity, and clean cooking fuels, are not? More inclusive and effective basic service delivery models are needed to benefit the poor, and the social enterprise sector may hold the key.
Asia is leading the way in digital asset markets, but individual countries are taking markedly different paths toward regulation and management in establishing themselves as cryptocurrency hubs, balancing innovation and regulation. Investors should be vigilant about the risks associated with alternative capital-raising methods.
The Asia-Pacific population has been undergoing dramatic aging, which is transforming the region’s demographic landscape beyond recognition. The region is currently ill-equipped to meet this critical challenge, particularly due to a lack of sound and efficient pension systems.
Just a few years ago, the renminbi seemed destined to become one of the world’s most significant currencies. However, its attractiveness has plunged as international investors seek currencies with legal security, ease of use and, critically, unrestricted convertibility.
The internet has taken much of the human interaction out of international trade. But many commercial buyers continue to emphasize face-to-face communication with sellers.
The recent impeachment and subsequent removal from office of South Korean President Park Geun-hye have revealed the extent of state-business collusion in the country. But this is far from being a solely Korean story, as it puts ties between public and private actors under the spotlight.