Higher oil prices start to pinch Asian consumers
SINGAPORE -- Surging oil prices are starting to pinch the pocketbooks of Asian consumers and could quicken inflation and slow economic activity in a region that has led global growth in recent years....
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World Bank cuts China, Indonesia growth estimate; warns of asset bubbles
SINGAPORE - The World Bank on Monday scaled back slightly its 2013 growth forecasts for developing East Asia and warned about possible over-heating in the region's larger economies that could stoke inflation and asset bubbles.
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Found 1 month ago on channel
Reuters
Is Asia Heading for a Debt Crisis?
Of the many reasons why Asia (outside of Japan) weathered the Great Recession more ably than other parts of the world, one of the most important was the fact that the region never experienced a financial crisis. The banks of Asia generally avoided indulging in the toxic sub-prime securities that tanked some of Wall Street’s most famous institutions. Part of the reason was they could earn real returns in their core business – lending to expanding companies in their high-growth home economies. The banks, too, had also learned a lesson – a painful lesson – from the 1997 Asian financial crisis about the dangers of risky lending and unsustainable debt, and had become more conservative than they had been in the past. Government officials in Asia, as well, tend to take an old-fashioned attitude on budget spending and borrowing (again, outside of Japan), and they, unlike their counterparts in Europe, were able to stimulate their economies without undercutting their solvency. Now, however, ...
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Asia's factories show signs of revival, but exports sluggish
SINGAPORE - Manufacturing activity in Asia expanded in December as China's economy showed signs of revival but export demand was uneven, pointing to further sluggish growth for the region, business surveys suggest.
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Found more than 1 month ago on channel
Reuters
Asian shares fall from nine-month high on weak U.S. data
SINGAPORE - Asian shares slipped on Tuesday after a plunge in U.S. manufacturing activity hit American stocks and the dollar, while the euro hovered near a six-week high on optimism over Greece's plan to buy back debt.
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Found more than 1 month ago on channel
Reuters
Forget the Fiscal Cliff: Why Obama Is in Asia
It might seem strange that newly re-elected President Barack Obama has chosen this moment to jet off to Asia. After all, he’s left a mess of problems back home. The White House is in the midst of tense negotiations with Republican Congressmen over a budget compromise to avoid the looming “fiscal cliff.” The nation is still smarting from a long and divisive election. And even in the realm of foreign policy, Asia doesn’t seem to be the priority right now, with a conflict escalating between Israel and Hamas in Gaza. Obama isn’t even visiting Japan or South Korea, historically America’s most important allies in Asia, or landing in China to deal with Washington’s many economic issues with the world’s second largest economy. Instead, he’s attending a summit in Cambodia of the leaders of the Association of Southeast Asian Nations (ASEAN) and others from the region, and making the first visit by a U.S. President to Burma (also known as Myanmar). Over the weekend, he toured a Buddhist ...
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