Posts belonging to Category ASEAN

Digital yuan nears launch

China sweats over Libra

China appears on track to launch a sovereign digital currency next year, becoming the first major country to do so, as Beijing aims to track money flows more closely and combat planned cryptocurrencies such as Facebook’s Libra.

With work completed on conducting research and setting standards for the virtual yuan, the next step involves choosing a region for a test launch, Fan Yifei, deputy governor of the People’s Bank of China, said at the end of November. A month earlier, former Chongqing Mayor Huang Qifan told a Shanghai forum that the PBOC was likely to be the world’s first central bank to launch a digital currency.

Digitizing the yuan should lighten the workload for banks by reducing cash circulation, but the move also lets Beijing tighten scrutiny of international transactions and promote the use of its currency on the global stage.

The virtual yuan additionally looks to serve as a preemptive strike against Libra, a cryptocurrency backed by major companies like Facebook that has Beijing worried both about capital outflows and about losing more ground to the dollar.

The world’s biggest electric vehicle battery makers

Bitter row between South Korea’s SK Innovation and LG Chem risks exacerbating the potential shortfall

Asian companies dominate the market for electric vehicle (EV) batteries and they are expanding their production capacity in Europe, China and the United States in a fight to win lucrative contracts from global automakers. Some carmakers worry, however, there won’t be enough batteries for all the EVs they plan to launch in the coming years and a bitter row between South Korea’s SK Innovation and LG Chem risks exacerbating the potential shortfall.

Below are details of the world’s leading EV battery makers with details of their customers and expansion plans.

Asian stocks retreat

U.S. political tumult adds to growth worry

Asian stock markets retreated again on Wednesday, extending a rout that began last week as U.S. political uncertainty exacerbated worries over slowing global economic growth.

Investors were unnerved by the U.S. federal government partial shutdown and President Donald Trump’s hostile stance toward the Federal Reserve chairman. U.S. Treasury Secretary Steven Mnuchin had also raised market concerns by convening a crisis group amid the pullback in stocks.

S&P 500 emini futures were last down 0.6 percent, pointing toward a lower start for Wall Street when the U.S. market reopens after Christmas Day, when many of the world’s financial markets were shut.

US futures are down sharply

North Korea’s missile launch over Japan is hitting global markets

North Korea launched a ballistic missile that passed right over Japan, and that’s set markets on high alert, with four big movers. U.S. stock futures were a big early mover, with the Dow Jones industrial average mini futures dropping as much as 147 points to 21,644 in a knee-jerk reaction. That compared with the index’s close on Monday at 21,808.40. The DJIA futures later regained some lost ground, trading down 109 points at 21,682 at 10:02 a.m. HK/SIN.
Perhaps counterintuitively, Japan’s currency move higher — because it generally does well when nervous investors are looking to park their money somewhere secure. It climbed against the greenback, with the dollar fetching as little as 108.32 yen in early Tuesday trade, down from levels approaching 111 yen earlier in the month.…  Tue.,  29  August 2017

Philippine: the "demographic window"

The Philippine economy can post an average growth of over 7% in the next 10 years – with quality workforce and an attractive investment climate. — Wed, 30 Sep 2015 22:24:03 -0700

Coal in Asia and the climate change

As Japan helpfully explained, they consider building coal plants in poor countries to be “climate finance”, when the coal plants in question are high efficiency supercritical coal generators. The argument appears to be, the coal plants will be built anyway ….. If we wanted to reduce global CO2 output the most effective thing we could do is expand research and efforts to clean up coal and share our technology worldwide. For us (and I think it is unfortunate) that train has probably already … — Fri, 25 Sep 2015 16:00:52 -0700

China's Stock Markets

Of course – as US equities roared to record highs today in the face of the most serious Grexit fears yet and a Fed that just admitted the economy is FUBAR – Chinese stocks are for once derisking responsibly (for now). But there are more … — Thu, 18 Jun 2015 20:03:20 -0700

China Economy

China saw its imports plunge 18.1% year over year in May, while exports recorded a further decline, according to official figures published Monday, revealing some disturbing numbers on the world’s second largest economy. — Sun, 07 Jun 2015 23:19:43 -0700

Global Capital Markets

Global capital markets will undergo tremendous changes in the next five years, with Asia potentially developing financial centres that could rival London and New York, a PwC study says. อ่านต่อ… — Sun, 24 May 2015 21:51:59 -0700

Asia economy

This reflects the potential for slower-than-currently-expected growth in China and Japan, which could spill over to the rest of the region—and the global economy—through trade and financial channels. Debt levels—including foreign … — Wed, 06 May 2015 21:25:00 -0700

The Silk Road

Qian’s diplomatic missions paved the way for trade routes that linked China to Central Asia and Europe. The world came to know those trade routes as the Silk Road. — Fri, 24 Apr 2015 17:00:54 -0700

Asian markets

Money printing by the global central banks has caused multiple bubbles over the past couple of decades. Asian equities are the latest but how high can they go? — Wed, 22 Apr 2015 22:18:22 -0700

China produces 80% of the world's air-conditioners

China has transformed itself and the world economy with their export-centric strategy, the country has increased their 3% share of global manufacturing output by value to almost 25%. Currently producing 80% of the world’s air-conditioners, … — Sun, 05 Apr 2015 20:55:51 -0700


As the region seeks to deepen its ties and capture an even greater share of global trade, its economic profile is rising—and it is crucial for those outside the region to understand its complexities and contradictions. The seven insights below … — Sun, 05 Apr 2015 19:18:00 -0700


In 2014, the Philippines hosted the World Economic Forum on East Asia. In 2015, it will … The country seems to be basking under the global spotlight as its economy continues to be one of Asia’s fastest-growing. … Finance Secretary Cesar V. Purisima has been awarded for the fifth time as Finance Minister of the Year, with FinanceAsia recognizing his leadership in driving the turnaround story of the Philippines as head of President Benigno S. Aquino III’s team of economic managers. — Thu, 26 Feb 2015 21:13:00 -0800