Global Economy

Trump sees no Xi summit by tariff date, stoking trade worry
WASHINGTON (Feb 8): President Donald Trump said he won’t meet Chinese President Xi Jinping before a March 1 deadline to avert higher US tariffs on Chinese goods, intensifying fears the two won’t strike a deal before the end of a 90-day truce. Trump responded “No” and shook his head Thursday when reporters at the White House asked him if he would meet with Xi this month. Then he added, ...
China’s economic woes spread across Asia with more pain seen
SINGAPORE (Jan 31): China’s weakening economy is roiling export markets in the rest of Asia – and there’s more pain to come. From Hong Kong to Japan, exports data for December showed a marked downturn as supply-chain disruptions triggered by US-China tensions and a cyclical slowdown in the world economy, led by China, hit the trade-reliant region. More bad news is in store for ...
IMF cuts global growth outlook, cites trade war and weak Europe
DAVOS, Switzerland (Jan 21): The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilise a slowing global economy. In its second downgrade in three months, the global lender also cited a bigger-than-expected slowdown in China’s ...
Bright spots to be found in bleak 2019 global growth outlook: Fitch
SINGAPORE (Jan 18): Fitch Ratings says decent US domestic demand and real GDP growth of over 6% for China are still two achievable scenarios in 2019, in spite of market concerns of a sharp downturn in growth this year. According to a note issued by Fitch on Thursday, the ratings agency says the broad contours of its Dec 2018 Global Economic Outlook (GEO) forecasts for 2019 – which entail ...
Trump calls meeting with lawmakers, suggests he's open to a deal
WASHINGTON (Jan 2): President Donald Trump invited the top congressional leaders from both parties to a White House briefing on border security Wednesday and suggested he wants to “make a deal” to end the government shutdown. It’s the first sign of a possible opening for negotiations to break the stalemate that’s had parts of the government shut for 11 days. Congressional aides said ...
US-China trade talks to take place Beijing in early Jan
WASHINGTON (Dec 27): A US government delegation will travel to Beijing in the week of Jan. 7 to hold trade talks with Chinese officials, two people familiar with the matter said. Deputy US Trade Representative Jeffrey Gerrish will lead the Trump administration’s team, which will also include Treasury Under Secretary for International Affairs David Malpass, according to the people, who spoke ...
Steady, not strong as Southeast Asia faces growth risks in 2019
SINGAPORE (Dec 26): Last year, economists predicted Southeast Asia would be blessed with a strong and vibrant 2018. For next year, they’re not quite so optimistic. Moderating economic growth and higher interest rates lie ahead. The Federal Reserve is set to keep everyone on edge as it navigates an even trickier interest-rate path in 2019, while the trade war between the US and China is ...
Mnuchin called top US bank executives on market stability
WASHINGTON (Dec 24): Treasury Secretary Steven Mnuchin called top executives from the six largest US banks over the weekend, he said Sunday on Twitter, a move that followed heavy losses in the stock market last week and a partial federal government shutdown. “The CEOs confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market ...
Asian business confidence wallows near three-year low on trade worries: survey
SINGAPORE (Dec 19): A very cautious optimism remains among Asian companies in the fourth quarter as they wait to see whether there will be any breakthrough in a trade dispute between the United States and China, a Thomson Reuters/INSEAD survey showed. Representing the six-month outlook of 84 firms, the Thomson Reuters/INSEAD Asian Business Sentiment Index edged up to 63 in the October-December ...
Singapore back among top 20 most expensive locations in the world: ECA International
SINGAPORE (Dec 17): Singapore is once again the world’s top 20 most expensive locations for expatriate workers, with the city state taking its spot at 18th globally and 9th within Asia, according to the latest Cost of Living survey published by ECA International. Last year, Singapore was ranked 21st most expensive city in the world for expats, dropping from 16th in 2016. But its 9th position ...