The Japanese government is delivering the other half of its fiscal policy today. Earlier, Abe decided to postpone the sales tax hike for the second time. Today, the cabinet approved a JPY28 trillion (5.6%) of GDP package.
Assuming no surprises in the second half of the year, China’s growth in 2016 will remain near the target of 6.5 percent reflecting structural transition in the mainland, secular stagnation in the West and post-Brexit tensions globally.
In mid-July, China’s second-quarter GDP figures beat estimates with a 6.7 percent expansion, thanks to support by a slate of stimulus measures from the government and the central bank.
Women in Japan voted and stood for office for the first time on 10 April 1946. It was the country’s first postwar election and the first election after the Japanese government amended the Electoral Law to include women. Of the 79 female candidates, 39 were elected to Japan’s national parliament, the Diet.
Seventy years on, what is the state of gender relations in Japan? What issues now stimulate feminist campaigns and activism?
China has had remarkable success in alleviating poverty. According to World Bank statistics, over the past several decades China has accounted for more than 70 percent of reductions in global poverty. The poverty-stricken population in China has plunged from 770 million people in 1978 — the year before economic reforms began — to 55.8 million in 2015. In addition, the Human Development Index (HDI) for China has improved by 43 percent between 1990 and 2013, compared to an improvement of 17.6 percent globally.
Vietnam has transformed from one of the world’s poorest countries to a lower middle-income economy in just 25 years. Beginning in 1986, Vietnam undertook key structural reforms in various areas, including state-owned enterprise (SOE) reform, private sector development, financial reform, public expenditure management and trade liberalisation.
The World Bank predicts that Vietnam could be at the same income level that Malaysia is today by 2035 if the government embraced a number of further structural and institutional reforms.
EM ended last week on a firm note, helped by the weaker than expected US Q2 GDP report as well as the small bounce in oil. With the RBA and BOE expected to ease this week, the global liquidity backdrop remains favorable for EM and “risk.” US jobs report Friday will be very important for EM going forward.
We get our first glimpse of the Chinese economy for July with the PMI readings this week. EM CPI data this week should underscore the low global inflation theme. More EM central banks are likely to join the easing parade in H2.
In the EM equity space as measured by MSCI, Turkey (+4.8%), India (+1.4%), and Qatar (+1.3%) have outperformed this week, while Colombia (-6.4%), Mexico (-3.2%), and Singapore (-2.9%) have underperformed. To put this in better context, MSCI EM rose 0.6% this week while MSCI DM rose 0.6%.
What will happen now that the rains have come to many parched beef lands of Queensland? Current high cattle prices and renewed pastures suggest optimism, even good times. Perhaps record exports from the world’s largest beef exporter? If only if was that simple.
While an important indicator of Australia beef prices peaked recently, analysts warned export volumes were likely to fall.
In the past few weeks, protesters brought Beitbridge, the busiest inland border post in sub-Saharan Africa, to a standstill for several hours. The main concern was the banning of some goods from entering Zimbabwe.
The failed July 15 coup in Turkey has prompted a tsunami of responses by the government that is likely to have a lasting impact on all aspects of politics and society, including the economy.
