In the lead-up to the federal budget the government has made it clear, it sees the long-term task of fiscal management in terms of cutting expenditure rather than raising revenue.
We have been repeatedly told the Rudd-Gillard government let spending get out of control and that we must now rein in outlays and “repair” the budget to avoid a Mediterranean-scale disaster.
Digital disruption is a phrase increasingly bandied about when it comes to the Australian economy, but how deeply do digital technologies really penetrate our industry.
1) The Brazilian central bank indicated less FX swaps and additional monetary tightening, 2) After a delay, Israel has a new government, 3) Saudi Arabia will open up its stock market to foreign investment, 4) The Argentine political outlook has gotten more interesting, 5) Vietnam devalued the dong for a second time in 2015
There are certain dates that hold special significance to particular communities of people. For the Vietnamese population, and the many men and women who served in the Vietnam War, 30 April is an unforgettable date. Vietnam celebrates the day as a national holiday, as it marks the liberation of the Vietnamese people from the yoke of colonial rule with the fall of Saigon in 1975.
Australian politicians often say ‘Australia-China relations are crucial to Australia’s development and prosperity’. Many hope the China–Australia FTA, due to be signed later this year, will be the shot in the arm Australia’s economy needs.
Thailand’s current development model may not be able to sustain growth in the long term. Thailand needs to make the shift to a knowledge-based, innovative economy — and this means that policy settings will need to change.
Thailand’s economic development derives mainly from cheap labour. The manufacturing sector relies upon foreign technology. With comparatively low labour costs, as well as government support for infrastructure and investment incentives, the Thai manufacturing sector has thrived as the main driver of economic growth over the past few decades.
In his 29 April speech to US Congress, Japanese Prime Minister Shinzo Abe proudly referred to his administration’s ‘sweeping reforms to our agricultural cooperatives that have not changed in 60 long years’. But the draft bill presented to the Diet on 3 April to reform the Japan agricultural cooperative (JA) organisation is a very much watered-down version of the initial recommendations for JA reform from the Agriculture Working Group of the Regulatory Reform Committee in May 2014.
Japan and the yen seem sidelined. Japanese markets were closed for the first half of the week during for the Golden Week holidays. The weakness of the US economy and the concurrent doubts about Fed tightening this year, coupled with the dramatic reversal of euro zone assets after strong gains in Q1 have kept traders and investors focused elsewhere.
Godrej Group chair Adi Godrej believes that India’s current government can lead India in becoming the world’s most powerful economy. Godrej believes now gone regulations hampered India’s progress. Godrej is the 73-year-old patriarch of his company, specializing in such areas as security, appliances, real estate and agriculture. The firm operates in 28 countries, with plans to venture into emerging economies.
Indonesia’s independent central bank is struggling to maintain its tight monetary policy to combat rising prices.
Bank Indonesia Governor Agus Martowardojo has maintained that the country needs a high interest rate, despite a regional slowdown tied to falling demand in China. Pointing at high inflation rates, the central bank has said it needs to maintain high interest rates to fight inflation and the country’s sizeable current-account deficit.
