Markets Archives - Page 570 of 782

How Vietnam’s Burgeoning Civil Society Is Changing The Nation’s Political Landscape

Since 1976, Vietnam has been controlled by the Communist Party. Till recently, its rule and legitimacy had never been challenged. Recent civil movements however suggest that Vietnamese are gradually rising up against the party, hoping to transform the nation from a one-party state into a democracy.

Vietnam’s political culture is gradually transforming from totalitarianism to pluralism. Why? Because an emerging and independent civil society is openly challenging communist party rule.

China Steps Up Calls To End US Dollar’s Reign As World’s Reserve Currency

As nations worldwide continue to fret over the U.S. budget impasse, China has once again called for the creation of a new international reserve currency to replace the U.S. dollar, in order for the world “to permanently stay away from the spillover of the intensifying domestic political turmoil in the U.S.”

Lowly-Paid US Fast-Food Workers Require $7 Billion a Year in Public Aid: Study

More than half of employees working at the largest fast-food chains in the U.S. are earning so little in wages that they must rely on some sort of public assistance to get by, according to a new study co-published by the University of California-Berkeley and the University of Illinois on Tuesday.

The study, which came after large nationwide protests by fast-food workers this year, found that about 52 percent of U.S. fast-food workers had been dependant on at least one form of public assistance between 2007-2011, costing taxpayers nearly $7 billion a year.

Two Visions: US and Chinese Rebalancing in Asia

As the momentum of economic growth is shifting from the transatlantic axis to Asia, both the United States and China are rebalancing their foreign policies in the region. However, as the recent APEC and ASEAN summits indicate, the way these two great nations are pivoting in Asia is very, very different.

Today, the United States is no longer the dominant economic contributor in Asia. Nonetheless, Washington hopes to restore its primacy in the region to counterbalance China’s role.

Infographic: 21 Shocking Facts About Food Waste In The US

Some 1.3 billion tons of food are wasted every year, according to a United Nations report published in September. Other reports suggest that the number is much higher at close to 4 billion tons.

China To Install GPS Trackers In Government Cars To Prevent Misuse

The Chinese government is set to install GPS tracking systems in all state-bought vehicles, reported local state media last weekend, seeking to crack down on officials who use government cars for their own private purposes.

Congolese Militia Smuggle $500 Million In Gold A Year: Report

M23 militants in eastern Congo have infiltrated several lucrative gold mines in order to bankroll their rebellion by smuggling out nearly $500 million of the precious metal a year, claimed a Washington-based human rights group on Thursday, accusing four African gold exporters for enabling the militia group, which has had a history of human rights violations.

China, Europe Agree To $57 Billion Currency Swap Deal

The People’s Bank of China and the European Central Bank on Thursday have a signed currency swap agreement to boost trade between the two regions, marking China’s largest such deal outside Asia to date and representing a huge step towards the yuan’s internationalisation.

The three-year swap line will have a maximum value of 350 billion yuan ($57 billion) and will allow more trade and investment between the regions to be conducted in euros and yuan, without first having to convert into another currency such as the U.S. dollar.

The 3 Keys To Unlocking China’s Economic Prospects

How long can China sustain its economic growth? To figure this out, we first have to look at three important developments: How quickly will China be able to liberalise its capital markets; Whether China can move its economy away from investment led growth; and finally the effectiveness of Chinese reforms, starting with the Third Plenary Session of the Communist Party next month.

Philippines Introduce Tax ‘Star Ratings’ For Restaurants

Forget the Michelin guide, the Philippines government has created a new and unique ratings directory for dining at restaurants – ranking eateries by the taxes they pay rather than their menu in order to shame those cheating the state out of revenues.