Markets

Australia’s decision to award the French firm DCNS the contract to design and build new submarines for its Navy was a controversial one. DCNS will build a scaled down conventional version of its Barracuda-class nuclear submarine with all, or most,...

It has been long recognized by the investment community that power in Turkey was concentrated in Erdogan's hands.  He enjoys incredible power in the ceremonial presidential post and brooks no rivals.  Common among authoritarian leaders is that they habitually turn...

In light of the Fed’s dovish tilt in March, the global liquidity outlook turned further in favor of EM.  As a result, EM extended the bounce off the January/February lows.  There is no clear narrative as to why EM is...

State-owned enterprises (SOEs) are often thought to dominate the Chinese market, with profound implications for the global economy. The US–China Economic and Security Review Commission stated that ‘Soviet-style, top-down planning remains a hallmark of China’s economic and political system’. State-owned...

One thing that the current presidential campaign in the Philippines has highlighted is how liberal democracy Philippines-style continues to fail to deliver rule of law. The rule of law is, and has always been, at the centre of the discourse...

Many travellers’ favourite game involves finding original ways of increasing the amount of duty-free goods they bring through customs. Here in Australia, for example, we appear so fascinated by customs procedures that the reality TV show Border Security is in...

It might not be on investors' calendars, but European officials will take steps toward addressing two issues tomorrow.  First, the EC will make a preliminary recommendation of visa-free travel in the Schengen area for Turkish passport holders.  Second, the ECB...

Sri Lanka’s former pro-Chinese ‘strongman’ President Mahinda Rajapaksa was voted out of office in January 2015. The new administration, led by President Maithripala Sirisena, is committed to more ‘balanced’ major power relations. Sri Lanka’s former pro-Chinese ‘strongman’ President Mahinda Rajapaksa...

The steady state in the Asian region is growth and dynamism that requires continuous structural change and adjustment. The trajectory of China’s potential rate of growth is certainly 2 or 3 percentage points lower than it was a decade ago,...

India’s rapid economic growth has resulted in a substantial increase in solid waste generation in urban centres. Urban areas in India alone generate more than 100,000 metric tonnes of solid waste per day, which is higher than many countries’ total...

Yesterday, China announced one of the most important tax reforms of the past twenty years.  It is replacing a business tax on gross revenue for non-manufacturing companies with a VAT.  Manufacturing companies have been subject to a VAT approach for...

EM ended the week on a firm note, which should carry over into this week.  The biggest near-term risk to EM is the US jobs data on Friday, as the weekly claims data points to another strong gain.  Otherwise, the...

In making a preliminary decision on the sale of S. Kidman & Co to a Chinese consortium, the Treasurer Scott Morrison has shed some light on what the government defines as being in the “national interest”. He describes the Chinese...

The economic and political reach of the US, arguably the most visible and vocal Western country on the African continent is gradually being diminished. This follows a pattern in which the economic and political stronghold of Western countries has ebbed...

Mahathir Mohamad, Malaysia’s former prime minister, seems to have missed the mark with the Citizen’s Declaration that he has so vigorously supported. The bulk of the Declaration is directed at Prime Minister Najib Razak and his alleged wrongdoings in connection...