Markets

SOEs contribute to 23.4 percent of industrial revenue and 21.6 percent of profits — a significant drop from more than 80 percent of both industrial revenue and profits at the start of the reform and opening up in the late...

At least embattled Malaysian Prime Minister Najib Razak is right about one thing. The current mess in Malaysian politics is the making of his greatest nemesis, Mahathir Mohamad, who led the Southeast Asian nation with an iron fist from 1981–2003....

There is a potential mega-battle brewing over trade rules and the provision of market economy status for China that could reach the World Trade Organization (WTO) in 2016. Whether particular countries grant China market economy status has important implications for...

In late October 2013, the Chinese Communist Party Central Committee held a conference of Diplomatic Work with Neighbouring Countries in Beijing, where it unveiled new priorities under its New Neighbourhood Diplomacy guidelines. The new approach makes China’s neighbourhood, covering both...

EM assets start the week on a softer footing.  The China situation remains unsettled, with stocks on Monday posting their biggest one-day loss in eight years.  More support measures seem likely if the rout continues.  The calm in China equity...

The parliament of a representative democracy is essentially a mirror of the democracy’s society. Naturally, societies still entrenched in patriarchal constructs have male-dominated legislatures. While there is still a global underrepresentation by women in decision-making roles, the Indian Parliament in...

While the Philippines has had robust economic growth since 2010, even despite a weak global economy, it has had little progress in reducing income poverty. Recognising that growth processes leave out some segments of society, the Philippine government has made...

The yen has been on the sidelines this week.  It is flat against the dollar.  Japanese stocks and bonds are also little changed.  The benchmark 10-year bond yield has fallen by less than two bp on the week, the least...

1) Brazil’s government cut the primary surplus target for 2015 to 0.15% of GDP, 2) The situation in Turkey is becoming even more complicated, reinforcing our view that the tail risks are increasing, 3) It appears as if Ukraine has...

The redeployment of a Chinese oilrig in the South China Sea (SCS) shows an inconsistency in the rhetoric and practice of China’s policy in the disputed waters. Together with its mass land reclamation activities, these actions are part and parcel...

Twenty years after the post–war normalisation of Vietnam–US ties, the two nations are increasingly close. This process has sped up with China’s moves in the South China Sea since 2014, although a number of issues still hold the relationship back: ...

The new Conservative government is letting slip its commitments to renewable energy and climate change mitigation. The bad decisions keep coming, and do not add up to a policy strategy consistent with the UK’s emissions and efficiency targets, and more...

China has amassed one of the largest pools of capital.  It was in the form of central bank reserves.  At its peak, it was around $4 trillion.  The composition of these reserves is a closely guarded secret. However, if the...

The economic progress of China over the past 40 years or so has been remarkable. Part of that success has been due to the role that the state has played in creating a stable, long run environment for business to...

At a time of slowing economic growth and massive corporate debts, a deflationary spiral would be China’s worst nightmare. In addition, the risk is mounting. The producer price index (PPI) has been in negative territory for 39 consecutive months, since...