Markets

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...

Malaysian Prime Minister and Finance Minister Najib Razak face explosive allegations of embezzlement, corruption, and electoral manipulation that go to the very core of his leadership and the legitimacy of his government. United Malays National Organisation (UMNO), Najib’s political party,...

The rapid rise of China’s outbound direct investment (ODI) in the past decade is a significant economic phenomenon — one met with a lot of resistance in some destination countries, particularly due to the abundance of state-owned enterprises (SOEs). However,...

On the International Day Against Drug Abuse and Illicit Trafficking, Chinese President Xi Jinping announced that the Communist Party and the Chinese people would stand firm and defeat illicit drug use through a ‘people’s war’. Xi, not shy about hyperbole,...

Human rights — chiefly political and religious freedoms — have been on the American agenda since Washington and Hanoi resumed direct dialogue about a quarter of a century ago. Though bilateral ties have grown vastly broader, US prodding on civil...

When the Obama administration unveiled its New Silk Road Initiative in October 2011, officials asserted that it was about re-embedding Afghanistan firmly into the economic life of Central Asia through the provision of US assistance to develop infrastructural links between...

EM assets are starting the week under pressure.  Idiosyncratic factors in Brazil (more political noise) and Turkey (election risks and a terrorist attack) meant that these countries are the hardest hit. EM assets are starting the week under pressure.  Idiosyncratic...