Member states of ASEAN (Source: Wikipedia Commons) Hanoi (VNA) - Member countries of ASEAN need to give priority to promoting ASEAN Economic Community 2025 (AEC 2025) and concluding Regional Comprehensive Economic Partnership (RCEP) negotiations to deal with economic headwinds in 2019, according to a recent article on the website https://www.eurasiareview.com. The article said 2019 will likely see Southeast Asian economies face major economic headwinds namely the US-China trade tensions and the interest rate increases by the US Federal Reserve (Fed). Consequently, the world in 2019 may witness more rounds of tariff escalations or trade-restricting measures being rolled out by Washington and Beijing. Regional economies will have to brace themselves again for future impacts. On the financial front, on December 19, 2018, Fed raised the interest rate from 2.25 to 2.50 points and forecast two increases in 2019, it said, adding that this could trigger capital pullouts from Southeast … [Read more...] about Initiatives help remove economic headwinds facing ASEAN in 2019
Beijing weather forecast
China building on new reef in East Sea, think tank says
China building on new reef in East Sea, think tank saysThe Saigon Times Daily Navy personnel of Chinese People's Liberation Army (PLA) Navy take part in a military display in the East Sea April 12, 2018 – PHOTO: REUTERS BEIJING (REUTERS) - China has installed a new platform on a remote part of the Paracel Islands in the disputed South China Sea, which Vietnam officially calls the East Sea, which could be used for military purposes, according to recent satellite images reviewed by a U.S. think tank. The strategic waterway is claimed almost in its entirety by China, whose continued building of military and other installations on artificial islands and reefs there has unnerved the region and angered Washington. The Asia Maritime Transparency Initiative of Washington's Center for Strategic and International Studies said the images showed a "modest new structure" on Bombay Reef, topped by a radome and solar panels. "The development is interesting given Bombay Reef's … [Read more...] about China building on new reef in East Sea, think tank says
China building on new reef in South China Sea, think tank says
The strategic waterway is claimed almost in its entirety by China, whose continued building of military and other installations on artificial islands and reefs there has unnerved the region and angered Washington, according to recent satellite images reviewed by a U.S. think tank. The Asia Maritime Transparency Initiative of Washington's Center for Strategic and International Studies said the images showed a "modest new structure" on Bombay Reef, topped by a radome and solar panels. "The development is interesting given Bombay Reef's strategic location, and the possibility that the structure's rapid deployment could be repeated in other parts of the South China Sea," the group said in a statement on Tuesday. The purpose of the platform and radome was unclear, but it could be for military use, it said. "The reef is directly adjacent to the major shipping lanes that run between the Paracels and the Spratly Islands to the south, making it an attractive location for a sensor array to … [Read more...] about China building on new reef in South China Sea, think tank says
IMF cuts global growth forecast to 3.7% for 2018, 2019 as risks rise
An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next. IMF Managing Director Christine Lagarde last week said ‘the global economic weather is beginning to change.’ Photo: stephen jaffe/imf/handout/epa-ef/EPA/Shutterstock With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP by two-tenths to 3.7 percent for 2018 and 2019, according to the quarterly World Economic Outlook Report issued Monday. The revised estimates includes a worsening outlook for developing economies this year and next compared to the July report, as well as downgrades for the US and China in 2019. The IMF warns that risks highlighted in previous reports "have become more pronounced or have partially materialized" in the real world. The dominant US economy has been shielded from the ill effects … [Read more...] about IMF cuts global growth forecast to 3.7% for 2018, 2019 as risks rise
China vows to control debt despite fresh stimulus for cooling economy
Asia News China vows to control debt despite fresh stimulus for cooling economy The Saigon Times Daily Thursday, Aug 16, 2018,09:14 (GMT+7) China vows to control debt despite fresh stimulus for cooling economyThe Saigon Times Daily A man walks at Lujiazui financial district of Pudong in Shanghai, China July 17, 2017 – PHOTO: REUTERS BEIJING (REUTERS) - China’s state planner pledged on Wednesday to keep debt levels under control even as Beijing rolls out fresh stimulus to support the stumbling economy as a trade war with the U.S. deepens. The comments by the National Development and Reform Commission (NDRC) came a day after China reported surprisingly weak data that showed investment growth has slowed to a record low. To stabilize business conditions and weather the trade war, Beijing is stepping up infrastructure spending and injecting more funds into the banking system, which is lowering borrowing costs. New … [Read more...] about China vows to control debt despite fresh stimulus for cooling economy