Pressures from population growth and an economic boom have increased demand for water in Vietnam, risking depletion of the valuable resource and threatening the country’s gross domestic product (GDP) by up to six percent by 2035 – a year’s worth of GDP growth.About 8.5 million urban citizens in Vietnam lack access to clean water, and in rural areas, about 41 million dwellers do not have clean water supply.
China on Saturday increased tariffs on billions worth of United States (US) goods as it prepares to unveil a blacklist of "unreliable" foreign companies that analysts say aims to punish US and foreign firms cutting off supplies to telecoms giant Huawei.Beijing's move hits US$60 billion worth of US goods with new punitive tariffs ranging from five to 25 percent, and comes in retaliation for Washington raising duty on US$200 billion in Chinese goods to 25 percent.Washington and B
From socks and sneakers to washing machines and watches, Asian countries are hoping the United States (US)-China trade war will permanently boost manufacturing as brands dodge the row by choosing cheaper locations to make their goods.Business has fanned out from China, often referred to as the 'Factory of the World', into Vietnam, Cambodia, India and Indonesia for years.But the shift has accelerated as the world's two biggest economies slap tit-for-tat tariffs on each other.&am
The United States (US) has hit China where it hurts by going after its telecom champion Huawei, but Beijing's control of the global supply of rare earths used in smartphones and electric cars gives it a powerful weapon in their escalating tech war.A seemingly routine visit by President Xi Jinping to a Chinese rare earths company this week is being widely read as an obvious threat that Beijing is standing ready for action."We should firmly grasp the strategic basis of technological i
The United States (US) prepared to hit China with new tariffs even as President Donald Trump said he’ll meet his Chinese counterpart, Xi Jinping, at next month’s Group of 20 (G-20) summit, an encounter that could prove pivotal in a deepening clash over trade.The US Trade Representative’s (USTR) office Monday released a list of about US$300 billion worth of Chinese goods including children’s clothing, toys, mobile phones and laptops that Trump has threatened to hit with a 25 percent tariff.If
Alarm bells are ringing across the globe as the United States (US)-China trade war continues to brew, and while the International Monetary Fund (IMF) has warned that a full-blown trade war would weaken the global economy, it may not be all bad news for ASEAN.China is ASEAN’s single largest trading partner, but the US is an important economic and strategic partner as well and its growth and spending power has been critical to driving worldwide trade. With increasing tariffs, goods pro
Asian shares climbed and United States (US) equity futures fluctuated as investors prepared for news on pivotal US-China trade talks, with tariff hikes set to kick in today. The yuan remains near its weakest since January.The Shanghai Composite opened up more than one percent, clawing back some of this week’s plunge.
President Donald Trump declared China’s leaders “broke the deal” he was negotiating with them on trade, ratcheting up his rhetoric ahead of fresh negotiations that were already clouded by imminent tariff increases and China’s threats of retaliation.“They broke the deal!” Trump said at a campaign rally Wednesday night in Panama City Beach, Florida, leading him to raise tariffs. The president noted that top Chinese trade negotiator Liu He was traveling to Washington for further talks.
Labour rights violations in ASEAN are among the negative effects of an increase in production due to the ongoing United States (US)-China trade war which has resulted in a shift of some production from China to this part of the world. While the region is embarking on the Fourth Industrial Revolution, numerous industries in ASEAN still rely on labour-intensive factories.
The world’s two largest economies are nearing the finish line on a trade deal that could be signed by President Donald Trump and his Chinese counterpart Xi Jinping as early as this month. But that doesn’t mean the trade war ends.More work remains on a deal that will ensure that Beijing will follow through on its commitments, United States (US) Trade Representative Robert Lighthizer told Congress last week.
Indonesia and Australia on Monday signed a long-awaited trade deal after months of diplomatic tension over Canberra's contentious plan to move its embassy to Jerusalem.Indonesian trade minister Enggartiasto Lukita and his Australian counterpart Simon Birmingham wrapped up the multi-billion-dollar agreement in Jakarta, some nine years after negotiations first started.The pact will include improved access for Australian cattle and sheep farmers to Indonesia's 260 million people, while
The manufacturing sector has been one of ASEAN’s key economic growth drivers. Already, the region is a global manufacturing hub and is estimated to grow at a compound annual growth rate (CAGR) of 6.6 percent between 2016 to 2020.One key factor propelling demand in this sector is a 640 million strong regionwide consumer base with a growing middle-income segment. Rising incomes which shift consumption trends have also contributed to growth in this sector.
