Despite rising trade tensions and geopolitical risks, half of ASEAN’s member states are among the top drivers of global growth.The International Monetary Fund’s (IMF) World Economic Outlook released last week painted a bleak future for the global economy which is in a “synchronised slowdown” and is anticipated to grow 3.0 percent this year – the weakest since the 2008 global financial crisis. It is also a 0.3 percentage point downgrade from the IMF’s World Economic Outlook in April a

Hotels on Thailand's most popular holiday island have been forced to slash prices with rooms left vacant and beaches sparse as tourist chiefs struggle with a plunge in Chinese visitors caused by the US trade war and a stronger baht.Located on the Andaman Sea and known for its beaches and nightlife, sun-drenched Phuket was the most visited destination in the country last year after Bangkok and a good gauge of the state of its crucial travel industry.Tourism accounts for 18 percent of Thai

A partial United States (US)-China deal may only offer a temporary tariff reprieve because it lacks specifics and leaves the thorny issues for later, analysts said, allowing both economic powers to claim success.Friday's initial agreement – which included increasing US farm product purchases, and also covers intellectual property, financial services and currencies – finally breaks an 18-month trade spat.Engulfed in an impeachment inquiry, US President Donald Trump heralded the deal as a

As they prepared to return to the negotiating table on Thursday, top Chinese trade officials faced a blitz of aggressive US manoeuvres, with expectations for a grand bargain between both sides approaching zero.President Donald Trump – who has taken the global economy on a white-knuckle ride since launching multi-pronged trade offensives with China and Europe last year – said Wednesday the outcome was down to him."They want to make a deal," he said at the White House.

Several structural shifts have left ASEAN more exposed to an economic downturn than during the last global financial crisis a decade ago.While ASEAN did not technically slide into recession during the last global financial crisis, structural traits that cushioned the region a decade ago – such as China’s strong growth and the global demand for commodities – now offer less of a buffer noted a report by global consultancy firm Bain & Co.

The escalating trade war between the United States (US) and China has sometimes been characterised as what game theorists would call a prisoner’s dilemma. A prisoner might benefit by informing on another, but only if the second prisoner does not also betray the first. If both inform, both lose; the best outcome occurs when both remain silent.

Contrary to what some observers may believe, Malaysia’s economy is actually doing better than expected – although that doesn’t mean fears of a recession are unwarranted.Earlier this month, Malaysia’s central bank, Bank Negara Malaysia (BNM) announced that the country’s economy grew by 4.9 percent in the second quarter of 2019, recording stronger growth than in the first quarter (4.5 percent) and beating most economists’ predictions.

President Donald Trump doubled down Sunday on his hard line against China after sowing confusion with statements that he might be willing to soften a trade war G7 partners fear threatens the world economy.At the G7 summit in Biarritz, France, Trump announced a major trade deal with Japan and promised more of the same with Britain, once Brexit is done.But the positives were overshadowed by a mix-up over his apparent expression of regret for the latest escalation in the US-China dispute."I

China announced Friday it will hit United States (US) soybeans, lobsters, peanut butter and other imports worth US$75 billion with new tariffs in retaliation for Washington's planned duty hikes, further intensifying the bruising trade war between the world's top two economies.The punitive tariffs of five to 10 percent will apply to 5,078 items from the US, starting 1 September and 15 December, China's state council tariff office said.Beijing also announced it will reimpose a 25

The world spends so much on wars and violence but spends next to nothing on peace. The obvious result of conflicts and wars is human suffering, but there is also a cost to the economy that can further cripple the world’s infrastructure and stability.