United States

Shunned by Chinese, Thai tourism braces for slump

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

22 October 2019
0

Hong Kong leader struggles to end crisis

Paralysed by seething protesters and intransigent bosses in Beijing, Hong Kong's government lacks the power and experience to end the unprecedented political crisis in the city, analysts say.The semi-autonomous international hub has been riven by increasingly violent protests for more than four months, with demonstrators demanding greater democracy and police accountability as violence spirals on all sides.Yet so far, all the major steps taken by Beijing-backed city leader Carrie Lam hav

22 October 2019
0

US House passes Hong Kong 'Democracy Act'

The US House of Representatives passed a bill Tuesday sought by pro-democracy protesters in Hong Kong that aims to defend civil rights in the semi-autonomous territory, prompting an angry response from China.The Hong Kong Human Rights and Democracy Act, which will now move to the Senate before it can become law, has drawn rare bipartisan support in a polarised Congress.The law would end the Hong Kong-US special trading status unless the State Department certifies annually that city authoritie

16 October 2019
0

Partial US-China trade deal 

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

13 October 2019
0

WEF: Singapore world’s most competitive economy

Singapore has dethroned the United States (US) as the world’s most competitive economy in yet another international survey.The Singapore government’s long-term vision and the country’s robust infrastructure and diverse workforce were among the factors which saw it edge the US in the World Economic Forum’s (WEF) Global Competitiveness Index released yesterday.The US, which held top spot last year, dropped into second place this year – with Hong Kong moving up four spots in the list of 141 econ

10 October 2019
0

Saving the Japan-South Korea relationship

Japan and South Korea have never been easy partners. Although both have long been well-consolidated democracies, historical and territorial disputes have consistently marred bilateral relations.

6 October 2019
0

ASEAN faces more risks ahead of next downturn

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.

23 September 2019
0

Iran: We are not responsible for Saudi attacks

Iran on Sunday dismissed United States (US) accusations it was behind drone attacks on Saudi oil installations, suggesting Washington was seeking a pretext to retaliate against the Islamic republic."Such fruitless and blind accusations and remarks are incomprehensible and meaningless," foreign ministry spokesman Abbas Mousavi was quoted as saying in a statement.US Secretary of State Mike Pompeo condemned Iran after Saturday's attacks, which knocked out half of Saudi Arabia&#039

16 September 2019
0

The renminbi’s bid for freedom

In early August, the renminbi’s exchange rate broke through the psychological threshold of CN¥7 per United States (US) dollar. While investors were still digesting the full significance of this event, US President Donald Trump’s administration startled the market by labelling China a “currency manipulator.”The designation is absurd, to say the least, because China doesn’t meet the US government’s own criteria for being a currency manipulator.

9 September 2019
0

More than a trade war

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.

1 September 2019
0

US & SEA to hold first ever joint maritime drill

The United States (US) and 10 Southeast Asian states will hold their first-ever joint maritime exercises in September, aimed at preventing "wrongdoing" as Washington and Beijing jostle for influence in the region.Washington has traditionally been the dominant naval power in Southeast Asia and its re-engagement with the area comes as a deteriorating trade war with China threatens to engulf the global economy.US Secretary of State Mike Pompeo attended a regional summit earlier this mo

25 August 2019
0

China to impose new tariffs on US imports

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

24 August 2019
0