BEIJING - In the wake of a meeting between the Board of Directors of the Boao Forum for Asia, where attendees includedboth Chinese President Xi Jinping and former Japanese Prime Minister Yasuo Fukuda, both Chinese and Japanese media are speculating on the possibility of a one-on-one meeting between Xi and current Japanese Prime Minister Shinzo Abe at next month’s APEC summit.
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BEIJING – China’s Ministry of Finance has been circulating a document that contains a proposal to allow local governments to issue bonds to repay existing debts. These bonds would cover debts stemming from projects governments have paid for as of December 31, and involve both direct debts as well as contingent liabilities.
LONDON - There is an appreciable risk of war between China and Japan over the Senkaku/Diaoyu Islands, into which the US would be drawn, according to a new publication from the International Institute for Strategic Studies (IISS). Conflict is genuinely possible, despite the potential costs to both nations far outweighing the economic value of the disputed territory, it says.
SEOUL – South Korea’s GDP growth picked up to 0.9% q/q in Q3, from 0.5% in Q2, in line with market expectations. Private consumption increased 1.1% q/q, from a 0.3% contraction in the previous quarter. Government consumption growth accelerated to 2.2% in Q3, up from 0.3% in Q2. Gross fixed capital formation rebounded to 1.4%, following a 0.2% contraction, led by construction which grew 2.9%.