STORYTELLER Simon Winchester remembers when 750 million people in the Pacific were governed by ‘outsiders and aliens’ . . .
On Christmas Day in 2015, 17 nations signed an agreement to establish the Beijing-sponsored Asian Infrastructure Investment Bank (AIIB). Within a week, the world’s latest multilateral bank was open for business. It now has 57 members.
The Belt and Road Initiative aims to connect Asia, Europe and Africa along five routes. It will take advantage of international transport routes as well as core cities and key ports to strengthen collaboration and build six international economic co-operation corridors.
HONG KONG — The world has been preoccupied with the slowdown in China, but the bigger issue is the global economy, says Jim Walker, founder of the independent
economic research house, Asianomics.
CHINA was correct in trying to contain the fallout from its market collapse — and is continuing to open up its financial sector, says economist Chi Lo . .
IT is important to reflect on how far China has travelled, where it currently stands and where it plans to go next, says Stuart Gulliver, Group Chief Executive of HSBC, in an address to a China Conference in Sydney. Excerpts:
IN LOOKING backwards, Aust-ralia’s First Ambassador to China, Stephen FItzGerald, appears to sacrifice balance to partisan proselytizing . . .
WHICH way will the military move? There are low-risk and high-risk options facing Burma’s Suu Kyi . . .
ASEAN regional payments integration would drive competitiveness and deliver economic growth and productivity improvements . . .
TODAY’s cyber tools are more sinister, and a family of spyware and spynets has been upgraded to specifically target a financial institution or groups of institutions in a particular geographic area. Microsoft’s Richard Boscovich explains how the industry is fighting back . . .
THE concept of crowdfunding is new, and businesses need to be educated that funding is available from alternative sources, but in the UK, where government regulators are moving to effectively support the industry’s expansion, some expect turnover to reach £5 million this year and up to £8 billion in 2016 . . .
AT SOME point, the RMB will be ‘solidly number four’ as the fourth most commonly used currency in global interbank settlements, overtaking Japan, says SWIFT Chief Executive, Gottfried Leibbrandt . . .
ASEAN needs to have a clearer direction of how to engage with the private sector and to align investment from non-ASEAN countries with development plans at both sub-region and regional level, says a Singapore think-tank report. Some believe it could take 10-15 years for the AEC’s potential to be achieved . . .
THE concept of an ASEAN Troika to facilitate the process of achieving consensus is now embedded in what is known as ASEAN Vision 2025 . . .
ASIA’s demographics — an average age of 28 compared to 36 in the US and 39 in Europe — will drive its growth in coming decades as youthful dynamism transforms the region, says Piyush Gupta, Chief Executive of Southeast Asia’s largest bank, DBS . . .
BANKING is going to be ruled by a gang of four – banks, retailers, telecommunications and tech companies, says Rajashekara Maiya, Associate Vice President and Head of Product Strategy of Infosys Finnacle. But rather than fearing the newcomers, be believes banks should be partnering and creating co-operation with fintech. Banks will retain their core competence in the manufacturing of products and risk management . . .