GLOBALLY, currencies and interest rates have already moved to factor in the new reality in China, says Charles Dallara, who is acknowledged as one of the most astute and widely experienced ‘insiders’ of the world financial system. In this exclusive interview with ATI Magazine, Dallara says that, globally, currencies and interest rates have already moved to factor in the new reality in China. “Markets may over-react at times,” he observes, adding that, basically, the global economy is resilient . . .
SIXTY PER CENT of the world’s young people live in Asia, where unemployment is already high and rising. In the poorer countries, one in four who should be enrolled in the lowest level of education are not enrolled. And while new jobs are emerging in the digital age, many youngsters do not have the digital skills required . . .
FURTHER market corrections in China would cause a sharp drop in share values in both cities, says Coface economist Charlie Carre . . .
THOSE TRADE WINDS have died, and Asian economies modelled on export-led growth are in a ‘very challenging’ position, says Joakim Reiter, Deputy Secretary-General of UNCTAD. Trading economies are now competing for the same markets, not selling to an expanding pie. Reiter worries about private debt in Asia, and fears for the future of poorer countries that squandered development opportunities during the resources boom – a boom he does not expect to be repeated . . .
SRI LANKA is to appoint a global advertising agency to take its tourism story worldwide as new infrastructure comes on-stream and the Government prepares to unveil a raft of new incentives for both local and foreign investors.
But new casinos are not on the list . . .
THE NUMBER of trade disputes is growing, and as more countries knock at the door of the World Trade Organisation’s Dispute Settlement Body (DSB),
WTO Director-General Roberto Azevedo has promised to allocate more resources to work with the DSB’s legal team . . .
THE ‘missing element’ in all discussions about regional trade agreements is the opinion or view of the private sector, says a trade specialist at the WTO. As a result, often there is no value to an SME in the deal . . .
THE IMF is urging countries to reform their energy policies. It says those with the top subsidies, in terms both of per cent of GDP and per capita, stand to gain the most . . .
UNDER a ‘new normal’ scenario, Chinese companies are expected to invest more than US$9 billion in Australia over the next decade . . .
TRANSLATION of global trade agreements into business opportunities is the mantra of the Geneva-based International Trade Centre, jointly funded by the WTO and the UN.
THAILAND is offering a raft of tax and other incentives for companies setting up Interna- tional Headquarters to service their subsidiaries in the region and beyond . . .
IF current trends continue, says Uriel Lynn, new rights for unions and workers are going to suffocate business. He has drawn up guidelines which member Chambers of the ICC will take to governments across the world, seeking to defend employer rights . . .
THE US has made a mistake in choosing not to participate in China’s initiative to establish an Asian Infrastructure Investment Bank, says US business leader and G20 government advisor Terry McGraw. He sees a funding vacuum for infrastructure in emerging economies. . .
PARIS - On-going change to the current Chinese economic model reveals two major developments: deteriorating price competitiveness in relation to other countries in Asia, and a transition to growth sustained by consumption rather than by investment, says a new report by credit insurer Coface.
JULY 1 saw the Australian Business Chamber’s showcase in ShanghaiMart open with 200 products on display, and the first firm orders are starting to come in. The Chamber’s Export Growth China strategy revolves around showcasing Australian products at the new Shanghai facility coupled with targetted displays at regional trade fairs through China . . .