Taiwan’s middle-income trap
Editor’s note: Taiwan’s economy, built on an export-oriented manufacturing sector, was once a powerhouse of Asia’s emerging economies. But over the past decade or so, growth in personal income has slowed considerably and the Taiwanese economic miracle has begun to fade. The key to reviving the economy lies in promoting Taiwan’s long neglected services sector, […]
China’s growth forecast higher at 8.2%
Robust recovery of China and India boosts growth in ASEAN countries Economic Growth in emerging Asia is expected to show robust expansion this year, thanks to a recovery in big economies including China and India, but capital inflows will continue to pressure currencies, says the Asian Development Bank (ADB). ADB’s 2013 Asian Development Outlook released […]
Boao Forum claims to be ‘Asia’s Davos’
Chinese President Xi talks of peace, openness and common development Asia has become a major growth engine for the world economy but needs to transform its development model, Chinese President Xi Jinping said. Xi also expressed China’s wish to work with regional leaders to build a better future for Asia and the world. Xi delivered […]
The aquatic bank branch “Bank on the Boat” sets to sail in Bangkok
The “Bank on the Boat” sails on the Mae Nam Chao Phraya River, in Bangkok, Thailand, April 4, 2013. Thailand Government Savings Bank opened its first aquatic branch in 1958 for the convienience of the inhabitants living onshore. Now the “Bank on the Boat” still works for those residents alongside the bank of Mae Nam […]
Cambodia Airlines signs a joint venture with Filipino San Miguel Corporation
Kith Meng (Front R), president of Cambodia Airlines, and Ramon S. Ang (Fromt L), president of San Miguel Corporation and Philippine Airlines, sign a joint venture agreement in Phnom Penh, Cambodia, April 2, 2013. Cambodia Airlines, a majority-owned Cambodian company, and San Miguel Corporation, the Philippines’most diversified conglomerate, on Tuesday signed a joint venture agreement […]
Iranian boycott of pistachio praised as a way to leave more nuts for exporting
In this Sunday, March 31, 2013 photo, an Iranian shopkeeper sells pistachios, at his shop in western Tehran, Iran. Pistachios are Iran’s top non-oil export and provide work for hundreds of thousands of people. Still, Iranian authorities are backing the boycott. They laud it as a way to decrease domestic pistachio consumption and leave more […]
China expands influence in Africa on the back of Xi Jinping’s trip
China is set to enhance its fast expanding political influence in Africa by taking a pro-active role in mediating disputes in the resource-rich continent as new Chinese PresidentXi Jinping returned home from a high-profile African tour. While Xi has committed billions of dollars in assistance on his tour to Tanzania, South Africa and Congo, he […]
A growing number of Africans live in Chinese cities with booming economic ties between the two sides
African residents buy fruits at a grocery in Xiaobeilu, a commercial area in Guangzhou, capital of south China’s Guangdong Province, March 21, 2013. With the Chinese economy expanding fast over the past decades, African immigrants, previously unseen in China, have streamed into prosperous cities of Guangzhou, Beijing, Shanghai and even to some second-tier cities. According […]
S. Korea ranked top investor in Cambodia
South Korea stood out as the largest foreign investor in Cambodia in 2013. Korea replaced the UK as the number one investor with $287 million injected, 12.5 per cent of the total foreign direct investment, The Phnom Penh Post reported by quoting data from the Council for the Development of Cambodia (CDC). According to the […]
Myanmar abolishes surrogate foreign currency
Myanmar has announced the abolition of its US dollar proxy currency for foreigners. The Central Bank of Myanmar announced an initial period of 90 days for exchanging abolished Foreign Exchange Certificate (FEC) with foreign currencies or local currency Kyat starting on April 1. FEC, which has been put into circulation in place of U.S. dollar […]
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