https://www-scmp-com.libproxy1.nus.edu.sg/rss/111599/feed The World Bank and the International Monetary Fund (IMF) were both created at the 1944 Bretton Woods Conference. The World Bank’s mandate is to lend to developing countries to fund capital programs to alleviate poverty. The IMF, an organisation of almost 200 countries, helps alleviate problems among member countries. Since the onset of the global financial crisis in 2008, the IMF has taken part in rescues of countries such as Greece. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Nayan Seth,Teresa Elena Frontado Nayan Seth,Teresa Elena Frontado US Treasury Secretary Scott Bessent announced on Wednesday that Washington and Beijing have agreed to extend the trade agreement reached in South Korea for just two months, as Chinese President Xi Jinping arrives in Washington for a state visit. “We have agreed ⁠today that we will extend what ⁠we call the Busan Agreement,” Bessent said in an interview with Fox News, adding ‌the agreement ‌will be extended for two months until January 10. Bessent made the remarks hours after an unscheduled... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3368555/bessent-and-he-meet-again-tackle-some-unfinished-business-xi-summit-nears?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3368555/bessent-and-he-meet-again-tackle-some-unfinished-business-xi-summit-nears?utm_source=rss_feed Wed, 23 Sep 2026 15:52:53 +0000 Alice Li Alice Li Beijing should expand central government borrowing and accelerate local debt restructuring, as China’s relatively low price levels offer a rare window for stronger fiscal support to bolster demand, according to some prominent Chinese economists. “With oil shocks pushing up prices, and inflationary pressures spreading globally, China currently has the lowest price levels, while prices elsewhere are significantly higher,” said Yu Yongding, a former member of the People’s Bank of China’s Monetary... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368259/china-economists-urge-beijing-act-fast-local-level-debt-low-prices-vanish?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368259/china-economists-urge-beijing-act-fast-local-level-debt-low-prices-vanish?utm_source=rss_feed Mon, 21 Sep 2026 11:00:10 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words. In Hong Kong, a child’s education can be planned before the child can talk. The 2026 Yidan Prize laureates give that instinct an evidence base: factors shaping how well children learn are in motion long before their first day of class. Professor Paul W. Glewwe, the laureate for... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3367999/what-hong-kong-educators-can-learn-yidan-prize-winners?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3367999/what-hong-kong-educators-can-learn-yidan-prize-winners?utm_source=rss_feed Mon, 21 Sep 2026 03:30:06 +0000 Khushboo Razdan,Cao Jiaxuan Khushboo Razdan,Cao Jiaxuan The family photograph did the political work the summit’s final declaration could not. Chinese President Xi Jinping, Russian leader Vladimir Putin, Iranian President Masoud Pezeshkian and Indian Prime Minister Narendra Modi stood shoulder to shoulder as the Brics summit closed in New Delhi on Sunday – a single frame capturing an 11-nation bloc that now spans four continents and nearly half the world’s population. UN Secretary General Antonio Guterres attended the gathering of emerging economies... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3367477/brics-leaders-act-hedge-not-revolt-against-us-dollar-dominance?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3367477/brics-leaders-act-hedge-not-revolt-against-us-dollar-dominance?utm_source=rss_feed Mon, 14 Sep 2026 15:00:08 +0000 Mandy Zuo Mandy Zuo Shanghai, grappling with one of China’s highest rates of ageing and lowest rates of fertility, has made maternal care completely free in its latest move to encourage childbirth. The city government rolled out a pioneering policy on Tuesday that waives all out‑of‑pocket expenses for maternal care, from pregnancy screenings through childbirth to postnatal follow‑ups. The policy builds on – and goes beyond – a central government commitment to make basic services for hospital delivery free to all... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366914/bid-boost-births-shanghai-waives-out-pocket-expenses-maternal-care?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366914/bid-boost-births-shanghai-waives-out-pocket-expenses-maternal-care?utm_source=rss_feed Wed, 09 Sep 2026 09:04:21 +0000 Mia Nurmamat Mia Nurmamat President Xi Jinping’s journey from Central Asia to Egypt highlights Beijing’s efforts to strengthen alternative trade, energy and manufacturing networks across Eurasia and Africa, analysts said, as wars and tariffs expose a reliance on vulnerable supply routes and overseas markets. Xi arrived in Egypt on Tuesday for his first visit in 10 years after attending a summit of the Shanghai Cooperation Organisation (SCO) in Bishkek, Kyrgyzstan, where state leaders including Indian Prime Minister... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366123/chinas-xi-seeks-trade-routes-egypt-central-asia-bypass-tariffs-and-western-rules?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366123/chinas-xi-seeks-trade-routes-egypt-central-asia-bypass-tariffs-and-western-rules?utm_source=rss_feed Thu, 03 Sep 2026 03:00:11 +0000 Reuters Reuters India must uphold a water-sharing treaty with ⁠Pakistan it suspended amid bilateral tensions and must limit work on a hydroelectric plant it is building in the Kashmir region, the Permanent Court of Arbitration in The Hague said on Monday. India in April last year suspended the treaty ‌that ensures water supply to 80 per cent of Pakistani farms, after India identified as Pakistani two of three assailants in an attack that killed 26 people at a tourist destination in Kashmir that month. Islamabad... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/south-asia/article/3365887/india-rejects-ruling-water-sharing-treaty-pakistan-international-court?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/south-asia/article/3365887/india-rejects-ruling-water-sharing-treaty-pakistan-international-court?utm_source=rss_feed Mon, 31 Aug 2026 14:50:44 +0000 Sam Beltran Sam Beltran The Philippines has cut its official poverty rate to below 10 per cent for the first time, a milestone officials hailed as proof that millions of Filipinos are climbing the economic ladder. Yet for families like Vhan Castro’s, there is a big difference between being officially counted as middle class and actually feeling financially secure. The 34-year-old earns an average of 40,000 pesos (US$650) a month for his family of four through a patchwork of side hustles – from renting out a van for... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/people/article/3365177/philippine-poverty-falls-record-low-many-still-feel-insecure?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/people/article/3365177/philippine-poverty-falls-record-low-many-still-feel-insecure?utm_source=rss_feed Tue, 25 Aug 2026 09:00:07 +0000 Anthony Rowley Anthony Rowley To describe the uncontrolled adoption of artificial intelligence (AI) as a “mixed blessing” is a grotesque understatement. It is better termed a miscalculated risk that reflects the world’s present sad and potentially tragic lack of responsible leadership, in Western nations especially. On the one hand, we are assured AI will raise productivity and economic growth. It will be a particular blessing for developing countries, such as those in Asia, enabling them to leapfrog the centuries it took... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3363725/global-leaders-must-wake-threat-unbridled-ai-adoption?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3363725/global-leaders-must-wake-threat-unbridled-ai-adoption?utm_source=rss_feed Sat, 15 Aug 2026 08:30:07 +0000 Chao Kong Chao Kong A study analysing data from hundreds of countries and regions suggests China’s Belt and Road Initiative is linked to better governance and economic development, according to researchers from Nanjing University. They found the trade and investment scheme – which spans Africa, Asia, Europe and beyond – was also associated with improved corruption control and that it reduced debt risks. The team – from the university’s Centre for Asia-Pacific Development Studies and led by Mao Weizhun – said their... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/science/article/3363782/nearly-200-country-study-shows-chinas-belt-and-road-initiative-cuts-debt-and-corruption?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/science/article/3363782/nearly-200-country-study-shows-chinas-belt-and-road-initiative-cuts-debt-and-corruption?utm_source=rss_feed Thu, 13 Aug 2026 02:00:10 +0000 Josephine Ma,Khushboo Razdan Josephine Ma,Khushboo Razdan “Regardless of what lies ahead – be it a minefield or a deep abyss – I will forge ahead unswervingly, dedicating my entire life and energy to the country until my dying day.” Those words, spoken at the dawn of his premiership, came to define Zhu Rongji, China’s towering economic reformer who died in Beijing on Wednesday. He was 97. His remarks at a press conference in 1998 came as China was undertaking sweeping state-owned enterprise (SOE) reforms that caused widespread job losses, even as it... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3363824/zhu-rongji-reformer-who-led-chinas-economic-transformation-through-minefield-or-abyss?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3363824/zhu-rongji-reformer-who-led-chinas-economic-transformation-through-minefield-or-abyss?utm_source=rss_feed Wed, 12 Aug 2026 16:11:47 +0000 dpa dpa The UK’s new foreign secretary, Ed Miliband, was confronted with his past criticism of “racist” Donald Trump as he held talks in Washington with his US counterpart Marco Rubio. Miliband ignored questions about whether he still thought the president was an “idiot, a racist and a misogynist” as he met with the US top diplomat. Miliband was invited to the US capital by Rubio after their recent first meeting on the sidelines of a foreign ministers’ summit in the Philippines last month. The pair were... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3363128/new-uk-foreign-minister-dodges-questions-his-past-trump-remarks?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3363128/new-uk-foreign-minister-dodges-questions-his-past-trump-remarks?utm_source=rss_feed Thu, 06 Aug 2026 04:55:46 +0000 Agence France-Presse Agence France-Presse The World Bank on Tuesday called on developing countries to embrace artificial intelligence technology tools to deliver better governance outcomes, warning that they risked being left behind if they failed to do so. “AI has thrown developing economies a lifeline, and they should seize it,” Indermit Gill, chief economist of the World Bank Group, said as the organisation launched its annual World Development Report. “They do not need large models or big data centres to reap its benefits,” he... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3362972/world-bank-urges-developing-countries-embrace-ai-lifeline-or-be-left-behind?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3362972/world-bank-urges-developing-countries-embrace-ai-lifeline-or-be-left-behind?utm_source=rss_feed Tue, 04 Aug 2026 15:29:47 +0000 Adriel Kasonta Adriel Kasonta India’s latest youth protests began after examination papers were leaked. They could ultimately be seen as a referendum on the country’s development model. The immediate trigger was the controversy around the National Eligibility-cum-Entrance Test (NEET), India’s highly competitive medical entrance exam. Evidence surfaced that examination papers had been leaked and sold. This scandal affected millions of candidates, leading to retests and the resignation of Education Minister Dharmendra Pradhan... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3361982/indias-cockroach-protests-reveal-deeper-social-mobility-crisis?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3361982/indias-cockroach-protests-reveal-deeper-social-mobility-crisis?utm_source=rss_feed Tue, 28 Jul 2026 12:30:16 +0000 Raissa Robles Raissa Robles Philippine President Ferdinand Marcos Jnr heads into Monday’s State of the Nation Address facing a legacy-defining question: can he balance his anti-corruption drive with sustaining economic growth and the needs of ordinary Filipinos? The address, known locally as the Sona, opens the final two years of Marcos’ presidency. Analysts say his administration must show tangible results from its investigation into the alleged billions of pesos in discrepancies relating to flood-control projects while... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/politics/article/3361825/marcos-faces-nation-sona-corruption-crackdown-hits-philippine-growth?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/politics/article/3361825/marcos-faces-nation-sona-corruption-crackdown-hits-philippine-growth?utm_source=rss_feed Mon, 27 Jul 2026 02:30:05 +0000 Daisy Wu Daisy Wu A coordinated push towards global market diversification is urgently needed to shield savers from a potentially dangerous valuation correction in highly concentrated US equities, a former World Bank official has warned. Speaking at an event in Hong Kong on Thursday, Ian Goldin, the former World Bank vice-president, now a professor of globalisation and development at Oxford University, said the growing concentration of capital in a handful of highly valued US technology companies had left... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3360789/ex-world-bank-official-warns-need-diversify-away-us-markets-people-will-suffer?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3360789/ex-world-bank-official-warns-need-diversify-away-us-markets-people-will-suffer?utm_source=rss_feed Thu, 16 Jul 2026 08:01:15 +0000 Sam Beltran Sam Beltran The World Bank has upgraded the Philippines to an upper-middle-income country, but the classification means little to many Filipinos grappling with rising cost of living, mounting debt and stagnant wages. Manila resident Ann Michelle Federez-Abato, 35, said her entire salary went towards her parents’ mortgage, while she and her two-year-old daughter subsisted on a monthly remittance of 20,000 pesos (US$325) sent home by her husband, who works as a production officer at a factory abroad. Much of... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3359922/philippines-got-economic-upgrade-yet-many-filipinos-feel-its-no-big-deal?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3359922/philippines-got-economic-upgrade-yet-many-filipinos-feel-its-no-big-deal?utm_source=rss_feed Thu, 09 Jul 2026 03:04:27 +0000 Albert Bakhtizin Albert Bakhtizin In the animated Soviet film The Golden Antelope, inspired by Indian folklore, a magical antelope tries to save a boy from a greedy raja by promising him as much gold as he wants. When she asks whether there can be too much, the raja laughs: “You can never give me too much gold.” But when the gold begins to bury him, he cries “enough” – and loses everything. Today’s financial system risks repeating the raja’s mistake. For too long, rising nominal wealth, asset prices and the fortunes of the ultra... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3359600/healthy-economy-isnt-built-asset-bubbles-and-debt-pyramids?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3359600/healthy-economy-isnt-built-asset-bubbles-and-debt-pyramids?utm_source=rss_feed Wed, 08 Jul 2026 12:30:06 +0000 Chao Kong Chao Kong Attacks on Chinese citizens and businesses in sub-Saharan Africa tend to increase in the years following a rise in Chinese investment, according to a new study by researchers at the School of Overseas Security and Protection at the Chinese People’s Police University. However, the authors stressed that the findings should not be interpreted as evidence that Chinese investment itself caused violence. They argued that Chinese investment was often concentrated in resource-rich but politically... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/science/article/3359314/chinese-police-uncover-link-between-investment-and-attacks-citizens-africa?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/science/article/3359314/chinese-police-uncover-link-between-investment-and-attacks-citizens-africa?utm_source=rss_feed Fri, 03 Jul 2026 09:05:39 +0000 Reuters Reuters Venezuela’s Interim President Delcy Rodriguez on Thursday rejected allegations that her government reacted ⁠too slowly to destruction caused by two earthquakes which killed more than 2,000 people, after days of widespread criticism of the official response. Civilians of all stripes - including survivors, family members, volunteer paramedics and foreign rescue teams - have descended on disaster areas, especially the hardest-hit northern state of La Guaira, since the 7.2 and 7.5-magnitude quakes... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3359282/venezuelas-leader-defends-quake-response-thousands-remain-missing?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3359282/venezuelas-leader-defends-quake-response-thousands-remain-missing?utm_source=rss_feed Fri, 03 Jul 2026 06:46:54 +0000 Sylvia Ma Sylvia Ma Beijing has downplayed reports that the World Bank will phase out lending to China by 2031, with the Ministry of Finance noting that the nation’s advancing economy and changing development needs were shifting cooperation away from financing and towards knowledge sharing. “This is the natural result of changing domestic needs and the transformation of bilateral cooperation,” the ministry said in a statement on Wednesday, referring to the World Bank’s declining lending to China in recent... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3359139/why-world-bank-winding-down-loans-china-amid-natural-shift?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3359139/why-world-bank-winding-down-loans-china-amid-natural-shift?utm_source=rss_feed Thu, 02 Jul 2026 08:00:21 +0000 Agence France-Presse Agence France-Presse One year after lifting its long-standing two-child limit, Vietnam is offering incentives for people to have more babies as the communist country risks getting old before it gets rich. A new population law and regulations coming into effect on Wednesday extend maternity leave from six to seven months for mothers having a second child as well as offering financial help. If Hanoi residents Nguyen Kim Bich and her husband have a second child, she will get an extra month of maternity leave, free... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3359004/vietnam-offers-cash-babies-potential-parents-are-not-biting?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3359004/vietnam-offers-cash-babies-potential-parents-are-not-biting?utm_source=rss_feed Wed, 01 Jul 2026 06:04:01 +0000 Associated Press Associated Press Islamabad has warned that any attempt by India to deprive Pakistan of its share of water under the Indus Waters Treaty would amount to the “weaponisation of water” and could have serious consequences for regional peace and security. Foreign Minister Ishaq Dar and other government officials made the remarks at an international seminar on the 1960 World Bank – brokered treaty, which governs the sharing of water from the Indus River system between the nuclear-armed neighbours. The treaty has come... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/south-asia/article/3358964/pakistan-accuses-india-water-weaponisation-over-indus-treaty-suspension?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/south-asia/article/3358964/pakistan-accuses-india-water-weaponisation-over-indus-treaty-suspension?utm_source=rss_feed Wed, 01 Jul 2026 00:43:50 +0000 Agence France-Presse Agence France-Presse Ethiopian Prime Minister Abiy Ahmed’s Prosperity Party (PP) won a landslide victory in legislative polls held June 1, the election commission said on Sunday, giving it almost 90 per cent of the seats. Abiy has led Ethiopia since 2018, and is increasingly criticised for growing authoritarianism, in contrast to his early years when he won the Nobel Peace Prize for mending relations with neighbouring Eritrea. The PP was considered the overwhelming favourite in the country of 130 million, facing a... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/africa/article/3357841/ethiopian-pms-party-secures-landslide-win-national-election?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/africa/article/3357841/ethiopian-pms-party-secures-landslide-win-national-election?utm_source=rss_feed Sun, 21 Jun 2026 16:56:06 +0000 Andrew Sheng Andrew Sheng We’ve never had it so good. The S&P 500 and Nikkei 225 have hit record highs this month. SpaceX had its spectacular initial public offering, the largest in history. The company raised an eye-popping US$75 billion and saw a sharp rise in its share price to a mind-blowing valuation of US$2.5 trillion in two days. The US-Iran deal on reopening the Strait of Hormuz caused petrol prices to drop back to below US$4 per gallon. Global stock markets are creating seemingly unstoppable wealth for... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3357574/ai-has-been-known-hallucinate-so-have-financial-markets?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3357574/ai-has-been-known-hallucinate-so-have-financial-markets?utm_source=rss_feed Fri, 19 Jun 2026 12:30:05 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia’s rupiah rallied from a historic low this week, its stock market surged and a closely watched sovereign wealth fund bond offering was oversubscribed, offering Southeast Asia’s largest economy a reprieve after months of asset pressure. But economists have warned that the relief may come at a cost as the same forces helping stabilise the rupiah, including higher interest rates and easing external pressure, could deepen financial strain on the country’s shrinking middle class and weigh on... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3357432/indonesias-rupiah-rebounds-rate-rises-threaten-middle-class?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3357432/indonesias-rupiah-rebounds-rate-rises-threaten-middle-class?utm_source=rss_feed Wed, 17 Jun 2026 10:00:14 +0000 Ji Siqi Ji Siqi Zou Jiayi is president and chairwoman of the board of directors of the Asian Infrastructure Investment Bank (AIIB), a multilateral development lender headquartered in Beijing and inaugurated in 2016. Before leading AIIB, Zou was deputy secretary general of the national committee of the Chinese People’s Political Consultative Conference, China’s top political advisory body. She previously held senior roles at the Ministry of Finance, including as vice-minister, and as part of her three decades of... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3356916/aiib-head-zou-jiayi-why-multilateralism-infrastructure-global-trust?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3356916/aiib-head-zou-jiayi-why-multilateralism-infrastructure-global-trust?utm_source=rss_feed Sun, 14 Jun 2026 22:00:12 +0000 Alex Lo Alex Lo Now we know what the Americans mean by “self-defence”. Actually we have always known that. Except with the war on Iran, they don’t bother with making plausible propaganda any more and just dare you to challenge their ridiculous claims. In this, they have learned well from their Israeli partner-in-crime, according to whom every person killed, however young, is by definition a terrorist. Every facility bombed, even if it’s a hospital or school, is either a terrorist cell or has one hiding in or... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/article/3357077/war-crimes-are-self-defence-us-and-israel?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/article/3357077/war-crimes-are-self-defence-us-and-israel?utm_source=rss_feed Sun, 14 Jun 2026 14:59:29 +0000 Carol Yang Carol Yang China’s ports continued to dominate global efficiency rankings in 2025, with seven Chinese trade hubs placing in the top 10, according to a study by the World Bank and S&P Global released on Wednesday. The latest edition of the annual report comes at a time when ports are playing a more vital role in the global economy than ever, as facilities strive to handle intense disruptions to global supply chains amid the aftermath of the Red Sea crisis and the ongoing fallout from the US-Israel war on... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3356750/chinas-ports-are-far-most-efficient-world-world-bank-study?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3356750/chinas-ports-are-far-most-efficient-world-world-bank-study?utm_source=rss_feed Fri, 12 Jun 2026 00:00:16 +0000 Ji Siqi Ji Siqi Zou Jiayi is president and chairwoman of the board of directors of the Asian Infrastructure Investment Bank (AIIB), a multilateral development lender headquartered in Beijing and inaugurated in 2016. Before leading AIIB, Zou was deputy secretary general of the national committee of the Chinese People’s Political Consultative Conference, China’s top political advisory body. She previously held senior roles at the Ministry of Finance, including as vice-minister, and as part of her three decades of... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/policy/article/3356731/asia-development-bank-chief-financing-green-transition?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/policy/article/3356731/asia-development-bank-chief-financing-green-transition?utm_source=rss_feed Thu, 11 Jun 2026 07:32:32 +0000 Anthony Rowley Anthony Rowley What is in effect Japan’s version of the Belt and Road Initiative is being rolled out at an accelerating pace. But unlike China’s global infrastructure initiative, which mainly takes the form of highways, railways and sea lanes, Japan’s project is all about energy networks and supply chains. It poses a further challenge to America’s waning economic and strategic influence in Asia, the world’s most populous, resource-rich and potentially powerful region. What is more, it is a cooperative venture... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3355995/problem-japans-bid-strengthen-energy-security-supply-chains?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3355995/problem-japans-bid-strengthen-energy-security-supply-chains?utm_source=rss_feed Sat, 06 Jun 2026 08:30:05 +0000 Sylvia Ma Sylvia Ma Kevin Warsh’s confirmation as the next chair of the United States Federal Reserve has fuelled debate over whether potential policy compromises with the administration of US President Donald Trump could undermine American financial credibility and inadvertently strengthen Chinese assets. The Senate confirmed Warsh as the 17th chair of the Fed on Wednesday in a 54-45 vote, mostly along bipartisan lines. He succeeds Jerome Powell, whose term expires on Friday, following a sustained pressure... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3353558/china-set-benefit-new-us-fed-chair-kevin-warshs-policy-vision?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3353558/china-set-benefit-new-us-fed-chair-kevin-warshs-policy-vision?utm_source=rss_feed Thu, 14 May 2026 15:00:05 +0000 Andrew Sheng Andrew Sheng The old order is dead. We just don’t know what will replace it. As Henry Kissinger reminded us in his 2014 book World Order, “no truly global order has ever existed”. After US President Donald Trump’s erratic actions, the gloves are off. American comedians and Iranian Lego cartoons tell us all we need to know about the demise of the old order. If the unipolar order is not viable, and America is abandoning the multilateral order and the rules of the game it created after World War II, what are... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3352758/thanks-trump-gloves-are-there-may-be-no-new-global-order?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3352758/thanks-trump-gloves-are-there-may-be-no-new-global-order?utm_source=rss_feed Fri, 08 May 2026 21:30:05 +0000 Kandy Wong Kandy Wong Chinese multinational company Landbridge Group’s legal claim regarding Darwin Port – the first case ever brought against Australia at the international tribunal – is likely to yield a multi-year proceeding, which could serve as a buffer to provide some positive impacts for the Australia-China relationship, analysts said. The owner of Landbridge, Ye Cheng, filed a case with the World Bank’s International Centre for Settlement of Investor Disputes (ICSID) requesting “arbitration proceedings” over... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3352339/chinas-fight-keep-darwin-port-could-help-fragile-sino-australian-relations-analysts?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3352339/chinas-fight-keep-darwin-port-could-help-fragile-sino-australian-relations-analysts?utm_source=rss_feed Tue, 05 May 2026 01:00:14 +0000 Jevans Nyabiage Jevans Nyabiage For Washington, the Lobito Corridor rail project is meant to circumvent Chinese influence in Africa’s mineral supply chains. Once up and running, the corridor will stretch 1,600km (1,000 miles) westward through mineral-rich Zambia and the Democratic Republic of Congo to create a logistics corridor to the Atlantic port of Lobito in neighbouring Angola. The United States sees it as a direct rival to the China-backed 1,860km Tanzania-Zambia Railway Authority (Tazara), which stretches eastward from... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3352324/why-african-leaders-value-seamless-transcontinental-links-over-us-china-rivalry?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3352324/why-african-leaders-value-seamless-transcontinental-links-over-us-china-rivalry?utm_source=rss_feed Mon, 04 May 2026 06:00:11 +0000 Sylvia Ma Sylvia Ma The West’s narrative of Chinese “overcapacity” is a double standard, said a former chief economist of the World Bank as he urged advanced economies to draw on “Eastern wisdom” rather than protectionism to navigate the rise of hi-tech competition. Justin Lin Yifu, a prominent advocate of Beijing’s industrial policy, dismissed claims that China’s auto-export surge was a sign of industrial imbalance. Speaking at Hong Kong Chu Hai College, Lin drew a contrast with Germany to expose a logical... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3350885/economist-justin-lin-urges-west-adopt-eastern-wisdom-china-moves-value-chain?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3350885/economist-justin-lin-urges-west-adopt-eastern-wisdom-china-moves-value-chain?utm_source=rss_feed Tue, 21 Apr 2026 13:00:12 +0000 Reuters Reuters The International Monetary Fund and ⁠the World Bank said on ⁠Thursday they had resumed dealings with Venezuela, which had been paused since 2019. The move paves the way for a full IMF assessment of Venezuela’s economy for the first time in some 20 years and could eventually unlock billions of dollars in ‌funding via frozen special drawing rights. IMF Managing Director Kristalina Georgieva said in a statement that the Fund, guided by the views of a majority of its members, was now dealing with... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3350384/imf-says-it-restoring-relations-venezuela?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3350384/imf-says-it-restoring-relations-venezuela?utm_source=rss_feed Thu, 16 Apr 2026 23:50:14 +0000 Anthony Rowley Anthony Rowley Can the collective wisdom or clout of the almost 200 countries that make up the membership of the World Bank and International Monetary Fund (IMF) prevail against the United States and Israel, whose rash actions of declaring war on Iran have effectively declared economic war on the whole world? We may get the answers to this critical question when the two so-called Bretton Woods institutions begin their annual meetings in Washington on April 13. The week-long gatherings provide an opportunity... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3349524/can-world-bank-and-imf-leaders-rescue-global-economy-brink?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3349524/can-world-bank-and-imf-leaders-rescue-global-economy-brink?utm_source=rss_feed Sat, 11 Apr 2026 08:30:08 +0000 Associated Press Associated Press The gap between rich and poor nations is growing even wider as actions agreed to by many countries last year, including overhauling the major global financial institutions, remain unfulfilled promises, a UN report has concluded. The report assessing the blueprint adopted in Seville, Spain, last June to narrow the gap and achieve UN development goals for 2030 was issued ahead of next week’s spring meetings in Washington of the International Monetary Fund and the World Bank, the main global... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3349731/global-wealth-gap-grows-aid-worlds-poorest-sees-record-drop?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3349731/global-wealth-gap-grows-aid-worlds-poorest-sees-record-drop?utm_source=rss_feed Sat, 11 Apr 2026 05:34:12 +0000 Aidan Jones Aidan Jones Myanmar’s weak economy is being brutally exposed to the fuel crisis, with farmers unable to fill up tractors to work their fields and a fertiliser shortage caused by the throttling of the Strait of Hormuz threatening food security just as the planting season begins. Battered by civil war and runaway inflation, and with a quarter of its population already lacking sufficient food, Myanmar is poorly positioned to absorb the oil shock and its cascading effects on an economy that is among the most... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3349380/myanmars-food-security-crisis-fuel-fertiliser-shortages-threaten-fragile-economy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3349380/myanmars-food-security-crisis-fuel-fertiliser-shortages-threaten-fragile-economy?utm_source=rss_feed Wed, 08 Apr 2026 09:06:26 +0000 Sylvia Ma Sylvia Ma A leading Chinese state media outlet has run back-to-back front-page editorials over the past two days pushing back against claims that China’s economy is losing steam and that the global economy is experiencing a “China shock 2.0”. “Looking across the globe, China’s growth target stands out as second to none,” the state-run Economic Daily wrote in a Thursday editorial, noting that the country’s goal of achieving 4.5 to 5 per cent growth in 2026 was far higher than the 2.6 per cent global growth... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3348787/china-shock-20-false-narrative-born-western-anxiety-chinese-media?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3348787/china-shock-20-false-narrative-born-western-anxiety-chinese-media?utm_source=rss_feed Thu, 02 Apr 2026 07:55:43 +0000 Anthony Rowley Anthony Rowley The law of unintended consequences, a theory popularised by American sociologist Robert K Merton, has rarely been more applicable to any situation than to US President Donald Trump’s war with Iran. Those consequences will be far greater than generally imagined. Their impact will fall heavily on Asia, the world’s most energy-import-dependent region and will almost certainly hurt US ally Japan more than it will the US’ main rival, China. Indeed, China may even emerge from the crisis with an... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3348014/asia-worst-effects-trumps-war-iran-are-yet-come?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3348014/asia-worst-effects-trumps-war-iran-are-yet-come?utm_source=rss_feed Sat, 28 Mar 2026 08:30:08 +0000 Ji Siqi Ji Siqi China has sufficient capacity to absorb external shocks from the Iran war and meet its annual economic growth target, a prominent economist said, while adding it was also preparing for the possibility that Washington might renege on trade deals. Justin Lin Yifu, dean of the Institute of New Structural Economics at Peking University and a former chief economist at the World Bank, said on Thursday that no country could be spared from the economic impacts of the conflict in the Middle East, which... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3348154/chinas-economy-big-enough-absorb-iran-war-shocks-says-justin-lin?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3348154/chinas-economy-big-enough-absorb-iran-war-shocks-says-justin-lin?utm_source=rss_feed Fri, 27 Mar 2026 12:00:12 +0000 Bibek Bhandari Bibek Bhandari Nepal’s prime minister-in-waiting came to power on a promise of change. Now he faces the monumental challenge of taking on a system weighed down by corruption and poor governance while meeting the towering expectations of the millions who backed him and his anti-establishment party. Balendra Shah – a rapper, engineer and former mayor of Kathmandu popularly known as Balen – handily defeated former prime minister K.P. Sharma Oli in the election on March 5, with his Rastriya Swatantra Party (RSP)... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/politics/article/3346981/nepal-voted-change-can-its-rapper-engineer-pm-deliver?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/politics/article/3346981/nepal-voted-change-can-its-rapper-engineer-pm-deliver?utm_source=rss_feed Wed, 18 Mar 2026 05:40:30 +0000 Agence France-Presse Agence France-Presse For years India’s economy was driven by its vast services sector that saw millions of people working away in low-cost back offices providing consultancy for predominantly Western companies. But over the past decade they have given way to centres that allow firms to tap top-tier talent and technology, where white-collar staff perform tasks ranging from IT and data analytics to innovation and design. Today, these centres are the shiniest parts of India’s red-hot economy but not everyone has been... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/south-asia/article/3345855/boom-times-indias-economy-opportunities-remain-uneven?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/south-asia/article/3345855/boom-times-indias-economy-opportunities-remain-uneven?utm_source=rss_feed Sun, 08 Mar 2026 05:15:07 +0000 Mandy Zuo Mandy Zuo Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the third entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. In China’s eastern province of Zhejiang, a sprawling laboratory for Beijing’s “common prosperity” campaign to reduce income inequality, statistics suggest success: between 2021... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3344302/how-china-could-narrow-tech-hubs-income-gap-and-avoid-silicon-valleys-fate?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3344302/how-china-could-narrow-tech-hubs-income-gap-and-avoid-silicon-valleys-fate?utm_source=rss_feed Sun, 01 Mar 2026 02:00:12 +0000 Laura Zhou Laura Zhou Early in 2021, Chinese Foreign Minister Wang Yi visited Myanmar’s capital Naypyidaw and held talks with both General Min Aung Hlaing, the chief of the armed forces, and Aung San Suu Kyi, the de facto leader of the civilian government. The meeting was a chance for China to voice support for Myanmar’s “national conditions” development path and signal China’s long-term pragmatic approach to ties with its southwestern neighbour, irrespective of who was in power. That strategy, however, came under... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3343830/5-years-and-1-election-later-why-chinas-myanmar-dilemma-still-isnt-over?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3343830/5-years-and-1-election-later-why-chinas-myanmar-dilemma-still-isnt-over?utm_source=rss_feed Fri, 27 Feb 2026 22:00:10 +0000 Reuters Reuters Ukrainian President Volodymyr Zelensky said on Wednesday that he and US President Donald Trump agreed that the next session of trilateral talks in March on a war settlement should lead to a meeting of the countries’ leaders. Zelensky, speaking after a phone conversation with Trump, said the three-sided talks with Russia and the United States would take place early next month. US negotiators Steve Witkoff and Jared Kushner also took part in the ‌phone call. “We expect this meeting to create an... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/russia-central-asia/article/3344656/zelensky-speaks-trump-says-talks-should-lead-leaders-meeting-russia?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/russia-central-asia/article/3344656/zelensky-speaks-trump-says-talks-should-lead-leaders-meeting-russia?utm_source=rss_feed Wed, 25 Feb 2026 21:44:30 +0000 Agence France-Presse Agence France-Presse Russia launched its full-scale invasion of Ukraine on February 24, 2022, unleashing the deadliest war in Europe since World War II. As the conflict reaches its four-year mark, here’s a look at the state of the conflict and some of the consequences for both countries. Destruction The war has resulted in widespread destruction in Ukraine. Entire cities in Ukraine’s east and south, among them Bakhmut, Toretsk and Vovchansk, have been reduced to rubble by fighting. The World Health Organization has... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3344429/where-ukraine-and-russia-stand-war-enters-fifth-year?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3344429/where-ukraine-and-russia-stand-war-enters-fifth-year?utm_source=rss_feed Tue, 24 Feb 2026 06:49:25 +0000 Aidan Jones Aidan Jones Cambodia is scrambling to shore up an economy battered by months of border conflict with Thailand, as shuttered crossings choke trade and hundreds of thousands of migrant workers return home to fewer jobs and lower pay. Prime Minister Hun Manet is travelling to the United States and Europe this week seeking to diversify markets and secure new investment, part of a broader effort to reduce Cambodia’s reliance on Thailand after the fighting forced supply chains to be diverted and slashed... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3343805/cambodia-seeks-economic-reset-after-thailand-border-war-batters-trade-and-remittances?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3343805/cambodia-seeks-economic-reset-after-thailand-border-war-batters-trade-and-remittances?utm_source=rss_feed Tue, 17 Feb 2026 07:00:14 +0000