https://www-scmp-com.libproxy1.nus.edu.sg/rss/325422/feed Latest news, features and opinion on the International Monetary Fund (IMF). The 189-nation IMF promotes global monetary cooperation, facilities trade, encourages sustainable growth and makes funds available to countries experiencing fiscal difficulties. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Park Chan-kyong Park Chan-kyong South Korea earned US$116.63 billion more from the world than it spent in the second quarter of this year – exceeding the combined current account surpluses of Germany and Japan for the first time on record. The current account measures a country’s trade and income with the world. It counts goods and services sold abroad, money earned on overseas investments and payments flowing the other way. A surplus means more foreign currency is coming in than going out. Surging demand for semiconductors... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3372150/ai-chip-surge-lifts-south-korea-record-surplus-behind-only-china https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3372150/ai-chip-surge-lifts-south-korea-record-surplus-behind-only-china Mon, 26 Oct 2026 08:39:38 +0000 Tom Hussain Tom Hussain Before the outbreak of the war triggered by the US-Israeli attack on Iran in February, the Gulf monarchies were living the prosperity dream that was the envy of the world. Their hydrocarbon-fuelled economies were glitzy oases of growth, inoculated from the conflict in Gaza that had rocked other parts of the Middle East for several years. Underpinned by decades-old US security guarantees and conflict mediation by billionaire sheikhs, Saudi Arabia, the United Arab Emirates and Qatar cultivated... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3371922/gulf-economies-accelerate-diversification-recession-looms-over-iran-war https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3371922/gulf-economies-accelerate-diversification-recession-looms-over-iran-war Sun, 25 Oct 2026 04:00:10 +0000 Tang Meng Kit Tang Meng Kit Last month, the US published the fine print of a US$686 million upgrade deal for Pakistan’s F-16 fighter jets. The deal is for data link systems, new encryption gear and a refit that keeps the jets flying until 2040. The notice says Pakistan can protect the technology to “substantially the same degree” as the US government. The Pakistan Air Force is also the only declared interested buyer of China’s J-35 stealth fighter, a generational leap in technology. The Chinese jet first flew at the Zhuhai... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3371561/pakistan-and-us-factor-china-looks-sell-its-j-35-stealth-jets https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3371561/pakistan-and-us-factor-china-looks-sell-its-j-35-stealth-jets Wed, 21 Oct 2026 21:30:06 +0000 Erwin R. Tiongson Erwin R. Tiongson Each autumn, the world’s economics teams come together for the annual meetings of the International Monetary Fund (IMF) and the World Bank. Last week’s gathering in Bangkok included the launch of the IMF’s World Economic Outlook (WEO). Led by IMF economists, the international economic community’s collective wisdom on the world’s economic prospects was made public. Remarkably, they expect steady growth in a time of so much uncertainty and strife. “This steady growth is the net result of two big... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3371446/amid-positive-growth-forecasts-lets-not-forget-our-devastating-losses https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3371446/amid-positive-growth-forecasts-lets-not-forget-our-devastating-losses Wed, 21 Oct 2026 12:30:11 +0000 Mandy Zuo,Sylvia Ma Mandy Zuo,Sylvia Ma Both China and the world need an internationalised yuan in a multipolar global economic environment, a former senior Chinese official has urged in an article that was published as Beijing upgraded its digital-yuan infrastructure to bolster efforts to reshape the US dollar-dominated global financial system. Wider use of the Chinese currency, also known as the renminbi, would support China’s high-quality growth while offering an alternative that could help stabilise the international financial... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371653/former-imf-executive-says-china-and-world-need-internationalised-yuan https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371653/former-imf-executive-says-china-and-world-need-internationalised-yuan Wed, 21 Oct 2026 10:00:13 +0000 Sylvia Ma Sylvia Ma Former Chinese central bank governor Zhou Xiaochuan has warned that failed artificial intelligence investments could trigger financial turbulence and urged preparations to mitigate risks amid concerns over a potential bust of the AI investment bubble. “Consider[ing]... such a large amount of the investment going to the AI facility; if a part of it goes to failure, it causes financial turbulence, and this may create a crisis,” Zhou said during a panel discussion at the Bund Summit in Shanghai on... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371612/former-pboc-governor-warns-potential-crisis-ai-investment-urging-preparation https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371612/former-pboc-governor-warns-potential-crisis-ai-investment-urging-preparation Wed, 21 Oct 2026 09:00:08 +0000 Syed Munir Khasru Syed Munir Khasru A country need not run out of money to find itself in a debt crisis. It only has to run short of US dollars to pay for its energy. At the recent International Monetary Fund-World Bank annual meetings in Bangkok, the IMF, which expects global economic growth of 3.1 per cent this year and 3.4 per cent the next, cautioned that energy-importing and lower-income economies face a harder road, even as those riding the artificial intelligence boom fare relatively well. According to the World Bank’s... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3371271/energy-shock-could-spark-asias-next-debt-crisis https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3371271/energy-shock-could-spark-asias-next-debt-crisis Tue, 20 Oct 2026 08:30:10 +0000 Agence France-Presse Agence France-Presse Riyadh’s Kingdom Centre skyscraper ordered remote working for office tenants on Sunday following repeated Houthi attacks on Saudi Arabia, as the Saudi-led coalition said two pilots were killed in a crash near the Yemen border. The imposing, 99-storey landmark announced “mandatory” remote working until further notice. No reason was given for the order, but it comes a week after 13 people were killed in a major Houthi attack on Riyadh’s international airport. The Saudi coalition’s decade-plus war... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/middle-east/article/3371307/saudi-closes-riyadh-skyscraper-chopper-pilots-killed-near-yemen https://www-scmp-com.libproxy1.nus.edu.sg/news/world/middle-east/article/3371307/saudi-closes-riyadh-skyscraper-chopper-pilots-killed-near-yemen Sun, 18 Oct 2026 11:22:38 +0000 Natalie Wong Natalie Wong The government is more “optimistic” than the International Monetary Fund (IMF) about Hong Kong’s economic growth for the year, the finance chief has said, pointing to the city’s unique position to capitalise on international capital flows and the artificial intelligence (AI) boom. Writing on his blog on Sunday after attending the IMF and World Bank Group’s annual meetings in Bangkok, Financial Secretary Paul Chan Mo-po said world leaders’ discussions had been dominated by two factors: the rapid... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371288/hong-kong-optimistic-economic-growth-despite-global-slowdown-paul-chan-says https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371288/hong-kong-optimistic-economic-growth-despite-global-slowdown-paul-chan-says Sun, 18 Oct 2026 06:20:55 +0000 Simpson Cheung,Lam Ka-sing Simpson Cheung,Lam Ka-sing As Hong Kong hosts the Apec Finance Ministers’ Meeting on Tuesday, this two-part series examines the summit’s significance and its implications for Beijing on the global stage. In part one, Simpson Cheung and Alfred Lam explore how the event could elevate the city’s status as an international financial centre at a pivotal moment. Beijing’s decision to have Hong Kong host the Apec Finance Ministers’ Meeting this week is a deliberate move to galvanise the city’s standing as an offshore renminbi... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371251/why-hong-kong-hosting-apec-finance-ministers-meeting-there-another-agenda https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371251/why-hong-kong-hosting-apec-finance-ministers-meeting-there-another-agenda Sun, 18 Oct 2026 01:00:06 +0000 Reuters Reuters Many delegates to ⁠the International Monetary Fund’s steering ⁠committee walked out of a meeting on ⁠Saturday when Russian Finance Minister Anton Siluanov addressed the group in Russian, three sources familiar with the matter said. Russia’s invasion of Ukraine in February 2022 has roiled the International Monetary and Financial Committee, preventing it from reaching consensus statements in the years ‌since. There were deep divisions again at this week’s annual meetings of the IMF and World Bank... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3371248/european-delegates-walk-out-russian-finance-minister-imf-summit https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3371248/european-delegates-walk-out-russian-finance-minister-imf-summit Sat, 17 Oct 2026 07:51:33 +0000 Agence France-Presse Agence France-Presse Coconut farmer Sombat Chuekrod travelled more than 200km (120 miles) to join hundreds on the streets of Bangkok on Friday demanding that the International Monetary Fund (IMF) and World Bank change how they deal with the developing world. Finance ministers, central bank governors and other top policymakers gathered this week in the Thai capital for the IMF-World Bank Annual Meetings, as decision makers tackle an inflation crisis fuelled by the Iran war and other economic shocks. The message from... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3371223/thai-people-already-poor-developing-nations-protest-imfs-austerity-call https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3371223/thai-people-already-poor-developing-nations-protest-imfs-austerity-call Sat, 17 Oct 2026 03:03:33 +0000 Nicholas Spiro Nicholas Spiro For a truly staggering figure, look no further than an estimate from Columbia Business School Professor Stijn Van Nieuwerburgh of the cumulative investment in artificial intelligence-related infrastructure by 2032. In a paper last month, Van Nieuwerburgh said the AI buildout could reach US$10.3 trillion, the equivalent of 3.6 per cent of annual US economic output for the next seven years. The average annual capital expenditure dwarfs previous infrastructure booms, including railways, highways... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3370945/why-ai-investment-boom-could-spark-next-financial-crisis https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3370945/why-ai-investment-boom-could-spark-next-financial-crisis Thu, 15 Oct 2026 08:30:05 +0000 Aidan Jones Aidan Jones Faced with a fuel crisis beyond its control, Bangladesh’s government is spending the equivalent of hundreds of millions of US dollars each month to insulate its people from surging prices. But as growth slows and inflation rises, the new government’s reform plans are being tested before it has had much time to clean up the country’s troubled financial institutions or retool its young, abundant – but underemployed – workforce for the AI era. Prime Minister Tarique Rahman took office on February... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3370930/how-fuel-crisis-threatening-bangladeshs-reform-goals-it-hit-our-citizens-hard https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3370930/how-fuel-crisis-threatening-bangladeshs-reform-goals-it-hit-our-citizens-hard Thu, 15 Oct 2026 03:00:12 +0000 Associated Press Associated Press The head of the International Monetary Fund said on Wednesday that the US and other wealthy nations needed to urgently tackle mounting global debt levels that were weighing heaviest on low-income countries and straining the global financial system. IMF Managing Director Kristalina Georgieva said that while US Treasury Secretary Scott Bessent and other US leaders recognised that the federal deficit and national debt had grown too high, just trying to grow the US economy out of its more than US$40... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3370877/imf-head-urges-us-and-rich-nations-rein-deficits-global-debt-soars https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3370877/imf-head-urges-us-and-rich-nations-rein-deficits-global-debt-soars Wed, 14 Oct 2026 09:20:29 +0000 Reuters Reuters Asian countries must remind themselves about what happened during the region’s financial crisis in the late 1990s and guard against a recurrence of such shocks, the head of the Philippine central bank said ‌on Wednesday. Before the Asian financial crisis started in 1997, regional economies saw huge capital inflows that prompted the World Bank to describe it as the “East Asian miracle”, Eli Remolona, governor of the central bank, said in an International Monetary Fund panel on the outlook for the... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3370829/asia-must-guard-against-repeat-1997-financial-crisis-philippine-central-bank-chief https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3370829/asia-must-guard-against-repeat-1997-financial-crisis-philippine-central-bank-chief Wed, 14 Oct 2026 05:46:12 +0000 Alice Li Alice Li Growth in Chinese factory-gate prices continued to accelerate last month, while consumer price growth remained subdued despite Beijing’s efforts to shore up domestic demand and support the economy in meeting its annual growth target. The producer price index (PPI) rose 5 per cent year on year in September, the highest rate since mid-2022, according to data released by the National Bureau of Statistics on Wednesday. It rose by 3.8 per cent in August. The reading beat a projection of 4.3 per cent... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370796/growth-chinas-factory-gate-prices-accelerates-consumer-inflation-subdued https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370796/growth-chinas-factory-gate-prices-accelerates-consumer-inflation-subdued Wed, 14 Oct 2026 02:01:22 +0000 Tim Yuen Lingk Tim Yuen Lingk Rising sovereign debt and borrowing costs have prompted a fresh warning from the International Monetary Fund (IMF) about risks to the fiscal health of member countries, with 24-year highs in US Treasury yields expected to become one of the focal topics for central bankers and finance ministers gathering in Bangkok this week. The average yield on 10-year government bonds across the Group of Seven economies increased by more than 1 percentage point between February and September this year,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370722/imf-warns-higher-borrowing-costs-are-straining-public-finances-worldwide https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370722/imf-warns-higher-borrowing-costs-are-straining-public-finances-worldwide Wed, 14 Oct 2026 02:00:12 +0000 Denise Tsang Denise Tsang China’s finance minister, Lan Foan, will deliver a keynote speech, while presentations by three prominent financial institutions will be among the highlights of next week’s Apec meeting in Hong Kong, the South China Morning Post has learned. A draft agenda obtained by the SCMP on Monday listed a series of programmes for finance ministers from the Asia-Pacific Economic Cooperation’s 21 member economies on October 20 and 21 at the Hong Kong Convention and Exhibition Centre in Wan Chai. Sources... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3370640/china-finance-minister-deliver-opening-speech-apec-meeting-hong-kong https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3370640/china-finance-minister-deliver-opening-speech-apec-meeting-hong-kong Mon, 12 Oct 2026 23:00:37 +0000 Aidan Jones Aidan Jones An investment surge into artificial intelligence may be helping prop up a global economy battered by energy supply shocks, but the technology’s potential to cull jobs requires swift mitigation if Asia’s youth are to secure a place in the future workforce, delegates were warned at the IMF–World Bank annual meetings in Bangkok on Monday. Soaring energy prices, persistent inflation and mounting debt framed the opening of the week-long summit, which was last hosted in the Thai capital in... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3370618/ai-fuelling-growth-while-putting-asias-young-workers-risk-imf-meeting-hears https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3370618/ai-fuelling-growth-while-putting-asias-young-workers-risk-imf-meeting-hears Mon, 12 Oct 2026 11:04:14 +0000 Daisy Wu Daisy Wu China should seize a window opened by the widening US-China yield gap to strengthen the financing, hedging and asset-absorption systems behind the yuan, turning its cyclical low-interest-rate advantage into lasting global use of the currency, according to a researcher from a Beijing-based governmental think tank. The 10-year US Treasury yield was 5.22 per cent on Thursday, compared with 1.69 per cent for Chinese government bonds on their first trading day after the National Day holiday – a gap... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370252/can-china-use-widening-yield-gap-between-us-dollar-and-yuan-boost-global-role https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370252/can-china-use-widening-yield-gap-between-us-dollar-and-yuan-boost-global-role Fri, 09 Oct 2026 03:00:07 +0000 Aidan Jones Aidan Jones Monsoon floods in Thailand have killed 60 people since mid-September, officials said, as surging waters exact an increasing economic toll – destroying homes and crops, killing livestock and flooding factories. Bangkok buckled at the end of September as 300mm (11.8 inches) of rain – around one month’s worth – hit its creaking drainage system over just three days. The floodwaters have largely retreated from the capital, giving city officials crucial breathing space to clear the stinking,... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/health-environment/article/3370074/nothing-left-deadly-floods-slam-thai-economy-and-strain-bangkok-ahead-imf-meeting https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/health-environment/article/3370074/nothing-left-deadly-floods-slam-thai-economy-and-strain-bangkok-ahead-imf-meeting Wed, 07 Oct 2026 11:40:06 +0000 Bloomberg Bloomberg Bangkok is preparing for possible flooding as more than 15,000 delegates are due to arrive for the annual meetings of the International Monetary Fund and World Bank Group. The Thai capital could receive about 50mm (two inches) of rain a day from October 11-13, coinciding with the start of the week-long gathering of finance ministers, central bankers, executives and other delegates from the institutions’ 191 member countries, according to Surapong Sarapa, the Meteorological Department’s head of... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3369848/bangkok-braces-fresh-chaos-possible-floods-threaten-imf-world-bank-summit https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3369848/bangkok-braces-fresh-chaos-possible-floods-threaten-imf-world-bank-summit Tue, 06 Oct 2026 01:45:22 +0000 Sherry Wang Sherry Wang The Chinese government needs to increase its spending on social safety nets, including pensions and rural healthcare, and further relax urban household registration restrictions to give households greater confidence to spend rather than save, according to the International Monetary Fund’s (IMF) Asia-Pacific chief. In an interview with the South China Morning Post, Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, said the export- and investment-led model that powered China’s... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368548/increase-chinas-consumption-boost-nations-social-safety-net-imf-director-says https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368548/increase-chinas-consumption-boost-nations-social-safety-net-imf-director-says Wed, 23 Sep 2026 14:15:30 +0000 Richard Lord Richard Lord In the almost 35 years since leaving the Soviet Union, Kazakhstan has been gradually privatising its numerous state-owned assets. The pace of change has been uneven, but the political will seems to be there – and this desire to attract foreign capital could provide Hong Kong with a huge opportunity. The economies of Kazakhstan and China have long been intertwined. The sprawling Central Asian nation to China’s northwest was once a vital node on the ancient Silk Road, and today it plays an equally... https://www-scmp-com.libproxy1.nus.edu.sg/special-reports/article/3366774/kazakhstans-privatisation-push-offers-new-ipo-opportunities-hong-kong https://www-scmp-com.libproxy1.nus.edu.sg/special-reports/article/3366774/kazakhstans-privatisation-push-offers-new-ipo-opportunities-hong-kong Tue, 08 Sep 2026 22:45:07 +0000 Ng Kang-chung Ng Kang-chung Hong Kong will step up support for belt and road enterprises seeking to expand into new markets and tap regional growth, reinforcing its role as a pivotal business hub and platform for deeper exchanges, the city’s finance chief has said. In his weekly blog on Sunday, Paul Chan Mo-po also pointed to strong growth in emerging markets and developing economies in recent years, citing International Monetary Fund projections of a further 3.8 per cent and 4.5 per cent expansion respectively over the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3366538/hong-kong-propel-belt-and-road-market-expansion-finance-chief-says https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3366538/hong-kong-propel-belt-and-road-market-expansion-finance-chief-says Sun, 06 Sep 2026 10:06:52 +0000 Xinyi Wu Xinyi Wu China has fired back at critics of its trade imbalances at a Group of 20 gathering, with the central bank firmly denying that Beijing deliberately pursues trade surpluses, while also vowing that it would not weaponise the yuan to boost exports. In the face of concerns over export reliance, People’s Bank of China governor Pan Gongsheng said the country remained committed to expanding domestic demand, state broadcaster CCTV reported on Wednesday. “Addressing global imbalances requires all... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366213/china-rejects-g20-trade-imbalance-claims-says-no-need-devalue-yuan https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366213/china-rejects-g20-trade-imbalance-claims-says-no-need-devalue-yuan Thu, 03 Sep 2026 07:11:08 +0000 Reuters Reuters South Korea on Tuesday unveiled its most aggressive financial spending plan on record, setting total government expenditure for 2027 at 821 trillion won (US$600 billion) to strengthen the country’s technological edge amid the global AI race. In its annual budget proposal, the budget ministry said the spending plan ‌represented a 12.8 per cent rise from 2026, marking the largest year-on-year increase in the country’s history. The proposal signals a shift in Asia’s fourth-largest economy under... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/east-asia/article/3365922/south-korea-sets-record-us600-billion-budget-backed-chip-windfall https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/east-asia/article/3365922/south-korea-sets-record-us600-billion-budget-backed-chip-windfall Tue, 01 Sep 2026 04:18:23 +0000 Biman Mukherji Biman Mukherji A new defence pact between Pakistan, Saudi Arabia and Turkey has raised questions in New Delhi over whether Islamabad could use the agreement to build wider security ties with Muslim-majority countries in India’s neighbourhood, analysts have said. The Mecca Joint Defence Agreement, signed on Friday, states that an armed attack on any one of the three countries would be treated as an attack on all of them. The tripartite agreement followed a bilateral one between Saudi Arabia and Pakistan signed... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/politics/article/3363675/islamic-nato-why-pakistans-new-defence-pact-has-india-edge https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/politics/article/3363675/islamic-nato-why-pakistans-new-defence-pact-has-india-edge Tue, 11 Aug 2026 10:40:46 +0000 Anthony Rowley Anthony Rowley The world might be dividing into rival camps and competing trade blocs, but international capital flows remain footloose and fancy free. In so doing, they pose a threat to what remains of stability in the real economy. A good example of this growing potential for international contagion is the influence of the weak yen on global stock prices. The Japanese currency is expected to remain weak for the foreseeable future – despite recent official intervention in foreign exchange markets by Japan and... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3363176/behind-ai-stock-market-bubble-lies-weak-yen https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3363176/behind-ai-stock-market-bubble-lies-weak-yen Sat, 08 Aug 2026 08:30:06 +0000 Igor Patrick Igor Patrick Argentina has renewed its currency swap with China for five years, preserving a US$19 billion lifeline that Washington spent more than a year pressing it to give up. The Argentine central bank and the People’s Bank of China (PBOC) signed the extension of the 130 billion yuan line on Wednesday, a day before the existing deal was due to expire. The new term runs to 2031, two years longer than any previous renewal since the two countries first signed it in 2009. The decision ends months of... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3363219/argentina-renews-us19-billion-china-currency-swap-brushing-washingtons-pressure https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3363219/argentina-renews-us19-billion-china-currency-swap-brushing-washingtons-pressure Thu, 06 Aug 2026 19:21:23 +0000 Kandy Wong Kandy Wong Simon Johnson is a professor of entrepreneurship at the Massachusetts Institute of Technology (MIT). A former chief economist of the International Monetary Fund (IMF), he won a joint Nobel Prize for economics in 2024 for his research into how institutions shape national prosperity. On June 8, the British government announced Johnson as chair of its new AI Economics Institute. In this interview, conducted on the sidelines of the UBS Asian Investment Conference in Hong Kong, Johnson discussed the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361690/nobel-laureate-simon-johnson-ai-race-and-chinas-over-automation-problem https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361690/nobel-laureate-simon-johnson-ai-race-and-chinas-over-automation-problem Sun, 26 Jul 2026 22:00:13 +0000 Kandy Wong Kandy Wong Simon Johnson is a professor of entrepreneurship at the Massachusetts Institute of Technology (MIT). A former chief economist of the International Monetary Fund (IMF), he won a joint Nobel Prize for economics in 2024 for his research into how institutions shape national prosperity. On June 8, the British government announced Johnson as chair of its new AI Economics Institute. In this interview, conducted on the sidelines of the UBS Asian Investment Conference in Hong Kong, Johnson discussed the... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3361667/nobel-economist-anti-china-anti-science-us-ais-risks https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3361667/nobel-economist-anti-china-anti-science-us-ais-risks Fri, 24 Jul 2026 03:33:02 +0000 Sylvia Ma Sylvia Ma With central banks prioritising domestic objectives, Plaza Accord-style exchange-rate coordination is now out of reach despite growing concerns over the dollar-centred monetary system, complicating the smooth transition to a more multipolar international monetary system, according to a prominent economic historian. Barry Eichengreen, a former senior policy adviser at the International Monetary Fund, said that if erratic US policies and weakening institutional guard rails were to persist for... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3360388/dollar-risks-rising-plaza-accord-style-coordination-not-feasible-now-ex-imf-adviser https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3360388/dollar-risks-rising-plaza-accord-style-coordination-not-feasible-now-ex-imf-adviser Tue, 14 Jul 2026 00:00:11 +0000 Anthony Rowley Anthony Rowley The brave new world of artificial intelligence (AI) is going to be a mixed and divisive blessing for governments – not least those of key Asian countries – as well as for financial markets. The AI revolution points to higher economic growth for economies linked to the tech supply chain, with others being left behind. It also signals the potential for financial crises. Balancing these risks will be tricky. The relative optimism, displayed in a recent report from the International Monetary Fund... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3360068/dont-expect-rising-tide-ai-lift-all-boats https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3360068/dont-expect-rising-tide-ai-lift-all-boats Sat, 11 Jul 2026 08:30:06 +0000 Associated Press Associated Press The International Monetary Fund (IMF) on Wednesday modestly downgraded its outlook for the world economy this year, citing the energy shock caused by the Iran war. But the fallout from the conflict is being partially offset by booming investment in artificial intelligence and other technologies. The IMF now expects the global economy to expand by a sluggish 3 per cent in 2026, down from 3.5 per cent last year and from the 3.1 per cent it had forecast for this year back in April. The fund expects... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3359890/imf-sees-world-economy-growing-just-3-year-amid-iran-war https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3359890/imf-sees-world-economy-growing-just-3-year-amid-iran-war Wed, 08 Jul 2026 14:41:23 +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 https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3359600/healthy-economy-isnt-built-asset-bubbles-and-debt-pyramids 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 https://www-scmp-com.libproxy1.nus.edu.sg/news/china/science/article/3359314/chinese-police-uncover-link-between-investment-and-attacks-citizens-africa 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 https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3359282/venezuelas-leader-defends-quake-response-thousands-remain-missing Fri, 03 Jul 2026 06:46:54 +0000 Tom Hussain Tom Hussain Three months of war with the United States and Israel may not have broken Iran’s resistance, but its economy has been brought to its knees. Forty days of American and Israeli bombing in March and early April – targeting energy grids, steel mills, petrochemical plants, ports and transport corridors – were followed by a two-month US naval blockade that sealed off much of what remained. The damage bill has reached an estimated US$270 billion against a gross domestic product of US$371 billion in... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/politics/article/3358522/iran-survived-3-months-war-can-it-survive-aftermath https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/politics/article/3358522/iran-survived-3-months-war-can-it-survive-aftermath Sat, 27 Jun 2026 05:00:09 +0000 Ji Siqi Ji Siqi The United States represents the primary obstacle to continuing oil-for-loan arrangements between China and Venezuela, analysts say, creating a significant wild card in what ranks among the largest debt restructurings in history. Following Washington’s abduction in January of Venezuela’s then president, Nicolas Maduro, Caracas is set to reveal a US$240 billion debt pile, according to a Financial Times report on Wednesday. The disclosure, expected in the coming weeks, rivals the €200 billion... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3358502/venezuela-chinas-oil-loan-deals-run-debt-restructuring-us-gatekeeper-risk https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3358502/venezuela-chinas-oil-loan-deals-run-debt-restructuring-us-gatekeeper-risk Fri, 26 Jun 2026 13:00:05 +0000 Alex Lo Alex Lo Leaders of the G7 rich nations might have gone into this month’s summit in France hoping for a united front against China. But, overshadowed by the conflicts in Iran and Ukraine and alienated by a mercurial US President Donald Trump, the lacklustre gathering came up short. There was no public agreement on how to address the so-called China shock 2.0, the supposed overcapacity issues and currency manipulation that is considered to be the cause of Chinese exports flooding into Europe. Instead of... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3358271/europe-wants-new-plaza-accord-china-seriously https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3358271/europe-wants-new-plaza-accord-china-seriously Fri, 26 Jun 2026 12:30:05 +0000 Reuters Reuters European Central ⁠Bank President Christine Lagarde ⁠on Monday urged global leaders to discuss undervaluation of the Chinese currency as a facet of the imbalances endangering the global economy. China has ‌consistently denied that it manipulates its currency for trade advantage but its surging trade surpluses are one of several macroeconomic mismatches worrying leaders of the Group of Seven (G7) nations who met last week in ⁠France, along with chronic US deficits and Europe’s... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/money-wealth/article/3357971/european-central-banks-president-lagarde-urges-talks-yuan-undervaluation https://www-scmp-com.libproxy1.nus.edu.sg/news/china/money-wealth/article/3357971/european-central-banks-president-lagarde-urges-talks-yuan-undervaluation Mon, 22 Jun 2026 18:13:40 +0000 Reuters Reuters Bolivia began showing signs of returning to normalcy on Sunday, a day after President Rodrigo Paz declared a state of emergency to resolve a 50-day social crisis that ‌had blocked the nation’s main highways. Early on Sunday, the Legislative Assembly overwhelmingly approved Paz’s decree, which aimed to restore transit and supply essential goods after protesting groups cut off key roads for weeks, stranding trucks and choking supplies of food, fuel and medicines to many areas. Sunday’s vote in... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3357839/bolivian-lawmakers-approve-state-emergency-protests-choke-supply-chain https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3357839/bolivian-lawmakers-approve-state-emergency-protests-choke-supply-chain Sun, 21 Jun 2026 14:04:04 +0000 Reuters Reuters Bolivia’s crisis intensified on Saturday as President Rodrigo Paz declared a state of emergency, enabling wider military ‌deployment to clear blockades and restore order after protests brought the economy to a halt over the past 50 days. The emergency declaration gives Paz broader constitutional tools to restore order, such as sending armed forces to clear blockades. While the order goes into effect immediately, the president must notify Congress of the state of emergency within 24 hours of... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3357770/bolivias-president-declares-state-emergency-paving-way-troop-deployment https://www-scmp-com.libproxy1.nus.edu.sg/news/world/americas/article/3357770/bolivias-president-declares-state-emergency-paving-way-troop-deployment Sat, 20 Jun 2026 07:50:44 +0000 David Dodwell David Dodwell It seems that not a day passes without fevered headlines about the impact of artificial intelligence (AI) on future jobs. Alarm and confusion are everywhere – from young people trying to enter the job market to AI specialists worried their role is about to be usurped by AI itself to accountants and lawyers watching AI gobble up roles that until recently justified high fees and salaries. Panic is warranted, not just over the increasingly rapid encroachment of AI into every part of our personal... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3357550/ai-development-needs-reining-whether-it-creates-jobs-or-not https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3357550/ai-development-needs-reining-whether-it-creates-jobs-or-not Fri, 19 Jun 2026 08:30:04 +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 https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3356916/aiib-head-zou-jiayi-why-multilateralism-infrastructure-global-trust Sun, 14 Jun 2026 22:00:12 +0000 Sylvia Ma Sylvia Ma The global business appetite for China’s yuan is strengthening as Beijing’s long-term campaign to internationalise its currency gains traction, according to a new industry white paper. More than 95 per cent of overseas companies expect to maintain or increase their cross-border yuan settlements over the coming year, according to the latest findings from Bank of China, one of the country’s leading state-owned lenders. The report, released this week, showed that 34.5 per cent of surveyed overseas... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3356861/95-overseas-firms-expect-sustain-or-boost-use-yuan-bank-china-poll https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3356861/95-overseas-firms-expect-sustain-or-boost-use-yuan-bank-china-poll Fri, 12 Jun 2026 06:07:58 +0000 Enoch Yiu Enoch Yiu The Ministry of Finance announced on Wednesday that it plans to issue 15 billion yuan (US$2.2 billion) worth of sovereign bonds in Hong Kong next week, marking its third issuance this year and strengthening the city’s role as the world’s largest offshore yuan trading hub. Analysts expected the issuance to be popular because the yuan had been appreciating against other currencies and many international investors were seeking to diversify their portfolios amid geopolitical tensions. The bonds,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3356610/mainland-china-set-raise-us22b-hong-kong-bond-sale-amid-demand-yuan-assets https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3356610/mainland-china-set-raise-us22b-hong-kong-bond-sale-amid-demand-yuan-assets Wed, 10 Jun 2026 08:00:07 +0000 Xiaofei Xu Xiaofei Xu An initiative designed to tackle inequality and climate change could benefit China by reinventing global financial and trade institutions and liberating countries from constantly chasing trade surpluses and foreign reserves, French economist and inequality specialist Thomas Piketty said. A report by Piketty and fellow researchers at the World Inequality Lab that was published on Thursday envisions a fully costed plan to slash global inequality, fund the green transition and reform international... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3355915/new-global-financial-architecture-needed-end-trade-surplus-fixation-piketty https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3355915/new-global-financial-architecture-needed-end-trade-surplus-fixation-piketty Thu, 04 Jun 2026 06:00:18 +0000