AFP Asia Business
Asian stocks drop as China support plan falls flat, bitcoin hits record
Asian markets fell Monday after China’s keenly anticipated plans to support the world’s number two economy fell short of expectations, while traders were also keeping tabs on Washington as Donald Trump puts his cabinet together after last week’s election win.Stocks rallied last week on hopes that a second Trump administration — supported by a Republican …
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Asia, the world’s economic engine, prepares for Trump shock
Some Asian countries stand to gain if US president-elect Donald Trump pushes ahead with his promised massive tariffs on China and triggers a new wave of factory relocations to the rest of the region.But a trade war between the world’s biggest economies would also destabilise markets everywhere, with Asia — which contributes the largest share …
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How China plans to cut hidden debt in massive shakeup
China has unveiled an ambitious plan to relieve public debt, aiming to turn local governments away from belt-tightening practices that have exacerbated a domestic downturn.Policymakers gathered in Beijing this past week approved a proposal to swap six trillion yuan ($840 billion) of hidden debt belonging to local governments for official loans with more favourable terms.Hidden debts …
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US farmers gird for trade wars on Trump tariff pledges
Donald Trump’s first White House term saw a bruising trade war with China that left a lingering impact on farmers — and many are bracing for further fallout as the President-elect threatens higher levies on Beijing.Trump tariffs since 2018 hit some $300 billion of Chinese imports, sparking retaliation that targeted key farm products like soybeans …
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Balinese hope construction freeze can tame tourism
On Indonesia’s beach-fringed resort island of Bali, fed-up locals want to slow the mass tourism that is their biggest money earner — hoping a plan to freeze hotel-building can restore some calm.Anxious about runaway tourism, many Balinese yearn for a more tranquil yesteryear, much like residents in European hotspots Barcelona, Palma de Mallorca or Venice.In …
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