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AidData's new dataset of 13,427 Chinese development projects worth $843 billion reveals major increase in 'hidden debt' and Belt and Road Initiative implementation problems
September 29, 2021--The analysis, based on a massive new dataset four years in the making, includes a special focus on China's Belt and Road Initiative (BRI).
AidData, an international development research lab based at William & Mary's Global Research Institute, today released a trove of new findings about China's secretive overseas development finance program. The analysis, based on a massive new dataset four years in the making, includes a special focus on China’s Belt and Road Initiative (BRI).
It comes at a time when the U.S. and its allies are seeking to develop a viable alternative to the BRI through the Build Back Better World (B3W) initiative, announced at the G7 summit in June 2021.
The AidData report, Banking on the Belt and Road, offers a bird's-eye view of China's geo-economic strategy before and after the introduction of the BRI in 2013. It details how spending patterns, debt levels, and project implementation problems have changed over time, leveraging insights from a uniquely granular dataset that captures 13,427 projects across 165 countries worth $843 billion. These projects were financed by more than 300 Chinese government institutions and state-owned entities. The new 2.0 Global Chinese Development Finance Dataset covers projects approved between 2000 and 2017 and implemented between 2000 and 2021. It is the most comprehensive dataset of its kind.
view the Banking on the Belt and Road: Insights from a new global dataset of 13,427 Chinese development projects report
Source: aiddata.org
Vietnam: Adapting to An Aging Society
September 28, 2021--Vietnam is a young country on the cusp of a dramatic aging of the population that is taking place at a faster pace and at an earlier level of development than most other countries in the world. Though Vietnam's favorable demographic window of opportunity is still open, this report argues it should take key actions with immediate effect to prepare for a rapidly aging society.
Vietnam has achieved vibrant economic growth and poverty reduction over the past few decades, thanks in large part to favorable demographic trends along with strong productivity growth. Growth and poverty reduction have been broad based to-date, and between 2010 to 2016, older generations benefited the most relative to the other age groups from poverty reduction. Increased productivity and labor force participation can help to mitigate the adverse impacts of a shrinking working-age population. Evidence suggest Vietnam's youth are already investing more in human capital than their elders. Encouraging people to continue working even when they grow older can also help compensate for the shrinking labor force.
view the info graphic-Vietnam: Adapting to An Aging Society
Source: worldbank.org
Economic Recovery in East Asia and Pacific Faces Setback
September 27, 2021--The East Asia and Pacific region's recovery has been undermined by the spread of the COVID-19 Delta variant, prolonging the distress for firms and households, likely slowing economic growth and increasing inequality, the World Bank said on Monday.
Economic activity began to slow down in the second quarter of 2021, and growth forecasts have been downgraded for most countries in the region, according to the World Bank's East Asia and Pacific Fall 2021 Economic Update.
While China's economy is projected to expand by 8.5%, the rest of the region is forecast to grow at 2.5%, nearly 2 percentage points less than forecast in April 2021. Employment rates and labor force participation have dropped, and as many as 24 million people will not be able to escape poverty in 2021.
view the World Bank-s East Asia and Pacific Fall 2021 Economic Update Long Covid
Source: worldbank.org
China's top regulators ban crypto trading and mining, sending bitcoin tumbling
September 24, 2021--China intensifies crypto crackdown
Vows to root out "illegal" trading activity, bans mining
Bitcoin, smaller coins slump
China's most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks.
Ten agencies, including the central bank, financial, securities and foreign exchange regulators, vowed to work together to root out "illegal" cryptocurrency activity, the first time the Beijing-based regulators have joined forces to explicitly ban all cryptocurrency-related activity.
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Source: reuters.com
IMF-Australia: Staff Concluding Statement of the 2021 Article IV Discussions
September 23, 2021--Following swift economic recovery from COVID-related lockdowns in 2020, new outbreaks set back economic activity in the near term, posing fresh challenges. Recent progress in the vaccination campaign offers a pathway out of lockdowns starting in the December quarter and will enable an ensuing economic recovery.
Supportive and well-coordinated fiscal and monetary policies soften the near-term economic impact and lay the foundation for post-lockdown recovery. Fiscal and monetary support should stay nimble amid very high uncertainty, and additional stimulus should be provided if downside risks materialize.
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Source: SEC.gov
Asia's Climate Emergency-Fiscal policy can help address climate change in Asia, the region hit hardest by global warming
September 21, 2021--Climate change is the defining challenge of our time, and the stakes are particularly high for the Asia-Pacific region. Temperatures are rising two times faster in Asia than the global average, which is associated with the increased frequency and severity of weather-related natural disasters.
In 2019 alone, India was buffeted by a severe heat wave that led to water scarcity in parts of the country. Torrential rains in South Asia caused large-scale population displacement, while water levels in the Mekong Delta fell to unprecedented lows due to intense dry weather. Australia faced historic bushfires fueled by a particularly harsh dry season. And more than 25 tropical cyclones wreaked damage on the Pacific and Indian Ocean coasts. Such climate hazards are projected to intensify in the period ahead.
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Source: IMF
AIX launches 2 ETNs based on its new AIX Qazaq Index
September 20, 2021--Astana International Exchange ("AIX", "Exchange") in cooperation with Halyk Finance JSC ("Halyk Finance") is pleased to announce the listing of two new exchange-traded notes linked to its brand-new AIX Qazaq Index (AIXQI):
Qazaq Equity Passive ETN-exchange traded note with a passive investment approach, investing substantially all its assets in Kazakhstani equities in weights determined by AIX Qazaq Index; and,
Qazaq Equity Active ETN-actively managed investment vehicle intended to outperform the AIXQI by taking the momentum and adopting an opportunistic approach.
Halyk Finance is acting as the Investment Manager for both ETNs, bringing its recognized experience in investment management and promoting ETNs among its extensive clientele.
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Source: Astana International Exchange
BetaShares Australian ETF Review-August 2021: The Equities Party Continues, as the Industry Reaches New Highs
September 15, 2021--The Australian ETF industry passed a significant new milestone in August and is now over $125B in funds under management, as the 'triple threat' of sharemarket gains, robust inflows and active ETF conversions led to rapid growth for the month.
Market cap
ASX Exchange Traded Product market cap: $125.1B1-all time end-of-month high
Market cap change for month: 5.3%, $6.3B
Market cap growth for the last 12 months: 76.9%, + $54.4B- fastest yearly growth ($ terms) on record
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Source: BetaShares
How to Tax in Asia's Digital Age
September 14, 2021-New global reforms will change where tech giants pay taxes in Asia and make the international tax system more robust.
Digitalization-the technology that powers fintech, e-commerce, and online services-enables us to make mobile money transfers, purchase goods and services online, and interact with people across the globe. It has created some of the largest global businesses, such as online platforms and marketplaces connecting producers and consumers across the world.
Asia alone has roughly two billion internet users, with considerable room to grow. Asia's advanced and emerging market economies have several locally headquartered tech giants-including Alibaba, JD.com, Tencent, Rakuten-and host foreign tech giants such as Facebook. A new set of agreed global tax reforms will change where these tech giants and other global giants pay taxes.
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Source: IMF
Taking the lead on climate action could be worth $11 trillion to India
September 13, 2021--Climate change is already impacting people's lives and livelihoods in India.
Left unchecked, people will be under even greater threat and the economy could lose $35 trillion by 2070, according to Deloitte.
But if India leads the way with climate action, it could gain $11 trillion in economic value.
India already produces advanced climate solutions, which it could export to the rest of the world.
India can lead the way on climate action and prosper, or do nothing and "impose steep economic costs"-as well as the continuing human and environmental cost-on the country, according to a new report.
Leaving climate change unchecked could cost India $35 trillion in lost economic potential over the next 50 years, finds the Deloitte Economics Institute in its report, India's turning point: How climate action can drive our economic future.
view the Deloitte Economics Institute report-India's turning point: How climate action can drive our economic future
Source: weforum.org