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  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/handlers/views_handler_argument.inc on line 745.
  • strict warning: Declaration of views_handler_filter::options_validate() should be compatible with views_handler::options_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/views_handler_filter.inc on line 589.
  • strict warning: Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/views_handler_filter.inc on line 589.
  • strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/modules/node/views_handler_filter_node_status.inc on line 14.
  • strict warning: Declaration of date_api_filter_handler::value_validate() should be compatible with views_handler_filter::value_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/date/includes/date_api_filter_handler.inc on line 578.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of uc_product_handler_field_price::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/uc_product_handler_field_price.inc on line 94.
  • strict warning: Declaration of uc_product_handler_field_weight::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/uc_product_handler_field_weight.inc on line 61.
  • strict warning: Declaration of views_handler_field_user::init() should be compatible with views_handler_field::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/modules/user/views_handler_field_user.inc on line 48.
  • strict warning: Declaration of semanticviews_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/semanticviews/semanticviews_plugin_style_default.inc on line 232.
  • strict warning: Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/views_plugin_row.inc on line 135.
  • strict warning: Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/views_plugin_row.inc on line 135.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • warning: Creating default object from empty value in /home1/finfacts/public_html/sites/all/modules/views/includes/handlers.inc on line 653.
  • strict warning: Declaration of views_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/views/plugins/views_plugin_style_default.inc on line 25.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
Asia

Asia

(February 2014) We're on an assignment in China this week and we will resume normal service on February 18.
(January 2014) China may introduce a tax on foreign exchange transactions to reduce speculative capital flows, according to a financial regulator.
(January 2014) Indonesia will have to get used to being a net importer of energy unless it can significantly increase oil and gas production, or do much more to exploit its extensive renewable resources.
(January 2014) China has announced that it will force a drastic shakeout of the solar cell industry by announcing that official support such as credit will only be available to 134 of an estimated 500 firms - - in a clear signal of official intent to address overcapacity in several industry sectors, which we have covered here* on Finfacts Premium (public subsidies for listed companies rose by 23% in 2012). Since 2000, total solar/ photovoltaics (PV) production has increased by almost two orders of magnitude, and over the last decade the CAGR (compound annual growth rate) has been about 55 %, which makes photovoltaics one of the fastest growing industries at present, according to the European Commission's 'PV Status Report 2013.' The most rapid growth in annual production over the last five years was observed in Asia, where China and Taiwan together now account for more than 70% of worldwide production. China accounts for over 80% of the European Union market and annual exports of over €20bn. It gave rise to the biggest EU-China trade dispute in 2013, which saw Germany and the UK take a softer line that the European Commission - - a position that triggered a scathing commentary last month from Philip Stephens of The Financial Times: "David Cameron could scarcely have crouched any lower during this week’s visit to China. For his compatriots, the British prime minister’s enthusiastic self-abasement was, well, embarrassing. It did not change anything. Before Mr Cameron had boarded his flight home China’s state-controlled media was characterising Britain as an insignificant relic, of passing interest to tourists and students. In so far as it might have served a broader purpose, the trip instead offered an excruciating example of the muddle of high-mindedness, mercantilism and subservience that often describes European responses to China’s rise." Stephens added a telling point: "The reality is that British companies will prosper only in so far as they have something to offer at the right price. Beijing, as I heard one senior European official remark this week, is not in the habit of rewarding weakness."
(December 2013) The Nikkei 225 rose for a ninth consecutive session Monday to close 0.7% higher on its final trading day of the year, bringing its full-year rise to 57%, the highest since 1972. Meanwhile, manufacturing sector output in December rose at the sharpest rate since 2006. The Nikkei Stock Average ended up 112.37 points, from Friday at 16,291.31, its highest close since Nov. 2, 2007. It was the index's ninth consecutive day of gains, its longest rally since July 2009. Last Friday, the key metric, core consumer prices, climbed 1.2% in November from a year earlier, accelerating to a new five-year high, government data has shown, marking steady progress towards beating 15 years of deflation. However, the economic policy of Shinzo Abe, Japan’s prime minister, known as Abenomics, which was launched after the general election a year ago this month, comprises three “arrows” - - monetary easing, fiscal stimulus and structural reforms - - and deflation will only be vanquished if all three arrows are fired by 2014 with workers given rises above inflation.
(December 2013) Myanmar's former capital, Yangon, known as Rangoon when Burma was part of the British Empire, boasts one of the most spectacular early-20th century urban landscapes in Asia. A century ago the country's former capital was one of the world's great trading cities and the legacy of that cosmopolitan past remains today. But as the country undergoes economic change, this unique heritage is under threat. Decades of neglect have left once grand buildings a crumbling mess and they are at grave risk of being demolished in favour of hastily built towers and condominiums.
(December 2013) For the first time in 37 years, an Earth power has landed a spacecraft on the moon. Also in recent days, China announced more pressing priorities for 2014 with commitments to reduce excess industrial capacity and curb local government debt.
(December 2013) Australia: After 22 years of continuous growth, the Australian economy is facing headwinds with the slowing of the mining industry as demand from China eases while the manufacturing sector, which has been buffeted by a high Aussie dollar for years, also struggles. On Wednesday, General Motors said it will pull out of manufacturing in Australia by four years' time, with the loss of 2,900 jobs and Toyota is demanding agreement by Friday on a cost-cutting package as it incurs "an additional cost of manufacturing in Australia of A$2,800 a vehicle." GM's local brand 'Holden' had recently made an average profit of A$50m a year, while receiving an average A$180m of support in various forms from Australian taxpayers and the industry directly employs 50,000 people while economists have estimated that 90,000 in total would lose their jobs if manufacturing was to end.
(December 2013) China's R&D spending overtook Japan a few years ago and is expected to overtake Europe's 34 countries five years from now. The quality of China's research output including both publications and patent filings is judged to have improved dramatically in the past decade.
(December 2013) Shinzo Abe, Japan's prime minister, wants Japan's companies to raise workers' pay to boost the chances of defeating 15-years of deflation and raising inflation to an annual 2% rate. The broad-based Topix index is up 44% 2013, heading for its biggest annual gain since 1999. The Nikkei 225 Stock Average is at its highest since December 2007. But regular wages excluding overtime and bonuses dropped 0.4% in October from a year earlier, a 17th straight monthly decline, the labour ministry said this week. Also this week, Bloomberg reported that the Bank of Japan’s unprecedented monetary easing will fail in its goal of achieving its 2% inflation target, according to Takahiro Mitani, president of the fund that manages the world’s largest pool of pension savings. While Japan is making progress toward ending deflation, consumer-price gains will probably stay between 0.1% and 1%, said Mitani, the head of the ¥124tn ($1.21tn) Government Pension Investment Fund. The fund may revise asset allocations in as little as a year after a government-appointed panel recommended a review of domestic bond holdings, he said. It’s been 22 years since annual inflation in Japan exceeded 2%, according to data compiled by Bloomberg. Consumer prices excluding fresh food, the Bank of Japan's (BOJ) gauge for its target, increased 0.9% in October from a year earlier, government figures showed November 29. A gauge of prices that also excludes energy rose 0.3%.