Foreign direct investment (FDI) has played a significant role in Vietnam's economic growth, with billions of dollars pouring into the country over the past few decades, driving the development of industries and increasing exports, but challenges remain in terms of technology transfer and collaboration between foreign and domestic sectors.
Germany's ability to increase its payments to the EU budget is in doubt after a court ruling deemed the government's plan to repurpose emergency COVID-19 funds for its climate agenda unconstitutional, adding to concerns over the country's struggling economy and rising inflation.
India's GDP reportedly crossed the $4 trillion-mark, leading to celebrations and praise from BJP leaders, while Congress criticized the government's claim as "fake and bogus."
Thailand's economic growth in the third quarter of this year unexpectedly slowed due to weak exports, supporting the need for the government's planned $14 billion cash handout program.
Economist Gary Shilling warns of a potential 30% stock market drop, an impending recession, and a bubble in the commercial real estate market, predicting the Federal Reserve will tackle inflation and reduce interest rates, leading to a 40% overall decrease in stocks from peak to trough.
More financial assistance, conditioned on having a stable job, will be provided to lower-income families living in rental flats in Singapore as part of an enhanced version of the ComLink scheme, which also includes support for preschool education.
Africa's biggest economies, including Nigeria and Angola, are expected to keep interest rates high due to currency weakness and inflation, while other countries like South Africa, Morocco, Kenya, and Ghana are likely to maintain rates to assess inflation risks.
German producer prices fell in line with expectations in October, primarily due to a 27.9% yearly decline in energy prices, but excluding energy prices, prices were slightly higher than the previous year.
Asian stocks mostly rose as investors grow increasingly optimistic that the Federal Reserve is done with interest rate hikes, leading to a shift into riskier assets and expectations of rate cuts.
Despite tensions and challenges in the bilateral relationship, Japanese firms are still optimistic about investing and doing business in China, with many recognizing the opportunities and benefits of the Chinese market and its potential for growth.
Pakistan has received a $700 million tranche from the International Monetary Fund (IMF) as part of a $3 billion bailout package, but ordinary Pakistanis fear increased taxes, rising energy rates, and reduced development spending as conditions of the deal.
The removal of fuel subsidy and unification of foreign exchange rates in Nigeria has negatively impacted the operating environment and consumer market for businesses, leading to increased costs, job losses, and price hikes.
Javier Milei, a libertarian outsider, won Argentina's presidency by promising radical changes to fix the country's economic woes, including dollarizing the economy and cutting public spending, despite concerns over the potential consequences of such measures.
Japanese Finance Minister Sunichi Suzuki believes that now is a unique opportunity to overcome deflation and highlights positive signs in Japan's economy.
China-backed projects in Sri Lanka, including the Mattala Rajapaksa International Airport (MRIA), Hambantota International Port (HIP), and Port City Colombo (PCC), have been criticized for their lack of economic contribution, but analysts suggest that a free-trade agreement, policy revamp, and increased joint ventures could improve investor confidence and turn the tide.
The proposed 10,000-baht digital wallet handout in Thailand has faced criticism due to concerns about its impact on public debt, with the government projecting that debt will exceed 70% of GDP by 2027 if GDP growth remains low; opposition parties and economists question the urgency of the project, suggesting it may not stimulate economic growth as anticipated. Additionally, the borrowing bill for the handout comes at a time when the government is already spending large amounts on domestic energy price subsidies, further straining fiscal sustainability.
The digital wallet policy in Thailand is facing skepticism from analysts due to concerns over its impact on fiscal stability and public debt, with doubts raised about its ability to kick-start the economy and its potential long-term obligations for the state.
Big employers in Japan are expected to continue with substantial pay hikes in 2024, which could boost household spending and provide the necessary conditions for the central bank to roll back monetary stimulus, following this year's significant wage increases; this shift reflects a move away from deflation and towards inflation, and is driven by rising inflation, a tight labor market, and the need to retain talent.
The main focus for Asian markets on Monday will be China's interest rate decision, along with third-quarter GDP figures from Thailand and trade figures from Malaysia and Taiwan, as trading activity and volumes in Asia are expected to be lighter due to the U.S. Thanksgiving holiday later in the week.
The average monthly remittances from Indians to foreign banks and investments in debt and equity instruments doubled in September 2023, likely due to the impending deadline for higher taxes on overseas remittances.
New Zealand is ahead of Australia in terms of electric vehicle uptake and acceptance, thanks to the Clean Car Discount and Clean Car Standard schemes implemented by the outgoing Labour Government, while Australia is at risk of becoming a dumping ground for high-emission vehicles, according to a study by the Carbon Tracker Initiative. Australia and Turkey were the only OECD countries named as having weak or no targets to decarbonize passenger cars. As a result, New Zealand often sees priority in EV product launches and has a greater supply of EVs compared to Australia, driving down prices and increasing consumer choice.
The Indian government is expected to face a surplus of rice stock, more than twice the required buffer, due to robust paddy procurement and limited sales, prompting the need for measures to offload the grain and potentially allocate more foodgrain to the poor.
Canada's Finance Minister Chrystia Freeland will announce a fall fiscal update that includes measures to reduce the profitability of short-term rentals by disallowing property owners to claim rental expenses against the income they make, in an effort to address the country's housing shortage.
Mortgage rates, which had reached a 23-year high in October, are now falling, providing relief for homebuyers with rates closer to 7.4%, potentially dropping to 7% in the coming months and even 6% by spring.
The Philippines' debt-to-GDP ratio is at a manageable level and is not expected to impact the country's growth outlook, according to Finance Secretary Benjamin Diokno. The ratio is currently at 61 percent and is projected to continue decreasing, which is seen as favorable compared to other countries.
The Foreign Investors' Chamber of Commerce & Industry (Ficci) in Bangladesh has highlighted several factors hindering foreign direct investment (FDI) in the country, including trade, logistics, infrastructure, investment policy, and a lack of depth in the financial sector and tax environment. Ficci has called for taxation reforms and the implementation of 29 recommendations to enhance the investment climate and increase FDI. They believe that with effective taxation reforms, FDI in Bangladesh could reach $6.6 billion by 2025, $20 billion by 2031, and $50 billion by 2041.
The Philippine economy is experiencing sluggish growth due to weak consumer spending and exports, as well as a decline in investment. However, there is hope for improvement with lower inflation, potential interest rate cuts, and increased government spending. Nevertheless, risks such as high inflation and a poor global economic outlook remain, which may hinder the country's economic growth.
Job ads in Australia dropped 5% in October and are nearly 20% lower compared to last year, with hospitality and tourism experiencing the largest decline despite the upcoming peak summer holiday season.
Argentines head to the polls in a closely contested presidential runoff between Peronist Economy Minister Sergio Massa and radical libertarian outsider Javier Milei, both offering starkly different visions for the country's future amidst anger at economic crisis and rising poverty.
The third quarter earnings data for the Tadawul All Share Index in Saudi Arabia shows profit growth in non-oil sectors, particularly in banking, transportation, telecommunication services, and healthcare and equipment services, highlighting the Kingdom's push for economic diversification and its commitment to Vision 2030.
There is no official confirmation, but billionaire Gautam Adani, Union Ministers, and Maharashtra Deputy Chief Minister Devendra Fadnavis are among those who have hailed India crossing the $4 trillion mark in GDP, although highly placed sources claim that the viral news is incorrect.
Chancellor Jeremy Hunt and Rishi Sunak are claiming credit for the recent decrease in inflation, despite economists highlighting that it is mainly due to external factors such as falling global energy prices and rising interest rates, rather than government intervention.
France is planning to reduce government spending on office space and review unemployment benefits for seniors in order to decrease the state deficit, according to the country's budget and finance ministers. They aim to reduce the amount of office space occupied by the administration by 25% and may also consider real estate sales, while also seeking additional spending cuts and aiming to reduce deficits to 4.4% of GDP in 2024 and 3.7% in 2025.
US millennials are experiencing higher income growth than their British counterparts, as the US economy has grown and provided more favorable conditions for young people, while the UK has seen a decline in income for millennials since the financial crisis.
African governments are facing a shortage of hard currency, leading to currency devaluations and a lack of access to dollars for investors, creating a divide in investment opportunities on the continent.
More and more Indian entrepreneurs from Europe and the United States are returning to India due to its growing economy and abundant opportunities, according to Saurabh Srivastava, former NASSCOM chairman.
The rally in small-cap stocks is unlikely to be a lasting recovery, as the Russell 2000 Index faces challenges such as high debt costs and a potential economic downturn, making investors cautious in predicting a turning point despite the index's attractive valuations.
Despite negative public opinion and the challenge of improving the economy, Jeremy Hunt remains optimistic and hopes to win over voters before the upcoming election, although it is unlikely that the government will receive a not guilty verdict without significant economic improvements.
British finance minister Jeremy Hunt will not implement tax cuts that would push up inflation, ahead of a major budget update that is expected to contain reductions in some taxes.
Mark Spitznagel, chief investment officer of Universa Investments, warns that the United States is in the "greatest credit bubble of human history" which will lead to a major market crash in the next few years, urging investors to diversify their portfolios and prepare for the potential crash.
Renowned market prophet Gary Shilling warns that stocks could plummet by 30%, a recession is on the horizon, and commercial real estate is in a bubble that is about to burst, while predicting that the Federal Reserve will tackle inflation and begin cutting interest rates next year.
India's gross domestic product (GDP) may have surpassed $4 trillion, making it the fifth-largest economy in the world, according to unconfirmed reports on social media, while India's chief economic advisor believes the country could become a $7 trillion economy in the next seven years.
A couple is facing high monthly mortgage payments and is uncertain whether to sell their investments to pay off the loan or continue to hold onto them, fearing tax consequences and reduced liquidity; a financial advisor can offer guidance based on their specific circumstances. In another question, a person gets clarification on the tax consequences of gifting stocks to a family member, while the third question addresses the difference between divorced spousal benefits and divorced survivor benefits under Social Security.
Despite low inflation and a consistently low unemployment rate, polls show that most Americans have a negative view of the economy, with rising expenses and stagnant incomes contributing to their discontent. This poses a political challenge for President Joe Biden as he attempts to gain approval for his handling of the economy. The lingering effects of high inflation are believed to be a major factor in Americans' dissatisfaction, as prices for everyday goods and services remain significantly higher than pre-pandemic levels.
Moody's has changed the U.S. ratings outlook to "negative," but Treasury Secretary Janet Yellen disagrees, stating that the American economy is fundamentally strong and Treasury securities remain a safe asset.
Jeremy Hunt is considering changing how benefits are calculated, potentially reducing the increase by using October's inflation rate instead of September's, which could lead to a 4.6% increase instead of 6.7%. The Institute for Fiscal Studies warns that this could cut working-age benefits spending by £3 billion and have a long-term impact on people's incomes.
Labour's shadow chancellor, Rachel Reeves, has stated that the party would increase benefits according to the September inflation rate, believing it to be fair and avoiding a decrease in people's incomes.
The Federal Reserve's decision to pause rate hikes is expected to benefit the stock market and 401(k) investments, as historical data shows that the S&P 500 typically rises after the Fed's final rate increase; however, there are caveats, such as the possibility of additional rate increases and the impact of external forces on the market.
The U.S. housing market is experiencing a divide between existing homeowners and new buyers due to the prevalence of the 30-year fixed-rate mortgage, which allows homeowners to freeze their monthly loan payments and refinance if rates go down, while new buyers face higher borrowing costs and limited affordability. This unique feature contributes to inequality and a lack of supply in the market, resulting in a housing market that is frozen in place.
India has crossed the $4 trillion mark in terms of GDP for the first time, signaling progress towards its goal of a $5 trillion economy, and there is optimism that the country's GDP growth in the second quarter will surpass projections.