Page 4 - Asian Economy
Look West can't replace Act East
The European Union and the US are not ideal for us to get into a binding FTA
Rise of Asia will shift balance of global economic power by 2050: Nayyar
The rise of Asia represents the beginning of a shift in the balance of economic power in the world and some erosion in the political dominance of the West, he said
 "Rise of Asia will shift balance of global economic power by 2050: Nayyar")
India's role in Asia after RCEP
India's "no" to RCEP reflects one of the many opportunities it has missed to become a solid global manufacturing base
 "India's role in Asia after RCEP")
Asia on track to top 50% of world GDP by 2040, says McKinsey report
Continent to drive 40% of global consumption; As Chinese wages have risen, nations like Vietnam, India and Bangladesh have grown yearly exports of labour-intensive goods by 15%, 8% and 7% respectively
 "Asia on track to top 50% of world GDP by 2040, says McKinsey report")
Asian debt defaults likely to rise on shadow banking crackdown, rate hikes
China, India cited as main spots to watch for more nonpayments
 "Asian debt defaults likely to rise on shadow banking crackdown, rate hikes")
India's richest saw $21 bn vanish in 2018, Shanghvi lost $4.6 bn: Bloomberg
Global trade tensions and concerns that stock valuations are too frothy hammered some of the area's biggest fortunes
 "India's richest saw $21 bn vanish in 2018, Shanghvi lost $4.6 bn: Bloomberg")
Asia's central banks have little motivation to hike rates in 2019
The U.S. Federal Reserve on Wednesday raised rates for the fourth time this year, as expected, but signalled a slower pace of hikes in 2019 than it previously projected
 "Asia's central banks have little motivation to hike rates in 2019")
Asia to meet growth forecasts in 2018 and 2019 amid trade war risks: ADB
ADB also kept its 6.6 per cent and 6.3 per cent growth projections for China as well as its 7.3 per cent and 7.6 per cent growth expectations for India for both years
 "Asia to meet growth forecasts in 2018 and 2019 amid trade war risks: ADB")
Japan's rich have most cash in Asia, Chinese millionaires catching up
Indonesia showed a massive increase in total wealth held by HNWIs, to $661 billion from $184 billion in 2016
 "Japan's rich have most cash in Asia, Chinese millionaires catching up")
India among ten Asian economies to see robust GDP growth by 2030: Report
The report further said the demographic dividend that many Asian countries benefited from in the past may not be as valuable now
 "India among ten Asian economies to see robust GDP growth by 2030: Report")
Business confidence among Asian firms surges to 7-year-high, says survey
The index for sentiment in China increased to 88 from 83
 "Business confidence among Asian firms surges to 7-year-high, says survey")
Asian economy: China's war on smog, slowing PMI in Japan, India hit growth
Taiwan's October PMI came in at 53.6, easing from September but still the highest reading in Asia
 "Asian economy: China's war on smog, slowing PMI in Japan, India hit growth")
