China braces for more defaults among state firms in 2021 — and that could be a good thing

A Chinese national flag seen in front of Oriental Pearl Tower in Shanghai on September 8, 2019. Alex Tai | SOPA Images | LightRocket via Getty Images SINGAPORE — Bond defaults by Chinese state-linked companies are set to continue into the new year, but analysts say that may be a good thing in the long … Read more

No ski resorts or fireworks but a lot of bubbles: How Europeans will spend Christmas this year

Children look at a window display at store on Regent Street in London. Hollie Adams | Getty Images News | Getty Images LONDON — There’s one thing that most people are agreed upon as the festive season approaches and the coronavirus pandemic continues: Christmas is not going to feel the same this year. Governments across … Read more

Trump’s tariffs could give Biden ‘leverage’ over China, former White House trade negotiator says

President Donald Trump’s trade tariffs have created “leverage” that the incoming Biden administration could use to get the outcomes it wants on the international stage, said former top White House trade negotiator Clete Willems. Trump slapped elevated tariffs on major trading partners such as China, Canada and the European Union for what he said were … Read more

Biden’s pick for foreign policy head affirms a push to get allies on board with U.S. policy on China

Deputy Secretary Antony Blinken chairs the Strategic Track Plenary Session during the seventh U.S. China Strategic and Economic Dialogue at the U.S. State Department in Washington DC, June 24, 2015. Chris Kleponis | AFP | Getty Images BEIJING — As names emerge for President-elect Joe Biden‘s Cabinet, the new U.S. administration looks intent on working … Read more

When will the world reach ‘herd immunity’? Citi weighs in

A sign on the entrance to a pharmacy reads “Covid-19 Vaccine Not Yet Available” in Burbank, California on Nov. 23, 2020. Robyn Beck | AFP | Getty Images SINGAPORE — With several Covid-19 vaccine candidates showing promising trial outcomes, investors and analysts have turned increasingly optimistic that the pandemic could soon come to an end. … Read more

Biden will likely have to reimagine the future of U.S. economic leadership in Asia, says expert

Shipping containers from China and other Asian countries are unloaded at the Port of Los Angeles as the trade war continues between China and the US, in Long Beach, California on September 14, 2019. – Mark Ralston | AFP | Getty Images SINGAPORE — The Biden administration will likely have to reimagine the future of … Read more

Credit stress hurts new money going into China’s massive infrastructure project, says Moody’s

SINGAPORE — Investments in China’s massive infrastructure project in 2020 could fall “well short” of last year’s level as the coronavirus pandemic caused financial strains in participating countries, according to Moody’s Investors Service. The Belt and Road Initiative is an ambitious Chinese policy that started out focusing on building infrastructure networks connecting China to central … Read more

Singapore’s economy is set to rebound in 2021 as third-quarter contraction slows

A man with a mask on taking a walk at Marina Bay Sands in Singapore’s central business district seen in the background on April 1, 2020. Suhaimi Abdullah | Getty Images SINGAPORE — Singapore’s economy contracted by 5.8% in the third quarter compared to a year ago — coming in better than initial estimates, the … Read more

Hong Kong looks to mainland China for the next air travel bubble

SINGAPORE — Hong Kong is hopeful its next “air travel bubble” could be with mainland China, the executive director of the city’s tourism board has said. Dane Cheng told CNBC such plans would hinge on the success of the forthcoming Hong Kong-Singapore travel corridor. But he noted that adding a similar arrangement for quarantine-free travel … Read more

Surging debt during the pandemic is creating dangers for investors and developed countries

A man wears a protective mask as he rides past the The People’s Bank of China in Beijing. Emmanuel Wong | Getty Images SINGAPORE — Risks for investors as well as developed economies are piling up with debt escalating during the coronavirus pandemic, a director at the Institute for International Finance (IIF) said on Friday. … Read more