EconoMonitor

Economics Blog Aggregator

    Asia

  • Ajay Shah's blog

    4 task forces setup by MOF to build institutional capabilities for FSLRC

    FSLRC's institutional architecture The draft Indian Financial Code (IFC) envisages seven financial agencies outside the Ministry of Finance: Financial Sector Appellate Tribunal (FSAT): An improved version of the existing Securities Appellate Tribunal which will hear appeals all across the financial system. Public Debt Management Agency (PDMA): The investment banker for the government. Financial Redress Agency (FRA): The one-stop shop where any individual goes to raise a complaint about a financial service provider, where the difficulty was first raised with the financial service provider but not satisfactorily resolved according to the consumer. Resolution Corporation (RC): A specialised organisation that will handle distress in certain kinds of financial firm...more

    Link ›

  • East Asia Forum

    Aquino’s reformism hits a dead end

    Author: Mark R. Thompson, City University of Hong Kong Unlike his scandal-plagued predecessor Gloria Macapagal-Arroyo — who left office as the most unpopular post-Marcos president — it has long seemed that Benigno S. ‘Noynoy’ Aquino III, could do no wrong. Aquino promised to take the ‘straight path’ (matuwid na daan) to clean up corruption. This, he said, would also eradicate poverty. Aquino’s reforms were, at first, very successful. Economic growth accelerated to the highest among ASEAN nations. Corrupt politicians were held accountable — Arroyo was charged with plunder while Aquino’s congressional allies removed Supreme Court Chief Justice Renato Corona, a ‘midnight’ Arroyo appointee accused of obstructing Aquino’s anti-corruption drive. More p...more

    Link ›

  • Health Intel Asia

    Thinking Strategically About International Markets for Aged Care

    Link ›

  • East Asia Forum

    Cutting off Australia’s international television arm

    Author: Ross Tapsell, ANU What does the Australia Network’s closure and the launch of Sky News’ Australia Channel mean for Australian soft power? Since their inception, Australia’s international media organisations have trodden a fine line between promoting Australia’s interests in the Asia Pacific region and upholding the values of the Fourth Estate which sees critical reporting of government as central to its role. Initially, this debate surrounded the role of Radio Australia, which was established by the Australian government during WWII as a broadcasting service aimed at countering enemy propaganda, but by 1950, responsibility for Radio Australia was returned to the Australian Broadcasting Corporation (ABC) and declared free from government control. Yet, in...more

    Link ›

  • East Asia Forum

    The two faces of Thai authoritarianism

    Author: Thitinan Pongsudhirak Thai politics has completed a dramatic turn from electoral authoritarianism under deposed premier Thaksin Shinawatra in 2001–2006 to a virtual military government under General Prayuth Chan-ocha. These two sides of the authoritarian coin, electoral and military, represent Thailand’s painful learning curve. The most daunting challenge for the country is not to choose one or the other but to create a hybrid that combines electoral sources of legitimacy for democratic rule and some measure of moral authority and integrity often lacked by elected officials. A decade ago, Thaksin was practically unchallenged in Thailand. He had earlier squeaked through an assets concealment trial on a narrow and questionable vote after nearly winning a majo...more

    Link ›

  • Health Intel Asia

    Telemedicine in China – New Basic Rules to Ponder

    Link ›

  • China Matters

    From Xinjiang to Hong Kong, the PRC Reaps the Bitter Fruits of Alienation

    It’s becoming easier to understand why the PRC landed on Ilham Tohti, the Uyghur “public intellectual” like a ton of bricks.Judging from the admittedly selective excerpts used at the kangaroo court to damn him to “indefinite detention”, reported perhaps not inaccurately in the West as a “life sentence”, Ilham hoped to use his bully pulpit at a Xinjiang university to nurture a cadre of students with a strong sense of Uyghur identity, alienated from the PRC regime, and convinced of the right and need to agitate for greater Xinjiang autonomy in the face of an alien occupying power.Then, perhaps, Xinjiang politics would have evolved into the politics of perpetual, continually aggravated, and burgeoning grievance and ever-more-entrenched spirit of resistance t...more

    Link ›

  • Michael Pettis' CHINA FINANCIAL MARKETS

    How much longer can the global trading system last?

    My last blog entry inspired an old Brazilian friend of mine, with whom I hadn’t had any contact for years, to comment on this section of the interview: It seems to me that the US is becoming increasingly isolationist, largely because it is increasingly uncertain that the benefits to the US of a US-dominated world order still exceed the costs. When the US comprised a much larger share of the “globalized” part of the world, it retained a greater share of the benefits of a stable trading environment and it cost less to maintain that environment. As the US becomes a declining share of the globalized world, the costs of imposing stability (and I have no illusions that this is done for charity) rise, and its share of the benefits decline. It is only a matter of arithmet...more

    Link ›

  • Atanu Dey On India's Development

    Hayek on Valuing Individuals

    “A society that does not recognise that each individual has values of his own which he is entitled to follow can have no respect for the dignity of the individual and cannot really know freedom.” Friedrich August von Hayek (1899 – 1992). Austrian economist. ...more

    Link ›

  • North Korean Economy Watch

    DPRK Foreign Minister Ri visits UN

    UPDATE 1 (2014-9-27): Martyn Williams has posted video (translated into English) of Minister Ri’s full speech. ORIGINAL POST (2014-8-30): According to KBS: North Korea̵7;s Foreign Minister Ri Su Yong is scheduled to visit the United States in mid-September for a United Nations general assembly in New York. This marks the first time a North Korean foreign minister will visit the U.S. in 15 years. Sources have said Ri has personally requested to make a keynote address at the session as a state representative. The last time a North Korean foreign minister was present for a United Nations general assembly was in 1999 when Paek Nam Sun held the position. In 1992, Kim Yong Nam had visited the U. S. to attend the session. As these were the only occasions a high-ran...more

    Link ›

  • Ajay Shah's blog

    Hierarchy of thinking about politics and the state

    Level 0: Indifference "Politics: What's that? Gimme my beer." Level 1: Naivete "For every problem there is an equal and opposite NGO" or "Let's pick monetary policy by referendum" or "My favourite government program is the answer". Level 2: Cynicism "Politics is hopeless. Gimme my beer." Level 3: The Great Man Theory "If only Baba Hazare were the Commissioner of Police, torture by the police would come to an end". Level 4: Small steps "Civil servants should come to work on time" Level 5: Fundamental reform "Rewrite laws, redesign organisations, establish accountability". ...more

    Link ›

  • North Korean Economy Watch

    North Korea’s donor fatigue

    The Wall Street Journal reports on the difficulties the UN World Food Program faces trying to find supporters for its operations in North Korea: The United Nations aid program for malnourished North Koreans may close after raising only a fraction of the money it needs to operate in the country, a senior U.N. official said in a call for donations. “We may need to scale down or think about closing altogether,” Dierk Stegen, the Pyongyang-based North Korea head for the U.N. World Food Program, said in an interview. The agency, which has operated in North Korea since 1995, could shut early next year if there is no indication it will be able to raise needed funds by the end of October, he said. One complication is that North Korea’s humanitarian crisis has...more

    Link ›

  • China Matters

    Saudi Arabia Switches to Plan B for IS and Syria

    From my ever interesting and amusing twitter feed @chinahand, with some minor edits:China Matters crystal ball tells me: 1) Kingdom of Saudi Arabia is switching from jihadi strategy to great power negotiations in response to IS fiasco2) KSA is saying, "OK, we'll help clean up our IS mess, but Assad's gotta go. Syria's a natural pickup for the Sunni side and belongs in KSA's sphere of influence.” 3) KSA's half-assed jihadi anarchy strategy for Syrian regime change has failed. Time for Plan B.4) As long as Assad getting billions in financial support, military assistance from Iran, he's not going anywhere. If Iran cuts off aid to Assad, he'll be out on the first plane to Moscow or wherever. 5) So I believe KSA is offering Iran peaceful coexistence in ME i...more

    Link ›

  • North Korean Economy Watch

    Second session of 13th Supreme People’s Assembly

    UPDATE 2 (2014-9-25): Kim Jong-un did not attend the SPA meeting. According to the Wall Street Journal: North Korea’s young leader wasn’t in his customary seat as the country convened its rubber-stamp parliament Thursday, adding to South Korean media speculation that Kim Jong Un may be ill. Only part of the meeting of the Supreme People’s Assembly was shown on state TV, but Mr. Kim wasn’t present and apparently missed the meeting for the first time since he took power after the death of his father Kim Jong Il in December 2011, according to an official for the South’s Unification Ministry who spoke on condition of anonymity because of office rules. The usually ubiquitous Mr. Kim, the third member of his family to rule the country, hasn̵...more

    Link ›

  • Atanu Dey On India's Development

    Mr Modi goes to Washington

    I make no secret of the fact that I believe Shri Narendra Modi, the prime minister of India, is an honest, intelligent, dedicated, sincere and diligent man. I admire him immensely for who he is and what he has accomplished over his many decades as a politician. The set P = {p | famous politician p is honest, intelligent, dedicated, sincere, diligent} is small but non-empty. For all I know, the set P is exhaustively enumerated as P = {Narendra Modi, Arun Shourie}. But at the very least, I am certain that {Narendra Modi, Arun Shourie} ⊂ P. I indulge myself in the frivolity of using set-theoretic notations at the start of this piece only because I have a few serious points to make. Modi, a man of substance Shri Modi is also a very practical man, a realist, not some airh...more

    Link ›

  • Health Intel Asia

    Are there good public hospital assets to be bought in China?

    Link ›

  • China Matters

    The Meaning of Ilham Tohti’s Life Sentence

    Ilham Tohti, an economist and professor in Urumqi, is an advocate of Uyghur rights in Xinjiang.  He certainly did not deserve the life sentence he just received from the PRC for “advocating separatism”, not only because he was a distinctly non-violent working in the system type of guy, but also because he doesn’t advocate Xinjiang separatism.  Just the opposite, in fact.  Which, in the topsy-turvy world of PRC justice, is probably the reason why he got his life sentence.The drift of Ilham Tohti’s views—and the reason for the draconian sentence—are quite evident in interviews that Ian Johnson collected and compiled into an article for the New York Review of Books on the occasion of the court’s decision.Johnson characterizes his interlocutors...more

    Link ›

  • Ajay Shah's blog

    User rights as a novel instrument for infrastructure financing

    by S. Ramann and Manish K. Singh. An issue on the front burner for the Government today is how to raise financing for the trillion dollars of infrastructure investment required in India. The banking system is facing significant stress, and cannot finance the second wave of investment in infrastructure as it did with the first wave from 2002 to 2012. In this discourse, so far, the main strategy that has been emphasised is the development of the corporate bond market, which includes setting up trading infrastructure, removing capital controls, removing taxation of non-residents, removing barriers against currency derivatives, etc. We would like to propose one additional element that could help infrastructure financing. We go back to infrastructure f...more

    Link ›

  • Michael Pettis' CHINA FINANCIAL MARKETS

    “…not with a bang but a whimper”

    Doug, Pancoast, an American entrepreneur living in Shanghai, asked to interview me for his blog, and I agreed to do so. I think it was meant to be a brief interview, but I began to respond on a Saturday evening, while waiting for the performance at my club to begin (my office is at my CD label, just upstairs from my music club), and as the performance started late and the questions were interesting and covered a lot of ground, I ended up writing quite a lot. I thought I might reproduce the interview on my blog, not so much for the interview itself, which you can anyway find elsewhere, but because I decided that I could significantly add to the responses (they are twice as long as the original interview) with a lot of examples and with historical material that I find ver...more

    Link ›

  • Atanu Dey On India's Development

    Geert Wilders: “War Has Been Declared against Us”

    Well, what do you know! Amazing things are happening around the world. One of the more positive developments has been that of the Islamic State (formerly known as the ISIS) showing up and demonstrating to the world what “peace” means in the “Religion of Peace.(™)” They are the poster boys of Islam, arguing against the left-lib-tards (that’s the short form for “leftist liberal retards”) who keep on insisting that Islam is a religion of peace. (I read this somewhere: If someone declares that they love you, ask for proof; if someone says that they wish to kill you, believe them and get away quickly.) In every case of Islamic terrorism, the perpetrators loudly proclaim Allahu-akbar and declare that they are following Islam’...more

    Link ›

  • Michael Pettis' CHINA FINANCIAL MARKETS

    What does a “good” Chinese adjustment look like?

    I have always thought that the soft landing/hard landing debate wholly misses the point when it comes to China’s economic prospects. It confuses the kinds of market-based adjustments we are likely to see in the US or Europe with the much more controlled process we see in China. Instead of a hard landing or a soft landing, the Chinese economy faces two very different options, and these will be largely determined by the policies Beijing chooses over the next two years. Beijing can manage a rapidly declining pace of credit creation, which must inevitably result in much slower although healthier GDP growth. Or Beijing can allow enough credit growth to prevent a further slowdown but, once the perpetual rolling-over of bad loans absorbs most of the country’s loan creatio...more

    Link ›

  • The Peking Duck

    Is Falung Gong a dangerous cult? Is it a cult at all?

    I’ll admit it right at the beginning: I’ve always found there to be something creepy about the Falun Gong. I remember seeing practitioners in Taipei sitting with their eyes closed meditating endlessly. I remember their anti-CCP literature. I remember meeting a group of practitioners at the local annual China celebration day in Phoenix and finding them generally icky. But just because I find them creepy doesn’t mean they are a cult, let alone a dangerous one. This excellent article presents the argument of one of the best informed China Hands I’ve ever read, Ian Johnson, who argues that the FG is not a cult. In “Wild Grass: Three Portraits of Change in Modern China,” Ian Johnson writes that the “cult” label was designed to “[cl...more

    Link ›

  • All Roads Lead to China

    Foxconn Moving Direct to Consumer

    I remember having conversations years ago about what Foxconn would do going forward, and whether or not they would be happy as the manufacturer to brands.   The WSJ article, Amid Margin Squeeze, Foxconn Designs Its Own Fate, puts this question to rest. Recently, the $130-billion-a-year in revenue company has ventured into handset accessories under its own brand, and sales and distribution of mobile phones. It also plans to offer telecommunications services in Taiwan. For me, this has always been a bit of a no brainer.  Foxconn has an amazing amount of talent in the firm that is not just managing the supply chain and assembling gadgets for their customer, but have for years also been bringing designs to the brands that they feel would sell well in the market. Partner ...more

    Link ›

  • All Roads Lead to China

    Bites of China. Finally a Show Worth Watching!

    A couple of weeks back, while riding the G train back from Nanjing, something caught my eye.  An advertisement by CCTV for what I believe could be one of the best produced shows China has put together.  At first, I had no idea what the advertisement for, but what was clear was that it was celebrating the various food flavors of China, and those who are tilling the fields and preparing the dishes. The show is called Bite of China, and I cannot recommend it enough. Sure, China is known for its fair share of food failures, including recycled oil, but watching this show has restored a bit of my love for the flavors here.  Flavors that were actually the basis for one of my earliest posts, and have provided a never ending hunt for me and my wife as we look to try new thin...more

    Link ›

  • The Peking Duck

    Twenty-five years later

    I never before saw all the raw video footage of “Tank Man’s” defiance against a column of army tanks until today. It is remarkable, how one nameless man entered all of our living rooms for just a moment and is remembered so vividly a quarter of a century later. And for good reason. Let’s keep the hundreds of murdered innocents in our thoughts today, and keep alive the fight to let the Chinese people know all who died during the crackdown. Let’s remember the Tiananmen Mothers, and let’s even hope for the day when the CCP admits the demonstrations were not an act of “counterrevolutionary” treachery inspired by foreign subversives, but an expression of the Chinese people’s yearning for a say in their government, for t...more

    Link ›

  • The Peking Duck

    Return of Liu Di, the “Stainless Steel Mouse”

    Those of you who have been reading this blog for ten years or more (if any such reader exists) might remember an array of posts I wrote in 2004 regarding a “cyberdissident221; Liu Di, who posted pro-democracy essays on the Internet under the moniker Stainless Steel Mouse. Posts like this or this, and several more. She also participated in study groups that discussed freedom and government reform, and saw herself and her colleagues arrested. I remember how angry I felt when another cyberdissident who lobbied for her release was himself arrested. Still, she has never been silenced. Even as recently as last month she was taken into custody for participating in a seminar about June 4th. A reader brought to my attention the availability of three of Liu Di’s n...more

    Link ›

  • All Roads Lead to China

    What Do China’s Millennials Want ?

    For a number of years, I had it pretty good.  I had a number of teams that were under me, were stable, and were producing.  It was at a time when a lot of questions were being asked about the post 80s generation in China, but for whatever reason I was immune. But, those days are over, and just yesterday I had another millennial go AWOL on me.  So, it was perhaps interesting timing that CNBC put up the article Millennials may be more like boomers than we realize highlighting how several studies point to a generation that is looking for meaning in their job, in their company, and for balance: A new study from Deloitte also found differences in workplace attitudes between millennials and older generations, saying that the former “want to work for organizations tha...more

    Link ›

  • China Rises: Notes from the Middle Kingdom

    Postcards from the National People's Congress

    Link ›

  • Patrick Chovanec

    Twins!

    Link ›

  • ChinaBizGov

    China's Green Car Sales in 2012

    Just a few years ago, pretty much everyone (except Chinese auto industry insiders whom I interviewed) thought China was about to take ownership of the global green car market. (Here's just one example from the excitable Tom Friedman of the New York Times.)In 2009 China's industrial planners announced plans to have 500,000 green cars ("New Energy Vehicles" or "新能源汽车" -- a combination of electrics and hybrids) on Chinese roads by the end of 2011. That obviously didn't happen, so last year, that same target of 500,000 was pushed out to 2015.So how did green car sales fare in 2012? Overall, hybrids plus electrics grew a respectable 52 percent.So while sales grew pretty well in percentage terms, it is clear that overall numbers are still inconsequential when you co...more

    Link ›

  • Patrick Chovanec

    What Causes Revolutions?

    Link ›

  • Patrick Chovanec

    Enter the New Year

    Link ›

  • China Rises: Notes from the Middle Kingdom

    China, school violence and official reaction

    I wrote yesterday about growing questions in China about the differences between the U.S. reaction to the tragedy in Newtown and that of the tragedy in Henan Province, where, on the same say as the shooting in Connecticut, a man stabbed and slashed 23 students at a primary school. (All survived in Henan, where the weapon was a knife, not an AR-15.) As a commentary piece in the state-controlled Global Times noted: “The Chinese public has focused on the slow official response and the level of social reflection. Many are furious that while the Americans have started mourning nationwide, the Chinese appear insensitive to the Henan case.” Another story today, carried by China Daily, caught my attention. It describes an example of how profoundly off-key propaganda can ...more

    Link ›

  • China Rises: Notes from the Middle Kingdom

    Postcard from a snowy Beijing

    The smell of roasting sweet potatoes in a city covered with snow put me in the mood to take a detour on my walk to work today  ...

    Link ›

  • ChinaBizGov

    Comparing Corruption in China and the US

    Today's WSJ China Realtime reports on a study by a George Mason University economist who attempts to compare corruption in the US and China.  His conclusion is that corruption in America's Gilded Age (1877-1893)* was worse than corruption in China today.Perhaps the conclusion is correct, but the methodology used by this professor is flawed.  US corruption is measured by mentions of corruption in US newspapers 1870-1930.  China corruption is measured by mentions of corruption in US (not Chinese!) newspapers 1990-2011.So he is measuring corruption in two countries by the number of times the newspapers of only one of the countries mentions the word.  Even if the researcher had used Chinese newspapers, the study still would have been flawed due to Commun...more

    Link ›

  • ChinaBizGov

    GM and SAIC: Trouble in Paradise?

    General Motors (GM) and Shanghai Auto (SAIC) announced in December of 2009 that they were deepening their partnership beyond their joint venture in China.  Together they created a 50:50 joint venture, registered in Hong Kong, for expansion outside of China.  Now that partnership appears to be coming apart.Initially, the plan for the HK JV was for the two sides to work together in India and possibly elsewhere in the future.  (For further insight into this particular deal, please see Chapter 4 of Designated Drivers.) As for the India venture, GM would contribute two existing factories in India, along with its Chevrolet brand, and SAIC would contribute cash -- something that GM had been seriously lacking as it had emerged from bankruptcy earlier that same ye...more

    Link ›


Most Read | Featured | Popular

Blogger Spotlight

Otaviano Canuto

Otaviano Canuto is Senior Advisor on BRICS Economies in the Development Economics Department, World Bank, a new position established by President Kim to bring a fresh research focus to this increasingly critical area. He also has an extensive academic background, serving as Professor of Economics at the University of Sao Paulo and University of Campinas (UNICAMP) in Brazil.

Economics Blog Aggregator

Our favorite economics blogs aggregated.