When it was announced in 2023 that the African Union would become a full member of the G20, I darkly joked on a podcast that the AU’s entry into the body could very well mark the moment the G20 lost its status as one of the most important global coordination forums. Mark my words, I said, soon The Economist will be like “Uhhh, the G20 is OVER – it’s the ...
Category: Markets
Transsion, Africa’s Mobile Phone Powerhouse, Seeks Hong Kong Listing to Fuel Global Expansion
Shenzhen-based Transsion Holdings, the longtime dominant cell phone maker in Africa and other developing regions, filed an application last week with the Hong Kong Stock Exchange for a secondary listing. The company already trades on the tech-heavy Shanghai STAR market with ...
China EVs in Indonesia: Chery Tops September, Local Assembly Rises
The competition among China's EVs in Indonesia tightened in September. Indonesia’s automakers’ association, Gaikindo, announced that Chery tops September, BYD still leads the year, and the contest is shifting from imports to local assembly. Local assembly can cut taxes ...
Vietnam Now Second in Southeast Asia’s China-Led EV Market
China’s low-priced electric cars are powering Southeast Asia’s EV surge, and Vietnam has emerged as the region’s No. 2 market year-to-date on company-reported figures, closing on Thailand’s lead. The comparison is based on Vietnam’s total, which reflects VinFast deliveries, ...
Asian Stocks Mixed as Traders Shrug at U.S.-Vietnam Trade Deal
Stocks struggled in Asia on Thursday as investors gave a lukewarm reception to the U.S.-Vietnam trade deal, while the dollar eased ahead of key U.S. jobs data that could impact Federal Reserve interest rates plans. Attention was also on Washington as ...
Asian Markets Wobble as Trump-Xi Talks Offset by Musk Row
Asian markets stuttered Friday as optimism from "very positive" talks between presidents Donald Trump and Xi Jinping was wiped out by the stunning public row between the U.S. leader and Elon Musk. The much-anticipated discussions between the heads of the world's ...
Offshore Trading of China’s Currency Sinks to Historic Low, Presenting Yet Another Problem for Developing Countries
China’s offshore yuan fell to an all-time low against the U.S. dollar on Tuesday as trade tensions between the United States and China escalated after days of turmoil over tariffs. The offshore yuan, which is circulated outside mainland China and is ...
Indonesia Eyes U.S. Market Share from China and Others, Offers Trade Concessions to Trump’s Tariffs
Indonesia is moving quickly to convince Washington it’s not the problem — announcing trade concessions, cutting import duties on American goods, and signaling it’s open to buying more. All this was done to defuse tensions with U.S. tariffs about ...
China and the New World Trade War
U.S. President Donald Trump insisted on Monday that he will not back down from his massive tariff campaign that he launched last week and even promised to impose even higher duties on Chinese goods in response to Beijing's 34% tariff retaliation ...
“Ugly Monday” Kicks Off China’s Response to U.S. Tariffs
China’s stock market suffered the largest losses since 2022 as investors braced for the impact of China’s countermeasures to cumulative tariffs of more than 50% imposed by the Trump administration. Beijing announced 34% retaliatory tariffs on all U.S. imports on Friday. The announcement came during a long weekend ...
China’s Electric Vehicles Dominate Indonesia’s EV Market in January 2025
China’s electric vehicle (EV) brands continue expanding rapidly in Indonesia, with BYD and Chery leading the charge in January 2025. The latest sales data show Chinese Battery Electric Vehicles BEVs dominating the market, as demand for seven-seater and off-road ...
Chinese Brands Spark Rebound in SE Asia Smartphone Market
Canalys’ latest research reveals that Southeast Asia’s smartphone market rebounded in 2024, with vendors shipping 96.7 million units – up 11% year on year after two years of decline. OPPO led the market for the first time, capturing an 18% share ...
Most Asian Markets Rise After Trump AI Pledge but China Tariff Woes Return
Most Asian markets extended a global rally Wednesday as investors gave a cautious welcome to Donald Trump's first full day in office amid hopes he will take a more cautious approach on trade than initially feared. Software investment giant SoftBank soared ...