US economic growth slowed in the second quarter amid a widening in the trade deficit, but an acceleration in consumer spending and robust business investment in equipment related to the buildout of artificial intelligence infrastructure pointed to underlying strength. Gross domestic product increased at a 1.5 per cent annualised rate last quarter, the Commerce Department’s Bureau of Economic Analysis said in its advance estimate of second-quarter GDP on Thursday. Economists polled by Reuters...
Hong Kong’s export surge will extend into the coming months, driven by the global AI boom, economists have told the South China Morning Post, adding that gross domestic product (GDP) growth could surpass official forecasts. Billy Mak Sui-choi, an associate professor at Baptist University’s accountancy, economics and finance department, said global demand for artificial intelligence (AI) remained far from saturated and would continue to drive exports. “No single country has yet been able to...
Singapore’s economic growth should remain firm in the second half of 2026 although a major uncertainty is the sustainability of the AI investment boom, the head of its central bank said on Tuesday. Monetary Authority of Singapore (MAS) Managing Director Chia Der Jiun, speaking at the release of the central bank’s annual report, said the Middle East conflict also posed risks, but for now global AI-related demand was “likely to continue to provide a meaningful boost” to the city state while other...
In the first half of this year, leisure travel within China exploded. As the summer travel season builds towards the Mid-Autumn Festival and the “golden week” that follows National Day on October 1, domestic travel has emerged as one of China’s most important, if underappreciated, drivers of consumption and growth. During the extended Chinese New Year holiday, travel and consumer spending boomed. Domestic trips jumped to 596 million and spending surpassed 803 billion yuan (US$118.13 billion),...
Japan has found a new export industry and it doesn’t come off an assembly line. It arrives by plane, spends freely and is, increasingly, what Tokyo is banking its economic future on. Last year, 42.7 million foreign visitors arrived in the country, a record that shattered the previous year’s high by nearly 16 per cent. Now Tokyo wants to turn that surge into something more lasting: a permanent pillar of growth to rival, or even outlast, the industries that built modern Japan. To achieve that...
“Risks from global trade fragmentation, geo-political tensions and external financial market volatility warrant continued vigilance and prudent risk management across the sector,” said Sashidhar Jagdishan
Who would have thought that Leon Trotsky inadvertently offered a theory to explain China’s economic leapfrog into the 21st century after bouncing back from history’s worst famine and the Cultural Revolution? In recent decades, some people thought China was done for and would eventually collapse. They might have done better if they had read at least the first chapter of Trotsky’s The History of the Russian Revolution. Here, he expounds on what he calls “the privilege of historic backwardness”,...
Is there a middle ground that balances economic growth and protects farmers’ rights? How do you build townships without land acquisition?
Government’s real yardstick is not merely the growth reflected in indicators such as Gross State Domestic Product, but the extent to which that growth transformed the lives of the poor, asserts Chief Minister
Hong Kong’s retail sales in May rose 7.9 per cent year on year, extending the streak of growth to 13 months, with the sector benefiting from an increase in visitor numbers amid mainland China’s Labour Day “golden week” holiday. The value of retail sales for the month reached HK$33.8 billion (US$4.3 billion), according to provisional figures released by the Census and Statistics Department on Thursday, compared with HK$31.3 billion in May 2025. Retail sales for the first five months of the year...
Supporters of the Parandur airport argue that if Chennai does not get a second airport by 2028, the city and its surrounding industrial regions may lose future growth opportunities
Global Capability Centres are the new vehicles driving growth in Telangana
East Timor is seeking to turn closer ties between Asean and China’s Greater Bay Area into investment and technology opportunities, even as the bloc’s newest member faces a major challenge of building capacity to benefit from regional integration. While collaboration between the two regions could become a powerful engine of growth, policies had to ensure inclusive and sustainable advancement, East Timor’s Vice Prime Minister Francisco Kalbuadi Lay said at the South China Morning Post’s GBA-Asean...