New model to spur growth Sep 5, 2009
Being a small and open economy, we need international trade. We cannot just rely on domestic demand; otherwise, we cannot achieve high growth, Mahani explains. (The Star Online, Malaysia -- Business)
George Will: TAC Is Right Sep 4, 2009
"There are still civilians being killed in Iraq. We still have people that are attempting to attack the new Iraqi order and the move towards democracy and a more open economy. So we still have some work to do.". No, we don't, even if, as Jaffe reports, the presence of 130,000 U.S. troops "serves as a check on Iraqi military and political leaders' baser and more sectarian instincts." After almost 6 1/2 years, and 4,327 American dead and 31,483 wounded, with a war spiraling downward in... (The American Conservative)
China's success in economic reform draws praise Aug 27, 2009
"China has followed a development path characterized by comparative advantages and open economy, and has set a fine example for most developing countries," he added. Kenneth Dewoskin, a senior researcher at the accounting firm Deloitte, said China's economy and living standards have experienced significant improvements during the past several decades. (Xinhuanet, China)
Fischer Rate Rise Has No Followers in Emerging Markets, Deutsche Bank Says Aug 27, 2009
It brought rates close to zero, and it is a small, open economy. So is Chile. (Bloomberg -- Latin America)
Top Article: Out Of Touch Aug 25, 2009
When in power, the BJP paid ritual obeisance to the party's distinctive facets and then proceeded to focus on issues such as robust foreign policy, an open economy and rapid modernisation. A chunk of those who devoted themselves passionately to the BJP did so out of a conviction that it was a "Hindu party" committed to "Hindu interests". (India Times, India)
Banking for the future Aug 8, 2009
Given the crisis and our open economy, our financial system has remained solid. It is able to absorb the increased volatility that we have seen. (The Star Online, Malaysia -- Business)
Top article: Adding Value To Humanity Aug 1, 2009
At a time when socialism and command economies were prevalent in other parts of the world, Dubai was unique in its preference for an open economy and regional trade. At no time, however, has the Dubai government forgotten its Islamic roots. (India Times, India)
Europe.view: Wooing wrong Jul 31, 2009
The long-term hope for expanding the EU eastwards lies in its soft power: the idea that political freedom, the rule of law and an open economy work, whereas protectionism and cronyism do not. If the West doesn t believe that, and promote it, why should anyone else. (The Economist)
Geithner says U.S. and China seeking stability Jul 29, 2009
Wang, China's top economic policymaker, said his country's attempts to create a more open economy would help U.S. recovery efforts. "With the furthering of China's reform and opening up, China and the United States will have even closer economic cooperation and trade relations and (the) China-US relationship will surely keep moving forward," Wang said through an interpreter. (MSNBC -- Business)
Obama: U.S.-China relations to shape 21st century Jul 28, 2009
Vice Premier , China's top economic policymaker, said his country's attempts to create a more open economy would help U.S. recovery efforts. "With the furthering of China's reform and opening up, China and the United States will have even closer economic cooperation and trade relations and (the) China-U.S. relationship will surely keep moving forward," Wang said, speaking through an interpreter. (USA Today)
United Arab Emirates Jul 20, 2009
(AP) The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Despite largely successful efforts at economic diversification, about 30% of GDP is still directly based on oil and gas output, and the fortunes of the economy fluctuate with the prices of those commodities. (CBS News -- Evening News)
Transcript of a Press Briefing by Caroline Atkinson, Director, External Relations, IMF Jul 17, 2009
It will replace the current IMF Staff Notes, and will be dedicated to publishing top-quality research on open economy macroeconomics. The publication will be open to both IMF and outside economists for unsolicited submissions, and it will be edited by the distinguished UC Berkeley academic, Pierre-Olivier Gourinchas. (IMF News)
Roads to riches Jul 16, 2009
When asked if an open economy between southern African countries was a possible way to weather the storm, he said: "We have to walk between two fires. On the one side there is a United States of Africa. One the other side there is a retreat into sovereignty which doesn't really make sense," he said, adding that the developing countries' economies were too small. Sapa Digg. (iAfrica.com)
Kazakhs agree tojoint WTO approach Jul 9, 2009
Alshanov said that with a relatively open economy and export revenues equivalent to just over 50% of gross domestic product last year, Kazakhstan was in better shape than either Russia or Belarus to compete in the WTO system. Russia and Belarus are likely to be less enthusiastic than Kazakhstan about accepting the free-trade obligations imposed by WTO membership. (Asia Times Online)
UK small businesses lack forex expertise Jul 8, 2009
In an open economy heavily reliant on imports and exports, UK companies ignore market volatility at their own risk. . (FT.com -- Markets)
Southeast Asia Jul 5, 2009
Cynics remain unconvinced that he has truly headed calls for a more open economy. - Simon Roughneen (Apr 30,'09). (Asia Times Online)
British Embassy row: Why Iran's hard-liners are inviting isolation Jul 4, 2009
The principal challenger to Ahmadinejad in the June 12 election was Mir Hossein Mousavi, a former prime minister and loyalist of the late Ayatollah Khomeini who favors more engagement with the West and a more open economy and political system. But he is also a staunch nationalist often praised for his leadership during Iran's war with Iraq in the 1980s. (Christian Science Monitor -- USA)
Interview: Mexico needs to fix fiscal position to fight crisis Jul 3, 2009
Mexico would continue to be a very open economy and stay closely connected to the United States, but there will be much to do to ensure the Latin American nation is not so affected by the crisis that erupted in its powerful neighbor, he said. Special Report. (Xinhuanet, China)
Celtic tiger tamed by the lure of the almighty euro Jun 27, 2009
Ireland is also a small, open economy, highly dependent on trade - but it could rely on the credibility of the euro and the central bank as it grew and when it ran into trouble. Recently, it received a huge injection of cash as part of the ECB's staggering ;600 billion ($1 trillion) program to shore up the continent's economy and financial system. (Sydney Morning Herald -- World)
* Central bank keeps interest rates low Jun 26, 2009
The central bank will take cues from the global trend when weighing its next steps as the nations small and open economy is susceptible to external influence. . (Taipei Times, Taiwan -- World)
* A constructivist take on the Strait Jun 16, 2009
Even as we welcome Taiwans increased engagement with the Peoples Republic of China, however, we must not lose sight of the qualities that underpin Taiwans unique success: the vibrant democracy, civil society and open economy, he said. Yu Tsung-chi is a senior fellow at the Atlantic Council of the United States. (Taipei Times, Taiwan -- Sports)
* AIT chief calls for consensus on cross-strait ties Jun 5, 2009
Even as we welcome Taiwans increased engagement with the Peoples Republic of China, however, we must not lose sight of the qualities that underpin Taiwans unique success: the vibrant democracy, civil society and open economy, Young said. Young said it is important in these tumultuous economic and political times that Taiwan sustains its achievements in this area, including by fostering open dialogue and consensus-building across party lines. (Taipei Times, Taiwan -- Sports)
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with Luxembourg Jun 4, 2009
Ongoing financial turmoil and global recession pose daunting challenges to Luxembourg s small open economy. The financial sector hosting a large number of foreign-owned subsidiary banks, Europe s largest investment fund industry and second largest money market industry is fully exposed to the turmoil. (IMF News)
Irish economy 'is not all gloom' May 30, 2009
Many analysts agree Ireland's small, open economy will be among the first to benefit from an international upswing, but some fear the tax rises unveiled in two emergency budgets in October and April will stifle economic growth. Although one Irish bond sale last week was almost five times oversubscribed, many investors have given all Irish assets a wide berth after a string of banking scandals. (BBC News -- Business)
Canadian Currency Trades Near Strongest Level Since October as Crude Rises May 29, 2009
Canada is a very small, open economy. Its very sensitive to trade flows, and if the global economy is doing better, Canadas going to see the gains of that relatively quickly. (Bloomberg -- Canada)
KC Grupp Reports Estonia's Credit Rating Unchanged According to Moody's and Standard & Poor's May 26, 2009
In addition, the rating is supported by Estonia's competitive, flexible and open economy and the perspective of accession to the euro area. The reason for the negative rating outlook, according to Standard & Poor's, was the risks that originated from the unbalanced economies of Latvia and Lithuania. (PR Newswire)
How to Turn a Quail-Breeding Farm Into $5.2 Billion May 24, 2009
For these efforts, the Lius have been celebrated by numerous government officials as heroes and entrepreneurial role models for China's rapid transition to a more open economy. 2. (MSNBC -- Business)
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with the Republic of Slovenia May 24, 2009
The Executive Directors noted that, after a long period of strong economic performance that allowed a rapid catch-up to EU levels, Slovenia, as a small open economy, is now severely affected by the global economic crisis. They commended the authorities for their swift and decisive policy responses to slower growth and financial sector strains. (IMF News)
South Africa: Labor Influence Enhanced in Country's New Government [analysis] May 23, 2009
This could either strengthen the hand of the labor federation or cause Trevor Manuel to advocate strenuously for an open economy. Time will tell. (allAfrica.com)
Indian Stock Surge Shows `Sense of Urgency' for Singh in Opening Economy May 19, 2009
Indias Stock Surge Shows Investors See Open Economy (Update1) - Bloomberg ... Indias Stock Surge Shows Investors See Open Economy (Update1). (Bloomberg -- Asia)
Congress plots new path after Indian election win May 18, 2009
An economist and technocrat, Singh shifted the country away from decades of socialist-style policies and toward a more open economy when he was finance minister in the early 1990s. But over the past five years, many additional market reforms that Congress backed were blocked by the communists, which remained a strong force in Parliament. (Fresno Bee -- Local)
Morocco sheds jobs but hangs on in financial storm May 18, 2009
Morocco's diverse, open economy has served as a model to poorer nations in Africa and the Arab world, but it has also left the country exposed to global downturn as trade with the rich world shrinks. And many are now watching whether the ripple effects of international finance could turn nasty in a developing nation like this north African kingdom with strong political and migration ties to Europe. (Sioux City Journal, IO)
Singapore said Monday April exports fell 19% May 18, 2009
As an open economy that relies on trade, finance and tourism, Singapore has taken the brunt of a collapse in demand from the U.S. and Europe during the past six months. The tiny city-state, with a population of about 5 million, has less domestic demand to fall back on than fellow regional exporters such as China, South Korea, Taiwan, and Japan. (The Star Online, Malaysia)
Hong Kong's economy shrinks 7.8% May 16, 2009
"The figure is worse than expected. It tells you how a severe global financial crisis can affect a healthy, small and open economy," said Dong Tao at Credit Suisse. "Will Hong Kong see a further deterioration? It is not up to Hong Kong, it is up to the rest of the world, especially the US, China and the financial markets.". (BBC News -- Business)
PM: Take advantage of halal market opportunities May 7, 2009
Najib said Malaysia had a competitive edge in the development of the halal industry, being a modern Islamic country with an open economy. It also has a well-developed physical and institutional infrastructure, strong manufacturing base and a Government which is strongly supportive of the halal initiative," he added. Najib said Malaysia is at an advantage because its halal certification and logo had been accepted worldwide. A significant milestone was the adoption of Malaysias MS1500:2004 as the... (The Star Online, Malaysia)
China calls for greater efforts on economic reforms Apr 30, 2009
The nation should build an open economy on the basis of mutually beneficial cooperation with other countries, according to the document. The executive decided to lower the threshold in terms of capital pooled into the projects for investment in city transportation, coal mining, airports, ports, commercial housing, railways, roads and other sectors, a move to stimulate the investment enthusiasm from the public and companies and to better cope with the adverse effects of the global financial... (Xinhuanet, China)
Swine flu risk to Singapore recovery: central bank Apr 29, 2009
Singapore, an open economy largely dependent on external trade and tourism, has stepped up measures against swine flu, drawing lessons from its fight against the Severe Acute Respiratory Syndrome (SARS) in 2003. SARS killed 33 people in Singapore that year. (Yahoo! Asia News)
* Singapore bank devalues currency Apr 15, 2009
Other data yesterday meanwhile suggested Singapores open economy X exports including re-exports are double the total economic output X could be nearing a trough. Non-oil exports (NODX) fell 17 percent from a year earlier last month after a record 35 percent plunge in January and a 24 percent fall in February. (Taipei Times, Taiwan -- World Business)
Press Release: Statement at the Conclusion of an IMF Mission to Cape Verde Apr 15, 2009
"The mission held extensive and productive discussions with government officials, representatives of the private sector and the Finance Committee of the National Assembly, and would like to thank the authorities for their excellent cooperation. Cape Verde s economic and policy performance remains strong and so far the impact of global shocks remain manageable thanks to sizable buffers built in recent years through prudent macroeconomic management, especially the fiscal space created in the last... (IMF News)
Why devaluation is Singapores best option Apr 7, 2009
That would push up swap rates which are derived from these forwards, and elevate short-term rates across the board in the tiny, open economy. Already, the Singapore 6-month swap offered rate (SOR), a benchmark for mortgage and commercial lending in the economy, has climbed 65 basis points in just over two months. (The Star Online, Malaysia -- Business)
Luxembourg - 2009 Article IV Consultation, IMF Concluding Statement Apr 1, 2009
Ongoing financial turmoil and the first global recession in 60 years pose daunting challenges to Luxembourg s small open economy. The financial sector hosting 152 mostly foreign-owned subsidiary banks, Europe s largest investment fund industry and second largest money market industry is fully exposed to the turmoil. (IMF News)
Singapore in straitened times Mar 27, 2009
A few months ago this would have been blasphemous for a Singaporean leader to say, as the city-state's economic success with a per capita annual income of over US$24,000 is attributed to its open economy, with about three-quarters of its income coming from external trade and investments. The government's investment arm, Temasek, has invested heavily overseas and government-owned enterprises such as the telecom giant SingTel, Singapore Airlines, DBS Bank Keppel Corporation and Semb-Corp derive a... (Asia Times Online)
The Right’s Infatuation With Globalization Mar 26, 2009
Or, to put it differently, conservatives can pick any two from an open economy, a stable society and political power but not all three. This seems true to me, which is why it puzzles me that pretty much everyone on the Anglophone right (with a few exceptions) has concluded that the things that need to be dropped are either social stability or the small state or both. (The American Conservative)
Charlemagne: Fingers in the dyke Mar 21, 2009
The Netherlands has an exceptionally open economy, exporting 70% of output, so it is a leading voice against protectionism of the sort that tempts some American congressmen. The Dutch are also famously thrifty. (The Economist)
Buttonwood: Swissie fit Mar 21, 2009
Second, Switzerland is a relatively open economy and depreciation will have more effect, when it comes to countering deflation risks, than it would for the United States or the euro zone. Nevertheless, there are some troubling aspects to the Swiss move. (The Economist)
World moving into second wave of financial crisis Mar 19, 2009
China is a very open economy, with its export and import shares extremely high, he said, noting that a major contraction in its export markets has taken a major toll on the Chinese economy. Roach said that China's economy will recover soon, if the country takes more aggressive actions to stimulate internal private consumption, while reducing its dependence on exports. (Xinhuanet, China)
Jordan--2009 Article IV Consultation: Concluding Statement of the IMF Mission Mar 17, 2009
Since Jordan is a highly open economy, a large share of any additional spending will be associated with increased imports. This will dampen the stimulative impact on domestic activity and, at the same time, widen the external deficit and associated vulnerabilities. (IMF News)
Exports plunge by 9% Mar 14, 2009
On the whole, as an export-oriented small open economy, it is clearly apparent that Canada has been dealt a severe blow by a combination of the ongoing global economic recession and the dramatic reversal in the commodity prices, Mr. Mulraine said in a research note. And with global trade flows continuing to sag, we expect the Canadian trade deficit to widen even further with net trade remaining a source of significant drag on the Canadian economy, Mr. Mulraine said. (Globe and Mail -- Business)
Mini Budget Speech: RM60bil for stimulus package Mar 10, 2009
Nevertheless, in the current global economic recession, Malaysia has to accept the fact that, as a highly open economy, it is likely to be impacted through the following four factors. First: Exports will decline in line with deteriorating world demand. (The Star Online, Malaysia -- News)
Potholes, sinkholes and stimulus packages Mar 9, 2009
Malaysia is an open economy and demand management in open economies differs from those that are not as open. For all of Japans export prowess, total trade (i. (The Star Online, Malaysia)
Property market the first to be hit by downturn and the last to recover Mar 7, 2009
As an open economy, Malaysia is not spared from the global financial crisis as well as property market meltdown. Since late last year, the domestic property market has started to show signs of weakening. (The Star Online, Malaysia -- Business)
Asia stocks slip on bank fears Mar 4, 2009
"As long as global growth expectations are turning down Asian export growth will deteriorate further and Asia ex-Japan currencies will remain under pressure. We continue to focus on that especially small open economy currencies should be hit further," they said in a note. U.S. Treasuries remained under pressure, pushing up the yield on the benchmark 10-year note to 2. (India Times, India)
Ringgit affected by deleveraging, repatriation of funds to US Mar 4, 2009
As an open economy, Malaysia was already adversely affected by the global developments although its banks remained sound and well capitalised, she said. The domestic conditions are expected to remain challenging in the coming quarters and a range of policy responses are being implemented, she said. (The Star Online, Malaysia -- Business)
India dusts offfree-trade banner Mar 3, 2009
"Unfortunately at that time a lot of people thought too narrowly and missed the boat. I am sure they will now realize that every country has to gain with a more open economy.". How much, then, should a national economy be opened - how much access to one's own home should be given to a welcome guest without violating the privacy of the host. (Asia Times Online)
Zimbabwe: Mugabe Must Go [editorial] Mar 2, 2009
A real open economy with a central bank he could not control is the last thing he wants. No, the begging bowl is being held out by the South African Foreign Minister, Nkosa zana Dlamini-Zuma, who says she is certain that any money raised would really be spent on what it was intended for. (allAfrica.com)
Budgeting for crisis Feb 28, 2009
An open economy like Malaysia is especially susceptible to a deceleration in external demand and the drop off in exports has been startling. In the final quarter of last year, exports, on a year-on-year basis, fell by 2. (The Star Online, Malaysia -- Business)
ASEAN deal may give $40 bln boost to Aust economy Feb 28, 2009
"Vietnam has made substantial market access commitments under AANZFTA and I urge Australian business to take advantage of the significant market opportunities in Vietnam's increasingly open economy," he said. AAP. (Sydney Morning Herald -- Business)
Predicting fate of Ireland turns into a shouting match Feb 28, 2009
The stunning fall of Iceland late last year and the spreading contagion of the financial crisis have provoked fears - fanned by bloggers, analysts and a small group of outspoken economists like Kelly - that Ireland, another small, open economy plagued by deficits and an outsized banking sector with incalculable losses, may face a similar troubles. Known in Ireland as Dr. Doom, Kelly, whose eyes burn with the passionate intensity of his prophesy, calls himself the Nouriel Roubini of Ireland, a... (International Herald Tribune)
Aussie companies to do it easier in Asia Feb 27, 2009
"Vietnam has made substantial market access commitments under AANZFTA and I urge Australian business to take advantage of the significant market opportunities in Vietnam's increasingly open economy," he said. 2009 Brought to you by. (Sydney Morning Herald -- Business)
Cutback on outsourcing will only hit US: India Inc Feb 26, 2009
Reacting to Obama's statement, Kris Gopalakrishnan, CEO of Infosys Technologies, said, "Outsourcing has enhanced the competitiveness of US corporations and has created more jobs within the US economy. The US is an open economy and a strong proponent of free trade globally. We are confident that the US will not take any measures which might hurt its own global competitiveness.'' Echoing similar sentiments, MindTree, CMD, Ashok Soota said, "His speech was an extension of what he had spoken earlier... (India Times, India -- Intl Business)
Full Story » Feb 25, 2009
Asia's economic woes deepen as Obama vows to beat crisis Posted: 25 February 2009 1610 hrs. " onclick="Next();" src="/images/butt_next. (Channelnewsasia.com)
Hong Kong economy to shrink up to 3 pct in 2009 Feb 25, 2009
"Being a small open economy, Hong Kong will inevitably be hit.". For 2009, gross domestic product will likely shrink between 2 percent and 3 percent its first full year contraction since the Asian crisis in 1998, Tsang said. (International Herald Tribune -- Sports)
HK financial secretary presents 2009-2010 budget Feb 25, 2009
"Being a small open economy, Hong Kong will inevitably be hit by the once-in-a-century and the most severe financial turmoil since the Great Depression in the 1930s," he noted, "our economy will slide into recession. He said the HKSAR government was responding with measures to ease the liquidity crunch in the financial system, relieve enterprises' financing difficulties and bolster the community's confidence. The financial secretary promised to be responsive to social problems arising from the... (Xinhuanet, China)
Asia's economic woes deepen as Obama vows to beat crisis Feb 25, 2009
"Being a small, open economy, Hong Kong will inevitably be hit by the turmoil.". Japan's trade deficit The southern Chinese city first tumbled into recession in the third quarter of 2008, and the situation worsened in the final quarter, with GDP shrinking 2. (Sydney Morning Herald -- World)
Asia's economic woes deepen as Obama vows to beat crisis Feb 25, 2009
"Being a small, open economy, Hong Kong will inevitably be hit by the turmoil." Japan's trade deficit The southern Chinese city first tumbled into recession in the third quarter of 2008, and the situation worsened in the final quarter, with GDP shrinking 2. 5 percent year-on-year, Tsang said. (Yahoo! Asia News)
