The Association of Southeast Asian Nations has much to crow about as it marks its 50th anniversary: economic and social progress, a manufacturing powerhouse and relative political stability. The 10 Asean members boast of some of the world’s fastest expanding economies like the Philippines and Vietnam, with growth rates of more than 6 percent. With a combined population of over …
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This shipbuilder’s fortunes turn around
A recovery in demand for new bulk carriers has helped Singapore’s worst-performing stock in 2016 become its best this year. Yangzijiang Shipbuilding Holdings Ltd., which specializes in dry-bulk carriers, has rallied 83 percent in 2017 to lead the benchmark Straits Times Index. The Chinese shipbuilding firm has made a comeback after it won 13 contracts worth $318 million in the …
Read More »Why are they pouring big money into malls?
If you are one of those people who thinks America’s retail industry is doing just fine, well, there are three possibilities: You’ve been living under a rock; you think Amazon refers to a South American river; or you’re a real estate developer. As everything from once-mighty department stores to niche clothing chains announce plans to shutter hundreds of locations, and …
Read More »This town was left to die, and suddenly economists care
Suppose a bunch of economists were to show up in the Virginia town of South Boston to preach the benefits of free trade. How would local people react? In an old, red-brick tobacco warehouse near the Dan River, W.W. “Ted†Bennett Jr. ponders the question. The former state delegate looks over his shoulder, squints a bit, then says with southern …
Read More »Buffett approaches a milestone he dislikes
It’s a milestone Warren Buffett probably wishes he weren’t approaching. Berkshire Hathaway Inc., the conglomerate he’s run for more than five decades, reported that it held just shy of $100 billion in cash at the end of the second quarter. While that figure highlights the staggering money-making ability of the businesses he’s collected over the years, it’s also a burden. …
Read More »Baby boomers: Housing sector’s new dominant force
Jake Yanoviak is hunting for houses. On a weekday afternoon in North Philadelphia, the 23-year-old painter cruises along on his bike, its black paint obscured under stickers from breweries and rock bands. He turns onto a side street, where he spots a few elderly neighbors, standing on adjoining porches. He parks, leans on one handlebar and makes his pitch. “Anybody …
Read More »Trump’s great growth debate raises questions
The argument between the Trump administration and its critics over a sustainable rate of economic growth raises profound questions about America’s future. Have we entered a prolonged period of slow growth? If so, how does that alter society and politics? Or will the “right” policies raise growth to past levels? If you haven’t paid attention, here’s a brief overview of …
Read More »Has China’s rise into a global economic superpower stalled?
The fall from grace of China’s Anbang Insurance Group Co. Ltd. continues to get steeper. Not long ago, the mysterious firm was chasing one foreign deal after another, becoming a symbol of China’s global economic ambitions. Now it appears the government may be pressuring Anbang to divest those prized foreign assets. If that proves to be the case, China will …
Read More »How Japan could remove melted atomic fuel it lost
More than six years after three nuclear reactors melted down in Japan, the country is homing in on the lost fuel inside one of them. Japan’s biggest utility and owner of the wrecked Fukushima Dai-Ichi plant, Tokyo Electric Power Co. Holdings Inc., last week released images that for the first time showed what’s likely melted fuel inside the No. 3 …
Read More »Vietnam pays price for econmic success
Asia’s newest tiger economy is about to find out the cost of being a member of the club. Vietnam has more than doubled its gross domestic product over the past eight years, becoming a high performer in the world’s fastest-growing region. One consequence is it’s now well-enough off to be disqualified from getting development funding from international institutions on a …
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