South Korea lowers growth outlook to 1.4% on slow recovery
The government expects recovery in 2024 and has called for export-led growth.
Policy Matters
Pressured into price cuts at home, South Korea’s ramen makers in export predicament
After years of global expansion in recent years, local ramen makers, arm-twisted to lower their domestic prices, are being pressured to review their pricing policy overall.
Singapore to have new measures to ring-fence customers’ crypto assets: MAS
It includes keeping customers’ assets on a separate set of blockchain addresses from those containing the firm’s own assets.
Kom Tum’s ethnic minorities escape poverty thanks to social policy loans
Households have seen progress in their material and spiritual well-being thanks to preferential loans through social policies.
IMF reignites debate over Indonesia’s nickel export ban
“The increasing use of trade measures and industrial policies may destabilize the multilateral trade system”, their report noted.
Australia plans huge fines if big tech giants fail to tackle disinformation
Under the proposed legislation, the owners of platforms would face penalties worth up to 5 per cent of annual global turnover, one of the highest proposed in the world.
Band of Indonesia keeps rates unchanged despite hawkish Fed comments
Its effort is currently focused on keeping the rupiah’s exchange rate stable and mitigating potential adverse effects on Indonesia’s economy.
Vietnam’s footwear industry must implement green development to gain growth targets
Vietnam also targets to reach a total export turnover of footwear and handbags of US$38-40 billion by 2030.
MAS proposes framework for use of digital money in Singapore
The digital monies covered under the White Paper include central bank digital currencies, tokenised bank deposits and potentially well-regulated stablecoins.
Hong Kong mulls ways to promote cross-boundary inno-tech
Chief Executive John Lee said the government is also considering special schemes for research projects that Hong Kong excels in, such artificial intelligence and new materials.