7 October 2020
Uruguay, one of the most stable economies in Latin America, is increasingly looking to China to boost trade and growth.
And Uruguay has a trade surplus with China, one of the few countries in the world to be in that position. A recent story in China Daily highlights this unique position. Why? Uruguay is small but it produces lots and lots of food, much more food than the country of just 2 million needs.
Uruguay’s exports to China, which is now the Latin American country’s largest trading partner, topped US$2.1 billion last year, almost a third of the country’s total.
Thirtytwo years after Uruguay established diplomatic relations with China, the country’s relatively young administration is looking to the other side of the world to short up its trade, economy and finances.
By Alfred Romann
China’s auto market offers a great case study for much of what is happening with China’s economy.
Like much of China’s broader economy, the market is slowing. Sales have been dropping steadily for the last few months. In fact, total vehicle sales fell 10.1 percent year-on-year in October and 0.9 percent month-on-month. Trade tensions and consumer concerns both play a role in the slowdown. A completely predictable and totally natural slowdown after years of ridiculous growth also play into it.
15 November 2016
The economics of misplaced anger
Fast growing Asian countries have “eliminated” poverty at an astonishing speed, bringing people out of extreme poverty into mere gut-reaching poverty.
At first blush, the numbers are suggesting of a hopeful future. In 1990, about a third of the people in the world lived on less than US$1.90 a day. By 2013, it was just 10.7%. In actual numbers, that is 1.85 billion in 1990 compared to 767 million in 2013. A second glance puts in perspective the anger of many people in the world, and not in a good way.
While many see Hong Kong as ideally positioned to become a global hub for digital currencies and internet finance, the road forward seems far from clear.
There’s no doubt Hong Kong is one of the world’s financial centres. But when it comes to crypto currencies, will Hong Kong still be in a leading position?
Bitcoin, which gained massive global public attention at the beginning in 2014 followed by a spike in its value, first surfaced in 2009. It is a payment system invented by Satoshi Nakamoto in 2008 and was introduced as open-source software one year later. It is a peer-to-peer (p2p) system where users can transact Bitcoins directly. Among other crypto currencies such as Litecoin (LTC) and Ripple, bastion remains the best-known and most widely used.