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Small and medium-sized enterprises (SMEs) play a vital role as a driving force in economies around the world, especially in Asia. SMEs in the Association of Southeast Asian Nations (ASEAN) region are estimated to comprise more than 98% of the total number of enterprises, and they contribute to around 40% of gross domestic product.
By Shreyas P. Bharule. Posted September 20, 2018
On a typical ride on the Tokaido Shinkansen traveling from Shin-Osaka to Tokyo, it does not take a childlike imagination to notice the view from the bullet train of scattered cars, small houses, and baseball fields, gradually changing as the train approaches its destination to packed apartment buildings and tall office towers. This is an important phenomenon of high-speed rail (HSR) implementation, which can be described by the terms “spillover effect” and “straw effect.”
Increased prosperity in Asia and the Pacific has led to lifestyle changes with unwanted impacts. Studies have shown that as a result of economic progress, regions are shifting to a diet that is linked with noncommunicable diseases (NCDs), particularly overweight and obesity. The World Health Organization estimates for 2015 show that about 15 million people aged 30–69 years die annually because of NCDs (Waqanivalu 2018).
Financial development and stability in the People’s Republic of China: Evaluating the policy challenges
The People’s Republic of China (PRC) has come a long way in developing its financial system, and it has done so at a speed that has been breathtaking. The country’s “big four” banks are now the four largest banks in the world by assets, while another 14 PRC banks make it into the top 100 largest banks. The PRC last year surpassed the euro area to become the world’s largest banking system by assets, and PRC banks are now major sources of dollar-denominated lending, not least as part of the country’s One Belt One Road initiative.
By Peter J. Morgan. Posted August 15, 2018
In the postwar period, the global economic and financial architecture was dominated by the advanced economies in the West. They designed the international monetary system, international development financing frameworks, and global trade liberalization schemes. They also dominated the leadership of key global institutions related to economic and financial stability, the International Monetary Fund (IMF), and, more recently, the Financial Stability Board (FSB).
By Ulrich Volz. Posted August 8, 2018
To place the Asian economies onto a sustainable development pathway requires an unprecedented shift in investment away from industries relying intensively on greenhouse gases, fossil fuels, and natural resources toward more resource-efficient technologies and business models. The finance sector will have to play a central role in this green transformation. Important aspects of green finance are sustainable investment and banking, where investment and lending decisions are taken based on environmental screening and risk assessment to meet sustainability standards, as well as insurance services that cover environmental and climate risk.
By Akihide Hirashima. Posted July 11, 2018
Japanese local government bonds or loans are viewed as secure and almost the same as Japanese Government Bonds (JGBs). The Ministry of Internal Affairs and Communications (MIC), which is responsible for matters related to local government finance in Japan, states that even though decentralization reforms have been executed and are still in progress, there are three reasons that assure the financial security of local governments.
For many years, cities have been the engines of economic growth in Asia. However, this growth has brought the immense challenge of the daily generation of millions of tons of solid waste, especially in mega cities. The amount of solid waste being generated in Asia is drastically increasing as 44 million people are being added to city populations every year, and many cities are placing burdens on municipal as well as central governments. By 2050, 50% of the world’s population will live in the Asia and Pacific region (ADB, 2011).
By Danilo Valerio Mascia. Posted May 20, 2018
It is widely accepted that small and medium-sized enterprises (SMEs) represent the backbone of most economies. Not surprisingly, the story is mostly the same across the globe. For instance, Yoshino and Taghizadeh-Hesary (2014) report that SMEs account for almost 98% of all enterprises in Asia, offering jobs to around 66% of the workforce. In the European Union, the data offer a similar picture. In fact, SMEs represent 99% of all non-financial enterprises and account, on average, for 67% of total employment (European Commission 2017). Overall, such figures undoubtedly highlight how pivotal SMEs are for the functioning of the real economy.
By Grant B. Stillman. Posted March 30, 2018
Earlier this month, the Pacific trade pact was reborn in Santiago as the 11-nation Comprehensive and Progressive Agreement for Trans-Pacific Partnership. While the headlines have been dominated by the absence of the United States and the level of trade gains each nation hopes to enjoy, let’s focus here on three less-remarked-upon sections of this revised treaty among Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Viet Nam (the TPP11).
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