The selloff continues here in Asia as the fallout from the Evergrande collapse spreads throughout the region, with even Japanese stocks taking a tumble. The USD is firming once more against the risk currencies although gold is just holding above the $1800USD level, while Bitcoin has peaked again at just below the $47K level as
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Be careful what you protest for: A TikTok comedian who shot to fame after he correctly predicted the daily Covid case numbers in NSW has joined his father fighting for life in hospital with the virus. Jon-Bernard Kairouz, 24, is in a Covid-19 ward at St George Hospital in Kogarah, Sydney’s south, multiple sources told
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The OECD has released its 2021 Australian Economic Survey, which calls for widespread tax reforms to reduce the overreliance on personal income taxes: Tax reform is needed. Australia’s heavy reliance on taxation of personal incomes adds to the vulnerability of public finances to an ageing population. Fortunately, there is a clear path for tax reforms
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The OECD has released its 2021 Australian Economic Survey, which highlights that Australia’s unemployment payments are pitifully low and should be raised: Recently, the working-age unemployment benefit was raised by AUD50 per fortnight. However, the benefit for a single person in the first month of unemployment in Australia, at just 29% of the average wage,
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A few weeks ago in Liyang Star City, Kunming City, China, we saw this: The blasting involved 15 high-rise residential buildings in the second phase of Liyang Star City, Kunming City, China. The project was unfinished due to a break in the developer’s capital chain. At the end of last year, the local government restarted
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From Deloitte’s Weekly Economics Briefing: New payroll data indicates that Australia’s labour market has once again fallen from its perch, after an impressive recovery during the first half of the year. Released late last week, the ABS data revealed that total payroll jobs fell 3.5% between the week ending 19 June, before Sydney’s latest lockdown
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Down she goes and where it stops nobody knows. Chinese August data is out. It is OK at the headline level but downright disastrous at the commodities level. Headline data all missed expectations. Year to date fixed asset investment was OK at 8.9%, industrial production good at 13.1% and retail sales at 19%. But when
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Back in April, Treasurer Josh Frydenberg neutered ASIC by appointing former banking lawyer Joseph Longo as chairman of ASIC and directing him to support the economic recovery from the pandemic rather than enforcing financial system conduct: Frydenberg made it clear the direction of ASIC would be changing dramatically from the tougher stance foisted on it
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Obviously not. Unless you work at Goldman: In recent months, the Chinese government has embarked upon a regulatory tightening cycle unprecedented in terms of its duration, intensity, and scope. Regulations targeting specific sectors, including internet platforms, education and property markets, have wiped out more than $1tn of market cap from Chinese equities since their recent
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Chinese new home prices are out and are stalling, up just 0.2% in August and 4.2% over the year: The majority of cities now have flat or falling prices: All tiers are slowing: Here’s the city-by-city: If the property developer bust sinks prices then all bets are off in China.
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