Masaaki Shirakawa is about to become the most scrutinized man in Japan. That is saying a lot, given how unpopular Prime Minister Taro Aso is these days. As deflation returns to the second-biggest economy, the spotlight will focus on Bank of Japan Governor Shirakawa. Its glare will intensify as 2009 unfolds. Shirakawa will be under extreme pressure to return short-term rates to zero. Expect desperate politicians to demand a return to the policies from which the BOJ spent recent years moving away. Shirakawa should stand firm and hold the key overnight lending rate at 0.1 percent. That small move hardly would take an act of bravery, but it might have symbolic meaning. The same goes for the US Federal Reserve, the Bank of England and other central banks on the precipice of zero interest rates. Granted, Japan is pretty much there already. Who really thinks a minuscule rate cut would help things? Japanese companies slashed spending last quarter at the fastest pace in a decade as exports … [Read more...] about Deflationââ¬â¢s return speeds up race to zero rates
Zero population growth
Vietnam population growth rate alarming
Vietnam will exert efforts to curb the country's growing population which has reportedly risen at an annual rate of 1.2 to 1.25 million in the past two years. From 1967-1997, Vietnam's annual population growth was reported at 1-1.1 million. The country's population has grown at an alarming speed during recent years, said Dr. Nguyen Thien Truong, vice chairman of the National Committee for Population, Family and Children. "The Population Strategy until 2010 issued a warning about the possibility of overcrowding," he said. One action program to address the problem is to continue implementing a recently-launched nationwide campaign for birth rate reduction and family planning services in 2005, said Dr. Truong. Some 40 billion VND (some US$2.6 million) of the state budget next year will be earmarked for the program. Currently, the National Committee for Population, Family and Children has implemented the campaign in 38 cities and provinces where the rate of couples with a … [Read more...] about Vietnam population growth rate alarming
APEC zeroes in on barriers to global, regional trade
Breaking down barriers to global and regional trade was top of the agenda on Thursday for ministers of 21 Pacific rim economies gathered in Vietnam for the biggest party Hanoi has ever thrown. In a draft of the ministerial statement obtained by Reuters, Asia Pacific Economic Cooperation forum members - who together account for nearly half of world trade - put pressure on their own leaders to get the Doha round of trade talks back on track. A statement "reaffirming APEC resolve in resuming the negotiation process without further delay," was essential when the leaders meet in Hanoi at the weekend, trade and foreign ministers said in the draft, to be issued later on Thursday. APEC itself had work to do to sort out an increasingly complicated network of bilateral trade relationships in the region, the ministers said, and agreed in Hanoi to six templates, or "model measures," for free trade agreements. APEC business leaders have been concerned about the proliferation of … [Read more...] about APEC zeroes in on barriers to global, regional trade
Growth in step
Mr Edral Elver, President and CEO of Siemens Vietnam, tells VET's Linh San why it remains fully committed to doing business in Vietnam despite the global economic downturn. "As the world leading total solutions provider, with a unique and broad portfolio, Siemens weights the three sectors as being of equal importance. At Siemens Vietnam we hold the same view and we see business opportunities in all of these sectors." How has the global economic recession influenced the business operations of Siemens in Vietnam?The global economic recession is hitting Vietnam and as an integral part of the local economy some of Siemens' business operations are also affected. We have experienced a slight slowdown in revenue in all sectors, especially in the industry sector, but have gained a considerable increase in new orders in energy and healthcare. We are working hard and I am confident that we will achieve our overall business volume target for this year.Siemens Vietnam has a strong presence in … [Read more...] about Growth in step
Rio Summit must address population growth: scientists
PARIS - A top scientific academy on Thursday called on June's Rio Summit to tackle population growth and voracious consumption that are placing Earth's resources under intolerable strain. "The 21st century is a critical period for people and the planet," the Royal Society, the world's oldest science academy, said in a report ahead of the June 20-22 UN gathering. Demography, it said, can no longer be sidelined or treated as separate from the environment or the economy. "The world now has a very clear choice," said leading British scientist Sir John Sulston, who led the report. "We can choose to rebalance the use of resources to a more egalitarian pattern of consumption, to reframe our economic values to truly reflect what our consumption means for our planet and to help individuals around the world to make informed and free reproductive choices." "Or," he said, "we can choose to do nothing - and to drift into a downward vortex of economic, socio-political and environmental … [Read more...] about Rio Summit must address population growth: scientists