China’s central bank, the People’s Bank of China (PBOC), has taken significant steps to support the struggling economy by reducing a key short-term interest rate and injecting substantial liquidity into the financial system. This move comes amid a global trend of monetary policy adjustments, with other major economies like the United States and Japan also making changes to their interest rates.
E Fund Management, China’s largest mutual fund manager, has seen its broad-based ETFs flourish due to a robust Chinese economy and rising international investor confidence. The company’s comprehensive ETF portfolio, including the E Fund CSI 300 ETF and MSCI China A50 Connect ETF, has attracted significant inflows, with over US$100 billion invested in the first eight months of 2024.
China’s central bank took action to stimulate the economy by lowering a key interest rate and injecting more liquidity into the financial system. This move comes amidst concerns about China’s economic slowdown and the possibility of missing its annual growth target. Experts believe further measures are likely to be announced soon to revive economic momentum.
Singapore’s population is projected to shrink within the next decade if current trends continue, leading to a potential decline in the workforce and economic activity. This demographic shift, driven by an increasing death rate and declining birth rate, could pose challenges to the city-state’s future economic growth and social well-being.
Vice President Kamala Harris, the Democratic presidential candidate, raised a record-breaking $27 million at a New York City fundraiser, highlighting her economic vision. Harris is seeking to capitalize on voters’ economic anxieties, particularly the rising cost of living. She has announced an economic speech and proposes policies like middle-class tax cuts and tax hikes on the wealthy.
The Federal Reserve’s surprise rate cut, strong retail sales, and contrasting opinions on the economy’s health dominated financial headlines last week. This news roundup examines these key developments and their potential implications.
Japan, once a top travel destination, is seeing a decline in tourism due to factors like remote work, lingering COVID-19 concerns, and increased competition. The government is working to revitalize the industry by highlighting unique experiences and promoting hidden gems.
Portugal’s tourism sector experienced a remarkable surge in July 2024, with revenue from foreign visitors reaching €3.374 billion, a 9.1% increase compared to the same month last year. The country’s tourism recovery continues to impress, surpassing pre-pandemic levels and highlighting its growing popularity as a global travel destination.
Former House Speaker Newt Gingrich argues that Vice President Kamala Harris’s economic record is a significant liability for her potential presidential run. He points to her lackluster responses on economic issues and the fact that Americans are struggling with inflation and high costs, making Bidenomics unpopular. Gingrich believes that Harris’s emphasis on her background and lack of concrete economic solutions are not resonating with voters.
Morocco’s tourism sector is experiencing a remarkable surge in 2024, with record tourist arrivals and a significant increase in revenue. This growth is fueled by government initiatives to enhance visitor experience and accessibility, positioning Morocco as a leading global tourist destination.
