Economy News

Economy

Breaking: US and China Agree on Tariff Truce, Aim for Balanced Trade Without Decoupling

US Treasury Secretary Scott Bessent announces a 90-day tariff pause with China, emphasizing both countries' desire to avoid decoupling and achieve a more balanced trade relationshi...

Economy

KDI Sounds Alarm: South Korea Faces Significant Economic Slowdown in 2023

The Korea Development Institute (KDI) warns of an economic slowdown in South Korea, citing a record low GDP growth rate in the first quarter of 2023, weakened construction sector, ...

Economy

Thailand Relaxes Alcohol Ban on Buddhist Holidays to Boost Tourism and Nightlife

Thailand has eased its alcohol ban on five Buddhist holidays, allowing select venues like airports and hotels to serve alcohol, aiming to boost tourism. This change is part of the ...

Economy

South Korea Faces Steep 30.4% Drop in Exports to the U.S., Signaling Global Trade Challenges

South Korea's exports to the U.S. plummeted by 30.4% in early May, with overall exports dropping 23.8%. The trade deficit hits $1.74 billion, influenced by fewer working days and a...

Economy

Vietnam's Lychee Production Soars by 30% This Year: A Story of Weather, Strategy, and Global Demand

Vietnam's lychee production is expected to rise by 30% this year due to favorable weather and disease control. The harvest is split into two phases, with extensive preparations for...

Economy

South Korea's Rising Debt: A Looming Challenge Beyond Reserve Currency Averages

The IMF projects South Korea's national debt ratio to GDP will exceed the average of non-reserve currency countries this year, signaling a critical shift in fiscal dynamics and rai...

Economy

Japan's Trade Surplus Narrows to ¥516.5B in March, Reflecting Global Economic Shifts

Japan's trade surplus on the BOP basis decreased to ¥516.5 billion in March from ¥712.9 billion the previous month, with exports up by 1.8% and imports by 1.3% year-on-year.

Economy

US and China Reach Significant Breakthrough in High-Level Trade Talks in Switzerland

US and China officials reported 'substantial progress' in trade talks aimed at de-escalating tariff tensions, with further details to be shared soon.