A meeting of Asian and European economic ministers, meant to
A meeting of Asian and European economic ministers, meant to be China's first high-profile post-SARS event, is likely to be marred by European no-shows and a Chinese reluctance to touch the hot issue of the yuan.
The question of whether the Chinese currency is undervalued is expected to be on many participants' minds during the fifth Asia Europe Meeting (ASEM) of economic ministers in the northeastern port city of Dalian this week.
2. S'pore
3 x 20 S'pore to achieve 2003 growth targets: Deputy PM Lee Singapore to achieve 2003 economic growth targets: deputy PM Lee
Singapore should achieve its economic growth target of between 0.5 and 2.5 percent this year now that East Asia has brought SARS under control and the U.S. economy is showing signs of recovery, a top official said Tuesday.
Deputy Prime Minister Lee Hsien Loong said more tourists are coming back, hotels are enjoying higher occupancy rates and retail sales are recovering after the Severe Acute Respiratory Syndrome (SARS) viral outbreak was contained in late May.
Singapore's gross domestic product contracted 4.3 percent in the second quarter to June largely due to the impact of SARS which wrought havoc on the tourism sector and dented consumption spending.
Lee said in a speech to trade unionists the economy was now on track towards recovery.
3. Pussie
1 x 32 Aussie warned against U.S. FTA deal Australia warned against free trade deal with the U.S.
Australia is jeopardizing its economic and security interests by pursuing a free trade deal with the United States which will discriminate against its Asian trading partners, one of the nation's leading trade experts warned on Tuesday.
Professor Ross Garnaut, a former adviser to prime minister Bob Hawke's government and now an academic with the Canberra-based Australian National University, said there were also major flaws in officials' claims as to the value of the deal to Australia.
4. Hongkong
1 x 32 HK deflation worsens due to SARS Hong Kong deflation worsens as SARS continues to hit spending in June
The pace of deflation in Hong Kong picked up sharply in June as the effects of the SARS outbreak continued to depress consumer spending, the government said on Tuesday.
It said that consumer prices fell 3.1 percent in June compared with a year earlier after a fall of 2.5 percent in May as the impact of Severe Acute Respiratory Syndrome (SARS) continued to be felt.
A government spokesman noted that although SARS had been brought under control, consumer demand remained weak.