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from Breakingviews:

Asia’s solid exterior hides internal weakness

By Andy Mukherjee 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Asian economies are becoming more resilient externally, but sputtering economic growth is weakening them from within.

Over the past year, the region’s economies have beefed up their external defences. Trade balances have improved by 4 to 8 percentage points of GDP in India, Malaysia and Thailand. When exports grow relative to imports, more liquidity finds its way into local financial systems. The exchange rates for Indonesia, India, Malaysia and the Philippines, after stripping out the effects of inflation, are also more competitive than before the summer of 2013, when it looked like a move to tighter monetary policy in the United States would cause capital flight from Asia.

Growth, though, is faltering. Even after reporting on-target 7.5 percent GDP expansion in the second quarter on July 17, China is expected to grow at its slowest pace this year in more than two decades. The malaise is broad-based. At the start of last year, economists’ consensus forecast for 2014 GDP growth in Asia averaged 7 percent. That has fallen to about 6 percent, yet expectations for large advanced economies are roughly intact.

from Global Investing:

Asia’s path to prosperity and investment opportunities

Investors have been worried about the effect of a Chinese slowdown on Asian emerging markets, but the long-term growth story is still intact, according to specialist investment manager Matthews Asia.

Consumption is one of the key areas of growth. Illustrating the divergence of Asian economies and their path to prosperity, here's an interesting chart from Matthews which shows the standard of living of various Asian countries, expressed by applying Geary-Khamis dollars -- the concept of international dollars based on purchasing power parity -- to today's Japan.

from Global Investing:

It’s not end of the world at the Fragile Five

Despite all the doom and gloom surrounding capital-hungry Fragile Five countries, real money managers have not abandoned the ship at all.

Aberdeen Asset Management has overweight equity positions in Indonesia, India, Turkey and Brazil -- that's already 4 of the five countries that have come under market pressure because of their funding deficits.  The fund is also positive on Thailand and the Philippines.

from The Human Impact:

Rebuilding healthcare, healing survivors in typhoon-hit central Philippines

Haiyan, the strongest storm on record, destroyed many healthcare centres. Our correspondent visited the typhoon-affected areas almost three months later to see how aid agencies like ICRC have been filling the gap.

AUTHOR/PHOTOGRAPHER: Thin Lei Win

For many children in the Philippines who don’t have access to a playground, the roadside is a good alternative. Inevitably, this leads to accidents.

from Photographers' Blog:

Keeping the faith

Manila, Philippines

By Bobby Ranoco

Covering the grand procession of the Jesus of the Black Nazarene is not easy, even though I do it annually. Every year on January 9, millions of devotees crowd the streets as a life-sized, dark, wooden sculpture of Jesus Christ carrying the cross is brought through Manila’s old city.

I began to prepare days before the procession and sought permission to get a vantage point on the rooftop of the Quirino Grandstand at Luneta Park, where the procession begins, and on top of other buildings surrounding the route, to produce photographs from a bird’s eye view. It was my first time photographing from the rooftop of the Quirino Grandstand. I had to do my research on how my photographs would turn out at such an angle.

from Photographers' Blog:

Challenging gender roles in the Philippines

Manila, Philippines

By Bobby Ranoco

The Philippines economy has surged with 7%+ growth for five straight quarters but for some, jobs remain hard to come by. The answer for some people has been to look for work in an area traditionally filled by someone of the opposite gender.

I contacted the state-run Technical Educational Skills and Development Authority (TESDA) which offers training courses for ‘unisex jobs’. I met three women undertaking training courses in the traditionally male jobs of automotive repair, welding and electrician.

from The Great Debate:

A new look at climate change

The annual United Nations climate change talks, which concluded last month in Warsaw, unfortunately found little common ground on carbon. The talks broke down over the world's richest nations’ inability to agree with the poorest on how to address the financial costs of global climate change.

While disappointing, it's not surprising. Developed countries like the United States and the nations of the European Union, which have wielded the largest carbon footprints over the past decades, are not as often the victims of climate-related disasters. In fact, the countries facing the most severe effects of climate change are often the poorest and most under-developed. They are forced to confront not only natural destruction but economic ruin.

from Photographers' Blog:

Survival of mankind in the face of disaster

Tacloban, Philippines

By Bobby Yip

Back in 2006, I landed at Tacloban airport, then took a car for a six-hour journey to cover a mudslide which killed 900 people in a remote village in the central Philippines. Seven years later, Tacloban airport is the destination.

Each day after super Typhoon Haiyan battered the city, hundreds of homeless residents try to be evacuated. They fear being left behind, despite some having no clue about what their future holds in another city.

from Full Focus:

Photos of the week

Our top photos from the past week.

from Ian Bremmer:

Making sense of China’s meager typhoon aid

Faced with a devastating typhoon a mere 700 miles away, Chinese President Xi Jinping this week pledged financial support for the Philippines, as did nearly every other industrialized nation. Australia offered $30 million; the Europeans $11 million; the United Arab Emirates promised $10 million. China offered $100,000.

The media backlash was immediate. Within days, an embarrassed Beijing upped its pledge to $1.6 million. That’s still less than a sixth of the total offered by Japan, China’s main regional rival. In 2010, China overtook Japan as the second-biggest economy in the world.

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