Tag: Recession

The US Economy is on the brink of recession, brought on by a reckless spending policy of the Biden Administration. Notable figures like Bank of America CEO Brian Moynihan and Federal Reserve Chairman Jerome Powell have voiced their concerns.

Asian financial markets show positive momentum as U.S. economic data boosts investor confidence. The Philippine Peso and Malaysian Ringgit strengthen, reflecting robust economic performance and improved regional market outlook. Both currencies experience significant gains in early January, driven by strong economic indicators and renewed investor optimism.

Asian markets show mixed performance as Hong Kong and China stocks rise, despite worries about economic slowdown. The MSCI Asia-Pacific index edges up, with Hang Seng surging over 2% following China's COVID policy relaxation. Australian and Japanese markets experience declines, reflecting ongoing global economic uncertainties.

The Institute of Chartered Accountants in England and Wales (ICAEW) forecasts a challenging start for Asian economies in 2023, but highlights Malaysia's economic resilience. Despite global supply chain disruptions and inflation, the country is expected to maintain economic strength through the anticipated global economic downturn.

Malaysia's economy remains robust due to its diversified sectors, with services contributing 57% and manufacturing 24.3%. The country's reduced dependence on commodities and varied trading partners provide economic resilience against potential downturns.

Indonesia's economy rebounds strongly with 7.07% growth in Q2, marking its best performance in 17 years. However, the recovery is threatened by increasing COVID-19 cases, potentially impacting future economic progress and stability.