Sri Lanka ‘can’t get out of crisis without China,’ analyst says

Sri Lanka won’t be able to resolve its debt restructuring problems without help from China as the country teeters on the brink of economic collapse, according to analysts. Sri Lanka has defaulted on its debt, plunging the island nation into its worst financial crisis since independence in 1948. In addition to fuel shortage, the country … Read more

Japan is about to welcome back foreign travelers, but domestic tourism remains its priority

After more than two years of closed border policies, Japan is set to welcome back international travelers this week. Come June 10, foreign tourists traveling via packaged tours can enter Japan. However, the government’s priority still lies in boosting domestic tourism numbers, said Tadashi Shimura, president of the Japan Association of Travel Agents. Even before … Read more

Left out of the Indo-Pacific deal, China pushes towards the world’s largest trade deal

US President Joe Biden, India’s Prime Minister Narendra Modi and Japan’s Prime Minister Fumio Kishida attend the Indo-Pacific Economic Framework for Prosperity (IPEF) launch event at Izumi Garden Gallery in Tokyo, Japan, May 23, 2022. Jonathan Ernst | Reuters Amid the fanfare of US President Joe Biden’s new Indo-Pacific strategy, China flew under the radar … Read more

Israel signs historic trade deal with UAE, its biggest with any Arab country

Israeli national flags fly alongside United Arab Emirates national flags on the side of a road in Netanya, Israel, on Monday, Aug. 17, 2020. Kobi Wolf | Bloomberg | Getty Images DUBAI, United Arab Emirates – Israel and the United Arab Emirates penned a multi-billion dollar free trade agreement on Tuesday, the latest product of … Read more

The Indo-Pacific Economic Framework: What it is – and why it matters

US President Joe Biden formally introduced the Indo-Pacific Economic Framework, or IPEF, this week during his first Asia tour, revealing Washington’s long-awaited Asia-Pacific economic strategy. It comes five years after the US unilaterally withdrew from the Trans-Pacific Partnership, a trade deal signed by 12 countries in Asia-Pacific, North America and South America. With the US … Read more

UK inflation jumps to 40-year high of 9% as food and energy prices spiral

The UK’s Office for National Statistics said its estimates suggest that inflation would have last been higher “sometime around 1982.” Justin Tallis | Afp | Getty Images LONDON – UK inflation soared to a 40-year high of 9% in April as food and energy prices spiraled, official figures revealed Wednesday, escalating the country’s cost-of-living crisis. … Read more

Beijing loyalist John Lee will be Hong Kong’s next leader

John Lee, a Beijing loyalist, has been picked to be the city’s next chief executive. Bloomberg | Getty Images John Lee, a Beijing loyalist, has been elected as Hong Kong’s next Chief Executive. Lee, the only candidate for Hong Kong’s top post, won more than 1,416 votes in Sunday’s election. He only needed a simple … Read more