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German industry insider: bullish on outlook of Chinese economy

STORY: German industry insider: bullish on outlook of Chinese economy SHOOTING TIME: June 1, 2024 DATELINE: June 2, 2024 LENGTH: 00:01:56 LOCATION: Berlin CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of China's industrial sector 2. SOUNDBITE (English): MICHAEL SCHUMANN, Chairman of BWA STORYLINE: The International Monetary Fund (IMF) has raised its forecast for China's GDP growth in 2024 to 5 percent from the April projection of 4.6 percent. A German industry insider shared his thoughts on the IMF's forecast revision. SOUNDBITE (English): MICHAEL SCHUMANN, Chairman of Federation of the Federal Association for Economic Development and Foreign Trade (BWA) "First, to say this quite clearly, it is a very good news and a very positive news because it will be a stimulus to the world economy if the growth rate in China is positive. We have always been bullish on the outlook of the Chinese economy. Our association BWA, we have been working with China, we have been fostering and supporting Sino-German econom

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Japan PM Kishida visits supermarket in Tokyo

Japanese Prime Minister Fumio Kishida meets the press after visiting an Ito-Yokado supermarket store in Tokyo's Koto Ward on Oct. 16, 2023, ahead of the government finishing drawing up an economic stimulus package in October. (Pool photo)

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Japan PM Kishida visits supermarket in Tokyo

Japanese Prime Minister Fumio Kishida (front) visits a perishable food section of an Ito-Yokado supermarket store in Tokyo's Koto Ward on Oct. 16, 2023, ahead of the government finishing drawing up an economic stimulus package in October. (Pool photo)

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Japan PM visits small rubber product maker in Tokyo

Japanese Prime Minister Fumio Kishida (C) meets the press after inspecting a small rubber product manufacturer in Tokyo's Sumida Ward on Oct. 5, 2023. The government plans to compile an economic stimulus package in October that will include ways to spur investment in small companies and alleviate their manpower shortage.

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Japan PM visits small rubber product maker in Tokyo

Japanese Prime Minister Fumio Kishida (2nd from L) visits a small rubber product manufacturer in Tokyo's Sumida Ward on Oct. 5, 2023. The government plans to compile an economic stimulus package in October that will include ways to spur investment in small companies and alleviate their manpower shortage.

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Japan PM visits small rubber product maker in Tokyo

Japanese Prime Minister Fumio Kishida (far R) visits a small rubber product manufacturer in Tokyo's Sumida Ward on Oct. 5, 2023. The government plans to compile an economic stimulus package in October that will include ways to spur investment in small companies and alleviate their manpower shortage.

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Japan PM visits small rubber product maker in Tokyo

Japanese Prime Minister Fumio Kishida visits a small rubber product manufacturer in Tokyo's Sumida Ward on Oct. 5, 2023. The government plans to compile an economic stimulus package in October that will include ways to spur investment in small companies and alleviate their manpower shortage.

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Japan PM visits small rubber product maker in Tokyo

Japanese Prime Minister Fumio Kishida (front, R) visits a small rubber product manufacturer in Tokyo's Sumida Ward on Oct. 5, 2023. The government plans to compile an economic stimulus package in October that will include ways to spur investment in small companies and alleviate their manpower shortage.

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New Thai PM proposes digital money handout, energy price cuts in policy statement

STORY: New Thai PM proposes digital money handout, energy price cuts in policy statement DATELINE: Sept. 12, 2023 LENGTH: 00:01:25 LOCATION: Bangkok CATEGORY: ECONOMY SHOTLIST: 1. various of Thailand's parliament STORYLINE: Thailand's new Prime Minister Srettha Thavisin delivered his government policy statement to parliament on Monday, highlighting immediate measures to drive economy with a digital money handout and energy price cuts. The country's key drivers of growth, including tourism and spending, are experiencing a sluggish recovery, leading to the risk of an economic recession, Srettha told a joint sitting of the National Assembly, adding that stimulus measures are necessary to reinvigorate the economy. "The 10,000-baht (around 280 U.S. dollars) digital money distribution to all areas down to the grassroots level will kick-start the economy, creating jobs and economic activities, while the government will earn revenue," he said. This policy will lay a digital economic foundation for the Southeast

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Malaysian Central Bank raises OPR to 3 pct

STORY: Malaysian Central Bank raises OPR to 3 pct DATELINE: May 4, 2023 LENGTH: 00:01:56 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of the Malaysian Central Bank 2. various of Malaysia's national flag and Kuala Lumpur city traffic 3. various of Kuala Lumpur street views STORYLINE: Malaysian Central Bank on Wednesday decided to increase the Overnight Policy Rate (OPR) by 25 basis points to three percent. The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 3.25 percent and 2.75 percent, respectively, Bank Negara Malaysia (BNM) said in a statement. With the domestic growth prospects remaining resilient, the Monetary Policy Committee (MPC) of the BNM judged that it was time to further normalize the degree of monetary accommodation. With this decision, the MPC has withdrawn the monetary stimulus intended to address the COVID-19 crisis in promoting economic recovery. In light of the continued strength of the Malaysian economy, the MPC also re

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Cabinet OKs 3.12 tril. yen extra budget for stimulus steps

TOKYO, Japan - Japanese Prime Minister Shinzo Abe (2nd from R) and his ministers attend an extraordinary Cabinet meeting on Jan. 9, 2015, in Tokyo to endorse a 3.12 trillion yen supplementary budget for fiscal 2014 to fund an economic stimulus package aimed at bolstering domestic demand curtailed by the April 1 consumption tax hike and weaker yen.

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Cabinet OKs stimulus package to rev up regional economies

TOKYO, Japan - Japan's Prime Minister Shinzo Abe (C) addresses a government panel meeting on Dec. 27, 2014, in Tokyo. His Cabinet endorsed a 3.5 trillion yen emergency economic stimulus package intended to rev up regional economies beset by higher prices following the April 1 consumption tax hike and the yen's plunge.

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Diet enacts extra budget

TOKYO, Japan - Prime Minister Shinzo Abe (R front) and Finance Minister Taro Aso (L front) bow in appreciation after a 5.47 trillion yen extra budget for the fiscal year through March 2014 is approved by the House of Councillors with a majority vote on Feb. 6, 2014. The extra budget will fund a stimulus package designed to prevent a sales tax hike in April from significantly dragging down the nation's economic recovery.

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Ex-PM Noda in Washington

WASHINGTON, United States - Japanese opposition lawmaker and former Prime Minister Yoshihiko Noda delivers a speech in Washington on Oct. 1, 2013. Noda criticized current leader Shinzo Abe's latest economic stimulus program as "pork-barrel" money being spent before the planned sales tax hike.

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Abe Cabinet OKs stimulus package

TOKYO, Japan - Prime Minister Shinzo Abe (L) shakes hands with Finance Minister Taro Aso (C) after a press conference at his office in Tokyo on Jan. 11, 2013, to announce a stimulus package worth 20.2 trillion yen. Abe's Cabinet endorsed a stimulus package earlier in the day entailing the biggest government spending since fiscal 2009 in an attempt to add around 2 percentage points to Japan's gross domestic product growth in real terms and create at least 600,000 jobs. To the right is economic revival minister Akira Amari.

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U.S. economist Thurow calls for more stimulus measures in Japan

TOKYO, Japan - U.S. economist Lester Thurow speaks in an interview with Kyodo News in Tokyo on June 25, 2010. Thurow, professor emeritus at the Massachusetts Institute of Technology Sloan School of Management, urged Japan to focus more on economic stimulus measures although discussions on a consumption tax hike are gathering steam in the country ahead of the House of Councillors election in the following month.

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Fiscal discipline, economic stimulus both important for Japan: Kan

TOKYO, Japan - Finance Minister Naoto Kan speaks during a news conference at the prime minister's office on Jan. 26, 2010. He said that working toward fiscal discipline and implementing economic measures are both important for Japan, following a cut by a U.S. rating agency in its outlook for the nation's sovereign debt.

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Gov't launches 'eco-point' system to spur sluggish economy

TOKYO, Japan - Japan's Economy, Trade and Industry Minister Toshihiro Nikai (L) is shown a television included in the ''eco-points'' program at an electronics store in Tokyo's Setagaya Ward on May 15. The government kicked off its economic stimulus program the same day to spur spending, giving incentives in the form of eco-points for the purchase of eco-friendly home electronic appliances.

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Gov't launches 'eco-point' system to spur sluggish economy

TOKYO, Japan - A consumer-electronics retailer in Tokyo posts a notice on the ''eco-point'' program on May 15, as the government kicked off its latest economic stimulus program to spur spending in the recession-hit economy.

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Panel proposes creating 15 tril. yen in demand by stimulus

TOKYO, Japan - Prime Minister Taro Aso speaks at a meeting of a key government economic panel at the Prime Minister's Office on April 7. The Council on Economic and Fiscal Policy said there is a need for the government to create demand worth up to 15 trillion yen by implementing stimulus measures to prevent Japan's economy from going into freefall.

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LDP positive about new economic stimulus package

TOKYO, Japan - Japan Business Federation Chairman Fujio Mitarai (standing) speaks during a meeting of federation executives and ruling Liberal Democratic Party members to discuss the government's economic policies and employment issues at a Tokyo hotel on Feb. 24. LDP Secretary General Hiroyuki Hosoda is sitting second from right.

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Yosano vows battle against economic crisis, mulls fresh stimulus

TOKYO, Japan - Economic and Fiscal Policy Minister Kaoru Yosano, who replaced Shoichi Nakagawa as finance and financial services minister, speaks at a news conference at the Finance Ministry in Tokyo on Feb. 17. Yosano pledged to fight against the current economic crisis engulfing Japan, while hinting that the government will consider drafting a fresh stimulus package.

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Local gov'ts to decide on income cap for cash benefit plan

TOKYO, Japan - Kosuke Hori (R), chairman of the Liberal Democratic Party's Policy Research Council, and his New Komeito counterpart, Natsuo Yamaguchi, announce at a press conference in the lower house members office building on Nov. 12 agreements reached by senior lawmakers of the ruling parties on a cash benefit program under the central government's new economic stimulus package.

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Gov't not to set income cap for cash benefit plan

TOKYO, Japan - Japanese Economic and Fiscal Policy Minister Kaoru Yosano speaks during a news conference in Tokyo on Nov. 11. Yosano said he is compiling a draft for a cash benefit program under the government's new economic stimulus package in line with Prime Minister Taro Aso's call on high-income earners to decline benefits.

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Aso unveils 26.9 tril. yen new stimulus package to tackle crisis

TOKYO, Japan - Prime Minister Taro Aso speaks about a new economic stimulus package at a news conference at the prime minister's office in Tokyo on Oct. 30. The package is worth 26.9 trillion yen to cushion the negative impact of the global financial crisis on people's livelihoods, featuring 2 trillion yen in cash benefits to be delivered to all households by the end of March.

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Aso unveils 26.9 tril. yen new stimulus package to tackle crisis

TOKYO, Japan - Prime Minister Taro Aso speaks about a new economic stimulus package at a news conference at the prime minister's office in Tokyo on Oct. 30. The package is worth 26.9 trillion yen to cushion the negative impact of the global financial crisis on people's livelihoods, featuring 2 trillion yen in cash benefits to be delivered to all households by the end of March.

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Aso unveils 26.9 tril. yen new stimulus package to tackle crisis

TOKYO, Japan - Prime Minister Taro Aso speaks about a new economic stimulus package at a news conference at the prime minister's office in Tokyo on Oct. 30. The package is worth 26.9 trillion yen to cushion the negative impact of the global financial crisis on people's livelihoods, featuring 2 trillion yen in cash benefits to be delivered to all households by the end of March.

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Gov't releases outline of emergency measures to fight inflation

TOKYO, Japan - Japanese Prime Minister Yasuo Fukuda (2nd from L) addresses a meeting of officials from the government and ruling parties to compile emergency economic stimulus measures in the face of rising inflationary pressure due to surging gasoline and food prices. At left is Economic and Fiscal Policy Minister Kaoru Yosano.

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Fukuda asks Yosano to compile economic stimulus package

TOKYO, Japan - Economic and Fiscal Policy Minister Kaoru Yosano is surrounded by reporters at the prime minister's office in Tokyo on Aug. 4 after his talks with Prime Minister Yasuo Fukuda. Fukuda instructed Yosano to compile a comprehensive economic stimulus package, including measures to deal with soaring oil and food prices, as soon as possible.

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Takenaka rules out stimulus steps despite weak GDP data

TOKYO, Japan - Heizo Takenaka, minister in charge of economic and fiscal policy, briefs reporters on Japan's gross domestic product (GDP) data for the January-March quarter in Tokyo on June 11. Takenaka ruled out the possibility of the government drafting a stimulus package to buoy domestic demand despite weak GDP data.

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Hashimoto eager to run in LDP presidential race

TOKYO, Japan - Ryutaro Hashimoto, minister in charge of administrative reform, heads for a meeting of cabinet ministers on the economic stimulus package at the prime minister's official residence April 6 in Tokyo. The former prime minister said if his faction supports him, he may stand in the ruling Liberal Democratic Party's presidential election April 24 that will determine the next prime minister.

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Prime Minister Mori speaks to Keidanren meeting

TOKYO, Japan - Prime Minister Yoshiro Mori speaks at a meeting of the Federation of Economic Organizations (Keidanren) in Tokyo on Dec. 13. Mori pledged to exert his leadership in utilizing a 700 bil. yen stimulus package for his ''Japan Birth'' plan, to be included in the budget for fiscal 2001, which starts in April.

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Gov't unveils 11 tril. yen economic package

TOKYO, Japan - Prime Minister Yoshiro Mori (2nd from L) on Oct. 19 attends a meeting of economic affairs ministers and officials from the ruling parties, which endorsed an 11 trillion yen government economic stimulus package designed to achieve a self-sustaining economic recovery. Also attending the meeting were Finance Minister Kiichi Miyazawa (L), Chief Cabinet Secretary Hidenao Nakagawa (2nd from R) and Economic Planning Agency chief Taichi Sakaiya (R).

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Tokyo stocks close above 17,000

Buoyed by expectations that the Japanese government will map out additional economic stimulus measures soon, share prices on the Tokyo Stock Exchange soared May 6, with the key Nikkei index closing above 17,000 for the first time in almost 14 months.

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Distribution of merchandise coupons begins in Hamada

A woman shows merchandise coupons distributed by the municipal government of Hamada in Shimane Prefecture, western Japan, on Jan. 29. Hamada is the first municipality to initiate the central government's economic stimulus program and plans to issue some 280 million yen worth of coupons.

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Extra stimulus budget passes lower house

A plenary session of the House of Representatives passes on Dec. 8 a supplementary budget designed to finance part of the government's most recent economic stimulus package worth 24 trillion yen by standing vote.

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Panel submit policy recommendations

Hirotaro Higuchi (L), chairman of the Economic Strategy Council, presents his panel's policy recommendations to Prime Minister Keizo Obuchi (R) on Wednesday Oct. 14. The panel urged the government to pump 'tens of trillions of yen' into the nation's troubled banking industry and called for an additional stimulus package of more than 10 trillion yen to rev up the faltering economy.

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Obuchi gives first policy speech

New Prime Minister Keizo Obuchi delivers his policy speech in an extraordinary session of the Diet (parliament) on Friday Aug. 7. Obuchi launched what he calls his ''economic reconstruction'' cabinet July 30, giving the Finance Ministry portfolio to former Prime Minister Kiichi Miyazawa (seated). During the 30-minute speech, however, the yen dropped against the U.S. dollar and stock prices fell as it contained no additional economic stimulus measures.

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Supplementary budget enacted

Prime Minister Ryutaro Hashimoto (R), Finance Minster Hikaru Matsunaga (L) bow to members of the upper house who voted into law a 4.6 trillion yen fiscal 1998 supplementary budget Wednesday June 17. This pave the way for long-awaited full-scale implementation of the latest government economic stimulus package worth 16.65 trillion yen.

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Japan unveils 29.1 tril. yen stimulus package

Japanese Prime Minister Fumio Kishida holds a press conference at his office in Tokyo on Oct. 28, 2022, to explain the government's 29.1 trillion yen ($199 billion) in economic stimulus measures. The package to be financed under the fiscal 2022 supplementary budget is designed to reduce household utility bills and food costs amid surging inflation.

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Japan unveils 29.1 tril. yen stimulus package

Japanese Prime Minister Fumio Kishida holds a press conference at his office in Tokyo on Oct. 28, 2022, to explain the government's 29.1 trillion yen ($199 billion) in economic stimulus measures. The package to be financed under the fiscal 2022 supplementary budget is designed to reduce household utility bills and food costs amid surging inflation.

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Japan unveils 29.1 tril. yen stimulus package

Japanese Prime Minister Fumio Kishida holds a press conference at his office in Tokyo on Oct. 28, 2022, to explain the government's 29.1 trillion yen ($199 billion) in economic stimulus measures. The package to be financed under the fiscal 2022 supplementary budget is designed to reduce household utility bills and food costs amid surging inflation.(Pool photo)

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Japan unveils 29.1 tril. yen stimulus package

Japanese Prime Minister Fumio Kishida holds a press conference at his office in Tokyo on Oct. 28, 2022, to explain the government's 29.1 trillion yen ($199 billion) in economic stimulus measures. The package to be financed under the fiscal 2022 supplementary budget is designed to reduce household utility bills and food costs amid surging inflation.

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Japan unveils 29.1 tril. yen stimulus package

Japanese Prime Minister Fumio Kishida holds a press conference at his office in Tokyo on Oct. 28, 2022, to explain the government's 29.1 trillion yen ($199 billion) in economic stimulus measures. The package to be financed under the fiscal 2022 supplementary budget is designed to reduce household utility bills and food costs amid surging inflation.(Pool photo)

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Japan unveils 29.1 tril. yen stimulus package

Japanese Prime Minister Fumio Kishida holds a press conference at his office in Tokyo on Oct. 28, 2022, to explain the government's 29.1 trillion yen ($199 billion) in economic stimulus measures. The package to be financed under the fiscal 2022 supplementary budget is designed to reduce household utility bills and food costs amid surging inflation.(Pool photo)

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Japan unveils 29.1 tril. yen stimulus package

Japanese Prime Minister Fumio Kishida holds a press conference at his office in Tokyo on Oct. 28, 2022, to explain the government's 29.1 trillion yen ($199 billion) in economic stimulus measures. The package to be financed under the fiscal 2022 supplementary budget is designed to reduce household utility bills and food costs amid surging inflation.

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APEC economies vow efforts to curb inflation, support sustainable growth

STORY: APEC economies vow efforts to curb inflation, support sustainable growth DATELINE: Oct. 21, 2022 LENGTH: 00:02:27 LOCATION: Bangkok CATEGORY: ECONOMY SHOTLIST: 1. various of APEC Finance Ministers' Meeting 2. various of Thailand's Minister of Finance Arkhom Termpittayapaisith speaking 3. various of press conference 4. various of Thailand's Minister of Finance Arkhom Termpittayapaisith 5. various of economy activity STORYLINE: Finance ministers and senior representatives from the Asia-Pacific Economic Cooperation (APEC) economies wrapped up a meeting in Bangkok Thursday, pledging efforts to manage inflationary pressures and support sustainable development. During the two-day APEC Finance Ministers' Meeting 2022, participants discussed issues including easing inflationary pressure, redirecting stimulus measures from COVID-19 to long-term growth drivers and maintaining fiscal sustainability. "We need to deepen our cooperation in developing strategic, measured and innovative responses in order to keep

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Thailand's economy expands 2.5 pct in Q2

STORY: Thailand's economy expands 2.5 pct in Q2 DATELINE: Aug. 16, 2022 LENGTH: 00:02:58 LOCATION: Bangkok CATEGORY: ECONOMY SHOTLIST: 1. various of ports in Thailand 2. various of banks in Thailand 3. various of factories in Thailand 4. various of supermarkets in Thailand 5. various of transportation in Thailand STORYLINE: The Thai economy grew at a slower-than-expected pace of 2.5 percent in the second quarter of the year, data showed on Monday. For the first half of 2022, the country's gross domestic product (GDP) expanded 2.4 percent from one year earlier, according to data released by the Office of the National Economic and Social Development Council (NESDC). The second-quarter growth, below market expectations of 3.1 percent, accelerated from a rise of 2.3 percent in the first quarter, according to the NESDC data. The pick-up in the second quarter was driven by improvement in the service sector, partly due to the government's easing of the COVID-19 restrictions and stimulus measures to support tou

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China Premier Urges Japan to Join "Silk Road" Infrastructure Project

TOKYO, Japan, -May 10: Chinese Premier Li Keqiang on Thursday urged Japan to join China's "Silk Road" infrastructure project, saying its participation would likely contribute to Prime Minister Shinzo Abe's economic stimulus policy. "Our working-level cooperation will evolve. Our One Belt, One Road　initiative will be coordinated with Japan's growth strategy," Li said in a speech in Tokyo at a reception celebrating the 40th anniversary of the signing of a bilateral friendship treaty. At a summit between Abe and Li on Wednesday, Japan and China agreed to launch a public-private sector council to consider specific projects of cooperation related to Beijing's "One Belt, One Road" cross-border infrastructure initiative. China has sought to expand its infrastructure networks in Asia,

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China's economy remains strong: Kenyan scholar

STORY: China's economy remains strong: Kenyan scholar DATELINE: May 13, 2022 LENGTH: 00:01:11 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): CAVINCE ADHERE, Kenya-based international relations scholar STORYLINE: Despite mounting domestic and external uncertainties, "the Chinese economy is still going to remain strong," said Cavince Adhere, a Kenya-based international relations scholar. SOUNDBITE (English): CAVINCE ADHERE, Kenya-based international relations scholar "The Chinese government has previously been very careful to balance the economic and health requirements, even where we have seen restrictions, social restrictions, the government has also come up with very enabling policies, including stimulus packages to support industry players to ensure that production does not slow, to ensure that the industrial capacity of China is unhampered. And I think these policy innovations are still being rolled out. So taking into consideration both the domestic as well as external factors,