Data and Indicators
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Emerging Asia’s Efforts to Deal with Increasing Debt
Asian economies have been borrowing more in recent years. Despite concerns that increased external and dollar-denominated debt leave Asia susceptible to destabilizing outflows, other economic and financial metrics depict a region more resilient than when it experienced the Asian Financial Crisis 20 years ago. Prudential policy and regulation have played an important role in improving the region’s financial resilience, though some efforts may run counter to the goal of developing deep local bond markets.
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Can Tech Jobs Lower Prison Recidivism Rates?
The Last Mile piloted its Code.7370 program at the San Quentin State Penitentiary in 2014. Now in four California prisons, it teaches computer coding skills to inmates, providing a framework for change and path to employment.
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If You Build It, They Will Lend: Why Japan May Fund More Infrastructure than China
Demand for infrastructure is growing as developed countries replace deteriorating infrastructure and emerging economies invest in new projects. China has attracted significant attention through its One Belt, One Road initiative and the founding of the Asia Infrastructure Investment Bank, but Japan has recently dominated global project finance. With low borrowing costs and limited domestic credit demand, Japanese banks may be best positioned to lead the financing of a global infrastructure push.
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South Korea’s Efforts to Contain Debt and Housing Prices Take Shape
Earlier attempts to halt Korea’s dramatic increase in household debt missed the mark but recent regulations have succeeded in limiting credit growth and housing price increases. While household loan quality is performing well the earlier parallel rise in home prices and household debt have left lingering fears that the debt burden will be a drag on economic growth, and that a major fall in home prices could create asset quality issues for the country’s banks.
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Tax Increase Forces Financial Services in India to Adjust
The Goods and Services Tax (GST) implemented this past June is the largest tax reform in India’s history. By creating a federal taxation system, the GST has major implications for the economy as whole and financial services in particular.
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India’s Farm Loan Waiver Crisis
India’s annual economic growth exceeds 7% and the country just passed sweeping tax reforms. Despite this progress, it faces a growing crisis over farm lending. Farmers are demanding loan waivers that may cost up to 2.6% of GDP. They’ve captured headlines with their protests, destroying milk and agricultural produce, and taking even more extreme measures. Although India’s agricultural sector is in distress, loan waivers are a costly, temporary solution to complex problems and will likely further strain the country’s public sector banks, already stressed by asset quality problems.
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College, Careers for At-risk SF Bay Area Teens
Life Learning Academy Charter High School sits on beautiful and serene Treasure Island in the San Francisco Bay. The public charter school is known for this idyllic setting, small student-teacher ratios, a rigorous academic program, and a reputation for putting at-risk Bay Area teens on paths to college and careers.
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The Good News on Wage Growth
The July jobs report from the U.S. Bureau of Labor Statistics brought welcome news on wage growth: Median weekly earnings rose 4.2% on an annual basis, the fastest pace seen since 2007. The underlying story may be even better than the headline number suggests.
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Looking Back on the 1997 Asian Financial Crisis
Twenty years ago this month, a financial crisis spread across Asia and threatened the economic trajectory of the entire region. Here’s a look back at the crisis and how it has shaped financial reform strategies.
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Taiwanese Banks Venture South
Banks from Taiwan are expanding across the Asia-Pacific in a search for yield. The initiative has the potential to boost the financial position of Taiwanese banks, but overseas expansion also brings new risks and challenges.