Tag: China

IBM collaborates with Rapidus, a new Japanese government-backed chipmaker, to develop cutting-edge semiconductor technology. This partnership aims to help Japan regain its competitive edge in chip production amid global technological tensions and supply chain challenges.

[The Semiconductor Equipment Manufacturers Industry (SEMI) predicts global semiconductor manufacturing equipment sales will hit US$108.5 billion in 2022, surpassing the previous record of US$102.5 billion in 2021. Front-end and back-end categories are expected to drive growth, though sales are projected to decline to US$91.2 billion next year.]

Taiwanese economic officials express concerns about recent US semiconductor legislation potentially harming Taiwan's critical chip export industries. The $50 billion Chips and Science Act aims to reduce reliance on Taiwanese technology, creating uncertainty for the island's tech manufacturing sector.

Asia-Pacific Economic Cooperation (APEC) leaders gathered in Bangkok, Thailand, to address global economic challenges. The summit focused on condemning the Russia-Ukraine conflict, promoting open trade, and seeking sustainable economic growth across the region. Most participants denounced the war, marking a significant diplomatic moment.

The World Trade Organization warns of potential recession in major economies, with Ukraine crisis, inflation, and food prices contributing to economic uncertainty. Developing nations face significant economic challenges.

Brunei secured impressive global rankings in business and labor market regulations, scoring 8.8 out of 10 in the Fraser Institute's Economic Freedom Index. The Sultanate ranked 59th globally among 165 economies, demonstrating strength in regulatory compliance and economic frameworks.

Malaysia is unlikely to experience a recession due to its diversified economic structure. With services contributing 57%, manufacturing 24.3%, and agriculture and mining 14% to GDP, the country maintains economic stability through varied sectors and balanced international trade relationships.

Malaysia saw RM123.3 billion in approved investments from January to June 2022, with foreign direct investments contributing 70.9% and the services sector leading at 63.3%. The investments are expected to create 57,771 job opportunities across manufacturing, services, and primary sectors.

U.S. and Japanese warships, led by USS Abraham Lincoln, perform first joint naval exercise in five years near Korean Peninsula, demonstrating military alliance and preparedness against potential North Korean provocations.

Asia is investing over US$350 billion in gas projects to reduce coal dependency, but experts warn this could potentially slow renewable energy adoption and lock in fossil fuel use for decades.