HONG KONG: Bankers and investors fear China's push to impose national security laws on Hong Kong threaten the city's future as an international financial centre. If it gets to that stage, Beijing's move will come at a cost for China's economy. WHY DOES CHINA NEED HONG KONG AS IT IS? China still has extensive capital controls and often intervenes in its financial markets and banking system. Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing. The size of Hong Kong's economy may only be the equivalent of 2.7% of mainland China's, down from 18.4% in 1997 when it reverted to Chinese rule, but the territory punches above its weight due to world-class financial and legal systems. As a gateway between China and the West, Hong Kong attracts global capital for China more efficiently than its other cities. HOW IS THAT CHANGING? Under the 'one country, two systems' formula agreed as part of Britain's handover of the territory … [Read more...] about How important is Hong Kong to China as a free finance hub?
Bank of canada
Goldman, which has spent years lobbying for control of its onshore business, won approval this year. Chief Executive Officer David Solomon has pledged to infuse its mainland business with hundreds of millions of dollars in new capital as the bank plans to embark on a hiring spree to double its workforce to 600 and ramp up a wide variety of businesses. … [Read more...] about Wall Street has billions to lose in China from rising strain
By Amar Patnaik According to the 2018 Periodic Labour Force Survey (PLFS), 22% of women in India above 15 were part of the labour force, as against 71.2% men between July 2017 and June 2018. In Nordic countries, almost three in four working-age women are part of the paid labour force. This rate is currently 46.8% in the US, 47.3% in Canada and 48% in France. India lags far behind countries like China (61%), Vietnam (73%), Singapore (60%), Bangladesh (36%) and Pakistan (24%). Ironically, soon after the Covid-19 lockdown kicked in, the country, particularly in states like Odisha and Kerala, experienced the productivity and resoluteness of women force in its fight against the pandemic, be it in making masks, gloves and sanitisers, door-to-door vegetables retailing in containment areas, and distributing dry ration and cooked food to vulnerable households. They also spread awareness among communities about preventive protocols for breaking the chain of the virus. All the work they did … [Read more...] about How to bolster the presence of women in India’s labour force