Pakistan is staring down a perfect storm of crises.
From escalating protests in Pakistan-occupied Kashmir to a rapidly deteriorating security situation in Khyber Pakhtunkhwa, pressure is mounting on the Shehbaz Sharif government. Is the Shehbaz Sharif government losing its grip and can it contain the political, economic and security crises threatening to overwhelm Pakistan?

Protests, Security Crisis & Political Turmoil Rock Pakistan

Pakistan's ex-Federal Board of Revenue Chairman Shabbar Zaidi blamed China for his country's economic crisis. This comes amid reports that only 38 out of 90 projects envisaged under the China-Pakistan Economic Corridor have been completed so far. China remains Pakistan's biggest creditor.

Ex-Top Pak Official Blames Economic Woes on China: Here's How CPEC Has Been a Failure

Pakistan continues to rely on international financial assistance as concerns grow over the country's long-term economic stability. With repeated bailout packages and limited structural reforms, leading global financial institutions are warning about deep-rooted vulnerabilities. Is Pakistan trapped in a cycle of borrowing, or can meaningful reforms change the country's economic trajectory?

Pakistan's economy running on lifelines 

Hundreds of members of Pakistan's transgender (Khwaja Sira) community and their supporters gathered in Karachi to protest against soaring inflation, rising fuel prices, expensive food, and the increasing cost of living.

The demonstrators carried placards demanding urgent government action, better employment opportunities, and financial relief for vulnerable communities. Protesters said the rapid increase in the prices of essential goods, housing, and transportation has made survival increasingly difficult, especially for transgender Pakistanis who continue to face discrimination and limited access to formal employment.

Pakistan's Transgender Community Protests Rising Inflation and Cost of Living in Karachi

European gas prices are flashing red again. LNG futures touched 62 euros, or about 70 dollars, per megawatt-hour on July 22nd, the highest since the Iran-Israel conflict rattled markets earlier this year. It is up nearly 50 percent from June's 40-42 euros range. The reason isn't a new supply shock. It's a bidding war Europe is losing.

Europe Loses LNG Bidding War to Asia | World Business Watch 

The European Central Bank has kept interest rates unchanged, as widely expected. But while the decision itself was uneventful, the message from ECB President Christine Lagarde was notably more cautious.

Oil shock back for Global Central Banks | World Business Watch 

Indonesia’s economy is facing growing pressure due to rising energy costs, weakening currency, and declining investor confidence. Market volatility has intensified concerns about macroeconomic stability in Southeast Asia’s largest economy. Analysts point to external shocks and domestic fiscal strain as key drivers of the current turbulence. The situation has also triggered cautious sentiment among foreign investors, raising questions about Indonesia’s near-term growth trajectory. Policymakers are expected to closely monitor inflation, currency depreciation, and capital flows in the coming months.

Indonesia Economic Crisis: Fuel Price Shock Adds To Financial Woes 

As the world navigates rising inflation, supply chain disruptions, and intensifying geopolitical tensions, a new form of economic competition is emerging—less about outproducing rivals, and more about limiting their ability to compete at all.&nbsp;Sustained national prosperity rarely comes from caution. It is shaped—often messily—by risk-takers: innovators and entrepreneurs with vision, instinct, and commercial acumen, willing to make large bets under uncertainty. Their methods can be abrasive to experience in real time. But history suggests that no more reliable engine of national economic strength has yet been found than enterprise that is able to scale.&nbsp;When that capacity emerges elsewhere, states often respond not only by competing harder but also by tightening access—markets, capital, and rules of participation—in effect policing rival champions. “Policing” here can be overt—through tariffs and procurement bans—or more subtle, via financial constraints, licensing obstacles, standards barriers, and selectively applied rules. The label changes; the effect is similar: market denial.&nbsp;The United States is itself a product of the scale-building phase. America’s rise was driven not merely by ideals or institutions but by builders who mobilised capital at scale and created the industrial backbone of modern life—railroads, steel, oil, finance, and manufacturing. The classic “robber baron” era produced figures such as John D. Rockefeller, Andrew Carnegie, Cornelius Vanderbilt, J. P. Morgan, Andrew Mellon, and Jay Gould: controversial, sometimes ruthless, but undeniably formative in the construction of American industrial power. Many also later turned to large-scale philanthropy—endowing universities, libraries, research, museums, and foundations that helped shape American civic and educational life.&nbsp;America also illustrates the familiar sequencing: societies often tolerate a period of excess while capabilities are being built, and then rein in abuse once costs become politically and socially unacceptable. The Progressive Era and Theodore Roosevelt’s trust-busting posture reflected that logic—permit industrial formation to occur, then impose anti-monopoly discipline to curb predation and restore legitimacy. The point is not to romanticise excess, but to recognise that strong systems can both enable scale and later enforce limits.&nbsp;Across parts of the US political spectrum, there is a belief that the United States has lost its economic mojo. Complacency, cultural conflict, and regulatory and institutional drift are seen as taking hold just as other economies have grown faster and more ambitious. Rebuilding competitiveness is a legitimate objective. But there is a difference between renewing domestic strength and suppressing or containing foreign champions. Too often, the instinct is to treat other countries’ large firms not as competitors to out-produce and out-execute, but as threats to be suppressed or contained—through exclusion, punitive measures, or moralised criteria governments selectively apply.&nbsp;The rhetoric is no longer always cloaked in virtue; it is increasingly explicit about national interest. Either way, the practical outcome is often market denial.&nbsp;This is not uniquely American behaviour. The institutional mix differs across countries, but the pattern recurs: Japan rebuilt through corporate reorganisation and export drive; South Korea scaled through conglomerates aligned with national goals; China’s rise has depended heavily on firms and ecosystems able to take risks and scale rapidly. India, too, has never lacked entrepreneurs—from early industrial and trading pioneers to later builders of manufacturing, services, and national infrastructure. Many Indian entrepreneurs have also built major philanthropic institutions—supporting education, healthcare, scientific research, and cultural initiatives alongside enterprise and scale, in ways that few other countries have rivalled. Across systems, economic strength ultimately rests on human initiative and execution—plus the ability to scale.&nbsp;A contemporary variant is visible in the Gulf. Over the past two decades, state-linked enterprises have built globally significant positions in logistics, ports, energy, aviation, finance, and advanced services—combining strategic direction with commercial execution to create national capability in competitive sectors. It is a reminder that the route to scale often differs across systems, but the underlying logic of power-building through enterprise is persistent.&nbsp;Keynes remains useful here. He called the impulse that drives investment and innovation “animal spirits”—the spontaneous urge to act under uncertainty that no amount of planning can fully replace. When the United States is confident, it celebrates these spirits at home. When it feels anxious, it is tempted to police their emergence abroad.&nbsp;For India’s leadership, the implication is straightforward: treat market access and rule-setting as instruments of competition, not neutral features of the system. When access tightens, it may be justified as principle or national interest; either way, it should be read as strategy. India’s next phase of growth—exports, manufacturing depth, infrastructure scale, and technology upgrading—will depend on entrepreneurs with judgment under uncertainty and the ability to execute at scale. As champions emerge and scale—and as existing ones grow—they are treated not only as commercial actors, but as geopolitical ones.&nbsp;There is also a price to this cycle. Champion-building and winner-take-most dynamics concentrate wealth; gaps widen; those outside the growth story become resentful—fuel for political backlash. In a technological transition, that stress intensifies: productivity rises, but wage dispersion can widen and mid-skill work can be hollowed out. If this era is going to be competitive, it will also have to be governable. Governments and entrepreneurs alike will need to think beyond scale—to the institutions and policies that keep growth socially and politically sustainable.In a world where access itself is contested, success will depend not just on the ability to compete—but on the ability to endure.&nbsp;(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

Across parts of the US political spectrum, there is a belief that the United States has lost its economic mojo. Complacency, cultural conflict, and regulatory and institutional drift are seen as taking hold just as other economies have grown faster and more ambitious.

As the world navigates rising inflation, supply chain disruptions, and intensifying geopolitical tensions, a new form of economic competition is emerging—less about outproducing rivals, and more about limiting their ability to compete at all. Sustained national prosperity rarely comes from caution. It is shaped—often messily—by risk-takers: innovators and entrepreneurs with vision, instinct, and commercial acumen, willing to make large bets under uncertainty. Their methods can be abrasive to experience in real time. But history suggests that no more reliable engine of national economic strength has yet been found than enterprise that is able to scale. When that capacity emerges elsewhere, states often respond not only by competing harder but also by tightening access—markets, capital, and rules of participation—in effect policing rival champions. “Policing” here can be overt—through tariffs and procurement bans—or more subtle, via financial constraints, licensing obstacles, standards barriers, and selectively applied rules. The label changes; the effect is similar: market denial. The United States is itself a product of the scale-building phase. America’s rise was driven not merely by ideals or institutions but by builders who mobilised capital at scale and created the industrial backbone of modern life—railroads, steel, oil, finance, and manufacturing. The classic “robber baron” era produced figures such as John D. Rockefeller, Andrew Carnegie, Cornelius Vanderbilt, J. P. Morgan, Andrew Mellon, and Jay Gould: controversial, sometimes ruthless, but undeniably formative in the construction of American industrial power. Many also later turned to large-scale philanthropy—endowing universities, libraries, research, museums, and foundations that helped shape American civic and educational life. America also illustrates the familiar sequencing: societies often tolerate a period of excess while capabilities are being built, and then rein in abuse once costs become politically and socially unacceptable. The Progressive Era and Theodore Roosevelt’s trust-busting posture reflected that logic—permit industrial formation to occur, then impose anti-monopoly discipline to curb predation and restore legitimacy. The point is not to romanticise excess, but to recognise that strong systems can both enable scale and later enforce limits. Across parts of the US political spectrum, there is a belief that the United States has lost its economic mojo. Complacency, cultural conflict, and regulatory and institutional drift are seen as taking hold just as other economies have grown faster and more ambitious. Rebuilding competitiveness is a legitimate objective. But there is a difference between renewing domestic strength and suppressing or containing foreign champions. Too often, the instinct is to treat other countries’ large firms not as competitors to out-produce and out-execute, but as threats to be suppressed or contained—through exclusion, punitive measures, or moralised criteria governments selectively apply. The rhetoric is no longer always cloaked in virtue; it is increasingly explicit about national interest. Either way, the practical outcome is often market denial. This is not uniquely American behaviour. The institutional mix differs across countries, but the pattern recurs: Japan rebuilt through corporate reorganisation and export drive; South Korea scaled through conglomerates aligned with national goals; China’s rise has depended heavily on firms and ecosystems able to take risks and scale rapidly. India, too, has never lacked entrepreneurs—from early industrial and trading pioneers to later builders of manufacturing, services, and national infrastructure. Many Indian entrepreneurs have also built major philanthropic institutions—supporting education, healthcare, scientific research, and cultural initiatives alongside enterprise and scale, in ways that few other countries have rivalled. Across systems, economic strength ultimately rests on human initiative and execution—plus the ability to scale. A contemporary variant is visible in the Gulf. Over the past two decades, state-linked enterprises have built globally significant positions in logistics, ports, energy, aviation, finance, and advanced services—combining strategic direction with commercial execution to create national capability in competitive sectors. It is a reminder that the route to scale often differs across systems, but the underlying logic of power-building through enterprise is persistent. Keynes remains useful here. He called the impulse that drives investment and innovation “animal spirits”—the spontaneous urge to act under uncertainty that no amount of planning can fully replace. When the United States is confident, it celebrates these spirits at home. When it feels anxious, it is tempted to police their emergence abroad. For India’s leadership, the implication is straightforward: treat market access and rule-setting as instruments of competition, not neutral features of the system. When access tightens, it may be justified as principle or national interest; either way, it should be read as strategy. India’s next phase of growth—exports, manufacturing depth, infrastructure scale, and technology upgrading—will depend on entrepreneurs with judgment under uncertainty and the ability to execute at scale. As champions emerge and scale—and as existing ones grow—they are treated not only as commercial actors, but as geopolitical ones. There is also a price to this cycle. Champion-building and winner-take-most dynamics concentrate wealth; gaps widen; those outside the growth story become resentful—fuel for political backlash. In a technological transition, that stress intensifies: productivity rises, but wage dispersion can widen and mid-skill work can be hollowed out. If this era is going to be competitive, it will also have to be governable. Governments and entrepreneurs alike will need to think beyond scale—to the institutions and policies that keep growth socially and politically sustainable. In a world where access itself is contested, success will depend not just on the ability to compete—but on the ability to endure. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

Across parts of the US political spectrum, there is a belief that the United States has lost its economic mojo. Complacency, cultural conflict, and regulatory and institutional drift are seen as taking hold just as other economies have grown faster and more ambitious.

Competing by exclusion: The return of economic containment

The effective closure of the Strait of Hormuz ever since the war broke out in West Asia has created a ‘stagflation risk’ for the global economy since the start of March, according to a report by Fidelity International. The report highlighted that the situation has now moved beyond mere market fears to actual supply constraints. "The Strait of Hormuz being effectively closed since the start of March means that the mechanism has shifted from headline fear to physical constraint," the report said, underscoring the seriousness of the disruption. The report added that the continuous disruption in the Strait is likely to create a supply-side shock, and make the nations with higher inflation and weaker economic growth globally.<h3>Europe and Asia are likely to face a greater impact</h3>It noted that such a situation will lead to higher headline inflation via higher energy/commodity prices as well as negative growth via real income compression, margin pressure and tighter financial conditions. It further highlighted that the impact would vary across regions, with import-dependent economies expected to suffer more because of unfavourable trade conditions. According to the report, Europe and Asia are also likely to face a greater impact, while the United States may remain relatively less affected, underscoring the risks for regions reliant on energy imports. The report also warned that the economic consequences could continue even after the conflict ends. It noted that the aftermath will not mean a complete return to normal, as oil prices are expected to retain a sustained premium in the near term, keeping pressure on global energy markets. This outlook is consistent with its broader view of growing global fragmentation, which it describes as a medium-term scenario of “strategic fragmentation." On the policy note, the report indicated that governments and central banks also face problems if risks continue. It expects "a swift policy response focused on affordability ahead of the mid-term elections," particularly in major economies.&nbsp;Also read: <a href="https://www.wionews.com/world/india-stands-firm-as-west-asia-conflict-fails-to-dent-trade-momentum-piyush-goyal-1773747201092">India stands firm as West Asia conflict fails to dent trade momentum: Piyush Goyal</a>&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

Fidelity International reports highlighted that the impact would vary across regions, with import-dependent economies expected to suffer more because of unfavourable trade conditions.

The effective closure of the Strait of Hormuz ever since the war broke out in West Asia has created a ‘stagflation risk’ for the global economy since the start of March, according to a report by Fidelity International. The report highlighted that the situation has now moved beyond mere market fears to actual supply constraints. "The Strait of Hormuz being effectively closed since the start of March means that the mechanism has shifted from headline fear to physical constraint," the report said, underscoring the seriousness of the disruption. The report added that the continuous disruption in the Strait is likely to create a supply-side shock, and make the nations with higher inflation and weaker economic growth globally. Europe and Asia are likely to face a greater impact It noted that such a situation will lead to higher headline inflation via higher energy/commodity prices as well as negative growth via real income compression, margin pressure and tighter financial conditions. It further highlighted that the impact would vary across regions, with import-dependent economies expected to suffer more because of unfavourable trade conditions. According to the report, Europe and Asia are also likely to face a greater impact, while the United States may remain relatively less affected, underscoring the risks for regions reliant on energy imports. The report also warned that the economic consequences could continue even after the conflict ends. It noted that the aftermath will not mean a complete return to normal, as oil prices are expected to retain a sustained premium in the near term, keeping pressure on global energy markets. This outlook is consistent with its broader view of growing global fragmentation, which it describes as a medium-term scenario of “strategic fragmentation." On the policy note, the report indicated that governments and central banks also face problems if risks continue. It expects "a swift policy response focused on affordability ahead of the mid-term elections," particularly in major economies. Also read: India stands firm as West Asia conflict fails to dent trade momentum: Piyush Goyal Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

Fidelity International reports highlighted that the impact would vary across regions, with import-dependent economies expected to suffer more because of unfavourable trade conditions. It added that Europe and Asia are also likely to face a greater impact.

West Asia conflict triggers 'stagflation' risks for global economy; Europe, Asia to bear brunt: Fidelity Report

Polls opened in presidential and legislative elections in Ghana Saturday, poised to be a litmus test for democracy in a region shaken by extremist violence and coups. Watch for more details!

Polls Open in General Election in Ghana Amid Economic Crisis

In 2023, developing countries faced a record $1.4 trillion in foreign debt service, with interest costs reaching a 20-year high. The world bank’s latest report reveals that total foreign debt interest payments surged to $406 billion. Watch in for more details!

Developing Countries Face Record $1.4 Trillion In Foreign Debt Payments

The people of Bangladesh are reportedly enduring staggering price hikes, the devastation of natural disasters, and the ever-deepening economic crisis, among others. Bangladesh’s interim government meanwhile continues to speak of reforms and changes that will supposedly shape a better future even as the people of Bangladesh suffer in the present.

Bangladesh Government Crashing Under Economic Chaos

Anura Kumara Dissanayake has taken the oath of office as Sri Lanka’s President, marking a significant shift in the country’s political landscape. His victory comes during a critical time, as Sri Lanka grapples with its worst economic crisis in over 70 years, necessitating urgent reforms and recovery strategies.

Dissanayake Sworn In: A New Era for Sri Lanka?

Have you ever wondered how the tides of international relations can shift so rapidly.... Especially in a picturesque paradise like the Maldives? We will explore the evolving ties between India and the Maldives..And the economic challenges that threaten this island nation.

Zero-cost treasury bill for Maldivian support

In a bid to bolster its struggling economy, Bangladesh has urgently requested $5 billion in financial assistance from leading international lenders, including the International Monetary Fund (IMF), World Bank, and Japan International Cooperation Agency (JICA), according to Muhammad Yunus, the head of the interim government as detailed in a report by Reuters.

The $5 billion request comprises $3 billion from the IMF, $1 billion from the World Bank, and an additional $1 billion from JICA. The government is also negotiating for lower interest rates and extended loan tenures from Russia and China to help navigate the economic fallout of rising global prices due to the Russia-Ukraine conflict.

"We are also negotiating for lower interest rates and extended loan tenures from Russia and China," Yunus said in a televised address to the South Asian nation, as the government grapples with mounting foreign payments.

Bangladesh's $450-billion economy has been under immense pressure since the war sharply increased the cost of fuel and food imports, forcing it to seek financial support from the IMF last year in the form of a $4.7-billion bailout.

Goal of the Interim Government<o:p></o:p>

The interim administration's primary goal is to guide the nation through a peaceful transition, culminating in new elections. However, the economic turmoil, worsened by global pressures, has put additional strain on the nation's financial stability.

Yunus also announced plans to establish six new commissions aimed at reforming critical sectors, including the constitution, the electoral system, the judiciary, the police, the Anti-Corruption Commission, and public administration. These commissions will investigate specific areas and offer recommendations for reforms. "We plan to expand this approach by forming additional commissions to tackle other important matters," Yunus said.

The six commissions are expected to be fully operational by October 1 and to complete their work within three months. In the final phase, a detailed outline of the proposed reforms will be developed after a consultation period of three to seven days, ensuring that a wide range of perspectives are incorporated into the reform process.

Hence, as Bangladesh navigates these challenging times, the government's efforts to secure emergency funds and implement comprehensive reforms will go a long way in stabilising the economy and paving the way for a brighter future for the citizens of Bangladesh.

In a bid to bolster its struggling economy, Bangladesh has urgently requested $5 billion in financial assistance from leading international lenders, including the International Monetary Fund (IMF), World Bank, and Japan International Cooperation Agency (JICA), according to Muhammad Yunus, the head of the interim government as detailed in a report by Reuters.

In a bid to bolster its struggling economy, Bangladesh has urgently requested $5 billion in financial assistance from leading international lenders, including the International Monetary Fund (IMF), World Bank, and Japan International Cooperation Agency (JICA), according to Muhammad Yunus, the head of the interim government as detailed in a report by Reuters. The $5 billion request comprises $3 billion from the IMF, $1 billion from the World Bank, and an additional $1 billion from JICA. The government is also negotiating for lower interest rates and extended loan tenures from Russia and China to help navigate the economic fallout of rising global prices due to the Russia-Ukraine conflict. "We are also negotiating for lower interest rates and extended loan tenures from Russia and China," Yunus said in a televised address to the South Asian nation, as the government grapples with mounting foreign payments. Bangladesh's $450-billion economy has been under immense pressure since the war sharply increased the cost of fuel and food imports, forcing it to seek financial support from the IMF last year in the form of a $4.7-billion bailout. Goal of the Interim Government The interim administration's primary goal is to guide the nation through a peaceful transition, culminating in new elections. However, the economic turmoil, worsened by global pressures, has put additional strain on the nation's financial stability. Yunus also announced plans to establish six new commissions aimed at reforming critical sectors, including the constitution, the electoral system, the judiciary, the police, the Anti-Corruption Commission, and public administration. These commissions will investigate specific areas and offer recommendations for reforms. "We plan to expand this approach by forming additional commissions to tackle other important matters," Yunus said. The six commissions are expected to be fully operational by October 1 and to complete their work within three months. In the final phase, a detailed outline of the proposed reforms will be developed after a consultation period of three to seven days, ensuring that a wide range of perspectives are incorporated into the reform process. Hence, as Bangladesh navigates these challenging times, the government's efforts to secure emergency funds and implement comprehensive reforms will go a long way in stabilising the economy and paving the way for a brighter future for the citizens of Bangladesh.

Bangladesh seeks $5 billion in emergency funds to boost dwindling forex reserves

As the cost-of-living crisis intensifies, New Zealand is witnessing a significant exodus of its citizens, with over 131,200 Kiwis leaving for foreign shores in the past year alone. This mass migration, which marks a 70 percent increase since June 2019, stems from a perfect storm of soaring prices, elevated interest rates, and a shortage of quality employment opportunities as detailed in a CNBC report.&nbsp;<o:p></o:p>

The growing trend is particularly alarming for younger generations, as over half of the emigrants are aged between 20 and 39. For instance, Wilson Ong, a 32-year-old manager in the fashion retail industry, expressed his concerns about the limited job market back home. He stated, "In New Zealand, it feels like the job market limits your opportunities and the experiences you can gain."

Persistent inflation, high cost of living is a serious challenge for the economy 
 
The situation has worsened due to the high cost of living, which has seen inflation rates spike to over 7.3 per cent at their peak, affecting the purchasing power of many New Zealanders. Although the rate has decreased to 3.3 per cent as of June 2024, it still remains above the Reserve Bank's target of 1 to 3 per cent. This economic pressure has prompted many citizens to seek a better quality of life abroad. 
 
Australasia remains a prime destination for New Zealanders seeking greener pastures. The Australian economy, regarded as more robust, actively recruits Kiwi workers through a special visa programme that eases migration. Many Kiwis are drawn not only by the better job prospects but also by significantly higher salary offers. Reports suggest that a construction foreman in Sydney can earn over 60 percent more than their Auckland counterparts. 
 
Economic experts, including Shamubeel Eaqub, warn that without a swift improvement in the job market and economic conditions, the flow of New Zealand's economic refugees is likely to continue. He noted, "I believe the economy will worsen before it improves, attributing many issues to post-Covid policies, including the sustained high interest rates."<o:p></o:p>

This shift in outlook calls for urgent government intervention to rejuvenate the economy and retain its talent. Without strategic policy changes and a renewed focus on job creation, New Zealand risks losing its young professionals to countries promising greater opportunities and stability. 
 
The current emigration trend reflects a broader narrative of discontent among New Zealand's youth, who feel increasingly trapped by economic circumstances. As the country grapples with these challenges, the government faces mounting pressure to address the underlying issues driving its citizens abroad. 
 
<o:p></o:p>

As the cost-of-living crisis intensifies, New Zealand is witnessing a significant exodus of its citizens, with over 131,200 Kiwis leaving for foreign shores in the past year alone.

As the cost-of-living crisis intensifies, New Zealand is witnessing a significant exodus of its citizens, with over 131,200 Kiwis leaving for foreign shores in the past year alone. This mass migration, which marks a 70 percent increase since June 2019, stems from a perfect storm of soaring prices, elevated interest rates, and a shortage of quality employment opportunities as detailed in a CNBC report. The growing trend is particularly alarming for younger generations, as over half of the emigrants are aged between 20 and 39. For instance, Wilson Ong, a 32-year-old manager in the fashion retail industry, expressed his concerns about the limited job market back home. He stated, "In New Zealand, it feels like the job market limits your opportunities and the experiences you can gain." Persistent inflation, high cost of living is a serious challenge for the economy The situation has worsened due to the high cost of living, which has seen inflation rates spike to over 7.3 per cent at their peak, affecting the purchasing power of many New Zealanders. Although the rate has decreased to 3.3 per cent as of June 2024, it still remains above the Reserve Bank's target of 1 to 3 per cent. This economic pressure has prompted many citizens to seek a better quality of life abroad. Australasia remains a prime destination for New Zealanders seeking greener pastures. The Australian economy, regarded as more robust, actively recruits Kiwi workers through a special visa programme that eases migration. Many Kiwis are drawn not only by the better job prospects but also by significantly higher salary offers. Reports suggest that a construction foreman in Sydney can earn over 60 percent more than their Auckland counterparts. Economic experts, including Shamubeel Eaqub, warn that without a swift improvement in the job market and economic conditions, the flow of New Zealand's economic refugees is likely to continue. He noted, "I believe the economy will worsen before it improves, attributing many issues to post-Covid policies, including the sustained high interest rates." This shift in outlook calls for urgent government intervention to rejuvenate the economy and retain its talent. Without strategic policy changes and a renewed focus on job creation, New Zealand risks losing its young professionals to countries promising greater opportunities and stability. The current emigration trend reflects a broader narrative of discontent among New Zealand's youth, who feel increasingly trapped by economic circumstances. As the country grapples with these challenges, the government faces mounting pressure to address the underlying issues driving its citizens abroad.

Economic refugees flee from New Zealand as cost-of-living crisis deepens

Former Maldives Vice President Ahmed Adeeb has expressed concerns over loans from China, & the current debt worries of the country. Speaking to our diplomatic correspondent Sidhant Sibal, he said, 'Lot of debt taken from China. High interest loans from commercial banks of China talks with China, but not announced, will they delay, write it off". The Maldives is currently navigating through significant economic challenges, particularly with regards to its debt situation. The country has experienced a significant downgrade in its credit rating by Fitch Ratings, moving from 'CCC+' to 'CC' as of August 29, 2024. He lauded India, pointing to the Delhi's role in support Sri Lanka during economic crisis. He explained, 'India has always helped us. For Sri Lanka, it was India who helped"

Former Maldives VP Ahmed Adeeb takes on China over Maldives' economic crisis

The Chinese housing market, a critical sector of the country's economy, continues to grapple with a severe downturn, with no immediate signs of recovery. According to Haibin Zhu, chief economist for China at JPMorgan, the housing market crash is "far from over," with home prices unlikely to find stability until at least 2025 as detailed by him in a conversation with CNBC.

Recent data from the China Index Academy highlights the ongoing struggles. The average price of new homes sold in 100 cities across China saw a marginal increase of 0.11 per cent from July, a further deceleration from June's growth of 0.13 per cent. In contrast, resale home prices fell by 0.71 per cent compared to the previous month. Year-on-year, average prices for both new and resale homes have declined by more than 1 per cent and 6 per cent, respectively, underscoring the entrenched crisis in the housing market.

The Chinese government has introduced several stimulus initiatives aimed at bolstering the housing sector, but these efforts have been deemed insufficient. Zhu emphasized that these measures have failed to revitalize the market, suggesting that more comprehensive strategies are needed to address the underlying issues. The proposed mortgage refinancing plan, which could enable refinancing on up to $5.4 trillion in mortgages, is also met with skepticism. Experts argue that this plan primarily benefits current homeowners and does not address the demand for new properties.

Doubts over mortgage refinancing and the long term plan<o:p></o:p>

Winnie Wu, chief equity strategist for China at BofA Securities, expressed doubts about the effectiveness of the mortgage refinancing plan. While some believe it could stimulate consumption, Wu pointed out that lower mortgage rates would likely lead banks to decrease deposit rates to maintain their profit margins. This could ultimately reduce interest earnings on household savings, a move that would not significantly boost overall spending.

Zhu concurred with Wu's assessment, stating that the refinancing policy would do little to invigorate demand for new homes. He stressed that merely cutting rates is not an optimal solution and that squeezing banks' margins will not yield significant results. Instead, Zhu and Wu advocate for the government to foster a "positive feedback loop" to break the downward trend in the housing market.

Further, the prolonged downturn in China's housing market has significant long-term implications for the country's economy. The sector's weakness can impact consumer confidence, reduce spending, and hinder economic growth. As the government continues to explore strategies to stabilize the market, it is clear that a more holistic approach is necessary to restore confidence among homebuyers and investors.

Hence, China's housing market remains in a state of crisis, with experts predicting a prolonged period of decline. While government initiatives are underway, their effectiveness is being questioned, and a more comprehensive strategy is needed to address the deep-seated issues plaguing the sector. As the situation evolves, it will be crucial to monitor the impact on the broader economy and the measures taken to mitigate the downturn.

The Chinese housing market, a critical sector of the country's economy, continues to grapple with a severe downturn, with no immediate signs of recovery. According to Haibin Zhu, chief economist for China at JPMorgan, the housing market crash is "far from over," with home prices unlikely to find stability until at least 2025 as detailed by him in a conversation with CNBC.

The Chinese housing market, a critical sector of the country's economy, continues to grapple with a severe downturn, with no immediate signs of recovery. According to Haibin Zhu, chief economist for China at JPMorgan, the housing market crash is "far from over," with home prices unlikely to find stability until at least 2025 as detailed by him in a conversation with CNBC. Recent data from the China Index Academy highlights the ongoing struggles. The average price of new homes sold in 100 cities across China saw a marginal increase of 0.11 per cent from July, a further deceleration from June's growth of 0.13 per cent. In contrast, resale home prices fell by 0.71 per cent compared to the previous month. Year-on-year, average prices for both new and resale homes have declined by more than 1 per cent and 6 per cent, respectively, underscoring the entrenched crisis in the housing market. The Chinese government has introduced several stimulus initiatives aimed at bolstering the housing sector, but these efforts have been deemed insufficient. Zhu emphasized that these measures have failed to revitalize the market, suggesting that more comprehensive strategies are needed to address the underlying issues. The proposed mortgage refinancing plan, which could enable refinancing on up to $5.4 trillion in mortgages, is also met with skepticism. Experts argue that this plan primarily benefits current homeowners and does not address the demand for new properties. Doubts over mortgage refinancing and the long term plan Winnie Wu, chief equity strategist for China at BofA Securities, expressed doubts about the effectiveness of the mortgage refinancing plan. While some believe it could stimulate consumption, Wu pointed out that lower mortgage rates would likely lead banks to decrease deposit rates to maintain their profit margins. This could ultimately reduce interest earnings on household savings, a move that would not significantly boost overall spending. Zhu concurred with Wu's assessment, stating that the refinancing policy would do little to invigorate demand for new homes. He stressed that merely cutting rates is not an optimal solution and that squeezing banks' margins will not yield significant results. Instead, Zhu and Wu advocate for the government to foster a "positive feedback loop" to break the downward trend in the housing market. Further, the prolonged downturn in China's housing market has significant long-term implications for the country's economy. The sector's weakness can impact consumer confidence, reduce spending, and hinder economic growth. As the government continues to explore strategies to stabilize the market, it is clear that a more holistic approach is necessary to restore confidence among homebuyers and investors. Hence, China's housing market remains in a state of crisis, with experts predicting a prolonged period of decline. While government initiatives are underway, their effectiveness is being questioned, and a more comprehensive strategy is needed to address the deep-seated issues plaguing the sector. As the situation evolves, it will be crucial to monitor the impact on the broader economy and the measures taken to mitigate the downturn.

China's housing market struggles persist: Experts predict prolonged downturn

Bangladesh, a global textile powerhouse, is facing a severe crisis. Political unrest has brought the country to a standstill, with violent protests, curfews, and internet shutdowns disrupting daily life.

Bangladesh’s garment sector faces $4 bn loss amid crisis

Let's look at China's new plan to revive the economy after the top leadership's twice-a-decade meeting. After years of uncertainty, the government of Xi Jinping has laid out its strategy to resolve a fiscal crisis in China. However, the new playbook is deemed insufficient by economists.

China's new economic playbook is a remedy but not a cure

13,800 High-net-worth individuals left China in 2023, 15,200 are expected to leave China this year. Why are Chinese millionaires leaving their country? Gravitas explores.

Gravitas: Why China's millionaires are leaving the country?

Let's look at the developements in China's property market crisis. Chinese leaders believe lowering home inventories would halt the country's unparalleled property collapse.

China's property crisis in focus

China, the world's second-largest economy, has reported faster-than-expected growth in the January to March quarter. But the devil lies in the details. And, they suggest things are set to get tougher in the rest of the year.

China reports faster-than-expected growth in January to March quarter

Cubans are suffering from great hardships as they continue to battle power outages. They expressed dismay over further power blackouts in Cuba's Santiago. Watch in for more details!

Cuba Economic Crisis: Cuba protests food shortage, electricity cut

Cuba: US trade embargo, sanctions trigger food & medicine shortage

We look at the economic turmoil gripping Hong Kong as it grapples with the aftermath of implementing Article 23, a rule inspired by China’s national security law that gives unprecedented powers to the state while dealing with national security concerns. Once hailed as Asia's financial powerhouse, Hong Kong now faces a mass exodus of investors, plummeting confidence, and a shrinking job market. Watch in for more details!

Hong Kong's Economic Crisis: Talent & capital exodus follows implementation of national security law

In Australia, the cost of living crisis has made the government take an important step to support low-income families. The Australian government will support a minimum wage increase in line with inflation this year. This comes at a time when low-income families continue to grapple with the rising cost of living.

Australia: Government to support minimum wage increase in line with inflation

China sets an ambitious growth target of 5% for this year alongside measures to boost confidence. The government also plans to raise debt worth $139 billion as officials ramp up fiscal stimulus. However, matching last year's figure will be harder as the country faces a lack of investor confidence and a slowing global economy.

China sets 5% growth target

Nigeria's inflation rate accelerated further in January and reached almost 30% in annual terms, driven by soaring food costs and the fall of the country's naira currency to record lows. Watch in for more details!

Nigeria: Public anger grows over economic distress

Sri Lanka President Ranil Wickremesinghe has thanked India for the economic support to his country amid the economic crisis. Speaking to our diplomat correspondent Sidhant Sibal in Perth, he said, 'thankful to India without that we could not have survived and this is why we are also looking at closer relations between the two countries'. India provided a support of almost $4 Bn to the country during the economic crisis. The President pointed that plans are underway for Chennai IIT to establish a campus in Sri Lanka "most probably in Kandy.". He President spoke on other issues including visit of Chinese vessels to Sri Lanka, Maldives President Muizzu's India policy amoung other things.

Sri Lanka President thanks India for economic support; Plans for IIT Campus in Kandy

Argentina's push towards the U.S. Dollar will not be completed anytime soon. That's what the country's libertarian present Javier Milei has now hinted.

Argentina's dollarisation in backburner

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