Japans wirtschaftliche Zukunft und Bedeutung - ein Ausblick (German Edition)

In addition, real growth of retail sales stabilized at One issue to bear in mind when reading the August data is that some indicators may have suffered a one-off negative impact, from the preparation for the September military parade in Beijing. Meanwhile, leading indicators are firming up. The strong momentum of property sales continued, growing 7. Total funds available for investment increased by 7. In particular, those from the state budget increased The yuan passed the Canadian and Australian dollars in popularity in December, according to the Society for Worldwide Interbank Financial Telecommunication, which provides communications between financial institutions and companies.

It said the yuan now ranks behind the dollar, the euro, the British pound and Japanese yen. But Beijing has signed agreements with a number of foreign financial centers including London to become hubs for clearing yuan transactions. The yuan, also known as the renminbi, accounted for 2. Global payments in yuan increased by Furthermore, Finance Minister Lou Jiwei indicated that the authorities are willing to sacrifice faster growth for economic sustainability. China's growth to remain strong, but with debt build-up a risk. That makes it the 14th-largest money market fund in the world, data from Bloomberg shows.

Combined with other investment funds, the amount managed by Tian Hong has exceeded billion yuan. It has formed a partnership with social networking company Tencent Holdings to challenge Yu E Bao through a similar wealth management service embedded in the voice and text messaging app WeChat. Link to an interesting New York Times Article on internet finance.

Amid the din over its biggest fall since liberalisation in no one seems to be sure whether the renminbi is actually under or overvalued anymore — just as with grown-up currencies! This marks a big change. A rising yuan has long been taken for granted thanks to trade surpluses, capital inflows and the necessity of central bank intervention. But as Beijing looks towards full convertibility this consensus is being questioned.

For example an IMF working paper published in August estimated that capital account liberalisation would result in a net outflow of Chinese assets in the order of per cent of output. Others worry about the unwinding of dollar-yuan carry trades the most attractive in the world on a volatility-adjusted basis , for example when US interest rates normalise.

Welcome, renminbi, to troubled adolescence. The currency had an 8. China, Hong Kong, Singapore, Germany and Australia were the top users of yuan in trade finance, according to the Belgium-based financial- messaging platform. Agreements were announced this quarter to start direct currency trading between the yuan and both the British pound and Singapore dollar. Link to the full story on bloomberg. But observers have gradually lowered expectations for what those reforms might be, as censors have tightened control over the internet and silenced academics and critical activists.

There are also doubts about just how far the government will be willing to push on economic reforms. The influential Development Research Center, a think-tank under the State Council, recently issued a long list of reformist suggestions, including breaking up state monopolies and giving local governments greater control over their own finances.

But analysts caution that the DRC report is representative of just one voice in the debate, and quite a liberal one at that. Announcements at the plenum are likely to be phrased in the turgid, general phrases commonly used in official documents in China, making it hard to parse their significance. Osborne said the countries will ensure access to yuan liquidity through additional settlement and clearing agreements in London. Foreign funded banks welcomed to set up branches. The government is likely to begin discussions on cutting corporate tax by the end of this year, with a view to implementing measures in fiscal , the officials said.

The withdrawal of the surcharge, which will reduce the current overall tax rate of around 38 percent on Tokyo-based firms by about 2 percentage points, is expected to be included in the economic stimulus package to be finalized by the end of this month.

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Many LDP lawmakers, however, have argued that an earlier end to the three-year surcharge could negatively affect reconstruction efforts in the areas ravaged by the quake-tsunami disaster. The tax measure is estimated to reduce government revenues by around billion yen. There is also skepticism about whether a corporate tax cut would really lead to job and income growth. Abe is likely to announce on Oct.

The stimulus package to prevent the tax hike from weighing on the economy is also expected to be unveiled on Oct. Japanese Prime Minister Shinzo Abe urged Wall Street traders to invest in Japan, promising in a speech at the New York Stock Exchange yesterday that its economy will become a driving force for global recovery. Abe vowed to conclude regional free trade talks by the end of the year and promoted Japanese products from sushi to LED light bulbs and a high-speed train system he said could link New York and Washington D.

The preliminary reading of The gauge was at The HSBC report showed increases in output, new orders, export orders and prices, while employment fell at a slower rate. Link to Bloomberg article: Shipments abroad rose 5. Exports to the U. Link to full Bloomberg article.

Net income in the year ending March will climb to a six-year high of 1. Last quarter, profit almost doubled to While Toyota was outsold by General Motors Co. After years of battling a recall crisis, strong yen and natural disasters, analysts project the maker of the Camry sedan will earn record profit next fiscal year. Of the companies on the Topix that have posted quarterly results and for which Bloomberg had estimates, 57 percent beat projections. The currency strengthened 0. The last expansion took effect on April 16, and UBS AG said the next move may be announced by Sunday to coincide with the first anniversary as well as the G talks.

London is racing against Paris and Zurich to become the center for yuan trading in Europe as China seeks to take its currency global.

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The deal may allow the U. The biggest surprise was in property, with resi sales, starts, completions and investment up strongly. Retail sales cooled under the impact of a Party campaign against corruption and official gluttony, while inflation rose at an expected pace. For more details on the released Data: Wir nehmen dies zum Anlass, einen differenzierten Blick auf die Vielzahl der Meinungen zu werfen auch mit dem Ziel, zwischen per heute sicheren Fakten und den Prognosen stets innewohnenden spekulativen Aspekten zu unterscheiden.

Total profits earned by major Chinese industrial enterprises rose That marked the third month of double-digit profit growth after profits had contracted for eight consecutive months, spooking investors and prompting the government to loosen monetary policy and step up infrastructure investment to boost growth last year. Link to full story at FT. Chinese industrials set for profit surge. The combination of these three asset classes in one portfolio allows because of their low, sometimes even negative correlation, to achieve an attractive risk profile.

Details about the new fund can be downloaded here. Please contact us for any further information on the new fund. That compares with the A level above 50 indicates expansion. That would be the highest reading in eight months. According to data from the National Bureau of Statistics , profits for all larger industrial firms were up 0. The numbers for October look a bit better, with overall industrial profits up Profits at privately-owned industrial firms — — the largest share of firms — — rose State-owned enterprises also saw some improvement , with profits up Year-to-date, however, SOE industrial profits are down 9.

On a YoY basis, industrial profits should look significantly better from January , given the soft base at that point. Link to original report: National Bureau of Statistics of China. Along with some quite encouraging details, the survey supports the view that the cyclical upswing in China — and by extension in the whole Asia-Pacific region — is gathering strength.

The solid increase in this particular index also suggests that the upswing in China is broadening out to smaller manufacturing companies. Aside from the headline reading, there was quite a bit of encouraging detail in the report. In particular, the output index surged 3. But arguably the most remarkable improvement was in the new export orders index which jumped 5. However, overall new orders were disappointing at Still, the overall orders index remained above 50, which is a clear improvement from late and most of this year. And, if exports pick up, the domestic economy is likely to follow suit.

Employment strengthened as well, up 0. Information about the state and evolution of inventories was also positive. Despite a rise in the sub-index for inventories of finished goods to All in all, it was an encouraging report that should further dispel fears of a hard landing and increase confidence that China, and hence Asia, is really experiencing a cyclical recovery.

Industrial production rose 9. That exceeded the 9. Retail sales growth of The consumer- price index increased 1. To listen to the discussion click here. Gross domestic product expanded 7. That matched the median estimate in a Bloomberg News survey and compares with a previously reported 7.

Any rebound in growth may ease pressure on the Communist Party as officials begin a once-a-decade leadership transition next month. The Chinese Communist Party will hold a congress starting Nov. Read full Bloomberg article: Yuan Strengthens Beyond 6. A separate fund that extends credit to banks was held at 25 trillion yen. Orders, an indicator of capital spending, climbed 4. The median estimate of 29 economists surveyed by Bloomberg News was for a 2 percent increase.

Large orders can cause volatile results. Bank loans rose to RMB The rise in TSF was driven by increases in bank loans, corporate bond issuance, and trust loans. Stronger total social financing data indicates that access to credit has become easier. We expect credit growth to pick up further in the coming months. There are no signs of a hard landing, and no signs of the Party initiating a serious stimulus. Accoridng to Bloomberg News [Aug. Chongqing, in the southwest, will boost industrial investment to 1. Given the improved domestic economic environment and the rich list of high quality companies trading at historically low valuation levels ASPOMA thinks this is not justified.

In this edition of Asia on the Ground we share with you some of our latest observations about the Japanese economy, Japanese companies, share price developments and latest research. The bulk of the cooling, though, is the result of a deliberate and successful policy to curb inflation. Now, with price rises low, the authorities are easing to avoid a hard landing. Risks must not hide positive China trends. China cut benchmark interest rates for the second time in a month and allowed banks to offer bigger discounts on their lending costs, stepping up efforts to promote economic expansion that may be weaker than anticipated.

Banks can offer loans of as much as 30 percent less than benchmark rates, the central bank said. This is a translation of a Chinese article. The original artivle can be accessed through the follwing link: December 18 was a day Mr. Zhou would always remember. China will remain the region with the highest real growth globally. But only certain Chinese companies manage to turn this into sustainable earnings growth and value generation.

The May edition of Asia on the Ground takes Haitian, the largest manufacturer of plastic injection moulding machines by volume globally, as an example to illustrate the challenges what it means for Chinese Companies to build a sustainable world-class business.

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Since then the availability of liquidity in the economy is seen to have considerably improved. At a corporate level, companies reported about positive new order momentum, strengthening cash flows and stabilized or even gradually improving profitability levels. Most companies expect solid top line growth mostly in the low to high teens — a bit lower than in recent years — which should result in a solid growth in earnings in Boosted by car exports to the U.

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Deutsche Industrie- und Handelskammer in Japan. Regionale Konvergenz in Asien: Das Ringen um Demokratie auf lokaler Ebene: Das Erbe der Meiji-Restauration. When Politics Gets in The Way: Die Gouverneurswahl in Okinawa Das Aufkommen eines regionalen Populismus. Active Citizenship through Non Citizen Participation. The Emergence of Regional Populism. Policies Designed to Fail: Health-Caregiver Migration to Japan and Germany. Challenging the Nation-State from Within: Okinawan Social Movements and the Constitution of Japan. Political Protest from the Periphery: Future Perspectives for Island Society: The Impact of Humanities and Social Sciences.

Publishing in peer reviewed journals. When Politics Gets in the Way: Reforming Democracy and Social Inclusion: Health-Caregivers on the Global Labor Market: Von lokal bis global: Politischer Protest aus der Peripherie: Japan and Europe in a Globalized World. Risks and Opportunities of a Diversifying Labor Market. Setting Out to Imagine a New Community: Social Capital in Japan's Aging Society. Yamamoto, Raymond] Dancing in the Dark: Sino-Japanese Interaction in World Politics. Activism in Contemporary Japan. New Ideas, Players and Arenas? Wochen der Wissenschaft Der Krieg ist noch lange nicht vorbei: Was bringt der Dialog der Perspektiven?