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Feb 28 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Asian markets also held up better on Monday than many might have expected following Wall Street's slump on Friday and the heightened U.S.-China tensions over the weekend. If it is end of month profit-taking and position-squaring that are going to drive Asian markets on Tuesday, there may be scope for a decent bounce. Investors get the latest snapshots of industrial production and retail sales from Japan, credit and lending figures from Australia, and trade data from Vietnam. Vietnam joins Thailand, Hong Kong and South Korea in reporting trade data this week, figures that will give an insight into how Asia has started the year in terms of trade with the rest of the world.

For many economists, globalization appears to have stalled after three decades of low inflation, easy credit, China's integration into the world economy and a relatively peaceful period. As a share of global GDP, trade likely increased from the previous year's 57% and exports as per World Bank data. It is not really evident in the data," Nicita says, estimating that global trade grew by about 3% last year, at a pace similar to the global economy. "Trade and globalization are not on the wane, but they are changing," she told the Chatham House Global Trade Policy Forum in November, citing growth in service- and digital-based trade. UNIPOLAR V MULTIPOLARThis 'regionalization' will continue assuming Beijing's economic, trade and financial ties to the U.S. gradually loosen.

While the Biden administration push, described by economists as an industrial policy, has opened opportunities for some companies, significant hurdles remain. The 2022 CHIPS and Science Act provides $52.7 billion in federal subsidies for semiconductor production and research. Industrial policy still has critics. Scott Lincicome, director of general economics at the libertarian Cato Institute, said industrial policy tends to crumble into failed projects and cost overruns. "There's all sorts of more market-oriented reforms that could achieve the type of objectives our political class wants, without the unintended consequences of industrial policy," he said.

☆ U.S. manufacturers see big boost from government subsidies and tax breaks
▼ + stars: | 2023-02-23 | by ( Timothy Aeppel | ) www.reuters.com time to read: +9 min

While the Biden administration push, described by economists as an industrial policy, has opened opportunities for some companies, significant hurdles remain. Eight out of 12 Republican representatives in Ohio’s congressional delegation voted in favor of federal subsidies for semiconductor production, including the funds that will go to Intel. The 2022 CHIPS and Science Act provides $52.7 billion in federal subsidies for semiconductor production and research. Scott Lincicome, director of general economics at the libertarian Cato Institute, said industrial policy tends to crumble into failed projects and cost overruns. "There's all sorts of more market-oriented reforms that could achieve the type of objectives our political class wants, without the unintended consequences of industrial policy," he said.

☆ YouTube is quietly testing a feature that lets creators add multiple audio tracks in different languages to their videos
▼ + stars: | 2023-02-13 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +2 min

YouTube is testing a feature that lets creators add multiple audio tracks to a single video. The feature lets creators add audio tracks in several different languages. YouTube has been quietly testing the ability for creators to add multiple audio tracks in different languages to their videos, the company confirmed to Insider. The feature is both giving a second chance to old YouTube videos through dubbing, and allowing new videos to reach global audiences. So far, those with access to YouTube's new audio track feature can upload multiple tracks at once, or go back and add more tracks to an old video, Mansorian said.

☆ Here's how to invest in 3 'tectonic shifts' that will shape markets over the next few years, according to BofA
▼ + stars: | 2023-02-10 | by ( Marley Jay | ) www.businessinsider.com time to read: +5 min

The firm walked investors through patterns in interest rates and government spending. From 2008 to last year, ultra-low interest rates and central bank policy made for an era of easy money. They said that will favor value stocks over growth stocks, and will make dividend-paying stocks and alternative investments more appealing. It's also a potential economic challenge, as national debt levels have risen at the same time that interest rates have increased. "We have entered a bull market in state intervention and activism," Quinlan and Sanfilippo wrote.

☆ World Trade Organization head wants to 'double or triple' Africa's share of global trade
▼ + stars: | 2023-02-02 | by ( Nell Lewis | ) edition.cnn.com time to read: +5 min

The World Trade Organization (WTO) projected in October that after growing by 3.5% in 2022, trade volumes will increase by just 1% in 2023. Either way, Africa may start to reap the benefits of a free trade deal that came into effect in 2021. The landmark African Continental Free Trade Area (AfCFTA) agreement created the world’s largest new free trade area since the establishment of the WTO. What do they need and what are they telling you in terms of doing cross-border trade on the African continent? What we’ve seen during the pandemic is that Africa needs to get its own manufacturing capacity, and this falls right back into what can make the continental free trade area work.

By announcing an inflation goal, central bankers feel they build credibility for themselves and focus the planning of households and firms in ways that help keep inflation controlled. Those decades, up to the end of the first year of the coronavirus pandemic in 2020, saw inflation largely contained. Achieving that target is just core to our overall monetary policy," Brainard said, a sentiment echoed in central bank headquarters from Frankfurt to London to Tokyo. "Let me be quite clear, there are no ifs or buts in our commitment to the 2% inflation target," Bank of England Governor Andrew Bailey said last year. Should inflation prove stickier than expected, achieving the central bank's 2% inflation goal could mean even more losses.

☆ Artist Àsìkò explores Yoruba culture through mythology
▼ + stars: | 2023-01-24 | by ( Lamide Akintobi | ) edition.cnn.com time to read: +5 min

Lagos, Nigeria CNN —Appreciating cultural heritage and using it to imagine a better future: that’s one of the goals of self-taught photographer and visual artist Ade Okelarin. Drawing on aspects of traditional Yoruba culture has been an important aspect of his creative journey. In this work, Okelarin reimagines Olokun, the Yoruba goddess of the oceans, seas and wealth. Okelarin also uses digital rendering, layering the photographs with aspects of his cultural heritage, such as fabric and textures. “Living in the diaspora, now more than ever, my cultural heritage is a big part of my identity and who I am.

Persons: Ade Okelarin, ”, Okelarin, ” Okelarin, Thor, Okelarin reimagines Olokun, “, ’, – Okelarin, didn’t, – Organizations: Nigeria CNN, Sun Locations: Lagos, Nigeria, ”, West Africa, Caribbean, South America, UK

☆ From green subsidies to chips, Davos debates reflect a world in flux
▼ + stars: | 2023-01-20 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

Davos, Switzerland CNN —The World Economic Forum in the Swiss Alps is typically a venue for politicians and business leaders to deliver sermons about the benefits of globalization and cross-border cooperation. European leaders used Davos to amplify complaints about the law’s tax breaks for American companies that make parts for green energy projects, which they claim will disadvantage European firms. German Chancellor Olaf Scholz addresses the World Economic Forum, in Davos, Switzerland, on Wednesday. Representatives from Asia’s third largest economy showed up in force at Davos to meet with international investors. “We’re looking at a less efficient world,” US Trade Representative Katherine Tai said.

☆ France's finance minister: We have entered a 'new era of globalization'
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrance's finance minister: We have entered a 'new era of globalization'French Minister of Economy and Finance Bruno Le Maire speaks to CNBC's Geoff Cutmore at Davos 2023.

☆ Premarket stocks: What we learned at Davos: The economy is a mess, but there's still hope
▼ + stars: | 2023-01-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Friday marks the end of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the wealthiest people and world leaders. The meetings between CEOs, politicians, and global figures at Davos can help set the tone for the year ahead. CEOs and political officials are also worried about the United States hitting its borrowing cap on Thursday, forcing the Treasury Department to start taking “extraordinary measures” to keep the government open. If an agreement isn’t reached, markets could plunge (like they did the last time this happened in 2011) and the United States risks having its credit rating downgraded again. China’s removal of strict coronavirus restrictions late last year is also expected to unleash a wave of spending that may offset economic weakness in the United States and Europe.

☆ CEOs around the world are bracing for a recession — but recent economic numbers leave some room for optimism
▼ + stars: | 2023-01-19 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +3 min

Surveys indicate CEOs predict a recession and economic uncertainty in 2023. Insider's Matt Turner said he'd observed a "slight change in tone" from leaders at Davos this week. In a survey by PwC of some 4,400 CEOs in about 100 countries in October and November, nearly three-quarters said they believed global economic growth would slow over the next 12 months. The consultancy characterized the stark prediction as the most pessimistic CEOs have been about economic forecasts since it began asking this question a dozen years ago. "Many still expect a global recession that's more keenly felt in Europe.

☆ Premarket stocks: The Federal Reserve is testing how climate change could hurt big banks
▼ + stars: | 2023-01-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The largest six banks in the United States have been given until July to show the Federal Reserve what effects disastrous climate change scenarios could have on their bottom lines. The Federal Reserve first announced the pilot program in September, noting that Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo would participate. In its announcement the Federal Reserve stressed that the exercise “is exploratory in nature and does not have capital consequences.” It also said that it would not publish individual banks’ results. San Francisco Federal Reserve President Mary Daly told CNN in October Thursday that this was a learning and exploratory exercise for the Federal Reserve. The other side: Critics of the pilot program have argued that the Federal Reserve was overstepping its boundaries and that they might soon begin to enforce financial penalties.

☆ Intel CEO says chip supply chains will shape geopolitics more than oil over the next 50 years
▼ + stars: | 2023-01-17 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Global politics will be dominated by the availability, trade and investment in microchips for the next several decades, Intel CEO Pat Gelsinger told CNN Tuesday. The location of “oil reserves [has] defined geopolitics for the last five decades,” Gelsinger said in an interview with CNN’s Julia Chatterley at the World Economic Forum in Davos. Issues in the chip supply chain in recent years have caused shortages and shipping delays of everything from desktop computers and iPhones to cars. The CHIPS and Science Act will invest more than $200 billion to help companies grow US domestic chip-making and research. Because we’re assuming they’ll help us make these massive investments.”

☆ Idea of de-globalization is a 'mirage,' says historian Niall Ferguson
▼ + stars: | 2023-01-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Historian Niall Ferguson gives a speech at a gala dinner in Hong Kong. Ferguson argued at the 2023 World Economic Forum in Davos that the world is not experiencing major de-globalization. The idea that a major trend of de-globalization has begun is a "mirage" that is not borne out by data, according to the historian Niall Ferguson. This is "just history happening," he said on a panel at the World Economic Forum in Davos, Switzerland. It would be surprising if that series of events hadn't produced structural changes in the way the world economy worked, Ferguson said.

☆ SAP CEO says we're entering 'next phase of globalization'
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSAP CEO says we're entering 'next phase of globalization'Christian Klein, the CEO of German tech giant SAP, says he's largely optimistic about the year ahead as it pertains to tech despite challenges posed by disruptions to supply chains and the Russia-Ukraine war.

☆ SAP CEO says the world is entering the 'next phase of globalization'
▼ + stars: | 2023-01-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The CEO of German tech giant SAP said the world is entering the next phase of globalization — and he's largely optimistic on the outlook for technology despite challenges posed by higher interest rates and supply chain disruptions. "We are entering from my perspective the next phase of globalization," SAP chief Christian Klein told CNBC's "Squawk Box Europe" at the World Economic Forum in Davos, Switzerland. He added that companies are coming together to secure their supply chains and tackle corporate responsibility issues by better using data. Supply chains have been challenged by a confluence of factors, not least the Covid pandemic. That has led to upheavals of supply chains and higher prices for consumers and businesses around the world.

☆ Davos 2023: The World Economic Forum explained
▼ + stars: | 2023-01-16 | by ( Siddharth K | ) www.reuters.com time to read: +4 min

DAVOS, Switzerland, Jan 16 (Reuters) - The World Economic Forum (WEF) returns to its snowy winter residency in the Swiss Alps this week with a record attendance of business and government leaders. The WEF's roots stretch back to 1971 when its founder Klaus Schwab invited executives from European companies to the then tiny ski resort of Davos, high in the Swiss Alps. With climate change top of the agenda, chiefs of major energy companies are back after a COVID-related hiatus. Others include IMF Managing Director Kristalina Georgieva, European Central Bank chief Christine Lagarde, NATO General Secretary Jens Stoltenberg, President of the European Commission Ursula von der Leyen and Chinese Vice-Premier Liu He. Climate change topped the WEF's survey of global risk and energy company executives will mix with climate activists and environment ministers at the forum.

☆ Davos draws record crowds, but its relevance is fading
▼ + stars: | 2023-01-16 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year. A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023. Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October. Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak. That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.

☆ IMF says fragmentation could cost global economy up to 7% of GDP
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +2 min

Tne IMF said even limited fragmentation could shave 0.2% off of global GDP, but said more work was needed to assess the estimated costs to the international monetary system and the global financial safety net (GFSN). The note, released late Sunday, noted that the global flows of goods and capital had leveled off after the global financial crisis of 2008-2009, and a surge in trade restrictions seen in subsequent years. The unraveling of trade links "would most adversely impact low-income countries and less well-off consumers in advanced economies," it said. It noted that emerging market economies and low-income countries are likely to be most at risk as the global economy shifted to more “financial regionalization” and a fragmented global payment system. "With less international risk-sharing, (global economic fragmentation) could lead to higher macroeconomic volatility, more severe crises, and greater pressures on national buffers," it said.

Reuters GraphicsThe U.S. central bank is already adjusting to one unanticipated set of changes - an outbreak of inflation coupled with stalled growth in the U.S. labor force. "You have to identify the regime change ... Then you have to understand the transition dynamics ... and have a clear vision and insight into all of those ... "Markets calibrated to ... Chinese growth and low interest rates may prove fragile." Like recessions, which are typically identified only well after they have started, other economic turning points aren't always apparent in the moment. But as evidence of that accumulated following the 2007-2009 recession, it was only embodied into Fed policy in 2020 under a new approach that leaned against premature interest rate increases.

☆ Biotech investor Brad Loncar shares 10 predictions for 2023, including a hot new cancer target, Nobel Prize winners, and a biotech founder running for president
▼ + stars: | 2023-01-04 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +14 min

Loncar shared his 2023 forecast, including new drugs, Nobel Prize winners, and more globalization. Brad Loncar isn't expecting a miraculous rebound for the biotech industry in 2023. In an interview with Insider, Loncar shared 10 predictions for biotech in 2023, ranging from Nobel Prize winners and presidential runs to hot cancer targets and bankruptcy worries. 2022 was a rough year for the biotech industry, which once again underperformed the stock market. The industry runs to the next super-hot cancer target: Claudin 18.2In cancer research, drug companies are always on the hunt for the next promising target.

☆ The Bright Side of 2022
▼ + stars: | 2022-12-31 | by ( Zachary Karabell | ) www.wsj.com time to read: +1 min

If the final decades of the 20th century were marked by a burst of techno-capitalist optimism, the first decades of the 21st century have often felt like a step-by-step descent into despair. And yet, far more went right in 2022 than most of us recognize. Rather than being the sum of all of our fears, the year was in many ways a possible harbinger of a pessimism thaw. Of course, focusing on what has gone right requires an asterisk acknowledging that much did not. That makes it difficult for good news to stand out, but we do ourselves a disservice if we fail to give progress its due.

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