Latest news with #Economics
Wall Street Journal
09-07-2025
- Business
- Wall Street Journal
Two Kevins Battle to Be Next Fed Chair in Trump's ‘Apprentice'-Style Contest
WASHINGTON—Two Republicans named Kevin are vying to be the next chairman of the Federal Reserve. One is rising to the top of the list of potential candidates, while the other is facing skepticism from President Trump's allies. Kevin Hassett, one of Trump's closest economic advisers, is emerging as a serious contender to be the next Fed chair, according to people familiar with the matter. Hassett's rise threatens the other Kevin—former Fed governor Kevin Warsh—an early favorite for the job who has angled for the position ever since Trump passed him over for it eight years ago. Some people close to the president worry that Warsh, who isn't in Trump's inner circle, won't be a champion of lower rates.
South China Morning Post
08-07-2025
- Business
- South China Morning Post
Can't reach US? Try Singapore: Chinese students look to island nation's universities
Miya Zheng once aspired to earn a master's degree in the United States when she first arrived in the country for her undergraduate studies. But three years later, the Chinese national has shifted her sights halfway across the world – to Singapore. 'After staying here for some time, I realised that this isn't quite the right place for me in the long run,' said Zheng, who is majoring in economics and statistics in the US and aspires to work outside China after graduating. As an international student, she has faced increasing hurdles. Difficulty adjusting to cultural differences and her parents' concerns about safety have prompted her to apply to Singapore's top two universities in the coming application cycle. Zheng is drawn to the nation's warm climate, abundance of Chinese cuisine and relatively high economic and diplomatic openness. US will only process foreign student visas if given access to social media accounts Singapore is home to six publicly funded autonomous universities and a few private universities. In 2023 alone, there were more than 73,000 international students in Singapore, according to local media reports. A significant proportion was believed to be from China. And while the US has historically been the top choice for Chinese students, the growing uncertainty and instability in the country may prompt even more Chinese students to consider Singapore, industry insiders say. For Chinese students, Singapore ranks second among 28 popular study-abroad destinations, according to a report jointly compiled by China's Ministry of Education and the Beijing-based think tank Centre for China and Globalisation (CCG). Britain tops the list, while the US ranks fourth after Canada, dragged down by nervousness about safety. People hold up signs during a rally in support of international students at the Harvard University campus in Boston, Massachusetts, United States in May. Photo: AFP The Trump of it all The number of Chinese students in the US had already been declining, with India overtaking China as the top source of international students in the US last year. But in May, US President Donald Trump's administration announced it would 'aggressively' revoke visas issued to Chinese students, a day after the US State Department suspended student visa processing for all foreign students. Trump has since reversed course – welcoming Chinese students after a long-anticipated phone call with Chinese President Xi Jinping last month and resuming student visa processing with stricter social media vetting – but only after policy shifts sparked anxiety and confusion among Chinese students. Zheng said many applicants seeking a backup option in the event their US study plans did not eventuate were likely to consider Singapore, which has high rankings for safety and stability and, unlike the US, imposes no restrictions on majors deemed sensitive for international students. June 2025: US president Trump suspends new Chinese and other foreign student visas at Harvard Singapore soars to the top An admissions consultant with a Wuhan-based agency, who gave her last name as Gao, confirmed that her firm had received more queries about studying in Singapore in the past month following recent developments in the US. Beyond safety, the city state's cultural familiarity and reputable universities were also main draws for Chinese students, Gao noted. The National University of Singapore (NUS) retained its place as the top university in Asia, ranked eighth globally in the latest QS World University Rankings 2026, while Nanyang Technological University (NTU) ranked 12th. 'NUS has quite a high degree of recognition in China,' said third-year undergraduate student Oswald Dong, who plans to apply for postgraduate studies in finance abroad but would like to then return to the mainland to work. He once considered studying in the US but has dropped that plan. Most American master's programmes run for two years, making them more expensive, and the current unpredictability in the country is a deterrent for Dong. 'One-year programmes in the UK, Hong Kong and Singapore seem like better value,' Dong said. Tuition fees for these programmes typically range from US$30,000 to US$55,000 – sometimes less than half the cost of programmes in the US. Tourists pose for photos at the Merlion Park in Singapore. Photo: Reuters Mandarin-language options Universities in Singapore are eager to capitalise on the growing interest among Chinese students. Several programmes now feature Mandarin versions of their websites, complete with WeChat contacts for live support in the application process. And institutions are even beginning to offer programmes taught entirely in Mandarin. NUS and NTU offer executive Master of Business Administration degrees in Mandarin. The launch by SUSS of its first Mandarin-medium postgraduate programme in management last year was 'met with strong interest', a spokesperson said. 'SUSS has observed a significant increase in applications from international students across various countries within Asean and China,' the university spokesperson said, noting that international undergraduate applications had more than doubled this year compared with the previous academic year, while postgraduate applications rose more than 30 per cent. The university has since introduced several more Mandarin-taught programmes that will welcome the first intakes this month in areas such as financial technology, intellectual property and data analytics.
South China Morning Post
08-07-2025
- Business
- South China Morning Post
As US drops among Chinese study preferences, Singapore beckons with status and culture
Miya Zheng once aimed to earn a master's degree when she first arrived in the United States for her undergraduate studies. But now, three years later, the Chinese national has shifted her sights halfway across the world – to Singapore. 'After staying here for some time, I realised that this isn't quite the right place for me in the long run,' said Zheng, who is majoring in economics and statistics in the US and aspires to work outside China after graduating. She has faced increasing hurdles as an international student in America. Difficulties adjusting to cultural differences coupled with her parents' concerns about safety have prompted her to apply to Singapore's top two universities in the coming application cycle. 'Singapore offers a great environment,' said Zheng, who is drawn to the nation's warm climate, abundance of Chinese cuisine and relatively high economic and diplomatic openness. Singapore, home to six publicly funded autonomous universities and a handful of private universities, has long been a popular destination for Chinese students seeking an overseas education. In 2023, there were more than 73,000 international students in Singapore, according to local media reports, with a significant proportion believed to be from China. 03:40 Absurd, anxious, concerned: Students react to US revoking Chinese student visas Absurd, anxious, concerned: Students react to US revoking Chinese student visas And while the US has historically been the primary draw for Chinese students, industry insiders say Singapore may see an uptick in applications from Chinese students in the short term amid growing uncertainty and instability in the US.
Yahoo
03-07-2025
- Business
- Yahoo
Trump Just Shook Asia's Trade Game--Vietnam Made the First Move
Donald Trump just redrew the map of Asian trade. In a surprise move, the former US president announced a deal with Vietnam that includes a 20% tariff on all goods sent to the USand a steep 40% on anything transshipped through the country. The goal? To shut down backdoor routes for Chinese goods. In exchange, Vietnam agreed to slash tariffs on US imports to zero. While the 20% figure is lower than the 46% Trump previously threatened, officials from India to Thailand are watching nervously. For India, which is scrambling to finalize its own deal before a July 9 deadline, the worry is real. This isn't just about tax ratesit's about leverage, and who holds it. In India's electronics sector, more than 60% of inputs come from China. That's the weak spot. Trump's team is pushing harder on rules-of-origin and cracking down on transshipment. Countries like Thailand, long seen as convenient hubs for re-routing Chinese goods, are now facing pressure to build real domestic value. As one Thai economist put it: this deal might be the beginning of a whole new trade order. For investors, the implications are serious. If the US starts enforcing these kinds of deals across Asia, supply chains could shift fastespecially in sectors like electronics, autos, and renewables. Companies like Tesla (NASDAQ:TSLA), which rely on complex Asia-based sourcing, could feel the ripple effects if suppliers are forced to retool or rebase production. Indonesia, playing offense, just committed $34 billion in trade and investment pacts with the USand notably escaped any transshipment scrutiny. Meanwhile, China may not take this lightly. Beijing has already signaled it may retaliate. As pressure ramps up, one thing is becoming clear: the cost of selling to the US is going up, and not everyone's ready. This article first appeared on GuruFocus. Sign in to access your portfolio
Reuters
30-06-2025
- Business
- Reuters
Fed's Goolsbee sees no stagflation but 'definitely' things could get worse
June 30 (Reuters) - Chicago Federal Reserve Bank President Austan Goolsbee on Monday said that with unemployment near 4% and inflation around 2.5% and falling, he sees no possibility that tariffs or another supply-side shock could in the near term cause actual 1970s-style stagflation, when the unemployment was double today's rate and inflation was above 13%. "But there's definitely the possibility of both things getting worse at the same time," Goolsbee said at the Aspen Ideas Festival in Aspen, Colorado, referring to unemployment and inflation. "And there you usually say, well, how long is each side's discrepancy going to last? Do you think it's temporary or do you think it's permanent? And how big is each the way I think about it." He did not give a forecast for those variables.
