The strong market performance has been driven by Indonesia’s steady economic growth of 5.05% in 2023, which surpassed the growth rate of 4.1% for emerging market and developing economies.
Vietnam's legislature approved on Thursday the resignation of its chairman Vuong Dinh Hue, it said in a statement, the latest top official to step down amid an intensifying anti-graft crackdown by the ruling Communist Party. Hue's departure, which had already been announced last week by the party's central committee, leaves Vietnam with no permanent holders for two of its four top leadership positions, after president Vo Van Thuong quit in late March.
Pakistan's business leaders press PM Shehbaz Sharif for India trade talks, citing economic benefits amid concerns over political stability and high costs."
Kenneth Rogoff, former chief economist of the IMF and Maurits C. Boas Chair of International Economics at Harvard University, discusses the record rise in military expenditure worldwide. He argues that military spending is not good for growth or consumption because it is destructive. The US and Europe are facing pressures today due to Ukraine, the Middle East, and potentially Taiwan, but the defense budgets of the West are tuned to a different era. The US has not prepared its people for greater military expenditure, and voters are talking about universal income, increased transfers, more social spending, etc., but realistically, defense spending will need to increase.