Asia Pacific round-up: Consumer spending won’t come to rescue, and more

28 Aug 15

A round-up of public finance news stories from Asia Pacific you might have missed.

Asia consumer spending won’t come to rescue

Consumption is losing its position as a key driver of growth in Asia as household debt builds and economic growth slows. (Wall Street Journal)

China has been showing signs of economic slowdown, trade partners say

The sharp dive in Chinese stocks this week sent a sudden chill through markets around the world, from New York to Mumbai. But for months, some of China's nearest neighbours and top trading partners have felt cool breezes blowing through the world's second-biggest economy. (LA Times)

Philippine economy grew 5.6% in the second quarter

The Philippine economy grew by 5.6% in the second quarter from a year ago, slightly below the government's target, officials said on Thursday. (New York Times)

Why cheap oil might be good for India

As markets crashed around the world this week, Indian Prime Minister Narendra Modi saw a chance to revive his stalled reform agenda. (Bloomberg)

Japan to cut cost for Olympic stadium by third - lawmakers

Japan plans to slash construction costs for a new national stadium, the centrepiece of the Tokyo 2020 Olympics by a third from the previous estimate of $2.1 billion, several ruling party lawmakers and senior government officials said on Thursday. (Reuters)

South Korea finance minister says he will boost defence related spending

South Korea's finance minister said the government is planning to boost defence related spending for next year, days after a spike in tensions between North and South Korea that sparked an exchange of artillery fire. (Channel News Asia)

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