Hong Kong has built a reputation as a tax haven. The highest income tax rate is 17 percent. It charges no sales or capital gains taxes.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Feb 25 2025
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INDONESIAN ECONOMY LOSES ITS “BACKBONE” AS MIDDLE CLASS DISAPPEARS
Indonesia’s middle class, long considered the backbone of the aspirational country’s economy, has shrunk by about 20 percent since 2018, threatening growth and frightening away foreign investors, the Financial Times reported.
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AUSTRALIA’S CENTRAL BANK CUTS INTEREST RATE TO FOUR-YEAR LOW
The Reserve Bank of Australia has cut its key interest rate by a quarter point to 4.10 percent, the first reduction in four years.
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CHINA’S PORTFOLIO OF U.S. TREASURIES IS SMALLEST IN 16 YEARS
China’s holdings in U.S. treasury securities has dwindled to its smallest since 2009 as Beijing has diversified into other assets, especially gold, the Financial Times reported.
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EUROPE MUST DEMAND ACCESS TO CHINA’S BATTERY KNOW-HOW, GROUP SAYS
Europe’s automakers and Chinese battery suppliers are focused on securing adequate battery supplies for electric vehicles (EVs), but that short-term thinking risks weakening the continent’s industrial base further, a new study warns.
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SPOTLIGHT: BIGS GETTING BIGGER
After sitting out much of the past two years and making minimal distributions to investors, private equity firms are back in action, according to the industry’s newest earnings reports.
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GERMAN INDUSTRIAL BASE IS LOSING WORKERS, INVESTORS
Since the onset of the COVID War, Germany has lost about 250,000 manufacturing jobs, a sign “that Europe’s industrial heartland is suffering an irreversible decline,” the Financial Times said.
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NIKOLA FILES FOR BANKRUPTCY
Nikola, a highly touted start-up that made hydrogen-fueled semi trucks powered by fuel cells, has filed for Chapter 11 bankruptcy, listing $98 million in debt and other financial obligations.
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EUROPEAN STOCKS OUTPERFORM U.S. SINCE TRUMP’S INAUGURATION
Since 17 January, the last trading day before Donald Trump was inaugurated as U.S. president, the pan-European Stoxx 600 index has grown by 5.2 percent, while the U.S. NASDAQ has added 1.4 percent and the Standard & Poor’s 500 index 1.7 percent.
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EUROPE’S ECONOMY CONTINUES TO STAGNATE, STUDY FINDS
The Eurozone’s economy has flatlined this month as signs of improvement in Germany were negated by a sharp drop in French business activity, new surveys show.
