Following the release of new draft regulations on data transfer by the Cyberspace Administration of China, Zhouchen Mao, Head of Research and Advisor, takes stock of the new rules and implications. 

The race is on: Southeast Asia’s largest economy is going to polls this February. With current Indonesian President Joko Widodo constitutionally barred from running a third term, businesses are closely watching the presidential race for insights into the country’s future economic trajectory. 

Key issues on the radar include the candidates’ approach to infrastructure projects and investment incentives. Additionally, the candidates’ stances on foreign policy and strategies for energy transition are of paramount interest to both domestic and international business communities. 

The renminbi’s (RMB) share of global trade finance is likely to continue to grow, notwithstanding the uncertainties in China’s growth outlook. Previous Asia House research highlighted macroeconomic and digital tipping points that could drive RMB internationalisation particularly in trade finance. The RMB share of global trade finance has now overtaken the euro’s share. RMB now accounts for nearly 6 per cent of trade settlement, a near-tripling from September 2020. It has now overtaken the euro share of 5.3 per cent.

ASEAN and the GCC have formally met at the highest level for the first time in a move which underlines the growth in regionalism within the global economy, but also the growing desire among middle income countries to diversify economic relations, particularly to reduce dependency on Western markets.