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Henry Hing Lee Chan:
By Henry Hing Lee Chan - 26 Apr 2017
The rise of Uber and the challenges it now faces illustrate the pitfall of innovation. While one cannot argue against the sharing economy aspect of Uber, one cannot also ignore the regulatory arbitrage issues raised by the taxi drivers.
By Henry Hing Lee Chan - 17 Apr 2017
Modi explained that the demonetization was to stop counterfeiting of the current banknotes, as these had allegedly been used for funding terrorism. It was also designed to crack down on black money, a term which refers to income illegally obtained or undeclared for tax purposes.
Rodrigo Duterte’s silence on the US-Philippines mutual defence treaty ensures a certain degree of US influence on Philippine foreign policy. His posture on foreign policy independence to steer clear of big power rivalries and taking domestic issues as national priorities can meaningfully lower tensions in the South China Sea.
The success of Duterte’s visits to Beijing and Tokyo has initiated new dynamics in ASEAN’s position on the South China Sea issue. The Philippines will assume the rotating chairmanship of ASEAN next year and its success in lowering tensions on the South China Sea issue will likely become the ASEAN stand.
The Chinese government has prohibited the practices of cash pooling, loan granting, and deposit taking, and has now limited the P2P platform operator’s role to just providing a matching place for lenders and borrowers, acting only as an information rather than a credit intermediary.
The most alarming sign of a Chinese property bubble is the accelerated price movement in recent months. A more than 30 percent year to year price rally across a number of big cities and the sharp increase in mortgage lending have heightened concern that the property bubble is being reinflated.
The Industrial and Commercial Bank of China is under police investigation over a fraud case reportedly involving RMB 3 billion worth of fake trade bills in the nation’s e-commercial draft system, highlighting the need to set up a more robust financial market framework.
The rise of corporate bond defaults and corporate downgrades has renewed calls for the establishment of a credit default swap market in China. The People’s Bank of China appears poised to give the hedging scheme the go-ahead in the near future.