Home Business Your Saturday Asia Briefing: 2022 Movers, Shakers and Smugglers

Your Saturday Asia Briefing: 2022 Movers, Shakers and Smugglers

9 min read
Comments Off on Your Saturday Asia Briefing: 2022 Movers, Shakers and Smugglers


Something for the weekend

Article content

(Bloomberg) — After another miserable week with markets hijacked by gloomy central bankers, take a breath and wind down for the weekend. From Sam Bankman-Fried to the residents of Beijing, there’ll be plenty of opportunity to review the events of 2022 undisturbed, with many others enjoying quality time at home preparing for the holidays. Here’s a chance to look at some of the big themes and players of the year and consider what lies ahead. 

Advertisement 2

Article content

Beijing’s exploding coronavirus outbreak has turned the Chinese capital into a virtual ghost town as President Xi Jinping’s sudden pivot away from Covid Zero allows the virus to run rampant. That doesn’t bode well for other cities around the country that have less developed health care systems.

Article content

Still, not everyone is Beijing is staying home. The Central Economic Work Conference, an annual planning meeting of Chinese leaders, wrapped up this week with officials pledging stronger monetary and fiscal stimulus for the economy and support for private businesses as the government shifts away from controlling Covid toward boosting growth. 

The global energy crunch caused by Vladimir Putin’s invasion of Ukraine has been a major contributor to inflation, squeezing households around the world. In Australia, the rising cost of fuel has blown up into a major political row after the government capped the price of domestic natural gas. Read about the government’s “Marxist power grab” vs the industry’s “Putin profits.”

Advertisement 3

Article content

The war in Ukraine of course has impacted more than just energy. But what does Ukrainian leader Volodymyr Zelenskiy have in common with Lawrence Wong, Tom Cruise and Bad Bunny? They’re all in the Bloomberg 50, our list of people who defined global business in 2022.

Housing costs have also been an issue this year as more young people struggle to find affordable homes. So how about a free house? In Taiwan, villages once used to house retreating Nationalist soldiers in 1949 during the Chinese Civil War were lying in ruins as the original residents moved away or died. But one local government managed to revitalize communities thanks to a simple and enticing strategy. Here’s how they did it.

It’s been a big week at Bloomberg for smugglers. Read here about how the world’s biggest shipping line became infiltrated with cocaine smugglers, leading to a billion dollar drugs bust. And find out what happened to the people who spirited former auto titan Carlos Ghosn out of Japan.

Advertisement 4

Article content

Also on Santa’s naughty list is the ever-present Bankman-Fried. Just over a month ago, the former FTX chief was undisputed king of the digital-asset industry. Now the 30-year-old is under arrest, facing criminal charges, while almost a million FTX creditors are unlikely to get their money back. Listen to the podcast of how contagion from the FTX collapse is spreading through the crypto ecosystem. 

Still, it’s Saturday and there are other things to worry about as the holidays approach, like baking up a storm for the invading hordes of guests. if so, you may want to avoid “the worst food trend” of the year. Or, if you’d rather just relax with a good read, here are 52 new books that some of the world’s top business leaders recommend.

Have an edacious weekend.



Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.


Source link

Load More Related Articles
Load More By 
Load More In Business
Comments are closed.

Check Also

When is the Right Time of Year to Transport Your Vehicle?

Transporting a vehicle can be a stressful experience, especially if you are unsure about t…