Kelvin Tay

An immediate risk is that concerns over debt sustainability and credit rating cuts could trigger periodic volatility in bond yields

Investors are primarily concerned about sluggish productivity growth despite the growing momentum of artificial intelligence

The authorities are addressing the excessive price competition that is leading to diminishing returns, while also seeking to manage capacity expansion

No country has an unlimited capacity to carry debt. Past rating downgrades point to the US having run out of its extra debt capacity

Overall growth in Asia could fall to 4% in 2025, down from 5.1% last year, with the trade-driven economies of North Asia, Thailand, Malaysia and Singapore more susceptible

Since 1920, the Year of the Snake has been the worst performing of the twelve zodiac animals

Deglobalisation, debt, demographics, decarbonisation and digitalisation are key trends to watch

Slow, painstaking improvement is probably the only way the country’s property market and local government debt are ever going to right themselves

The persistent shift away from globalisation, among other forces, will make policymakers more willing to tolerate inflation overshoots

Cheap yen and negative interest rates have been a big driver of the country’s equities performance, but these conditions are set to reverse this year