Economy: News & Insights

Buildings damaged by the volcanic eruption and tsunami in Tonga. Much of the capital Nuku'alofa remains covered in ash. (Photo courtesy of Marian Kupu/Broadcom Broadcasting FM87.5/via Reuters)

Interview

Tonga volcano: An explosion, then a rain of ash and rocks

Local journalist describes moment of eruption, ongoing water shortage

21 January 2022

This photo from the window of a New Zealand Defence Force P-3K2 Orion surveillance flight shows heavy ash fall over Nomuka in Tonga.

International relations

Australia and New Zealand compete with China for Tonga influence

Neighboring countries send ships and aid to help nation after volcanic eruption

20 January 2022

A New Zealand Defense Force flight shows heavy ash fallen over the Tongan island of Nomuka on Jan. 17. (New Zealand Defense Force via Reuters)

Natural disasters

Tonga to be cut off from world for weeks as volcano severs cable

Phone and internet service down while satellite links hampered by ash

19 January 2022

An eruption occurs at the underwater volcano Hunga Tonga-Hunga Ha'apai off Tonga on Jan.15.

Natural disasters

Satellite images show explosive power of Tonga underwater volcano

Experts say 'once-in-a-century' eruption has unique seismic features

18 January 2022

The eruption of an underwater volcano off Tonga, which triggered a tsunami warning for several South Pacific island nations, is seen in an image from the NOAA GOES-West satellite taken at 05:10 a.m. GMT on Jan. 15. (Handout photo from CIRA/NOAA)

Natural disasters

Japan's eastern coast hit by tsunami triggered by Tonga eruption

Waves 1.2 meters high reported; agency warns of those up to 3 meters

16 January 2022

Novak Djokovic waits at an Australian Border Force desk on his arrival at Melbourne Airport on Jan. 5: it is not just Djokovic who will pay the price.

Opinion

Djokovic saga highlights Australia's border obsession

Unsympathetic sporting himbo is an unlikely exposer of injustice

8 January 2022

Fresh produce sold at the Efate Port Vila Market in Vanuatu, one of the four Pacific island nations considering issuing a digital currency. (Photo courtesy of the Asian Development Bank)

Cryptocurrencies

Pacific island nations probe digital currencies with Tokyo startup

Soramitsu to run feasibility studies in Fiji, Solomon Islands, Tonga and Vanuatu

29 December 2021

The open pit mine of Molycorp's Mountain Pass rare earth facility in California, pictured in September 2009: the U.S. cannot make the same mistake again.

Opinion

Breaking China's grip on rare earths should be an AUKUS mission

Beijing has too much control over critical materials vital to advanced technology

20 December 2021

Economy

Australia fears of Q3 GDP slump lessened by robust recovery

Government firm on keeping economy open as 87% of adults double vaccinated

1 December 2021

Natalie Black, trade commissioner for the Asia-Pacific region: "Trade is about promoting free and open societies and demonstrating that capitalism works for everyone."

Interview

U.K. 'on track' to join CPTPP by 2022, trade official says

E-commerce, state spending talks 'moving incredibly quickly;' tariffs up next

16 November 2021

A containership at a port in a Shenzhen free trade zone: APEC's joint statement called trade a "pillar for the development and future prosperity of all our people."

International relations

At APEC, Xi vows to open China as Taiwan promotes CPTPP bid

Biden raises U.S. engagement while grouping seeks trade-led COVID recovery

13 November 2021

Full vaccination rates vary widely across APEC, with Vietnam toward the lower end at about 30%.

COVID vaccines

APEC ministers pledge more COVID vaccines and safe travel

21 members, including U.S. and China, hold virtual talks ahead of Friday summit

10 November 2021

The liquefied hydrogen carrier, which will be used as part of a hydrogen supply chain pilot project between Australia and Japan, is docked at Kobe Works yard in Kobe, western Japan, on July 15. (Photo by Hideyuki Miura)

Opinion

Green hydrogen can re-energize Indo-Pacific relations

Close cooperation between regional governments will be an essential enabler

7 November 2021

RCEP comes into force 60 days after six of 10 ASEAN nations and three of five other countries submit depositions to ASEAN, which is serving as the wider bloc's secretariat.

Trade

World's biggest trade deal RCEP to take effect Jan. 1

Asia-focused pact covers 30% of global population and GDP

4 November 2021

Sunbakers gather on Coogee Beach in Sydney on Sept. 12: those less fortunate looked on through gritted teeth.

Opinion

COVID lays bare Australia's dyed-in-the-wool complacency

Has the 'lucky country' finally run out of luck?

2 October 2021

French President Emmanuel Macron, second from left, and then-Australian Prime Minister Malcolm Turnbull, center, on a Royal Australian Navy submarine in May 2018. (AAP image/Mick Tsikas)

International relations

EU pushes back Australia trade talks over France submarine snub

AUKUS deal puts goal of FTA by year-end further from reach

2 October 2021

A liquefied hydrogen carrier transporting its first cargo from Australia extracted from brown coal is docked at Kobe Works yard in Kobe, western Japan, on Jan. 13: not all hydrogen is the same. (Photo by Naoki Hori)

Opinion

Our climate emergency requires huge amounts of green hydrogen

Energy source provides unmatched potential to cut global emissions

29 September 2021

A draft of a joint statement obtained by Nikkei shows how Quad leaders intend to take a stand against China's use of science and technology to maintain authoritarian regimes around the world.

Indo-Pacific

Quad leaders to call for securing chip supply chain

Japan, India, Australia and U.S. leaders to link advanced tech with human rights

19 September 2021

Representatives of Comprehensive and Progressive Agreement for Trans-Pacific Partnership member countries take part in a news conference in Santiago, Chile, in 2019.

Trade

China officially applies to join CPTPP trade pact

Bid comes day after U.S., U.K. and Australia announce new defense partnership

16 September 2021

In this image made from video, Lt. Col. Mamady Doumbouya, center, commander of the army's special forces unit, surrounded by others and draped in a Guinean flag, makes an address to the nation from state television headquarters in Guinea's capital, Conakry, on Sept. 5.

Commodities

Guinea coup upends China strategy as aluminum prices soar

Beijing's dependence on Australia rises while uncertainty clouds African source

8 September 2021

Protestors in Pakistan demonstrate against debt servitude. Australia implemented a law in 2019 that requires businesses to disclose labor abuses in their supply chains.

Business trends

Suspect suppliers ousted under Australia's anti-trafficking law

Retailer Woolworths takes steps to rid supply chain of Xinjiang cotton

31 August 2021

New Zealanders drive to a vaccination center in Auckland on Aug. 26, with the country's largest city under a strict lockdown.

Coronavirus

New Zealand's delta COVID outbreak grows amid race to vaccinate

Extended lockdown tests economic resilience with uncertain end point

27 August 2021

The Australian dollar touched a roughly nine-month low against the U.S. dollar last week.

Currencies

China risk sends Australian, South Korean currencies sliding

Fear of Chinese slowdown weighs on export-heavy nations

27 August 2021

Warships participate in the 2020 Malabar exercise involving the four Quad members: the U.S., Japan, India and Australia.

International relations

Quad navies gather for drills as Australia courts India on trade

'Good luck with that,' expert says of Canberra's push for alternative to China

26 August 2021

An 11-year-old boy collecting garbage at the Bhalswa garbage dump in North Delhi, India earlier this year. ADB estimates that up to 80 million more people have been plunged into extreme poverty by the impact of the pandemic.

Economy

Pandemic plunges 80m people in Asia into extreme poverty: ADB

Latest findings show region's sustainable development agenda under threat

24 August 2021