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July 18th, 2024

Pakistan turns to the IMF once again

$7 billion support package underscores unhealthy dependence on financial aid

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The Big Story

Why Pakistan cannot resist going back to the IMF for another fix

Latest $7bn injection of support will not itself end country's cycle of dependence

Demonstrators in Bara, Pakistan, protest against new taxes on July 7: The government's push to increase revenues has not been popular.
Acer cofounder Stan Shih spoke with Nikkei ahead of a visit to Japan. (Photo by Hideaki Ryugen)
Technology

Japan's chip industry can be revived, Acer cofounder says

Stan Shih urges closer cooperation with Taiwan in semiconductor supply chain

Pursuit of the "dual circulation" strategy means China relies as little as possible on foreign resources and technology.
Opinion

The future for foreign companies in China looks increasingly finite

Capricious rules and stiffer competition are making life difficult

Indonesia's President Joko Widodo delivers his speech during launching of Indonesia's first battery cell production plant for electric vehicles, July 2024.
Opinion

Indonesia's EV drive faces geopolitical headwinds

Jakarta is betting big on producing electric vehicles, but so are much larger powers

Republican presidential candidate former President Donald Trump is helped off the stage at a campaign event in Butler, Pennsylvania, on July 13.
The Nikkei View

Trump assassination attempt is threat to democracy

Forcible oppression of free speech must not be tolerated

Claw machine, or UFO catcher, shops are cropping up in Hong Kong's premier retail districts like Causeway Bay, left and Mong Kok, right. (Source photos by Ken Kobayashi and Peggy Ye)
Business Spotlight

Hong Kong's rise of the claw machines reflects property fall

Young entrepreneurs use arcade games to grab low-rent opportunities

Guzman looks to quintuple its stores in Australia to 1,000. (Photo by Rurika Imahashi)
Food & Beverage

Australia's Guzman y Gomez plans big expansion after splashy IPO

Soaring stock price may stem from quiet market as profitability concerns remain

A Swee Lee store in Singapore, popular as a place for music fans to interact. (Photo by Mayuko Tani)
Startups

Singapore startup's stores and apps connect world's music fans

Caldecott expands through acquisitions of instrumental brands and composition software

China accounted for 43% of Applied Materials' sales for the February-April period this year. 
Semiconductors

U.S. chip equipment makers rely on China for 40% of sales

Applied Materials, Lam Research ship legacy products not targeted by export curbs

Staff from housekeeping services provider Bears. While a severe labor shortage in Japan means many companies are keen to hire from overseas, comparatively low wages and the historically weak yen are blunting the country's appeal. (Photos by Yuji Murakami and Ryosuke Matsui)
Asia Insight

Japan's new enemy in fight to lure immigrant workers: The tumbling yen

Visa rules eased, but currency weakness tarnishes Japan's appeal for overseas hires

Taiwan's newly appointed Foreign Minister Lin Chia-lung, left, stands with President-elect Lai Ching-te in April, ahead of Lai's inauguration. Lin is working to rev up Taipei's economic diplomacy, officials say. (Photo by AFP/Jiji)
International relations

Taiwan foreign minister steps up economic diplomacy under China pressure

Lin Chia-lung aims to establish overseas industrial zones, insiders say

China's silver economy could be worth as much as 30 trillion yuan ($4.1 trillion) and account for 10% of GDP by 2035, according to experts.
Business trends

China hopes senior citizens can spend the country out of its doldrums

Proportion of elderly heading toward 30%, with many pursuing a better life

Japan Defence Minister Minoru Kihara, left, and Philippine President Ferdinand Marcos Jr., right, shake hands alongside Japan Foreign Minister Yoko Kamikawa, center, following the signing of the reciprocal access agreement, at the Malacanang Palace in Manila, July 8. (Pool/Getty Images)
International relations

Philippines-Japan troop pact 'launchpad' for more defense ties

Experts expect extension of Manila-Tokyo deal to counter Chinese aggression

A portrait of I.M. Pei taken in 1965 when he was selected to design the John F. Kennedy Presidential Library and Museum in Dorchester, Massachusetts. (© John Loengard/The LIFE Picture Collection/Shutterstock)
Arts

'Superstar' architect I.M. Pei gets first retrospective

Hong Kong exhibition presents a hoard of previously unseen material

Viewers are served up insights on the world of Japanese school lunches in the recently released movie "Oishii Kyushoku 3," which unofficially translates to "Yummy School Lunch 3."  (2024 Oishii Kyushoku Production Committee) 
Tea Leaves

Learning from Japan's 'yummy' school lunches

The enduring tradition of 'kyushoku' levels the playground for pupils