Monday, July 29, 2013
Asia This Day:China,Japan,Australia
There's no doubt that we have to be relevant across the world,said Alex Malley,CEO of CPA Australia.In Australia at the moment,the politics are dramatic,but they're not good for the country.The whole world rests on integration with China.One of the sleeping giants is in agriculture and professional services for China.*Chinese industrial profits slipped from a 12.3% increase in May to an 11.1% increase in June.The causes include a slowdown in sales and rising materials costs.*Japanese consumer prices rose at their highest pace year over year since November 2008,a sign of inflation and economic recovery after two decades of deflation.*Asian markets will be responding this week to more Chinese and Japanese economic data,as well as a meeting of India's central bank.*China's move to a more consumer-based economy from rapid infrastructure development has repercussions for mining and mining services concerns.*China and the EU avoided a trade war Saturday by reaching a deal on imports of Chinese solar panels.*The MSCI Asia Pacific index was down 0.71% in early Monday trading.*CPA Australia has more than 144,000 members in 127 countries.It provides education,training,tech support and advocacy for its members,representing the accounting profession to all levels of government,regulators,academe,industry and the general public.