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Japan's GDP per capita is projected to plummet from 29th to 45th globally by 2075, with real GDP expected to grow to $4.4 trillion but drop its global ranking from fourth to 11th. Contributing factors include a declining population, low fertility rates, and limited benefits from AI advancements, necessitating urgent labor reforms to boost productivity. Meanwhile, emerging markets like India are set to rise significantly, with BRICS nations projected to surpass the US in total GDP by 2075.
Tesla is less impacted by Trump's new auto tariffs due to its largely domestic production and supply chain, with analysts noting potential benefits in the U.S. market. However, the company faces challenges in Europe and Canada, where reduced incentives and policy headwinds threaten demand. Despite a recent stock increase, Tesla's shares have dropped over 40% since December amid growing criticism and protests against the company.
The central bank has issued digital currency to seven banks, including Kookmin and Shinhan, as part of a pilot program. Meanwhile, Xiaomi plans to raise up to $5.27 billion through a share placement for business expansion and tech investment. In Japan, private equity firms are targeting the fragmented HR tech market, driven by low interest rates and a focus on governance, despite challenges from competition and global firms.
The Bank of Korea is actively testing a digital currency for potential real-world applications. This initiative marks a significant step in exploring the future of digital finance and its integration into everyday transactions. The outcomes of these tests could shape the landscape of monetary policy and consumer behavior.
The Bank of Korea will launch a digital currency pilot program, “Project Han River,” from April 1 to June 30, distributing digital currency to seven banks for use by 100,000 individuals at various retailers via QR code. Participants can register starting March 25, with a holding limit of 1 million won and a total cap of 5 million won. The initiative aims to streamline payment processes and reduce transaction fees while addressing issues like benefit fraud.
The Computer & Communications Industry Association (CCIA) has raised concerns over South Korea's ban on exporting high-precision map data, arguing it unfairly disadvantages international providers against local firms. The Korean government has not approved any export applications from foreign companies, jeopardizing an estimated $130.5 million in annual revenue for US mapping services. Additionally, the CCIA criticized South Korea's Cloud Security Assurance Program for creating further barriers for US cloud service providers.
US equity futures show cautious optimism as markets anticipate less severe tariffs than expected, with potential exemptions for certain countries. Attention turns to upcoming flash manufacturing and services PMI data, while Asian markets remain flat amid tariff uncertainties, particularly affecting Chinese equities. Gold prices are stabilizing after recent highs, with geopolitical risks still in focus.
South Korea's early March export data showed recovery from lunar new year distortions, driven by ships and chips, though consumer sectors lagged. In the US, job losses linked to trade taxes are reported, raising concerns about potential economic impacts if unemployment fears grow. Meanwhile, Japan's February consumer price data indicated slower inflation, and the Bank of England's Governor highlighted economic uncertainty, with the ONS suspending producer price data due to reliability issues.
Morgan Stanley forecasts that the Bank of Korea will implement three additional interest rate cuts this year, bringing the base rate down to 2%. Following a recent reduction from 3% to 2.75%, the bank's Monetary Policy Committee acknowledged increasing downward growth pressures, prompting this continued easing. Morgan Stanley projects South Korea's economic growth at 1.2%, below the Bank of Korea's estimate of 1.5%.
Morgan Stanley forecasts that the Bank of Korea will implement three additional interest rate cuts this year, bringing the benchmark rate down to 2.00%. This prediction follows a more pessimistic economic growth outlook of 1.2% compared to the Bank of Korea's 1.5%. The Monetary Policy Committee acknowledged increased downward pressure on growth, influenced by a weakened labor market and high household debt, while also addressing inflation and foreign exchange volatility concerns.
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japan's economic decline projected by 2075 amid population challenges and reforms
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