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The challenges have been increasing as support for the US dollar has been declining with the rise of China as a stronger economic power. This article focuses on globalization in a new context and takes a closer look at the reshaping of the global financial system. World currency Globalization has basically reshaped the activities of economic powerhouses, such as the European Union and the United States of America. As a result, the financial systems of developed economies have changed with the current global financial flow. Emerging and developing economies are increasingly contributing to changes in global economic growth. This clearly indicates that these growing economies have a larger share now in global economic trade activities. International trade expansion has been accompanied by an increase in foreign assets. It indicates that the interest of major economies has grown in promoting of global trade in order to increase the money supply (Fig 1). Therefore, an increase in … [Read more...] about Global challenges to dominant world currency

Vietnam’s skilled workforce, optimistic economic outlook, and competitive wage prices are among the factors drawing foreign investors’ attention to the country. An estimated 21% of Indian companies that have operations in Southeast Asia or expect to do so in the future show their plan to expand their businesses in Vietnam in the next two years. Whilst, 26% of Chinese corporates in Vietnam are looking to prioritize growth here over the next two years. Car production at Thanh Cong Hyundai Plant. Photo: Viet Dung These are some of the key findings from HSBC Navigator: SEA in Focus , which surveyed more than 1,500 companies from six of the largest economies in the world, including China, France, Germany, India, the UK, and the US – all of which have operations in Southeast Asia or have plans to do so in the future.  The survey gauges their sentiment on doing business in Southeast Asia, with a particular focus on trade, digitization, and sustainability. … [Read more...] about Companies from China and India temped to move to Vietnam

Many real estate brokers are joining training classes to get licences. — Photo from luatsu-vn.com The number of real estate brokers flocking to get licences to avoid punishment has skyrocketed. A recent decree stipulates that brokers found working without a licence will be fined up to VND60 million (US$2,600). Besides, they face fines of hundreds millions of dong if they provide wrong information about any product. After the regulation came into effect, thousands of brokers in HCM City and southern provinces have joined training courses, 10 times higher than a few months ago, vnexpress.net reported. The training covers the Housing Law, Land Law, Construction Law, Law of Real Estate Business, Civil Code Law and Commercial Law, ethics and basic knowledge about being a broker. Le Phuong Dong, head of the Viet Nam Association of Real Estate Brokers representative office in the Cuu Long (Mekong) Delta said the number of people sitting examinations to get the certificate in May … [Read more...] about Real estate brokers scramble to get licences to avoid big fines