2025-04-21: Hanoi Advances Major Commune and Ward Consolidation
Taiwan Implements Indefinite Market Stabilization Measures
Good Morning,
Below are some of the most important developments in business and economics in Asia today.
▪️ Singapore: Singapore Parties Roll Out Policies and Candidates as 2025 Election Campaigns Intensify
Singapore’s 2025 general election will test parties’ policy platforms and candidate selections as they engage voters on key economic and social issues.
▪️ Japan: Progress and Obstacles in Japan-US Tariff Negotiations
Japan and the United States are engaged in complex negotiations over tariffs that span agricultural exports, industrial imports, safety inspections, and defense spending.
▪️ India: US and India Begin Formal Negotiations on Comprehensive Trade Agreement
The United States and India are preparing to launch negotiations on a comprehensive bilateral trade agreement that spans roughly 19 topics.
▪️ Vietnam: Hanoi Advances Major Commune and Ward Consolidation for Administrative Reform
Vietnam’s capital city is undertaking a comprehensive reorganization of its local administrative structure to optimize governance and resource allocation.
▪️ Taiwan: Taiwan Implements Indefinite Market Stabilization Measures Amid US Tariff Volatility
Taiwan’s Financial Supervisory Commission has taken decisive steps to maintain market stability amid US tariff-driven volatility.
▪️ South Korea: Record-Breaking Global Expansion of Korean Cosmetics Reshapes Export Markets
In 2024, the Korean cosmetics industry set a record with $10.2 billion in exports—a 20.6% increase over the previous year—elevating K-beauty alongside semiconductors and automobiles as a leading export sector.
For more information on these developments, please see the full report below.
Thanks for reading,
Rodney J Johnson
Today's Developments
Widely Reported On Issues of Importance
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Singapore Parties Roll Out Policies and Candidates as 2025 Election Campaigns Intensify
Singapore’s 2025 general election will test parties’ policy platforms and candidate selections as they engage voters on key economic and social issues.
Singapore’s general election will take place on May 3, following Parliament’s dissolution, with nomination day on April 23 confirming constituencies and candidate names. Parties are finalizing manifestos and slates around cost of living, housing affordability, job security and political plurality to address rising living expenses and wage stagnation amid broader economic uncertainties.
Amid these debates, Red Dot United launched its manifesto under the slogan First-class citizens, fairer Singapore, organizing its campaign around five themes: Collective Prosperity, Citizens Dividend, Comprehensive Housing Reset, Caring Healthcare and Civil Freedom.
The party proposes an unconditional cash transfer for all citizens as a safety net, revised public housing policies to preserve the value of older flats, expanded public rental housing and a rent-to-own scheme. It also calls for a citizens‑first hiring policy to tackle wage stagnation, a redesign of MediSave for healthcare financing, restructuring the carbon tax to hold corporations accountable for emissions and enacting a Freedom of Information Act to boost transparency and reform suppressive laws.
Meanwhile, the Workers’ Party unveiled 14 new candidates, including Senior Counsel Harpreet Singh Nehal, policy analyst Sufyan Mikhail Putra Mohd Kamil, educator‑financier Jasper Kuan Hon Whye and former diplomat Eileen Chong Pei Shan.
Harpreet Singh pledges deeper constituent engagement, Sufyan Mikhail emphasizes cost of living and housing issues, and Jasper Kuan advocates a less stressful education system. Secretary‑General Pritam Singh pointed to recent funding policy changes that have expanded opposition parties’ capacity for community projects. The party intends to contest fewer than one‑third of the 97 parliamentary seats, with final lineups confirmed on nomination day.
Elsewhere in Jalan Kayu SMC, NTUC secretary‑general Ng Chee Meng declared his intention to contest under the PAP banner, stressing the party’s role in determining constituency assignments.
The Workers’ Party reaffirmed its focus on northeastern areas it has previously contested and declined to discuss pre‑election strategies to avoid multi‑cornered fights. The People’s Reform Alliance, People’s Power Party and Red Dot United also expressed interest in Jalan Kayu before the Reform Alliance withdrew. Observers are also watching for potential multi‑corner contests in Tampines GRC and Tampines Changi SMC.
Analysts note that voters remain concerned about inflationary pressures, housing affordability, job prospects and the sustainability of government assistance programs.
Younger voters prioritize employment and housing, while older constituents focus on retirement security. Middle‑class electorates track broader issues such as immigration and international developments, underscoring demand for diverse political representation and comprehensive policy solutions.
References for this Development
红点同心党公布竞选口号 盼构建更公平的新加坡
Red Dot United Party announces campaign slogan, hopes to build a fairer Singapore
8World News | Local Language | News
黄志明早上宣布参选 工人党下午出现在惹兰加由
8World News | Local Language | News
GE2025: WP unveils third batch of potential candidates, including senior counsel Harpreet Singh
Channel News Asia | English | News
Channel News Asia | English | News
GE2025: PAP likely to field 4 new faces in Nee Soon GRC, says Shanmugam
Channel News Asia | English | News
生活费就业与政治多元成大选焦点 分析师：政策与关税冲击左右选情
8World News | Local Language | News
上届以微差当选 毕丹星：盛港仍会是一场硬战
8World News | Local Language | News
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Progress and Obstacles in Japan-US Tariff Negotiations
Japan and the United States are engaged in complex negotiations over tariffs that span agricultural exports, industrial imports, safety inspections, and defense spending.
At a White House meeting with President Trump, Economic Revitalization Minister Akazawa Akimasa and other Japanese officials explored using expanded exports of rice and soybeans as leverage in their tariff talks. US representatives—including Treasury Secretary Bessent and US Trade Representative Gurria—criticized Japan’s automobile and rice import regimes and urged higher imports of meat, seafood, and potatoes. The Japanese delegation offered to boost rice and soybean shipments in response, but the US side reiterated previous trade barrier concerns without identifying new priorities.
Despite this initial exchange, significant obstacles remain.
Prime Minister Shigeru Ishiba recognized gaps in the negotiations and ordered the government to accelerate discussions ahead of the next round scheduled for late April. The Trump administration paused new reciprocal tariffs for 90 days but maintained a 10‑percent baseline tariff on most goods and 25‑percent duties on steel, aluminum, and automobiles, ensuring those measures continue to shape the negotiating environment.
To address US criticisms of nontariff barriers in Japan’s automotive market, the government is considering simplifying inspection procedures for American vehicles by adopting the unified inspection framework used for European automakers, thereby reducing the stringency of current safety checks.
Japan plans this change in response to the US imposition of a 25‑percent tariff on auto imports starting April 3 and a 10‑percent tariff on most other goods beginning April 5.
President Trump also raised concerns about Japan’s defense spending, and Defense Minister Gen Nakatani responded that defense budgets must remain separate from tariff talks.
Although no formal US communication has linked defense funding to trade negotiations, the administration’s unpredictable directives leave room for additional issues to arise.
US Ambassador George Glass arrived in Tokyo on April 18, 2025.
With a background in finance and technology, he expressed optimism about reaching a deal and stressed the urgency of resolving disputes caused by Trump’s tariff measures, which have raised global economic concerns. In his Senate confirmation hearing, he emphasized the high stakes of the negotiations, the need for direct tariff discussions, and the importance of reducing the US trade deficit with Japan, noting that other US allies are closely monitoring the outcome.
Former Japanese negotiator Kazuhisa Shibuya said negotiators may aim for a preliminary agreement by June, around the Group of Seven summit in Canada.
While a final accord remains the ultimate goal, an initial deal could secure approval from both Prime Minister Ishiba and President Trump. Shibuya noted that the first round of talks gave Japan clearer insight into US priorities and that Japanese leadership will play a key role in advancing the process.
References for this Development
関税交渉巡り外相 安保は別の話
Foreign Minister on tariff negotiations: security is a different story
Yahoo News Japan | Local Language | News
岩屋外相、日米関税交渉めぐり安全保障は「別のトラックの話だろうと思う」
The Sankei News | Local Language | News
New US ambassador to Japan says he’s optimistic a tariffs deal can be reached
Inquirer Net | English | News
首相と赤沢氏 関税協議巡って会談
Prime Minister and Mr. Akazawa meet regarding tariff negotiations
Yahoo News Japan | Local Language | News
INTERVIEW: Ex-Negotiator Expects Some Tariff Deal by June
Nippon | English | News
石破首相、赤沢氏らと日米関税交渉を協議 トランプ氏発言を分析
Mainichi Shimbun | Local Language | News
岩屋外相「安保は別のトラックの話」 日米関税交渉
Minister of Foreign Affairs Iwao: "Security is a different story" Japan-US tariff negotiations
Nikkei | Local Language | News
日米関税交渉で石破首相が赤沢氏らと協議 トランプ大統領の交渉での発言詳細を分析
The Sankei News | Local Language | News
Japan mulling simplified inspections for U.S. auto imports
Asahi Shimbun - E | English | News
対米関税交渉、車安全基準の緩和案 輸入の障壁見直し
Tariff negotiations with the US: proposal to ease car safety standards; review of import barriers
Nikkei | Local Language | News
日本政府、米関税協議でコメや大豆の輸出拡大を交渉材料に－読売
Yahoo Finance | Local Language | News
Japan considering soybean and rice concessions in U.S. tariff talks: report
Japan Times | English | News
対米関税交渉、コメ輸入拡大案 国産米の価格高騰も背景
Tariff negotiations with the US: Proposal to expand rice imports due to soaring domestic rice prices
Nikkei | Local Language | News
首相 対米関税交渉「カード」検討
Prime Minister considers "cards" for tariff negotiations with the US
Yahoo News Japan | Local Language | News
岩屋外相「安保は別の話」 日米関税交渉巡り
Nishi Nippon | Local Language | News
日米関税交渉で首相ら協議 トランプ氏発言の詳細分析
Prime Minister and others discuss Japan-US tariff negotiations: detailed analysis of Trump's remarks
Nishi Nippon | Local Language | News
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US and India Begin Formal Negotiations on Comprehensive Trade Agreement
The United States and India are preparing to launch negotiations on a comprehensive bilateral trade agreement that spans roughly 19 topics.
India and the US have finalized the terms of reference for this pact, which will cover tariffs, goods, non‑tariff barriers, customs facilitation, rules of origin, and regulatory matters.
Incoming Indian commerce secretary Rajesh Agrawal will lead a delegation to Washington on April 23 to resolve outstanding issues and formally begin talks.
Building on this framework, both sides aim to develop detailed terms of reference on tariff schedules, non‑tariff measures, and regulatory alignment.
A senior official noted they could secure an interim agreement during the current 90‑day tariff suspension imposed by the previous US administration. Negotiators target completion of the first phase by fall 2025.
Beyond any interim deal, Washington and New Delhi share a longer‑term goal of boosting bilateral trade to more than USD 500 billion by 2030.
The US seeks expanded access for industrial goods, automobiles, wines, petrochemicals, dairy, and select agricultural products. India plans to press for lower duties on labor‑intensive exports such as textiles, apparel, jewelry, and horticultural produce.
Trade figures from 2021–22 through 2024–25 show the US as India’s largest trading partner, with India posting significant surpluses in recent years.
The US‑imposed tariffs on certain Indian goods—aimed at reducing the bilateral deficit—were recently suspended for 90 days. These measures frame the urgency and scope of the upcoming negotiations.
References for this Development
SBI report urges India to expand PLI scheme as Trump announces reciprocal tariffs
Indonesia News | English | News
US tariffs may lead to dumping by competing countries in India: CareEdge
Indonesia News | English | News
Indian seafood exports to face significant pressure due to US reciprocal tariffs, says FICCI study
Indonesia News | English | News
India, US lock in 19-chapter trade deal terms, to open talks in Washington on April 23
The Economic Times | English | News
High tariffs once criticised by rich nations now back in global trade debate
Deccan Herald | English | News
Volvo to cut up to 800 US jobs as Trump's tariffs bite
The Economic Times | English | News
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Hanoi Advances Major Commune and Ward Consolidation for Administrative Reform
Vietnam’s capital city is undertaking a comprehensive reorganization of its local administrative structure to optimize governance and resource allocation.
Hanoi is implementing a plan to reduce its 526 communes and wards by roughly 70 percent.
Public consultations have begun in eight districts, and restructuring proposals are already on the table. Authorities will gather feedback, finalize the number of administrative units, and submit the project to the City People’s Council by April 29 and to the central government by May 1.
Under the proposed plan, several districts will consolidate wards: Ba Dinh’s 13 wards into three, Dong Da’s 17 into five, Hai Ba Trung’s 15 into three, and Hoang Mai’s 14 into seven.
Similar reductions are planned in Thanh Xuan, Bac Tu Liem, and other surrounding districts, affecting both urban wards and rural communes.
Local authorities will form committees to oversee the restructuring, aiming to create administrative units that strike a balance between size and manageability.
The revisions will standardize coverage across Hanoi’s diverse urban and rural landscapes.
Directive No 45, signed by General Secretary To Lam on behalf of the Politburo, sets new regulations for Party committee structures in merged localities ahead of the 14th National Congress.
For the 2025–2030 term, executive and standing committee numbers will match those established after the previous merger, with provisions for personnel adjustments and a plan for gradual reductions by the 2030–2035 term. In areas that remain unmerged, committee composition will mirror the 2015–2020 term, including positions for Secretary, Deputy Secretary, and local council chairpersons. The directive also requires integrating centrally mobilized cadres into leadership roles in consolidated regions.
The 14th National Congress, scheduled for early 2026, will review achievements from the past five years, set socioeconomic development goals for 2026–2030, and elect the Party Central Committee for the 2026–2031 term.
Delegates will focus on enhancing autonomy, fostering national pride, streamlining the political apparatus, and boosting administrative efficiency.
Hanoi City plans to finalize the arrangement and naming of commune-level units by the end of April 2025.
Commune, ward, and town People’s Committees will form working groups to collect voter opinions via household ballots or conferences, then compile and relay feedback to the City People’s Committee for submission to the Government and the National Assembly Standing Committee by May 1.
In Ba Dinh District, initial resident feedback shows strong support for the merger.
Ms. Tran Thi Hoi Chung expects improved administrative procedures, Ms. Nguyen Thi Minh Thu calls for enhanced technology and reliable internet to accommodate population growth, and Mr. Phan Minh Hai, a local group leader, emphasizes the need for stronger security and order. The District Party Committee and People’s Committee will hold a conference by April 21 to gather further voter insights ahead of the submission deadlines.
References for this Development
Vĩnh Long lấy ý kiến nhân dân về sắp xếp đơn vị hành chính 2 cấp
Vinh Long seeks public opinion on the arrangement of two-level administrative units
Bao Dien Tu | Local Language | News
Hà Nội: Lấy ý kiến người dân về phương án sắp xếp, tên gọi xã phường sau sáp nhập
Hanoi: Consulting people on the plan to arrange and name communes and wards after the merger
VTV News | Local Language | News
Bộ Chính trị quy định cơ cấu đảng bộ các tỉnh, thành sau sáp nhập
The Politburo regulates the party structure of provinces and cities after the merger.
Dantri | Local Language | News
Hanoi to merge wards across 8 urban districts under restructuring plan
Vietnam Net - E | English | News
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Taiwan Implements Indefinite Market Stabilization Measures Amid US Tariff Volatility
Taiwan’s Financial Supervisory Commission has taken decisive steps to maintain market stability amid US tariff-driven volatility.
Uncertainty surrounding US tariff negotiations has sparked volatility in global capital markets.
In response, Taiwan’s FSC has indefinitely extended three stabilization measures originally set to expire on April 18 to protect investor rights and sustain market stability amid fluctuations tied to US reciprocal tariffs.
First, the FSC cut the daily intraday limit for short selling borrowed securities from 30 percent to 3 percent of the average trading volume over the past 30 sessions.
Second, it raised the minimum margin ratio for short selling on both the Taiwan Stock Exchange and the Taipei Exchange from 90 percent to 130 percent. Third, it broadened the range of assets eligible as collateral to cover margin deficits.
These measures, which once operated within fixed start and end dates, now run indefinitely.
Deputy Director Gao Jingping of the FSC’s Securities and Futures Bureau attributed the open-ended timeframe to persistent uncertainty over President Trump’s policy decisions. The commission has pledged to announce any adjustments as market conditions evolve.
Last week, Taiwan’s stock market dipped 0.68 percent, a much milder drop than the 8.31 percent slide recorded the week before.
Its price‑to‑earnings ratio stood at 17.28, and the cash dividend yield reached 3.06 percent. Listed companies reported cumulative revenues of NT$11.22 trillion for the first quarter of 2025, a 17.32 percent year‑on‑year increase that reflects robust operational performance.
Investor confidence shows in a surge of treasury stock repurchase programs: by April 18, 125 firms had launched share buyback plans to support share prices and market liquidity.
Since April 9, the National Financial Stabilization Fund has also intervened when needed to counteract external disruptions.
The FSC will continue monitoring international financial developments and domestic market conditions in real time, and it stands ready to adjust these stabilization measures to protect investors and uphold market stability as circumstances dictate.
References for this Development
美國關稅談判仍有高度不確定性 金管會：持續延長3穩定股市措施
TTV News | Local Language | News
金管會宣布「每日盤中借券賣出委託數量、最低融券保證金成數及放寬擔保品範圍」三項穩定措施繼續實施
FSC | Local Language | Government
《台北股市》穩定台股 金管會：限空令3措施延長實施
Yahoo Finance | Local Language | News
國際股市高度不確定 金管會延長「限空令」
Liberty Times Net | Local Language | News
美關稅談判仍有不確定性 金管會：持續延長3項穩定股市措施
Central News Agency | Local Language | News
金管會宣布股市限空3措施繼續 無截止日
The Storm Media | Local Language | News
Measures to curb stock market short selling to continue: FSC
Focus Taiwan | English | News
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Record-Breaking Global Expansion of Korean Cosmetics Reshapes Export Markets
In 2024, the Korean cosmetics industry set a record with $10.2 billion in exports—a 20.6% increase over the previous year—elevating K-beauty alongside semiconductors and automobiles as a leading export sector.
Though it historically focused on Asian markets, the industry’s growth now draws from strong performances in the United States, Japan, and Europe.
After a pronounced export uptick that began in 2012, the sector weathered a downturn during the COVID‑19 pandemic before rebounding as global demand diversified away from China. Southeast Asia, Japan, the Middle East, and notably the US emerged as significant destinations following the pandemic slump.
Within this expanding global footprint, Amorepacific, which has led K‑beauty’s international expansion for over 80 years, pioneered the cushion foundation in 2008 and recorded its first export to Ethiopia in 1964.
Last year, the company reached KRW 1.68 trillion in overseas sales and plans to increase its North American market share from 3.7% to 10% by 2027, leveraging its manufacturing capacity and product development pipeline.
In specific markets such as Japan, K‑beauty has moved from niche status to mainstream acceptance.
A Hera popup store at Tokyo’s Mitsukoshi department store drew considerable consumer interest in products such as the Black Cushion, demonstrating strong uptake in a traditionally conservative luxury market. Korean brands now sit alongside established Japanese and global names, and many Japanese consumers choose based on brand reputation rather than country of origin.
The global rise of K‑pop and K‑culture through over‑the‑top streaming platforms has further boosted the appeal of Korean cosmetics among younger demographics.
Laneige and other brands credit K‑culture’s integration into daily lifestyles with strengthening consumer loyalty and driving adoption, particularly in markets like Japan.
Product innovation remains central to K‑beauty’s competitiveness.
Amorepacific’s Air Cushion created a new foundation category and prompted similar offerings from international rivals. Korean brands differentiate themselves through novel ingredients, unique formulations and distinctive packaging formats. A robust domestic manufacturing infrastructure supports cost competitiveness and enables rapid brand launches and product iterations.
To support this expansion, digital marketing channels have become critical to K‑beauty’s growth strategy.
Hashtag searches on platforms such as TikTok and Instagram show substantial increases in interest in Korean cosmetics. Brands leverage influencer partnerships to drive online engagement and sales, although industry observers emphasize the need to bolster offline retail presence to sustain market penetration.
References for this Development
샤넬·디올 제치고 '넘버1' 꿰찬 K뷰티…도쿄 시부야 홀렸다[비크닉]
K-Beauty Beats Chanel and Dior to Become ‘Number 1’… Tokyo Shibuya is Captivated [Biknick]
Joongang Ilbo | Local Language | News
K-뷰티는 카테고리 킬러?...‘넥스트-쿠션’ 나오려면 [비크닉]
K-Beauty is a Category Killer?...'Next Cushion' to Come Out [Biknick]
Joongang Ilbo | Local Language | News
61년 전 에티오피아로 첫 수출… K-뷰티 헤리티지를 만든 이 회사 [비크닉]
First export to Ethiopia 61 years ago… The company that created K-beauty heritage [Biknik]
Joongang Ilbo | Local Language | News
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