Given the economic slowdown and turmoil in financial market, the Bank of Japan left interest rates unchanged at 0.3 percent. This shows there is a long way for recovery. Global stock reaching a record low in five years causes fears more companies might not survive amid this economic turbulence. But there are hopes for government could do more help to make market recover.

According to a person who is familiar with the situation, Citigroup is considering several ways to save its market, including selling part of the company or merging with another firm. Such woes of a deepening recession made most Asia stocks turn sharply down last Friday. However, with the help by a rise in US stock futures, shares rebounded later. There is also hope for China does more support for the market.

A possible rescue plan of the Big Three US carmakers makes things more uncertain. A business survival plan was required by democratic congressional leaders to executives of General Motors, Ford Motor and Chrysler LLC, with giving loans up to $25 billion as exchange. Lawmakers said the plan could be considered the week of Dec 8.

What is worse, a US government report showed the number of Americans who receive jobless benefits surged to over 4 million. This is the highest in a quarter of a century. Conrad DeQuadros, senior economist at RDQ Economics in New York, said it was not just a deep recession but a long one.

Asia is no better than the US. With the economy dropped in the third quarter bigger than expected, Singapore confirmed it was in recession last Friday, and the economy could shrink further next year.

The South Korean won hit a nearly 11-year low Last Friday, down almost 40 percent this year. It is forecasted by UBS the economy could shrink 3 percent next year and its household spending dropped to a record low in the third quarter, showed by government data.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.

Singapore Prime Minister Lee Hsien Loong, who is in Beijing for the 7th Asia-Europe Meeting (ASEM7), witnessed the signing of the pact. It is the first comprehensive FTA between Beijing and another Asian country that will come into force from Jan 1 on completion of the legislative processes.

Wen said the agreement marks “a leap forward” in bilateral relations prior to the signing ceremony, while Lee said the FTA is “testimony to the strength of our relationship and reflects our intention to broaden our exchanges and ties”. He also said that the ASEM will provide opportunities to exchange wills under the major unstable environment.

The Ministry of Commerce said in a statement that China has agreed to eliminate tariffs on 97.1 percent of goods from Singapore from 2012, while the city will scrap taxes on all goods imported from China next year. The signing of the pact will help both countries stabilize and increase economic and trade growth. It also allows China to open wholly owned hospitals as well as schools and training centres in Singapore. Investors from Singapore can own up to 70 percent of individual hospitals in China.

The Singapore government made a statement that as China is the largest and fastest growing markets in the world, the agreement will foster the access of Singapore companies to Chinese market and promote the bilateral relationship on trade and investment.

BOPVIA also has a lot of clients in Singapore. We believe the agreement will better help the trade between us and our clients from Singapore.

According to figures from the Singapore government, China is the third largest trading partner with Singapore and its largest investment destination; while Singapore is China’s eighth largest trade partner and its seventh largest investor.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.