Having been a very populated developing country over the last 30 years, Vietnam has had to recover from the damages of war and the loss of financial support from the old Soviet Bloc. Vietnamese authorities have renounced their commitment to economic liberalization and international integration. They have moved to put into practice the structural reforms needed to modernize the economy and to produce more competitive export-driven industries.

In what was perhaps the most leaked budget in history, the Conservative Chancellor George Osborne released a series of cuts and tax rises which add up to the biggest public spending cuts seen in a generation.

However given the headlines and government statements made since the General Election, most pundits are looking on the emergency budget as ‘not that bad’. The main tax rise 2.5% on VAT was widely anticipated and came as no shock when the Chancellor announced it.

Official figures show that UK inflation accelerated again in April to hit its highest rate in 17 months, with the Consumer Price Index (CPI) measure hitting 3.7% - the highest rate since November 2008 and well above the normal rate of 2%. On the Retail Price Index (RPI) measure (which also includes housing costs), inflation rose to 5.3% - the highest rate in 19 years.

Malaysia’s benchmark stock index has formed a “dead cross” pattern, a bearish indicator that signals further losses for the market.

The FTSE Bursa Malaysia KLCI Index dropped 0.3 percent to 1,304.16 yesterday, sliding for a fifth day, the longest losing streak since a six-day decline through Jan. 29. The 10-day moving average fell below the 40-day moving average for the first time since Feb. 4, creating the dead cross, Khoo Ban Yu, RHB’s technical chartist, said in an interview. A short-term moving average falling below a longer-term one points to a market retreat.