Biden-Kishida summit, India motor show, China inflation data

Welcome to Your Week in Asia.

Japanese Prime Minister Fumio Kishida, this year’s chair for the Group of Seven (G-7) advanced economies, will depart for a weeklong trip to France, Italy, the U.K., Canada and the U.S. to meet his counterparts ahead of their Hiroshima summit meeting scheduled in May.

Meanwhile, India’s largest motor show, Auto Expo, will begin on Friday. Domestic carmakers and those from overseas will participate in the event, hoping to tap the fast-growing South Asian market which last year topped Japan to become the world’s third-largest auto market, according to our latest report.

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MONDAY

Anwar’s first overseas trip as Malaysian prime minister

Malaysia’s Anwar Ibrahim is visiting Indonesia from Sunday to Monday in his first overseas trip as prime minister. He is due to meet President Joko Widodo during the trip, when they are expected to discuss bilateral issues relating to trade, economic cooperation and the protection of migrant workers. The ongoing crisis in Myanmar is also expected to come up during the meeting.

TUESDAY

Tokyo consumer inflation data

The Japanese government will release preliminary consumer inflation data for December for the Tokyo metropolitan area, a leading indicator of nationwide inflation. November’s nationwide core consumer price index – all items less fresh food – rose 3.7% from a year earlier, the sharpest rise in nearly 41 years.

Indonesia’s largest ruling party holds 50th year anniversary ceremony

The Indonesian Democratic Party of Struggle (PDI-P), the country’s largest political party of which President Joko Widodo is a member, is slated to kick off its 50th anniversary commemorations – during which the party could announce its presidential candidate for the 2024 election.

Japan-U.S. 2+2

Foreign ministers and defense ministers for Japan and the U.S. will hold a 2+2 meeting in Washington on Tuesday, U.S. time. The two parties plan to discuss cooperation toward realizing a “free and open Indo-Pacific” and the direction of security and defense collaboration in the region.

WEDNESDAY

Asian Financial Forum in Hong Kong

The two-day, hybrid, government-led Asian Financial Forum starting Wednesday marks Hong Kong’s first major corporate event after the city lifts most COVID restrictions. High-profile attendants include Ban Ki-moon, former secretary general of the United Nations; Helen Clark, former prime minister of New Zealand; Amundi’s CEO Valerie Baudson, and HSBC group chair Mark Tucker.

THURSDAY

China inflation data

China will release December’s consumer price index and producer price index, providing a gauge of demand following the country’s easing of its zero-COVID policy.

Indo-Pacific Business Forum

The U.S. and Japanese governments will host the 5th public-private event to promote trade, investment and economic cooperation with their partners in the Indo-Pacific region. Speakers will discuss various topics ranging from updates on the Indo-Pacific Economic Framework (IPEF) to supporting climate efforts in small island nations and building resilient semiconductor supply chains in the region.

Earnings: Seven & i Holdings

FRIDAY

India’s largest motor show

Top carmakers including India’s homegrown major Maruti Suzuki, South Korea’s Hyundai and China’s MG Motor are set to launch new models, including electric vehicles, at India’s largest auto exhibition beginning Friday. India is emerging as a crucial market for car manufacturers.

Kishida-Biden meeting

Japanese Prime Minister Fumio Kishida will visit the U.S. during his weeklong overseas trip. He is scheduled to meet President Joe Biden at the White House on Friday, U.S. time, where they will discuss North Korea’s missile launch and the Russia-Ukraine war, among other topics.

WEEKEND

U.S. sends economic delegation to Taipei

The U.S. will send a delegation of trade and economic officials to Taiwan from Jan. 14-17, seeking to expand the economic relationship with Taipei. The delegation will be led by assistant U.S. Trade Representative Terry McCartin and will include representatives from several other U.S. government agencies.