India’s Insolvency and Bankruptcy Code (IBC) framework in 2025 was marked by mounting stress on timelines and capacity, with resolution processes stretching far beyond the statutory limits, despite efforts by the National Company Law Tribunal (NCLT) to cope with its limited capacity, The Week reported.

Creditors have realised Rs 4 lakh crore under the resolution plans initiated under the Insolvency and Bankruptcy Code through September 30, 2025, according to a Reserve Bank report on Wednesday, the Economic Times of India reported. Since the provisions relating to the corporate insolvency resolution process came into force in December 2016, a total of 8,659 CIRPs have been initiated until September 30, 2025, of which 6,761, or 78.1 percent, have been closed. The primary objective of the Insolvency and Bankruptcy Code is rescuing corporate debtors (CDs) in distress.

Two large outstanding accounts, cited as the reason for the liquidation of a long-running South Canterbury electrical, refrigeration and heat pump company last year, are yet to be paid, ThePress.co.nz reported. Siebers International provided services across South Canterbury for more than 40 years, before it was put into liquidation by shareholder resolution in November 2024, with owner Peter Siebers saying he hoped liquidators would “pick up the fight” over “two very large contractual disputes”.

Free schemes and subsidies, often known as 'freebies,' have been known to be a recipe for winning elections in state elections, but now this has become a major problem for the declining state economies, Bhaskar English reported. According to reports, states are not able to provide money for electricity, roads and housing. After providing funds for subsidies, salaries, pensions and interest payments, states are often left with only 20-25% of their total earnings. The debt of states like Madhya Pradesh, Rajasthan, Punjab and Bihar is about one-third or more compared to their GDP.

China will impose an added 55% tariff on beef imports that exceed quota levels from key suppliers including Brazil, Australia and the U.S. in a move to protect its domestic cattle industry, Reuters reported. China's commerce ministry said on Wednesday the total import quota ​for 2026 for countries covered under its new "safeguard measures" is 2.7 million metric tons, roughly in line with the record 2.87 million tons it imported overall in 2024. The new ‌annual quota levels are lower than import levels for the first 11 months of 2025 for top supplier Brazil, and Australia.

Mexico's sweeping new tariffs on imports from mostly Asian countries are ​set to take effect on Thursday, in a ‌move that will largely align Mexico with the U.S. as the neighboring countries ‌place significant barriers on Chinese imports, Reuters reported. Approved by Congress in early December, the measure raises tariffs - most up to 35% - on countries without free trade agreements with Mexico, including China, India, South ⁠Korea, Thailand and Indonesia. ‌China is expected to bear the greatest impact.

By some measures, China’s economy is looking resilient, with strong exports and breakthroughs in artificial intelligence and other advanced technologies. But that’s not how it feels for many ordinary Chinese, who have been enduring the strain from weak property prices and uncertainty over their jobs and incomes, according to an Associated Press commentary. While some industries are thriving thanks to government support for technologies such as AI and electric vehicles, owners of small businesses report tough times as their customers cut back on spending.

China called for a new model for its engagement with the US, seeking to cement a recent thaw with the Trump administration while reinforcing its red line on Taiwan, Bloomberg News reported. “We will promote the healthy, stable, and sustainable development of China-US relations,” Chinese Foreign Minister Wang Yi said in a speech at a symposium about foreign relations on Tuesday. He added that China will remain engaged with the US on the basis of mutual respect but will not “yield an inch” on core interests.

Several Chinese companies that raised about HK$6.99 billion ($900 million) combined in IPOs rallied strongly on their Hong Kong debuts on Tuesday, rounding off a resurgent year for listings as the city dominated Asian equity capital markets, Reuters reported. The strong starts signal renewed investor confidence and optimism around tech-driven growth, underpinned by regulatory changes and robust liquidity. Market participants said the momentum could set the tone for 2026 as Hong Kong reasserts itself as a key listing venue.