Europe Solidaire Sans Frontières
Many articles on today’s China economy are still in the section “history: in the transition to capitalism”. They will progressively be put in this one.
In this article Tommy Wei argues that despite China’s rapid economic development, systemic poverty, driven by low wages, high living costs, and inadequate social safety nets, continues to hinder the nation’s economic progress and quality of life for its citizens.
About ten years ago, when (…)
In its recent press release, the IMF slightly upgraded its gloomy forecast for China’s growth next year from 4.2% to 4.6%, but warned about the continuing “weakness in the property sector.” According to Bloomberg, between 2013 and 2022, the price of new homes sold in 300 Mainland Chinese cities (…)
After decades of expansion, rs21 member Charlie Hore explores how a changing demographic, environmental issues and inherent instability pose serious threats to the growth of the Chinese economy.
The Wall Street Journal has called it – ‘China’s 40-Year Boom Is Over. What Comes Next?’ There’s no (…)
Nobel Prize-winning economist Paul Krugman does not mince his words:
the signs are now unmistakable: China is in big trouble. We’re not talking about some minor setback along the way, but something more fundamental. The country’s whole way of doing business, the economic system that has driven (…)
In the early 2010s, the economist Justin Lin Yifu, a former World Bank chief official with ties to the Chinese government, predicted that China’s economy would have at least two more decades of growth above 8%. He reckoned that since the country’s per capita income at that time was about the (…)
• Waning confidence in China’s economic growth has been spreading, with its recovery appearing to have fizzled out after registering 4.5 per cent growth in the first quarter
• Global investment banks have revised down their second quarter sequential growth forecasts, down from over 4 per cent (…)
IN MID-APRIL 2022, four rural banks in Henan Province refused to allow depositors to withdraw their money. This situation was related to how China’s real estate bubble burst, with ominous economic effects rippling throughout people’s lives.
Four hundred thousand depositors have been affected, (…)
Only state intervention can save the day, but the pain is likely to fall on ordinary citizens, say observers.
Alittle more than a year ago, a Chinese property developer largely unknown to the outside world said its cashflow was under “tremendous pressure” and it might not be able to pay back (…)
• The city’s current controls are affecting the logistical chain on land, with drivers from neighbouring provinces reluctant to enter over quarantine fears
• The world’s largest container port has been operating round the clock with workers kept inside a ‘closed loop’ bubble
Shanghai’s (…)
• China could see as much as 10 percentage points shaved off economic growth on a quarterly basis if zero-Covid is maintained, Everbright Securities says
• The world’s No 2 economy is facing its worst virus outbreak in two years and has imposed widespread lockdowns, including in the commercial (…)
• China’s yuan under pressure amid ‘unprecedented’ capital outflows following Russian invasion of Ukraine
• Investors have pulled money out of China on a huge scale even as flows to other emerging markets held up, the Institute of International Finance says
[Photo: Analysts expect fund (…)
• China is the largest trading partner of both Russia and Ukraine, but sanctions are being felt by customers in both countries, and has even spread to other regions
• Commerce Minister Wang Wentao said on Tuesday that China was hoping to ‘promote our normal trade’ with both Russia and Ukraine (…)
China trade unions have in the past mostly been formed by blue-collar workers in traditional manufacturing and construction industries. Those working in newer types of low-paid work, such as “gig economy” workers, have mostly been overlooked by trade unions. A new amendment to China’s Trade (…)
The draining 996 work schedule—named for the expectation that employees work 9 a.m. to 9 p.m., six days a week—has persisted in Chinese companies for years despite ongoing public outcry. Even Alibaba co-founder Jack Ma once called it a “huge blessing.”
In early October this year, it seemed (…)
China has long seen high-speed economic growth tied to property investment. That model is now failing.
The ongoing crisis for Chinese property developer Evergrande has made the giant company the focal point of global concern. Creditors, investors, contractors, customers, and employees of (…)
An otherwise unremarkable government official, Wang Lin, has become an unexpected internet celebrity. A video featuring the middle-aged, bespectacled Wang moonlighting as a driver for food delivery giant Meituan has gone viral and reignited discussion on the pay and conditions of workers in the (…)
Since February, various parts of China has resumed work and production when the COVID-19 pandemic was reportedly under control.
However, due to the serious epidemic in Europe and the United States, orders from abroad have been greatly reduced, which takes another dent into the Chinese economy. (…)
The coronavirus outbreak has led to a steep decline in demand in China’s job market, with employment ads tumbling by 27 per cent in the first quarter. New study shows that export-oriented firms and companies with foreign investment particularly aggressive in cutting new hires.
The coronavirus (…)
Developing countries’ ‘hidden debts’ to China totalled US$380 billion well before the global health and economic crisis, analysts estimate. Montenegro, which has a US$750 million Chinese loan for highway construction, is among the borrowers seeing commodity prices plunge and exchange rates (…)
The Chinese Communist Party has vowed to deepen market-oriented reform in key sectors of the economy, from land management to labour. Policy comes as China faces increasing headwinds, including the possible realignment of global value chains after the coronavirus pandemic.
China has vowed to (…)
Twitter
Facebook