South Korea’s exports have been dragged down by China’s economic slowdown and import slump. The East Asian country has experienced a continuing trade deficit for nearly a year due to being heavily dependent on China for both imports and exports. In the first two months of this year, South Korea’s trade deficit has nearly reached…
South Korea’s Trade Deficit Has Lasted for a Year Due to China Trade Dependence
South Korea’s exports have been dragged down by China’s economic slowdown and import slump. The East Asian country has experienced a continuing trade deficit for nearly a year due to being heavily dependent on China for both imports and exports. In the first two months of this year, South Korea’s trade deficit has nearly reached…
Economic Slowdown to Force More Workers Into Poorly Paid, Low-Quality Jobs
The economic slowdown in 2023 is likely to force workers to accept lower-quality, poorly paid jobs that lack job security and social protection. This was revealed in the International Labour Organization’s (ILO) World Employment and Social Outlook: Trends 2023 report. The report states that the COVID-19 pandemic and the resulting economic crisis have had a…
China’s Banking and Property Sector Problems Affect Hong Kong: Analyst
With the sluggish economy in mainland China’s banking and property system, with bank depositors unable to withdraw their money, and home buyers boycotting mortgage repayments to banks, Hong Kong banks’ loans to the mainland are affected and its banks face increased risks. “The impaired loan ratios for Hong Kong banks’ mainland loans will likely further…
Global Equity Firms See Investor Exodus, a Sign of a Future Economic Slowdown
Several global equity funds are witnessing a surge in outflows for the week ending May 11, as investors are shaken with news of a potential economic slowdown caused by further tightening by the Federal Reserve to fight inflation. Many investors have so far stripped $10.53 billion from global equity funds, after liquidating their shares for a…
China April Factory Activity Contracts at Steeper Pace as Lockdowns Bite
BEIJING—China’s factory activity contracted at a steeper pace in April as widespread COVID-19 lockdowns halted industrial production and disrupted supply chains, raising fears of a sharp economic slowdown in the second quarter that will weigh on global growth. The official manufacturing Purchasing Managers’ Index (PMI) fell to 47.4 in April from 49.5 in March, in…
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