As of the end of March, a number of real estate companies in China have announced that they will postpone the release of their 2021 annual results and therefore cease trading in their shares as of April 1. Experts believe that the downward trend of China’s real estate market will exacerbate financial pressure on the…
Economists Cut Forecasts for China’s 2022 GDP Growth Amid Extended COVID Lockdowns
China’s continued insistence on a zero-COVID policy has created severe hardships for residents and the draconian measures in use could negatively impact its GDP growth. Economists worldwide recently lowered their forecasts for China’s expected GDP growth in 2022. On April 1, economists at Morgan Stanley slashed their full-year forecast of China’s 2022 economic growth to 4.6…
China’s Services Sector Activity Hit Hard by Zero-COVID Policy: Caixin PMI
BEIJING—Activity in China’s services sector contracted at the sharpest pace in two years in March as a surge in coronavirus cases restricted mobility and weighed on demand, a private sector survey showed on Wednesday. The Caixin services Purchasing Managers’ Index (PMI) dived to 42.0 in March from 50.2 in February, dropping below the 50-point mark…
US Would Sanction China If It Invades Taiwan: Yellen
U.S. Treasury Secretary Janet Yellen said on April 6 that the United States would levy sanctions on China should the communist regime invade Taiwan or provide material support to Russia’s war effort in Ukraine. When asked by Rep. Patrick McHenry (R-N.C.) during a hearing of the House Financial Services Committee about whether Washington is open…
Shanghai Orders Another Round of Citywide COVID-19 Tests as Public Criticism Mounts
Shanghai authorities chose to continue their draconian “zero-COVID” strategy on April 6 after ordering another round of citywide tests to control an outbreak that a local official described as “extremely grim.” Gu Honghui, Shanghai’s deputy secretary-general, made the grim assessment during a briefing on Wednesday. He said the new COVID tests would target mainly locals…
Emerging Markets Suffer $9.8 Billion Outflow in March With Big Hit to China
Emerging markets suffered their first portfolio outflows in a year in March, driven by investors ditching Chinese assets and growing anxiety over recent geopolitical events, a report by the Institute of International Finance (IIF) showed on Tuesday. Foreign net portfolio outflows for emerging markets came to $9.8 billion in March, IIF data showed, following a…
China Attempts to Work Out Capitalist Problems With an Authoritarian State Control: Brian McCarthy
I’m joined by Brian McCarthy, founder and chief strategist for Macrolens. McCarthy is a regular traveler to China, and his interactions on the mainland shaped his views of the financial risks in the Chinese market. Macrolens is a provider of independent macroeconomic research dedicated to helping investors better understand the Chinese macroeconomy. Brian has testified…
Hunter Biden’s Dealings With CCP-Linked Chinese Firm Is Illegal Under Foreign Agents Registration Act: Rep. Johnson
Hunter Biden’s dealings with Chinese energy firm CEFC are in violation of the U.S. Foreign Agents Registration Act (FARA), said Rep. Mike Johnson on April 5. Johnson, at a House Judiciary subcommittee hearing, lamented that the FBI has shown markedly little interest in enforcing the act now that Democrats hold the White House, after having launched aggressive FARA…
Russia Turns to China for Microchips for In-demand Domestic Bank Cards
Russia is turning to microchip manufactures in China to circumvent western sanctions which have boosted demand for bank cards linked to the Mir payment system, an executive with the domestic payment system said. Western sanctions imposed on Russia over its invasion of Ukraine have cut Moscow off the global financial system and from nearly half…
America’s $500 Million Aid to Nepal Must Support Democracy
News Analysis On March 26, Chinese Foreign Minister Wang Yi announced a new study to link Nepal’s electricity grid to China. This, despite Nepal’s closer economic proximity to India and the Himalayan mountains separating Nepal’s economic areas from China. China’s study is a thin mimicry of $500 million in U.S. funding through the Millenium Challenge Corporation…
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