Fiscal mismanagement, exacerbated by the growing authoritarian tendencies of the Chinese Communist Party (CCP), is quickly undoing economic and social progress and setting the stage for soaring poverty and social unrest throughout China, said experts at a Hudson Institute virtual event on Jan. 11. The virtual event, “Is China Headed for an Economic Crisis?”, featured…
CCP Mismanagement, Authoritarianism Pushing China Down Road to Economic Ruin: Experts
China Evergrande Moves From Shenzhen HQ Building to Cut Costs
January 11, 2022
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SHENZHEN, China—Heavily indebted property firm China Evergrande Group said on Monday that it has moved out of its headquarters in Shenzhen to another property in the city to cut costs and was still registered in the southern Chinese city. The company issued its statement after the Chinese media outlet The Paper reported that Evergrande had…
US Companies Continue to Cave in to Pressure From Beijing Over Human Rights
January 11, 2022
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News Analysis The lure of money that can be earned in the Chinese market has driven major U.S. companies to give in to Beijing’s demands at the expense of data security, integrity, and human rights. Recently, Walmart was censured by Beijing’s top disciplinary agency after its warehouse retailer Sam’s Club removed Xinjiang-sourced products from its…
Shimao’s Default Deepens Concerns Over Cash Crunch in Chinese Real Estate Industry
January 11, 2022
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The Shanghai Stock Exchange briefly suspended trading of one of Chinese property developer Shimao’s bonds on Monday, following Friday’s suspension of trading in the firm’s five other bonds due to severe declines. The trading halt came as Shimao’s unit in Shanghai defaulted on a loan after missing a payment of over $100 million last week,…
China’s Evergrande Ordered to Demolish 39 Buildings on World’s Largest Artificial Island
Before resuming trading on Jan. 4, China’s troubled real estate giant Evergrande Group issued a notice disclosing a letter of decision it received from Danzhou City, Hainan Province, five days earlier. The letter ordered the demolition of 39 high-rise buildings on Ocean Flower Island, the company’s star project, to rectify damages to the marine environment…
Beijing’s Tight Control Over China’s Economy Creates Uncertainty for Foreign Investors
January 10, 2022
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News Analysis In light of Xi Jinping tightening his control over China’s economy, investing in Chinese stocks is risky. One never knows where or how Beijing will involve itself in the economy, but government intervention is inevitable and unopposable. Investment guru Jim Cramer said that the Chinese Communist Party (CCP) is a “wild card.” He…
China Locks Down World’s Third-Busiest Port City, Potential Disruption to Global Supply Chain
China’s industrial city of Ningbo and home to the third-largest container port in the world, has been under lockdown due to a recent COVID-19 outbreak. Analysts suggest that the lockdown measures could cause more disruption to the global supply chain. According to Chinese state-run media Global Times, Ningbo City in Zhejiang Province is under lockdown…
China Locks Down World’s Third-Busiest Port City, Potentially Disrupting Global Supply Chain
China’s industrial city of Ningbo and home to the third-largest container port in the world has been under lockdown due to a recent COVID-19 outbreak. Analysts suggest that the lockdown measures could cause more disruption to the global supply chain. According to Chinese state-run media Global Times, Ningbo City in Zhejiang Province is under lockdown…
Australian Defence Minister Calls on Celebrities, #MeToo to Speak up for Chinese Tennis Star
January 9, 2022
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Australian Defence Minister Peter Dutton has called on celebrities and advocates of the #MeToo movement to speak up for Chinese tennis star Peng Shuai, who accused Beijing’s ex-vice premier of sexual assault in November. “I don’t understand how, in the year 2021, in the #MeToo age, we can have an international female tennis star who…
South Korean Food Companies Join Forces to Sue Chinese Copycats
January 9, 2022
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China is infamous for its rampant “copycat” culture. Counterfeit and knockoff products continue to dominate China’s domestic markets despite the ongoing CCP (Chinese Communist Party) virus pandemic. Being fed up with losses, several South Korean food producers have recently joined forces to address the growing distribution of counterfeit products in China. According to Korea Bizwire,…
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