The Chinese economy is still struggling with ongoing lockdowns, uneven export growth, and U.S. rate hikes. Experts believe recession or stagflation may be imminent. Forecasts of 1 percent GDP growth fell short in the second quarter as the GDP only reached 0.4 percent. Retail sales were down 11 percent in April, leaving them 0.7 percent…
Feed Shortage Leads to Pig Cannibalism, China’s Economy Worsens
July 30, 2022
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Asia & PacificCCP VirusChinaChina Business & EconomyChinese RegimeINSIDE CHINAJiangxiSocial IssuesWorldzero-covid policyZhengbang
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A video showing pigs eating a deceased pig on a farm in China went viral recently. Some of the pig farmers, working for a major Chinese financial group, said that the cannibalism occurred because of feed shortages. One expert believes that feed shortages are a reflection of bigger problems in China’s economy. Since July 24,…
Should US Be Worried About a New Reserve Currency?
July 29, 2022
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Business & MarketsBusiness ColumnistsChinaChina Business & EconomyOpinionreserve currencyRussiaThinking About China
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Commentary It’s long been reported by The Epoch Times that China—and more recently due to the ongoing war, Russia—has been keen to see the U.S. dollar knocked from its perch as the biggest global reserve currency. Russia and China have now begun working on that, which isn’t a surprise. But what is a surprise is…
China Collects $44 Billion to Save Real Estate Developers, 500,000 Presale House Buyers Stop Mortgage Payments
July 29, 2022
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ChinaChina Business & EconomyChina real estate marketChinese Regimereportersrotten tail buildingsSocial Issues
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China plans to collect up to 300 billion yuan (about $44.4 billion) to support real estate developers struggling to finish their projects, while over half a million buyers stopped mortgage payments on their unfinished homes in July. The fund is collected by China’s State Council, financial information platform REDD reported on July 26. The China Construction…
China Orders Manufacturers Into ‘Closed-Loop’ Production, More Partial Lockdowns in Megacities as COVID-19 Continues to Spread
July 29, 2022
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Asia & PacificCCP VirusChinaChina Business & EconomyChina Human RightsChinese RegimeFoxconnglobal supply chainINSIDE CHINAsocial controlSpecial TopicsWorldWuhan
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Shenzhen authorities ordered manufacturers in the economic hub, including Apple suppliers, into a 7-day “closed-loop” production mode, as COVID-19 continues to spread in the city despite following the regime’s strict zero-COVID policy. The move has caused concerns about the possibility of longer mass lockdowns of factories like there were in Shanghai earlier this year. Meanwhile,…
House Passes $280 Billion CHIPS Act Without China Provision, Sending Bill to Biden’s Desk
July 28, 2022
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ChinaChina Business & EconomychipscongressDemocratshouseNational SecurityPolicies & ImpactsPoliticsRepublicanssemiconductorstechnologyUSUS-China relationsWorld
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The U.S. House of Representatives passed the CHIPS and Science Act on July 28, allocating funding for a bill now nearly two years old. The new legislation, which is now headed to President Joe Biden’s desk for signing, will allocate $250 billion in subsidies, tax breaks, and research grants to prop up the domestic semiconductor…
House Passes $280 Billion CHIPS Act Without China Provision, Sending Legislation to Biden’s Desk
July 28, 2022
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ChinaChina Business & EconomychipscongressDemocratshouseNational SecurityPolicies & ImpactsPoliticsRepublicanssemiconductorstechnologyUSUS-China relationsWorld
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The U.S. House of Representatives passed the CHIPS and Science Act on July 28, allocating funding for a measure now nearly two years old. The new legislation, which is now headed to President Joe Biden’s desk for signing, will allocate $250 billion in subsidies, tax breaks, and research grants to prop up the domestic semiconductor…
House Passes $280 Billion CHIPS Act Without China Provision, Sends Legislation to Biden’s Desk
July 28, 2022
admin
ChinaChina Business & EconomychipscongressDemocratshouseNational SecurityPolicies & ImpactsPoliticsRepublicanssemiconductorstechnologyUSUS-China relationsWorld
0 Comment
The U.S. House of Representatives passed the CHIPS and Science Act on July 28, allocating funding for a measure that’s now nearly two years old. The new legislation, which now heads to President Joe Biden’s desk for signing, will allocate $250 billion in subsidies, tax breaks, and research grants to prop up the domestic semiconductor…
Former Head of China’s ‘Big Fund’ Management Company Is Under Investigation
July 28, 2022
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big fundChinaChina Business & EconomyChina's semiconductor industrychip industrySocial Issuestechnology
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The former head of the management company of China’s National Integrated Circuit Industry Investment Fund was placed under investigation after a string of Chinese chipmakers went broke. According to a July 15 announcement by the Chinese Communist Party (CCP)’s Central Commission for Discipline Inspection, Lu Jun, the former deputy director of the Fund Management Department…
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…
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