Tag: China Business & Economy

‘Graduates Can Pay to Get Work’: Suggestion to Tackle China’s High Unemployment Rate Triggers Outrage

June 9, 2022
Asia & PacificChinaChina Business & Economychina unemploymentcollege graduatesinternshipSocial IssuesWorldYouth unemployment
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A well-known IT professional in China recently suggested on social media that job applicants could pay employers to get work, and address the nation’s youth unemployment issue. The suggestion attracted significant attention and criticism, as similar practices already exist in China’s IT industry— where graduates pay companies off the books to intern. The IT professional,…

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China’s Consumers Keep Their Wallets in Lockdown as COVID-19 Curbs Ease

June 8, 2022
Business & MarketsChinaChina Business & Economyconsumptioneconomy
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BEIJING—China’s economy has a lot riding on its consumers, who are just now emerging from lockdowns in Shanghai and other big cities. But those hopes are running up against the likes of Wu Lei, a soccer coach in Beijing who has put off buying a new mobile phone. “I’ve lost the lion’s share of my…

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Fearing Looming Bubble, State Treasurers Square Up Against ESG’s ‘Invisible Fist’

June 8, 2022
bubbleBusiness & MarketsChinaChina Business & EconomyChina Human RightscommoditiescongressDemocratseconomic policieseconomyEnvironmentESGFinance & Business Tiesfossil fuelInfiltrating the WestinflationMarketsPoliticsRepublicansRiley MooreScienceSpecial TopicsTech CompetitionThreat from Communist ChinaUSUS FeaturesUS NewsUS-China relations
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State treasurers spoke out against the imposition of environmental, social and governance (ESG) scoring on public money in a June 8 press conference, with one official comparing it to the social justice-driven push for universal homeownership that helped trigger the Great Recession. “I would be very concerned about investing in green energy right now,” said…

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Debt-Ridden Sri Lanka Asks China to Revise $1.5 Billion Swap Deal

June 8, 2022
Asia & PacificChinaChina Business & EconomyChinese RegimeInternational RelationsRanil WickremesingheSri LankaWorld
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Sri Lanka has requested that China amend the terms of a $1.5 billion yuan-denominated swap facility so that it can be used to fund essential imports, Prime Minister Ranil Wickremesinghe said on Tuesday. The swap deal, signed by the Central Bank of Sri Lanka in March 2021, stipulates that the fund can only be used…

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Hong Kong’s Status as an Airport Tanks as Passenger Traffic Drops to 2 Percent of Pre-epidemic Levels

June 7, 2022
ChinaChina Business & EconomyHK BusinessHong Konghong kong airportIATANatixis
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Many countries have eased their travel restrictions now that the global epidemic has slowed down. But this is not the case in Hong Kong under the Chinese Communist Party’s (CCP) zero-COVID policy. A recent report released by Natixis, the French investment bank, said Hong Kong’s strict entry restrictions, continued outflow of residents, and other negative…

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UK Defence Chiefs Resume Purchases of Chinese-Made Drones

June 7, 2022
ChinaChina Business & EconomyChineseDronesEurope-China RelationsInternational RelationsUKWorld
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Chinese drones blacklisted by the United States are being purchased by the UK’s Ministry of Defence (MoD). Contract details show the MoD placed a £132,337 ($165,936) order in March for drones and accessories from DJI, the world’s largest consumer drone company based in Shenzhen, southern China. The recent order is believed to be the first…

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‘No Prize for Second Place’: New Film Sounds Alarm on China’s Quest to Win ‘Innovation Race’ Against US

June 7, 2022
Big TechCCPChinaChina Business & EconomyChinese RegimeinnovationNational SecuritySpecial TopicsTech CompetitiontechnologyThreat from Communist ChinaUSUS-China relations
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The Chinese Communist Party (CCP) is exploiting weaknesses in the United States’ patent protection laws to gain the upper hand in technological innovation, according to an upcoming film, and big tech companies are helping it in the effort. “In the innovation race with China, there is no prize for second place,” said Luke Livingston, director…

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China’s Economic Headwinds Chill Its Wary New Homebuyers

June 7, 2022
Business & MarketsChinaChina Business & EconomyCompaniesEconomic Headwindshomebuyers
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HONG KONG/BEIJING—After two years of hunting, Volar Yip has put his dream of buying a new home in China’s southeastern city of Foshan on ice, anxious about making a major financial commitment amid a significant economic slowdown in the country. The 32-year-old owns a media studio and many of his clients are now cutting advertising…

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China May Services Activity Contracts for Third Straight Month

June 6, 2022
Business & MarketsChinaChina Business & Economyeconomy
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BEIJING—China’s services activity contracted for a third straight month in May, pointing to a slow recovery ahead despite the easing of some COVID-19 lockdowns in Shanghai and neighboring cities, a private business survey showed on June 6. The Caixin services purchasing managers’ index (PMI) rose to 41.4 in May from 36.2 in April, edging up…

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USTR Tai Says Fighting Inflation More Complicated Than Cutting China Tariffs

June 6, 2022
Business & MarketsChinaChina Business & Economyeconomic policieseconomyinflationkatherine taiSpecial TopicstariffstradeUSUS NewsUS-China relations
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WASHINGTON—U.S. Trade Representative Katherine Tai on Monday said fighting inflation is a more complicated issue than can be addressed with a “singular focus” on China tariffs, and that it was important to bring a “thoughtful, deliberate, strategic” approach to the U.S.–China trade relationship. Tai, in remarks to the Washington International Trade Association, said inflation was…

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