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Bloomberg (September 26)

2022/ 09/ 26 by jd in Global News

“Asian markets risk a reprise of crisis-level stress as two of the region’s most important currencies crumble under the onslaught of relentless dollar strength. The yuan and yen are both tumbling due to the growing disparity between an uber-hawkish Federal Reserve and dovish policy makers in China and Japan.”

 

BBC (September 12)

2022/ 09/ 14 by jd in Global News

China “is the world’s last major economy attempting to entirely stamp out Covid outbreaks, claiming this is necessary to prevent wider surges of the virus which could overwhelm hospitals.” At present, “tens of millions of people in at least 30 regions have been ordered to stay at home under partial or full lockdowns,” with some of the impacted residents “complaining of shortages of food and essential items.”

 

Bloomberg (September 1)

2022/ 09/ 02 by jd in Global News

“Oil continued its retreat Thursday as the commodity faces increasing challenges from central bank policy to new Covid lockdowns in China.

 

The Guardian (August 29)

2022/ 08/ 30 by jd in Global News

“China has reached a point of no return in its battle to contain what could be the biggest property crash the world has ever seen, experts believe, creating a perilous moment for the country’s Communist leadership and the global economy.”

 

Financial Times (August 22)

2022/ 08/ 22 by jd in Global News

“China has slashed its mortgage lending rate for the second time this year as the country’s central bank seeks to limit the fallout from a liquidity crisis in the property sector.” While this may “reduce borrowing costs on new mortgages nationwide and provide a boost to the country’s debt-laden real estate sector,” it is unlikely to fix the “crisis of confidence faced by Chinese developers.”

 

New York Times (August 18)

2022/ 08/ 19 by jd in Global News

“For decades, buying property was considered a safe investment in China. Now, instead of building a foundation of wealth for the country’s middle class, real estate has become a source of discontent and anger.”

 

Washington Post (August 17)

2022/ 08/ 17 by jd in Global News

“By next year, India will become the most populous nation. This, like House Speaker Nancy Pelosi’s splendidly insouciant visit to Taiwan, will diminish today’s fatalism about China — the fallacious assumption that its trajectory is inevitably upward, so it must be accommodated.” Chinese labor is now “increasingly expensive and decreasingly abundant,” as its population peaks and declines by roughly half.

 

Sydney Morning Herald (August 10)

2022/ 08/ 12 by jd in Global News

“There are 68 trusts in China with about $4.3 trillion of assets – property loans, shares, bonds and commodities – under management, with property accounting for at least $500 billion of the total.” The National Audit Office has been instructed “to inspect the books of the country’s biggest trust firms.” This shows “the increasing concern of the Chinese authorities that the implosion of their property development sector could ignite a wider financial crisis.”

 

Wall Street Journal (August 5)

2022/ 08/ 07 by jd in Global News

“China’s firing of missiles near Japan has left little doubt that Tokyo would be pulled into any potential war over Taiwan—and would be part of the U.S.-led alliance likely to defend the island.”

 

WARC (August 1)

2022/ 08/ 02 by jd in Global News

“Whether it’s $18 for a two-ounce ginseng drink or $75,000 for a luxury mattress, the story is the same: Chinese consumers are becoming more frugal and the days of carefree spending have gone.” For over a decade, upmarket western brands have relied on China’s “expanding middle class” to drive growth, “but now, with a slowing economy, growing unemployment and a disruptive zero-COVID policy, those same middle classes are as likely to be saving as spending.”

 

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