When Politics Meets Business – The Diplomat

Advertisement When Xi Jinping took center stage in early 2022 for the Beijing Winter Olympics’ opening ceremony, he was sporting a marine blue parka – specifically, one made by Canadian outfitter Arc’teryx. While the brand may be a foreign one at first glance, it was actually acquired by Chinese sporting goods manufacturer ANTA Sports in … Read more

Macao shuts most businesses as Covid cases surge, but casinos stay open

CNN – Macao, the world’s biggest gambling hub, began its second day of mass Covid-19 testing on Monday after dozens of locally transmitted cases were discovered over the weekend. But while most businesses have shut down, casinos remain open. The testing of Macao’s roughly 600,000 residents is expected to end on Tuesday. The Chinese-ruled former … Read more

Czech Senate Leader Vows ‘Never Again’ to Communist Totalitarianism

WASHINGTON – Czech Senate Leader Milos Vystrcil was little known to the world until he led a Czech parliamentary and business delegation to Taiwan in autumn 2020, defying threats of severe retaliation from Beijing. And that is just how his late father would have preferred it. “He would always insist that we live a normal, … Read more

Global markets fall after rough week on Wall Street; yen hits two-decade-low

Hong Kong / London CNN Business – Global markets and US stock futures fell early Monday, indicating a downbeat start to the trading week after a broad sell-off on Wall Street following a surprisingly strong US inflation data. The Dow plunged 880 points, or 2.5%, on Friday. The S&P 500 (SPX) shed 2.7% and the … Read more

China’s economy is looking brighter but it’s not in the clear yet

Hong Kong CNN Business – From big gains in tech stocks to robust trade data, China has had plenty of good news on the economic front this week. The positive developments come after the world’s second largest economy was battered by widespread Covid lockdowns, a sweeping crackdown on tech companies and a real estate slump. … Read more

Shanghai Covid lockdown: City aims for business as usual but hurdles remain

Hong Kong CNN Business – China’s richest and most international city is trying to return to business as usual after a two-month lockdown, but some restrictions will remain in place. Shanghai authorities on Sunday pledged to allow all businesses to open up from Wednesday. The city’s deputy mayor, Wu Qing, announced the easing of restrictions … Read more

China zero-Covid: 100,000 officials attend emergency State Council meeting to revive economy

Hong Kong CNN Business – China’s cabinet held an emergency meeting with more than 100,000 participants on Wednesday, according to state media, as top leaders urged new measures to stabilize an economy battered by the country’s stringent Covid-19 restrictions. The unexpected video teleconference by the State Council was attended by officials across provincial, city and … Read more

Warning Signs in China’s Economic Outlook as COVID-19 Spreads – The Diplomat

Advertisement New variables both within and outside of China in 2022 have placed the country’s economy under new pressure. In the first quarter, its economic growth rate was only 4.8 percent, which was 0.7 percentage points lower than the annual economic growth target of 5.5 percent, indicating that China will face challenges in stabilizing economic … Read more

China’s economy is going backwards

Hong Kong CNN Business – China’s gigantic services sector just contracted at the second sharpest pace on record as Covid lockdowns hit businesses hard. The Caixin purchasing managers’ index, a closely-watched indicator for assessing the state of the economy, plummeted to 36.2 in April from 42 in March, according to a survey released by IHS … Read more