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[1/2] A general view of the sun rising behind the White House in Washington, U.S. January 22, 2021. REUTERS/Jonathan Ernst/File PhotoWASHINGTON, Aug 11 (Reuters) - President Joe Biden's comment about China being a "ticking time bomb" referred to internal economic and social tensions that could have an effect on how Beijing interacts with the world, a White House official said Friday. Kirby defended the funding request, saying, "Yes, this is an urgent need for us to be able to provide an alternative." Biden told donors: "China is a ticking time bomb ... China is in trouble. Liu said China's GDP growth continued to provide an important support for the development of the global economy.

Persons: Jonathan Ernst, Joe Biden's, John Kirby, Kirby, Liu Pengyu, Biden, Liu, We've, Xi Jinping, Andrea Shalal, Michael Martina, Chris Reese, David Gregorio Our Organizations: White, REUTERS, Reuters, China's National Bureau, Statistics, Thomson Locations: Washington , U.S, China, Beijing, Utah, Washington, United States, India

☆ It's about to get harder for US firms to invest in Chinese markets
▼ + stars: | 2023-08-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

President Biden will announce an executive order that bans investments in some Chinese tech companies in 2024. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The Wednesday development marks the latest step by the White House to limit investors' involvement and access to Chinese markets. In July, the Wall Street Journal reported that the US could soon curb cloud providers from selling services to China. It's another sign that illustrates how the Chinese economy has stumbled out of the pandemic rather than rebounding.

Persons: Biden, Joe Biden, Janet Yellen Organizations: Service, New York Times, White, Wall Street Journal, Bloomberg, China's National Bureau, Statistics Locations: Beijing, China, Wall, Silicon

☆ Chinese millennials are freaking out about the 'Curse of 35' — when they become too old for entry-level jobs, and too young and broke to retire
▼ + stars: | 2023-08-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

"You're too old to work at 35, but too young to retire at 60," one person wrote, bemoaning the "curse." It refers, specifically, to the typical Chinese employer's preference for hiring workers who haven't reached the sell-by date of their 35th birthday. And it's not just about finding work — Chinese workers being phased out at what was previously viewed as the prime of their careers means their livelihoods could be seriously affected. "At this point in time, youth unemployment is high, so many young workers are willing to work for less. Seah told Insider that increased competition for younger workers "will eventually drive up youth wages, making them relatively more expensive to hire."

Persons: haven't, Hector Retamal, Huang, Tania Lennon, Lennon, I, Kevin Frayer, workhorses, Kelvin Seah, Seah, aren't, National University of Singapore's Seah Organizations: Twitter, Service, Getty, Peterson Institute for International Economics, International Institute for Management Development, China Initiative, Bureau of Statistics, National University of Singapore, National Bureau of Statistics, Employers, National University of Singapore's Locations: China, Wall, Silicon, Weibo, Beijing, AFP, Quy Huy

☆ China's economy is in trouble - and its youth unemployment crisis is at the heart of the problem
▼ + stars: | 2023-07-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China's youth unemployment problem is the root of its economic woes, according to economist Nancy Qian. That's largely due to a shortage of high-skill, high-paying jobs, which will weigh on its economy. That's largely been driven by the lack of high-skill and high-paying jobs in China's employment market, which have left many college graduates unable to find work. Meanwhile, China's economy has been slowing, with the nation seeing a disappointing economic revival since dialing back its zero-COVID policies at the start of this year. But current patterns raise profound concerns for China's economic outlook, especially considering that the government's policies for addressing them have not worked," Qian said.

Persons: Nancy Qian, That's, Qian, It's, that's Organizations: Service, Northwestern University, Project Syndicate, National Bureau of Statistics, Monetary Fund Locations: Wall, Silicon, China

☆ China's producer prices sink again in June in latest sign of stalled recovery
▼ + stars: | 2023-07-10 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Producer prices sank 5.4% in June from a year earlier and slipped 0.8% from a month ago, according to China's National Bureau of Statistics. This was weaker than a Reuters poll that had expected a 5.0% annual decline, compared with the 4.6% annual decline in May. The annual decline in June was China's ninth consecutive drop and its steepest since December 2015. Monthly consumer price inflation in June was weaker 0.2%, weaker than expectations for flat growth and tracking the 0.2% decline in May. But this would still be soft and won't constrain the People's Bank of China's ability to loosen policy further."

Persons: Zhichun Huang, —, Huang, PBOC Organizations: Visual China, Getty, National Bureau of Statistics, Reuters, Bank, People's Bank of China Locations: China, Ukraine

☆ China's factory activity grew more slowly in June, Caixin survey shows
▼ + stars: | 2023-07-03 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

China's factory activity grew more slowly in June, a private-sector survey showed on Monday, corroborating official data last week that pointed to stuttering growth in the world's second-largest economy. The Caixin/S&P Global manufacturing purchasing managers' index slipped to 50.5 in June from 50.9 in May. China's National Bureau of Statistics released data last Friday that showed the country's official manufacturing PMI coming in at 49.0 in June — compared with 48.8 in May. "Problems reflected in June's Caixin China manufacturing PMI, ranging from an increasingly dire job market to rising deflationary pressure and waning optimism, also point to the same conclusion." The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers that tend to be more export-oriented and located in China's coastal regions, while the official PMI surveys 3,200 companies across China.

Persons: —, Wang Zhe Organizations: P Global, National Bureau of Statistics, Caixin Insight, PMI Locations: June's, China

☆ China’s economy is way more screwed than anyone thought
▼ + stars: | 2023-06-14 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

The bubble in China's property market finally popped. In April, China's economic data came in weak largely across the board. The problem is that while consumers may be picking up, the biggest drivers of the Chinese economy — property and exports — are going to stay dormant. Consumer consumption makes up about 37% of the Chinese economy (in the US that figure is about 70%). Beijing has tried to shift the country toward a consumption model, like the US, but exports still make up 20% of China's economy.

Persons: lockdowns, it's, Xi Jinping, Stanley Druckenmiller, We're, Morgan Stanley, Goldman Sachs, Wei Yao, Leland Miller, Miller, Yao, Wright, I've, —, Kearney, Linette Lopez Organizations: Trade, JPMorgan, Bloomberg Invest Conference, Bank of America's, China's National Bureau, Statistics, Societe Generale, Analysts, Beijing, China, Chinese Communist Party, China's Locations: China, globalism, Beijing, York, Asia

☆ Economic stimulus in China would be a win for 3 stocks tied to Chinese consumers
▼ + stars: | 2023-06-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

The recovery in China has been much slower than what other major countries experienced when they lifted their pandemic restrictions. Still, the Chinese consumer has proved to be resilient in the face of these broader economic challenges. It marked the fastest pace of growth since the first quarter of 2022, fueled by higher spending from Chinese consumers. Club stock results Recent financial results from our China-exposed companies show that Chinese consumers have been holding up even as broader economic recovery is delayed. China is a growth market for each company and improvement in economic activity there should be a catalyst for these stocks.

Persons: Estee Lauder, —, Ting Lu, WYNN, hasn't, Jim Cramer's, Jim Cramer, Jim, Jason Lee Organizations: Starbucks, Wynn Resorts, WYNN, China Index Academy, National Bureau of Statistics, Club, Gaming, Prestige, CNBC Locations: China, China's, Beijing, Macao, Asia, SBUX

☆ China's producer prices plunge the most in seven years as deflation hangs over economy
▼ + stars: | 2023-06-09 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

People walk past buildings in Shanghai, Shanghai, China, on Friday, April 21, 2023. Producer price index in May fell 4.6%, marking the steepest year-on-year drop in seven years, when producer prices saw a year-on-year drop of 7.2% in May 2016. China's low consumer inflation and deflation in its producer prices come in contrast to relatively high inflation in major economies around the world. The mining and raw material industries led declines in producer prices, while food, tobacco and alcohol prices led consumer price gains, the data showed. Nearing bottomDespite the softness in the latest price indexes, one China market watcher seemed to be holding on to an optimistic "long China" call.

Persons: Zhiwei Zhang, Zhang, Andrew Maynard of Organizations: Bloomberg, Getty, Reuters, CPI, U.S . Federal Reserve, U.S ., CSI, China's National Bureau, Statistics Locations: Shanghai, China, Canada, Australia, Shenzhen, Andrew Maynard of China

☆ Wall Street turns even more bullish on China's economy as the end of zero COVID boosts growth
▼ + stars: | 2023-04-19 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Some of Wall Street's top banks raised their forecasts for China's economy this week. The banks all predict China's GDP will grow by around 6% in 2023. UBS also turned more bullish on China's economy, raising its year-end prediction to 5.7%. "We expect China's GDP to peak around 8% in the second quarter before easing to around 5.5% in the second half of the year." "This will bring the full year GDP growth to at least 5.7%, in our view," the strategists added.

☆ China's economy is on the rebound — and that's good news for 3 of the Club's consumer stocks
▼ + stars: | 2023-04-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Estee Lauder (EL), Starbucks (SBUX) and Wynn Resorts (WYNN) are the Club's consumer discretionary stocks with the greatest exposure to the Chinese market. Shares of Estee Lauder, Starbucks and Wynn — up roughly 3.5%, 9.2% and 37.5% year-to-date, respectively — edged up on the news Tuesday. For Estee Lauder, a leader in luxury skin care, makeup and fragrances, China accounts for about a third of total revenue. The Club's take China's latest economic data highlights our investment case for our three big consumer companies doing business in the country. However, we're pleased to see a robust rebound in consumer activity in the world's second largest economy, signifying a positive growth outlook for Estee Lauder, Starbucks and Wynn Resorts.

☆ China is home to one of the world's biggest luxury markets, and it's starting to make a comeback after the country's 3-year COVID lockdowns
▼ + stars: | 2023-04-12 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

China is an important luxury market. Bain expects these consumers will account for 46% of the global luxury market by 2025. However, Wu's comments echoed Bain's positive outlook for China's luxury market. China's consumer price index, or CPI — the monthly change in prices paid by consumers — showed bleak data for March. It could be the reason Bank of America's Wu told CNBC that strong recovery across China's consumer sector has not yet been seen.

☆ China is facing a population crisis but some women continue to say 'no' to having babies
▼ + stars: | 2023-04-10 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +7 min

D3sign | Moment | Getty ImagesChina is facing a population crisis in part due to more women choosing to focus on their careers and personal goals, instead of starting a family. Helping women strike the balanceTrip.com is one Chinese company that takes pride in trying to encourage more women to have children. Women in China who want to freeze their eggs must be married, according to Chinese regulations. However, some women in China want children but may not be ready to get married, said Mu the assistant professor from NUH. Shannon a single motherAdditionally, women who divorce after having children face social stigma and struggle to balance their career while raising a child alone.

☆ Chinese tourists are traveling again — but not the way they used to
▼ + stars: | 2023-03-15 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

That could mark a significant change in the international travel market, to which Chinese tourists are outsized contributors. In the first half of that year alone, their outbound travel spend surpassed $127.5 billion, a study from Chinese travel booking site Ctrip.com found. Chinese outbound travel is forecast to recover around two-thirds of its pre-pandemic levels in 2023. Leopatrizi | E+ | Getty ImagesBecause of those shortcomings, countries that can accommodate Chinese travelers' shifting needs have emerged as clear winners. Thailand, for instance, offers visas-on-arrival to fully vaccinated Chinese tourists who have travel insurance.

☆ Europe markets set to open higher as investors digest Fed comments, inflation data
▼ + stars: | 2023-03-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European markets were on course to open higher Friday, extending the previous session's gains as investors take stock of the slew of economic data published this week. Across Europe, inflation data came in hotter than expected. A flash estimate for the euro zone showed headline inflation eased from 8.6% to 8.5%, but this was above a consensus estimate; while core inflation rose from 5.3% to 5.6%. However, in a separate speech, Fed Governor Christopher J. Waller raised the possibility of a higher terminal rate if inflation does not cool, citing January's bumper payrolls report. Asia-Pacific markets were mostly higher Friday, while U.S. stock futures nudged lower.

☆ Key bond yields spike to their highest levels in 3 months as the strongest Chinese manufacturing report in a decade stokes new inflation fears
▼ + stars: | 2023-03-01 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Bond yields soared Wednesday, extending this year's jump in borrowing costs. The closely watched 10-year Treasury yield pushed above 4% for the first time since November. The 10-year Treasury yield, a gauge of borrowing costs for a range of consumer loans and other debt, sprang up nine basis points to 4.006%. Bond yields have shot up in 2023 after a run of higher-than-expected consumer and wholesale prices for January. As bond yields have risen, "bond love" is at a 10-year high, Bank of America said Wednesday.

☆ Bitcoin edges higher after dismal February for risk assets as investors assess rate outlook and new China data
▼ + stars: | 2023-03-01 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Bitcoin and other risk assets rose after strong Chinese manufacturing activity data. The coin on Wednesday was gaining ground on notably strong manufacturing data out of China. China's National Bureau of Statistics said its manufacturing activity index rose to 52.46 in February, the highest reading since April 2012, according to Bloomberg. Chinese stocks bounced higher, with the Hang Seng Index soaring more than 4%. Copper was another risk-on asset gaining ground, up 1.2% at $4.14 per pound on prospects of higher Chinese demand for the metal used for construction projects.

☆ European markets head for modestly higher open, continuing muted trend seen this week
▼ + stars: | 2023-03-01 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a modestly higher open, continuing the lackluster trend seen on Tuesday when regional markets closed lower after a mostly muted session. U.S. stock futures inched downward overnight as investors came off a losing month. In Asia-Pacific markets, stocks mostly rose as investors digested a slew of key economic data across the region. China's National Bureau of Statistics also reported its official manufacturing purchasing managers' index rose to 52.6 in February, the highest since April 2012.

☆ China's economic recovery is off to a slow start
▼ + stars: | 2023-02-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Hector Retamal | Afp | Getty ImagesBEIJING — China's economic recovery is off to a modest start. Migrant workers have mostly returned to work after China's biggest holiday of the year, and children went back to school this week. It also remains to be seen how demand from China's growth picks up as businesses resume work and travel after the Lunar New Year holiday. Robin Xing, chief China economist at Morgan Stanley, pointed out that in-person meetings are particularly important for doing business in China, and that such interactions weren't easily feasible last year. Ting Lu chief China economist, Nomura

☆ In aging China, a call for 'bold' steps to cut cost of having babies
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +3 min

HONG KONG, Feb 10 (Reuters) - A Chinese health official has urged local governments to take "bold" steps to lower the cost of having babies and raising children to reduce the burden on families and boost fertility, a state-backed publication reported on Friday. In addition to that is the prospect of a rapidly aging population slowing the economy as revenues drop and government debt increases because of soaring health and welfare costs. Yang Wenzhuang, director of Department of Population Monitoring and Family Development under the National Health Commission (NHC), stressed the importance of family support for improving the fertility rate, the publication the Paper reported. China had to "firmly grasp the important window period of population development" during its 14th five-year plan which runs until 2025, to accelerate "the promotion of childbearing support", he said. Yang's comments were published in the latest issue of NHC-managed magazine, Population and Health, the Paper said.

China's population is shrinking. This shocking statistic is only the start of China's population decline. This year India is set to surpass China's population, and in a few years it will surpass China's working-age population — people 20 to 69. Because of its manufacturing prowess and importance to supply chains, China's shrinking working-age population has enormous, direct effects on the global economy. Among today's largest economies, only the US has a projection of positive population growth, though at very low levels.

☆ China’s population shrinks for the first time since 1961
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

[1/5] An elderly person holds a child near lanterns decorating a shop ahead of the Chinese Lunar New Year, in Beijing, China, January 15, 2023. REUTERS/Tingshu WangBEIJING, Jan 17 (Reuters) - China's population fell last year for the first time since 1961, a historic turn that is expected to mark the start of a long period of decline in its citizen numbers and see India become the world's most populous nation in 2023. The country had 1.41175 billion people at at the end of 2022, compared with 1.41260 billion a year earlier, China's National Bureau of Statistics said. China also logged its highest death rate since 1976, registering 7.37 deaths per 1,000 people compared with a rate of 7.18 deaths in 2021. China's stringent zero-COVID policies that were in place for threee years before an abrupt reversal which has overwhelmed medical faciliites, have caused further damage to the country's bleak demographic outlook, population experts have said.

☆ China's October retail and industrial data miss expectations
▼ + stars: | 2022-11-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Covid cases have soared in China's capital city of Beijing, where many communities have been recently locked down or under tighter health monitoring as the country maintains its zero-Covid policy. BEIJING — Three indicators on China's economy in October missed expectations and marked a slowdown from September, according to data released by China's National Bureau of Statistics on Tuesday. Retail sales fell by 0.5% in October from a year ago — the first decline since May — and industrial production grew by 5%, the data showed. Analysts polled by Reuters expected retail sales would slow to 1% year-on-year growth in October, and that industrial production would also slow to 5.2% growth. Investment in real estate declined further in October on a year-to-date basis, while that in manufacturing slowed slightly from September.

☆ Asia-Pacific markets set to rise ahead of China factory activity data
▼ + stars: | 2022-10-31 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan. Shares in the Asia-Pacific are set to rise on Monday ahead of China's factory activity data that's slated to be released, and as markets look ahead to the U.S. Fed meeting later this week. On Friday in the U.S., major stock indexes jumped 2% each on optimism that inflation may be slowing. Later this week, the Federal Reserve will hold its policy meeting and announce its interest rate decision. Several countries will report inflation data this week.

☆ China delayed the release of key economic data to avoid distraction amid the Communist Party Congress, not to conceal data, analysts say
▼ + stars: | 2022-10-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China delayed the release of key economic data, including third-quarter GDP, scheduled for this week. The postponement of the data — GDP in particular — has raised speculation that the numbers are deliberately being hidden. "Beijing just wants everyone and the media coverage to focus on the Congress, not on economic data." While delays in monthly statistical data release are indeed "quite unusual," they are not unprecedented, according to Zhuang. However, it's the first time Beijing is delaying GDP data release.

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