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☆ China's economy is showing signs of serious trouble — and the problems are still mounting
▼ + stars: | 2023-08-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +9 min

Deflation — the trend of prices falling throughout the economy — presents a particularly dangerous trajectory for China, which carries a massive amount of debt. The main components of GDP on the demand side — consumption, investment, net exports — they all have serious problems right now." A shaky property marketMost of China's economic troubles tie directly into its property market. Roughly a quarter of China's population works in agriculture — well above the 3% mark in the US — and that presents its own productivity limitations. From an unstable, debt-ridden property market to anti-business policies and demographic issues, Beijing has plenty to tackle if it hopes to match the same growth as decades past.

Persons: David Dollar, Biden, Dexter Roberts, Roberts, Terry Group, it's, Xi Jinping Organizations: Service, China's National Bureau of Statistics, People's Bank of, Federal Reserve, Brookings, Bloomberg, JPMorgan, Financial Times, China's, Global, US Census Bureau, Atlantic Council, Communist Party, Garden Holdings, Beike Research Institute, Terry Locations: Beijing, Wall, Silicon, China, People's Bank of China, China's US, Western, Russia, Asia, Ukraine, Mexico, China cratered, Rocky

☆ Most of what we've heard about the yuan dethroning the dollar is from the West. Here's what China's actually said about it.
▼ + stars: | 2023-07-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

China wants the yuan to play a bigger global role but hasn't called for it to replace the dollar. China wants to make the yuan the global currency," The Washington Post reported in May. Meanwhile, the Chinese currency is in fourth place, after the Japanese yen. In April this year, Xi again raised China's goal of yuan internationalization in Qiushi magazine, a Chinese Communist Party journal. In Qiushi, Xi said that China was committed to promoting yuan internationalization "in an orderly manner."

Persons: Xi Jinping, Niall Ferguson, hasn't, dollarization, China's, Rory Green, Xi, SWIFT, Liqing Zhang, Zhang Organizations: Service, NPR, Washington Post, Stanford, CNBC, European Central Bank, Communist, TS Lombard, Communist Party, Green, Central Bank of, Media, Communist Party's, Daily, Chinese Communist Party, Securities Times, Central University of Finance, Economics Locations: China, Wall, Silicon, Beijing, Russia, London, Xinhua

☆ 3 reasons why even China doesn't want the yuan to replace the dollar as the world's reserve currency
▼ + stars: | 2023-05-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

The Chinese yuan is one of the top contenders challenging the USD's dominance as a reserve currency. However, Beijing may not be fully supportive of making the yuan the reserve currency of choice. Here's why even China isn't that keen on de-dollarizing the world economy and making the yuan the top reserve currency. So, the US will need to contend with ever larger amounts of deficit, in order to maintain its pre-eminent reserve currency position. Given the issues standing in Beijing's way, it's unlikely for the yuan to take over the greenback's position as the world's reserve currency of choice, said Green.

☆ Consumer spending in China isn't surging back yet, companies say
▼ + stars: | 2023-03-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

BEIJING — China has yet to see a strong rebound in consumer spending, according to major companies. He said it will take time for the government's stimulus measures to show up in consumers' income and confidence. JD reported Thursday a 7.1% increase in net revenue in the fourth quarter to 295.45 billion yuan ($42.8 billion). That's below expectations for 296.2 billion yuan, according to Reuters. The company's U.S.-listed shares closed more than 11% lower overnight.

☆ China has to figure out how to care for 400 million people over the age of 60 by 2040 — and it's off to a rocky start
▼ + stars: | 2023-02-20 | by ( Matthew Loh | ) www.businessinsider.com time to read: +11 min

By 2040, it's expected to have 400 million people above the age of 60 — more people than in the entire US. "It's obvious that relying on contributions from medical insurance schemes to fund age care services is not likely to be viable in the longer term," she said. Alzheimer's is quickly rising as a concern in China, Luk said. "Is China aging rapidly? Beijing has been pressuring the private sector into building daycare centers, wards, and other age care infrastructure to shore up gaps in local government finances, Gu said.

☆ Jamie Dimon says rates will rise above 5% because there is still 'a lot of underlying inflation'
▼ + stars: | 2023-01-19 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

JPMorgan Chase CEO Jamie Dimon believes that interest rates could go higher than what the Federal Reserve currently projects as inflation remains stubbornly high. Dimon said the recent easing of inflation comes from temporary factors such as a pullback in oil prices and a slowdown in China due to the pandemic. "We've had the benefit of China's slowing down, the benefit of oil prices dropping a little bit," Dimon said. "I think oil gas prices probably go up the next 10 years ... China isn't going to be deflationary anymore." The JPMorgan chief said if the U.S. suffers a mild recession, interest rates will rise to 6%.

☆ China isn't 'really willing' to cut Putin loose: Research organization
▼ + stars: | 2022-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina may try to create some distance from Russia but won't cut Putin loose: Research organizationRobert Daly of the Kissinger Institute on China and the United States says "China has been supporting the Russian invasion, it likes to say that it's neutral but that clearly hasn't been the case. In recent weeks, however, we've seen a change."

People walk through the City of London financial district during rush hour in London, Britain, October 3, 2022. Asia's main markets had struggled overnight but Europe's STOXX 600 (.STOXX) made a 0.5% early gain as both the pound and UK government bonds rallied in London. Invesco's director of macro research Ben Jones said the UK's volatility would remain a key focus for global markets. In currency markets, the dollar remains king as investors price in U.S. rates peaking around 5%. The rise of the dollar and global bond yields have been a drag for gold, which was stuck at $1,648 an ounce .

☆ China isn't eager to reunify with Taiwan by force: Bilahari Kausikan
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina probably isn't eager to start something to reunify with Taiwan by force: Ex-Singapore diplomatBilahari Kausikan, former permanent secretary of Singapore's Ministry of Foreign Affairs, says "because if you start that, you must win. I don't think any Chinese leader can survive a bungled attempt on Taiwan as Mr Putin bungled Ukraine."

☆ China is no longer just any emerging market — it has become its own beast
▼ + stars: | 2022-10-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China is no longer just another emerging market play. Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. So far, she said, the number of clients excluding China isn't "overwhelming," and by metrics such as per capita GDP the country remains an emerging market. An internal party committee, or office, gathers together a company's employees who are members of the Communist Party of China.

The raft of measures could amount to the biggest shift in U.S. policy toward shipping technology to China since the 1990s. If effective, they could hobble China's chip manufacturing industry by forcing American and foreign companies that use U.S. technology to cut off support for some of China's leading factories and chip designers. The rules published on Friday also block shipments of a broad array of chips for use in Chinese supercomputing systems. "The U.S. should stop the wrongdoings immediately and give fair treatment to companies from all over the world, including Chinese companies." On Saturday, China's foreign ministry spokesperson Mao Ning called the move an abuse of trade measures designed to reinforce the United States' "technological hegemony".

☆ The golden age of globalization is clearly over, says Singapore's Deputy Prime Minister Lawrence Wong
▼ + stars: | 2022-09-27 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

"The golden age of globalization that we experienced in the last 30 years since the end of the Cold War has ended clearly and we are entering a new era, a new era that will be marked by greater geopolitical contestation," said Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong. Bloomberg | Bloomberg | Getty ImagesThe golden age of globalization has ended and a fundamental change to the way the world works is underway, said Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong. "Where previously the logic was, countries do not have to be friends to do business with one another. In fact, the hope was that the more we trade and invest in each other, we will tamp down geopolitical rivalry," Wong said. "The generation of Chinese born perhaps in the last generations, many of them idealized America and the American way of life.

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