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China operates talent programs at various levels of government, targeting a mix of overseas Chinese and foreign experts. China has previously said its overseas recruitment through the TTP aimed to build an innovation-driven economy and promote talent mobility, while respecting intellectual property rights, according to the state-run Xinhua news agency. It said that anyone who recommends a candidate who is then selected for the talent programs would receive "diamonds, bags, cars, and houses". In some cases, these people said, those experts will be offered roles at Chinese chip companies' overseas operations. ($1 = 7.1475 Chinese yuan renminbi)Reporting by Julie Zhu, Fanny Potkin, Eduardo Baptista and Michael Martina; editing by David CrawshawOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Xi Jinping, Qiming, Dean Boyd, Nick Marro, Chen Biaohua, Chen, Ma Yuanxiao, Dawei Di, Di, Zhuji, Julie Zhu, Fanny Potkin, Eduardo Baptista, Michael Martina, David Crawshaw Organizations: REUTERS, Washington, Reuters, China, Ministry of Industry, Information Technology, U.S . Commerce Department, Xinhua, Ministry of Science, Technology, U.S, government's National Counterintelligence and Security Center, Economist Intelligence, China Center for Information Industry Development, China Semiconductor Industry Association, Qiming, Massachusetts Institute of Technology, Harvard, Stanford, HK, LinkedIn, Hangzhou Juqi Technology, Fortune, Beijing Institute of Technology, BIT's School of Integrated Circuits, Electronics, Britain's University of Nottingham, University of Hong, BIT, Communist Party's Organization Department, Zhejiang University, Communist Party, Thomson Locations: China, HONG KONG, SINGAPORE, WASHINGTON, U.S, China's, Qiming, Beijing, Hangzhou, ResearchGate, University of Hong Kong, Ma, Zhejiang, Wenzhou, Cambridge

☆ Russia's inflation spike sets Kremlin and central bank on collision course
▼ + stars: | 2023-08-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

Russia's President Vladimir Putin (L) and Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky\TASS via Getty ImagesRussia's rising inflation and plunging currency have spotlighted an emerging discord between the Kremlin and the country's central bank. Analysts suggested the government's direct strong-arming of the central bank into monetary policy action was a sign of the problems faced by the country's economy. In other words, the Russian currency has entered a vicious circle that it will struggle to escape from." This is because the negative factors behind the weakening currency are largely outside the control of the Central Bank of Russia." She added that blaming the central bank has therefore become an "easy tactic" for the Kremlin in the absence of any tangible options through which to improve the situation.

Persons: Vladimir Putin, Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky, Vladimir Putin's, Maxim Oreshkin, Anatoly Aksakov, Agathe Demarais, Demarais, Stephanie Kennedy, Julius Baer, Kennedy Organizations: Russian Central Bank Governor, Getty, Kremlin, Central Bank of Russia, Bank, Bank of Russia, Financial, Bank of, Economist Intelligence Unit, CNBC, CBR, U.S . Locations: Russia, Bank of Russia, Ukraine

☆ An oversupply-led plunge in pork price has pushed the Chinese economy into deflation
▼ + stars: | 2023-08-09 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Pork prices are a significant driver of the consumer price index, and have fallen 26% year-on-year. Pork is the largest driver of the country's Consumer Price Index basket, comprising approximately 3% of it, per the Economist Intelligence Unit. "A rough rule of thumb is therefore that a 10% increase in the pork price will push up the CPI by 0.3%," the EIU said in a research note. The swing in pork prices over the past many years has thrown a huge challenge in front of China's hog farmers. This oversupply and resulting decline in pork prices has weighed heavily on the country's consumer price index, pushing the country into the region of deflation.

Persons: Oversupply, Xi Organizations: Service, Intelligence Unit, National Bureau, Statistics Locations: Wall, Silicon, China, Beijing

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. Investors in China's stock markets, however, were clearly underwhelmed, as Hong Kong's Hang Seng Index (.HSI) dropped roughly 2% over the week, while the mainland's benchmark CSI 300 index (.CSI) eked out a 0.7% gain. But investors are becoming frustrated by the time the NDRC is taking to flesh out stimulus policies, or order measures like a cut in stamp duty - that could help China's ailing property sector, and please investors in stocks and bonds. Even in a best-case scenario, growth over the second half of this year looks set to be modest." Reporting by Joe Cash and Albee Zhang in Beijing; Editing by Himani Sarkar & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, HSI, flexibly, Zou Lan, Xu Tianchen, Joe Cash, Albee Zhang, Himani Sarkar, Simon Cameron, Moore Organizations: People's Bank of China, REUTERS, National Development, Reform Commission, Communist Party's, UBS, Council, Economist Intelligence Unit, Weibo, Capital Economics, Thomson Locations: Beijing, China, BEIJING

BEIJING, July 31 (Reuters) - China's manufacturing activity fell for a fourth straight month in July while the services and construction sectors teetered on the brink of contraction, official surveys showed on Monday, threatening growth prospects for the third quarter. Construction sector activity for July was its weakest since COVID-19-related workplace disruptions dissipated around February, data from the National Bureau of Statistics showed. The non-manufacturing PMI, which incorporates sub-indexes for service sector activity and construction, dropped to 51.5 from June's 53.2. "Meanwhile, we're seeing improvements in inventory levels, suggesting that with destocking nearing its end, China's manufacturing sector bottomed out in the second quarter," he added. "Unless concrete support is rolled out soon, the recent downturn in demand risks becoming self-reinforcing."

Persons: Xu Tianchen, Julian Evans, Pritchard, Joe Cash, Sam Holmes, Edmund Klamann Organizations: National Bureau, Statistics, Communist Party, PMI, Economist Intelligence Unit, destocking, China, State, Capital Economics, Thomson Locations: BEIJING, China

☆ What Qin Gang's disappearance means for U.S.-China relations
▼ + stars: | 2023-07-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

U.S. officials greet Qin Gang, then China's foreign minister, ahead of a meeting with U.S. Secretary of State Antony Blinken (not pictured) in Beijing on June 18, 2023. Leah Millis | Afp | Getty ImagesBEIJING — The flurry over Qin Gang's disappearance and removal from the position of foreign minister has little impact on U.S.-China relations, analysts said. China officially announced his dismissal from the foreign minister role on Tuesday. China's foreign ministry has declined to shared why Qin had to leave his position. watch nowWhile Wang's return to the foreign minister role is unusual, his promotion to top diplomat had also come contrary to expectations of retirement.

Persons: Qin Gang, Antony Blinken, Leah Millis, Qin Gang's, Qin, China's, Wang Yi, Xi Jinping, Nick Marro, Xi, Wang, Jeremy Chan, Anna Ashton, Biden Organizations: U.S, Afp, Getty, Communist Party, Economist Intelligence Unit, Eurasia Group Locations: Beijing, BEIJING, China, Eurasia, Northeast Asia, U.S

Financial firms and their regulators have cut salaries and bonuses after China's top graft-busting watchdog vowed to eliminate "Western-style hedonism" in the $57 trillion sector. "Wage cuts will intensify deflationary risks and reduce willingness to spend," said Zhaopeng Xing, ANZ's senior China strategist. Reuters GraphicsWEAK BARGAINING POWERUnilateral wage cuts are illegal in China, but complex salary structures offer ways around that. Shao, who sold make-up in the eastern city of Suzhou and only gave her surname for privacy reasons, had a choice to leave her company or accept a 50% wage cut. Their bargaining power ... is weakened so they tend to accept wage cuts," said Aidan Chau, researcher at Hong Kong-based rights group China Labour Bulletin.

Persons: Yao, Zhaopeng Xing, ANZ's, Unit's Xu Tianchen, Zhaopin, Shao, Aidan Chau, Xu, he's, Xiangrong Yu, Ellen Zhang, Marius Zaharia, Liangping Gao, Kripa Jayaram, Kim Coghill Organizations: Communist Party, Financial, Economist, Reuters, Workers, China Labour Bulletin, Reuters Graphics Reuters, Citi, Graphics, Thomson Locations: China, BEIJING, HONG KONG, Hefei, Suzhou, Hong Kong, Shanghai, Beijing

BEIJING, July 13 (Reuters) - China's exports contracted last month at their fastest pace since the onset three years ago of the COVID-19 pandemic, as an ailing global economy puts mounting pressure on Chinese policymakers for fresh stimulus measures. Momentum in China's post-pandemic recovery has slowed after a brisk pickup in the first quarter, with analysts now downgrading their projections for the economy for the rest of the year as factory output slows in the face of persistently weak global demand. Outbound shipments from the world's second-largest economy slumped a worse-than-expected 12.4% year-on-year in June, data from China's Customs Bureau showed on Thursday, following a drop of 7.5% in May. Imports contracted 6.8%, steeper than an expected 4.0% decline and the previous month's 4.5% fall. With exports accounting for about one-fifth of the economy and the troubled property sector for about one-third, China's prospects have dimmed for a quick recovery after COVID-related lockdowns battered the economy in 2022.

Persons: Zichun Huang, Xu Tianchen, Li Qiang, Zhiwei Zhang, Joe Cash, Ellen Zhang, Edmund Klamann Organizations: Customs, . Imports, Reuters, Capital Economics, Administration of Customs, Exports, Economist Intelligence Unit, Management, Thomson Locations: BEIJING, China, Beijing, United States, Russia

☆ Thailand's Parliament is about to pick a new prime minister — and a generation's hopes are at stake
▼ + stars: | 2023-07-12 | by ( Clement Tan | ) www.cnbc.com time to read: +9 min

Move Forward Party leader and prime ministerial candidate Pita Limjaroenrat addresses supporters ahead of the July 13 parliamentary vote to elect Thailand's next prime minister, in front of Central World in Bangkok on July 9, 2023. The installation of Wan Noor as a compromise candidate after second-placed party Pheu Thai had objected to Move Forward's choice, was just the beginning. "It puts the Pheu Thai Party in an advantageous position if Mr Pita fails to get sufficient votes from the senators to back him as prime minister." Limjaroenrat needs 376 votes to become prime minister. Pictured in this May 18 photograph are (from left) Sudarat Keyuraphan, leader of the Thai Sang Thai Party; Pita Limjaroenrat, prime minister candidate and leader of the Move Forward Party; and Cholnan Srikaew, leader of Pheu Thai Party.

Persons: Pita Limjaroenrat, Thailand's, Tananchai, Wan, —, Party —, Limjaroenrat —, Prayut Chan, Wan Noor, Thai, Mr Wan, Syetarn Hansakul, Mr Pita, it's, Sudarat Keyuraphan, Cholnan Srikaew, Forward's, King Maha Vajiralongkorn, Prapanth Koonmee, Nomura, EIU's, Limjaroenrat, Napon Jatusripitak, ISEAS, Thitinan Pongsudhirak, Thaksin Shinawatra, — he's, Pheu, Thaksin, He's, he's, Pavin Chachavalpongpun Organizations: Forward Party, Afp, Getty, Thailand's, Representatives, Party, Harvard, Thai Party, Economist Intelligence Unit, National Assembly, Thai Sang, Pheu Thai Party, Limjaroenrat's, ISEAS Yusof, Institute, Chulalongkorn University, CNBC, Prachachat Party, Kyoto University's Center, Southeast Asian Studies, Thai Lawyers for Human Locations: Bangkok, Thai, Thai Sang Thai, Thailand, Singapore, Thai Rak Thai

☆ CNBC Daily Open: Jobs are still growing uncontrollably
▼ + stars: | 2023-07-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The ADP jobs report doesn't necessarily give a good estimate of the Department of Labor's jobs report. Worst days and plunging profitsU.S. stocks fell Thursday as traders grew concerned over what the scorching hot ADP jobs report means for interest rates. But there are six U.S.-listed Chinese stocks that Morgan Stanley says have the potential to rise dramatically — one's a chipmaker that can soar 80%.

Persons: Dow Jones, Korea's Kospi, Janet Yellen, Yellen, Morgan Stanley Organizations: CNBC, Department, Samsung Electronics, Reuters, Treasury, U.S ., Treasury Department, Economist Intelligence Unit Locations: Asia, Pacific, Hong Kong, China, Beijing, U.S, Japan, South Korea, Philippines, Taiwan

☆ Potential Taiwan conflict will hit these 3 countries the hardest, EIU report says
▼ + stars: | 2023-07-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +7 min

EIU defines a conflict as a "full-conflict scenario, involving direct military participation by China, Taiwan and the U.S." and based on the presumption of an escalation by China. To be clear, the EIU assesses the risk of a direct Chinese military assault on Taiwan as "very unlikely." The EIU also named a few "severely exposed markets": Australia, Malaysia, Thailand and Vietnam, as well as Hong Kong. In addition, both Malaysia and Vietnam would be exposed to a potential conflict with China if cross-strait hostilities spilled over and ignited a conflict in the South China Sea. The EIU said a conflict will cut off Taiwan's foundries, and at best, air and maritime links will be disrupted.

Persons: Ceng Shou Yi, Xi Jinping Organizations: Getty, Nurphoto, Economist Intelligence Unit, Nationalist, Taipei Representative, CNBC, Producers Locations: China, Taipei, Japan, Canada, India, Beijing, Taiwan, South Korea, Philippines, Taiwan Strait, U.S, Australia, New Zealand, Thailand, Singapore, Malaysia, Vietnam, Hong Kong, China . Hong Kong, British, South China, South, United Kingdom, United States, Canberra, Asia

☆ America keeps missing out on topping a list of the world's most liveable cities to Canada, Europe, and Australia
▼ + stars: | 2023-07-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Melbourne has topped the list seven times so far, but Vienna has come first for the past two years. Instead, the ranking has been dominated by cities in Europe, Australia, and Canada. Last year, when two cities were tied for both third and 10th place, the list consisted of six cities in Europe, three in Canada, and one each in Japan and Australia. In creating the list, the EIU looked at 173 cities across the world. Since the EIU started the ranking in 2009, Melbourne, Australia, has topped the list seven times.

Persons: —, –, isn't, San Diego – Organizations: Economist Intelligence, Service, New Zealand, Commonwealth Fund Locations: Melbourne, Vienna, Austria, Honolulu, Europe, Australia, Canada, Japan, New, Auckland , New Zealand, California, Los Angeles, San, San Francisco, New York City, Auckland, Vancouver

☆ Shocked by the speed of the Wagner revolt, Russia's neighbors want to beef up NATO's eastern flank
▼ + stars: | 2023-06-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Petras Malukas | Afp | Getty ImagesThe fallout of the Wagner Group's short-lived armed rebellion has raised the alarm among Europe's Baltic countries. Speaking alongside his counterparts from Latvia and Estonia on Tuesday, Lithuanian Foreign Minister Gabrielius Landsbergis said that the speed of the Wagner uprising underscored the strategic importance of strengthening NATO's eastern flank. Germany has offered to send around 4,000 troops to Lithuania on a permanent basis to bolster NATO's eastern flank. Russia's full-scale invasion of Ukraine in February last year had already fueled concerns about the regional security of the Baltic region. Regional security concernsLatvia Foreign Minister Edgars Rinkevics described the Wagner rebellion as an example of "one evil fighting another evil."

Persons: Griffin, Silvestras, Petras Malukas, Wagner, Vladimir Putin's, Yevgeny Prigozhin, Alexander Lukashenko, Prigozhin, Gabrielius Landsbergis, Landsbergis, Malukas, Catherine Colonna, Jens Stoltenberg, Russia's, Mario Bikarski, Federica Reccia, Edgars Rinkevics, Rinkevics, Wagner Group's, Vladimir Putin, Sergei Shoigu, Gavriil Grigorov Organizations: Afp, Getty, Belarusian, Lithuanian, NATO, French, European Union, Economist Intelligence Unit, CNBC, Latvia, AFP Locations: Lithuanian, Pabrade, Lithuania, Baltic, Moscow, Latvia, Estonia, Russia, Paris, Belarus, Estonian, Germany, Vilnius, Ukraine, Belarusian, Russian

☆ How New York City's sky-high cost of living stacks up to London
▼ + stars: | 2023-06-24 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

New York tied with Singapore as the most expensive cities in the world in 2022, according to the Economist Intelligence Unit's Worldwide Cost of Living Index. She recently challenged herself to limit her weekly spending to $150, something she's done while living in various cities around the world. Tracking your spending "really makes you conscious of how much you're spending," Wong said. A one-bedroom close to the city center is around $3,700 in New York, according to cost-of-living data collection project Numbeo as of June 21, while a comparable apartment in London would cost roughly $2,600. On top of a bigger rent payment, groceries are nearly 70% more expensive in New York, according to Numbeo.

Persons: Lucy Wong, Wong, Lily Slater Organizations: New York, Economist Intelligence, Index, London, Finance Locations: York, London, Singapore, New Yorker, New York

☆ Everyone is getting paid these days — except investment bankers
▼ + stars: | 2023-06-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

It's been a tough go for investment bankers recently. As if all that wasn't bad enough for bankers, The Wall Street Journal recently reported that even lawyers are now making more money than them. It turns out the culprit, as is often the case on Wall Street, is inflation. It's getting really tough these days to make the case for getting into investment banking. That begs the question: Why bother getting into investment banking at all?

Persons: Dan DeFrancesco, we've, Klaus Vedfelt, It's, —, Robert Kindler's, Morgan Stanley, Paul Weiss —, hasn't, Seth Rogen, Nick Offerman, Paul Dano, Steve Cohen, Alexandra, Emily Oster, David Solomon, Goldman Sachs, Solomon, Jeffrey Cane, Nathan Rennolds Organizations: GameStop, Street Journal, Sony, Bloomberg, Harvard, JPMorgan, Economist Intelligence, LinkedIn Locations: Republic, Semafor, New York, London

☆ Removal of Covid curbs improved Hong Kong livability tremendously: EIU
▼ + stars: | 2023-06-22 | 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 EmailRemoval of Covid restrictions improved livability of Hong Kong 'tremendously': EIUSyetarn Hansakul, senior analyst at the Economist Intelligence Unit, says Asia-Pacific cities made some of the biggest gains in this year's Global Liveability Index, including Hong Kong, which has "moved quite a fair bit."

Persons: Hansakul Organizations: Economist Intelligence Locations: Hong Kong, Asia, Pacific

☆ Vienna is the world's most livable city — again. Here are the other top spots
▼ + stars: | 2023-06-22 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +3 min

Austria's Vienna has come up on top again as the best city to live in globally, according to a report by the Economist Intelligence Unit (EIU). Austria's Vienna has come up top again as the best city to live in globally, according to a report by the Economist Intelligence Unit (EIU). Copenhagen also retains its position as the second most livable city in the world, while Australian cities Sydney and Melbourne broke into the top five. Hong Kong also moved 13 places up the rank to 61st most livable city in the world. Decline in stability scoresWhile health-care, education, infrastructure, culture and entertainment scores saw improvements in the past year, stability saw a "marginal decline," said the EIU.

Persons: New Zealand's Wellington, CNBC's, EIU Organizations: Austria's, Economist Intelligence Unit, Melbourne, Germany's Locations: Austria's Vienna, Copenhagen, Sydney, Vienna, Austria, Denmark, Melbourne, Australia, Vancouver, Canada, Zurich, Switzerland, Calgary, Geneva, Toronto, Osaka, Japan, Auckland, New Zealand, Asia, Pacific, New Zealand's, Hong Kong, Western Europe, Germany's Frankfurt

☆ A highly-regarded ranking of the world's most liveable cities just entered its 15th year. No US city has ever made the top 10.
▼ + stars: | 2023-06-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

The Economist Intelligence Unit just published its ranking of the most liveable cities. Melbourne has topped the list seven times so far, but Vienna has come first for the past two years. The EIU has been publishing its Global Liveability Ranking annually since 2009, apart from a break in 2020 during the pandemic. Instead, the ranking has mainly been dominated by cities in Europe, Australia, and Canada. Since the EIU started the ranking in 2009, Melbourne, Australia, has topped the list seven times.

Persons: —, –, isn't, San Diego – Organizations: Economist Intelligence, Service, New Zealand, Commonwealth Fund Locations: Melbourne, Vienna, Austria, Europe, Australia, Canada, Japan, New, Auckland , New Zealand, California, Los Angeles, San, San Francisco, New York City, Auckland, Vancouver

☆ The 11 world cities with the best quality of life
▼ + stars: | 2023-06-22 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

Vienna is still the most livable city in the world, according to the Economist Intelligence Unit's Global Liveability Index for 2023. That's according to this year's Global Liveability Index from the Economist Intelligence Unit (EIU) that was just published. The index is based on five categories measuring various aspects of the quality of life in each city, such as healthcare and infrastructure. The infrastructure category for instance includes things like the "quality of public transport," and the "availability of good quality housing," per the report. 1 last year too out of 172 cities instead of 173 cities, as Kyiv, Ukraine, wasn't part of the ranking last year.

Persons: — Organizations: Economist Intelligence, Service, Economist Intelligence Unit, Vienna, Osaka Locations: Vienna, Osaka, Japan, Auckland , New Zealand, That's, Kyiv, Ukraine, Copenhagen, Denmark, Vancouver, Canada, Auckland, Melbourne, Australia

☆ The Dangerous Reality of Modi’s India - The New York Times
▼ + stars: | 2023-06-22 | by ( Maya Jasanoff | ) www.nytimes.com time to read: +2 min

The message couldn’t be plainer: In Cold War II with China, the United States wants India on its side. Since Mr. Modi took power in 2014, India’s once-proud claim to being a free democratic society has collapsed on many fronts. Of the 180 nations surveyed in the 2023 World Press Freedom Index, India sits at 161, a scant three places above Russia. The Freedom in the World index has tracked a steady erosion of Indian citizens’ political rights and civil liberties. On the Economist Intelligence Unit’s Democracy Index, India has tumbled squarely into the ranks of “flawed democracies.”

Persons: Narendra Modi, ’, Bill Gates, Gina Raimondo, I’m, Modi, India’s Organizations: Modi —, Economist Intelligence Locations: India, United States, China, Modi’s India, Russia

☆ Most liveable cities: The 2023 rankings are in
▼ + stars: | 2023-06-21 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +8 min

The ranking of the world’s most liveable cities for 2023 has just been released by the Economist Intelligence Unit (EIU), and Vienna has come out on top yet again. The world's most liveable cities for 2023: The Economist Intelligence Unit (EIU) Global Liveability Index ranked Osaka, Japan as the 10th most liveable city in the world. Vladislav Zolotov/iStockphoto/Getty Images The world's most liveable cities for 2023 have been revealed (photos) Prev Next“The removal of covid-related restrictions has overall boded well for global liveability in 2023,” Upasana Dutt, Head of Liveability Index at EIU, said in a statement. Stability declineCalgary was one of three Canadian cities to make it into the top 10 on the 2023 list. Damascus, consistently one of the lowest-ranked cities in the survey, has seen no improvement in its liveability scores this year.

Persons: CNN — It’s, Pierre Ogeron, David Hanson, Vladislav Zolotov, ” Upasana Dutt, ”, Barsali Bhattacharyya, “ Organizations: CNN, Economist Intelligence Unit, Denmark’s, Sydney, Melbourne, Japan’s Osaka, Zurich, Geneva, Calgary, Getty, “, London, Industry Research, Algeria’s, Kyiv Locations: “, Austrian, Vienna, Melbourne, Sydney, Canada, Calgary, Vancouver, Toronto, Switzerland, Osaka, Japan, jenifoto, Geneva, Swiss, Zurich, Cavan, Australia, New South Wales, Copenhagen, Denmark, Austria, EIU, Asia, Europe, Stockholm, Edinburgh, Ukraine, Honolulu, Hawaii’s, San Diego, Los Angeles, Algeria’s Algiers, Libya’s Tripoli, Syria’s Damascus, Damascus, Ukrainian, ”, Kiev

Exports and factory output in the world's second-largest economy tumbled in May, as looming downturns force the United States and Europe to pare back orders for goods made in China. Some factories closed or are struggling to pay wages or severance for laid-off workers as a result, according to Chinese labour researchers. "We believe that the drop in manufacturing orders and that factory closures will continue," said Aidan Chau, researcher at Hong Kong-based rights group China Labour Bulletin (CLB). Labour unions were central to the Communist Party's proletariat beginnings but play only a marginal role in modern authoritarian China. However, some analysts say factory strikes could become a political headache for the Party.

Persons: pare, Aidan Chau, CLB, Dian, Xin Dian, Zhong Min, Xu Tianchen, Xu, Laurie Chen, Nicoco Chan, Marius Zaharia, Sam Holmes Organizations: China Labour Bulletin, Min, Goods Shenzhen Ltd . Co, Dian Cable Ltd . Co, Reuters, China's Ministry of Public Security, Ministry of Human Resources, Shenzhen, China Federation of Trade Unions, Manufacturers, Workers, Security, Labour, Party, Economist Intelligence Unit, Thomson Locations: BEIJING, United States, Europe, China, Hong Kong, Guangdong province, Shenzhen, Communist, Beijing, Shanghai

☆ Elon Musk: CEOs flock to China as risks to trade and investment rise
▼ + stars: | 2023-05-31 | by ( Michelle Toh | ) edition.cnn.com time to read: +8 min

To drum up business, Chinese leaders have urged foreign companies to invest more in the country, promising them an open and level playing field. “The interests of the United States and China are intertwined like conjoined twins,” he was quoted as saying by the foreign ministry. Over time, “there will be less trade” between China and the United States, Dimon predicted. The move was seen as retaliation for restrictions the United States has imposed on Chinese chipmakers. The interests of the United States and China are intertwined like conjoined twins.

Persons: Elon, Laxman, Jamie Dimon, Qin Gang, Tesla, Elon Musk, Musk, ”, Warren Buffett, Dimon’s, Dimon, That’s, Bain, “ who’s, ” Michael Hart, Ben Cavender, Nick Marro, Tim Cook, Cook, Marro, ‘, ” —, Sophie Jeong, Martha Zhou Organizations: Hong Kong CNN, Tesla, Starbucks, JPMorgan, Apple, Samsung, Aramco, Volkswagen, HSBC, Standard Chartered, Foreign, China's Ministry of Foreign Affairs, Reuters, China’s Foreign, Shanghai’s Communist Party, Bloomberg, Group, American Chamber of Commerce, CNN, British, of Commerce, China Market Research Group, US, Micron, Economist Intelligence Unit, “ Companies, China Development Forum Locations: Hong Kong, China, Beijing, United States, Shanghai, Taiwan, Washington, New York, American, Xinjiang

Economists expect such examples to become increasingly common in coming years, as a glut of university graduates and a shortage of factory labour due to an ageing workforce deepen China's job market imbalances. The industries most popular among fresh Chinese graduates, such as tech, education, real estate and finance, have all faced regulatory crackdowns in recent years. Reuters Graphics'ROLL UP YOUR SLEEVES'It is unclear exactly how many graduates are taking jobs below their skill level, but state media has acknowledged the trend. President Xi Jinping repeatedly exhorted young people to "seek hardships" in a recent state media article emphasising his suffering during the Cultural Revolution. China's education and human resources ministries did not immediately respond to requests for comment.

Persons: Thomas Peter, Liang Huaxiao, Liang, Keyu Jin, Xi Jinping, today's, Chim Lee, Jobs, Han Zhaoxue, master's, Wang, Laurie Chen, Marius Zaharia Organizations: REUTERS, Economist Intelligence Unit, Thomson Locations: Beijing, China, BEIJING, Taiyuan, Shanghai, Jining

Economists in a Reuters poll had predicted no growth in imports and an 8.0% increase in exports. Other recent data also showed South Korean exports to China, a leading indicator of China's imports, were down 26.5% in April, continuing 10 consecutive months of decline. China's coal imports fell in April from a 15-month high in the prior month, snapping back as demand weakens in Asian giant. Imports of copper - a proxy for global growth - and natural gas were also down in the same period. "The global economy is deteriorating and will weaken China's manufacturing sector," said Iris Pang, chief China economist at ING.

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