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☆ Spain floods: Furious residents in Valencia feel abandoned after historic floods with more rain on the way
▼ + stars: | 2024-11-04 | by ( Atika Shubert | ) edition.cnn.com time to read: +10 min

Manu Fernandez/AP A woman embraces a member of the Emergency Military Unit in Sedavi on Sunday. Susana Vera/Reuters Heavy machinery is used to carry out repairs on the flood-damaged railway tracks in Sedavi on Sunday. Manu Fernandez/AP A firefighter checks inside a vehicle at a flooded garage in Alfafar on Saturday. Susana Vera/Reuters Emergency services workers survey a devastated street in Letur on Wednesday. Susana Vera/Reuters A man dumps floodwater out of his house in Utiel on Wednesday.

Persons: Teen, DANA Desaparecidos, DANA Desparecidos, Mila, Manu Fernandez, Nacho Doce, King Felipe, Pedro Sanchez, Carlos Mazon, ”, Eva Manez, Susana Vera, Manaure Quintero, Hugo Torres, Pablo Blazquez Dominguez, Angel Garcia, Bruna Casas, —, Alberto Saiz, Biel, David Ramos, La Torre, Ana Escobar, Ismael Herrero, Shutterstock, Doce, Jose Jordan, Blanca Ruiz, Carlos Calmaestra, Oscar Del Pozo, Eva Defez's, Mateo Villalba Sanchez, Víctor, Alba Lozano Asencio, Luciano Esguerra, DANA Desaparcideo, ” Asencio, “, Spain’s King Felipe, Queen Letizia, Margarita Robles, Pedro de Juan, it’s, Francisco Bosque, AENA, AEMET Organizations: Spain CNN, Emergency, Unit, Reuters Volunteers, Reuters, Getty, Volunteers, AP, Military Unit, Reuters Firefighters, Reuters Vehicles, Biel Alino, Firefighters, La Torre, AP Authorities, Wednesday, Europa Press, CNN, Spanish, Barcelona’s El Prat Locations: Valencia, Spain, Picanya, Silla, Catarroja, Sedavi, Massanassa, AFP, Benetusser, Alfafar, Paiporta, Chiva, Benetússer, La, Letur, La Torre, Godelleta, Utiel, Sedaví, L'Alcúdia, Spanish, Barcelona, Barcelona’s, Castellon, Alicante

☆ Spain floods: Horrific details emerge of how Valencia victims died
▼ + stars: | 2024-11-01 | by ( Lauren Kent | Benjamin Brown | ) edition.cnn.com time to read: +6 min

Alberto Saiz/AP A man walks around a cemetery on the outskirts of Valencia on Friday. Alberto Saiz/AP People clear debris from a shop in Chiva on Friday. Alberto Saiz/AP A member of the Military Emergencies Unit searches for victims in Letur on Friday. Alberto Saiz/AP A man stands among damaged vehicles in Valencia on Thursday. Mud still fills the streets in many areas, with the mayor of Valencia sharing images of community clean-up efforts on Friday.

Persons: David Ramos, Manu Fernandez, Nacho Doce, La Torre, Ana Escobar, Susana Vera, Alberto Saiz, Ismael Herrero, Shutterstock, Doce, Jose Jordan, Blanca Ruiz, Carlos Calmaestra, Oscar Del Pozo, Eva Defez's, Mateo Villalba Sanchez, Eva Manez, Víctor, Spain’s, ”, RTVE, Paiporta’s, María José Catalá, La Organizations: CNN, RTVE, Firefighters, Getty, AP, Reuters, La Torre, Military, Unit, AP Authorities, Wednesday, Europa Press, Spain’s El Mundo, Spanish, “, ” Locations: Spain, Valencia, Torre, Benetússer, Chiva, Paiporta, La, Alfafar, Letur, La Torre, AFP, Godelleta, Utiel, Sedaví, L'Alcúdia, Spanish, Huelva, Andalusia, Orange

☆ China tightens export controls for tech and goods with military use, ahead of Xi's trip to Russia
▼ + stars: | 2024-10-21 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A DJI Inspire 1 Pro drone is flown during a demonstration at the SZ DJI Technology Co. headquarters in Shenzhen, China, on Wednesday, April 20, 2016. China has unveiled a set of export control regulations for so-called dual-use items, which refer to goods or technologies that can be used for civilian as well as military purposes, ahead of President Xi Jinping's trip to Russia. The regulations come amid intensified U.S. sanctions targeting Chinese companies which the U.S. deems have been supplying dual-use goods, such as drones, to aid Russia's war effort in Ukraine. China has attempted to show that "it is following similar norms as other nations in terms of how it regulates trade in dual-use goods," he added. Alicia Garcia-Herrero, chief economist for Asia-Pacific at Natixis, however, suggested that Russia will likely be exempted from the possible export controls.

Persons: Xi, Mao Ning, Benjamin Cavender, Alicia Garcia, Herrero, Alex Capri Organizations: SZ, Technology, State, China Market Research Group, National University of Singapore Locations: Shenzhen, China, Russia, Ukraine, Russian, Kazan, Washington, Asia, Natixis

☆ Hong Kong needs to diversify and build 'growth engines': Economist
▼ + stars: | 2024-10-16 | 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 EmailHong Kong needs to diversify and build 'growth engines': EconomistAlicia Garcia-Herrero, Chief Economist for Asia Pacific at Natixis, talks about key challenges that Hong Kong faces, adding that the city's economy needs to be diversified further to attract talent and drive future growth.

Persons: Alicia Garcia Organizations: Hong, Asia Pacific Locations: Hong Kong, Natixis

But the measures that Beijing’s economic planning agency announced this week proved to be an anticlimax — the trillions of yuan that observers were hoping would be revealed never materialized. Beijing might even miss its annual growth target of 5% — a figure it often surpassed prior to the pandemic. But while Chinese officials project confidence, the markets and the country’s public seem less convinced. Its broader financial lethargy and this week’s market turmoil will hardly be welcomed by Beijing. Costphoto / NurPhoto via Getty ImagesDomestic stimulus aside, there have been outward signs that China’s economy is in trouble.

Persons: Xi Jinping, Long Wei, ”, Keyu Jin, Trump, Joe Biden, isn’t, Fu, Miao Yuqing, Miao, Alicia Garcia, Herrero, what’s, Zheng Shanjie, Yue Su, ” Su Organizations: Beijing, Traders, Investors, CSI, Getty Images, London School of Economics, The, Communist Party, U.S, AFP, Getty, “, Asia Pacific, ”, National, Reform, Economist Intelligence Unit Locations: BEIJING, Shanghai, Hong Kong, China, Beijing, Hangzhou, Long, Lianyungang, Natixis, Guizhou province, Washington

☆ China's economic woes dampen 'Golden Week' holiday travel
▼ + stars: | 2024-10-01 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Passengers arrive at the Beijing railway station on the first day of peak travel ahead of the National Day holidays in China's capital city on Sept. 29, 2023. China is expecting to see more travelers during Golden Week, but the country's persistent economic woes will likely continue to weigh on overall spending this holiday season. Prices for both domestic and outbound flights during the National Day period declined compared to last year, according to report by Trip.com released last month. During the Golden Week holiday last year, China saw domestic tourism revenue reach 753 billion yuan ($107.37 billion). By comparison, a single-day record of 20.7 million trips were made on May 1, the start of China's Labor Day holiday.

Persons: Shaun Rein, Rein, Trip.com, Alicia Garcia Herrero Organizations: Golden, Authorities, Ministry of Transport, China Market Research Group, Ministry of Culture, National Railway Administration, China's Labor, Tourism Locations: Beijing, China's, China, Tourism

☆ Hong Kong's New World Development shares surge 23% after CEO resigns
▼ + stars: | 2024-09-27 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Signage at the New World Tower, which houses the headquarters of New World Development Co., in Hong Kong, China, on Thursday, Sept. 26, 2024. New World Developmen suspended trading of its shares in Hong Kong on Thursday morning. Shares of Hong Kong's New World Development surged following the resignation of Adrian Cheng, a member of the founding family. Hong Kong listed shares of the major development company traded 23% higher after trading resumed on Friday. New World's woes come as property pains continue to plague Hong Kong and mainland China.

Persons: Adrian Cheng, Cheng, Eric Ma Siu, Cheung, Alicia Garcia, Herrero, Hong Kong tycoons, China's Organizations: New, Hong, HK, Asia Pacific, CNBC, China's Locations: Hong Kong, China, Natixis, tycoons, Asia

$ 5.34 $ 5.34 Estimated Environmental cost + $ 22.02 Say a pound of beef costs $5.34 at your local supermarket. The Hidden Environmental Costs of Food Damage to the natural world isn’t factored into the price of food. The proponents of true cost accounting don’t propose raising food prices across the board, but they say that increased awareness of the hidden environmental cost of food could change behavior. (True cost accounting also typically includes things like labor rights and dietary health, but here we’re focusing on environmental costs.) Large disparities between the retail price of food and its environmental costs are found in the proteins many of us eat every day.

Persons: True Price, ”, Claire van den Broek, “ They’re, Alexander Müller, True, “, Scott Swinton, Roger Cryan, Mario Herrero, chickpeas Organizations: United Nations, Rockefeller Foundation, True, Sustainability, Michigan State University, American Farm Bureau Federation, New, Cornell University, Price, Beef, Oxford University, “, U.S . Department of Agriculture, Mountain, United Nations Food, Agriculture Organization Locations: Dutch, United States, Berlin, New York State, Denmark, Walmart.com, U.S, North America, Europe, Brazil, India, Netherlands, Germany

☆ 'Internal battle' in Modi's BJP on whether India needs Chinese investments, Natixis chief Asia economist says
▼ + stars: | 2024-08-01 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +5 min

Supporters of Bharatiya Janata Party (BJP) hold party flags as they celebrate Narendra Modi's swearing-in ceremony on June 9, 2024. Sopa Images | Lightrocket | Getty ImagesThere is an "internal battle" happening within India's ruling Bharatiya Janata Party over inviting Chinese investments, as the country strives to become Asia's manufacturing powerhouse, Alicia Garcia-Herrero, chief Asia Pacific economist at Natixis said. This proposal was shot down by Trade Minister Piyush Goyal on Tuesday who said that there was "no rethinking at present" on allowing Chinese investments into India, Reuters reported. Experts told CNBC that Chinese investments are needed in India's solar panel and battery manufacturing sectors — two areas that a report, citing Indian government sources last week, mentioned could see easing restrictions on Chinese investments. India increased scrutiny on Chinese investments into the country, and also blocked several Chinese mobile apps including TikTok following the incident.

Persons: Narendra Modi's, Alicia Garcia, Herrero, Natixis, V Anantha, Piyush Goyal, Modi, Garcia, Rajesh Kumar Singh, Harsh, Pant, Tauseef Mustafa, Jaishankar, Punit Paranjpe Organizations: Bharatiya Janata Party, BJP, Asia, Trade, Reuters, CNBC, Department, Promotion of Industry, Internal, Bloomberg, ICT, Communication Technologies, New Delhi's Observer Research Foundation, Afp, Getty, India's Foreign, Adani Locations: Asia Pacific, China, India, Europe, loggerheads, Eastern Ladakh, Tokyo, U.S, Mundra

☆ What Meloni achieved in her China trip this week is a win-win for both countries: Economist
▼ + stars: | 2024-07-30 | 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 EmailWhat Meloni achieved in her China trip this week is a win-win for both countries: EconomistAlicia García-Herrero from Natixis discusses China-Italy trade relations as Prime Minister Giorgia Meloni visits Beijing this week after pulling Italy out of BRI last year.

Persons: Meloni, Alicia García, Giorgia Meloni Locations: China, Natixis, Italy, Beijing, BRI

☆ Economist discusses potential bond market impact of French election results
▼ + stars: | 2024-07-08 | 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 EmailEconomist discusses potential bond market impact of French election resultsAlicia Garcia-Herrero, Asia-Pacific chief economist at Natixis, outlines what a shift to the left would mean for France and bond markets.

Persons: Alicia Garcia Locations: Herrero, Asia, Pacific, France

☆ India is not really China yet, economist says
▼ + stars: | 2024-06-10 | 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 EmailIndia is not really China yet, economist saysAlicia Garcia-Herrero of Natixis says India is reducing imports "massively."

Persons: Alicia Garcia Locations: China, Natixis, India

☆ Taiwan faces economic uncertainty as tensions with China are set to rise after DPP victory
▼ + stars: | 2024-01-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

watch nowAmundi warned a possible temporary economic blockade of Taiwan could alarm the markets. Political status quo, economic worriesChina has dismissed the outcome of Taiwan's elections, saying the DPP does not represent the mainstream public opinion. On Jan. 13, Taiwan delivered an unprecedented third presidential term to the ruling DPP's Lai, considered a China skeptic. Loss of legislature to temper DPP stanceThe DPP won the presidency, but it lost its majority in the the Legislative Yuan — Taiwan's parliament. Teneo's Wildau said Beijing was likely to continue refusing official dialogues with the DPP presidential administration, but could pursue conversations with KMT leaders.

Persons: Managment, Alicia Garcia Herrero, Nataxis, Gabriel Wildau, Teneo, Lai Ching, DPP's Lai, Wildau, Lai, Tsai, Mr Lai's, Yuan —, Yuan, Herrero, Teneo's Wildau Organizations: Bloomberg, Getty, Democratic Progressive Party, Taiwan, Asia, DPP, Economist Intelligence Unit, KMT, Taiwan People's Party Locations: Taipei, Taiwan, China, Beijing

☆ Autodesk's CMO explains why advertising on the MSG Sphere in Vegas, which reportedly costs $450,000 a day, was worth every penny
▼ + stars: | 2023-11-29 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

@brycebetts132 I've watched every video of the Sphere in Vegas and this new ad is by far my favorite. By comparison, running a billboard campaign in New York's Times Square for one to three days costs between $5,000 and $25,000, according to outdoor advertising company Inspiria Outdoor. A representative for the Sphere Entertainment Company said the company doesn't discuss financials. One TikTok video, which has notched up more than 14,000 likes, declared it " the best Sphere ad ." The Sphere debuted its first advertising campaign in September of this year and has featured brands including YouTube, the NBA, Heineken and Xbox.

Persons: @brycebetts132 I've, ♬, Dara Treseder, Treseder, tentacled, Ryan Reynolds, Otto Desć, Carla Herrero, Herrero Organizations: Autodesk, Marvel, Business, ♬ Marvel Studios, Sphere Entertainment, Autodesk University, YouTube, NBA, Heineken, Xbox, University College London, Mercedes, AMG PETRONAS Formula One Locations: Las Vegas, Vegas, New

☆ Opinion | She Polled Gazans on Oct. 6. Here’s What She Found.
▼ + stars: | 2023-11-03 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: 1 min

This episode of “The Ezra Klein Show” was produced by Emefa Agawu. Fact-checking by Michelle Harris, with Mary Marge Locker and Kate Sinclair. The show’s production team also includes Rollin Hu and Kristin Lin. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Sonia Herrero.

Persons: “, Ezra Klein, ”, Emefa Agawu, Michelle Harris, Mary Marge Locker, Kate Sinclair, Jeff Geld, Claire Gordon, Rollin Hu, Kristin Lin, Isaac Jones, Kristina Samulewski, Shannon Busta, Rose Strasser, Sonia Herrero Organizations: New York

☆ India is a ‘slow trundling elephant’ but a viable alternative to China, says veteran investor David Roche
▼ + stars: | 2023-10-23 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Veteran investor David Roche said India "is a slow trundling elephant" that still has many hurdles, but is now a viable alternative to China. "I think India stands to benefit from the decline in terms of the attractiveness of foreign direct investment and portfolio flows of China," Roche told CNBC's "Street Signs Asia" on Friday. After overtaking China to become the world's most populous nation, India could also leapfrog its neighbor to also become the world's second-largest economy by 2075. "So I think we're looking at a transfer of not only fixed investment by corporations, but portfolio investments out of China and into India," Roche said. "I think one has to look to sound the current levels and a note of caution about that," Roche warned.

Persons: David Roche, " Roche, CNBC's, Roche, Alicia Garcia, Herrero Organizations: China, Investors, Economic, CNBC Locations: India, China, Asia, Natixis

☆ China ramps up yuan internationalisation under Belt and Road Initiative
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +4 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. And funding BRI projects has helped China revitalise the once-stalled process of yuan internationalisation. Another policy bank, the Export-Import Bank of China, signed a yuan-based loan agreement with Saudi National Bank, while Bank of China helped Egypt issue Africa's first yuan-denominated Panda bonds. Beijing also allocated an additional 80 billion yuan ($10.94 billion) to its Silk Road Fund for BRI projects. "Can you do this in a targeted way with MOUs with all BRI countries?

Persons: Thomas White, Vladimir Putin, Xi, Alicia Garcia Herrero, China revitalise, Malaysia's Maybank, Haoxin Mu, Natixis, Garcia Herrero, Samuel Shen, Tom Westbrook, Simon Cameron, Moore Organizations: REUTERS, Rights, Initiative, Forum, Asia Pacific, Natixis, China International Capital Corp, China Development Bank, BBVA, Export, Import Bank of China, Saudi National Bank, Bank of, Fund, Thomson Locations: China, Rights SHANGHAI, SINGAPORE, Beijing, Russia, Asia, U.S, Ukraine, Africa, Europe, Egypt's, BBVA Peru, Bank of China, Egypt

☆ Is India still a bright spot? IMF upgrades growth, but economists say it will be a bumpy ride
▼ + stars: | 2023-10-12 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Pedestrians walk towards the Chhatrapati Shivaji Terminus train station at dusk in Mumbai, India, on Wednesday, Oct. 4, 2023. The International Monetary Fund has raised its growth forecast for India, saying the country's growth will remain strong in 2023 and 2024 — but analysts warn there will be headwinds ahead. According to the IMF's October update of its World Economic Outlook., India's economy will grow 6.3% in 2023, an increase from an earlier forecast of 6.1%. "India will continue to be a bright spot in the global economic picture," Alicia Garcia-Herrero, chief economist for Asia Pacific at Natixis said. Consumer spending remains one of the biggest growth drivers in the world's most populous nation, she added.

Persons: Alicia Garcia, Herrero Organizations: Monetary, CNBC, Asia Pacific, Consumer Locations: Shivaji Terminus, Mumbai, India, Natixis

☆ China’s economy will be hobbled for years by the real estate crisis
▼ + stars: | 2023-10-06 | by ( Laura He | ) edition.cnn.com time to read: +10 min

Absorbing this “excess capacity” in the property sector will inevitably hurt China’s economic growth, according to Garcia-Herrero. The money from the sales funded their breakneck expansion, making real estate moguls some of the country’s richest people. The strategy largely worked until about three years ago when the Chinese government cracked down on excessive borrowing by the real estate industry because it was worried about the risk of financial instability. But overall, the property sector has contracted severely as it adjusts to a collapse in demand. “A fundamental rewiring of China’s economy will necessitate a focus on developing new industries, improving productivity, and bolstering rental markets,” said analysts from Stanford University and the ASPI.

Persons: ”, Alicia Garcia, Herrero, Garcia, they’re, Evergrande, Xu Jiayin, Xi Jinping, ” Mark Williams, Sheana Yue, Zichuan Huang, “, — Michelle Toh Organizations: Hong Kong CNN, Investment, Asia Pacific, Getty, Bank, International Monetary Fund, IMF, Regulators, Capital Economics, People’s Bank of China, Oxford Economics, Stanford University, Asia Society Policy Institute, Oxford Locations: China, Hong Kong, Beijing, Natixis, Wuhan, China's, Hubei, Japan

☆ A pair of sandals from the Stone Age reveals that ancient people were not immune to unfortunate fashion choices
▼ + stars: | 2023-09-30 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementIt appears dads could have been making fashion faux pas even since the Stone Age. The dating reveals evidence of basketry — the ancient craft of basket making — in hunter-gatherer communities in southern Europe during the Mesolithic period and the early Neolithic period when societies began to transition to agricultural ways of life. As to whether the sandals were rocked with socks — that fashion offense wouldn't appear until several millennia later.

Persons: —, Cueva, los, Francisco Martínez Sevilla, University of Alcalá, los Murciélagos Organizations: Service, University of Alcalá, Autonomous University of Barcelona, University of, Nike, Archaeological Museum Locations: Granada, Spain, Europe, Barcelona, Madrid

☆ These 6,000-year-old sandals found in a Spanish cave are Europe’s oldest shoes
▼ + stars: | 2023-09-29 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

CNN —New analysis has identified the oldest shoes ever discovered in Europe, according to a study published this week in the journal Science Advances. The ancient footwear, along with Mesolithic baskets and other tools, was first discovered back in 1857, when a cave in southern Spain was looted by miners. The sandals were made of grasses as well as other materials, including leather, lime and ramie bast, a type of natural fiber. Using the descriptions provided by Góngora, the study hypothesizes that the bodies were buried wearing the sandals. The first phase was related to the Early Holocene hunter-gatherer populations, and the second phase to Middle Holocene farmers, researchers said.

Persons: Manuel de Góngora, Martínez, bast, ”, ” Francisco Martínez Sevilla Organizations: CNN, Autonomous University of Barcelona, Alcalá University, Adv, Góngora Locations: Europe, Spain, Spanish, Madrid, Granada

The United States imported nearly $127.5 billion in goods from Vietnam in 2022, compared with $101.9 billion in 2021 and $79.6 billion in 2020, according to US government data. The United States needs a trusted partner for its supply of chips, and Vietnam can do just that, Osius said. But that compares favorably with a global growth forecast of 3%, and is noticeably faster many of the world’s major economies, such as the United States, China and the eurozone. Politically, Vietnam shares many similarities to China in that it is an authoritarian one-party state that tolerates little dissent. Vietnam is an obvious choice, because it’s a cheap alternative to manufacturing in China, said García-Herrero.

Persons: Joe Biden, ”, Donald Trump’s, Nguyen Phu Trong, Biden, Antony Blinken, Evan Vucci, ” Ted Osius, Janet Yellen, Michael Every, Alicia García, Osius, chipmaker, Ho, “ We’re, Natixis, ” Osius, “, — CNN’s Kyle Feldscher, Jeremy Diamond, Kevin Liptak Organizations: Hong Kong CNN, America, Apple, Intel, House, Communist Party of, ASEAN Business Council, CNN, United, Atlantic Council, Rabobank, White House, United State, Monetary Fund, “, Netflix, Boeing Locations: Hong Kong, Vietnam, Washington, Hanoi, China, Asia, India, Communist Party of Vietnam, United States, Hanoi Nguyen Huy Kham, United, Beijing, The California, Ho Chi Minh City, Asia underwhelms

"There is a significant risk in the short term of financial crisis or other degree of economic crisis that would carry very substantial social and political costs for the Chinese government. By the time the global financial crisis hit in 2008-09, it had already met most of its investment needs for its level of development, economists say. To keep growth high, China in the 2010s doubled down on infrastructure and property investment, at the expense of household consumption. China has since backed away from major financial market liberalisation while plans to rein in state behemoths and introduce universal social welfare never quite materialised. "But at the same time there's a great fear of the short-term political and social risk, especially of provoking an economic crisis."

Persons: Xi Jinping's, William Hurst, Chong Hua, there's, Max Zenglein, We're, Logan Wright, Alicia Garcia Herrero, Hurst, Liangping Gao, Kevin Yao, Kripa Jayaram, Marius Zaharia, Sam Holmes Organizations: Development, University of Cambridge, International Monetary Fund, Asia Pacific, China's, Reuters Graphics, Thomson Locations: BEIJING, China, Japan, Beijing, Natixis

☆ Why China has few good options to boost its faltering economy
▼ + stars: | 2023-08-06 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Fiscal stimulus, for instance, amounted to just a third of the aid offered in the United States, with no nationwide cash handouts. “A comprehensive policy mix — covering monetary and fiscal stimulus, including infrastructure, property, and consumption, alongside structural reforms,” would be helpful to rebuild confidence, they said. It was seen as a success and helped boost Beijing’s domestic and international political standing as well as China’s economic growth, which soared to more than 9% in the second half of 2009. China’s debt woes have only deepened during the Covid-19 pandemic, when three years of draconian restrictions and a real estate downturn drained the coffers of local government. “An infrastructure-led fiscal stimulus would need to be much bigger to have the same economic impact,” she said.

Persons: they’ve, ”, Robert Carnell, Craig Singleton, Alicia Garcia, Herrero, China “, wouldn’t, Zhu Min, Garcia, Xi Jinping, Derek Scissors, Singleton, “ Organizations: Hong Kong CNN, CNN, ING Group, Foundation for Defense of Democracies, Manufacturers, Asia Pacific, UBS Global Wealth Management, International Monetary Fund, Bloomberg, American Enterprise Institute Locations: Hong Kong, China, Asia, Pacific, Washington, “, Beijing, United States, China’s, Tianjin

☆ Analysis-China's stubborn savers risk precipitating liquidity trap
▼ + stars: | 2023-08-04 | by ( Winni Zhou | Rae Wee | ) www.reuters.com time to read: +5 min

“Based on Japan’s experience in the 1990s, there is the risk that China is entering a liquidity trap due to the risks of balance-sheet recession,” said Natixis’s chief economist for Asia Pacific Alicia Garcia Herrero. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. Yet about 180 domestic A-share companies say in their stock filings that they have invested in CDs this year. China’s 220 million retail stock investors, equivalent to Brazil’s population and the biggest drivers of daily moves, have kept to the sidelines this year. “I wouldn’t pour money into the stock market any time before I see a clear rising trend,” he said.

Persons: Florence Lo, ”, Asia Pacific Alicia Garcia Herrero, “, Byron Gill, ‘, ” Gill, Betty Wang, Wu, ” Wu, John Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo’s Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai

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