Asia Economy
Shanghai’s big automakers saw production plunge by 75% in April after lockdowns began
Although Shanghai began in mid-April to prioritize several hundred companies for resuming work, foreign business organizations have said that doesn’t mean the factories can operate at full capacity. Tian Yuhao | China News Service | Getty Images BEIJING — Auto production plunged in April as Covid lockdowns halted nearly all non-essential business in the metropolis of […]
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China’s consumer prices hit a six-month high as Covid prompts locals to stock up on food
Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING — China’s consumer and producer prices rose more than expected in […]
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Japan is set to open its doors in June, but some locals aren’t happy about it
As countries across Asia reopen to international travelers, Japan — one of the continent’s most popular destinations — remains firmly closed. That may soon change. Prime Minister Fumio Kishida announced Thursday at a news conference in London that Japan will ease border controls in June. Locals often celebrate the easing of pandemic-related border restrictions, but some […]
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New Zealand to open international borders fully to visitors from end-July
A view of the Auckland International Airport’s arrivals area on April 13, 2022. New Zealand Prime Minister Jacinda Ardern said on Wednesday the country will fully reopen its international borders from 11:59 p.m. on July 31, with cruise ships also welcome back to local ports on the same day. Fiona Goodall | Getty Images News […]
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Sri Lanka protesters call for new government a day after clashes kill eight
The burned buses near Sri Lanka’s former prime minister Mahinda Rajapaksa’s official residence, a day after they were torched by protesters in Colombo on May 10, 2022. Protesters and a key trade group in Sri Lanka called for a new government to take control of the crisis-hit country on Tuesday. Pradeep Dambarage | Nurphoto | […]
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WHO chief says China’s zero-Covid policy is not ‘sustainable’
A worker disinfects the walkway near closed shops after many retail stores were closed to help prevent the spread of Covid-19 on May 10, 2022 in Beijing, China. The head of the World Health Organization said on Tuesday China’s zero-tolerance Covid-19 policy is not sustainable given what is known of the disease. Kevin Frayer | […]
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Biden says White House could drop Trump China tariffs to lower consumer prices
President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the U.S. — just as Wall Street braces for another inflation report north of 8%. The White House is reviewing the penalties imposed under former President Donald Trump — which raised prices on […]
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More U.S. companies in China cut forecasts, scale back investments as Covid persists
Truck drivers, such as the one pictured here in Shanghai in late April, typically need to show valid negative virus tests in order to move goods between cities in China. The American Chamber of Commerce in China said members have reported varying implementation of Covid controls depending on city and province. Vcg | Visual China […]
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Philippine central bank chief says he’s ‘not concerned’ about recent peso weakness
There are multiple reasons why the Philippines’ central bank chief, Benjamin Diokno, is “not concerned” about recent weakness in the peso against the dollar. As of Tuesday morning during Asia trading hours, the peso has weakened more than 2.5% against the greenback so far this year. It last traded at 52.38 per dollar, after Reuters […]
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Sri Lanka’s Prime Minister resigns, curfew imposed after clashes
Sri Lankan Prime Minister Mahinda Rajapaksa stepped down as demonstrator’s protest the country’s worst economic downturn. Nurphoto | Nurphoto | Getty Images Sri Lanka’s prime minister resigned on Monday, hours after clashes with pro- and anti-government demonstrators in the commercial capital Colombo amid the country’s worst economic crisis that has spurred protests by thousands. During […]
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