Asia Economy
China’s property sector could be turning around, but red-hot growth may be a thing of the past
Investor confidence in China’s real estate market appear to be boosted by the government’s promise to support the sector and some loosening of policies. But analysts say China’s high-growth property market may be a thing of the past. Getty Images | Getty Images News | Getty Images The tide may be turning on China’s battered […]
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Sri Lankan opposition to table no-confidence vote against government
Sri Lanka’s opposition is set to stage a no-confidence vote against the government, opposition lawmaker Harsha de Silva told CNBC on Monday. “We are confident we have the numbers and we will bring the motion at the appropriate time,” said de Silva, a parliamentary member from the opposition Samagi Jana Balawegaya party. His comments came […]
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Shanghai reports first Covid deaths since the start of its latest lockdowns
Shanghai, China’s largest city and the one hit hardest by the latest Covid outbreak, announced another round of mass virus testing that’s set to end Thursday, April 21. Str | Afp | Getty Images BEIJING — Shanghai city reported Monday its first Covid-related deaths since the latest wave of lockdowns began in earnest in late […]
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Why China shows no sign of backing away from its ‘zero-Covid’ strategy
While the rest of the world battled wave after wave of coronavirus, China’s strict zero-Covid policy kept case numbers down and national pride up. So how long can China maintain its strict Covid policies? And what matters most to Beijing? Thanks to its zero tolerance for Covid-19 cases, China was the only major economy to […]
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Sri Lanka’s reluctance to tap IMF helped push it into an economic abyss
Protesters in Colombo on Easter, April 17, 2022. The Rajapaksa government has leaned heavily on its foreign exchange reserves, eroding them by more than 70% in two years. Jewel Samad | AFP | Getty Images Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million […]
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Bank of Japan’s Kuroda warns recent yen moves ‘quite sharp,’ may hurt businesses
Haruhiko Kuroda, governor of the Bank of Japan, gestures while speaking during a news conference at the central bank’s headquarters in Japan, on March 18, 2022. He said on Monday the yen’s recent moves have been “quite sharp” and could hurt companies’ business plans. Kiyoshi Ota | Bloomberg | Getty Images Bank of Japan Governor […]
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China’s first quarter GDP beats expectations to grow 4.8% year-on-year
A traffic police officer prepares to check a truck at a service station near Shanghai, which has ordered tighter restrictions on travel in and out of the city as China battles its most severe Covid outbreak since the early days of the pandemic in 2020. Yin Liqin | China News Service via Getty Images BEIJING […]
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Shanghai targets lockdown turning point by Wednesday, sources say
Medical workers in protective suits check a child patient as they conduct ward rounds at Shanghai New International Exhibition Hall, which has been turned into a makeshift hospital for the coronavirus disease (COVID-19), in Shanghai, China April 9, 2022. China Daily | Reuters Shanghai has set a target to stop the spread of Covid-19 outside […]
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China’s Covid policy locks down a city three times the size of New York
The Huangpu River splits the Chinese city of Shanghai between the older settlement on the west and the newer, financial center on the east. Johannes Eisele | Afp | Getty Images China’s latest wave of Covid restrictions has forced millions of people — roughly three times as many as live in New York City — […]
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China’s lockdowns are a greater threat to inflation today than in 2020, Bernstein says
China’s automobile and component exports more than doubled in 2021 from a year ago, exceeding 30% growth in China’s exports overall, Bernstein analysts found. Yi Fan | Visual China Group | Getty Images BEIJING — China’s latest Covid lockdowns are a greater risk for global inflation today than they were in 2020, Bernstein analysts said. […]
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