China
China’s economy may be ‘struggling’ — but it’s ‘not in serious trouble,’ says economist
The Chinese economy is “struggling” for now — but it’s “not in serious trouble,” according to Derek Scissors chief economist at research firm China Beige Book. “We’re not looking at outright contraction as China suffered in 2020,” Scissors told CNBC’s “Squawk Box Asia” on Tuesday. He was referring to how the Chinese economy saw a […]
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Container shipping could rebound by late April as Covid eases in China, shipping investment firm exec says
The container shipping industry could see a “very strong” pickup starting late April as the Covid situation in China eases, Tim Huxley, founder of Mandarin Shipping, told CNBC’s “Street Signs Asia” on Monday. Shanghai has been on lockdown since last month because of a rise in Covid-19 cases. The city, also home to the world’s […]
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Audi’s new concept car is a self-driving ‘lounge on wheels’ for city travelers
Audi electric Urbansphere concept car Audi Audi is adding a “lounge on wheels” to its recent portfolio of electric concept vehicles that are designed to portray the German automaker’s vision for the future of transportation in automobiles. The new “Urbansphere” concept was designed for travelers in highly dense traffic areas such as China as a […]
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Market will break out of slump due to peaking inflation, Evercore ISI predicts
The market slump may be in its final innings. According to Evercore ISI’s Julian Emanuel, stocks should start grinding higher due to peaking inflation. He cites a positive trend going back to the last time stocks and bonds fell together: 1994. “The market just sort of digested it, and there was a lot of sideways […]
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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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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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Shanghai turns residences into Covid isolation facilities, sparking protest
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 is converting residential buildings into quarantine centers to house a mounting […]
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Chinese EV maker Nio says it’s gradually resuming production after Covid halt
In February 2020, Nio got a lifeline of financing support led by the government of Hefei city, where the electric car start-up has established its China headquarters. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car company Nio said Thursday it is gradually resuming production at a facility several hours’ drive west […]
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