China’s chances of becoming the world’s top economy might need rethinking, said Mohamed El-Erian, chief economic adviser at Allianz.
FINANCE
China jobs: as the iron rice bowl starts to crack amid mounting debts, can civil servants still put bread on the table?
With revenues from land sales falling by more than 20 per cent last year amid mounting debt, local governments are being forced to scale back public services Jobs with public sector or state-owned …
POLL-China’s Aug new yuan loans seen rebounding on policy support
Local governments issued a net 2.497 trillion yuan in special bonds in the first seven months of 2023, the finance ministry data have shown, as authorities accelerated special bond issuance for …
Apple lost nearly $200B in market capital in matter of days on reports of iPhone restrictions in China
Apple has lost nearly $200 billion in market value amid a string of reports citing iPhone curbs for workers in China, according to data collected by Dow Jones Market Data Group.
China may never become the world’s biggest economy and has thrown out its old playbook, Mohamed El-Erian says
Bets that the Chinese economy still has a shot at reaching the top might have to be reconsidered, Mohamed El-Erian wrote in the Financial Times. Though blowout growth of past decades has helped China …
Biden Will Seek World Bank Reform to Counter China at G20 Summit in India
President Biden will use the G20 Summit to call for debt relief for developing countries and other reforms to the World Bank and International Monetary Fund.
China’s Ant Group unveils finance AI model as race heats up
Ant Group unveiled a finance-specific artificial intelligence (AI) model on Friday and started testing consumer and professional apps for the product, joining a crowded race to deploy AI in heavily …
(LEAD) No official export ban on urea by China in effect: finance ministry
South Korea’s finance ministry said Friday it has confirmed that China has not implemented an official ban on shipments of urea by fertilizer firms and noted that the domestic supply would remain …
China’s Aug new yuan loans seen rebounding on policy support
China’s new yuan loans are expected to rebound in August after tumbling in July to the lowest since late 2009, a Reuters poll showed, as the central bank seeks to shore up economic growth amid…
After Huawei smartphone leap, Beijing sets sights high for advanced manufacturing in midst of US tech curbs
The new Mate 60 Pro handset may represent the early fruits of China’s self-sufficiency drive, and Beijing hopes such hi-tech devices can be a boon for consumption amid economic malaise.
Joe Biden pushes for bigger World Bank to combat China’s rising influence
Sullivan has insisted the plan to increase the World Bank’s coffers is not “against China”. But he has also said it was “critical” for countries to have alternatives to Beijing’s Belt and Road …
Deflation Woes: Can China Avoid Japanification?
As growth decelerates in China and the economy slips into deflation, there are fears that the country may be heading towards a situation reminiscent of Japan in the early 1990s, a quagmire that could …
No official export ban on urea by China in effect: finance ministry
South Korea’s finance ministry said Friday it has confirmed that China has not implemented an official ban on shipments of urea by fertilizer firms and noted that the domestic supply would remain …
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