Tag: Economy

WASHINGTON —  China brought a large delegation to this year’s World Economic Forum in Davos to try to convince the world that the globe’s second-largest economy is still open for business and a reliable place to invest. But analysts say Premier Li Qiang’s speech on Tuesday was short on specifics that might have reassured investors. Li led a delegation of 140 people to this week’s five-day meeting of global political and business leaders. China brought as many as 10 ministerial-level officials related to China’s economic affairs, according to the U.S.…

Taipei, Taiwan —  For 61-year-old atemoya farmer Tsou Yun-shing in Taiwan’s Taitung County, the last two years have been a tough time for his business. Since China banned the import of atemoyas from Taiwan in September 2021, his revenues have been slashed in half and he has had to look for alternative markets. “Before the ban, around 80 to 90% of my atemoyas were sold to China. But since they banned the import of Taiwanese atemoyas, I have to start selling my atemoyas through different sales channels in Taiwan, hoping…

washington —  Multinational corporations in China are facing a dilemma in 2024: Stay, or walk away because of the growing risks of doing business there? Beijing’s increased scrutiny of Western firms over the past year alarmed international investors at a time of growing tensions between the United States and China. “De-risking” became the byword for wary enterprises. Anna Ashton, director of the China corporate affairs program at the Eurasia Group, a global political risk consulting firm, told VOA Mandarin in a phone interview, “National security concerns tied to the changing…

Taipei, Taiwan —  A growing number of home buyers in China have seen their dream of moving into new homes dashed in the past year after a slew of bankrupt developers left behind millions of unfinished pre-sold properties. Many of the buyers could do nothing but vent their anger and frustration on Chinese social media platforms such as Douyin, known internationally as TikTok, over what they called “rotting apartments” that represented their lifetime savings. Police are cracking down on protests. The crisis of confidence in a sector that was once…

Beijing —  China will step up policy adjustments to support an economic recovery in 2024, state media said on Tuesday, following an agenda-setting meeting of the country’s top leaders. Investors are closely watching for clues on next year’s policy and reform agenda as Beijing has been struggling to spur a post-pandemic economic recovery amid a deepening housing crisis and mounting local government debt. China will focus on boosting effective demand next year, and make concerted efforts to spur domestic demand, state media said, citing the annual Central Economic Work Conference…

Ratings agency Moody’s cut its outlook on China’s government credit ratings to negative from stable on Tuesday, in the latest sign of mounting global concern over the impact of surging local government debt and a deepening property crisis on the world’s second-largest economy. The downgrade reflects growing evidence that authorities will have to provide more financial support for debt-laden local governments and state firms, posing broad risks to China’s fiscal, economic and institutional strength, Moody’s said in a statement. “The outlook change also reflects the increased risks related to structurally…

BANGKOK —  Shares were mostly lower in Asia on Thursday after a modest advance on Wall Street that kept the market on track for a fourth straight weekly gain. Markets in Japan and the United States are closed Thursday for holidays. Oil prices fell about $1 a barrel after OPEC postponed until next week a meeting to discuss production cuts. The oil cartel has been maintaining a tight market for crude oil with production cuts. It is expected to extend those cuts after oil prices have fallen after a spike…