Tag: Economy

PHNOM PENH, CAMBODIA —  In Cambodia’s capital of Phnom Penh, 62-year-old produce seller Sok Ul is sanguine, despite the threat that a Belt and Road project could uproot him from his neighborhood. Construction will soon begin on a $60 million bridge that spans two of the city’s bustling southern sections along the Tonle Sap river, and Sok Ul’s modest vegetable farm may need to go. “I am happy to see a bridge to ease traffic congestion,” he said, speaking with VOA’s Khmer Service from his roadside stall, where he sells…

Taipei, Taiwan —  Since China’s launch of the Belt and Road Initiative 10 years ago, trade with Southeast Asian nations has more than doubled. Beijing has poured billions into helping build rails, airports, ports, and other infrastructure, but the push for more connectivity comes with unintended consequences observers said. Some key concerns include rising debt, the environmental impact of projects, and an increase in crime said analysts in the region who spoke to VOA’s Mandarin Service. According to the U.K.-based International Institute for Strategic Studies, between 2013 and 2021, Southeast…

The future of a $100 billion development on Malaysia’s coast is in doubt due to growing concerns over the financial stability of its largest backer, China’s Country Garden. The property giant has reported billions of dollars in losses — but insists that its showpiece Forest City project in Malaysia is safe. Adam Hancock has this story from Johor, Malaysia. Camera — Wen Yi Chen. Voice of America

BEIJING —  China’s factory activity in September recorded its first expansion in six months, an official survey said Saturday, providing another sign that the world’s second-largest economy is gradually improving after its post-pandemic malaise. According to the government statistics bureau and an official industry group, the monthly purchasing managers’ index rose to 50.2 this month from 49.7 in August measured on a 100-point scale. Numbers above 50 indicate activity is increasing. Measures of production, new orders and employment all rose from August, the National Bureau of Statistics and the China…

BANGKOK —  At sunset, Bangkok’s Huai Khwang district comes alive with Chinese-speaking pedestrians bustling to their favorite hot pot restaurants among the many lining Pracharat Bamphen Road. The hungry parade is just one indication of how an influx of Chinese residents is transforming the 15-square-kilometer (5.8-square-mile) neighborhood in the city’s eastern reaches, with new arrivals restoring the pre-pandemic inflow. With the Chinese Embassy in nearby Din Daeng exerting a magnet-like force for Huai Khwang, local Thais now call the area “New Chinatown.” Some refer to it as a special administration…

Hong Kong —  The chairman of China Evergrande Group has been placed under police surveillance, Bloomberg News reported on Wednesday, raising more doubts about the embattled developer’s future as it grapples with the mounting threat of liquidation. FILE – Hui Ka Yan, chairman of Evergrande Real Estate Group Ltd,, attends a news conference in Hong Kong, China on March 29, 2016. Citing people with knowledge of the matter, the report said Hui Ka Yan, who founded Evergrande in 1996 in the southern city of Guangzhou, was taken away by police…

Washington —  After a strict COVID-19 lockdown that shattered its tourism industry between 2020 and 2022, China is trying to revive the market by making it easier for foreigners to visit the country. Under a new set of visa application requirements announced this week, applicants only must report one year of travel history instead of five years, as previously required. “The improvement involves seven major items and 15 sub-items, concerning mainly the applicants’ educational background, family information and previous travel history,” said Mao Ning, a spokesperson for China’s foreign ministry,…