Economy

With the economic and political blowback from its regulatory crackdowns in the past two years, coupled with economic pressures from the pandemic, the Chinese authorities may be ready to ease up on high-pressure regulations of the internet sector.

Amid US-China tensions, mainland China companies blacklisted by the US are expected to expand their presence in Hong Kong. While it may seem that the special autonomous region will reap the benefits, NUS academic Ben Charoenwong says investors are in fact wary of the costs involved and may look to other financial hubs like Singapore. But is Singapore ready to fill that role?

The RMB's recent dramatic weakening did not come as a surprise to many. As stringent Covid-19 measures gradually ease, along with possible relaxations of policies in the real estate sector, could the worst be over for China's economy?

ISAS academic Chulanee Attanayake explains the bind China is in with regards to the Sri Lanka economic and political crisis. On the one hand, China does not want to set a precedent for bailing out cash-strapped partners, but it also needs to maintain its carefully built image as an unwavering friend to small developing nations.

On 25 May, Chinese Premier Li Keqiang chaired a teleconference on China’s economy with 100,000 attendees. The sheer scale of the meeting and rhetoric used indicates a sense of urgency. The government is keen to convey that it is well aware that the Chinese economy is faring worse than in 2020 when the pandemic first hit and that it has all hands on deck.

With inflation reaching historic highs, the Biden administration is facing a challenging road ahead of the midterm elections in November. The lifting of some tariffs on China could ease inflation in the US and appease voters, bringing an end to the China-US trade war. However, views in the White House are mixed. Zaobao correspondent Edwin Ong speaks with academics to find out more.

It appears that Beijing is losing some of its factory orders with MNCs and investors putting their bets on Vietnam. But maybe it is a win-win situation: as China moves to transition its economy to advanced manufacturing, countries like Vietnam with a young and relatively cheap labour force could fill the gap.

Even as the Chinese authorities continue to battle the spread of Covid-19, one thing is bugging people: why does it seem like nobody cares about the economy? China’s latest economic figures do not look good, and the protracted lockdown in Shanghai and semi-lockdowns in Beijing are not helping people’s livelihoods. Zaobao correspondent Yu Zeyuan examines the cost of zero-Covid.

The Chinese government has recently announced plans to establish a unified national market that is highly efficient, standardised, open and competitive. It would break down walls, raise the standards of the business environment within China and act as a buffer against external pressures. While the intention is good, NUS academic Lu Xi points to possible drawbacks and challenges.