Economy

A man wearing a face mask walks past an estate agent in Guangzhou's Sanyuanli area, in Guangdong province, China, 13 April 2020. (David Kirton/File Photo/Reuters)

Bartering garlic for homes: China’s uphill fight to revive the real estate market

To revive China’s property market, local governments in some cities have implemented a slew of changes to ease property restrictions, with some even allowing the use of crops as a down payment for a home. However, these policies present many risks to the market. Chinese academic Yi Xianrong believes that a return to a consumption-led market is the only viable way to lower the risk in China’s property market.
A view of Singapore's central business district, 25 June 2022. (SPH Media)

China’s Big Tech firms drive talent war in Singapore

China’s tech titans have sparked a talent war in Singapore with their offers of high salaries, flexible work arrangements, and professional development opportunities. Zaobao journalist Liu Liu explains in this third of a seven-part Lianhe Zaobao-Business Times series on China and ASEAN.
Pedestrians pass fencing surrounding a residential neighborhood placed under lockdown due to Covid-19 in Shanghai, China, on 6 July 2022. (Qilai Shen/Bloomberg)

Japanese researcher: China's zero-Covid policy and prospects for the Chinese economy

The impact of the Shanghai lockdown is far-reaching, not least the way it is weakening Chinese exports and consumption, which have helped China weather the economic storm thus far, says Japanese researcher Toshiya Tsugami. This is having ripple effects on global supply chains and may further debilitate them before they have a chance to normalise. To stave off a severe economic crisis, China must deal with three pressing issues.
People walk by the New York Stock Exchange at the start of the trading day on 3 June 2022 in New York City. (Spencer Platt/Getty Images/AFP)

Could the end of the China-US trade war be near?

With the latest virtual call between Chinese Vice-Premier Liu He and US Treasury Secretary Janet Yellen, observers are anticipating that the US will lift the Trump-era punitive tariffs on China and de-escalate the four-year-long China-US trade war that has hurt both economies. Zaobao correspondent Yang Danxu looks at how the situation might develop and how Biden might play his cards.
A screen shows a CCTV state media news broadcast of Chinese President Xi Jinping, addressing the BRICS Business Forum via video link, at a shopping center in Beijing, China, 23 June 2022. (Thomas Peter/Reuters)

Can the BRICS reinvent itself?

In an age where any global economic agenda is hardly viewed outside the prism of geopolitics, it would take enormous resolve for BRICS to make an impactful comeback on the global stage, says ISAS academic Amitendu Palit.
A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, US, 31 March 2017. (Randall Hill/Reuters)

Boeing losing out amid strained China-US trade relations

Three of China’s major airlines have announced plans to purchase about 300 aircrafts from Europe’s Airbus, much to the chagrin of the US’s Boeing. Zaobao correspondent Yu Zeyuan discusses the reasons behind the move and what this might portend.
This photo taken on 22 September 2021 shows fishermen on their boat as smoke rises from chimneys at the Suralaya coal power plant in Cilegon. (Ronald Siagian/AFP)

In Indonesia, Chinese financing for coal-fired power plants grows faster than that for renewables

On the one hand, China’s potential in helping Indonesia make the clean energy transition has been spoken about, but on the other, China continues to be a big player in perpetuating non-renewable energy use such as in coal-fired power plants. Looking ahead, can they be a larger contributor in Indonesia’s efforts to derive 23% of Indonesia’s primary energy needs from renewable sources by 2025? Malaysian academics Guanie Lim and Goh Chun Seng tell us more.
Shoppers on a pedestrian street in Shanghai, China, on 18 June 2022. (Qilai Shen/Bloomberg)

China needs to rethink its regulations and governance of the platform economy

Over the past year, the Chinese government has taken strong action against monopolistic practices in the platform economy. However, with the effects of the pandemic, the economy needs a boost and the platform economy seems to be the way to lift it. Chinese academic Yi Xianrong says that to truly harness the strengths of the platform economy, the authorities need to see that it is a totally different entity from the traditional economic sectors and its governance needs some deep thinking.
A woman holds US dollar banknotes in this illustration taken 30 May 2022. (Dado Ruvic/Illustration/Reuters)

Quit the dollar: Can Asia build its own digital currency and digital payment infrastructure?

Calls for de-dollarisation have increased since the financial sanctions of the Ukraine war and the very real threat of the US dollar being weaponised. In this context, academic Pei Sai Fan explains why conditions are ripe for China and Asia to offer innovative alternatives, such as developing regional digital currency cooperation in the payment and settlement of regional trade and investment, and expediting the development of new cross-border digital payment infrastructure in Asia known as multi-CBDC platform projects.