With Valentine’s Day just over, The Economist’s tongue-in-cheek Cost of Loving Index reflects the high cost of living in Chinese cities compared with global cities such as New York and Paris. Zaobao’s associate editor Han Yong Hong looks deeper into the spending habits of the Chinese and what it might mean for economic recovery.
Politics
Zaobao’s associate editor Han Yong Hong notes that amid the US’s strong response to the recent incident of a Chinese balloon intruding into US airspace, there are other more pressing issues at hand, whereby the US and China need to communicate and cooperate. Both sides will need to keep their focus and work out their priorities.
Economy
As economic activities pick up in China after the country lifted its strict Covid-19 control measures, foreign businesses are raring to return to the world’s second-largest economy. However, they remain hesitant due to the long time away and geopolitical considerations. Zaobao associate editor Han Yong Hong finds out if China can easily rebuild its economic ties with foreign businesses and the outside world.
Economy
Verbal sparring by Chinese internet opinion makers seem to suggest that the winds are blowing in favour of private firms at the moment. But will officials be able to walk the talk in their quest to use the private sector to drive China’s economic growth?
Politics
Since last month, China and South Korea have been engaged in a tussle of tit for tat when it comes to Covid-19 travel controls. From visa suspensions to “yellow tags” on Chinese travellers entering South Korea, it remains to be seen whether the current back and forth will affect months of China’s diplomatic efforts with South Korea, especially since Yoon Suk-yeol took office.
Society
The ill-prepared nature of China’s opening up has led to a sudden rise in infections. While major cities such as Beijing and Shanghai have seemingly traversed this peak and are showing signs of economic recovery, China as a whole still has some ways to go, especially in addressing the people’s needs. Zaobao associate editor Han Yong Hong tells us more.
Economy
As Chinese officials review the year’s economic work and set the tone for macroeconomic policies in the coming year, Han Yong Hong assesses that the new team formed after the 20th Party Congress will have its work cut out reviving the Chinese economy amid tough challenges.
Society
The Chinese central government has not mentioned the “dynamic zero-Covid” policy as of late, sparking hopes that it will further ease Covid-19 control measures. With public anger boiling over in the form of protests in several cities, more signs of easing are needed. The path to reopening will not be smooth, but Zaobao associate editor Han Yong Hong notes that any form of progress towards normalcy would be reassuring for the Chinese people.
Society
JD.com founder Richard Liu has been in the news lately following an announcement that the company is set to improve social benefits for rank-and-file employees, while cutting salaries for senior management. While it seems to kill many birds with one stone, is this a long term solution for private firms?