Financial Crisis
Economy
The rise and fall of China’s ‘fentanyl king’ in corruption-fuelled bankruptcy
Once hailed as China’s “fentanyl king”, Ai Luming built a pharmaceutical empire from humble beginnings, only to see it unravel in a web of debt, failed financial bets and corruption scandals. Ai’s dramatic rise and fall expose the risks and realities facing China’s private sector in an era of tightening regulation and shifting fortunes.
Caixin Global
04 Jul 2025
Economy
China’s BRI problem: From builder to debt collector
China has embarked on very rapid and massive overseas lending since 2013, when it launched the Belt and Road Initiative (BRI). But it has now become the world’s largest debt collector for developing countries’ debt repayments. EAI senior research fellow Yu Hong assesses whether China’s shifting role in global lending will undercut the BRI.
Yu Hong
24 Jun 2025
Economy
How can China deal with deflationary pressure?
Although the Chinese economy showed some signs of recovery in 2023, prices have not improved in tandem, with key economic indicators signalling a persistent decline. This has served to deepen fears of deflation and sparked calls for more supportive policy measures.
Caixin Global
26 Jan 2024
Economy
Could de-dollarisation develop into an irreversible historical trend?
Zhang Yugui, dean of the School of Economics and Finance at the Shanghai International Studies University, notes that while the renminbi has gained traction as a global currency for trade settlements, investment and as a reserve currency, the US dollar will still maintain its hegemony until 2030. However, the US is most worried that de-dollarisation could develop into an irreversible historical trend.
Zhang Yugui
10 Jan 2024
Economy
China's economic crisis is a ticking time bomb
Taiwanese commentator Chen Kuohsiang believes that China's economy is under threat, with the unravelling of intertwining issues in the financial industry, property sector and government finances that cannot be easily resolved. How will China boost its investment-led economy, push down unemployment rates, and regain consumer and investor confidence?
Chen Kuohsiang
02 Aug 2022
Economy
Chinese homebuyers are refusing to pay their mortgages: Is there a way out?
Homebuyers refusing to continue repaying their loans following stalled projects by developers has gained attention in China, with the government calling on banks to extend loans for these ailing real estate companies. Will this lead to a spillover effect that will ultimately damage China's financial system and economic stability? Zaobao correspondent Yang Danxu tells us more.
Yang Danxu
20 Jul 2022
Economy
Can a sliding Japanese yen survive the Fed's interest rate hike?
The Japanese yen has been on a prolonged decline and is unlikely to see an upside given the Japanese central bank's persistence with its ultra-loose monetary policy. As a result, Japan's trade balance is worsening and the Japanese people are feeling the crunch as energy and consumer goods prices soar. Chinese academic Zang Shijun believes that the Japanese currency will face even more pressure of rapid depreciation as the US Federal Reserve raises interest rates.
Zang Shijun
06 May 2022
Economy
Salvaging China's economy: Economic growth is meaningless if the society is ruined
Professor Zheng Yongnian recognises that the economic impact of the coronavirus will be deep. Beyond thinking about whether short-term cash payouts should be given, he mulls over measures that can see China through protracted headwinds. Key is the political will needed to move the country's strategies away from GDPism, or an obsession with GDP, to those of building social safeguards as the country strives to build a sustainable economy.
Zheng Yongnian
27 Apr 2020
Economy
China's yet-to-be-announced stimulus package: Dispensing the right dose
In the aftermath of the 2008 Global Financial Crisis, China trotted out a mega stimulus package that some analysts say did more harm than good. Months into the coronavirus pandemic and China's support measures have still been measured. How much further will it go in the coming weeks to alleviate the economic strain on enterprises and individuals?
Chen Jing
24 Apr 2020