Economic systems

Chinese President Xi Jinping, along with other leaders, attends the opening ceremony of the Belt and Road Forum (BRF) to mark the tenth anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, on 18 October 2023. (Edgar Su/Reuters)

Ten years of the BRI: Where does it go from here?

Lianhe Zaobao correspondent Yang Danxu notes that after ten years, the BRI has a somewhat mixed report card. Some analysts say that the BRI has helped some countries, while others observe that progress has sometimes come at a cost, ranging from heavy debt to other indirect effects such as corruption and environmental damage.
The Invictus International School campus at Nanshan, Shenzhen announced its shuttering in July. (Photo: Daryl Lim)

Closure of international schools in China due to economic downturn

The current wave of closures among international schools in China can be attributed to factors such as high tuition fees, options in other countries, and falling birth rate. But the biggest factor is undoubtedly financial tightening by parents, in turn due to China’s economic situation. Zaobao journalist Daryl Lim finds out more.
In this picture taken on 30 August 2023, workers assemble a motorbike at the Northstar Precision Vietnam factory in Vinh Phuc province.  (Nhac Nguyen/AFP)

The global south's rare development opportunity as big countries de-risk

EAI academic Chen Gang notes that although the Chinese authorities are against the Western notion of “de-risking”, it has itself taken steps to de-risk, with ASEAN overtaking Europe and the US as China’s largest trade partner. As major countries are gaining ground in their de-risking strategies, the global south is set to benefit.
Li fired back against netizens, stating: “Sometimes you should reflect on yourself to find out why your salary hasn’t gone up after years of work. Have you been working hard enough?” (Internet)

How China's 'lipstick king' lost 63,000 livestream followers overnight

A livestreamer’s comments over the cost of an eyebrow pencil recently brewed a public opinion storm in China. While the incident may be stirred by the livestreamer’s insensitive comments, it speaks to the public’s deeper discontent with the grim economic outlook and employment prospects. Lianhe Zaobao correspondent Chen Jing tells us more.
Alibaba founder Jack Ma visits Hangzhou Yungu School in Hangzhou, Zhejiang province, China in this handout picture released on 27 March 2023. (Hangzhou Yungu School/Handout via Reuters)

Jack Ma has returned but Chinese entrepreneurs will still have a hard time

Jack Ma’s recent return to China has made waves and offers some hope for the revival of the entrepreneur class in China. But this group of people have never shaken off their dual identity as entrepreneur-capitalists. With the rise of a group of diehards romanticising the glory of past eras, entrepreneurs, and in turn the development of China’s market economy, face obstacles.
People walk through an underpass in Beijing on 22 March 2023. (Wang Zhao/AFP)

Will China's economy suffer a 'lost decade' just like Japan?

Pondering the possibility that China’s economy is going the way of Japan's 30 years ago, Japanese researcher Toshiya Tsugami analyses some similarities and differences between the two trajectories.
Container ships at the Port of Oakland on 8 March 2023 in Oakland, California. (Justin Sullivan/AFP)

How US is continuing to restructure globalisation and the global trade system

Commentator Jin Jian Guo assesses that the global trade situation has undergone structural changes, in terms of China gradually losing its status as the world’s factory, amid competition from India and other countries in Southeast Asia. One major reason is the US’s actions in pursuing regional and bilateral free trade agreements that excludes China and have limited China’s trade scope.
A man walks along a street in the central business district in Beijing on 3 February 2023. (Jade Gao/AFP)

How Chinese private firms can be made more confident of the government's support

Academic Pei Sai Fan notes that the Chinese government’s moves to regulate and clean up various sectors in China’s economy has led to private enterprises feeling uncertain about what might happen to them in future, especially as declarations of support for the private sector economy seem to be just lip service.
China's Vice-Premier Liu He addresses the World Economic Forum (WEF), in Davos, Switzerland, 17 January 2023. (Arnd Wiegmann/Reuters)

China can still shine if it acts on Vice-Premier Liu He's Davos advice

At this year’s Davos forum, Chinese Vice-Premier Liu He laid out five points that have led to China’s success so far. However, his session did not see a packed crowd, while China’s claims of sticking to reform and opening up seem less than convincing when taken against its actions. Commentator Jin Jian Guo delves into the importance of staying the course.