Economic systems

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 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.

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.

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.

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.

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.

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.

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.

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.