Economic systems

A pedestrian walks at Central Business District (CBD) in Beijing on 16 January 2023. (Wang Zhao/AFP)

Politics a threat to China’s economy

Political commentator Jin Jian Guo observes that China economic policy has always been ruled by politics, and while it seems that the pendulum is swinging back in favour of private firms after a period of bashing and stifling, this is not a given as the politics of the day still rules.
This photo taken on 3 January 2023 shows a crane loading a container at Nanjing port in China's eastern Jiangsu province. (AFP)

Future world: A rising Asia and a polarised global economy

Commentator Chen Kuohsiang notes that the US’s efforts to counter China is the main driving force behind the redrawing of the global economic map. However, as the US is the sole beneficiary while most of the other countries have supported the US’s cause to their own detriment, conflicts of interests will gradually emerge. In the end, the global economy may polarise into various camps with disjointed supply chains.
A woman walks across the street during morning rush hour, following the outbreak of the coronavirus disease (COVID-19), in the Central Business District (CBD) in Chaoyang District, Beijing, China, 21 November 2022. (Tingshu Wang/Reuters)

Why the 20th Party Congress was not a 'decisive victory' for Xi

Japanese researcher Toshiya Tsugami observes that the exuberant tone of China's previous Party Congress reports has been carried over in this year’s 20th Party Congress. However, the external environment has changed much for China and its targets could be a stretch in this context.
This illustration shows Chinese yuan banknotes, 30 May 2022. (Dado Ruvic/Reuters)

China's efforts to internationalise RMB gaining a foothold in SEA

NUS academic Xu Le explains why China's project to internationalise the RMB still has much room to grow. In that regard, the ASEAN countries could play a role, given their desire to be less reliant on the US dollar.
People at a subway station in Singapore, 12 October 2022. (SPH Media)

Singapore and Hong Kong: Collaborators, not competitors

Professor Bernard Yeung of NUS says one should not take reports of Singapore overtaking Hong Kong in a set of global financial centre rankings at face value. Pendulum swings in politics and economics will drive future movements, and it may be most productive to think of how the two most important financial centres in Asia can work together to serve the economies of East and West.
Chinese flags along a street in Beijing on 12 October 2022, ahead of the 20th Communist Party Congress meeting. (Wang Zhao/AFP)

Ten years of political intervention: China’s economy at a crossroads

With the 20th Party Congress just days away, Zaobao correspondent Chen Jing looks at the government’s economic policies and actions over the past decade, including its cleanup of the technology and education sectors, and pandemic lockdowns. How has the party responded, and what impact has there been on the people?
Pedestrians in the Pudong's Lujiazui Financial District in Shanghai, China, on 10 October 2022. (Qilai Shen/Bloomberg)

Large population no longer an asset to China's long-term growth

Chinese academic Han Heyuan notes that while China is claiming that its economic growth outlook remains healthy, the signs are there that changes to its population would also mean changes to its economic growth. Other factors such as dependence on overseas markets would also come into play.
A farmer picks ears of rice left over by a paddy harvester as the region experiences a drought outside Jiujiang city, Jiangxi province, China, 27 August 2022. (Thomas Peter/Reuters)

Chinese netizens debate: Should China abandon the market economy for a ‘people-oriented’ economy?

Chinese agricultural economist Wen Tiejun has landed in hot water after proposing the concept of a “people-oriented” economy. Critics believe that this is moving away from China’s reform and opening up, while others see the benefits towards common prosperity. Zaobao correspondent Yu Zeyuan tells us more about the maelstrom of controversy ahead of the 20th Party Congress.
Visitors are seen silhouetted against a Chinese Communist Party flag displayed at the Museum of the Communist Party of China in Beijing, China, 3 September 2022. (Florence Lo/Reuters)

China's far-left narratives are leading the country into a dead end

Commentator Lew Mon-hung notes that recent public opinion in China has been advocating a closed-door policy, sharply diverting away from the national policy of reform and opening up taken in 1978. Will China change course and reverse its decades-long process?