Economy

The solution to developing countries’ ballooning debt arising from borrowing to finance Belt and Road Initiative (BRI) and other projects is not to stop the work, as such projects could spur greater economic development and growth, says EAI senior research fellow Yu Hong. Rather, greater transparency and debt sustainability analysis should be applied in relation to BRI debt.

Since the start of this year, hordes of parents have descended on the Chongqing People’s Park matchmaking corner every weekend to find a potential mate for their children. Many parents there lament that the matchmaking corner is like a “hypermarket” where parents try to “outmanoeuvre” each other. Lianhe Zaobao correspondent Edwin Ong believes that it is also a microcosm of the socioeconomic divide in China.

China’s ride-hailing market has seen exponential growth this year, which some attribute to the recovery of economic activity. However, others believe that the increase in ride-hailing drivers reflects increased unemployment. Lianhe Zaobao journalist Daryl Lim looks into the potential oversaturation and different factors impacting the market.

Today, China faces almost the same set of problems that the capitalist states are struggling with. In a post-capitalist world where an entire demographic degenerate into the “useless class”, capitalism will lose the market on which it depends. EAI senior research fellow Lance Gore imagines what this could mean for the Chinese Communist Party and other advocates of the socialist path.

Nearly 20 senior executives and officials from the government-controlled China National Tobacco Corporation (China Tobacco) and the regulator, State Tobacco Monopoly Administration, have been caught up in the anti-graft investigation since 2021. Huge profits and the vertical management structure have made the tobacco industry a breeding ground for corruption.

Hong Kong youths are getting a lot of support from the HK government as well as local governments from the Greater Bay Area (GBA) to develop their entrepreneurial potential in the GBA. While it means more opportunities for HK youths to pursue their entrepreneurial dreams, starting a business in an unfamiliar turf is no child's play. Lianhe Zaobao journalist Tai Hing Shing reports from the GBA.

The Greater Bay Area remains China’s manufacturing vanguard with great potential, despite the hard knocks weathered by the tech and fintech firms in the area. Be that as it may, greater centralised technological leadership is a double-edged sword, say Hong Kong analysts Naubahar Sharif and Wendy Weng.

Voices discussing the expansion of the BRICS are getting louder, leading up to the meeting of BRICS foreign ministers to be held this week in Cape Town. While China sees possible expansion of the BRICS as a useful development in growing its influence, other members of BRICS like India may view it with mixed feelings. ISAS academic Amitendu Palit explains.

Since the pandemic has subsided, local Chinese governments have been sending trade delegations out in full force to attract investments in a bid to revive the economy. However, this strategy is now deemed as flawed and short-sighted, as the local governments are not seeing the gains they are hoping for. Lianhe Zaobao correspondent Liu Yang looks into how going all-out to attract investments is doing more harm than good.