Economy

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.
Chinese drugmakers are increasingly partnering with foreign companies to pitch their products overseas, but at what cost? (Srdjan Zivulovic/Reuters)

Cancelled contracts upset Chinese drugmakers’ overseas push

China’s innovative drug developers are increasingly partnering with foreign companies to pitch their products overseas due to tighter profit margins in the domestic market. But this route, while lucrative, can also be precarious.
A woman shops for frozen items at a supermarket in Beijing on 13 August 2023. (Pedro Pardo/AFP)

Why China’s consumers are boycotting pre-made meals in restaurants and school canteens

While China’s pre-made meals are quick and convenient for eateries to provide to general consumers, there has been a recent controversy over bringing them into schools. There is also concern over the ingredients used and what goes into the meal. Given the current lack of regulation in pre-made meals, how will the authorities handle the rapidly growing industry?
People ride a small train for children on a street in Guangzhou, Guangdong province, China on 16 September 2023. (Hector Retamal/AFP)

Why China’s population policies always veer towards the extreme

China’s population policies have had a tendency to veer towards the extreme since the era of Mao, says commentator Yu Shiyu. A delayed response to adjusting the one-child policy, which has resulted in a declining population and is expected to have an adverse economic impact, demonstrates the inefficiency of an authoritarian system in self-correcting. Its decision making could also swing between extremes as it is based on subjective top-level thinking.
An office building in the Guomao area in Beijing. (Photo: Meng Dandan)

Vacancy at an all-time high as companies move out of Beijing’s prime office space

Despite the lifting of Covid-19 restrictions, the office vacancy rate in China’s capital Beijing has not recovered, and is set to increase. From considerations such as rental cost and traffic, internet companies are opting to move out of prime central locations. Lianhe Zaobao journalist Meng Dandan tells us more.
People at a shopping mall in Beijing's central business district, China, on 7 September 2023. (Tingshu Wang/Reuters)

Is China’s development losing steam?

The world is concerned that the Chinese people are beginning to lose confidence in China’s future, dampening the prospects for sustainable development. Researcher Wei Da believes that there is little connection between this crisis of confidence and the cyclical boom and bust of the economy, but China’s severe economic problems are ultimately political problems.
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.
Members of the Muslim community protest against a government plan to develop the Rempang Island into a Chinese-funded economic zone that would displace around 7,500 people, near the Presidential Palace in Bogor on 24 September 2023. (Aditya Aji/AFP)

Why has Batam’s Rempang Eco-City national project become a controversy?

Unhappiness among villagers in Rempang, close to Batam island, has led to riots in Batam City and threatens existing and future foreign investment. A small but diminishing window exists in which the local and central governments can improve their approach towards convincing residents of the need to relocate for a better future.
Containers at the Nanshagang area in Guangzhou port, 18 September 2023. (CNS)

Will the BRI's future be impacted by the slowing Chinese economy?

Japanese academic Toshiya Tsugami notes that while China's economy is likely to fall into medium- to long-term stagnation, its outward investments and financing through the Belt and Road Initiative may not be immediately affected. However, other factors may have a ripple effect on China's ability to maintain the momentum of the BRI.