Economy

Workers check an electronic system at the Tegalluar station of the China-made high speed railway connecting the capital city of Jakarta with Bandung, in Bandung, West Java on 15 May 2023. (Timur Matahari/AFP)

Why China's BRI is not a debt trap

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.
The matchmaking corner at Chongqing People's Park, China. (SPH/Edwin Ong)

Desperate parents gather in China's latest matchmaking park for the sake of their kids

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.
People on scooters wait in evening rush-hour traffic in the central business district on a day with heavy pollution in Beijing, China, 10 March 2023. (Thomas Peter/Reuters)

More ride-hailing drivers may not be a good sign for Chinese economy

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.
People walk past a screen showing a Chinese national flag at a shopping mall in Beijing, China, on 26 May 2023. (Jade Gao/AFP)

The utopian post-capitalist world we can create with AI

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.
Two men riding an electric scooter smoke cigarette as they wait to cross a street in Beijing, China, on 12 May 2023. (Wang Zhao/AFP)

China’s tobacco monopoly is swept up in corruption probes

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.
A person poses for a photo against the backdrop of the financial Central district and Victoria Harbour in Hong Kong, China, 9 May 2023. (Reuters/Tyrone Siu)

Hong Kong youths head to mainland China's GBA to realise entrepreneur dreams

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.
Visitors at the 13th China Processing Trade Products Fair (CPTPF) in Dongguan, Guangdong, 10 May 2023. (CNS)

Is the Greater Bay Area still China's answer to Silicon Valley?

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.
A woman shelters from the sun with an umbrella during a hot summer day in Chennai, India, on 16 May 2023. (R. Satish Babu/AFP)

Expanding the BRICS: New challenges for the embattled world order

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.
A staff member attends to visitors at a kettle retailer at the China Import and Export Fair, also known as Canton Fair, in Guangzhou, Guangdong province, China, 16 April 2023. (Ellen Zhang/Reuters)

Local governments' tussles for investments chided by Chinese state media

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.