Economy

Domestic and external pressures compel China to face the issue of democracy. With growing affluence and diversity in the population, the government needs to find a way to incorporate various views that goes beyond the Mao-era “mass line”. In forging a new path, the Chinese Communist Party is feeling its way around bringing about a socialist neo-democracy, or what has been verbalised as “whole-process people’s democracy”. But what stands in the way of putting thought into action?

Chinese economist David Li Daokui has been mocked by netizens for comments he made at a recent economics forum, where he said that China’s life expectancy has increased by an average of ten days due to pandemic efforts, and suggested setting up quarantine facilities next to factories in order to maintain productivity. But is this derision deserved? Zaobao correspondent Yang Danxu analyses the issue.

The Chinese government has recently announced plans to establish a unified national market that is highly efficient, standardised, open and competitive. It would break down walls, raise the standards of the business environment within China and act as a buffer against external pressures. While the intention is good, NUS academic Lu Xi points to possible drawbacks and challenges.

The US hit all the right notes when it hosted ASEAN leaders in Washington last week. The fact remains, however, that Washington has an uphill climb if it wants to catch up with Beijing’s economic momentum in Southeast Asia. Not only that, Southeast Asian countries understand that in the end, it would be every man for himself.

The swift way that districts and communities were shut down in Shanghai and Beijing is a reminder that the authorities will not hesitate to take drastic steps to stamp out Covid-19, whatever the human cost. Not only that, the end may not be in sight even by the summer of next year.

The seemingly unending lockdown in Shanghai has taken a toll on investor confidence, leading to some entrepreneurs and companies talking about leaving the city. Zaobao’s Shanghai correspondent Chen Jing surveys the short-term reactions and long-term outlook of China's top financial city.

Waves of Covid-19 outbreaks have dealt a big blow to China's economy, with strict anti-epidemic measures affecting businesses, exports and trade. Lockdown uncertainties have also sparked fears of increased competition with foreign manufacturers and a global supply chain restructuring away from China. Caixin surveys the challenges ahead.

Amid a changing global order, Russian academic Artyom Lukin analyses the different ideologies of the US, China and Russia and explains why it would be hasty to lump Russia and China in one camp or to dismiss the similarities between the US and Russia. In the end, the ideology that rules the emerging new world may not even be that of any of the three countries.

Russia has been the largest exporter of arms to Southeast Asia over the past two decades but the value of its defence sales to the region has fallen sharply since its annexation of Crimea in 2014. Russia’s invasion of Ukraine will only exacerbate this downward trend. Not only that, as the war looks set to drag on for months and possibly years, and sanctions increasingly disrupt Russia’s economy, Moscow’s dependence on Beijing may deepen. China will seek quid quo pros, probably including discounted energy imports, increased access to the Russian defence industrial sector’s most sensitive military technology and greater support for its "core interests" in Asia such as Taiwan and the South China Sea.