Economy

An aerial view of shipping containers stacked at a port in Lianyungang, in eastern China's Jiangsu province on 12 January 2024. (AFP)

Does China still need the CPTPP?

Academic Jianyong Yue notes that despite China’s seeming eagerness to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), doing so may in fact hinder it from realising its full potential, given the strict regulations of the group. Perhaps it might be better for China to focus on developing its domestic market and turning into a strong consumption power capable of supporting its industrial upgrading and economic transformation.
The logo of Tencent is seen at a Tencent office in Shanghai, China, on 13 December 2021. (Aly Song/Reuters)

China’s gaming industry takes a hit amid challenging outlook

The proposal of new gaming regulations in China have sent shockwaves through the industry, with the top gaming company Tencent seeing its market value drop dramatically. Lianhe Zaobao senior correspondent Chew Boon Leong takes a look at the challenges facing the industry.
Sun Weidong has lived in the US for over 30 years, but more than half of that time on the streets of New York. (Screen grab from video)

American dream shattered: Chinese drifter with doctoral degree stirs debate in China

Recent news reports featured a Chinese man who slept on the streets of New York, who turned out to be a doctoral degree holder educated in Fudan University and the US. The story of how he did not return to China after getting a scholarship and became a US citizen but ultimately ended up on the streets drew reactions from the Chinese, who questioned why China should take him back.
Climate activists protest after a draft of a negotiation deal was released, at the United Nations Climate Change Conference COP28 in Dubai, United Arab Emirates, on 13 December 2023. (Rula Rouhana/Reuters)

China has reasons to smile about the COP28 climate summit

Erik Baark takes stock of China’s gains at COP28 in Dubai in December 2023. The status of China in the negotiations was clearly enhanced by the compromise achieved by the US and China with the Sunnylands Statement in November 2023. On the difficult matter of establishing an international consensus on the approach to fossil fuels, China also seems to have found room to manoeuvre in the call for countries to commit to “transitioning away from fossil fuels in energy systems”.
People ride past a campaign ad for William Lai Ching-te, Taiwan's vice-president and the ruling Democratic Progressive Party's (DPP) presidential candidate and Justin Wu, local parliament member candidate for the ruling DPP ahead of the election in Taipei, Taiwan, on 12 January 2024. (Ann Wang/Reuters)

Taiwan presidential election: A dull but important affair

With the Taiwan presidential election nearing its climactic end, Lianhe Zaobao associate editor Han Yong Hong notes there has been nothing fresh with election rhetoric, leading to a dull affair. Nonetheless, the election carries a lot of weight given its potential impact on cross-strait and China-US relations.
Motorists and cyclists on the Bund in Shanghai, China, on 9 January 2024. (Qilai Shen/Bloomberg)

[Big read] When will the Chinese stock market thrive again?

Even with the efforts of the Chinese government to revitalise the stock market, investors and shareholders seem to be unconvinced and hesitant in putting in funding, which in turn is not helping the market to recover as fast as would be hoped. What else can be done to bring back the good days?
Supporters of Islami Andolan Bangladesh party attend a protest rally demanding to abolish what they call a "dummy election" and to reorganise a free and fair election under the caretaker government, in Dhaka, Bangladesh, on 9 January 2024. (Mohammad Ponir Hossain/Reuters)

China and India unfazed by Bangladesh's one-sided elections

Bangladesh’s ruling government led by Prime Minister Sheikh Hasina was easily returned to power on 7 January. While the US has often criticised Bangladesh's elections as not being free and fair, its close neighbours China and India seem prepared to focus on Bangladesh’s strategic value in increasing their regional influence.
Pedestrians in Xiamen, China, on 5 January 2024. (Raul Ariano/Bloomberg)

How will de-risking impact China’s economic fortunes in 2024?

Academic Naoise McDonagh assesses the headwinds in store for China in 2024, as the US and Europe ratchet up their de-risking efforts. It is clear that Brussels and Washington are also trying to calculate the costs they are willing to absorb in the new world of weaponised trade, meaning all sides will have to dance carefully to the tune of de-risking in the year to come.
Four thousand US dollars are counted out by a banker counting currency at a bank in Westminster, Colorado, 3 November 2009. (Reuters/Rick Wilking)

Could de-dollarisation develop into an irreversible historical trend?

Zhang Yugui, dean of the School of Economics and Finance at the Shanghai International Studies University, notes that while the renminbi has gained traction as a global currency for trade settlements, investment and as a reserve currency, the US dollar will still maintain its hegemony until 2030. However, the US is most worried that de-dollarisation could develop into an irreversible historical trend.