In his recent speech at the World Economic Forum, Argentina’s President Javier Milei pointed out that collectivist experiments are never the solution to the problems afflicting the citizens of the world, but are, on the contrary, the cause. Commentator Jin Jian Guo takes a closer look at Milei’s criticisms and assertions.
Economic power
Society
The poor performance of the piano industry has revealed a dying trend of learning how to play the piano in China’s middle class. No longer seen as a gateway into a higher social status, the piano has become a burden given the tough economic situation and the officials’ de-emphasis on piano talent in national examinations. Lianhe Zaobao’s China desk tells us more.
Economy
Lianhe Zaobao correspondent Yang Danxu looks at the outcomes of the Central Economic Work Conference held earlier this week, in particular the call to highlight China’s economic prospects. Amid a still-struggling economy, high-level officials are pulling all the stops to boost the public’s confidence in economic recovery.
Economy
While the narrative of de-risking and reshoring is popular in the media, there is little evidence that firms have left or are leaving China en masse, says China research analyst Chen Long. The decline of FDI could be due to the simple fact that China’s interest rates are now much lower than those in most developed countries, thus making more sense for some foreign firms to move their retained earnings back home. That said, alarm bells should ring in Beijing, as efforts to stabilise foreign investment have yet to succeed.
Economy
Commentator Jin Jian Guo notes that the recent Asia-Pacific Economic Cooperation (APEC) forum was of less interest than the sideline meeting between Chinese President Xi Jinping and US President Joe Biden. 'Open regionalism', previously synonymous with APEC, seems a thing of the past.
Economy
This week, Chinese President Xi Jinping’s visit to Shanghai, China’s largest financial centre, has sent strong signals of the leadership’s emphasis on the country’s economic development. And it is clear from the itinerary the importance the higher-ups are placing on the three areas of finance, technology and livelihood. Nonetheless, Lianhe Zaobao associate editor Han Yong Hong notes more research needs to be done before the introduction of more powerful policies that can turn the tide of the sluggish economy.
Economy
Lianhe Zaobao correspondent Chen Jing notes that as China’s economic and business policies shift and change, foreign companies are finding it difficult to decide whether to stay in China or pull out, given the challenges in meeting new regulations and requirements. But there are others who see opportunities.
Economy
Despite speculations about the decline of China’s economy, Chinese academic Han Heyuan says that history has shown that such contrarian sentiments have been proven wrong time and again, for example in the case of the US, Japan and even China during the turn of the century.
Economy
As China's Belt and Road Initiative marks its tenth year, Japanese academic Shin Kawashima takes a look at how the BRI has progressed, its overall impact on the countries where it has been implemented, as well as the challenges it faces in the road ahead.