Economic power

In a recent poll conducted by Malaysia’s Merdeka Center and the Institute of China Studies at the University of Malaya, public perception of China seems to have improved slightly from the last time a similar survey was done in 2016. That said, opinions are divided among ethnic groups and hinge on a few deciding factors.

Three of China’s major airlines have announced plans to purchase about 300 aircrafts from Europe’s Airbus, much to the chagrin of the US’s Boeing. Zaobao correspondent Yu Zeyuan discusses the reasons behind the move and what this might portend.

While virtual meetings between Xi Jinping and Joe Biden have usually followed in-person meetings between the countries’ top diplomats, there is no sign of a virtual summit taking place any time soon after China's Yang Jiechi and US national security adviser Jake Sullivan met in Luxembourg. For the US, internal disagreement over trade tariff issues could be causing the pause. And in the case of China, it has already let go of any false hope for better ties.

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.

Since the Cold War, one of the most common methods used by the US to reprimand “authoritarian” or “irresponsible” countries is to impose economic sanctions. However, the economic sanctions imposed on North Korea, Iran and Russia over the past decades have not seemed to work, nor have any of these countries given in to the US. Japan-based academic Zhang Yun analyses why sanctions have lost their hold on these countries, and why the US is still keen to use them as a coercion tool.

Analysts predict that China will overtake the US as the world’s leading economy in the next decade, but external military conflicts and internal struggles could thwart the Asian giant's ambitions. Political commentator Zhou Nongjian has the details.

While China’s economy grew about 8% in 2021, the GDP growth target for this year is expected to be a more modest “above 5%”, taking into consideration various easing measures by the central bank and political considerations heading into the 20th Party Congress in autumn this year. Zaobao’s associate editor Han Yong Hong gives her assessment.

A Chinese idiom says: If you ride a tiger, it’s hard to get off! Since being handed the reins by the Communist Party of China a decade ago, Xi Jinping hasn’t experienced “the year of the tiger” according to the Chinese zodiac. He will be riding into the tiger year this crucial year of 2022. Speculations are running high in China as everyone is asking: does Xi know how to get off a tiger?

Local governments in China are facing a problem of not having enough in their coffers, leading to various measures such as a hiring freeze in Hegang city. Corruption also remains a problem, with some officials using their authority and influence to line their own pockets. Zaobao correspondent Yang Danxu notes that there is a danger of such debt issues becoming a risk to social stability.