Economic recovery

People wearing face masks as a preventive measure against the Covid-19 coronavirus commute during rush hour in Beijing on 15 October 2020. (Nicolas Asfouri/AFP)

Why only China will maintain positive growth this year

Chinese financial commentator Tan Haojun looks at what China has done right to quickly recover after the pandemic, and what makes international financial institutions and analysts confident about its economy.
People work in a rice field of Runguo Agriculture Development Company during a media tour organised by the local government in Zhenjiang, in China's eastern Jiangsu province on 13 October 2020. (Hector Retamal/AFP)

Pandemic, floods, locusts and shrinking farming population: Will China suffer a food crisis?

China feeds about 20% of the global population, but its overall self-sufficiency in food seems to be dropping. Even though it is self-sufficient in some staples such as wheat, rice and corn, it is less so in others. In fact, it is the largest importer of food in the world. Recent calls by President Xi Jinping to cut food wastage has people thinking that political reasons aside, China’s food supply is at risk. This risk could yet be amplified by changes in land policies, rural-urban migration and more.
Customers wait in line outside a Shake Shack Inc. restaurant in Beijing, China on 20 September 2020. (Yan Cong/Bloomberg)

Is it possible to decouple from the world's biggest market and factory?

Despite US efforts to reduce reliance on China and decouple from it, the process will not be easy, given China’s enormous economic influence. Even with countries such as Vietnam trying to take China’s place as the “world’s factory”, their capacity is limited. However, this does not mean that China’s position is assured, as other countries are noticing China’s penchant for using its economic might as a bargaining chip.
Elementary school students in Wuhan decked out in their performance outfits.

I found no trace of the pandemic in Wuhan, but is that how the China story should be told?

On an organised visit to Wuhan with other journalists and business representatives, Lianhe Zaobao’s Shanghai correspondent Chen Jing sees a city that appears to be humming away as if the Covid-19 disaster was nothing but a bad dream. Nevertheless, she gets an inkling that many stories of the pandemic are still waiting to be told. She resolves to tell them, all in good time.
A vendor holding up a Donald Trump latex mask that she sells.

Who will win the US election? Chinese vendors at ‘the world’s supermarket’ think they have the answer

Four years ago, when most political pundits put their money on Hillary Clinton instead of Donald Trump, vendors in the Yiwu International Trade Market in Zhejiang province already knew that Trump would win. Orders of presidential election merchandise gave them the clue. Termed “the world’s supermarket”, Yiwu is the world’s biggest wholesale market of small commodities. How is it seeking to reinvent itself in the pandemic downturn, and what does this year’s orders list tell them about the likely outcome of the 2020 US presidential election?
People are reflected in a puddle after a rainfall as they walk along a shopping district in Beijing on 18 August 2020. (Noel Celis/AFP)

Will China's inward economic shift lead to a closed society?

Chinese President Xi Jinping has recently emphasised the concept of “domestic circulation”, or focusing on domestic markets. But while this might prompt concern that China’s economy may be shut off from the rest of the world, given current circumstances, this is unlikely. What China needs to guard against though, says Zaobao associate editor Han Yong Hong, is the groupthink generated by a closed loop of ideas.
A man wearing a protective face mask walks past a mural inside Toyota's Mega Web showroom in Tokyo, 4 August 2020. (Noriko Hayashi/Bloomberg)

Japan is not decoupling from China

As the coronavirus continues to affect supply chains worldwide, especially with China being a key hub, Japan is taking steps to diversity its sources and be less reliant on China. However, contrary to previous speculations, Japanese academic Shin Kawashima does not think that the Japanese government is attempting to decouple from China, in the way that the decoupling of advanced industries is being carried out in the US.
Lianhe Zaobao recently interviewed Chinese ambassador to Singapore Hong Xiaoyong. (SPH)

Chinese ambassador to Singapore Hong Xiaoyong: China-Singapore ties tested and strengthened through the pandemic

From working to keep supply chains open to establishing “fast lanes” for essential travel, China and Singapore have been working together to face the tough challenges of the pandemic. Beyond pomp and pageantry, these actions are a sign of the strong ties that the two countries have forged over the last 30 years and more. In a recent interview with Lianhe Zaobao, Chinese ambassador to Singapore Hong Xiaoyong said Singapore and China have been working together this year, showing the strength of bilateral relations. And when the coronavirus is over, Singapore and China will be able to cooperate in more areas. With ASEAN becoming China’s top trading partner for the first time ever in the first half of the year, there is even greater scope for China-ASEAN cooperation.
Singapore Ambassador to China Lui Tuck Yew spoke to Zaobao on Singapore-China relations. (SPH)

Singapore’s ambassador to China Lui Tuck Yew: Singapore must stay relevant to China

This year marks the 30th anniversary of the establishment of bilateral relations between China and Singapore. In a recent interview with Lianhe Zaobao, Singapore’s Ambassador to China Lui Tuck Yew takes stock of the relationship, speaks of the challenges and opportunities brought about by Covid-19, and looks ahead to greater heights that the two countries can scale together through greater collaboration and cooperation.