China looks set to drive its economy by focusing on boosting production, industrial upgrade and promoting “new quality productive forces”. However, there are concerns that a move in this direction could lead to overproduction, impacting global markets. Lianhe Zaobao correspondent Yang Danxu looks into the matter.
Trade
Economy
While naysayers have painted a doomsday scenario for Hong Kong since the plummeting of the Hang Seng Index, EAI senior research fellow Yu Hong points to Hong Kong’s strong fundamentals, the vitality of the Greater Bay Area and the knock-on effects of the recovery of the mainland economy. He notes that as long as the mainland economy continues to grow, the Hong Kong stock market will remain attractive to regional and global investors.
Politics
In the three years since the coup in Myanmar, the country’s northern border with China has become an economic and strategic challenge to Beijing’s interests, while India is faced with the biggest humanitarian and security crisis, with refugees entering India posing an immediate security challenge.
Economy
Despite China’s efforts to make genetically modified organisms (GMO) technology a key plank of China’s food security, China has yet to meaningfully translate its research efforts into successful commercialisation, say academics Shaleen Khanal and Zhang Hongzhou. If China manages to overcome the various obstacles to commercialising GM crops, the global landscape of GMO governance, production and exports will be greatly changed.
Politics
As the Red Sea crisis goes on, with the Houthis targeting this key shipping route due to various geopolitical factors, logistics companies have to think of alternatives to move goods around the world.
Economy
Academic Jasper Verschuur points out that the trade route disruptions caused by the Houthi attacks in the Red Sea and the Bab al-Mandab Strait are having a devastating impact on major shipping countries, not least China.
Economy
As growth in the sales of new energy vehicles (NEVs) slows in China, a growing number of Chinese carmakers are speeding up their entry into foreign markets. While rising trade protectionism in Europe and North America is affecting their pace of expansion, Chinese carmakers are exploring new markets in South America and Southeast Asia, and localising their production to achieve breakthroughs. Lianhe Zaobao journalist Daryl Lim speaks with industry insiders to find out more.
Economy
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.
Economy
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.