Asia

Shaoguan’s vacant apartments, a representation of China’s real estate crisis
21Oct By TheGreenZoneNo Comments
Asia, China

Shaoguan’s vacant apartments, a representation of China’s real estate crisis

You have to arrive at night in Shaoguan, a city of 3.3 million people in southeast China, to measure the real estate crisis that has hit the country. Around the high-speed train station, inaugurated in 2019, tower blocks of buildings have sprung up like mushrooms in recent years, creating a gigantic neighborhood. But when night falls, not a single light is on. That’s because Shaoguan is drowning in empty and unsold apartments. At the current sales pace, it will take more than 10 years to sell this stock, compared to an average of two years in China, according to estimates by the China Real Estate Information Corporation. This is a record in the country, which has 28,000 billion yuan ($3.96 billion) worth of available apartments, according to Barclays. “There are so many...
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The worldwide market is being revolutionized by China’s electric car sector.
20Oct By TheGreenZoneNo Comments
Asia, China, Market, World

The worldwide market is being revolutionized by China’s electric car sector.

The global electric vehicle market has become a critical component in the transition towards a low-carbon future. At the forefront of this revolution is China, whose rapid ascent in the EV industry has left global automakers scrambling to keep pace. Despite trade tensions and tariffs aimed at curbing its dominance, China remains the undisputed leader in the sector, producing more than 60% of the world’s EVs. China’s success in the electric vehicle industry can be traced back to a combination of forward-thinking policies, substantial investments, and a national commitment to innovation. The story begins with a strategic proposal made by Wan Gang, often referred to as the father of the EV movement in China. His vision, presented to the Chinese State Council in 2000, emphasised the need f...
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The TSF Group provides a comprehensive range of products for international markets.
19Oct By TheGreenZoneNo Comments
Asia, Market, World

The TSF Group provides a comprehensive range of products for international markets.

The TSF Group, one of the largest automotive groups based in India is gearing up to produce exhaustive range of brakes, axles and wheels for the domestic and global trailer market. As a renowned Tier-1 supplier to global original equipment manufacturers (OEMs) for over 60 years, the group strongly focuses on design, development, world-class quality, competitive cost and superior customer centricity. Brakes India, a leading supplier of braking systems, recently showcased its 22.5-inch light weight monobloc Single Piston Air Disk Brake. The product is designed to cater to truck, bus and trailer applications. It is targeted towards both domestic and exports trailer markets. It meets the FMVSS 121 regulations for North America, said a company official. Key features of the product inc...
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Trump says if China assaults Taiwan, he would impose heavy tariffs.
19Oct By TheGreenZoneNo Comments
Asia, China, USA, World

Trump says if China assaults Taiwan, he would impose heavy tariffs.

US Republican presidential candidate and former US President Donald Trump said he would impose additional tariffs at “150% to 200%” on China if it were to "go into Taiwan," the Wall Street Journal reported Friday (Oct. 18). When asked whether he would use military force in response to a potential Chinese blockade of Taiwan, Trump said it wouldn’t be necessary because Chinese President Xi Jinping (習近平) respects him. “I wouldn’t have to, because he respects me and he knows I’m f— crazy,” Trump stated. During his presidency from 2017 to 2021, Trump took an aggressive stance on China. He imposed multiple rounds of tariffs that triggered a trade war and affected the global economy, according to Reuters. Trump also addressed Russia’s invasion of Ukraine in the interview,...
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Everyone is affected by China’s economic slowdown; it’s not just a personal issue.
19Oct By TheGreenZoneNo Comments
Asia, China, Market, World

Everyone is affected by China’s economic slowdown; it’s not just a personal issue.

Issues in a country can have a rippling effect felt by its neighbours and countries far across the globe. The reason behind this is globalisation, which doubtless, has its benefits but has also increased the linkage and dependencies between countries.  For example, Sri Lanka’s economic turmoil, which began in 2019, negatively impacted the businesses of Indian companies such as Reliance, Ashok Leyland and Tata Motors, but also opened more doors for India in the tea market. Because of the crisis, Sri Lanka’s primary tea exports fell significantly, and India took this opportunity to fill this gap in the global market.  Similarly, China’s economic slowdown is causing shock waves not only in the country but also across the global economy. Here’s a detailed picture.  Why...
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Economic prognosis for Japan, October 2024
18Oct By TheGreenZoneNo Comments
Asia, Market

Economic prognosis for Japan, October 2024

Evidence of improvement is emerging in the Japanese economy: After a contraction in the first quarter, real gross domestic product rebounded by 0.7% in the second quarter of 2024, thanks to strong domestic demand.1 Consumer spending grew 0.9% from the previous quarter, while both residential and nonresidential private investments picked up. Year over year, consumer spending returned to growing ways, while exports contracted for the first time since 2020.2 Clearly, the driver of Japan’s economic growth is shifting from external to domestic demand. Although we expect domestic demand growth to continue, gains will likely be modest as elevated inflation limits the benefits of stronger wage growth. Real GDP growth was a welcome development, but some of the gains in the second quar...
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India’s economy is expected to rank third, however growing populations provide a challenge: The S&P
18Oct By TheGreenZoneNo Comments
Asia, Market

India’s economy is expected to rank third, however growing populations provide a challenge: The S&P

India is poised to be the third largest global economy by 2030 but rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday. It said emerging economies have high ambitions for the next decade and beyond with India aiming to become a $30 trillion economy by 2047, from the current $3.6 trillion. India is currently the fifth largest economy. "India is poised to be the fastest-growing major economy over the next three years and the third largest globally by 2030. Its 2024 entry into JP Morgan's Government Emerging Market Bond Index could provide additional government funding and unlock significant resources in domestic capital markets. This is only a first step --investors will...
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Due to a dire energy situation, Cuba was obliged to “paralyze its economy.”
18Oct By TheGreenZoneNo Comments
Asia, Market, World

Due to a dire energy situation, Cuba was obliged to “paralyze its economy.”

Cuba’s government has announced it will halt all non-vital state services and businesses for three days as it battles an energy crisis that has caused marathon blackouts for much of the country. Prime Minister Manuel Marrero outlined the measures in an address Thursday night, saying the government had no choice but to “paralyse the economy.” This includes shuttering all cultural activities and recreation centres such as discos, as well as public schools until Monday, Cuba’s state-run electricity union said in a release. After initially announcing staggered geographical outages, the government declared a complete nationwide breakdown of the National Electric Power System shortly after 11am (15:00 GMT) on Friday morning, declaring it had been “totally disconnected.” It...
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The inflationary situation in Pakistan might cause a rift between the people and the government.
18Oct By TheGreenZoneNo Comments
Asia

The inflationary situation in Pakistan might cause a rift between the people and the government.

The connection between citizen and state is becoming frayed to an extent I have rarely seen before. In our national conversation, most of the reason for why this is happening has been ascribed to the rollback of rights and constitutional protections in recent years, a phenomenon that is accelerating rather than drawing to a close. Part of the reason for this emphasis is the large and outsized voice that lawyers have in our national discourse, and they necessarily see everything through the lens of law, rights and the Constitution. But there is another reason that is at least equally important and, I will argue, more foundational. That reason is livelihoods. The most ferocious inflationary fire of our history still smoulders in our midst. In the last five years, my own per unit elect...
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Would China’s latest stimulus be sufficient to boost its economy?
17Oct By TheGreenZoneNo Comments
Asia, China, Market

Would China’s latest stimulus be sufficient to boost its economy?

In September, China’s central bank announced its most aggressive measures since the pandemic to get its economy back on track after it became clear the country might miss its 5 percent gross domestic product (GDP) growth target for 2024. The world’s second-largest economy is still struggling from the lingering side-effects of COVID-19 – when China implemented some of the longest and harshest lockdowns – to the collapse of its property sector in 2021, and deeper societal changes like a falling birthrate and ageing population. Beijing has so far avoided the kind of 4 trillion RMB ($586bn) stimulus it used in 2008 following the global financial crisis, but its latest moves have been met with a positive response from investors. Observers, however, wonder whether it will be enough. Wh...
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