China

According to 'Trading Economics,' the deposit Interest Rate in China averaged 1.03% from 1990 to 2023. The highest was 3.15% in July 1993 and is now ruling at 0.35%. This is like the developed nations. However, China is not a developed nation. It was definitely not so in 1990. Yet China's central bank kept the deposit rates low. Manufacturing and real estate were top gainers. The common people of China paid the price. Their hard-earned money didn't earn interest from the bank. They do not trust their capital market. They had no safe choice to grow money. The Chinese Communist Party (CCP) forced them to buy apartments as a means of investment. Property builders enjoyed every bit of it. They had both access to dirt-cheap project finance from banks and assured flow of customers. The bu...

These days there is a common scene on the Beijing streets and this is quite shocking that every household skips New Year’s shopping online article.  Beijing never been this desolate, gets banned outside the street service centre, in Chaoyang District there is a queue of nearly 100 people dressed in thick coats, they slowly move forward. They are all selling blood to a blood donation vehicle parked in the courtyard. They are selling at RMB 800 for 200 cc and RMB 1200 for 300 cc.     China’s economy continues to decline with many foreign companies leaving and numerous private business closing down leading to a wave of unemployment.As the new year approaches reduction in wages become more common worsening the situation among the crowd selling blood, some struggle to pa...

The struggling Chinese economy has received another jolt after the annual exports reported a fall of around 5 percent in 2023-- which is the lowest since 2016.[1] Property crisis, lower manufacturing, and high unemployment rate have posed challenges to China's economy. All this does not sound well for the Chinese economy which the International Monetary Fund (IMF) said is going to witness a slowdown for the next four years.   The exports in 2022 were worth USD 3,554 billion, which declined to USD 3,380 in 2023.[2] China is no longer the top exporter to the US as its share reduced to 13.9 percent in 2023 from 21 percent in 2017.[3] About 180 million Chinese people are dependent on export-related activities for their livelihood.[4] “Exports conditions remain fragile,” said Ding Shua...

China’s economy faced many challenges in 2023, such as fiscal deficits, real estate defaults, financial closures, and export decline. These affected the citizens’ welfare, causing lower property values, higher unemployment, and less spending. The situation did not improve, and more defaults were feared. However, at the Davos Forum, Chinese Premier Le Qiang claimed a 5.2% growth for China in 2023, exceeding the government’s target of 5%. This sparked doubts about its validity, and some even said that China had negative growth last year. What is China’s economic outlook for this year, and can it recover from the previous difficulties? Cai Shenkun, a prominent Chinese media figure in the US, said on the elite Forum that Le Qiang was deceiving himself and the world. He said that the 5.2% f...

According to Yuan Xin, the vice-president of the Population Association of China, there is a silver lining to the decline in China’s population this year: the cultural inclination to conceive a child during the Year of the Dragon. Many Chinese families believe that having a dragon baby will bring them luck and prosperity, and the statistics support this: the last Year of the Dragon, 2012, saw a surge in new births. However, it's important to acknowledge that while this cultural preference for giving birth in a fortunate year is cherished, it may not be sufficient to reverse the long-term downward trend in population growth, which requires urgent and effective measures to increase the birth rate. This is the message from demographic experts, as the latest data shows that China experienc...