China

Foreign companies doing business in China are sending shockwaves through the economy. In a surprising economic shift, China has witnessed a substantial downturn in foreign investment, reaching a near four-year low of $7.5 billion in November, meticulously calculated by Bloomberg based on Ministry of Commerce data. This significant 19.5% drop from the previous year is indicative of a challenging economic phase gripping the nation. Throughout the year, the overall investment scenario has painted a broader picture of concern, experiencing a 10% decline to $1.04 trillion. The disconcerting revelation from the State Administration of Foreign Exchange further accentuates the narrative, revealing foreign investment in China turning negative for the first time since 1998. This paradigm shift sugg...

The rising unemployment rate in China amid the realty crisis-led economic slowdown and the Beijing government's inability to create enough jobs have caused panic among the youth. The competition for limited government posts has become fierce. The young people are compelled to take up menial jobs or to resort to farming jobs.     Against the backdrop of economic slowdown, state interventions and disruptions due to Covid pandemic, China has witnessed shut down of several private companies and the exit of many multinationals.[1][2][3][4] This has led the unemployment to rise, hitting the young graduates and professionals the most. Wang Jun, chief economist at Huatai Asset Management, said "Youth unemployment will stay with us for quite a long time, at least for five-to-10 y...

Karl Marx would have been turning in his grave to read the AP report from Miami dated November 15, 2023, that China leads the list of labour abusers, akin to slavery, as found on board fishing vessels worldwide. Should be unthinkable in communist China, as Marx had dreamt of a communist society where labour would be free from exploitation. The research, carried out by Washington-based non-profit organization Financial Transparency Coalition that tracks illicit money flows, has detected hazardous, forced working conditions sometimes akin to slavery, on nearly 500 industrial fishing vessels around the world. A quarter of these vessels, suspected to be abusing workers, were flying the flag of the People’s Republic of China. The Chinese distant water fleets dominate fishing in the high ...