Updated on 10/22/2021 11:50 am Land sales by the Chinese government plummeted for a second month in a rapidly cooling real estate sector, as cash-strapped developers stayed on the sidelines, putting pressure on local authorities who rely on these auctions to obtain income. The value of land sales nationwide fell 11.15% to 570.3 billion yuan […]
Tag: China
China and the United States engage again in the event of a conflict over Taiwan
China and the United States once again engaged in a possible conflict over Taiwan, an island on which Beijing claims its sovereignty without there being “possible concessions“While Washington clarified that it will defend the territory if they attack it. The latest scuffle comes after US President Joe Biden announced on Thursday a “commitment“Explicit to defend […]
Evergrande finds funds to avoid default for now
China Evergrande Group appeared to avoid a default with a last-minute payment of interest on a bond, a source told Reuters, gaining another week to deal with a debt crisis that threatens the world’s second-largest economy. China’s second-largest real estate developer remitted $ 83.5 million to a trust account at Citibank on Thursday, the person […]
Joe Biden warns that the United States will defend Taiwan against an invasion of China
Updated 10/21/2021 10:23 pm The president of USA, Joe Biden, warned this Thursday that his country will defend Taiwan if China decide to launch an eventual attack. “China, Russia, they know that the United States has the most powerful Armed Forces in the world”, Biden said during a televised voter event organized by CNN. Asked […]
Shares of Chinese giant Evergrande plunge on return to the stock market
Shares in Chinese real estate giant Evergrande fell sharply as it returned to the Hong Kong Stock Exchange on Thursday after a nearly three-week suspension on reports of the failure of the sale of its property services unit. Evergrande suspended its trading on October 4 as it faced $ 300 billion in debt, amid investor […]
Copper resumes rally despite announcements from China to cool record coal prices
The copper and other base metals resumed their rally on Wednesday amid the falling dollar and fears that the global energy crisis could affect already weakened inventories, Reuters reported. At 16.10 GMT, three-month copper on the London Metal Exchange (LME) it rose 0.5% to $ 10,193 a tonne after earlier falling to $ 9,908.50 after […]
US: after 20 years in the WTO, China still does not change its bad practices
Updated 10/20/2021 12:00 pm About 20 years after China’s entry into the World Trade Organization (OMC), that country has used that membership to establish itself as the largest global exporter, but it still does not dismantle commercial practices incompatible with the free market, assured the United States delegation to the organization. “The members of the […]
China vows to accelerate its “new development model” at the WTO
Updated 10/20/2021 10:21 am China promised before the World Trade Organization (WTO) to accelerate its “new development model”Relying on domestic demand, while further expanding its vast international market. Beijing made such a promise on the occasion of the review of China’s trade practices in the OMC, an exercise that all members of this organization undergo […]
The Economist: Latin America could become an alternative to China
Latin American economies are stunned by the pandemic. No other region suffered a bigger GDP drop in 2020 or a higher death rate. Even before the coronavirus hit, the largest Latin economies lagged behind the success stories of emerging countries in Asia and Europe. They were stifled by poor governance, over-reliance on raw materials, and […]
China’s Self-Inflicted Slowdown Tests Beijing’s Reform Determination
As China leapt ahead of major rival economies after last year’s COVID-19-induced crash, Beijing saw an opportunity to push through tough measures targeting indebted developers, as well as industrial polluters and tech giants. President Xi Jinping’s bold reforms are intended to reduce the economy’s dependence on property and debt, channel more resources into high-tech manufacturing, […]