In May, China’s manufacturing momentum slowed but retail sales jumped more than 50 percent for the month due to a splurge over the May festival week. The property crisis showed no signs of recovery despite Beijing’s recent attempts to revive it.
Tag: China
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TRADE WAR 2.0: CHINA BLASTS ‘HYPOCRITICAL’ G7
China lashed out at leaders from the G7 for “baselessly” accusing Beijing of destabilizing the world, from its business relationship with Russia during the Ukraine War to jeopardizing Western economies with oversaturation and a cheap workforce.
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SPOTLIGHT: CHINA’S ECONOMY
China’s exports grew by 7.6 percent in dollar value in May, year on year, beating analysts’ forecasts of 6-percent growth. The figure was better than in any month since April 2023.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
Earlier this month, China’s government revealed a plan for state-owned companies to buy some of the millions of unfinished apartments littering the nation and convert them to affordable housing for low- and middle-income households.
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CHINA REJECTS U.K.’S ESCALATORY CLAIM THAT IT HAS PROVIDED RUSSIA WITH ‘LETHAL AID’ AMID UKRAINE WAR
Wang Wenbin, China’s Foreign Ministry spokesman, accused the U.K. and the collective West of being the biggest impediment to peace negotiations in Ukraine because of their constant stream of lethal aid to keep the fight going.
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U.S. SENATORS: SPEND $32 BILLION A YEAR ON AI TO BEAT CHINA
Regulators and the AI industry need to protect Americans from the potential dangers of AI, but the country also needs to invest at least $32 billion annually to ensure that China doesn’t surpass the U.S. in advancing AI technology, according to a proposal by a bipartisan group of U.S. senators.
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TOP TREND 2024, A GOLDEN YEAR FOR GOLD: CENTRAL BANKS STOCKPILING SANCTION-PROOF GOLD
Gold’s price has rocketed up 33 percent since 2023 began, recently topping $2,450 an ounce last week.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
Several cities in China are enacting a policy authorized recently by Beijing: buying partially built homes from developers and completing the units as affordable apartments for low- and middle-income families.
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SPECIAL REPORT: CHINA RECONFIGURES THE GLOBAL AUTOMOBILE BUSINESS
China has become not only a vital market for most of the world’s major automakers, but its cars are among the world’s most technologically advanced.
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SPECIAL REPORT: CHINA TRADE WAR 2.0
U.S. president Joe Biden has slapped additional tariffs on some Chinese products entering the country and added new levies on others.