Chinese banks have cut their key mortgage interest rate by a quarter point, the largest single reduction ever, in a desperate attempt to revive the real estate market that, in the past, has accounted for more than 20 percent of the country’s GDP.
Tag: China
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
In January, deflation continued to ravage China’s economy, with the consumer price index slipping 0.8 percent year on year. Analysts polled by Reuters had expected a 0.5-percent decline.
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SPOTLIGHT: CHINA’S ECONOMIC GLOOM
About 40 percent of asset managers attending a Goldman Sachs conference in Hong Kong last week called Chinese equities “uninvestable,” the Financial Times reported.
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FBI SELLING FEAR: CHINESE ARE GOING TO ATTACK OUR INFRASTRUCTURE
In an obvious attempt to get the American public to get even more suspicious of the Chinese, Christopher Wray, the FBI director, said last week that hackers from the country are preparing a massive attack on U.S. infrastructure.
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SPOTLIGHT: CHINA’S ECONOMIC TURMOIL
The Chinese government is considering pulling about two trillion yuan, equivalent to roughly $278 billion, from offshore accounts of state-owned companies to buy stock in Chinese businesses, Bloomberg reported.
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INDIA SURPASSES HONG KONG AS WORLD’S FOURTH LARGEST EQUITIES MARKET
With China’s economy on the ropes, investors have transferred their hopes to India.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s economy expanded by 5.2 percent in 2023, edging past its 5-percent target, the most modest in more than two decades, according to the country’s statistics office.
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U.K.’S DEFENSE HEAD SAYS WEST SHOULD PREPARE FOR WAR WITH RUSSIA, CHINA, IRAN, AND NORTH KOREA
Grant Shapps, the British defense minister, said the U.K. needs to prepare for war within five years with Russia, China, Iran, and North Korea—the countries that the U.S. has already identified as the new “Axis of Evil.”
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
The world’s investment managers no longer see Chinese stocks as essential to their portfolios, according to Bloomberg’s analysis of 14 U.S. pension funds.
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TAIWAN ELECTS RULING-PARTY CANDIDATE WHO REJECTS CHINA’S SOVEREIGNTY CLAIMS OVER ISLAND
Taiwan voted in favor of its current ruling party last week—ensuring more tensions with China in the next four years.