Analysts estimate China’s outstanding government debts surpassed 123 trillion yuan ($18 trillion) last year, of which nearly $10 trillion is so-called “hidden debt” owed by risky local government financing platforms that are backed by cities or provinces. CNN Business
Tag: Economy
China demands US stop trade talks with Taiwan
China’s government on Thursday accused Washington of jeopardizing peace after U.S. envoys began trade talks with Taiwan aimed at deepening relations with the self-ruled island democracy claimed by Beijing. AP
Need to implement policies to stabilize economy
Chinese Premier Li Keqiang on Wednesday underlined the need to earnestly implement policies to stabilize the economy and support market entities, employment and people’s livelihoods. english.cctv.com
Communist China becomes a threat of unknown magnitude
PERHAPS more than any other aspect of Communist China, the problem posed by its enormous population growth has begun to cause anxiety and concern to its neighbors in Southeast Asia. The Atlantic
Taiwan is worried about the security of its chip industry
Good thing then that Taiwan has huguo shenshan, or the “magic mountain that protects the nation”. The mountain is not a sophisticated defensive fortification, nor a treaty with a big power. It is instead what Taiwanese call their $147bn semiconductor industry, equivalent to 15% of gdp. It accounts for nearly 40% of its exports and is a pillar of the island’s economy. It is also a guarantor of its security. The Economist
The $147 Billion Mountain between China & Taiwan
The “magic mountain that protects the nation”. The mountain is not a sophisticated defensive fortification, nor a treaty with a big power. It is instead what Taiwanese call their $147bn semiconductor industry, equivalent to 15% of gdp. The Economist
Emergency meeting to revive China’s Covid-hit economy
China’s cabinet held an emergency meeting with more than 100,000 participants on Wednesday, according to state media, as top leaders urged new measures to stabilize an economy battered by the country’s stringent Covid-19 restrictions. CNN Business
Possible talks between U.S. & Taiwan ‘in a few weeks’
Taiwan and the United States could begin talks to deepen trade and economic ties “in a few weeks,” two senior Taiwanese government officials told CNN on Friday.
The new discussions will “explore concrete ways to deepen the US-Taiwan trade and investment relationship,” the officials said, with the focus on institutionalizing cooperation in supply chain resilience, labor, environment and sustainable development. CNN
Taiwan lowers GDP forecast for 2022, raises inflation expectations
Taiwan lowered its GDP growth forecast for this year by 0.51 percentage points to 3.91% versus its previous forecast.
According to an official statement on Friday from the country’s budget directorate, inflation is expected to reach 2.67% on average this year, increasing by 0.74 percentage points. aa.com.tr
Economy is security
The Quad countries and others in Asia made clear over the last five days that while things like maritime defense are important, real security has to heed Asian countries’ economic wants and needs. CNBC