$3 billion investment of “China’s LVMH” collapsed

Economy 09/26/22, 10:43

Qiu Yafu, chairman and owner of the Shandong-based company Shandong Ruyi, has invested more than $3 billion (about 20 billion yuan) in the acquisition of luxury garment companies from Paris to London, including French fashion brands Sandro and Maje, British trenchcoat brand Aquascutum, and Lycra manufacturers. His dream was to ...

Liaoning students: ‘Back to school’ boycott

Insights 09/26/22, 10:38

Due to the return of the pandemic, many cities in China where the outbreak occurred postponed the fall semester opening. A few days ago, Liaoning provincial education authorities required all students from 114 colleges and universities to return to school by October 1. The urgent notice after such an extended closure ...

Goldman Sachs continues to downgrade China’s 2023 growth forecast

Economy 09/26/22, 00:57

According to a Bloomberg note on September 22, Goldman Sachs slashed its previous projection for China’s economic growth next year from 5.3% to 4.5%. The prediction of 3% expansion this year is unchanged.  Goldman’s economists, led by Hui Shan, anticipate that the communist regime will continue to sustain its draconian “zero-COVID” ...

U.S. bank CEO’s warn of pulling out of China if it invades Taiwan

China 09/26/22, 00:46

During the congressional hearing on Wednesday, U.S. bank’ CEOs said they would follow what the government demands of them in the event of a Taiwan invasion by Chinese forces.  Executives of Bank of America, Citigroup, JPMorgan Chase, and regional banks attended a hearing at the U.S. House Committee on Financial Services. ...

‘We’re on that bus, too’; popular comment on social media

Social problem 09/26/22, 00:33

According to NBC News, on Sunday, September 18, a bus from the southwestern city of Guiyang crashed while transporting people to a COVID quarantine site. At least 27 people died as a result of the accident.  As seen by photos posted on Chinese social media, the gold-colored passenger bus sustained significant ...

‘Zero-COVID’ hammers 8 Chinese airlines: Lose nearly $10 billion dollars

Economy 09/26/22, 00:31

The Chinese Communist Party (CCP)’s “zero-COVID” policy, based on lockdown, caused many airline flights to be canceled. Thus the airlines continuously lost money.  According to NTD, in the first half of this year, eight Chinese airlines lost nearly $10 billion (70 billion yuan) or almost $54 million (380 million yuan) per ...

Time runs out for TikTok as US execs leave over ByteDance influence

Insights 09/26/22, 00:24

According to Forbes magazine, many U.S. leaders in TikTok are leaving because of the Los Angeles-based company’s increased ties to its parent firm ByteDance. Interviews with former employees divulged that TikTok may put U.S. nationals into top positions, but eventually, it will find a way to divert the power back to ...

China still gripped by severe drought in many regions

Disasters 09/26/22, 00:23

Severe drought has not yet let go of China. It continues in provinces including Hunan, Anhui, and Chongqing. This aggravates the difficulties the Chinese Communist Party (CCP) has with people more dissatisfied with the government as they suffer wave after wave of long-term lockdowns and a declining economy. In Chongqing, the Daxi ...

China’ state-owned developers emerge as ‘winners’ in property crisis

Economy 09/25/22, 22:49

Since last summer, the communist regime began its crackdown on China’s real estate market to restrain home speculation and debt-distressed private developers. As a result, several major private firms in the industry, including real estate giants Evergrande and Kaisa, defaulted on bonds and loans and stopped announcing earnings and monthly ...