Glencore faces copper sales disruption in China

Economy 09/29/22, 10:37

According to Financial Times on September 27, Glencore, the world’s leading commodity trader, had to suspend a shipment of high purity copper to China due to Maike Metals International facing liquidity problems. The outlet, citing people familiar with the matter, reported that Maike, one of China’s biggest copper traders, struggled with ...

Fall crops under severe threat as drought continues at the two biggest lakes

Disasters 09/29/22, 10:33

China’s Yangtze River basin has experienced a rare drought during the flood season since July. Although drought in the upper reaches has eased slightly, it remains severe in the middle and lower Yangtze Rivers, Poyang Lake, and Dongting Lake. Britannica says the Yangtze basin contributes nearly 50% of China’s crop production. ...

China faces deflation risks as real estate crisis deepens

Economy 09/29/22, 10:31

According to Bloomberg, China is facing deflation risks as demand shrinks due to the combined impact of Beijing’s ongoing strict Covid-control measures and the real estate crisis. The deflation risks in China are in contrast with global surging inflation risks that many countries are seeing record high consumer price indexes. According to ...

Secondhand business is booming as young Chinese shun new items for used

Insights 09/29/22, 10:27

While the economy is facing difficulties due to the impact of the COVID pandemic, the secondhand market has grown enormously in China. For this type of retail, hard times provide suitable conditions for such a business to thrive. According to SCMP's report, the revenue of secondhand selling platforms has reached a ...

TikTok faces potential fine of $28.9 million as UK investigates minor data breach

Insights 09/29/22, 10:12

A preliminary finding from British authorities has determined that TikTok may have failed to protect children’s privacy according to law. According to Bloomberg, the Office of Information Commissioner (ICO) alleged that TikTok may have skipped obtaining parental permission from youngsters who use the platform. The video-sharing platform is also accused of ...

Local traffic jams in Anhui city due to thousands of people catching fish

Anomalies 09/29/22, 10:09

Recently, the water level of Chengxi Lake in Lu’an City, Anhui, China, dropped sharply. The phenomenon attracted tens of thousands of people to fish.  The phenomenon even caused traffic jams in the local area. Liu 刘, a resident, told the reporter that the lake’s water level had dropped, creating an excellent opportunity ...

World Bank cuts Asia growth forecast due to China’s slowdown

Economy 09/29/22, 06:32

According to the World Bank report, the economic growth in East Asia and the Pacific region has been hit due to China's slowdown. The World Bank on Tuesday, September 27, lowered the growth forecast of the region to 3.2%, down from 5% in April. The bank cut China's growth forecast for this ...

Four signs that indicate China’s collapse has started: expert

Insights 09/29/22, 06:31

Sebastian Mallaby, the senior fellow for international economics at the Council on Foreign Relations, in an article in the Washington Post on September 24, pointed out that four signs show China "is starting to crack." First, the difficulties and risks caused by the Chinese Communist Party (CCP) 's Zero-COVID policy Second, problems ...