The people living in half-built homes

China’s massive economy is being threatened by a real estate debt crisis the likes of which has never been seen. Just months before Xi Jinping is to be ushered into a historic third term in office, banks are failing, and protesting property investors are withholding mortgage repayments because developers have not finished building their homes. In some cities, homeowners, who bought their apartments off-plan, have decided to just move their families into unfinished towers, ignoring warnings to stay away. The BBC’s China Correspondent Stephen McDonell travelled to Xi’an to meet…

Blinken makes case for democracy at start of sub-Saharan Africa tour

Antony Blinken, the US secretary of state, has appealed to “governments, communities and peoples” across Africa to embrace Washington’s vision of democracy, openness and economic partnership in the first major speech of three-nation tour of sub-Saharan Africa. Blinken was speaking in South Africa on the first stop of his tour, which will include the Democratic Republic of the Congo and Rwanda. The new diplomatic effort comes after several years during which Washington appeared uninterested in sub-Saharan Africa. The tour has been portrayed as an attempt to counter recent efforts by…

China’s Low-Growth Zero-COVID Policy Signals Transition Away From Reform Period

Advertisement If it wasn’t clear before COVID-19 hit, it is now apparent that Xi Jinping, China’s top leader, does not prize economic growth above social and political factors. In fact, growth appears to be further down on China’s agenda than it has been in several decades. We can conclude this since China is still following a zero-COVID policy despite the reduction of COVID-related restrictions in the West. To some extent, this makes sense, as China remains vulnerable; 38 percent of its population above 60 has not been fully vaccinated, and…

Taiwan crisis: China defends calling off US military talks as exercises set to resume

China’s defence ministry defended its shelving of military talks with the United States in protest against Nancy Pelosi’s visit to Taipei last week, as its military said it would continue drills around Taiwan on Monday. The People’s Liberation Army (PLA) posted online that it would practise anti-submarine attacks and sea raids on Monday, following four days of unprecedented drills around the self-ruled island. Defence ministry spokesperson Wu Qian defended the decision to suspend military channels, saying in an online post on Monday: “The current tense situation in the Taiwan Strait…