Day: August 22, 2022

Of Dictators and Trade Surpluses

Chin@Strategy

According to a new NBC News poll, U.S. voters now consider “threats to democracy” the most important issue facing the nation, which is both disturbing and a welcome sign that people are paying attention. It’s also worth noting that this isn’t just an American issue. Democracy is eroding worldwide; according to the latest survey from the Economist Intelligence Unit, there are now 59 fully authoritarian regimes out there, home to 37 percent of the world’s population. Of these 59 regimes, however, only two — China and Russia — are powerful…

Your Tuesday Briefing: Political Turmoil in Pakistan

Chin@Strategy

Good morning. We’re covering political turmoil in Pakistan and schools reopening in the Philippines. Political tensions swell in Pakistan Imran Khan, Pakistan’s former prime minister, was charged under the country’s antiterrorism act on Sunday. He is trying to stage a political comeback after he was ousted from power in April following a no-confidence vote. The charges followed a rally in Islamabad, the capital, where Khan condemned the recent arrest of one of his top aides and vowed to file legal cases against police officers and a judge involved in the…

China’s economy is losing momentum. What is happening and why does it matter for Australia?

Chin@Strategy

China, the world’s second-biggest economy, is in a rocky economic period marked by rolling Covid clampdowns. The timing is awkward, given China is in the run-up to the 20th National Congress of the Communist party in November, which is expected to extend president Xi Jinping’s grip on power. But the issues go beyond the pandemic and notably include a deflating property bubble. Here we break down China’s economic outlook – and what it means for Australia and other countries. How is China faring? The International Monetary Fund (IMF) last month…

China Fights Brush Fires, Extends Power Rationing in Drought

Chin@Strategy

Advertisement Brush fires have forced the evacuation of more than 1,500 people in southwest China and power rationing for factories has reportedly been extended as weeks of record heat and drought batter the region. Some shopping malls in the megacity of Chongqing have been ordered closed for most of the day to reduce electricity demand, state broadcaster CCTV said, limiting opening hours to 4 to 9 p.m. The drought and heat have wilted crops and caused rivers, including the giant Yangtze, to shrink, disrupting cargo traffic and reducing power supply…

Drought Hurts China’s Economy as Central Bank Cuts Rates

Chin@Strategy

HONG KONG — Record-high temperatures and a severe drought in west-central China have crippled hydropower generation and prompted the shutdown of many factories there, in the latest blow to a Chinese economy that already has stagnant consumer spending and a deeply troubled real estate market. Sichuan Province in west-central China, one of China’s most populous and a fast-growing industrial base in recent years, normally generates more than three-quarters of its electricity from huge dams. The summer rainy season usually brings so much water that Sichuan sends much of its hydropower…

China drought causes Yangtze to dry up, sparking shortage of hydropower

Chin@Strategy

A record-breaking drought has caused some rivers in China – including parts of the Yangtze – to dry up, affecting hydropower, halting shipping, and forcing major companies to suspend operations. A nationwide drought alert was issued on Friday as a long-running and severe heatwave in China’s heavily populated south-west was forecast to continue well into September. The loss of water flow to China’s extensive hydropower system has sparked a “grave situation” in Sichuan, which gets more than 80% of its energy from hydropower. On Sunday the provincial government declared it…