Tag: Economic Conditions and Trends

Xi and Putin Bind China and Russia’s Economies Further, Despite War in Ukraine

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xi and putin bind china and russias economies further despite war in ukraine

MOSCOW — President Vladimir V. Putin of Russia and China’s top leader, Xi Jinping, declared an enduring economic partnership on Tuesday, promising to bring more Russian energy to China and more Chinese companies to Russia as the two leaders sought to insulate their countries from Western sanctions and other consequences of the war in Ukraine. The economic pledges, trumpeted by the leaders on the second day of Mr. Xi’s state visit to Moscow, were a sign that China would continue to do business as normal with Russia and that Moscow…

Sri Lanka, Its Economy Reeling, Is Approved for $3 Billion Rescue Loan

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sri lanka its economy reeling is approved for 3 billion rescue loan

The executive board of the International Monetary Fund approved a loan worth $3 billion to help Sri Lanka through the financial crisis that has had the nation in a rolling economic and political crisis for more than a year. The I.M.F. had agreed in principle to extend the funds last September — subject to Sri Lanka’s meeting a series of conditions that included tightening its finances and renegotiating the terms of repaying debt it owes to the biggest economies in Asia. Even before the announcement was made, late on Monday…

As Economy Falters, China’s New Premier Tries to Boost Business Confidence

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as economy falters chinas new premier tries to boost business confidence

BEIJING — China’s new premier, the country’s No. 2 leader after Xi Jinping, sought on Monday to reinvigorate confidence in the faltering economy, promising that private-sector companies would be treated equally with state-owned ones and that the property rights and other interests of entrepreneurs would be strictly respected. Premier Li Qiang, who took office on Saturday, strongly endorsed the role of entrepreneurs after a decade in which the state and the ruling Communist Party have played a steadily growing role in China’s economy, with some pro-party commentators castigating big businesses.…

A Chinese Commonwealth? An Unpopular Idea Resurfaces in Taiwan.

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a chinese commonwealth an unpopular idea resurfaces in taiwan

The K.M.T. has a long history of arguing for economic integration with China. The party’s roots date back to the nationalist army that lost a civil war against Chinese Communists in 1949 and escaped to Taiwan to regroup. K.M.T. officials, who initially ruled as a military dictatorship, were so committed to the dream of returning to the mainland for a rematch that, a Ming Chuan University professor told me, they routinely barred active-duty soldiers from getting married, out of fear soldiers would be diverted from their cause. The closest that…

After China’s Winter of Discontent, Xi Jinping Sets Sights on Growth and Power

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after chinas winter of discontent xi jinping sets sights on growth and power

Xi Jinping is on the political march again. After a turbulent year that ended in faltering growth, widespread protests, and a surge of deaths after China abruptly abandoned Covid controls, China’s top leader is poised to secure even more power at the annual gathering of the national legislature that opened on Sunday. At the start of the National People’s Congress, the Chinese government laid out a post-Covid agenda centered on reviving the economy with a 5 percent growth target, raising spending on military, education and social needs, and augmenting Mr.…

China’s Economy Will Expand About 5 percent, A Cautious Target

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chinas economy will expand about 5 percent a cautious target

China’s government said it expected the country’s economy to grow “around 5 percent” this year, a goal that may be attainable as activity rebounds quickly but will still require considerable public borrowing and spending on roads, rail lines and other infrastructure. Li Keqiang, who will finish his decade as the country’s premier in the coming days, announced the target on Sunday at the opening of the annual session of the National People’s Congress. “This year, it is essential to prioritize economic stability and pursue progress while ensuring stability,” Mr. Li…

What to Expect at China’s National People’s Congress as Xi Tightens Grip

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what to expect at chinas national peoples congress as xi tightens grip

China’s leaders are set to use a gathering of the top legislature starting Sunday to outline plans to restore public confidence and bolster economic growth after a year of uncertainty, disruption and discontent around the government’s Covid restrictions. The annual session of the largely ceremonial National People’s Congress is aimed at conveying the ruling Communist Party’s confidence and inspiring national unity. For the country’s top leader, Xi Jinping, this year’s event will also be key to reinforcing his authority after his signature “zero Covid” policy, now abandoned, drew widespread protests…

China’s Factories Report Surge in Activity After Lockdowns End

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chinas factories report surge in activity after lockdowns end

After being brutally battered by the coronavirus pandemic last year, Chinese factories bounced back with unexpected vigor last month. The official index of manufacturing activity, based on surveys of purchasing managers at companies in China, shot up in February from the month before to its highest level in more than a decade. The index of service sector activity also rose.Both measures suggested that business had expanded for a second straight month, after contracting during the Covid restrictions. After a year of unrelenting lockdowns, quarantines and coronavirus testing that paralyzed much…

China’s Cities Are Cutting Health Insurance, and People Are Angry

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chinas cities are cutting health insurance and people are angry

Local governments across China, facing a financial tipping point after three years of expensive Covid measures, are forcing abrupt changes on the country’s health care system, squeezing benefits and angering citizens. Thousands of seniors, who are most vulnerable to the cutbacks, converged on municipal parks and other public spaces in recent days to protest the changes. They gathered in the chilly northeastern city of Dalian, in semitropical Guangzhou nearly 1,500 miles away and in Wuhan in central China, where the Covid pandemic began at the end of 2019. One of…

What the War in Ukraine Has Truly Cost Us

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what the war in ukraine has truly cost us

I’ll never forget the stories I heard on the Ukrainian-Polish border one year ago: Newlyweds who separated hours after saying their vows so the groom could return to the front. A tax preparer in Boston who quit her job to return to Ukraine with suitcases full of medical supplies. The wife of a border guard who made the three-hour round trip from Lviv to the Polish border almost daily to drop off fleeing women and children and pick up weapons and supplies. The one-year mark of this terrible war brings…