China’s consumers are sitting on excess savings of 6 trillion yuan (US$874 billion), but business analyst Shaun Rein sees consumer confidence is pretty low, and they seem unwilling to spend their savings, he tells the South China Morning Post.

China lost 229 billionaires in the last year as a faltering economy, sliding stocks and a depreciating yuan hit the country’s super-rich harder than their peers in any other nation, according to a new list published by Hurun Report. Rupert Hoogewerf, chairman and chief researcher of Hurun Report, “Chinese entrepreneurs will actively look to expand abroad from this year as they have a global perspective,” says Hoogewerf, according to the South China Morning Post.

The US has 100 military bases outside its country in the world, while China is changing geopolitics by building railroads and highways, says renowned investor Jim Rogers in an interview with state-owned CGTN.

China calls itself a democracy, to the confusion of people living in democracies. China scholar Ian Johnson explains how China moves between democracy and dictatorship, and how both terms can be defined, in an explanatory video from the Council of Foreign relations.

China’s economy took a positive turn after the government ended in December 2022 its zero-Covid policies, but economist Sara Hsu warns 2023 offers still many headwinds, she writes in Project Syndicate.