The equity market is shunning China, and especially Hong Kong, says business analyst Shaun Rein to the Schwab Network. But it is for the wrong reasons, as the economy is still bad, but slowly recovering, he says. Retail sales are going up, employment is improving and FDI is coming back in 2024, so reasons are enough to take those positive signs into account.
Foreigners have left China in large numbers, but the most important reasons were other than COVID-19, argues intercultural coach and consultant Gabor Holch in his video. Already before the coronacrisis, the exodus was taking place because economic growth was dropping, career opportunities for expats were diminishing and the expat community was already severely hit before the lockdowns, he argues.
China launched its first homemade cruise ship, as this part of the tourist industry struggles to stay afloat. But consumption expert Ashley Dudarenok sees a bright future for cruises from China, as this industry is still in its infancy in a country where many look for alternatives, she tells at state-owned broadcaster CGTN.
The number of unicorns, companies worth more than US$1 billion, exploded globally over the past three years, despite the slowdown caused by Covid-19, says Hurun chairman Rupert Hoogewerf during the release of the Global Unicorn Index 2023 by Hurun Research Institute, at the China Daily. Especially the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) did very well, the report says.
Now China suddenly started to retract its zero-Covid strategy, strategic analyst Ian Johnson looks back at how the country got itself into this unprecedented mess at the Prospect. The economic slowdown and high unemployment “are all underlying issues that actually make the government’s challenge greater than first appears,” says Ian Johnson.
The German government has become much more assertive about the country’s wheeling and dealing with China. Veteran China lawyer Mark Schaub visited over the past few weeks Berlin and Munich and felt the pulse of the German business communities toward China, he reports in his China Chit-chat. “Politicians in Germany have limited ability to influence or pressure German business. Consumers can be upset … but will become upset about something else 5 minutes later,” he writes.