Torbjørn Færøvik's Blog, page 148

How Much Will New Stimulus Improve China’s Economic Outlook?

After months of downbeat economic news and little action from the Chinese government, Beijing has announced a slew of stimulus measures. At the end of September, the central bank announced interest rate cuts and a 500 billion renminbi(U.S.$71.30 billion) program to fund stock purchases by brokers, funds, and insurers, causing an immediate surge on China’s markets. Other stimulus measures

China sees sharp drop in marriages amid economic downturn

The number of couples getting married in China fell rapidly in the first nine months of 2024 by nearly 1 million registrations compared to last year, official statistics show, amid an economic slump and changing attitudes toward marriage. China registered 4.747 million marriages in the three quarters ending Sept. 30, a drop of 943,000 year-on-year.First marriages have plummeted by nearly 56% over

EXPLAINED: How do Asia’s authoritarian states pick leaders?

In a world bracing for a close U.S. presidential election result this week, a large swathe of Asia picks its leaders without suspense -- and mostly with little popular participation. Chinese leader Xi Jinping was confirmed by the National People’s Congress in March 2013 with 2,952 votes for, one against, and three abstentions. Last year the rubber stamp parliament voted unanimously to give him a

EXPLAINED: What is China’s United Front and how does it operate?

Evidence is mounting of clandestine Chinese influence operations in the heart of America. Just in the last few months, a former aide to the governor of New York state and her husband were arrested for alleged illicit activities promoting the interests of China; a Chinese democracy activist was arrested and accused of spying for China; and a historian was convicted of being an agent for

Where Companies Are Going After They Leave China

Following economic reforms that provided tax breaks, subsidies, and other incentives and thereby opened China's proverbial doors to foreign investment, China swiftly became the world's most popular manufacturing hub. Low labor costs and a robust infrastructure, including roads, ports, and airports that make it easy to transport goods in and out of China, and a strong technology sector that placed

Rising challenges for foreign firms in China

China remains critical for multinational firms. It is the world’s second-largest economy and its largest manufacturing location and trading nation. China is also among the world’s greatest beneficiaries of foreign direct investment (FDI). As of the mid-2010s, approximately a third of China’s GDP could be traced to foreign-invested enterprises (FIEs), their supply chains, and the consumer spending

In Retrospect: Remarks by President Barack Obama at Town Hall Meeting with Future Chinese Leaders

Remarks by President Obama in Shanghai, 2009:«This is my first time traveling to China, and I'm excited to see this majestic country. Here, in Shanghai, we see the growth that has caught the attention of the world -- the soaring skyscrapers, the bustling streets and entrepreneurial activity. And just as I'm impressed by these signs of China's journey to the 21st century, I'm eager to see those

Vietnam accuses China of ‘illegal detention’ of South China Sea fishermen

Vietnam has accused the Chinese coast guard of “seriously violating” its sovereignty in the Paracel islands, which both countries claim, by detaining a number of Vietnamese fishermen and their fishing boats in the area. A foreign ministry spokesperson told a press briefing in Hanoi on Thursday that the Vietnamese government had “resolutely” protested and demanded China “immediately release all

Across Asia, crimes against journalists keep mounting

In the decade since the U.N. first launched its International Day to End Impunity for Crimes against Journalists, nearly 800 journalists have been killed across the globe. Many more have faced violence, threats, harassment and lawfare, with the perpetrators often going unpunished. This is the situation in war zones like Myanmar, where journalists find themselves trapped in crossfire. But it is

China honors late general linked to Cultural Revolution cannibalism

The ruling Chinese Communist Party has enshrined the ashes of a general who presided over a Cultural Revolution massacre that included cannibalism of those deemed “enemies of the people” by late supreme leader Mao Zedong. On Oct. 24, officials reburied the ashes of People’s Liberation Army founding general and former Guangxi regional party chief Wei Guoqing – 35 years after his death. The