Torbjørn Færøvik's Blog, page 294

Foreign investors are ditching China. Russia's war is the latest trigger

Investors are ditching China on an unprecedented scale as a cocktail of political and business risks, and rising interest rates elsewhere, make the world's second biggest economy a less attractive place to keep their money.China witnessed $17.5 billion worth of portfolio outflows last month, an all-time high, according to most recent data from the Institute of International Finance (IIF). The

'Voices of April': China's internet erupts in protest against censorship of Shanghai lockdown video

The shouts of locked-down residents demanding basic necessities, the cries of babies separated from their parents in quarantine, the pleas of a son repeatedly rejected by hospitals to treat his critically ill father, and the sobs of an exhausted local official who admits there is "no good policy" coming from higher authorities for her to explain to residents.These voices, charged with raw

This is the video Chinese censors don't want you to see or share

Voices charged with raw frustration, agony and desperation are among the montage of audio recordings featured in "Voices of April," a video documenting the harsh impact of Shanghai's nearly month-long lockdown. CNN's David Culver reports.Video

China expands Covid testing to almost all of Beijing’s 22 million residents

Beijing has swiftly expanded its Covid-19 mass testing from one district this week to most of the city of nearly 22 million, adding to expectations of an imminent lockdown similar to Shanghai’s. The Chinese capital began testing the residents of its most populous district, Chaoyang, on Monday. By the end of the day, even though only a fraction of the results had come out, the city decided to

Global stocks fall amid fears of new Covid lockdowns in China

Global stock markets fell sharply on Monday as fears of new lockdowns in China added to concerns over the health of the world economy. China’s benchmark share index posted its biggest one-day tumble since February 2020, after Beijing’s biggest district began mass testing for Covid-19 because of a rise in infections in the capital.The CSI 300 index fell by 4.9% to hit its lowest level since late

Fast, precise, too tough? Lockdowns risk stalling China’s economy

Veteran lorry driver Meng Hong has become an unlikely social media star in recent weeks. Since March, his short video talks about life on the road during Covid outbreaks on Douyin, the Chinese version of TikTok, have won him millions of likes.Most of Meng’s videos had been about “spreading positive energy” as he wrote in his account description. But on 13 April, he began to complain about what

How Russia and China Use Disinformation to Justify Internment Camps

After failing to conquer Ukraine's capital city of Kyiv, Russia has turned its focus toward the east of the country, staging an offensive campaign against the strategically significant city of Mariupol, which lies between Russian-annexed Crimea and the contested Donbas region. Part of Russia's strategy to exert dominance in this region has allegedly been to remove potential combatants from the

Layoffs at China’s Internet Giants Indicate a Deeper Dilemma

The wave of layoffs in Chinese internet companies is intensifying, with JD.com becoming the center of attention. According to a document that has been circulating online, JD.com’s layoffs cover a wide range of business lines. The e-commerce company’s subsidiaries such as Jingxi, JD Worldwide, JD Retail, JD Logistics, and JD Technology have set layoff ratios, most of which are between 10 to 30

Ukraine War Will Change China's Invasion Plans—Taiwan Defense Minister

The challenges faced by Russia throughout its invasion of Ukraine will force China to change its own invasion playbook, Taiwan's defense minister said on Wednesday. The consensus among military strategists is that, as with the Kremlin, the leadership in Beijing plans for a swift and decisive victory when it moves to annex neighboring Taiwan in the future. However, many believe Russia's lack of

Xi Jinping Pushes China's Own Vision for 'Global Security'

Chinese leader Xi Jinping has articulated plans to reshape the international order in his country's favor on the back of the war in Ukraine, proposing on Thursday a "global security initiative" that he suggests will prevent future conflicts. Russia's standoff with the West has become a proxy battle of political systems and ideologies in the eyes of leaders in Beijing. China leaning toward Russia—