China has long pursued growth by public spending, even after the payoff has faded. Cities stuck with the bill are still spending — and cutting essential services.
Category: Shanghai (China)
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China’s Cities Are Buried in Debt, but They Keep Shoveling It On
The New York Times – Business: -
China’s New Premier Needs to Revive Growth. How Far Will Loyalty Get Him?
The New York Times – Business:Li Qiang’s business-friendly reputation could bolster confidence in China’s economy. But he is stepping into a role with diminished power under Xi Jinping.
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Why China’s Economy Faces a Perilous Road to Recovery
The New York Times – Business:Years of lockdowns took a brutal toll on businesses. Now, the rapid spread of Covid after a chaotic reopening has deprived them of workers and customers.
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As Cases Spread, China’s Low Covid Death Toll Convinces No One
The New York Times – Business:China’s murky statistics are fueling widespread public distrust. Its narrow definition of Covid deaths “will very much underestimate the true death toll,” the W.H.O. says.
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China’s Abrupt Covid Pivot Leaves Many Without Medicines
The New York Times – Business:Millions are desperate to get their hands on fever-reducing drugs and antivirals such as Pfizer’s Paxlovid as infections across China outpace supplies.
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In FTX Collapse, Binance Sees a Chance to Become the New Face of Crypto
The New York Times – Business:Sam Bankman-Fried and Changpeng Zhao were archrivals. With FTX gone, Binance, the world’s biggest crypto exchange, is trying to step into the void.
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How Will China Turn Its Economy Back On? The World Is About to Find Out.
The New York Times – Business:Strict “zero Covid” curbs have been smothering growth. After easing them, Beijing faces the twin challenges of rising caseloads and wary consumers.
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China Eases ‘Zero Covid’ Restrictions in Victory for Protesters
The New York Times – Business:Beijing’s costly policy of lockdowns has pummeled the world’s second-largest economy and set off mass public protests that were a rare challenge to China’s leader, Xi Jinping.
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How China’s Police Used Phones and Faces to Track Protesters
The New York Times – Business:After a weekend of protests, the authorities in China are using the country’s all-seeing surveillance apparatus to find those bold enough to defy them.
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Protests Stretch China’s Censorship to Its Limits
The New York Times – Business:Days later, videos of chants and confrontations are still visible on the Chinese internet. It’s a sign of how a groundswell outmatched the world’s best internet control system.
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China Protests Over ‘Zero Covid’ Follow Months of Economic Pain
The New York Times – Business:President Xi Jinping’s unbending approach to the pandemic has hurt businesses and strangled growth, squeezing the world’s second-largest economy.
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Proud, Scared and Conflicted. What the China Protesters Told Me.
The New York Times – Business:In more than a dozen interviews, young people explained how the events of the past few days became what one called a “tipping point.”