BEIJING: China’s factory gate inflation hit a 13-year high in August, driven by roaring raw materials prices despite Beijing’s attempts to cool them, putting more pressure on manufacturers in the world’s second-largest economy. The producer price index (PPI) rose 9.5% from a year earlier in August, the National Bureau of Statistics (NBS) said yesterday, faster than the 9.0% increase tipped in a Reuters poll and the 9% reported in July. That was the fastest pace since August 2008. China’s economy has recovered strongly from last year’s coronavirus slump but has been losing steam recently due to domestic Covid-19 outbreaks, high raw material prices, tighter property curbs and a campaign to reduce carbon emissions. Commodity prices have been on a tear in recent months, hurting the bottom lines of many mid and downstream factories. China’s coal prices soared to a record high on Tuesday over supply concerns as major coal regions started fresh rounds of safety checks. Earnings at ... » Learn More about China’s factory inflation hits 13-year high
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Since 2010 Chinese architecture website archcy.com has been holding an annual vote for the “Top 10 Ugliest Buildings” in China. The website said that the goal is to: “spark discussion about the beauty and ugliness of architecture and promote architects’ social responsibility”. As China has undergone rapid urbanisation over the past 40 years, numerous ambitious projects have ended up as follies and eyesores. Many have been denounced by the public – from the “giant trousers” structure of the China Central Television headquarters in Beijing to the half-Temple of Heaven, half-US Capitol building in nearby Hebei province. The list has proved so successful at drawing attention to bad architecture it has even prompted a government response. In April this year, China issued a ban on “ugly architecture”, nearly seven years after President Xi Jinping famously criticised the “weird” buildings popping up across China over the last few decades. The National Development and Reform Commission, ... » Learn More about ‘Welcome to hell’: Voting begins for China’s ‘top 10 ugliest buildings’
On September 9, 2021, the National Assembly of Cambodia ratified the bilateral free trade agreement (FTA) with China, which aims to increase the trade of goods by reducing and eliminating tariffs and non-tariff barriers. The Cambodia-China FTA extends across a wide range of sectors, including trade, tourism, investment, transportation, and agriculture. China will provide duty-free status to some 98 percent of imports from Cambodia whereas Cambodia has agreed to exemptions of up to 90 percent of its imports from China. Through the CCFTA, Cambodia hopes to increase bilateral trade with China to US$10 billion by 2023 , up from US$8 billion in 2020. This is a timely development for Cambodia as businesses continue to reel from the European Union’s (EU) withdrawal of the Everything but Arms (EBA) status in 2020. The EBA status was withdrawn because of what the EU perceived as serious and systemic violations of human rights in Cambodia. The EBA provides 49 of the world’s poorest ... » Learn More about Cambodia Ratifies Free Trade Agreement with China
Follow us on Telegram for the latest updates: https://t.me/mothershipsg Japanese netizens have taken to social media to criticise the Chinese authorities' decision of closing down "Tang Little Kyoto" -- a Japanese-themed attraction in China, after Chinese netizens labelled the place as an attempt of Japanese "cultural invasion". The replica of Kyoto was shut within "a mere few days of opening", due to pressure from Chinese netizens, Chinese state-controlled media Global Times (GT) reported. 29 businesses, including a Panasonic electronic store, were reportedly affected, as the local government ordered the place to close temporarily after just two weeks of opening, according to Nikkei Asia . Before the closure, rumours about the management only allowing Japanese businesses to operate were rife, until the management debunked the false accusations, as per GT . The RMB6 billion (S$1.24 billion) project consists of commercial lots, 83 home-style hotel units ... » Learn More about Japanese & Chinese netizens have lots to say about closure of ‘Tang Little Kyoto’
It is common knowledge that a rising China has a more assertive foreign policy and is inclined to show its strength to achieve its geopolitical objectives. Sovereignty issues are especially sensitive and the policing of such issues in China extends beyond the diplomatic arena. A number of multinationals in China recently learnt the repercussions of political incorrectness as they operate in an increasingly nationalistic and powerful Chinese consumer market. Which multinationals were implicated? According to the Financial Times , a string of foreign corporations have been either publicly reprimanded or issued warnings by regulators for geographical descriptions that challenge China's position on long-standing territorial disputes from Taiwan to Tibet. These corporations include: US hotel chain Marriott International Spanish fast-fashion retailer Zara U.S. carrier Delta Air Lines Australian carrier Qantas US medical device company ... » Learn More about Marriott, Zara and Qantas among foreign firms who failed to get their Chinese geography right
Since the arrival of Covid-19 vaccines , a crucial but largely unspoken question has loomed large for countries looking towards returning to pre-pandemic life: How much sickness and death will occur even after nearly everybody has been jabbed? Possible answers to that question are coming into view as a growing number of territories get close to their maximum vaccination rates. Although varying considerably, the emerging picture points to a post-vaccinated future in which societies may have to accept significantly more Covid-19 deaths than those caused by the flu to move beyond restrictions such as lockdowns and border closures. While European countries with high vaccination rates have largely returned to normal life, living with Covid-19 could prove more difficult to accept for Asia-Pacific economies that avoided even flu-level death rates by sealing their borders. “My personal feeling is that, after brainwashing people in many places with this fight against the virus and ... » Learn More about From Singapore to Hong Kong, how many will die even after most are jabbed?