Day: July 15, 2023

In many countries, local governments can technically declare bankruptcy, but this is not feasible in China. China’s executive-dominant social structure, in which central power dominates absolutely, would lead to incalculable consequences if a government runs out of money or faces problems. In recent years, we have often seen news about pay cuts or wage arrears for civil servants and teachers, but these are sectors that do not greatly impact social stability. However, if wages for city management and public

Among this week’s headlines, China has the best racism—and Korean and Japan had better appreciate it. Plus there has been zero progress in U.S.-China relations, despite Treasury Secretary Janet Yellen’s literal kowtowing in Beijing.

China Update is about China economic and political news and analysis #chinaupdate 00:00 Introduction 00:11 Chinese Housing Market 03:03 Germany’s China Strategy 08:51 Chinese Industrial Policy

– Are your China investments safe? Three witnesses at a House hearing reveal the pitfalls of doing business in China. Curious about the real risks of doing business in China? One of the most connected businessmen in the country shares his biggest lessons. Secretary Yellen gets back to traveling, with India and Vietnam trips planned after her recent return from Beijing. And the battle against fentanyl: what’s the biggest obstacle? U.S. officials reveal a hidden force behind the deadly crisis. 00:00 Intro 00

Recently, another significant news has emerged from China’s textile and clothing industry. Dongguan Minghai Finishing & Dyeing Factory, a 30-year-old Hong Kong textile giant based in Dongguan, announced that due to financial difficulties, it would cease all business operations, and all employees were released from their contracts on June 30. Although the closure of Chinese textile and clothing factories has become the norm in recent years, the downfall of such a powerful and comprehensive factory has sent s