Wondering where to go on your next holiday? These abandoned farmhouses in China are the newest spot | South China Morning Post
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Newest first · UTC+11:00China Eyes Spain in Drive to Conquer European EV Market
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· Alfonso Beato
Nigeria Faces Possible Inflation Surge as New President Ends Petrol Subsidy
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· Timothy Obiezu
Turkey’s Erdogan wins presidential election, extending rule into third decade | South China Morning Post
Turkey’s election chief declared the incumbent Recep Tayyip Erdogan winner of the run-off presidential election on May 28, 2023, extending his increasingly authoritarian rule into a third decade. Erdogan’s victory came despite rampant inflation in the country, which is still recovering from the deadly February earth…
China’s C919 passenger jet completes maiden commercial flight from Shanghai to Beijing | South China Morning Post
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China's great bond market opening leap forward - Asia Times
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· William Pesek
Japan’s ‘dark gig’ economy linked to series of brazen daylight robberies | South China Morning Post
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Australian trade minister visits China, 'hopeful' for trade resolution | South China Morning Post
Australia's trade minister arrived in Beijing on May 11, 2023, ahead of meetings with his Chinese counterpart. as both countries seek to stabilise diplomatic relations. Australian wine, beef, barley, coal, seafood and timber exports to China were hit by trade curbs in 2020. Canberra expressed hope “that with some go…
Are Corporate Profits Driving Global Inflation?
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· Veronica Balderas Iglesias
Chinese buyers flock to Thailand’s property market in search of security following pandemic | South China Morning Post
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274 million Chinese take a holiday: why ‘golden week’ 2023 was different | South China Morning Post
The 2023 “golden week” holiday period which includes May Day did more than just reveal how badly people in mainland China wanted to travel and visit tourist sites. Beijing-based reporter Luna Sun discusses the numbers and has a look at an island hoping to surpass Hong Kong as a free trade and travel destination, whi…
Japan’s small-sized firms struggle to offer higher pay to keep up with inflation | South China Morning Post
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VOA60 America - US Regulator Seizes First Republic Bank, to Sell Assets to JP Morgan
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· VOA
China set to drill Asia's deepest crude-oil well in Xinjiang | South China Morning Post
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North Korea’s food crisis: How hungry are people in the hermit kingdom? | South China Morning Post
There are growing concerns among rights groups and aid agencies about North Korea’s chronic food shortages. Many experts who keep an eye on the reclusive state say the problem is growing and deaths due to starvation are likely to continue. Some see signs that the country is in the grip of its worst famine since the …
Underprivileged class bearing the brunt of Hong Kong’s rising inflation | South China Morning Post
A host of price hikes in everything from food to electricity rates and looming increases in transport fares in Hong Kong are squeezing the city’s poor. The Post spoke to two underprivileged women in the far-flung suburb of Sheung Shui in the New Territories, to understand how inflation is making even basic groceries…
Singapore government doubles residential property tax for foreigners to 60 per cent | South China Morning Post
A surprise measure announced by the Singapore government on April 26, 2023, will double property tax, known as the additional buyer’s stamp duty (ABSD), for foreigners to a whopping 60 per cent. The hike is intended to ensure affordable housing for locals and cool the city state’s property market, which has seen pri…
An unwinnable conflict? The US-China trade war, 5 years on | South China Morning Post
Five years since the start of the trade war between the United States and China, the conflict shows no signs of being anywhere near ending. After tariffs worth hundreds of billions of US dollars were imposed, it is also questionable whether either country has moved any closer to “winning”. The Post spoke with politi…
ChatGPT: the Hong Kong stock market, China’s military and re-creating the dead | South China Morning Post
Holly Chik looks at how people in China are using AI and ChatGPT. A dead woman holds a conversation with her grandson; a surveillance satellite operates without human control; and the PLA considers “cognitive warfare”. In Hong Kong, a stock brokerage with thousands of millennial and Gen Z investors prepares to launc…
Zimbabwe President, World Bank Tell Tales of Different Economies
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· Columbus Mavhunga
Apple opens its first retail store in India | South China Morning Post
Apple opened its first bricks-and-mortar store in India on April 18, 2023, in Mumbai. The move follows the launch of its online store in the country in 2020 and after a delay in the opening of the physical store in 2021. Apple has a 3 per cent share of India's smartphone market, while the country has become a manufa…
Putin meets China’s new defence chief in Moscow, hails military cooperation | South China Morning Post
Russian President Vladimir Putin met with China’s new defence chief Li Shangfu in Moscow on April 16, 2023, with both sides hailing closer military cooperation between the two nations. The meeting followed Chinese President Xi Jinping’s visit to Moscow in March. Li said China was willing to work with Russia to stren…
Listen to Her: Why are women retiring with 25 per cent less wealth than men? | South China Morning Post
A career working on a male-dominated trading floor of environment convinced Hong Kong-based entrepreneur Christine Yu of a need to close the financial investment gap between men and women. Yu is co-founder of Sophia, a financial education platform with a mission to get more women to learn about money and investing. …
Songkran sees return of water fights and tourists in hopeful signal of Thailand’s recovery | South China Morning Post
Tens of thousands of revellers, including hordes of foreign tourists sporting floral shirts and plastic water guns, descended on the streets of Bangkok on April 13, 2023, for the biggest traditional new year gathering since the pandemic. The country is celebrating the return of its annual Songkran water festival. It…
In Beijing, German FM warns escalation on Taiwan could be ‘worst-case scenario’ for global economy | South China Morning Post
German Foreign Minister Annalena Baerbock has warned an escalation over Taiwan would mean a "worst-case scenario" for the global economy. Baerbrock was speaking in Tianjin, China, on April 13, 2023. She struck a different tone to French President Emmanuel Macron, who warned the European Union last week not to “get c…
Afghan teachers commute to school on inner tubes, amid worsening financial crisis in the country | South China Morning Post
Every morning, Bili High School’s teachers use inner tubes to cross the river to school on the other side of the river in Eastern Afghanistan. They have asked the government to build a bridge or provide boats for years but without feedback. Decades of war have destroyed Afghanistan’s economies, and its financial cri…
911 recording shows Louisville bank shooter’s mother warned police of attack | South China Morning Post
The Louisville Police Department has released recordings of 911 calls related to the April 10 bank shooting in the US state of Kentucky, which left five people dead and nine wounded. One call was from the shooter’s mother. The gunman, who was also killed, worked at the bank and live-streamed the massacre on Instagra…
China, Australia reach deal to resolve barley tariff dispute as Canberra suspends WTO case | South China Morning Post
Australia has reached an agreement with China to resolve their dispute over barley imports, with Canberra suspending its case at the World Trade Organization (WTO) over 80.5 per cent tariffs Beijing imposed on imports to China of Australian barley. The tariffs nearly wiped out imports of the grain by the world’s lar…
Chiang Mai listed among world’s most-polluted cities as smog chokes northern Thailand | South China Morning Post
Dangerous levels of smog have hung heavy over the city of Chiang Mai, in northern Thailand, for weeks as farmers in neighbouring Laos and Myanmar set fire to fields and forests to prepare for the coming growing season. Chiang Mai was named the world’s third-most-polluted city by the air monitoring website IQAir as a…
Affluent retirees lead China's booming RV market as nomadic lifestyle becomes trendy | South China Morning Post
Recreational vehicle travel has become increasingly popular among China’s middle class. In 2015, China had about 30,000 RVs, but in 2021, the number grew to 283,000. Many retirees have become RV owners and begun adopting a nomadic lifestyle despite it going against social norms in China.
Japan to offer military aid to ally nations in historic departure from post-WWII military pacifism | South China Morning Post
Japan has said it will offer friendly foreign nations financial assistance to help them bolster their defences. The April 5, 2023, announcement marked Tokyo’s first unambiguous departure from constitutional rules that forbid the country from providing international aid that will be used for military purposes. The mo…
California Mother, Daughter Open Free Farmers Market for People in Need
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· Angelina Bagdasaryan
India’s influencers celebrate ‘brown beauty’ amid calls for make-up inclusivity | South China Morning Post
Indian make-up influencer Debasree Banerjee has attracted fans across the world with a simple mantra: “brown is beautiful”. Banerjee’s audience includes women who share her South Asian features and deeper complexion, a look which has historically been ignored by the global cosmetics industry. But India’s beauty and …
7-year-old among 12 dead in stampede for food aid in Pakistan, highlighting economic crisis | South China Morning Post
Umer Zada stood over the coffin of his seven-year-old son Saad, offering prayers with other mourners on April 5, 2023. Saad was among a dozen people killed in a stampede at a food distribution centre on March 31, 2023, when a hungry crowd of hundreds began to panic and push to collect food. The incident is the deadl…
Massive fire rages through clothing market in Bangladesh capital | South China Morning Post
A massive blaze raged through a retail complex with 3,000 shops in Dhaka, Bangladesh, on April 4, 2023. There were no immediate reports of casualties but almost all shops were destroyed. Bongo Bazar market is popular among bargain shoppers looking for Western fashion brands. The market sells clothes produced in the …
VOA60 America - First Citizen bank to acquire failed Silicon Valley Bank
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· VOA
Indonesia gears up for holy month of Ramadan amid devastating inflation | South China Morning Post
The Muslim holy month of Ramadan is being observed from March 22-April 21, 2023. But many Indonesians have been finding it difficult to prepare new clothes and food this year. The price of food, especially rice and cooking oil, has been soaring, amid a shortage of crude palm oil. The higher costs have sparked public…
Thousands of jobs at risk after UBS’ US$3.2 billion takeover of Credit Suisse | South China Morning Post
Tens of thousands of jobs are at risk following UBS’s US$3.25 billion rescue of Credit Suisse. The merger between the long-time Swiss rivals was brokered by the Swiss National Bank, the country’s central bank, over the March 18-19, 2023, weekend to stave off a developing international banking crisis. UBS officials s…
Sri Lanka secures long-awaited US$2.9 billion IMF bailout after China-backed debt-restructuring plan | South China Morning Post
Sri Lanka secured a US$2.9 billion bailout from the International Monetary Fund on March 20, 2023, a crucial step for the bankrupt nation to stabilise its economy and begin restructuring its debt. Sri Lanka had been grappling with its worst economic crisis since 1948, and defaulted on its overseas debt for the first…
Hong Kong boy band Mirror releases first English single in attempt to march into the global market | South China Morning Post
Hong Kong band Mirror launched their first English single “Rumours” on March 17, 2023, following challenges such as the global pandemic and a concert mishap. Edan Lui, member of Mirror, said they had learned a lesson from the previous event, and will continue to perform professionally.
Baidu unveils China’s answer to ChatGPT, sends stocks tumbling | South China Morning Post
ChatGPT has generated immense interest in China after its launch. On March 16, 2022, Chinese tech giant Baidu unveiled “Ernie Bot”, China’s first answer to OpenAI’s ChatGPT. But instead of testing the chatbot in real-time, Baidu introduced the new tech over PowerPoint slides showing what the bot is capable of, which…
Beijing welcomes formal ties with Honduras, Taipei expresses ‘grave concern’ | South China Morning Post
Honduras has begun the process of establishing formal relations with Beijing, the country’s president announced on March 15, 2023. The move would end Honduras’ ties with Taiwan, as Beijing does not maintain diplomatic ties with countries that recognise the self-ruled island. The Honduran government said the decision…
CBRE issues contrarian call to buy office, hotel and retail real estate in Asia Pacific in 2023
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Oil spill in central Philippines threatens fishermen’s livelihood after fishing ban imposed | South China Morning Post
Thousands of fishermen in the Philippines have been banned from fishing and ordered to stay ashore as authorities struggled to contain an oil spill from a tanker that sank in waters south of the capital Manila. The Princess Empress, carrying 800,000 litres (210,000 gallons) of industrial fuel oil, suffered engine tr…
China's 'two sessions': Premier Li Keqiang emphasises achievements, economy in final work report | South China Morning Post
Outgoing Chinese premier Li Keqiang delivered his last work report on the opening day of the National People’s Congress in Beijing on March 5, 2023. In Li’s swan song, the report highlighted the achievements of the government. He also dedicated a significant portion of the report to addressing the Chinese economy. L…
China targets to boost gross domestic product by ‘around 5%’ in 2023 | South China Morning Post
China’s top legislature, the National People’s Congress (NPC), opened its annual meeting on March 5, 2023. Outgoing premier Li Keqiang delivered his final government work report, saying China aims to boost its gross domestic product by “around 5 per cent” in 2023. The world’s second-largest economy grew by only 3 pe…
Caged for 20 years, 5 bears from Vietnam’s illegal bile extraction farm are free | South China Morning Post
Five moon bears were rescued from an illegal bile-extraction farm on February 22, 2023. Bear bile continues to be used in traditional medicine, even though Vietnam has outlawed the extraction process, with some farms still operating illegally on the black market.
Pakistani children drop out of school to boost family income, amid country’s economic crisis | South China Morning Post
Pakistan’s economy is on the brink of collapse due to years of fiscal mismanagement and political instability. Inflation and low working wages have forced youths such as 16-year-old Nadia Amin to drop out of school to contribute to the family’s income. Millions of Pakistani families like Nadia’s are feeling the pain…
Pakistan’s second-hand clothing trade shrinks under pressure of inflation | South China Morning Post
Soaring inflation in Pakistan has cast a shadow on the country’s second-hand clothing trade, as the plummeting value of the rupee national currency pushes up the price of imported goods. Customers and storekeepers alike say they will no longer be able to afford the skyrocketing prices if the rupee remains weak.