Economy & Finance
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China’s e-commerce and live-streaming booms are opportunities for private equity, Carlyle Group says | South China Morning Post
E-commerce and live-streaming are fuelling growth in Chinese consumer brands as well as for multinational retailers, and in turn creating opportunities for savvy investors to turn a profit. That is according to Carlyle Group executives Patrick Siewert and Nina Gong, who spoke with the South China Morning Post in an …
Nigeria's Rising Insecurity Dangerous to Economy, Experts Warn
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Illegal construction turns lush green hillside at China’s Dianchi Lake into “concrete mountain” | South China Morning Post
A massive real estate project at Changyao Mountain on the east bank of Dianchi Lake in Kunming, Yunnan province, China, has turned a previously lush green hillside into a “concrete mountain”. Environmental inspectors said the project, a collection of more than 1,000 villas and flats in a conservation area, has damag…
China 2020 census records slowest population growth in decades | South China Morning Post
After delays and speculation, China has released the initial results of its once-in-a-decade population census, which reported that the country’s population increased to 1.412 billion in 2020. South China Morning Post political economy editor John Carter and reporter Sidney Leng unpack the news that China has record…
Finding fakes among the real Hermes, Prada and other luxury items in China’s second-hand market | South China Morning Post
A school in Beijing is teaching a skill that is increasingly in high demand across China: being able to differentiate bona fide luxury goods from bogus items. China is the world's second-biggest market for luxury goods after the US, and home to the only luxury market in the world that posted growth during the pandem…
Trade ‘only one part of the battle‘ in China-Australia dispute, says legal expert Bryan Mercurio | South China Morning Post
Trade is only one aspect of the current dispute between China and Australia, according to Bryan Mercurio, a professor of law at the Chinese University of Hong Kong who is a specialist in international economic law. Mercurio, who has legal expertise related to the World Trade Organization (WTO), tells the SCMP's poli…
3.4 million more people could go hungry as Myanmar political crisis worsens, UN warns | South China Morning Post
Food insecurity is rising sharply in Myanmar in the wake of a military coup and deepening financial crisis in the country, according to the United Nations. In an analysis released on April 22, 2021, the UN World Food Programme (WFP) warned that up to 3.4 million more people will go hungry in Myanmar in the next thre…
SPACs: Everything you need to know about the finance world’s new big thing | South China Morning Post
Special purpose acquisition companies (SPACs) have been around in some form for decades, but started booming during the Covid-19 pandemic. And the SPAC boom has been sensational. The shell companies designed solely to raise money from investors to buy assets – usually private, unlisted firms – raised more money in 2…
Hong Kong can't miss Greater Bay Area boat in post-Covid-19 recovery, Victor Fung of Fung Group says | South China Morning Post
Hong Kong must rebuild its post-pandemic economy by tapping opportunities from the rapidly growing economic power zone in the Greater Bay Area. That's according to Victor Fung, group chairman of the Fung Group and head of the local think tank 2022 Foundation. In an exclusive interview with the South China Morning Po…
Why car park ownership is big business in Hong Kong | South China Morning Post
Hong Kong not only has a reputation for having the world’s least-affordable housing market. Just finding a place to park a car can be an expensive endeavour because of the city’s limited land supply. In 2020, the average transaction price for a Hong Kong car park space was about HK$2.14 million (US$275,700), accordi…
The rise of Chinese smartphones | South China Morning Post
Chinese smartphones were once thought of as cheaply made, unreliable and not very durable. But in recent years, Chinese smartphone brands have made large inroads to take a bigger share of the global market. The Chinese models have earned a reputation for being powerful yet affordable, and because they support advanc…
China’s economy expands record 18.3 per cent in the first quarter of 2021 | South China Morning Post
China’s economy grew by 18.3 per cent in the first quarter this year compared to the same period a year earlier. The record expansion during January-March was skewed upwards given the comparison to the historic economic contraction of 6.8 per cent over the first three months of coronavirus-hit 2020. But analysts hav…
IMF projects stronger 2021 growth for US and China amid pandemic rebound | South China Morning Post
The International Monetary Fund (IMF) has raised its outlook for global economic growth, forecasting the global economy to expand 6 per cent in 2021, up from the 5.5 per cent growth forecast it issued in January. If the global economy meets the forecast, it would be its fastest expansion since the IMF records starte…
India’s daily coronavirus cases surpass 100,000 for first time | South China Morning Post
India reported its biggest daily jump in Covid-19 infections on April 5, 2021. The country saw 103,588 new coronavirus cases on the day, making it the second nation after the US to post more than 100,000 new daily infections. The biggest contributor to the surge has been Maharashtra, home to the financial hub of Mum…
VOA60 America- Race to get vaccinated amid a new COVID surge, positive jobs report
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Cuba develops its own Covid-19 vaccines amid economic crisis and US embargo | South China Morning Post
Despite a worsening economy and the US embargo, Cuba has managed to produce its own Covid-19 vaccines and medical equipment to fight the coronavirus pandemic. Local scientists developed five Covid-19 vaccine candidates, with two of them undergoing final clinical trials, starting in March 2021. If successful, the Com…
Mexico to Become Largest Legal Marijuana Market
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Mainland China’s ban on Taiwan’s pineapple exports hurts farmers despite surge in local consumption | South China Morning Post
Mainland China banned pineapple exports from Taiwan in March 2021, citing concerns about plant pests. The move has prompted many people on the island to consume more domestically-produced pineapples and pushed Taiwan’s government to seek out new overseas markets. 97 per cent of Taiwan’s pineapple exports were destin…
Second Canadian, Michael Kovrig, on trial behind closed doors in China on spying charges | South China Morning Post
Former Canadian diplomat Michael Kovrig stood trial on spying charges in Beijing on March 22, 2021. The proceeding follows the hearing of fellow Canadian Michael Spavor, who faces the same charges in the northeastern city of Dandong on March 19. Canadian diplomat Jim Nickel and representatives from 26 countries gath…
Island home to only four children: Nokdo underscores South Korean population crisis | South China Morning Post
The South Korean island of Nokdo is home to only four children. The once-vibrant fishing village on the island has been rapidly shrinking, underscoring a deeper demographic crisis that the nation has been struggling with. In 2020, South Korea became the world's fastest-ageing society, according to the World Bank.
China plans to add over 30 new airports to its aviation network by 2025 | South China Morning Post
Chinese aviation authorities have announced plans to add 30 new airports to the nation’s civilian aviation network over the next five years. The plan announced at a press conference on March 15, 2021, is part of the country’s quest to boost high-quality civil aviation development during the latest five-year plan per…
Cambodian dog slaughterhouse closes after killing more than one million dogs in 25 years | South China Morning Post
A notorious slaughterhouse in Cambodia that killed more than a million dogs over the span of 25 years was closed on March 4, 2021. In operation for more than two decades, the owner decided to shut down the business after an animal rights group offered him financial support to open a grocery store. According to the g…
Hong Kong’s UA Cinemas close after coronavirus pandemic puts ‘devastating pressure’ on chain | South China Morning Post
One of Hong Kong’s main film theatre chains, UA Cinemas, closed down on March 8, 2021, citing “unavoidable and devastating pressure” as a result of the measures taken to curb the spread of the coronavirus. The company, which had been in business since 1985, became the latest victim of the financial impact of the Cov…
Hong Kong financial secretary on Bond Connect, taxes and US-China relations | South China Morning Post
Financial Secretary Paul Chan Mo-po shared his thoughts on Hong Kong's plans for a bond connect scheme with markets on the Chinese mainland. Mr Chan also discussed taxation and the growing wealth gap in the city, and the prospects for US-China relations during the latest webinar in the Redefining Hong Kong series or…
Hong Kong Financial Secretary Paul Chan hits out at the Heritage Foundation | South China Morning Post
Hong Kong Financial Secretary Paul Chan, spoke about Hong Kong disappearing from the Heritage Foundation's "world’s freest economies" rankings after the Washington-based think tank removed the city from the annual league table. Mr Chan was speaking during the latest webinar in the Redefining Hong Kong series organis…
‘Covid generation’: students make Paris Fashion Week debut with virtual show | South China Morning Post
Paris Fashion Week opened on March 1, 2021 with a virtual show featuring collections made by 48 student designers from the French Institute of Fashion. The online presentation aimed to pay tribute to the “Covid generation” including many young people who face a tough job market amid the coronavirus pandemic. Social-…
Why more than 1.6 million Chinese people have left areas in the northeast to move south | South China Morning Post
A prolonged economic recession in China’s northeast is behind the movement of more than 1.6 million people from the region since 2013, according to Chinese media reports. Most of the people have relocated to southern provinces including Hainan and Guangdong chasing warmer weather and better jobs. In recent years, Yu…
What Hong Kong’s 2021-22 budget means for residents of the city | South China Morning Post
Hong Kong Financial Secretary Paul Chan unveiled the city’s 2021-22 financial year budget on February 24, 2021. The budget largely focused on reviving the Hong Kong economy which has been hit hard by the Covid-19 pandemic. Here’s how the plan is expected to directly affect the wallets of city residents.
Coronavirus: Covid-19 fuels illegal yaba meth trade in Thailand as pandemic halts exports | South China Morning Post
The Covid-19 pandemic has made illegal "yaba" tablets, a mixture of meth and caffeine, more accessible to people in Thailand. The country has long been a global gateway for exports of the drug. However, the business has been disrupted as Covid-19 halted international transport. This has led to a surge in cheaper yab…
Coronavirus pandemic causes labour shortages for Hong Kong oyster farmers | South China Morning Post
Often braving natural hazards such as typhoons, oyster farmers are facing even more challenges in 2021, thanks to the coronavirus pandemic. Travel restrictions have led to labour shortages and a smaller market for shellfish.
Kenyan Acrobats Endure Pandemic Economy by Performing in Nairobi Traffic
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Following the money behind Myanmar's coup - Asia Times
BANGKOK - By seizing absolute power, Myanmar coup leader Senior General Min Aung Hlaing has protected his and his family’s financial interests and the
SCMP Explains: China’s growing role in UN peacekeeping missions in Africa | South China Morning Post
Africa is where the United Nations has deployed seven of its 13 peacekeeping operations – which globally comprise more than 100,000 military, police, and civilian personnel. 80 per cent of China’s UN peacekeepers are on the continent. Most of the Chinese peacekeepers in Africa are assigned to four of the UN biggest …
Innovation | South China Morning Post
NIO has rivals as China’s EV and battery makers eye 1,000km range targetThe distance would extend the top-end of Tesla’s Model Y Long Range version by two-thirds, if the solid-state batteries live up to expectations. That would be a game changer in China, the world’s biggest electric car market.
VOA60 America- Dozens gather in New York to protest supression of Gamestop stock sales
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WHO officials inspect seafood market at epicentre of the original coronavirus outbreak in Wuhan | South China Morning Post
A team led by the World Health Organization (WHO) visited the Huanan seafood market in Wuhan, China, on January 31, 2021, as part of a long-delayed mission to trace the origins of the pandemic. 14 scientists and WHO officials are spending a month in China as part of the investigation.
WHO team probing coronavirus origins in China visits Wuhan wet market at epicentre of virus outbreak | South China Morning Post
A team of experts from the World Health Organization (WHO) visited Wuhan's Huanan seafood market on January 31, 2021, as part of their investigations into the origins of the coronavirus. The Huanan market was linked to the earliest known cluster of Covid-19 cases, but its precise role in the outbreak has yet to be d…
Coronavirus: WHO team visits Wuhan hospital as it probes origins of Covid-19 pandemic | South China Morning Post
A World Health Organization team has kicked off on-the-ground investigations into the origins of the Covid-19 pandemic in Wuhan, China. The experts visited the Hubei Provincial Hospital of Integrated Chinese and Western Medicine on January 29, 2021, which treated some of the first known Covid-19 patients in the init…
China’s freight trains to Europe hit all-time high amid coronavirus crisis in 2020 | South China Morning Post
The volume of China’s railway cargo to Europe has set records last year. China State Railway Group said 12,400 China-Europe freight train trips were made in 2020, up 50 per cent compared to the previous year. The train service is also used to transport medical supplies from China to Europe amid the Covid-19 pandemic…
China investment should follow Westphalian principles, says Nobel laureate Paul Romer | South China Morning Post
Companies entering China's market need to accept the notion of “Westphalian sovereignty”, according to Paul Romer, co-recipient of the 2018 Nobel Prize in economics. In an interview with the South China Morning Post, Romer said acknowledging along with acknowledging state sovereignty, companies get in step with the …
One Week In, Biden Reverses Trump Policies, Addresses COVID, Economy, Climate Change
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