China Watch Thread

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caltrek
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China's Economy is Sputtering
by Matt Phillips and Bethany Allen-Ebrahimian
April 19, 2022

https://www.axios.com/authors/baebrahimian

Introduction:
(Axios) The largest single driver of global economic growth — China — is stalling as its "zero COVID" policy collides with a massive virus outbreak and large-scale lockdowns.

Why it matters: Many are focusing on inflation and the war in Ukraine, but the path of the world economy and global financial markets this year largely hinges on China's economic and public health.

Driving the news: A slew of Chinese economic data out Monday confirmed that the world's second-largest economy has sputtered as the government combats the worst outbreak of COVID so far on the mainland.
  • Retail sales tumbled 2% during March. Compared to March 2021, retail sales were down 3.5%, the worst annual drop since 2020.
  • The country's unemployment rate rose to 5.8%, above the government's target of 5.5% and the worst since May 2020, when the country was first emerging from lockdowns after the initial virus outbreak in Wuhan.
  • Industrial production slowed sharply in March, as did investment in the domestic real estate sector, which has been a key driver of the country's growth.
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Bye-Bye Huawei! Honor has surpassed its master conquering China
April 29, 2022

A few years ago, Huawei was potentially one of the few smartphone makers that could dethrone Samsung at the top of the smartphone market. However, in light of the US Ban that started in 2019 back under Trump’s administration, the company had its dream destroyed. Since 2019, Huawei has been trying to survive in an industry where it can’t use any US-related technology or software. Huawei resisted a few years, but things started to become more problematic at the end of 2020. The US Ban was extended to the relationship between TSMC and Huawei. TSMC was the big supplier of SoCs for the Kirin chipset division. Without chips, the company took a big hit in its smartphone manufacturing. In November 2020, Huawei decided to sell Honor to a Chinese state company, to fully concentrate on Huawei-branded smartphones. The honor was then able to revive as an independent brand, free of the band and its consequences. After a very good comeback in 2021, the company has officially overcome Huawei in the domestic market.
https://www.gizchina.com/2022/04/29/bye ... ing-china/
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Mental...




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Hong Kong's John Lee: Ex-security chief becomes new leader

3 hours ago

John Lee has been named Hong Kong's new leader, after a closed voting process in which he was the sole candidate.

His appointment is being widely seen as a move by the Chinese government to tighten its grip on the city.

Known as a staunch Beijing supporter, Mr Lee oversaw the sometimes violent crackdowns on pro-democracy protestors in 2019.

Mr Lee replaces outgoing chief executive Carrie Lam, who had served since 2017.

Hong Kong's leaders are selected by a closed-circle committee of around 1,500 members, who are nearly all pro-Beijing loyalists - although this time there was only one contender for them to elect.

https://www.bbc.co.uk/news/world-asia-china-61345463


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wjfox wrote: Sun May 08, 2022 8:00 am Hong Kong's John Lee: Ex-security chief becomes new leader

3 hours ago

John Lee has been named Hong Kong's new leader, after a closed voting process in which he was the sole candidate.

His appointment is being widely seen as a move by the Chinese government to tighten its grip on the city.

Known as a staunch Beijing supporter, Mr Lee oversaw the sometimes violent crackdowns on pro-democracy protestors in 2019.

Mr Lee replaces outgoing chief executive Carrie Lam, who had served since 2017.

Hong Kong's leaders are selected by a closed-circle committee of around 1,500 members, who are nearly all pro-Beijing loyalists - although this time there was only one contender for them to elect.

https://www.bbc.co.uk/news/world-asia-china-61345463


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Reuters
Corruption at it's finest, this rate Hong Kong will be officially part of China by the end of the decade.
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weatheriscool
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President Xi ‘suffering from deadly brain aneurysm’ as he faces coup over devastating Covid lockdowns, reports claim
https://www.thesun.co.uk/news/18556168/ ... -lockdown/
Imogen Braddick

12:30, 13 May 2022Updated: 16:04, 13 May 2022

PRESIDENT Xi Jinping is suffering from a deadly brain aneurysm, reports claim - as he faces a coup over China's devastating Covid lockdowns.

The Chinese president, 68, reportedly wanted to be treated with traditional medicine rather than undergo major surgery after he was rushed to hospital.
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weatheriscool wrote: Fri May 13, 2022 4:47 pm President Xi ‘suffering from deadly brain aneurysm’ as he faces coup over devastating Covid lockdowns, reports claim
https://www.thesun.co.uk/news/18556168/ ... -lockdown/
Imogen Braddick

12:30, 13 May 2022Updated: 16:04, 13 May 2022

PRESIDENT Xi Jinping is suffering from a deadly brain aneurysm, reports claim - as he faces a coup over China's devastating Covid lockdowns.

The Chinese president, 68, reportedly wanted to be treated with traditional medicine rather than undergo major surgery after he was rushed to hospital.
This is either fake news, or a small number of news organizations have scooped the rest of the world. It should be interesting to see if more mainstream outlets pick this up.
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weatheriscool
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Chinese leader Xi defends record to UN human rights chief
Source: AP

By KEN MORITSUGU

BEIJING (AP) — Chinese leader Xi Jinping defended China’s record to the top U.N. human rights official Wednesday, saying each nation should be allowed to find its own path based on its particular circumstances and criticizing those countries that lecture others on human rights and politicize the issue.

“Through long-term and persistent hard work, China has successfully embarked on a path of human rights development that conforms to the trend of the times and suits its own national conditions,” Xi told U.N. human rights chief Michelle Bachelet in a video call, according to an online report by state broadcaster CCTV.

Bachelet is in the middle of a six-day visit to China that includes stops in Xinjiang, a remote northwestern region where the Chinese government has been accused of human rights violations and genocide against Uyghurs and other ethnic groups. Her trip has been criticized by the U.S. and others, who think that China will limit whom she can talk to, stage manage her trip and use it for propaganda purposes.

The CCTV report didn’t mention Xinjiang or the Communist Party’s often harsh treatment of dissidents and activists and ethnic groups in Tibet and Inner Mongolia.


Read more: https://apnews.com/article/united-natio ... 7a1b006525
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