AFP Asia Business
China’s ‘Singles Day’ shopping spree in spotlight as spending flags
China’s largest online shopping bonanza wraps up on Monday, with analysts and investors watching for signs that consumption is rebounding in the world’s second-largest economy after recent efforts by Beijing to boost activity.”Singles Day” — launched by tech giant Alibaba in 2009 — has ballooned into an annual blockbuster period for retail, with days of …
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Asian stocks drop as China support plan falls flat, bitcoin hits record
Asian markets fell Monday after China’s keenly anticipated plans to support the world’s number two economy fell short of expectations, while traders were also keeping tabs on Washington as Donald Trump puts his cabinet together after last week’s election win.Stocks rallied last week on hopes that a second Trump administration — supported by a Republican …
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Asia, the world’s economic engine, prepares for Trump shock
Some Asian countries stand to gain if US president-elect Donald Trump pushes ahead with his promised massive tariffs on China and triggers a new wave of factory relocations to the rest of the region.But a trade war between the world’s biggest economies would also destabilise markets everywhere, with Asia — which contributes the largest share …
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How China plans to cut hidden debt in massive shakeup
China has unveiled an ambitious plan to relieve public debt, aiming to turn local governments away from belt-tightening practices that have exacerbated a domestic downturn.Policymakers gathered in Beijing this past week approved a proposal to swap six trillion yuan ($840 billion) of hidden debt belonging to local governments for official loans with more favourable terms.Hidden debts …
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