China’s fate in the hands of its tightfisted consumers

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It was a bleak year for the Chinese economy in 2022. Strict zero-Covid measures and regulatory crackdowns on the real estate sector and digital platforms slowed economic growth significantly. The annual real GDP growth of 3% was significantly lower than the official target of 5.5%. Chinese President Xi Jinping has indicated that the economy is […]Continue Reading

Rising specter of a quantum computing arms race

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The future development of quantum computing may result in a “quantum arms race” if the United States and China continue to impose rules in the game-changing realm merely to suit their own national needs.   In a “Quantum Summer” scenario, governments and companies will join hands to develop the technology for commercial use, according to a […]Continue Reading

Chinese provinces spent at least US.6 billion on COVID-19 curbs in 2022

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Declining state land sales revenue has also exacerbated local governments’ financial woes, which were eroded by China’s feeble growth, weak tax income and stringent COVID-19 restrictions. Analysts at Moody’s expect negative credit conditions for local governments in 2023 because of ongoing weakness in land sales revenue, persistently high fiscal deficitsContinue Reading