Asia Economy, China

Asia Economy, China

China’s economy has not recovered 100% from Covid, says former central bank advisor

China’s economy has not recovered 100% from Covid, says former central bank advisor

6/17/2021 2:03:00 AM

China ’s economy has not recovered 100% from Covid, says former central bank advisor

Chinese policymakers are 'overly aggressive' in containing debt levels, said Li Daokui, an economics professor at Tsinghua University.

.It comes as debt continued to rise in the Chinese economy over the past year as authorities tried toto tide through the challenges caused by Covid-19.Chinese authorities had tried to curb further growth in borrowingeven before the pandemic, fearing that elevated debt levels would threaten the health of the world's second largest economy.

Americans' optimism about country's direction over next year drops nearly 20 points since May: POLL Rubio rips DHS discrepancy between Cuba, Mexico: Where was Mayorkas' warning for Rio Grande crossers? What to know about antibody tests in a post-vaccine world

Risk of capital flight from ChinaLi also warned that the relative strength of the U.S. economy increases the risk of capital flight from China and other parts of the world. Capital flight occurs when money or assets leave one country when another offers better investment returns or opportunities.

"Not only foreign money formally invested in Chinese economy will look ... for alternative in going back to the U.S., but also a lot of Chinese domestic money will be lured away from the Chinese economy. Read more: CNBC »

China's Zhengzhou begins cleanup after deadly storms

Residents of the storm-ravaged central Chinese city of Zhengzhou have begun shoveling mud from their homes and hauling away wrecked cars and piles of destroyed belongings following floods that killed at least 33 people in the city and surrounding areas

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U.S. likely claims hottest place on Earth as heat tightens grip on more than 100 millionDeath Valley, California, reaches 124ºF, making it not only the hottest spot in the US but also likely one of the hottest, if not the hottest, locations in the world, as temperatures rise 10 to 30 degrees above average across the western US.

Dwayne Johnson Tops PEOPLE's List of 100 Reasons to Love America: 'I've Been a Lucky Guy'Dwayne 'The Rock' Johnson talks to PEOPLE about topping the list of 100 Reasons to Love America and his new movie Jungle Cruise TheRock Ya but he has completely sold out to the ccp just like John Cena... its sad what money will do. Complete joke...planted story...pay-for-play for sure. He is a doper...these kinds of articles normalize illegal drug use to our kids....Horrible choice. Blake & Gwen 🥰😍

How Chanel's Fragrance Has Stayed Iconic for 100 YearsThe most famous scent in the world has been around for a century and remains one of the most mysterious. Because it's timeless & smells wonderful! Does it smell good? I honestly have never got a whiff of it

US Bans Bringing In Dogs From More Than 100 Countries Over Rabies RiskThe one-year ban was announced after a spike in puppies being denied entry because they were too young to be vaccinated. I'm sure dog worshipers are sobbing. What kind of a life will they have after they are returned? This is shameful.

100 Black-Owned Businesses To SupportOne of the best ways to effect change in a capitalist society is to vote with your pocketbook. If that is not a racism, than I don't know what else as if difference in ethnicity would make a difference in business ownership. this is the definition of racism

US Bans Bringing In Dogs From More Than 100 Countries Over Rabies RiskThe one-year ban was announced after a spike in puppies being denied entry because they were too young to be vaccinated.