ASIA: Shares of Didi plunged more than 7% in US pre-market trade on Friday after officials from seven Chinese government departments visited the ride-hailing giant’s offices to conduct a cybersecurity review. The ride-hailing giant was forced to stop signing up new users and its app was also removed from Chinese app stores. The Cyberspace Administration […]

ASIA: China’s central bank cut the amount of cash most banks must hold in reserve. The People’s Bank of China will reduce the reserve requirement ratio by 0.5 of a percentage point for most banks, according to a statement published Friday. That will unleash about 1 trillion yuan ($154 billion) of long-term liquidity into the […]

ASIA: The Biden administration on Tuesday warned businesses with supply chain and investment ties to China’s Xinjiang province that they could face legal consequences, citing growing evidence of genocide and other human rights abuses in the country’s northwest region. A joint statement by the State Department, Treasury, Commerce, Homeland Security, Labor and the Office of […]

ASIA: China will cut the amount of cash that banks must hold as reserves, releasing around 1 trillion yuan ($154.19 billion) in long-term liquidity to underpin its post-COVID economic recovery that is starting to lose momentum. The People’s Bank of China (PBOC) said on its website it would cut the reserve requirement ratio (RRR) for […]

QUESTION: Why is the Fed doing so much Reverse Repo? Do you think it will hit $2 trillion? JE ANSWER: I understand that people seem to be talking up the reverse repo activity as doom and gloom. The Federal Reserve has been raising interest rates and boosted the return to fight inflation. The reverse repo […]

ASIA: Japan’s government expects the country’s economy to rebound to pre-COVID-19 levels by the end of March 2022, with a government official touting a strong domestic vaccine rollout and robust growth as the main upward drivers. Revised estimates show that Japan’s economy shrank less over 2021 than initially predicted, with uprated figures showing a gross […]

ASIA:   China’s debt has grown dramatically over the past decade and is one of the biggest economic challenges confronting the ruling Chinese Communist Party, a major online news agency reported. The pandemic last year hit China’s economic growth and prompted authorities to make it easier for companies to get loans. As a result, China’s […]

ASIA: Washington’s effort to bring manufacturing from China to the US – so-called reshoring – is nothing but “empty talk” and the US will become increasingly dependent on the world’s second-largest economy for the foreseeable future, according to a top former Chinese economic official. Wei Jianguo, a former vice commerce minister said “The US will […]

ASIA: A report published by United Nations Development Programme highlights that trade shocks fueled by unilateral tariffs between the U.S. and China have undone three to five years’ worth of growth among global value chains in affected countries. The report found looking at the post-pandemic future of global value chains found that trade within those […]

ASIA: China’s imports from Saudi Arabia fell 21% in May from a year earlier but retained their top ranking among suppliers for the ninth month in a row, customs data showed on Sunday. Shipments from Saudi Arabia were 7.2 million tonnes last month, or 1.69 million barrels per day (bpd), data from the General Administration […]