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International worries as China's consumption and economy slows

International worries as China's consumption and economy slows

Business
Picture China's economy and you might be thinking of massive factories, gigantic airports or train stations built from scratch in 24 hours. For another view, you could follow Xu Liqiang as he threads the streets of Beijing in a beaten-up tuk-tuk (motorised rickshaw).Xu is 21 years old and a "kuaidi" (express delivery) driver. Each day 100 million packages are delivered in China and they're delivered by people like him. It's part of a boom in Chinese consumption that has driven growth in global GDP over the last decade.But today, work is slow. "After Double Eleven [an online shopping festival], the packages have been getting less and less with time," he tells me.Xu lives in a dormitory provided by his employer with three other kuaidi drivers. He moved to Beijing from Shanxi ...
How worried should we be about China's economy?

How worried should we be about China's economy?

Business
The cracks in China's economy appear to be widening, with signs of weakening growth amid a background of trade tensions. Adding to the worries, China's stock market was the world's worst performer last year, ending with a loss of 28%. This week Apple said slowing sales in China meant it would not meet sales expectations, triggering sharp falls on global stock markets.The tech giant isn't alone. A string of other companies have issued warnings recently over China's slowdown and the impact of the trade war with the US.Among those are carmakers such as General Motors, Ford and Fiat Chrysler. Luxury vehicle maker Jaguar Land Rover has also warned of slowing Chinese sales. US carmakers hit by tariff disputes ...
China's Huawei faces new setbacks in Europe's telecom market

China's Huawei faces new setbacks in Europe's telecom market

Technology
The U.S. dispute with China over a ban on tech giant Huawei is spilling over to Europe, the company's biggest foreign market, where some countries are also starting to shun its network systems over data security concerns. Some European governments and telecom companies are following the U.S.'s lead in questioning whether using Huawei for vital infrastructure for mobile networks could leave them exposed to snooping by the Chinese government. Bans in Europe could significantly increase the financial pressures on Huawei. They would also cost Europe tens of billions of dollars as the region looks to build up "5G" networks, which are meant to support a vast expansion in internet-connected things, from self-driving cars to factory robots and remote surgery. "Europe is still divided over Huawei...
China's answer to Las Vegas has one of the world's biggest per-person economies

China's answer to Las Vegas has one of the world's biggest per-person economies

Finance
Macau, known as China's answer to Las Vegas, is one of the wealthiest places in the world. In fact, according to the International Monetary Fund, it's expected to surpass Qatar in 2020 as the location with the highest gross domestic product per person on a purchasing power parity basis. Macau is located on China's southern coast about 40 miles from Hong Kong. Both cities are known as special administrative regions, which is a designation that grants them distinct rules and economic freedoms from the rest of China. Over the years, Macau has become a hotspot for China's h...
US jitters at China's tech push underlies trade war

US jitters at China's tech push underlies trade war

Technology
Shenzhen is the poster boy for China's economic progress. Forty years ago it was just a cluster of small villages lying across the water from bustling Hong Kong, before it was designated China's first "special economic zone".Now it's a city of some 11 million people and a technological powerhouse - the next Silicon Valley, according to many. Image: The technological powerhouse of Shenzhen is viewed as the next Silicon Valley That also means it's the front line in the incipient US-China tariff war, which is as much about technology as it is trade.:: China accuses 'hoodlum' Trump over trade warShenzhen built its name on manufacturing cheap electronics for export.Huaqiangbei is an electronics market that sprawls across st...