China’s corona lockdowns are damaging the economy more than expected

Disrupted supply chains View of containers and cranes in Yangshan port. (Photo: dpa) Peking The Chinese economy is suffering more than feared from the ongoing lockdowns in metropolises like Shanghai. This is indicated by Purchasing Managers Indices (PMI) for the manufacturing and service sectors, which were published on Saturday. Accordingly, economic activity in April fell […]

How China’s corona policy is endangering the global economy

Peking China’s steadfast adherence to its strict zero-Covid strategy is increasingly jeopardizing global growth. The risk is “perhaps even greater than the war in Ukraine,” warns Alicia Garcia Herrero, chief economist for Asia-Pacific at French investment bank Natixis. The Chinese strategy means that even in the case of individual corona cases, entire blocks of flats, […]

Another Chinese real estate developer is not servicing the bond

Evergrande real estate in Qidong Another real estate developer in China defaulted on Monday. (Foto: Bloomberg) Düsseldorf After the heavily indebted real estate company Evergrande, another Chinese property developer has run into financial difficulties. The Fantasia Holdings Group was unable to service an outstanding bond and due loans on Monday, according to a stock exchange release […]