Yesterday
China factory activity shrinks for third straight month
The official PMI index hit 49.4. The gauge has stayed below the 50-mark separating growth from contraction for all but three months since April 2023.
- Updated
- Shinjini Datta and Zhu Lin
July
Wong calls on China to rein in North Korea
The foreign minister acknowledged that countries all around Asia are beefing up their defence capabilities in response to China’s dramatic military expansion.
- Staff reporters
- Analysis
- Global economy
China’s low-tech manufacturers hanging on by their fingernails
China is shifting more to high-tech and EV manufacturing as its clothing, toy and furniture factories struggle against anaemic orders, trade restrictions and competition.
- William Langley
In tougher job market, aspiring bankers skip class to ‘stack’ internships
Goldman Sachs had 31.5 per cent more internship applications in Singapore this year, and graduate recruitment is now so competitive that “internships are where you can get the foot in the door”.
- Bernadette Toh
Meloni vows to ‘relaunch’ cooperation with China
Italy was the only Group of Seven country to join the massive Belt and Road Initiative, but it withdrew last year under US pressure over Beijing’s economic reach.
- Giselda Vagnoni and Laurie Chen
Quad expands maritime coverage to combat China aggression
Quad member countries will expand their maritime data sharing program as China’s aggression in critical waterways ramps up.
- Staff reporters
- Analysis
- Food & drink
How the Domino’s Japanese dream died
The pizza business failed to recognise that Japan’s explosive growth in lockdown was due to its convenient delivery service rather than a shift in consumer taste.
- Staff
Australians welcome Trump’s pro-crypto stand
Crypto traders say Donald Trump’s pledges to end the “persecution” of the industry and sack SEC chairman Gary Gensler are a good start.
- Updated
- Staff reporters
Australia doubles down on its subsea cable diplomacy in South Pacific
The rollout of undersea cables has become a major focus of the strategic competition between Western nations and China to gain influence in the Pacific.
- Updated
- Staff
US boosts military command in Japan amid ‘provocative’ China
US Defence Secretary Lloyd Austin says an upgrade to the US command in Japan is “one of the most significant developments in the history of our alliance”.
- Updated
- Mari Yamaguchi
China insists the world needs more EVs despite looming trade war
Beijing says Chinese manufacturers are helping the world fight climate change, rejecting US and European criticism of flooding the market with cheap cars.
- Updated
- Jana Randow
Indonesia moves to reduce China’s investment in nickel projects
Jakarta wants to help its industry qualify for tax credits under Joe Biden’s initiative to build a US electric vehicle supply chain.
- Updated
- A. Anantha Lakshmi
The stumbling block in Japan’s Silicon Valley dream
The island nation has joined the global race to grab a bigger slice of the semiconductor supply chain. But it has a unique problem.
- Jessica Sier
Alarms, double prices: Japan is getting fed up with foreign tourists
Angst is rising in Japan over what locals are calling an “over-tourism crisis” – and some towns are taking action.
- Jessica Sier
Luxury brands hit hard in China slowdown fear worse to come
Executives at European luxury brands including LVMH, Burberry and Hugo Boss may hope this is a blip, but it’s not clear how China will turn things around.
- Kit Rees and Verena Sepp
China cuts key interest rate after Xi’s top meet disappoints
China surprised markets with interest rate cuts on Monday, in efforts to boost growth in the world’s second-largest economy.
- Jessica Sier
China and the Philippines sign deal to avert clashes at sea
The rare deal with the Philippines sparks hope that similar arrangements could be forged by Beijing with other countries to avoid clashes while thorny territorial issues remain unresolved.
- Jim Gomez
Trump tells Taiwan to pay up for US defence against China
The presidential candidate said that America is “no different than an insurance company”, and accused the island of stealing semiconductor business.
- Chris Buckley
Luxury brands roll out huge discounts as Chinese rein in spending
The sales are being offered primarily by aspirational brands such as Versace and Burberry, as China’s once-voracious middle-class consumers become more frugal.
- Annachiara Biondi and Thomas Hale
China’s GDP miss set to boost stimulus calls from Third Plenum
China-watchers and investors are doubtful the Third Plenum policy gathering in Beijing will throw up any comprehensive reform.
- Jessica Sier
