china_economy

Online fake news and hybrid campaigns increase ahead of European elections, investors are concerned about President Lula’s interventions in the economy, and China’s factory activity has expanded for the first time in six months.

Mentioned in this podcast:

Europe battles ‘avalanche of disinformation’ from Russia

Luiz Inácio Lula da Silva steps up interventions in Brazil’s largest companies

China’s factory activity adds to signs of recovery

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Zach St. Louis, Ethan Plotkin, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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China’s economy has a tumultuous week, the campaign fundraising battle heats up for presidential candidates, and a ring of smugglers at our northern border is discovered. Get the facts first with Morning Wire.

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Ford, GM, Stellantis Hit by Strike Amid Wage Dispute With UAW

2) Byron Allen Makes $10 Billion Bid for ABC, Other Disney Networks

3) Chip Designer Arm Jumps 25% in Debut Win for Owner SoftBank  

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The threat of China overtaking the U.S. as the world’s leading economic power may be reversing, a new report ranks a prestigious university the worst school for free speech, and schools across the U.S. see a rise in student absences. Get the facts first with Morning Wire.

Your morning briefing, the business news you need in just 15 minutes. 

On today's podcast:
(1) Beijing is intensifying efforts to stimulate the economy and support the currency, as investor concerns continue to grow.

(2) Former US house speaker Nancy Pelosi says relations between the US and China are being hindered by a lack of shared values.

(3) It's alleged that JPMorgan disclosed more than $1 billion in suspicious transactions linked to Jeffrey Epstein to the US government, after his death.

(4) European aviation regulators say a small London company has been supplying bogus spare parts to fix top-selling jet engines 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Fed officials suggest inflationary risks may drive further interest rate hikes.

(2) China's housing slump is much worse the official data shows.

(3) Argentina's leading presidential candidate tells Bloomberg he wants to close the country's central bank.

(4) London's luxury home sellers cut asking prices to keep deals alive. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) China's central bank cuts rates as the country's economic headwinds multiply.

(2) US Treasury Secretary Janet Yellen warns China's slowdown will 'spill over' to the US.

(3) A Georgia Grand Jury indicts Donald Trump for attempting to overturn his election defeat.

(4) A technical issue leaves the Bank of England unable to process high value transactions for 6 hours.

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Richard Koo literally wrote the book on balance sheet recessions, or the idea that large levels of debt can weigh on future growth for years and even decades to come. Now, the Nomura Research Institute chief economist sees a similar risk emerging in China. The country has been struggling with vast levels of debt and slowing economic growth in the wake of the Covid-19 pandemic. In this episode, Koo discusses the signs he sees that a balance sheet recession is already underway as China's companies shy away from borrowing more money for future investment. He also suggests some ideas for just what China's authorities should do about it.

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Huawei is lobbying to build the Malaysian government’s 5G network, China will aim for an economic expansion of “around 5 per cent” for 2023, Israel has been gripped by a bitter battle between supporters and opponents of proposed judicial reforms, and US President Joe Biden will soon issue his first presidential veto. 

Mentioned in this podcast:

Huawei fights for role in Malaysia’s 5G rollout

China’s military budget outpaces economic growth in shift to security

Xi Jinping set to overhaul China’s economic policy team at watershed congress

The angry divide in Israel over the rule of law and religion

Joe Biden expected to issue first presidential veto in anti-ESG vote

Credit: SCMP Clips: China targets to boost gross domestic product by ‘around 5%’ in 2023  

Credit: Reuters: Police in Israel use stun grenades on judicial reform protesters

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Read a transcript of this episode on FT.com

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The implosion of Evergrande continues. And nobody knows exactly how the losses will be distributed. What will be the impact on creditors or people who have put down payments on homes that haven't been built yet? And what will the ripple effects be on other credits? In addition to the financial fallout, there's also a macro angle. Real estate is extremely important to the Chinese economy for all kinds of reasons. And what happens in China has effects on all of its trading partners. To explain what comes next, we spoke with Peking University Finance Professor and Senior Carnegie Fellow Michael Pettis.

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