Boosting consumption and disposable income should take priority over restoring the nation’s fiscal reputation.
On July 16, China announced that in the second quarter of this year, its economy grew 3.2 percent, a remarkably strong showing at a time when much of the global economy is in tatters because of the ongoing effects of a global pandemic. The figure suggested that China, once again, could lead the global economy during an economic and financial crisis.
But a closer reading of the data points to a much darker picture, for China and the rest of the world — including signs that structural problem
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For much of the past two decades, Europe's luxury market has counted on the ferocious appetite of Chinese consumers to bolster its bottom line. But foreign luxury brands are facing a reckoning in China. Not only is China’s economy entering a more uncertain phase, giving consumers pause, but homegrown designers and labels are also gaining ground. The questions now are which European brands can still rely on China, and how China's domestic designers can capture a share of the pie.
The Treasury’s top international official gives an inside-the-room account of the latest talks between Treasury Secretary Yellen and the Chinese leadership, including the U.S.’s efforts to get Beijing to address overcapacity and economic imbalances, how...
A podcast about how the two nations, once friends, are now foes.
Hear why things are so complicated now. Host Jane Perlez, former New York Times Beijing bureau chief, talks with diplomats, spies, cultural superstars like Yo Yo Ma, and more to understand why the dangers are so high, and why relations went awry.