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Chinese officials do not accept that the country has an excess supply problem, even as they acknowledge – in private – that domestic consumption is weak. But excess supply and insufficient demand are two sides of the same coin. Chinese policymakers also seem to think that supply creates its own demand, when it is usually the other way round.
TOKYO (AP) — Japan and India on Saturday decried remarks by U.S. President Joe Biden describing them as “xenophobic” countries that do not welcome immigrants, which the president said during a campaign fundraising event earlier in the week.
Indian foreign minister Subrahmanyam Jaishankar rejected US President Joe Biden’s comment that “xenophobia” was hobbling the South Asian nation’s economic growth, The Economic Times reported on Saturday.
The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, lifting hopes that the Federal Reserve will be able to cut interest rates in the coming months.
PALO ALTO, California -- Apple CEO Tim Cook called China "the most competitive market in the world" as the tech company reported lackluster quarterly results Thursday due to weakening demand in the world's second-largest economy and stiff competition from Huawei Technologies.
Australia’s Treasurer Jim Chalmers on Wednesday unveiled changes to foreign investment rules, describing growing threats from intensifying geopolitical tensions.
In the view of the US, China’s expanding industrial capabilities could spell disaster for international markets, and Chinese overproduction might undermine the very foundations of economies around the world. Yet, through a different lens, what the US decries as overcapacity might instead be seen as the fruit of foresight, efficiency and an unerring commitment to scale.
This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.