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China’s economic system is founded on the reforms carried out in the 1990s. With the unification of dual exchange rates in 1994, markets became the main tool to set prices. Many state-owned enterprises were either privatised or went bankrupt. Since then, privately managed businesses have consistently gained ground.
BERLIN (AP) — The Berlin Zoo has much anticipated news: Meng Meng the panda is pregnant again, months after the first giant pandas born in Germany were sent to China.
Australian wages rose at their slowest pace in a year in the June quarter, falling short of expectations, while softer gains in the private sector suggest the labor market was easing.
People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anemic, government statistics show.
BANGKOK/YANGON -- Myanmar's minority resistance forces are expanding their areas of control in the country, in some cases imposing strict rule on various local ethnic groups, as the forces' lack of democratic ideals casts a pall over hopes for stability in the region.
MANILA -- The Philippine and Vietnamese coast guards have completed joint training exercises near the West Philippine Sea, a not-so-subtle message to a mutual rival vying for control of the South China Sea.
New York City's art museums are among the most popular in the world — the Metropolitan Museum of Art (known as the Met) and Museum of Modern Art (MoMA) attracted 5.4 million and 2.8 million visitors, respectively, in 2023, according to The Art Newspaper.
Consumers grew more confident in July that inflation will be less of a problem in the coming years, according to a New York Federal Reserve report Monday that showed the three-year outlook at a new low.