China

Is the Chinese economy for turning? The country has reported a ‘shock’ GDP growth of only 7.7 per cent for the fourth quarter. Yes, I know — if only Britain could get such shocks. But economists were expecting China to post an 8 per cent climb and, along with Fitch’s recent rating downgrade and today’s Moody’s lowering of the nation’s credit outlook, it’s hard evidence the world’s second largest economy is slowing. Analysts are falling over each other to slash their 2013 predictions. It’s obvious how much international markets have been relying on the Chinese engine to haul the global economy out of the mire. The GDP figures sent markets tumbling – from

Let us be clear — Beijing bankrolled this monster. As Kim Jong-un continues his bellicose bluster, now having moved a second missile to North Korea’s east coast, we cannot forget: it’s the Middle Kingdom that has for decades funded Pyongyang’s armies and kept this cruelest of regimes afloat. Forget Kim’s crankiness. North Korea is one of the most gruesome, warped dictatorships the world has ever seen. It’s estimated that is has up to a quarter of a million political prisoners, in gulags that are probably beyond human comprehension. When I worked as a journalist in Asia, news would filter through, now and then, of unspeakable acts done in the concentration

I found myself snorting with derision last night while watching a news bulletin about the Korean situation. The sight of a Gummy Bear like Kim Jong Un vowing to obliterate the United States was too much after a long day. But then I checked myself: what if, this time, the madmen are serious? It is, of course, a leap to say that a regime of such longevity is mad. There is cunning in Kim Jong Un’s apparent lunacy, which has been heightened yet again by news that he has closed the border to South Korean workers in a jointly-run industrial zone. Such actions are not created ex nihilo. Almost exactly

Superb piece of journalism on the BBC News from Lyse Doucet. A horrible story, of some appalling mass murder in Syria – told calmly and bravely; unpartisan, questioning and undoubtedly exposing the team to danger, for our benefit. The very best of journalism. You can see it here. Actually, the piece which followed Doucet’s wasn’t bad either – a fine report from Damian Grammaticus on the Chinese economic slowdown as seen from the ghastly city of Wuhan. I mention this because the corporation isn’t simply a handy base for collective noncing, overpaid middle managers and political bias. I write about that stuff often enough, probably too often, because if the

Not only the US, but China is gearing up to welcome a new President, in its case Xi Jinping. That’s not the only similarity between the two global powers. While nothing can beat America’s critical levels of debt (watch the media leap like lemmings over the term ‘fiscal cliff‘), the Middle Kingdom isn’t doing too shabbily at clocking up credit of is own. It’s a bit of a myth that Easterners love to save, as a report today from Standard Chartered shows. The explosion of a middle class means consumers want their shiny goods, and they want them now. China’s new leader will inherit an economy that’s 30 per cent more leveraged

The Nobel committee have delivered their verdict on the literature prize: Mo Yan is new laureate. Over at the books blog, I explain why this is an important decision politically. Yan is the first Chinese citizen to win the award, a reminder that the country’s culture influence is growing together with its political and economic power. In that sense, the award has recognised that we are living in a new age. Yan’s books have been banned from time-to-time by the Chinese authorities, but he is accused by many of being too close to the party line. Several human rights activists are appalled that he has won the prize. However, others

Today’s news on the Chinese economy – that growth has slowed for the sixth quarter running – is no big surprise: the question for months now has been whether China’s landing will be hard or soft, not whether there will be a landing. Indeed, some analysts feel that the numbers suggest a recovery in the second half, and both Asian and European markets are buoyed by apparent relief the data isn’t worse.  Official Chinese statistics have to be taken with a large pinch of salt, obviously. Looking at the headline GDP numbers isn’t enough, as we pointed out recently – electricity consumption is probably a better gauge. But wait –