Pretty much everyone agrees that China’s Q1 growth figure was a miss. At 7.7 per cent, it sits below consensus (8 per cent) and down from the previous quarter (7.9 per cent).
As you’d expect, analysts have been scrambling to make sense of it all, with reasons given ranging from dead pigs to cold weather. But one thing keeps cropping up: the luxury crackdown. Continue reading »
Nothing spells trouble like dead pigs in a river. This week, more than 6,600 pig carcasses have been pulled from the river that runs through the heart of Shanghai, China’s financial hub, eliciting public disgust and anger.
However the dead pigs of Shanghai are hardly the worst thing to hit China’s rivers. After all, more than 39 per cent of the water in China’s main rivers is already so toxic that any human contact should be avoided, according to a 2011 government study. Shanghai’s main river, the Huangpu, is pristine by comparison – with or without a few decaying pig bodies. So perhaps it shouldn’t have been surprising that city authorities swiftly declared that the little porkers had not affected the safety of Shanghai’s tap water. Continue reading »
Recently there has been a lot of attention paid to an essay on tax reform by the head of the tax department at the Ministry of Finance in Beijing, which mentions two hot-button words: carbon, and tax.
But does this mean that China, the world’s biggest emitter of carbon, will adopt a serious carbon tax? According to Su Wei, director general of climate change at the powerful economic planning ministry, the answer is: probably not anytime soon. Continue reading »
A picture is worth a thousand words. And China’s extreme air pollution problem – now “beyond crazy bad” as one blogger put it, really needs to be seen to be believed.
In that spirit, beyondbrics has put together some images of the toxic smog that has hit swathe of northern China this month, causing flights to cancel, prompting runs on air purifiers and face masks and even inspiring one entrepreneur to sell fresh air in a can. Continue reading »