Category: Economics

Economics News

Young People in China Face Job-Hunting Challenges, Leading to a Surge in Graduate Applicants and Resulting in Insufficient Dormitory Space

The difficulty of job hunting for young people in China has led to a significant increase in undergraduate students applying for graduate studies, causing an unprecedented demand for dormitory space. Many universities, unable to keep up with the rapid expansion of student numbers, have stopped providing dormitories for certain groups of master’s students, especially professional master’s students. This has forced students to find off-campus housing, often at a considerable cost. The situation highlights the challenges of balancing educational expansion with the infrastructure needed to support it, prompting universities to seek alternative solutions, including renting and purchasing off-campus accommodations. The issue also reveals an opportunity for social capital and long-term rental apartment companies to enter the university dormitory market, although this business model has not yet gained significant attention in China.

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Foreigners in China Face Challenges Spending Money Due to Mobile Payment Hurdles

The difficulty foreigners face in making payments in China has garnered attention, with mobile payment hurdles posing significant challenges. Efforts are being made to facilitate payments for foreigners, including improving POS machine coverage and mobile payment services while ensuring security and privacy. The goal is to create a more convenient and inclusive payment environment for visitors and expatriates in China.

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What Does Warren Buffett Buy When “The Market Acts Like a Casino”?

In his 46th annual letter to shareholders, Warren Buffett, at 93, reflects on the market’s current state, likening it more to a casino than in his youth. Despite this, Berkshire Hathaway’s investment strategy remains unchanged, emphasizing avoidance of permanent capital loss. The company reported a significant profit in 2023, with key investments in five major companies including Apple and Bank of America. Buffett acknowledges mistakes, particularly in underestimating regulatory changes affecting utilities. He highlights the enduring value of investments like Coca-Cola and American Express and reaffirms his commitment to long-term investments in Japanese trading companies and other sectors. Buffett also addresses succession, introducing Greg Abel as ready to be CEO, and emphasizes Berkshire’s resilience and commitment to fiscal conservatism.

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A Korean Professor Speaks Out: “The Whole World Except for South Korea Disregards China, But China Has Already Overlooked South Korea”

South Korean Professor Kim Do-nan highlighted a unique perspective on the dynamics between South Korea and China, noting South Korea’s diminishing regard for China despite China’s lack of attention towards South Korea. Historical influences and changing global standings have shaped perceptions, with South Korea’s alignment with the U.S. and China’s economic rise playing key roles. Kim’s visit to China and observations about Chinese advancements and the youth’s focus underscore the need for South Korea to update its understanding of China’s position in the global hierarchy.

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With the Same Population of 1.4 Billion, Why Does India Export a Large Amount of Food While China Imports Worldwide?

China and India, each with populations exceeding 1.4 billion, exhibit stark contrasts in their agricultural practices and policies. China has achieved self-sufficiency in staple crops and continues to import a variety of foods to diversify its dietary options and safeguard against food security challenges. Despite lower productivity and ongoing nutritional challenges within its own population, India has become the world’s largest exporter of rice, leveraging agriculture as a crucial economic pillar to address foreign exchange shortages and economic needs. This divergence highlights the complex interplay between agricultural technology, geographic conditions, economic strategies, and the imperative of food security in shaping national policies.

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Chinese Netizens Compare AI Development Between China and the US: While the US Advances in Technology, Tsinghua PhD Li Yizhou Sells AI Online Courses, Making 50 Million Yuan from a 199 Yuan Course

The recent buzz around Li Yizhou, a Tsinghua PhD, selling an AI online course for 199 yuan and making 50 million yuan within a year, highlights a significant discussion in China regarding the development of AI between China and the US. While the US focuses on advancing technology, Chinese talents like Li Yizhou are capitalizing on the AI hype by selling educational courses. Despite his background in the Academy of Fine Arts and being unrelated to AI or deep learning, Li’s entrepreneurial success and ability to market his course reveal a trend where knowledge and expertise are packaged for mass consumption. This situation underscores a broader concern about the prioritization of quick profits over substantial technological development and research in China’s tech environment.

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Apple Quietly Launches Vision Pro in Moscow Two Years After Exiting Russia

Two years after Apple halted sales in Russia due to the Russia-Ukraine conflict, its products, including the new Vision Pro, are still available in Moscow, contradicting official statements. This availability is partly due to parallel import mechanisms and high consumer demand, despite significantly higher prices. The situation highlights the complexities of global trade and sanctions, with certain products still reaching Russian consumers through alternate channels.

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Malaysia’s High-Speed Rail Dilemma: Japan Withdraws from Bidding, Unwilling to Be the ‘Fall Guy’ Anymore

Japan withdraws from bidding for the Kuala Lumpur-Singapore High-Speed Rail project amid concerns over financing and risks. The project, initially contracted to China and later halted by Malaysia for political reasons, faces uncertainties as Malaysia seeks private financing. Japan’s decision reflects its cautious approach following previous international railway project challenges.

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The Plight of Chinese Entrepreneurs – Exclusive Interview with Hanhou Founder: Sold Over 300 Properties to Clear 1.5 Billion Debt

Wang Guoan, founder of Hanhou, shares his tumultuous journey of dealing with 1.5 billion yuan in debt, including selling over 300 properties. Once living in luxury, Wang now faces the reality of his financial downfall, striving to keep his company afloat and maintain his entrepreneurial spirit despite being labeled a “deadbeat debtor.”

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BYD Takes the Lead in Global Electric Vehicle Sales, Surpassing Tesla in Quarterly Deliveries

BYD has overtaken Tesla in global electric vehicle sales, marking a significant milestone in the automotive industry. With 526,409 electric vehicles sold in the last quarter, BYD’s diverse and affordable product range in China played a crucial role in its success. Tesla, despite exceeding its annual target, did not meet the higher production potential projected by CEO Elon Musk.

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