in singapore, it says it is working with the financial institutions here where the funds have gone and it is going to take firm action against any financial institution whose money laundering policies may not be up to scratch. indeed, it is very rare here in singapore. it has among one of the lowest crime rates in the world and the police say they are going to have zero tolerance going forward for any use of singapore as a safe haven. how concerned should we be about the chinese economy? it s been a difficult week there we ve seen a fall in house prices, disappointing retail sales, and a decision by the government to stop publishing youth unemployment figures which hit a record high injune. responding to calls for more government stimulus, the chinese premier li chung said the country would work to achieve its economic targets . meanwhile, there s a crisis at one of china s top asset managers zhong zhi enterprise group which is fuelling concerns that a slump in the property se
the two biggest economies in the world behaving very differently, the us economy is too strong, retail sales figures we had this week much better than expected and what thatis better than expected and what that is leading to is an expectation among investors interest rates are going to stay higherfor longer interest rates are going to stay higher for longer and markets don t like interest rates staying hi. at the same time in china we have a real slowdown in the economy, go back to the beginning of the year the hope was the chinese economy would bounce back from covid 19 very strongly, it has not done that. we have had very weak figures, retail not done that. we have had very weakfigures, retailsales, weak figures, retail sales, industrial production weakfigures, retailsales, industrial production very weak, property sector data and the chinese authorities are pulling interest rates down in order to stimulate the economy, most worrying they stopped reporting on youth unemployment figur
business report. i am monica miller. we begin in china. and with the mounting signs that the world s second largest economy is slowing down. 0m a surprise move on tuesday, beijing said it was no longer going to release youth unemployment figures, which reached record highs injune. meanwhile, the country s central bank has also cut the cost of borrowing in an attempt to boost growth. and on the internationalfront, beijing is trying to encourage more foreign investment at a time when relations between china and the us are strained. daniel picard is an international trade and security expert and he says the biden administration s de risking strategy poses yet another threat to foreign businesses operating there. i think the biggest challenge right now is the clear message from the united states government coming right out of the white house that they re encouraging us businesses to essentially what they call de risk from china, that they re encouraging us businesses to limit investment
can foreign investment sold china s growing economic blooms? we look at beijing s attempt blooms? we look at beijing s attemthohn overseas capital attempt john overseas capital and attemthohn overseas capital and whether foreign businesses are buying it. and the bespoke handmade suit makes a post pandemic comeback, proving that never go out of style. welcome to asia business report. i am monica miller. we begin in china. and with the mounting signs that the world s second largest economy is slowing down. om a surprise move on tuesday, beijing said it was no longer going to release youth unemployment figures, which reached record highs injune. meanwhile, the country s central bank has also cut the cost of borrowing in an attempt to boost growth. and on the internationalfront, beijing is trying to encourage more foreign investment at a time when relations between china and the us are strained. daniel picard is an international trade and security expert and he says the biden administratio
i am monica miller. we begin in china. and with the mounting signs that the world s second largest economy is slowing down. 0m a surprise move on tuesday, beijing said it was no longer going to release youth unemployment figures, which reached record highs injune. meanwhile, the country s central bank has also cut the cost of borrowing in an attempt to boost growth. and on the internationalfront, beijing is trying to encourage more foreign investment at a time when relations between china and the us are strained. daniel picard is an international trade and security expert and he says the biden administration s de risking strategy poses yet another threat to foreign businesses operating there. i think the biggest challenge right now is the clear message from the united states government coming right out of the white house that they re encouraging us businesses to essentially what they call de risk from china, that they re encouraging us businesses to limit investment in china, especiall