Economy

Economists welcome the end of zero Covid in China but a huge human toll is to be feared

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Beijing’s abrupt dismantling of zero-Covid checks has been welcomed by economists, even as the country braces for the human impact of letting the disease spread through a vulnerable population. The leaders’ abrupt reversal in how they are handling the pandemic appears to have been sparked by protests against the controls that began last month, a …

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Bank of England set to spoil party mood with another interest rate hike

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Bank of England officials are expected to take their foot off the accelerator when they meet this week to decide how much the cost of borrowing should rise. The prospect of a year-long recession that would hit living standards, reduce business investment and damage the UK economy’s long-term productive capacity might have made them think …

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Even as China eases Covid rules, some young people still fear a bleak future

Even as China eases Covid rules, some young people still fear a bleak future

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Mandy Liu, a 21-year-old university student in Beijing, says anyone who has lived in China during the pandemic can see that the country’s future looks increasingly uncertain. Covid restrictions were stifling and job opportunities were grim. She is due to graduate with a degree in tourism management next year and has submitted more than 80 …

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7 unexpected ways Western sanctions have affected life in Russia

7 unexpected ways Western sanctions have affected life in Russia

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Western sanctions against Russia for its invasion of Ukraine may not have resulted in the dramatic economic collapse that some had predicted, but they still had a huge impact. Russia is now the most sanctioned country in the world and shortages of goods, limited access to services and other restrictions are slowly changing everyday life …

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The threat of runaway inflation is still relevant

The threat of runaway inflation is still relevant

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Illustration by Risto Avramovski Text size About the Author: Pierre Cramer is Senior Managing Director and Senior Portfolio Manager, Insurance Asset Management at SLC management. This comment reflects his personal opinions. The trajectory of risky assets in 2023 depends on how far the Federal Reserve is willing to go with its interest rate hikes to …

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China calls for oil to be swapped with yuan at Gulf summit in Saudi Arabia

China calls for oil to be swapped with yuan at Gulf summit in Saudi Arabia

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Former senior adviser to Secretary of State Pompeo Mary Kissel reacts to Xi Jinping’s meeting with the Saudi crown prince, telling ‘Mornings with Maria’ that it is an “important strategic move by China”. Chinese President Xi Jinping on Friday called on leaders of major oil-producing nations to conduct oil sales using the Chinese yuan as …

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