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August 31st, 2023

China's missing economic boom

A growth model based on infrastructure and real estate is grinding to a halt

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The Big Story

China in charts: Missing economic boom points to slowing post-COVID growth

Economists say industrial model based on infrastructure and real estate is grinding to a halt

Shenyang in China's northeastern Liaoning province, where half-finished luxury mansions lie empty and unsold, is a stark symbol of China's crippled housing market and the post-COVID economic boom that wasn't. 
The world continues to see an increase in coal-fired capacity as more facilities are built in Asia and elsewhere.
Datawatch

World struggles to break coal habit despite looming climate risk

Demand for black rock surges on Ukraine war, post-COVID recovery and heat waves

South Korean President Yoon Suk Yeol, left, with U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida at Camp David on Aug. 18.
Opinion

A new era of Korea-U.S.-Japan trilateral cooperation has begun

Normalization of Seoul-Tokyo ties is changing the regional strategic landscape

Malaysian Prime Minister Anwar Ibrahim waves to the press in Kuala Lumpur on Aug. 12: The election reaffirmed that Malaysians want better governance.
Opinion

Anwar must listen to Malaysia's voters

After election rebuke, prime minister must attend to structural issues

Sea urchin from Japan, front, is sold at a store in Beijing in July. China's ban on Japanese seafood products has dealt a major blow to its neighbor's fisheries industry.
The Nikkei View

China's ban on Japanese seafood is absurd

Malicious economic coercion will result in loss of trade partners

Employees during lunch at a Foxconn plant in Henan province, China on Jan. 6. China’s tech industry usually ramps up hiring in summer, but this year is different.
Business Spotlight

Tech suppliers in China skip seasonal hiring rush amid weak demand

Lack of usually lucrative temp work this summer also blamed on shifting supply chains

Huawei originally unveiled the HarmonyOS as an operating system for connected devices, before U.S. sanctions pushed the company to modify the OS for mobile phones.
Huawei crackdown

Huawei mobile OS Harmony falls out of tune with growth

U.S. sanctions hurt ability to release 5G phones and capture market share

Starlux is expanding its routes serving the U.S., starting a Los Angeles route in April. (Photo courtesy of Starlux Airlines)
Transportation

Taiwan's Starlux Airlines flies high by betting on luxury

Big pandemic-era investments finally lift upstart carrier into the black

Hilton is scheduled to open a Waldorf Astoria hotel in Hanoi in 2025, the first under the luxury brand in Vietnam. (Image courtesy of Hilton)
Travel & Leisure

Hilton moves ahead with luxury brand push in Asia-Pacific

Hotel company to bring Waldorf Astoria brand to India, Malaysia as demand grows

New Prime Minister Srettha Thavisin's Pheu Thai Party carried much of the fertile northeast in this year's election, but Move Forward's inroads raise the pressure to follow through on lofty economic promises. (Nikkei montage/Source photos by Ken Kobayashi and Getty Images)
Asia Insight

Thai PM Srettha faces pivotal test over pledges to party heartland

Pheu Thai promised northeasterners hefty handouts and better days; can it deliver?

The strategic bomber Boeing B-52 Stratofortress, with a wingspan of 56 meters, has been operated by the United States Air Force since the 1950s. (U.S. Air Force)
Defense

Inside STRATCOM, the core of U.S. nuclear deterrence

China's military buildup adds pressure to replace aging assets

In a 2018 survey of 1,000 young people, over half said they did not want to study abroad, citing financial and language barriers. (Photo by Mayumi Tsumita)
Education

Japan expands study abroad stipends to 30,000 students

Recipients to increase by 70% under initiative to broaden pool of global talent

A shipping container yard in Karachi: The EU is Pakistan's primary export market.
Politics

Pakistan blasphemy law and violence risk EU trade status

Recent legislation, church attacks could have economic consequences, experts say

A view from the balcony of Saint Stepanos Monastery: The Armenian monastery is located 15 kilometers from the city of Jolfa in the northwestern Iranian province of East Azerbaijan. (All photos by Tala Taslimi)
Life

Traveling off the beaten path in Iran

Remote attractions are becoming more accessible despite tension with the West

People line up outside Rengatei, a popular restaurant in Tokyo's Ginza district, on March 16. Japan's food service industry has come roaring back after a punishing few years. 
Tea Leaves

No reservations in Japan's restaurant scene

Booking seats has become a daunting challenge in top dining destinations