China’s population falls for second year amid record low birth rate, Covid-19 deaths
High childcare and education costs put many Chinese couples off having children, while uncertainty in the job market discourages women from pausing their careers. Gender discrimination and traditional expectations that women assume the caretaker role in the family exacerbate the issue.
Further denting appetite for baby-making in China in 2023, youth unemployment hit record highs, wages for many white-collar workers fell, and a crisis in the property sector, where more than two-thirds of household wealth is stored, intensified.
The fresh data adds to concerns that the world’s No.2 economy’s growth prospects are diminishing due to fewer workers and consumers, while the rising costs of elderly care and retirement benefits put more strain on indebted local governments.
Chinese PLA not 7 feet tall
Yao Cheng, a former PLA Lieutenant Colonel who fled China in 2016, has provided a different perspective. He reveals that Chinese soldiers face serious shortages including insufficient food supplies. Contrary to the high-tech image, Yao claims soldiers resort to cannibalising their military supplies including draining fuel from rockets to cook their meals.
China’s military budget is among the highest globally reaching $224 billion in 2023. However, Yao Cheng’s revelations suggest that the funds are not adequately allocated. Some departments reportedly lack funds leading to misappropriation from the equipment budget for basic needs. This exposes a gap between the budgetary allocations and the actual resources available to the PLA.
Efficiency and loyalty myths
Despite the narrative of an efficient and loyal military, the reality appears different. President Xi Jinping’s continuous purges of military officials, totalling hundreds since 2013, indicate persistent corruption issues. The recent removal of more than 10 high-profile officials including a defence minister underscores the ongoing challenges within the PLA.
The carefully crafted image of the PLA as a powerful and well-funded force clashes with the stark reality exposed by Yao Cheng’s revelations. Shortages, mismanagement of funds and corruption within the Chinese military raise questions about the credibility of China’s military strength.
Australia rejects China comments on sonar incident
Australia on Thursday rejected comments by China's ambassador seeking to deflect blame from China's navy for the injury of Australian military divers in an incident near Japan in November.
Prime Minister Anthony Albanese said he was "not swayed" by Chinese ambassador Xiao Qian's comment a day earlier that a Chinese navy ship didn't use its sonar while Australian divers were in the water, and a Japanese boat could have been the source.
China Is Buying Up US Farmland
America is seeing more and more of its most fertile land snapped up by China and other foreign buyers, yet problems with how the US tracks such data means it’s difficult to know just how much.
Foreign ownership and investment in US farmland, pastures and forests jumped to about 40 million acres in 2021, up 40% from 2016, according to Department of Agriculture data. Other challenges include the USDA’s reliance on foreigners self-reporting their activity.
China could face more chip restrictions in 2024
“The U.S. government has signaled that they’re planning to roll out new export controls that do close loopholes on a regular basis,” Chris Miller, author of “Chip War” told CNBC “Squawk Box Asia” earlier this month.
Recent statistics showed that China’s imports of integrated circuits have plunged amid U.S. curbs, falling 15.4% year-on-year to $349.4 billion in 2023.
India signs agreement with Argentina for lithium exploration & mining project
According to the Ministry of Mines, this is the first ever lithium exploration and mining project by a Government Company of India.
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