As Canada deals with high inflation and a housing shortage, the world’s second-largest economy is grappling with a nearly opposite reality.
China has been booming for over 40 years as Beijing invested heavily to build up the country. But now, demand for housing is sinking amid overbuilding and developers mired in debt, and consumer prices have recently fall ... Show More
Yesterday
Washington accuses Canada of meddling in midterms
Earlier this month, U.S. ambassador Pete Hoekstra, made the dramatic allegation that Canada could be engaging in election interference in the U.S. The ambassador was pointing to a few different things. One, was comments made by Industry Minister Melanie Joly about Canada’s tariff ... Show More
27m 53s
Oct 30
Interest rates are up. Should you be worried?
On Wednesday, for the first time in three years, the Bank of Canada raised its key interest rate. It’s a modest hike — just 0.25% — but it’s been a controversial one, with several economists arguing that governor Tiff Macklem was jumping the gun, when Canada has by some measures ... Show More
23m 23s
Oct 2023
How did 6 million people in China buy homes that don’t exist?
China is in the middle of a housing market crisis. Two of its top property developers, Evergrande and Country Garden, are struggling to pay back debt or fulfil their promises to build properties they have already sold to millions of people.Fan Wang, a BBC reporter in Singapore, t ... Show More
13m 43s
Sep 2024
Why China’s economy is struggling
After a stronger-than-expected start to the year, China’s economy is showing signs of weakening as the world’s second-largest economy struggles with a real estate downturn, slowing consumer spending, and geopolitical tensions. Goldman Sachs Research’s Hui Shan, chief China econom ... Show More
19m 2s
Jul 2023
China’s Economic Rebound Hits a Wall
<p>When China suddenly dismantled its lockdowns and other Covid precautions last December, officials in Beijing and many investors expected the economy to spring back to life. It hasn’t worked out that way.</p><p>Daisuke Wakabayashi, an Asia business correspondent for The Times, ... Show More
22m 59s
Aug 2022
China's economic challenge
China, the so-called engine of global growth, seems to be stalling badly right now. The country is facing rising unemployment, falling factory output and a collapsing property market. Plus, a growing number of regular Chinese citizens are complaining that the country's tough anti ... Show More
18m 3s