Oversupply and deflation are spooking markets, while falling demand for coal and iron ore threatens to further hamper anaemic Australian growth
would probably resist major adjustments in savings, consumption and investment incentives that did not serve its industrial policy goals.The assessment by the US’s Central Intelligence Agency rings true – except it is dated 1986 and was about Japan, then a rising Asian power. Rather than rocketing to “Japan as number one”, as one book at the time warned, its economy would soon suffer property and stock market implosions from which it has never fully recovered.
Global efforts to slow and even halt climate change hinge to a large degree on whether China can keep driving down the cost of solar panels, wind turbines and batteries that store renewable electricity and power cars.In an economy where transactions are almost entirely digitalised, companies – and presumably the Chinese government – have an ability to track activity more precisely and in real time probably unmatched in history.
Cities even in remote regions are filled with new cars – the great bulk of them built in China. More than one in two car sales are now electric vehicles, with China accounting forTo get to those distant areas, travellers may ride on the 40,000-plus km high-speed railway that likely exceeds the rest of the world’s combined, or by car on the similarly vast network of highways. Shanghai’s metro, meanwhile, boasts 20 lines and 508 stations – versus a mere nine lines and 142 stations in Tokyo.
It has built a stunning hall to showcase exquisite woodcarvings but can’t open to the public. A nearby road has collapsed because of past mining and local authorities can’t find the funds to repair or re-route it.
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