Your Daily Scan of the New Global Economy

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China
Singaporean start-up’s portable ‘kidney’ could shrink dialysis machines, giving patients their freedom back For the past seven years, 70-year-old Singaporean Julia Lee has rarely travelled overseas. Her most recent trip was one night away, in neighbouring Malaysia.Since being diagnosed with kidney disease, Lee has spent 10 hours each day hooked up to a 20-kilogram machine,...
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Shall we dance? Tesla in tune with city policies The new Tesla factory in Shanghai has become a “poster child” in the city’s campaign to embrace foreign investment as part of its ambition to become a global hub of technology ingenuity and environmental protection.The US electric car company recently rolled its first cars off the...
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Once dingy wet markets clean up their act to woo back customers For generations, fresh vegetables, meat and seafood bought daily in neighborhood wet markets have been the basis of good home cooking. But those markets have come under threat from online markets such as Tmall and Hema that deliver fresh vegetables to the door...
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Biz advice: Don’t stay stationary When Chen Huxiong left his hometown in Guangdong Province and set up a stationery factory in Shanghai in 1997, he made a conscious decision not to rely on imports from overseas. His company, M&G Stationery, has prospered ever since, and Chen credits the business environment in the city for his...
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Specialized parks promote new ideas IBM, Microsoft, Infineon and Alibaba are among several dozen overseas and domestic information technology giants that have set up regional headquarters or major research centers in the Zhangjiang AIsland.It’s a new technology hub for artificial intelligence that opened last year in Shanghai. Though it is small — only 66,000 square...
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Moody’s downgrades Hong Kong’s ratings, saying its ability to govern effectively has been eroded by protests Moody’s Investors Service has downgraded Hong Kong’s rating, citing concerns over the government’s lack of tangible plans to resolve the political and economic issues arising from the more than seven months of protests, dealing another blow to the city’s...
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Hong Kong tops global list of most expensive housing market again as protests make little dent Hong Kong has been ranked yet again as the world’s least affordable housing market with social unrest failing to make any meaningful dent on home prices for most of 2019. That dubious honour is for the 10th straight year...
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Why China’s currency reserve managers must pay attention to the euro in 2020 The euro has been one of the currency market’s favourite punching bags for quite some time but maybe not for much longer. In the past few years, the prospect of Brexit, signs of weakness in the global economy, Germany’s near run-in with...
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Meituan Dianping co-founder Wang Huiwen to retire amid management revamp One of the co-founders of Meituan Dianping, Wang Huiwen, is expected to retire this year, as China’s largest on-demand services provider conducts a revamp of its senior management.Wang, who has served as senior vice-president at Meituan since 2010, will step away from his daily duties...
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