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Time of India
a day ago
- Business
- Time of India
Industrial pruning won't pull China out of deflation as quickly as last time
China is considering industrial capacity cuts to fight deflation. This move echoes reforms from a decade ago. However, challenges like private ownership and local incentives complicate matters. Experts worry about job losses and economic slowdown. Beijing may cautiously target sectors like autos and solar panels. The US and EU have concerns about China's overproduction. Local resistance could hinder progress. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads LOCAL INCENTIVES FOREVER BLOWING BUBBLES China's hardened rhetoric against price wars among producers is raising expectations Beijing may be about to kick off industrial capacity cuts in a long-awaited, but challenging, campaign against deflation that carries risks to economic Party leaders pledged this month to step up regulation of aggressive price-cutting, with state media running its harshest warnings yet against what it describes as a form of industrial competition that damages the signals echo Beijing's supply-side reforms a decade ago to reduce the production of steel, cement, glass and coal, which were crucial to ending a period of 54 consecutive months of falling factory gate time, however, the fight against deflation will be much more complicated and poses risks to employment and growth, economists say. The trade war with the U.S. meanwhile is intensifying price wars, squeezing factory Beijing didn't face last decade include high private ownership, misaligned incentives at local and national level, and limited stimulus options in other economic sectors to absorb the job losses resulting from any capacity sees employment as key to social stability. Exporters and even the state sector are already shedding jobs and cutting wages, while youth unemployment runs at 14.5%."This round of supply-side reform is far, far more difficult than the one in 2015," said He-Ling Shi, economics professor at Monash University in Melbourne."The likelihood of failure is very high and if it does fail, it would mean that China's overall economic growth rate will decline."Economists expect that any efforts by Beijing to reduce capacity will be undertaken in small, cautious, steps, with officials - keen to achieve annual economic growth of roughly 5% - keeping a close eye on spillover expected end-July meeting of the Politburo, a decision-making body of the Party, might issue more industry guidelines, although the conclave rarely delivers a detailed implementation expect Beijing to first target the high-end industries that it once billed as the "new three" growth drivers, but which state media now singles out for fighting price wars: autos, batteries and solar expansion accelerated in the 2020s as China redirected resources from the crisis-hit property sector to advanced manufacturing to move the world's No.2 economy up the China's industrial complex, a third of global manufacturing, looks bloated across the sectors have capacity utilisation rates below the 80% "healthy" level, Societe Generale analysts said, blaming weak domestic demand and an investment-driven growth model that favours producers over consumers.U.S. and EU officials have repeatedly complained that this model is flooding global markets with cheap goods made in China and endangers their domestic industries.A foreign chemicals company manager surnamed Jiang, who asked for partial anonymity to discuss the industry, said overcapacity in her sector was evident as early as 2023, yet firms continue to expand."If money is cheap and abundant, any company thinks it won't go bankrupt and can crush competitors to death," Jiang all the state support manufacturers receive, most are privately owned, unlike the raw material producers Beijing trimmed last decade, largely through blunt administrative capacity now requires a less predictable process of curbing subsidies, cheap land supply, preferential loans or tax rebates, then letting markets pick winners and the local officials who would have to implement this have the opposite incentive: developing industry champions that draw supply chain investments and employment to their region."Local governments, in their efforts to transform the local economy, encouraged firms to invest in these new sectors," like solar or batteries, a policy adviser said on condition of anonymity due to the topic's sensitivity."There's nothing inherently wrong with transformation and upgrading, but the problem is that everyone is targeting the same few sectors," said the adviser, adding that the U.S. trade war has exposed such industries as being "too big."Yan Se, deputy director of the Institute of Economic Policy at Peking University, said local government resistance would turn "important and necessary" capacity cuts into a long-term, gradual process that won't end deflationary pressure on its demand would work better, Yan told a conference last prices dropped for the 33rd month in faces a painful trade-off between a deeper and shorter stretch of price falls as output cuts trigger job losses and a longer run of overcapacity and deflation that delays the blow to employment, economists estimates last decade's reforms chopped tens of millions of jobs. But an ambitious project to redevelop shanty-towns across China, estimated by Morgan Stanley at 10 trillion yuan ($1.4 trillion), offered displaced workers new is now much less labour intensive. Still, jobs will be lost, and "there's no way" other economic sectors, also facing weak consumer demand, can absorb the shock, said Monash University's another echo from last decade, high-level talk of urban redevelopment re-emerged last week. But any new investment in that area would likely be too small to compensate for lost industrial activity and jobs."I don't think we can expect real estate to digest job losses from supply-side reforms anymore," said John Lam, head of Greater China property research at UBS."It was used for that in the past and it created overcapacity in our sector," said Lam. Authorities "don't seem to be going in that direction, which I think is correct."
Borneo Post
4 days ago
- Business
- Borneo Post
Xinjiang's bold push empowers rural women at scale
Women work at a new energy technology company in Shule County of Kashgar Prefecture, northwest China's Xinjiang Uygur Autonomous Region on June 24, 2025. – Xinhua photo URUMQI (July 20): There was a time in the southern part of Xinjiang Uygur Autonomous Region when many rural women lived out of public view, economically dependent on their spouses and bound by traditional household gender roles. Today in Xinjiang's Kashgar Prefecture, Aysham Abdureyimu's beauty salon buzzes with laughter and transformation. It has become a place where women come not just for stylish hairdos, but for a sense of community. In Kashgar's Shache County, the steady hum of sewing machines fills Adilmu Abdulla's bustling tailor shop, where she now employs dozens of local women, most of them Uygur. 'When I got divorced, it felt like my whole world fell apart,' Abdulla recalled. 'But these days, I have a steady monthly income and help others earn too. Being a single mom doesn't faze me anymore.' This profound transformation from social constraints to financial independence lies at the heart of Xinjiang's efforts to empower rural women. While women were once confined to seclusion by extremist ideologies, today they stroll the streets proudly clad in modern fashion. Speaking about this change, Abdureyimu said rural women now care more about looking their best. They're eager to learn new skills, start their own businesses, and achieve financial independence. Dressed in the latest styles and fluent in Mandarin, her salon apprentices have become living symbols of this very transformation. The shift extends from household kitchens to socio-economic structures. According to Aynur Mamat, chairperson of Kashgar's women's federation, empowered mothers build more prosperous families, marked by fuller wallets, brighter smiles, happier homes and, above all, unshakable confidence. Behind the change is a coordinated, multi-pronged effort led by the Xinjiang regional women's federation and aimed at dismantling long-standing barriers to women's empowerment. Skills training forms the foundation. According to Li Linghui, Party chief of the Xinjiang regional women's federation, the federation now organises more than 1,000 sessions annually, equipping over 40,000 rural women with skills such as hairdressing and tailoring. These skills have opened doors to entrepreneurship and factory employment. 'Women across rural Xinjiang, especially the south, are eager to work and start businesses,' Li said. 'We're helping make it happen through practical training programmes.' The 'beauty hair salon' programme stands as a striking example. Since 2017, 3,679 salons with a total investment of 63.9 million yuan (about US$8.9 million) have been established across Xinjiang, providing employment for over 10,000 women and serving as community hubs for them. Abdureyimu teaches makeup techniques at her beauty salon in Kashgar Prefecture, northwest China's Xinjiang Uygur Autonomous Region on Nov 13, 2023. – Xinhua photo Across southern Xinjiang's villages, the beauty hair salons are more than just businesses. They have become engines advancing women's independence and cultural change, said Aynur Mahsat, chairperson of the Xinjiang regional women's federation. Through a programme that focuses on online and offline Mandarin classes, some 60,000 women mainly in southern Xinjiang have gained access to new opportunities. Financial assistance has also proven key to the successes of women entrepreneurs. Partnering with banks and rural credit cooperatives, the regional women's federation has provided 17.86 billion yuan in loans to more than 46,000 women, enabling business launches and expansions. The impact has reached far beyond personal income growth. Comprehensive policy support has empowered women to embrace modern lifestyles and economic independence, according to local officials. Rising incomes have also brought them greater influence, both at home and within their communities. Sustaining this momentum requires continuous, targeted effort. 'Enhanced training and guidance mechanisms measurably boost women's aspirations and abilities to pursue business and career opportunities,' Li said, underscoring the need to establish long-term training frameworks with strong policy backing. To further empower rural women in Xinjiang, experts have highlighted the importance of better policy coordination, flexible employment models and enhanced financial support. According to Aygul Imin, a researcher at the Xinjiang Academy of Social Sciences, strengthening rural social security, providing targeted support, and closely monitoring employment and family dynamics are essential to removing barriers faced by rural women in southern Xinjiang while ensuring that progress benefits both the women and their communities. – Xinhua China rural women Xinhua xinjiang
Eyewitness News
5 days ago
- Politics
- Eyewitness News
MK Party supporters march in Pretoria in support of Nhlanhla Mkhwanazi
PRETORIA - Hundreds of uMkhonto weSizwe (MK) Party supporters have started marching in the streets of Pretoria in support of KwaZulu-Natal (KZN) Police Commissioner Nhlanhla Mkhwanazi. The party is marching to the Union Buildings, where it plans to hand over a memorandum of demands. Earlier in July, Mkhwanazi made shocking allegations, linking Police Minister Senzo Mchunu to the criminal infiltration of the police service. READ: Political organisations, civil organisations set to march in Pretoria in support of KZN top cop Mkhwanazi Hundreds of uMkhonto weSizwe (MK) Party supporters took to the streets of Pretoria CBD in what they call the 'Hands off Mkhwanazi' march. Some protesters carried placards demanding the dismissal of Police Minister Senzo Mchunu, while others called for the president to step down as the country's number one. Umkhonto weSizwe Gauteng spokesperson, Abel Tau, said the party wanted assurance that Mkhwanazi would not be persecuted. "South Africans will feel betrayed, and they should be angry because this government has ensured that we worship mediocrity. When someone is excellent at what they do, they are targeted, pushed out and made out to be the odd one in society." The party said any attempt to persecute Mkhwanazi would spark nationwide protests.
India Today
15-07-2025
- Entertainment
- India Today
Who is Rahul Fazilpuria, the Haryanvi rapper who escaped a gun attack in Gurugram?
Haryanvi singer and rapper Rahul Fazilpuria narrowly escaped a potentially fatal incident after unidentified individuals opened fire at his vehicle near SPR Road in Gurugram. While no injuries were reported, authorities are yet to confirm whether the shooting occurred exactly as Yadav, widely known by his stage name Rahul Fazilpuria, hails from Fazilpura village near Gurugram. He rose to fame with his breakout track 'Larki Beautiful Kar Gayi Chul', which was later featured in the Bollywood film 'Kapoor and Sons'.advertisementFazilpuria has since established himself in the Haryanvi music industry with popular tracks such as '32 Bore', 'Jimmy Choo', 'Party', and 'Millionaire'. Known for blending traditional 'desi' sounds with urban beats, he has carved a distinct niche in the regional music scene. His collaborations include projects with several Bollywood celebrities and prominent YouTubers. A close friend of YouTuber and 'Bigg Boss OTT Season 2' winner Elvish Yadav, Fazilpuria made headlines last year after being questioned by the Enforcement Directorate (ED) in a money laundering investigation. He faced charges relating to the alleged use of a rare snake species and a .32 bore pistol in one of his music the 2024 Lok Sabha elections, Fazilpuria contested from the Gurugram constituency on a Jannayak Janata Party (JJP) ticket. He was defeated by BJP candidate Mukesh Sharma, who secured victory by a margin of 1.22 lakh same year, Fazilpuria was linked to a high-profile snake venom case. The ED seized assets worth over Rs 58 lakh from him and Elvish Yadav under the Prevention of Money Laundering Act (PMLA). The seized assets included three acres of land in Bijnor registered in Fazilpuria's name, as well as several bank accounts connected to both artists and a media case involved allegations of snake venom being used at rave parties, raising serious concerns regarding both illegal wildlife trade and financial misconduct. Fazilpuria was interrogated on multiple occasions in Lucknow, particularly in connection with a music video allegedly featuring a March 17, 2024, he was arrested and placed in judicial custody for 14 days, later being granted bail five days after his for the recent gunfire incident, the investigation remains ongoing. As per reports by News18, it is suggested that one of the bullets struck a pole installed in the centre of the road divider. Bullet marks were discovered on the pole, which has since been uprooted and taken by police as part of the investigation.- Ends
The Irish Sun
15-07-2025
- Entertainment
- The Irish Sun
Cops reveal how girl, 5, plunged 50ft from Disney Dream cruise ship before hero dad leapt into water to save her
COPS have revealed how a five year old girl fell into the sea from a Disney cruise ship in a terrifying incident. The child was rescued from the waves when her dad heroically leapt into the water to save her. 5 A five-year-old girl sits on the ship's doctor's knee after she and her father were rescued Credit: Party_Objective/Reddit 5 Hundreds of passengers watched on as the terrifying events unfolded Credit: Facebook 5 Her hero dad, 37, managed to keep her afloat for 20 minutes Credit: YOOPERIPA/X She fell from the fourth deck of the $900 million Disney Dream vessel on June 29 as the ship was heading from the Bahamas to Florida. Her But the Florida Sheriff's Office has now shared its findings on how exactly the nightmare incident unfolded. Officials say that the girl had been sitting on a railing and fell into the sea when she lost her balance. Her father did not see the incident to start with, and was alerted to the situation when his wife made him aware. "After the girl's mother alerted her husband, who didn't see the incident, he jumped into the ocean to save his daughter," a Sheriff's Office spokesperson said. Crucially, the report has The Broward Sheriff's Office said the five-year-old fell "backwards through a porthole" by herself after losing her balance. Most read in The US Sun Witnesses heard the mother screaming and saying "she's five and can't swim". Once alert to the incident, the dad quickly leapt to the rescue and managed to keep his daughter afloat for 20 minutes, according to detectives. Disney Unveils Plans for Major New Theme Park in Orlando & Abu Dhabi They were then rescued from the waves and brought back on board. Hundreds of passengers watched on as the terrifying events unfolded. Passenger Monica Shannon told the Daily Mail that "the parents were playing shuffleboard and the girl was climbing on the railings. "And as she went to climb up again she flew off." She added that high winds on the day could have contributed to the child falling into the ocean. The ship's captain notified passengers of the incident once the rescue effort was complete. A Disney Cruise Lines spokesperson said: "The crew aboard the Disney Dream swiftly rescued two guests from the water. Read more on the Irish Sun "We commend our crew members for their exceptional skills and prompt actions, which ensured the safe return of both guests to the ship within minutes. "We are committed to the safety and well-being of our guests, and this incident highlights the effectiveness of our safety protocols." 5 Child reportedly fell overboard on Disney cruise Credit: Facebook/Kevin Furuta 5 They were then rescued from the waves and brought back on board Credit: Facebook
