Cost of Covid Zero straining municipal finances across China: Report

BEIJING – China’s attempts to stamp out Covid-19 are draining local-government coffers, posing a fresh threat to the economy and bond investors as President Xi Jinping doubles down on his zero-tolerance stance toward the virus. Jilin province, in the north-east of the country, has warned of “increasingly outstanding conflicts” between spending and income. Finances at […]

Japan warns of rising security threats in annual defence report

TOKYO (REUTERS) – Japan warned on Friday (July 22) of escalating national security threats, including repercussions from Russia’s war with Ukraine, Chinese intimidation of Taiwan, and vulnerable technology supply chains, in its annual defence white paper. The report sets out the government’s security concerns as it prepares the defence ministry budget request due next month, […]