China’s Foreign Trade in 2022 Faces Challenges and Uncertainties
In 2021, among China’s economic sectors, exports expanded more than expected. Thanks to the strong growth in foreign trade, China’s economy which is facing multiple pressures such as shrinking demand gained valuable space and time for the full-scale recovery. A number of experts interviewed by Caijing predicted that in 2022, China’s foreign trade sector will face more uncertainties including a comeback of global pandemic, divergent economic recovery, rising commodity prices, and energy shortages. China’s domestic economic development is also facing multiple pressures such as shrinking demand and weakening expectations. In conclusion, in 2022, China’s foreign trade industry will face enormous challenges.
In the face of various pressures for transformation, as long as China’s foreign trade enterprises adhere to the strategy of transformation and innovation, rely on new business models and new channels to obtain development space, coupled with national macro policies and government service measures as guarantees, China’s foreign trade will surely survive the challenge and stay prosperous.
China is Urgently Looking for Ways to Cope With the Demographic Challenge
China’s one-child policy has lasted for nearly 40 years, and now there is another, more thorny problem with China’s demographics. In May 2021, China eased its fertility policy again, allowing a couple to have up to three children. The government introduced this policy because of the continued decline in the birth rate and the slowdown in population growth. In order to increase people’s willingness to have children, various regions have kicked off welfare system reform to encourage childbirth. But whether these measures will be effective remains unanswered. In fact, how to boost population growth is not a problem unique to China. Other countries in the world have experienced or are going through similar difficulties.
But rather than extending women’s maternity leave, the Chinese government should first figure out why today’s young people are reluctant to have children. In addition, the question may be what kind of support the government can provide families with regard to the cost of parenting.
China’s Monetary Authorities Step up Monetary Stimulus to Boost the Economy
People’s Bank of China Vice Governor Liu Guoqiang previously said China’s central bank “should hurry up, make our operations forward-looking, move ahead of the market curve, and respond to the general concerns of the market in a timely manner,” heightening market expectations for more stimulus.
And for four consecutive days, the People’s Bank of China has released a strong credit easing signal to the market with a rare frequency. The five-yar LPR, which is the basis for medium and long-term loan interest rates, was cut for the first time in 20 months. However, to the surprise of the market, under the strong statement of the central bank, the rate cut was quite mild. Some economists believe that the main purpose of the central bank is to release a signal of “stabilizing growth” and boost market confidence. In fact, many respondents believe that the current market as a whole does not lack liquidity.
Livestreaming of A Female Patient’s Surgery in Shandong Raising Public Concerns
A doctor in Shandong province is under investigation after he was suspected of livestreaming a gynecological surgery of a female patient. At present, the doctor involved has been detained and the case is under further police investigation.
The practice of live broadcast of surgery emerged with the popularization of 4G networks in 2014, and has developed rapidly under the impetus of the pandemic in 2020. Live broadcasts of such medical scenes will become more common, however, doubts about the legality of the practice continue to emerge. The original purpose of the livestream of surgery is for the education of medical professionals. It is equivalent to transferring the traditional doctor’s learning in the operating room to the online streaming. However, the legal risks of live-streaming surgery have not received enough attention. The local police released a notice saying the suspected medical personnel had been arrested and further investigation is underway.