Business

Chinese leader Xi Jinping's crackdown on industries such as technology, real estate and education, and his push for "common prosperity" over the past two years, have terrified China's wealthy community. Especially since Xi Jinping won his third term at the 20th National Congress of the Communist Party in October last year, rich people's worries about their future in China have worsened. Bloomberg News reported on January 25 that there is a massive surge in Chinese seeking to immigrate to North American countries. Wealthy Chinese are desperate to move as soon as possible. It reported that China faced about $150 billion in annual capital flight and would face a large outflow of funds in 2023, which might put pressure on its currency, yuan and the current account. A large number o...

markets and strategic hubs. However, the same threats that the West alleged to have faced with Chinese companies cannot be ruled out in the Gulf, even as Beijing is putting an all-out effort to promote its digital and security companies to supply intelligence monitoring networks to Middle East countries. While most of the western countries are banning Chinese surveillance products fearing surveillance and other security hassles, China has increased its engagement to secure contracts in Saudi Arabia, Qatar and others. Qatar’s Ministry of Interior’s (MoI) Internal Security System Department which relied on Swedish technology for its CCTV surveillance systems, is now offering its market to Chinese companies. Hikvision and Dahua are the two prominent Chinese CCTV/video surveillance compani

While China hides the truth about the near-stoppage of its most prestigious BRI project related to the economic corridor between the two countries in Pakistan, the communist country is using the new year to tom tom its success elsewhere. China embarked on the BRI project with Pakistan a few years ago but Pakistan realised neither its citizens nor its infrastructure were in reality profiting from it, other than provide China a land and rail facility to move its goods to Europe through Pakistan. During the period Imran Khan was Prime Minister, he saw through the game. Many projects were suspended as local Pakistanis started protesting, angered at the easy prosperity of Chinese nationals living in their country working on the projects while local Pakistanis hardly got any jobs or other...