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Three years ago, Luckin caused a massive scandal with falsified business figures. The company was even forced to delist from the New York Stock Exchange. Now it has suddenly overtaken Starbucks in China. A major difference in its business model put Luckin in the lead during the Covid pandemic.
By Jörn Petring
The White House's new sanctions against China mainly target the US financial industry. Its tone and direction are more of a concern to Europe than the measure itself. The US and China continue to drive a wedge in the global market.
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Globally, the shift away from coal usage in steel production is seen as a crucial climate mitigation issue. However, China, the world's largest steel producer by far, is moving too slowly. Experts criticize the loopholes in Chinese steel regulations.
By Nico Beckert
Consumer prices in China are dropping. With producer prices also having been in decline for a while, deflation has now taken hold. This is detrimental to the economy. The Politburo is responding with cheap credit.
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