Wall Street is talking up India’s emergence as a key engine of global economic growth, amid high hopes for Modi’s third term. On Xi’s watch, China’s self-inflicted wounds from “zero Covid” chaos to the tech crackdown have only added to India’s appeal
EU and US manufacturers already complaining of Chinese competition in solar power and electric vehicles won’t like China’s hydrogen policy. As it moves to produce hydrogen using renewable energy, this could become an important part of the world’s low-carbon future.
China’s campaign to improve the financial performance of listed SOEs comes as Japan’s stock market is benefiting from corporate governance reforms. However, China is not Japan. Beijing is battling a structural downturn, and corporate governance reforms alone are not going to turn sentiment around.