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China's borders will likely remain shut for months, but some may be wary of visiting after they reopen

July 21, 2021. Summarized by summa-bot.

Compression ratio: 27.7%. 2 min read.

Travelers walk through Beijing Capital International Airport in Beijing, China, on Saturday, May 1, 2021. Tickets for everything from domestic flights to theme parks are rapidly selling out in China ahead of its Labor Day holiday as the nation???s recovery gathers pace. Photographer: Yan Cong/Bloomberg

Last week, the Biden administration warned American companies about the risk of doing business in Hong Kong, citing Beijing's increasing crackdown on the city.

Last month, online magazine ChinaFile said among 121 China-connected scholars, journalists, former diplomats and civil society workers it surveyed, only 44% said they planned to travel to China once coronavirus restrictions are lifted; 40% said they probably or definitely would not visit, while the rest were unsure.

"Among those who replied they would probably or definitely not visit, reasons ranged from previous visa rejections to outright fear of detention for themselves and for the Chinese people they work with or interview, and concerns that restrictions on movement, research, or reporting would compromise the professional value of spending time in China," said ChinaFile, which is published by the Asia Society's Center on US-China Relations.

It's much more unsettling to think you could be thrown in jail as a hostage simply because you hold an American passport, the way Michael Kovrig and Michael Spavor were thrown in jail as Canadian hostages, in retaliation for something my government did that the Chinese regime didn't like," wrote James Mann, a journalist and author on China.

The more the better: China said on Tuesday it would allow tax deductions for expenses on children under 3 years old, and strictly regulate the after-school tutoring sector, as part of its efforts to raise the country's plunging birthrates by encouraging couples to have more children.

Evergrande is one of China's most heavily indebted developers, with borrowings amounting to more than $100 billion by the end of 2020, according to its financial reports.

Given the sheer size of the company — and the fact that its huge debt is widely held in China by banks and retail investors — a default by Evergrande could pose significant risks to China's financial system.

"The downgrade reflects Evergrande's weakened funding access and reduced liquidity buffer given its large debt maturities in the coming 12-18 months amid the tight credit environment in China and volatility in the capital markets," Cedric Lai, a vice president and senior analyst at Moody's, said in a statement at the time.

A 16-year-old boy was due to be charged with murder by Singapore police on Tuesday after a 13-year-old boy was found dead with multiple wounds in a school bathroom along with an ax. Britain said on Tuesday it would permanently deploy two warships in Asian waters after its Queen Elizabeth aircraft carrier and escort ships sail to Japan in September through seas where China is vying for influence with the US and Japan. Afghanistan is withdrawing its diplomats from Pakistan following the alleged abduction of the ambassador's daughter in the capital Islamabad, according to the Afghan foreign ministry. Typhoon In-fa is intensifying over the northwestern Pacific Ocean as it begins to impact parts of Japan.

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by summa-bot

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