Karen Yeung

Karen Yeung

Specialist Reporter, Business

Karen is a contributor to Inkstone. She is an award-winning reporter for the South China Morning Post.

Location
Hong Kong
Language spoken
English, Mandarin, Cantonese
Areas of Expertise
Asian and Chinese markets for currencies, bonds and stocks; chronicling China's capital market reforms; finance technology
Will Trump cut China from the dollar payment system?
Will the Trump administration weaponize the US dollar to hurt China following Beijing’s plan to impose a new national security law in Hong Kong? This new and troubling question is suddenly looming for Chinese officials.  While the probability remains very low, the risk of a financial war – including being cut off from the US dollar system – is no longer unthinkable for China. President Donald Trump has not mentioned sanctions against Hong Kong or Chinese financial institutions amid worsening US-China relations. But if Washington were to sever China’s corporate and financial system from the US dollar payments system, it could start a financial tsunami that would lead global finance into unch
41% of Americans shun China’s products. The mistrust is mutual
The coronavirus pandemic is fueling mistrust among consumers in China and the United States of each country’s products.  A recent survey by Deutsche Bank’s big data platform dbDIG showed 41% of Americans would not buy a “Made in China” product again. 35% of Chinese would avoid buying products “Made in USA.” Even though most consumers were not ready to completely shun each other’s goods, the survey results indicate a rise in commercial nationalism and a growing distaste for globalization, said Apjit Walia, an analyst at Deutsche Bank. US consumer distrust of Chinese products has been boosted by comments from American officials, particularly President Donald Trump, who has blamed China for th
How canceling debt to China could backfire for the US
China could cut the vast amount of US government debt it buys in response to speculation that the United States may not repay it, amid a war of words over the coronavirus and trade, analysts have said. US news reports indicated that White House officials had debated several ways to offset the cost of the coronavirus outbreak, including not repaying some or all of the nearly $1.1 trillion debt that the US government owes China. The discussion of China’s financial connection to the US government has come as President Donald Trump and other American officials have increased their criticism of Beijing over the origins and handling of the coronavirus, and threatened new import tariffs to penaliz
What will shopping look like after coronavirus? Look to China
Since the start of the Covid-19 outbreak in China, Emma Wang has been setting aside the money she would typically have spent on going out and traveling but was unable to because of social distancing regulations. As the authorities gradually lift the containment measures across most of the country, Wang does not plan on keeping her spending subdued, but rather to spend differently.  Chinese households have emerged from a lockdown into a domestic economic recession, rising unemployment and stagnant income growth. The health crisis has led Wang to believe that savings should not only be invested in the pursuit of better health care, but also in more meaningful experiences with her family. Wang
Coronavirus creates risk of a Great Depression, China’s central bank says
China’s central bank has warned the international community to be alert to the risk of a “Great Depression” in the wake of the Covid-19 outbreak, although it said the chances of this occurring was low. “The possibility of a ‘Great Depression’ cannot be ruled out if the epidemic continues to run out of control and the deterioration of the real economy is compounded by an eruption of financial risks,” Zhu Jun, the director of the international department of the People’s Bank of China, said last week, according to local media. The coronavirus pandemic has forced policymakers to balance the need to protect public health and the economic cost of shutting almost all face-to-face human activity. 
The divergent tales of two women’s rights crusaders in China
Feminists Wang Wei and Xiong Jing both found their calling in college, but their experiences of campaigning for women’s rights in China have been vastly different. Wang, 21, who provides sex education through a start-up she founded, has received official policy and funding support for her activities. But 31-year-old Xiong, a prominent #MeToo activist seeking to change attitudes toward women, has been under tight government scrutiny, and her organization was shut down. This split-screen contrast may reflect one of the many contradictions in China’s economic, political and social policies as the ruling Communist Party tries to meet demands for a more equal society as people get richer, without
China’s economy looks like Japan’s in the 1990s, and that’s not good
China’s economy is flashing worrying signs reminiscent of Japan’s economic bubble in the 1990s, said a Japanese economist. Japan’s home prices nosedived in 1992 after a period of asset price inflation and sank the economy into a recession that lasted almost 25 years. Naoyuku Yoshino, dean and CEO of the Asian Development Bank Institute, said China’s housing sector is looking similar to what it was like in Japan three decades ago. As Japan did then, China in recent years has adopted a loose monetary policy that has fueled a housing bubble, he said. Couple these with an impending demographic shift – China’s population is rapidly aging and its workforce is shrinking – Yoshino said he is concern
Inkstone index: China’s plummeting profits
70%: the fall in profits in China’s oil processing sector in the first two months of 2019. As the impact of the country’s trade war with the United States and widespread economic slowdown continued to take root, oil processing was by far the worst performing area in China’s key industrial sectors. But new data shows worrying figures across the board in those sectors, which employ huge numbers of people. According to figures released by China’s National Bureau of Statistics on Wednesday, total industrial profits fell by 14% in the first two months of the year. This is the worst performance since the statistics board began measuring profits by these metrics in October 2011. China is seeking t