Jan 29, 2017

Lunar New Year: The latest sign of China's economic slowdown

Lunar New Year celebration in Beijing. (Associated Press)

Lunar New Year in China is the world's largest annual migration, but fewer Chinese will have to make the return thrip this year.

The Telegraph reports that thousands of travelers will remain in the rural birthplaces after the holiday rather than return to big cities, out of fear of rising prices and dwindling employment opportunities.

As Chinese economic growth slows—2016's 6.7% rate was the slowest in a quarter century—Chinese officials have tried to support the economy with easy lending. But rising debt levels have also led officials to cut back on this stimulus and shrink the number of low-skilled jobs.

Why it matters: With China now also facing the twin threats of foreign, low-cost competition and automation, trade negotiations with the largest source of American imports may simply hasten the migration of manufacturing to countries, like Vietnam with even cheaper pools of labor.

Go deeper

Why the coronavirus pandemic is hitting minorities harder

Illustration: Aïda Amer/Axios. Photo: Mark Makela/Getty Images

The coronavirus’ disproportionate impact on black and Latino communities has become a defining part of the pandemic.

The big picture: That's a result of myriad longstanding inequities within the health care system and the American economy.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 6,804,044 — Total deaths: 362,678 — Total recoveries — 2,788,806Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 1,909,077 — Total deaths: 109,497 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: Some people are drinking and inhaling cleaning products in attempt to fight coronavirus, CDC says Fauci: "Very concerned" about spread of virus amid George Floyd protests — Cities offer free testing for protesters.
  4. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy software-as-a-service model as use of robots accelerates.
  5. Business: Sports, film production in California to resume June 12 after 3-month hiatus.
  6. Education: Students and teachers flunked remote learning.

In photos: George Floyd's North Carolina memorial service

The remains of George Floyd are brought into Cape Fear Conference B Church. Photo: Ed Clemente/POOL/AFP via Getty Images

Hundreds gathered in Raeford, North Carolina to honor George Floyd, whose death in Minneapolis nearly two weeks ago has sparked nationwide protests against police brutality.

The state of play: This is the second memorial for Floyd. A number of his family members remain in Raeford, including his sister. He was born in Fayetteville, North Carolina, The News and Observer reports.