Global Economic Update

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One of the most important measures of China’s manufacturing activity Already signed This is the first time since the early stages of the coronavirus pandemic, as measures to contain the recent outbreak have put pressure on an already fragile economic background.

The Caixin Manufacturing Purchasing Managers Index is an independent survey of factory activities. It was 49.2 in August, below the 50 mark. This is the first time since April 2020 to separate monthly expansion from contraction.

The data was released a day after the official PMI manufacturing data was released, and the data was slightly below the contraction to 50.1, which is the lowest level since February last year. As the recent outbreak of Covid-19 has put pressure on activities, indicators in the service industry have fallen into negative values.

These indexes are one of the most obvious signs that the Chinese economy has lost momentum. In the context of industry-driven recovery, the Chinese economy performed better than other large economies last year. But China is now struggling to cope with weak export demand, high raw material prices and a slowdown in the real estate industry.

Is your industry feeling the impact of the proliferation of Delta variants?Let me know [email protected]. Thank you for reading FirstFT Asia. -Emily

There are five more stories in the news

1. SEC boss: Encryption platform needs supervision Gary Gensler, chairman of the US Securities and Exchange Commission, issued a warning in a report. interview The British “Financial Times” stated that unless they heed his call and work within the regulatory framework, cryptocurrency trading platforms are putting their survival at risk. “Finance is ultimately about trust,” he said.

2. Hamid Karzai is unlikely to be part of the Taliban-led government Former Afghan President Hamid Karzai is Unlikely to play a prominent role According to two senior Pakistani officials, in the Taliban-led government, senior politician Abdullah Abdullah is regarded by the Islamic movement as the “least controversial” option.

• deeper: While considering how to reshape Afghan society, the Taliban are also working hard to encourage people to return to normal.At the same time, Afghans are facing Bank runs and food shortages.

3. The judge approves Purdue Pharma’s opioid settlement Federal Bankruptcy Judge Robert Drain gave Conditional approval Purdue Pharma, the manufacturer of OxyContin, may propose a $10 billion plan to resolve thousands of lawsuits that have contributed to its role in the American opioid crisis. (Associated Press)

4. Tencent increases global investment Social media, gaming and fintech groups increase investment in overseas start-ups More than seven times This year, as Beijing strengthens its regulatory review of technology groups, the global expansion of China’s most valuable company has accelerated.

5. Biden meets with Ukrainian leaders amid tensions in Russia Joe Biden tried to assure Ukraine that the U.S. “Iron determination” promise When meeting with President Volodymyr Zelensky at the White House yesterday, he agreed with his sovereignty and opposition to “Russian aggression.”

Coronavirus Digest

• India Manage one 13 million recorded Covid-19 jabs On Tuesday, as supply constraints eased, vaccination speeds increased.

• About 500,000 people are in U.K When the immune system is severely weakened Provide a third dose Covid-19 jab.

• Fragmented US The healthcare system makes it more accessible to some people seeking an unofficial third vaccine Skip the queue.

• Coronavirus’s degenerative effect on the brain will increase”Dementia pandemic“Scientists and psychiatrists warn that by the end of this decade, this will affect approximately 80 million people.

Follow our live coronavirus Blog with Sign up For us Coronavirus business update Send regular emails to understand how the pandemic affects the market, global business and our workplace.

the day before

China International Service Trade Fair Fair will Open in Beijing today And will continue until September 7. President Xi Jinping will give a video speech at today’s event.

U.K. Green Party Leaders Voting Started Voters go to the polling station when the party decides New leadership In England and Wales.The Green Party in England tried to turn their growing support into Local power. (Guardian, FT)

What are we still reading

Struggles in India’s microfinance industry The expansion of credit in recent decades has allowed low-income Indians to obtain loans to cover everything from cows to new houses to small businesses that create jobs.But the pandemic has left thousands of people Work hard to repay the debt, Threatening one of the country’s economic success stories.

Inflation is putting pressure on dollar stores in the U.S. Nearly 2,000 new stores Expected to open this year, According to Coresight research. This accounts for almost half of the planned retail stores in the United States. What remains to be seen is whether Yiyuandian can continue to find affordable products and employees to achieve its positive growth goals.

The post-Covid education crisis in Latin America is imminent Schools in the area have been closed for most of the pandemic, Force students to study remotely -Usually via unreliable mobile and internet connections. The World Bank estimates that the long-term closure may cost Latin America US$1.7 trillion in future revenue.

Join the Financial Times online, speakers from ISA, World Bank, BlackRock, and Natura will analyze post-pandemic scenarios in Latin America and discuss how companies, governments, and civil society can work together toward a more sustainable future .register here Joined on September 2.

Google develops its own chip at full speed The American tech giant plans to start using Self-developed central processing unit According to a report, its laptops and tablets running on its Chrome OS around 2023 Exclusive to Nikkei Asia.

FT 1000: The fastest growing company in Europe Latest year Enterprise ranking Through revenue growth, a British energy supplier topped the list.explore 2021 roster with Apply for a place By November 30, it ranked sixth.

Thanks to those who participated in our vote yesterday. 55% of the respondents said they would not support the universal basic income policy.

travel.

Bookstores are flourishing all over the world, but Wigtown, Scotland A better way is to provide visitors with keys to their own store. Decades ago, Wigtown defeated at least four other competitors to become Scotland’s national book city. Book Village may be more accurate. Henry Mance abandoned Amazon’s algorithm and entered a world full of cute trash.