John Carter

Hong Kong

John Carter

Senior Editor, Political Economy

John Carter has been an economics and finance journalist for more than 40 years. Prior to joining the Post, he worked for Market News International for more than 33 years, first as Washington Bureau Chief, then as European Managing Editor in Frankfurt, Germany and finally as Asian Managing Editor working out of Beijing.

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Latest from John Carter

Global Impact newsletter: Australia’s political risks from provoking the dragon that is China

In the third edition of the South China Morning Post – Global Impact newsletter we will explore how national sensitivity over the origin of the coronavirus pandemic has led to an escalating war of words and sanctions between China and Australia.

13 Jul 2020 - 2:16PM

In the third edition of the South China Morning Post – Global Impact newsletter we will explore how national sensitivity over the origin of the coronavirus pandemic has led to an escalating war of words and sanctions between China and Australia.

Global Impact newsletter: Australia’s political risks from provoking the dragon that is China
How the Hong Kong Autonomy Act will work; analysing Joe Biden's China policy; two years of trade war
Global Impact newsletter: dodging the coronavirus bullet

Global Impact is a fortnightly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world.

6 Jul 2020 - 5:00PM

Global Impact is a fortnightly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world.

Global Impact newsletter: dodging the coronavirus bullet
Global Impact newsletter: a coronavirus vaccine and the return to normal

Global Impact is a fortnightly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world.

19 Jun 2020 - 9:26AM

Global Impact is a fortnightly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world.

Global Impact newsletter: a coronavirus vaccine and the return to normal
Coronavirus: Is the dramatic collapse of China’s economy a warning for the rest of world?

Combined data for January and February 2020 showed that industrial production, retail sales and asset investment all declined far more than analysts expected. As many economic experts expected, lockdowns ordered to control the coronavirus that causes Covid-19 proved to be a constraint to economic growth. As John Carter and Finbarr Bermingham from the South China Morning Post’s political economy team explain, while the government says the economy is starting to get back to normal, the new numbers show how much ground the nation needs to cover before things return to normal.

16 Mar 2020 - 4:22PM

Combined data for January and February 2020 showed that industrial production, retail sales and asset investment all declined far more than analysts expected. As many economic experts expected, lockdowns ordered to control the coronavirus that causes Covid-19 proved to be a constraint to economic growth. As John Carter and Finbarr Bermingham from the South China Morning Post’s political economy team explain, while the government says the economy is starting to get back to normal, the new numbers show how much ground the nation needs to cover before things return to normal.

Coronavirus: Is the dramatic collapse of China’s economy a warning for the rest of world?
Coronavirus: China joins US, Europe in moves to calm markets as economic anxiety grows

The People’s Bank of China that it would pump 550 billion yuan (US$78 billion) into its banking system to spur additional lending amid the coronavirus.

16 Mar 2020 - 10:16AM

The People’s Bank of China that it would pump 550 billion yuan (US$78 billion) into its banking system to spur additional lending amid the coronavirus.

Coronavirus: China joins US, Europe in moves to calm markets as economic anxiety grows
China’s 2020 growth rate prediction raised to 6.0 per cent by IMF after US trade war deal

The IMF revised up its gross domestic product (GDP) prediction from 5.8 per cent in October after the phase one trade war deal with the United States was signed last week.

17 Feb 2020 - 2:54PM

The IMF revised up its gross domestic product (GDP) prediction from 5.8 per cent in October after the phase one trade war deal with the United States was signed last week.

China’s 2020 growth rate prediction raised to 6.0 per cent by IMF after US trade war deal
China threatens ‘forceful measures’ in response to US bill on Hong Kong rights

The US Senate on November 19, 2019, passed the Hong Kong Human Rights and Democracy Act, which will now be aligned with a similar measure approved by the lower House of Representatives before it goes to President Donald Trump for his signature. 

21 Nov 2019 - 5:16AM

The US Senate on November 19, 2019, passed the Hong Kong Human Rights and Democracy Act, which will now be aligned with a similar measure approved by the lower House of Representatives before it goes to President Donald Trump for his signature. 

China threatens ‘forceful measures’ in response to US bill on Hong Kong rights
US-China trade war update: reality hits Communist Party planning, economic heavyweights candid about tariffs for Christmas, no fun at the Canton Fair

Both sides inch towards a ‘mini deal’ while the bad news data continues to arrive as China begins its anticipated fourth plenum session; field reporter Cissy Zhou reports from Shanghai’s Bund Conference, and what China’s economic heavyweights are saying about Trump’s real agenda and whether the trade war is over by Christmas

7 Nov 2019 - 4:12PM

Both sides inch towards a ‘mini deal’ while the bad news data continues to arrive as China begins its anticipated fourth plenum session; field reporter Cissy Zhou reports from Shanghai’s Bund Conference, and what China’s economic heavyweights are saying about Trump’s real agenda and whether the trade war is over by Christmas

US-China trade war update: reality hits Communist Party planning, economic heavyweights candid about tariffs for Christmas, no fun at the Canton Fair
US-China trade war update: deal or no deal, China’s record GDP slump and a return to ‘Made in Hong Kong’

US-China trade war update looks at what has really changed between the two countries since the handshakes and photos in Washington last week, and the major concerns for Beijing ahead. Also hear reports from the front line of the trade war for electronics manufacturing.

18 Oct 2019 - 5:25PM

US-China trade war update looks at what has really changed between the two countries since the handshakes and photos in Washington last week, and the major concerns for Beijing ahead. Also hear reports from the front line of the trade war for electronics manufacturing.

US-China trade war update: deal or no deal, China’s record GDP slump and a return to ‘Made in Hong Kong’
Beijing slams US for ‘sinister plan to destroy Hong Kong’

In a fiery statement, China’s Foreign Ministry has accused US lawmakers of a “political plot” to undermine Beijing after the US House of Representatives approved a measure in support of anti-government protesters in Hong Kong.

16 Oct 2019 - 4:46PM

In a fiery statement, China’s Foreign Ministry has accused US lawmakers of a “political plot” to undermine Beijing after the US House of Representatives approved a measure in support of anti-government protesters in Hong Kong.

Beijing slams US for ‘sinister plan to destroy Hong Kong’
US-China trade war update: how the NBA, Xinjiang bans and Hong Kong are affecting trade talks

We unpack a turbulent week in US-China relations, as trade negotiations commence, with the threat of increased tariffs on the horizon and a list of US companies China might retaliate against if a deal is not reached.

14 Oct 2019 - 10:46AM

We unpack a turbulent week in US-China relations, as trade negotiations commence, with the threat of increased tariffs on the horizon and a list of US companies China might retaliate against if a deal is not reached.

US-China trade war update: how the NBA, Xinjiang bans and Hong Kong are affecting trade talks
Donald Trump suggests meeting with China’s Xi Jinping to reach ‘humane’ response to Hong Kong protests

Claiming China wants a deal to end the trade war badly, the US President said: ‘Let them work humanely with Hong Kong first! … Personal meeting?’

15 Aug 2019 - 9:02PM

Claiming China wants a deal to end the trade war badly, the US President said: ‘Let them work humanely with Hong Kong first! … Personal meeting?’

Donald Trump suggests meeting with China’s Xi Jinping to reach ‘humane’ response to Hong Kong protests
US trade war drives China’s producer prices into deflation, as pork prices send consumer inflation higher

US-China trade war sends manufacturing prices into deflation, while African swine fever sends consumer inflation higher than expected.

9 Aug 2019 - 1:30PM

US-China trade war sends manufacturing prices into deflation, while African swine fever sends consumer inflation higher than expected.

US trade war drives China’s producer prices into deflation, as pork prices send consumer inflation higher
Trade war tariffs continue to gnaw away at China’s manufacturing outlook, July data shows

In the second full month in which the higher 25 per cent tariff rate was applied to US$200 billion of Chinese exports to the US, China’s manufacturing outlook remained negative.

31 Jul 2019 - 11:37PM

In the second full month in which the higher 25 per cent tariff rate was applied to US$200 billion of Chinese exports to the US, China’s manufacturing outlook remained negative.

Trade war tariffs continue to gnaw away at China’s manufacturing outlook, July data shows
As it happened: Donald Trump confirms US companies can continue to sell to Huawei during G20 press conference

US President Donald Trump spoke to the media on the sidelines of the G20 summit in Osaka, Japan having earlier met with Chinese President Xi Jinping.

29 Jun 2019 - 9:21PM

US President Donald Trump spoke to the media on the sidelines of the G20 summit in Osaka, Japan having earlier met with Chinese President Xi Jinping.

As it happened: Donald Trump confirms US companies can continue to sell to Huawei during G20 press conference
China’s manufacturing index drops into negative territory in May as economic pressures mount

The manufacturing purchasing managers’ index (PMI), a gauge of sentiment among factory operators, fell to 49.4 in May.

31 May 2019 - 10:27AM

The manufacturing purchasing managers’ index (PMI), a gauge of sentiment among factory operators, fell to 49.4 in May.

China’s manufacturing index drops into negative territory in May as economic pressures mount
China economy at more risk from EU recession than US trade war, economist El-Erian says

The EU is China’s largest trading partner and has “between 50 and 60 per cent” chance of entering recession later this year or early next.

18 Apr 2019 - 6:15AM

The EU is China’s largest trading partner and has “between 50 and 60 per cent” chance of entering recession later this year or early next.

China economy at more risk from EU recession than US trade war, economist El-Erian says
China economy slows further as industrial output growth slumps to lowest in a decade

Industrial production growth slowed to 5.3 per cent in January and February compared to the same period last year, down from 5.7 per cent growth in December.

14 Mar 2019 - 10:45PM

Industrial production growth slowed to 5.3 per cent in January and February compared to the same period last year, down from 5.7 per cent growth in December.

China economy slows further as industrial output growth slumps to lowest in a decade
China’s ‘two sessions’: an economic watershed or just more of the same?

Future of the economy to be prime topic at meetings of the National People’s Congress and Chinese People’s Political Consultative Conference over the next two weeks.

5 Mar 2019 - 10:28AM

Future of the economy to be prime topic at meetings of the National People’s Congress and Chinese People’s Political Consultative Conference over the next two weeks.

China’s ‘two sessions’: an economic watershed or just more of the same?
China investment in US slides to 7-year low in 2018 amid trade war

Beijing’s tighter grip on outbound investment and Washington’s stepped-up scrutiny of Chinese purchases also take their toll, research group says.

14 Jan 2019 - 11:11PM

Beijing’s tighter grip on outbound investment and Washington’s stepped-up scrutiny of Chinese purchases also take their toll, research group says.

China investment in US slides to 7-year low in 2018 amid trade war
Trade war: Chinese factory prices ease sharply in December raising threat of deflation

Factory price index falls for sixth month in a row, to lowest level in 2½ years and well below expected level.

10 Jan 2019 - 11:16PM

Factory price index falls for sixth month in a row, to lowest level in 2½ years and well below expected level.

Trade war: Chinese factory prices ease sharply in December raising threat of deflation
China’s economy slows further as manufacturing contracts for first time in two and a half years

Purchasing managers’ index falls to 49.4 in December, dropping below 50 for the first time since hitting 49.9 in July 2016.

31 Dec 2018 - 11:29PM

Purchasing managers’ index falls to 49.4 in December, dropping below 50 for the first time since hitting 49.9 in July 2016.

China’s economy slows further as manufacturing contracts for first time in two and a half years
China economy showing effects of trade war as growth slows again in November

Retail sales and industrial production growth slow sharply in November.

14 Dec 2018 - 5:03PM

Retail sales and industrial production growth slow sharply in November.

China economy showing effects of trade war as growth slows again in November
IMF endorses Hong Kong’s wait-and-see housing policies as property prices have room to fall
  • Current Hong Kong policies to moderate housing prices, including the stamp duty, should remain in place for now
12 Dec 2018 - 10:43PM
  • Current Hong Kong policies to moderate housing prices, including the stamp duty, should remain in place for now
IMF endorses Hong Kong’s wait-and-see housing policies as property prices have room to fall
China manufacturing sector improves marginally in November on stronger domestic demand, new data shows
  • The Chinese manufacturing sector activity improved marginally in November as strong domestic demand offset a drop in export orders, according to the Caixin purchasing managers index released Monday
  • But manufacturing sector growth remained weak in November
3 Dec 2018 - 11:09PM
  • The Chinese manufacturing sector activity improved marginally in November as strong domestic demand offset a drop in export orders, according to the Caixin purchasing managers index released Monday
  • But manufacturing sector growth remained weak in November
China manufacturing sector improves marginally in November on stronger domestic demand, new data shows
US and China reach 90-day trade tariff ceasefire after China agrees to buy ‘very substantial’ amount of American goods

Donald Trump to hold off on raising the tariff rate on US$200 billion of Chinese imports for 90 days to allow for talks to address US concerns on Chinese trade practises.

5 Dec 2018 - 4:40AM

Donald Trump to hold off on raising the tariff rate on US$200 billion of Chinese imports for 90 days to allow for talks to address US concerns on Chinese trade practises.

US and China reach 90-day trade tariff ceasefire after China agrees to buy ‘very substantial’ amount of American goods
Chinese economy shows further signs of slowing down ahead of Trump-Xi showdown

‘Economic winter has come’, says one analyst after November’s figures show further signs of cooling activity.

30 Nov 2018 - 9:12PM

‘Economic winter has come’, says one analyst after November’s figures show further signs of cooling activity.

Chinese economy shows further signs of slowing down ahead of Trump-Xi showdown
China service sector growth slows to 13-month low

Service sector growth slowed sharply in October, confirming the US trade war is hitting the Chinese economy hard, and sooner than most expected

5 Nov 2018 - 12:16PM

Service sector growth slowed sharply in October, confirming the US trade war is hitting the Chinese economy hard, and sooner than most expected

China service sector growth slows to 13-month low
Chinese manufacturing activity little changed at very low level in October, Caixin PMI data show

Caixin PMI, which tracks smaller private firms, shows manufacturing growth was little changed at a very weak level in October.

1 Nov 2018 - 10:59PM

Caixin PMI, which tracks smaller private firms, shows manufacturing growth was little changed at a very weak level in October.

Chinese manufacturing activity little changed at very low level in October, Caixin PMI data show