CHINA

The focus of the luxury industry is shifting back to China, with hopes that its high-end spenders will once again splurge on designer goods during Lunar New Year festivities as Beijing relaxes COVID curbs after three long years.

President Xi Jinping Wednesday expressed concerns over the spread of the virus in rural China, much of which lacks medical resources.

European shares climbed on Friday, as optimistic investors gauged the potential impact of a week-long Lunar New Year holidays after China lifted its COVID-19 curbs, even as concerns over global economic slowdown continued to sap sentiment.

Officials have said that as of Wednesday, 480 million people have travelled across the country since January 7.

The actions and potential implications of several countries, including Russia, North Korea, China, and Iran indicates that change is occurring in these countries and their actions have the potential to affect the global order. The US has the power and capability to assist and influence events in these countries, but should do so in a way that avoids being perceived as meddling. The US should work to deter expansionist behavior by China in the Indo-Pacific region and to calm tensions with North Korea.

Taiwan's foreign minister has warned of a possible Chinese invasion in the year 2027 when Xi Jinping would be seeking a fourth term as president.

Luxury retailers Richemont and Burberry said they were optimistic that consumers in China would start spending again, helping offset three years of upheaval from the government's strict COVID-19 lockdowns and soaring infections.

Oil prices rose on Wednesday to their highest since early December on optimism that the lifting of China's strict COVID-19 curbs will lead to a fuel demand recovery in the world's top oil importer.

The figure refers only to deaths at medical facilities, with the total number likely to be higher.

Britain criticised on Thursday what it said was the systematic erosion of freedoms in Hong Kong by the Chinese government and a crackdown on free speech by authorities in the former British colony, drawing an angry response from China.

Almost 90 percent of people in China's third most populous province have now been infected with Covid-19, a top official said Monday, as the country battles an unprecedented surge in cases.

Oil extended gains on Monday, rising more than 3% after China's move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns.

Major stock markets mostly climbed Monday and oil prices rallied, building on optimism generated by China's Covid reopening and hopes the Federal Reserve will slow its pace of interest rate hikes.

Travellers began streaming into mainland China by air, land and sea on Sunday, many eager for long-awaited reunions, as Beijing opened borders that have been all but shut since the start of the COVID-19 pandemic.

Understaffed and underfunded clinics stand half-empty in parts of the Chinese countryside even as hospitals in major cities heave under an unprecedented Covid wave -- an illustration of the stark disparities in the country's healthcare system.

Wall Street was set to tap the brakes on Thursday as upbeat jobs data after a firm message from the Fed that it won't be cutting interest rates any time soon offset China's latest reopening plans.

Japan will toughen its COVID-19 border control measures for travellers from China from Sunday, Prime Minister Fumio Kishida said, in response to a surge of infections.

A growing number of countries are worried about a lack of data and transparency surrounding China's outbreak.

China called the mounting international restrictions on travellers from its territory "unacceptable" on Tuesday after more than a dozen countries placed fresh Covid curbs on visitors from the world's most populous nation.

Oil prices edged lower on Tuesday in volatile trade as weak demand data from China and a gloomy economic outlook weighed.

In rules that come into effect on January 5, all travellers to the UK from China must submit a negative test before boarding.