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Show Notes
To celebrate the Year of the Monkey, many Chinese travel back to see their families in the villages and townships that they come from, leading to gridlock and capacity strain across much of the country’s transit networks. Bad weather this week resulted in widespread delays and thousands of stranded travelers.
Chinese Foreign Minister Wang Yi, who just concluded his visit to four African countries, has for three consecutive years chosen Africa as the destination for his first trip abroad each year. This shows the great importance China attaches to the vast African continent. This year's trip took Wang to Malawi, Mauritius, Mozambique and Namibia from Jan. 30 to Feb. 6. For 26 consecutive years, Chinese foreign ministers have visited Africa at the beginning of the year.
China’s foreign-exchange reserves shrank to the smallest since 2012, indicating that the central bank sold dollars as the Yuan’s retreat to a five-year low exacerbated depreciation pressure. The world’s largest currency hoard decreased by $99.5 billion in January to $3.23 trillion, according to a People’s Bank of China statement released on Sunday
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