Europeans reassess the double-edged sword of trade with China
EU exports to China have grown at a double-digit pace since the pandemic struck a year ago, a rare bright spot in Europe’s otherwise bleak economic landscape. But China’s actions in places such as Xinjiang and Hong Kong have made it clear to European companies that trade with China can be a double-edged sword, prompting some to reassess their links to the world’s second-largest economy and call on their governments to take a harder line with Beijing on human rights and unfair competition. Since the pandemic first struck, China has become the EU’s largest trading partner for goods, the source of almost a quarter of wares imported into the bloc last year, while 10 per cent of the EU’s exported goods went the other way. Two-way trade has risen by 67 per cent in the past decade, compared with the 19 per cent growth between the EU and other countries.
Joe Biden 100 days in: little difference from Trump in attitude towards China, analysts say
But analysts see Biden narrowing the scope of restrictions in order to avoid a full decoupling with Beijing Biden’s presidency will pass the 100-day mark on Friday, a symbolic milestone against which administrations are often assessed
Japan approves world’s largest free trade pact with China and ASEAN
Move raises possibility for RCEP to enter into force later this year Japan’s parliament approved Wednesday the world’s largest free trade deal, signed by 15 Asia-Pacific countries including China and the 10-member Association of Southeast Asian Nations, raising the possibility for the pact to enter into force later this year. The deal will eliminate tariffs on 91 percent of goods and introduces common rules on investment and intellectual property to promote free trade. The government expects the trade accord will boost Japan’s GDP by 2.7 percent and create 570,000 jobs. RCEP groups the 10 ASEAN members — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — plus Japan, China, South Korea, Australia and New Zealand. India was one of the founding members but skipped all negotiations from November 2019 due to concern that its trade deficit with China would grow.
Japan approves RCEP, world’s largest trade deal including China, ASEAN
The deal was signed by China, Japan, South Korea, Australia, New Zealand and the 10 members of ASEAN in November 2020. The pact will enter into force 60 days after it is ratified by six of the ASEAN members and three non-ASEAN countries.
China to report first population drop in five decades -FT
China is poised to report its first population decline in five decades following a once-in-a-decade census, the Financial Times newspaper said, citing sources familiar with the matter. A population drop will add pressure on Beijing to roll out measures to encourage couples to have more children and avert an irreversible decline.
China’s census expected to show population decline, spur debate on key policy issues
Economist warns that ‘China’s population crisis is approaching’, with ‘increasingly severe’ economic and social problems Data could prompt a rethink or revision of China’s decades-old retirement ages and make it easier for rural migrant workers to establish residency in urban areas
Meituan faces a big fine for antitrust violation, just like Alibaba, analysts say
Meituan could face a fine of more than US$700 million, 4 per cent of its cash balance, but analysts say its penalty could be less harsh than Alibaba’s By law, companies in China can be fined 1 per cent to 10 per cent of annual revenue for antitrust
If China’s middle class continues to thrive and grow, what will it mean for the rest of the world?
China’s large and impressive accomplishments over the past four decades have spurred scholars and politicians to debate whether the decline of the West – including the United States – as the world’s dominant political and economic force is inevitable amid the seemingly inexorable rise of the East.
How Will Biden’s China Policy Impact US Luxury?
Biden’s foreign policy looks similar to the previous one that blamed China for America’s economic problems, which will only keep hurting luxury brands.
For new mayor of China’s hi-tech hub, soaring property prices may be first item on agenda
Former Guangdong vice-governor and oil industry executive Qin Weizhong is expected to be confirmed in the Shenzhen post next month Qin’s appointment comes as the central government has stepped up its efforts to curb rampant property speculation
Xi’s China has big tech and science plans. But is looking worldwide for talent
It is said Chinese innovators work with one hand tied behind their backs. That won’t help the country’s tech ambitions.
Huawei reports second straight quarterly decline in sales as US sanctions knocked company off its growth pace
Huawei’s first-quarter revenue fell by 16.5 per cent to 152.2 billion yuan, mainly due to a shrinking consumer business That implies the Shenzhen company’s quarterly net profit is at 16.9 billion yuan, according to calculations by the Post
Huawei telecommunications 5G mobile networks cellular
The exterior of a Huawei building in Shenzhen on July 30, 2019. (Image credit: TechNode/Shi Jiayi)
Chinese telecommunications equipment maker Huawei reported Wednesday that its revenue for the first quarter fell 16.5% year on year, in the company’s largest quarterly top-line decrease since US export restrictions took hold.
China to punish data exports to overseas courts as Beijing beefs up defence against US long arm
Clause will fine Chinese companies for sharing data without permission but also shields them from foreign pressure New draft data laws are aimed at beefing up privacy and boosting China’s digital economy
China’s Economic Divide Between North and South Set to Widen
The economic divide between China’s prospering southern regions and lagging northern areas will continue to widen in coming years, with huge implications for growth, debt and policy making, according to Nomura Holdings Inc.
ICBC, Bank of China get regulator’s nod to provide financing to US$13.6 billion state-backed green fund
ICBC and Bank of China will each contribute 8 billion yuan to the National Green Development Fund to finance climate-friendly projects along the Yangtze RiverState-owned banks have pledged support to fund green and sustainable projects to achieve Beijing’s carbon emission goals
Chinese fund managers cut stock holdings to nine-month low as policy and valuation risks abet US$32.4 billion loss
Holdings slipped to 75.9 per cent of stock-focused mutual funds’ total assets in the first quarter, the lowest since June, according to Bohai Securities Zhang Kun, China’s biggest fund manager, cut the holdings of Chinese baijiu stocks by 10 percentage points as popular ‘stampede bets’ unwound
Africa should beware China’s growing role, top US diplomat Antony Blinken warns during ‘trip’ to Nigeria and Kenya
Biden’s Secretary of State vows greater US commitment in virtual talks with the two nations’ leaders China has ramped up investment in Africa, with a focus on natural resources
‘A chance to make peace’: the Chinese toughing out India’s coronavirus storm
Several hundred Chinese nationals remain in India even amid a surge in Covid-19 and frayed diplomatic ties between the two countries Some are struggling to return, hampered by a lack of flights, tests and travel permits. Others are happy to remain and hope Beijing’s offer of aid can help mend fences
Coronavirus: China and South Asian nations to set up emergency supplies reserve
But India is not part of regional discussions held to ‘strengthen consensus on solidarity against’ the pandemic An ongoing border dispute continues to dog relations between Beijing and New Delhi, observers say
Germany-China relationship status: it’s complicated
Germany and China once worked closely together. Now their relations are dominated by conflict. At the latest talks, profitable economic relations collide with systemic rivalry.
Merkel presses China for human rights dialogue
German Chancellor Angela Merkel pressed China’s prime minister Wednesday for broader discussions on human rights issues, telling him that the relationship between their countries “means that we can address difficult issues and put everything on the table.” The comments came after Merkel and Chinese Premier Li Keqiang led broad-ranging governmental consultations on issues like the fight against the spread of the coronavirus, economic cooperation and other topics. The talks were held virtually due to the pandemic
Hungary to set up local campus for China’s Fudan University
The Budapest campus will host up to 6,000 students, paving the way for the institution to establish a European foothold The move is part of Hungary’s ‘eastern opening’ diplomacy, which includes forging close relations with China
US opens to Chinese students and academics in easing of Covid-19 travel bans
Students with valid visas can enter US 30 days before start of new school year, State Department says Others covered by exchange programmes can qualify for ‘national interest exception’
Xi Jinping seeks to channel Chinese Communist Party’s revolutionary past as he tells members to prepare for tough days ahead
The Chinese leader used a tour of Guangxi region to visit an important revolutionary battle site and tell cadres to remember past struggles The party will celebrate its centenary later this year and Xi told party members to remember key moments in its history such as the Long March “I believe Xi will visit two more symbolic sites in the party’s revolutionary history before July … It is very important in Chinese culture to pay homage to the ancestors in major celebrations,” Xie said. Alfred Wu, an associate professor at the Lee Kuan Yew School of Public Policy at the National University of Singapore, said Xi was telling party members to be prepared for “tougher days ahead”. “Xi has no illusions about Sino-US relations. He is telling the party that as we won in the tough battle with the formidable Nationalist troops more than 80 years ago, we can win again in the new struggle (with the US).”
Japan and China clash over Zhao’s Fukushima tweet using ‘Great Wave’ image amid strained relations
Foreign Ministry spokesman used the image, altered to show workers dumping radioactive material, to take aim at Japan’s decision to release treated water at the power plant Japan has reportedly lodged a protest with China over Zhao Lijian’s Twitter post, saying it insults Japanese culture and calling for it to be deleted China has repeatedly pressed Tokyo not to align itself too closely with the US, Japan’s only formal military ally. China was high on the agenda when US President Joe Biden hosted Japanese Prime Minister Yoshihide Suga at the White House earlier this month, Biden’s first in-person meeting with a foreign leader since taking office in January. Foreign Minister Motegi is also set to attend the meeting of G7 foreign ministers in London from May 3-5, where concerns about China are expected to be a major topic of discussion. Japan has continued to indicate it values economic ties with its biggest trading partner. It has avoided imposing trade sanctions on China and on Wednesday parliament approved the 15-member Regional Comprehensive Economic Partnership on Trade, Japan’s first trade deal to include its giant neighbour.
Is There a War Coming Between China and the U.S.?
China, though, is doubling down on research in the physics, nanotechnology and material sciences that will drive the next generation of chips and chip-making equipment. But it could take China a decade or more to reach the cutting edge. That’s why — today — as much as China wants Taiwan for reasons of ideology, it wants TSMC in the pocket of Chinese military industries for reasons of strategy. And as much as U.S. strategists are committed to preserving Taiwan’s democracy, they are even more committed to ensuring that TSMC doesn’t fall into China’s hands for reasons of strategy. (TSMC is now building a new semiconductor factory in Phoenix.) Because, in a digitizing world, he who controls the best chip maker will control … a lot. Just read “2034.” In the novel, China gains the technological edge with superior A.I.-driven cybercloaking, satellite spoofing and stealth materials. It’s then able to launch a successful surprise attack on the U.S. Pacific Fleet. And the first thing China does is seize Taiwan.
On a Chinese Mountaintop, a Community Just for People With Autism
In China, care facilities to support people with autism are scarce. So families are banding together to build their own.
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