Landmark Global connects Asian businesses to European shoppers
Thanks to its strategic location, the airport of Liege, a city located 100 kilometers to the south of Brussels, has become a central transport hub in the journey parcels make from China and other Asian countries into Europe. “Liege is positioned really centrally in Europe. From there, you can easily get to the continent’s biggest economies – Germany, the UK, France, the Netherlands and Italy,” Jan Huisman, Senior Vice-President Asia of Landmark Global, explains.
China’s foreign minister Wang Yi tells European Union not to get caught up in ‘new Cold War’
Wang begins post-pandemic European tour in Italy, where Foreign Minister Luigi Di Maio signals continued disapproval of Beijing’s moves on Hong Kong. Without mentioning US, Wang says any Cold War ‘hold all countries in the world hostage’.
Human rights cast shadow over China Foreign Minister Wang Yi’s Netherlands visit
A group of Dutch politicians has signalled intention to invite the Chinese diplomat to talk about Hong Kong, Xinjiang. Parliamentary sources suggest the move has majority support although the invitation could be declined.
An economic decoupling of the U.S. and China is ‘a long way away,’ says former IMF China head
“These two economies are still quite closely tied. After all, it’s very hard for the two largest economies in a way to stop bumping into each other in various dimensions,” said Eswar Prasad, previously head of the International Monetary Fund’s China division. However, with heightened tensions between the two, “the desire to get away from the grasp of the U.S.-based or dollar-denominated U.S. financial system is certainly something at the forefront of China’s mind,” said Prasa, who is now a trade professor at Cornell University.
US-China trade war: both sides cling to phase one deal as wider relationship crumbles
US President Donald Trump needs China to keep buying farm goods covered under the agreement to stand a chance at re-election in November, an analysis shows. ‘Beijing wants to keep the trade deal alive at all costs’ to stop broader ties with the United States from completely collapsing, economic consultancy says.
China-US ties: phase one trade deal must be separate from other parts of relationship to succeed, Beijing says
Chinese state media says new trade talks with US were constructive but this is just the first round and many challenges remain. US secretary of state tells Republican Convention he applauded Trump for ending a ‘ridiculously unfair trade arrangement’.
US-China relationship at ‘quite dangerous’ point, former World Bank president Robert Zoellick warns
‘US hostility almost seems sharper because there’s a sense of rejection. It’s always useful to recognise China as it is rather than how we might want it to be’. Some analysts, however, question the former US official’s argument and policy recommendations.
China could weaponise drug exports to retaliate against US chip restrictions, Beijing adviser says
High-profile economist Li Daokui says Beijing could restrict drug exports to the US if the Trump administration was to cut China’s access to semiconductors. Washington has been ratcheting up attacks on Chinese tech firms, including starving Huawei of components made by American companies.
To Deal With China, Trump Should Learn German
Germany is a manufacturing superpower that would be a decisive ally, along with the rest of the European Union, in a trade war against China.
China’s economy is bouncing back: WSJ
As much of the world struggles to contain the coronavirus, China’s recovery is gaining momentum, positioning it to further close its gap with the U.S. economy, according to an article, “China’s Economy, Bouncing Back, Gains on the U.S.,” published on The Wall Street Journal on Tuesday. According to the article, China is the only major economy expected to grow this year. J.P. Morgan recently boosted its 2020 China growth forecast to 2.5 percent from 1.3 percent in April. Economists at the World Bank and elsewhere have also upgraded their forecasts for China.
Chinese banks brace for cost of national service to shore up economy as debt reprieve, soured loans erode earnings
Lenders have been asked to sacrifice profits, extend debt reprieve to businesses, and hire new graduates to ease unemployment. Banks are expected to report weaker second-quarter earnings due to the lingering effects of coronavirus as bad loans accumulate.
The top challenges facing US companies in China
Trade tensions and tariffs are among the top concerns facing US companies operating in China this year, with the Covid-19 pandemic unsurprisingly also making a prominent appearance, all breeding uncertainty into the business environment.
China ‘stuck’ as rigid controls on capital outflows becoming harder to peel back
China imposes a strict capital account system to control the yuan exchange rate, its international balance sheet and the size of foreign exchange reserves. But the regime comes with risks, analysts say, including distorting supply and demand in the foreign exchange market and restricting investment in some areas
Hi-tech hub Shenzhen faces headwinds as it pushes ahead with innovation ambitions
Southern city on Wednesday marked 40 years since it became one of China’s pioneering special economic zones. A lack of public services and a challenging business environment are undermining its goals, analyst says.
China’s cloud landscape, with Kevin Xu
China Tech Investor is a weekly look at China’s tech companies through the lens of investment. Each week, hosts Elliott Zaagman and James Hull go through their watch list of publicly listed tech companies and also interview experts on issues affecting the macroeconomy and the stock prices of China’s tech companies.
Ant Group’s mega IPO will reward staff and early investors, including the businesses of two of Hong Kong’s wealthiest families
CK Asset and CK Hutchison, the two flagships of Hong Kong tycoon Li Ka-shing, hold 8.91 million each of Ant’s Class C shares. Family members of Hong Kong’s former Chief Executive Tung Chee-hwa own 1.78 million Class C shares in the Hangzhou-based fintech company.
Xiaomi seeks further growth in overseas markets despite rising geopolitical tensions
The company’s second-quarter revenue reached US$7.7 billion, up 3.1 per cent from a year ago, on the back of strong premium smartphone sales. The world’s fourth largest smartphone vendor also saw its overseas business bounce back to pre-pandemic levels in the same period.
China’s crash diet begs the question: is it facing a food crisis?
A national campaign to curb mounting food waste in China is feeding speculation that the supply outlook is worse than the government admits and fuelling warnings food could become another front in the worsening US-China rivalry. President Xi Jinping started the “Operation Empty Plate” drive in mid-August to address what he called “shocking and distressing” waste, prompting a nationwide push to comply reminiscent of the Mao era. The aggressive campaign has spooked many on social media, who are asking whether it indicates deeper problems.
Chase Tesla’s Success, Ride the IPO Wave
Electric vehicle (EV) trends are getting hotter with each passing day. Climate change concerns, stricter emission rules, favorable government regulations and improvement in the EV infrastructure on the back of superior technologies are fueling the demand for green vehicles. Banking on the EV frenzy, various China-based EV startups are seeing this as an opportunistic time to raise public funding.
China’s EV maker Xpeng raises U.S. IPO pricing
Chinese electric vehicle maker Xpeng could raise as much as $1.275 billion from its U.S. initial public offering (IPO) after flagging that its shares would be priced at $15, two sources with direct knowledge of the matter said.
Trump’s WeChat ban could prevent US companies from doing business in China
President Donald Trump’s threat to ban WeChat has already upset millions of users in America who depend on the app as a lifeline to family and friends in China. But it could also become a major headache for US companies operating in the world’s second largest economy. The executive order, issued earlier this month, would prohibit Americans and US firms from “any transaction that is related to WeChat” — a significant escalation of the tech war between Washington and Beijing that has already resulted in sanctions and threats against other Chinese companies, including TikTok and Huawei.
No fish, lower subsidies – where next for China’s coastal fishers?
Change is afoot for China’s coastal fishing industry as WTO talks spell the end of huge subsidies.
Canadian foreign minister presses China over detainees, Hong Kong
Francois-Philippe Champagne and China’s Wang Yi held 90 minutes of talks in Rome as ties between the two countries sour.
Tech war chronicles: How a Silicon Valley chip pioneer landed in China
As the United States steps up its campaign to block China from acquiring key technological know-how, the winding journey of a pioneering Silicon Valley computer chip firm is showing just how tough a task that can be. Co-founded over 35 years ago by Stanford University professor John Hennessy, who is currently the Chairman of Alphabet Inc, MIPS Computer Systems Inc had developed a new approach to chip architectures that remains in wide use.
Freight train opens new route between south China’s economic cluster and Europe
Products from south China’s Guangdong-Hong Kong-Macao Greater Bay Area have another export channel to Europe thanks to a new cargo train route. The new China-Europe freight train line, which links south China’s economic hub Shenzhen with Germany’s Duisburg, is now in operation. The first train, with electronics, machinery and textile products, departed from Shenzhen, Guangdong Province, on August 18 and left China on August 23 via the Alataw Pass, a major rail port in northwest China’s Xinjiang Uygur Autonomous Region. It is expected to arrive in Duisburg around September 6.
How European views on China are hardening in the wake of Covid-19
The perception of warm relations between China and EU countries is increasingly at odds with reality.
As world grapples with coronavirus pandemic, tuberculosis is having a resurgence
Public health experts warn the deadly infectious disease is silently spreading and claiming more lives. Resources have been diverted for Covid-19 and systems are overwhelmed, while lockdowns make it harder to get diagnosed and treated for TB
Why China-Russia economic ties will emerge from the coronavirus pandemic stronger than ever
In addition to robust bilateral trade, projects such as the Amur Gas Chemical Complex which will supply polythene and polypropylene to China, the Power of Siberia pipeline and de-dollarisation efforts by both countries bode well for the future.
Australia ‘hurt the feelings’ of China with calls for coronavirus investigation, senior diplomat says
One of China’s most senior diplomats has refused to say the coronavirus pandemic originated in Wuhan, while accusing the Australian Government of damaging the relationship between the two countries with calls for an independent investigation into the virus.
Stay Calm About China
Beijing’s ambitions shouldn’t be treated as an existential threat to the United States. The competition with China cannot be won by the sort of systemic knockout that finished the Soviet Union, and that the Soviet Union dreamed of inflicting on the West. Its most important aspect is the relative success of the two capitalist systems in terms of economic growth, the maintenance of social stability, and ability to cope with new crises. This is indeed where China, as a successful capitalist country, is a more serious challenger than the Soviet Union. For the United States to compete successfully with China in these areas does not however require more warships, more CIA operations, or more money for Voice of America. It requires long overdue reforms at home.
US orders fresh sanctions on Chinese firms over South China Sea ‘militarisation’
State-owned China Communications Construction Company among those targeted. Visa restrictions to apply to people and businesses linked to activities in the disputed waters, US secretary of state says.
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