Donald Trump reiterates threat to scale back US economic ties with China
President threatens to punish American firms that create jobs overseas and to forbid those that do business in China from winning federal contracts. Trump has sought to make China an election-year issue, portraying rival Joe Biden as a lackey of Beijing.
US-China tensions intensify as Trump pursues financial decoupling
Washington threatens to expel Chinese companies from American stock markets The administration of President Donald Trump is pressuring Chinese companies listed in the U.S. over non-compliance issues, threatening financial links between the two countries. As U.S. financial regulators toughen their stance on Chinese companies, more than 30 of them may be seeking concurrent listings in Hong Kong, the Japan External Trade Organization said in a July 20 report. The U.S., through the Hong Kong Autonomy Act, is shaking the city’s position as an international financial center. Further, the presidential working group in its report demanded that pension funds and other investors disclose the risk of investing in an NCJ, meaning China. The U.S. has drastically shifted its policy toward decoupling from China, seeking such a break not only in the information and communications area but now also in the financial sector. It has therefore become more difficult for those in the finance and securities to “cherry-pick” businesses in the U.S. and China.
US must drop China decoupling threats and ‘stop burying its head in the sand’, ex-Beijing trade officials say
Ex-deputy trade minister Long Yongtu says China will do everything possible to maintain its position in global supply chains, despite US threats of decoupling. Former commerce minister Chen Deming says splitting the two economies is unfeasible and US tariffs have had little impact on its trade deficit with China.
Why US dollar bears should watch out for November’s presidential election
The dollar is being undermined by loose US monetary policy and uncertainty surrounding the outcome of the poll. The latter could mark a turning point for the currency. While Trump should manage the dollar in a globally responsible manner, Beijing has plenty of scope to target a weaker renminbi while inflation risks remain low.
EU looks for trade action on China in trimmed down summit with Xi Jinping
‘Last chance’ for Chinese president to win over European bloc ahead of November’s US election. Virtual meeting will take place on same day as postponed Leipzig meeting between Xi and 27 member states.
China must deliver on opening up promises ahead of Xi Jinping’s ‘last chance’ EU virtual summit next week
President Xi Jinping is expected to take part in a virtual summit with European leaders, including German Chancellor Angela Merkel, on Monday. The talks are seen as key as Beijing tries to convince Europe it is sincere about opening its markets and free trade ahead of the US presidential election.
China in Europe
Hit the (Belt and) Road Jack. Thus, as a result of the analysis of China-CEE relations in the framework of the BRI project, it can be concluded that there are both positive trends and possible challenges in China-CEE relations and their role in China’s relations with the EU. While the specific impact of the “integrity” of the BRI on European territory is still limited, new transport corridors are already emerging, and their frequency of use is growing rapidly. One is a rail link between China and Western Europe via Poland to Germany and beyond. The other is a North – North corridor between Greece and the Baltic region through Central Europe, and Piraeus as a fast-growing center in the Mediterranean, and actors in Italy are involved in expanding their profile as part of an expanding South-North logistics network. At the same time, cooperation with third countries (Ukraine, Russia, Belarus) remains at very early stages, as the degree of readiness of European companies to participate in Chinese-led infrastructure projects outside Europe remains unclear.
China has a ‘win-win’ game plan. India’s app ban and new weapons won’t change that
The Wuhan and Mamallapuram summit diplomacy did not change the Communist Party of China’s policy towards India. And New Delhi just lost time.
Chinese construction giant CCCC aims to counter growing uncertainty with belt and road project push
Two weeks ago, the US Department of Commerce placed five subsidiaries of China Communications Construction Company (CCCC) on its Entity List
A total of 24 Chinese state-owned companies were blacklisted for their roles in helping ‘militarise’ outposts in disputed parts of the South China Sea.
Beijing, at one time a helping hand, is now hurting China’s tech chances
Brilliant people generally want to get away from totalitarian rule, not embrace it. Beijing likes to anoint national champions and set specific goals tied to plans.
China slams US ‘bullying’ of tech firms, unveils data security initiative
Foreign Minister Wang Yi condemns ‘global hunting’ of other countries’ companies after US expands its Clean Network programme. Chinese initiative opposes use of IT to steal data, mass surveillance against other states and installing ‘back doors’ in devices.
China takes aim at US ‘bullying’ of its tech firms
China has taken aim at the US saying its tech firms are victims of “naked bullying”. The accusations come as the Chinese government launches a new set of global guidelines for technology companies. Its new initiative outlaws illegally obtaining people’s data and large-scale surveillance. Last month a similar data privacy effort was announced by the US called The Clean Network.
A multibillion-dollar shopping obsession goes mainstream in China
Live-stream shopping is a blend of entertainment and e-commerce. Viewers buy goods online from people who show off their latest finds — from lipsticks to laundry detergent — in real-time videos. Many liken the concept to TV shopping channel QVC, but the Chinese model is distinctly more modern, mobile and interactive. Hosts can give their fans discount coupons and flash deals in real time, while viewers can click to send their favorite stars virtual “gifts.”
China’s Rapid Shift to a Digital Economy
China may well be the only major economy to achieve positive growth this year. It owes this, in no small measure, to a decade of commitment to heavy investment in technology-driven structural transformation.
Chinese chip giant SMIC ‘in shock’ after US trade ban threat
China’s largest chip manufacturer’s stock sank after the US revealed it could be its next trade ban target.
How a high-society Chinese family’s takeover of French luxury brand Baccarat unravelled into a boardroom battle with creditors and seizure of assets
French court takes Baccarat into protective custody; creditors plan to seize assets, including a Hong Kong flat. Wave of Chinese acquisitions from 2016 to 2018 led to defaults and bankruptcy, with Fosun losing Cirque du Soleil and creditors wiping out HNA’s stake in Swissport.
Hong Kong’s most overbought IPO Nongfu Spring gushes on debut, pushing founder to among China’s newly minted billionaires
Company’s shares surged 85 per cent in early trading from IPO price of HK$21.50. Debut made Nongfu founder Zhong Shanshan one of China’s richest people.
Coronavirus: Hong Kong to relax social-distancing rules as it reveals travel bubble talks with countries such as Japan, Thailand, Germany
Number of businesses and venues allowed to reopen from Friday, including mahjong parlours, museums and sports facilities. Government discussing opening up travel to 11 countries across Asia and Europe.
Hundreds of thousands have been given Covid-19 vaccines without a single infection, Chinese drug firm says
An official from China National Biotec Group says the evidence from an emergency use scheme suggests the products are working. Company is also confident its vaccines can offer protection for up to three years.
Experimental COVID-19 Vaccines Given to Hundreds of Thousands of Chinese
Medical workers, border inspectors, members of the military, staff at transport hubs, and Huawei employees have all had access to domestically developed vaccines that are still undergoing clinical trials.
TikTok owner ByteDance doles out bonuses to assuage beleaguered staff
ByteDance will pay out the cash bonus together with September’s salary to any full-timer who has worked at least 26 days between July 1 and August 31. Its move echoes a handout made in 2019 by Huawei, another major Chinese technology company in Washington’s cross hairs.
Chinese investors ‘Occupy Crypto Street’ in protest of centralized exchanges
Investor grievances with such platforms trace back several months.
Tencent relinquishes rights to PUBG Mobile in India amid latest ban on Chinese apps
Seoul-based PUBG Corp will take over all publishing responsibilities for PUBG Mobile in India. It is the studio that developed and published PlayerUnknown’s Battlegrounds for desktop personal computers and console gamers.
Why some Hongkongers who don’t like it in Hong Kong are staying
Telling someone to leave if they don’t like what they see is the fallback position of a person who does not have a valid argument. While Hongkongers have to be realistic about the future, it doesn’t have to mean giving up on change.
Can Hong Kong’s retail landlords weather soaring vacancy rates by running their own shops in their own buildings?
Rather than leave their properties standing idle, some landlords are launching brand new business ventures to fill the vacant space. Two joint owners will open their first cosmetics store in their five-storey retail complex at 53 Carnarvon Road, Tsim Sha Tsui next week.
China car sales rebound accelerated in August as coronavirus pressures eased
Sales of sedans, SUVs, minivans and multipurpose vehicles increased 8.8 per cent last month from a year earlier to 1.73 million units, the China Passenger Car Association. Toyota reported a 27 per cent increase in China sales for August, while sales of electric cars increased 45 per cent to 82,500 units last month.
Autonomous retail is booming in post-crisis China
Autonomous retail took off during the Covid-19 pandemic. Now that the virus is largely contained, it’s only getting bigger. We use the term “autonomous retail” for the labor-light, technology-heavy retail segment that encompasses unstaffed stores, vending machines and unstaffed shelves. The sector is expected to continue growing as consumers pursue faster, more convenient ways of shopping.
With social distancing and online classes, does student accommodation property still provide healthy returns for investors?
The industry has seen a huge drop in occupancy following the travel bans and restrictions, Australian developer BEKL says. Appetite remains strong with first-half investments in Australia‘s student housing segment tripling the whole of 2019.
India joins hypersonic club with successful test flight of cruise vehicle
Defence ministry says demonstration vehicle with scramjet engine reached an altitude of 30km and six times the speed of sound. It comes amid growing concerns over a new arms race in hypersonic weapons between China, Russia and the United States.
Treat Mekong droughts like South China Sea – through Asean: ex-Singapore diplomat Bilahari Kausikan
Asean nations struggling with droughts that the US blames on China should address their concerns with Beijing collectively, former diplomat advises Water crisis is a ‘strategic challenge’ of ‘international concern’, he says.
As US-China tensions rise, what is the outlook on the South China Sea dispute in 2020-21?
The situation has grown fraught since the onset of Covid-19, with Indonesia, Malaysia, the Philippines and Vietnam also hardening their stance. But China is unlikely to terraform further land features, while Vietnam will also refrain from legally challenging Beijing’s claims or actions.
South China Sea: Beijing sends defence minister to Malaysia, Indonesia ahead of Asean meetings
Wei Fenghe’s Kuala Lumpur and Jakarta visits come ahead of virtual Asean meetings, which US Secretary of State Mike Pompeo is set to attend. Wei says Beijing is willing to ‘meet Asean countries halfway’ to maintain peace in the region.
China’s belt and road: from Malaysia to Philippines, Asean projects face roadblocks
Chinese firms have since 2013 signed deals with Asean nations to build projects such as railways, bridges, dams and special economic zones. But many have been slow to start, with negotiations over loan amounts, environmental concerns and corruption causing years-long delays.
Australia’s last two accredited journalists in mainland China flee as diplomatic relations worsen
The ABC’s Beijing correspondent Bill Birtles and The Australian Financial Review’s Shanghai correspondent Michael Smith left China on Monday night. This came after Chinese police demanded interviews with them, and weeks after Chinese-born Australian journalist Cheng Lei was detained in Beijing.
China says Australian journalist Cheng Lei detained on national security grounds
CGTN anchor is being held on suspicion of ‘criminal activity endangering China’s national security’, according to foreign ministry. It also defended its treatment of two Australian correspondents who were evacuated from China after being questioned by state security.
Xinjiang: apparel groups expect Trump administration blocking order on Chinese textile imports
Sources say a Withhold Release Order is in the works, which would block some apparel imports thought to have been made with forced labour. Barring the use of any Xinjiang cotton in clothing shipped to the United States would be an escalation of US actions on human rights abuses in the region.
For BN(O) passport holders, the rising star of Southeast England is a great relocation option
Reading town makes up for its tiny size with excellence in education records on national stage. Property prices along the Crossrail project operated by MTR of Hong Kong have surged since the project was approved in 2009.
Wealth or empire – China’s dilemma
A very Chinese debate: can China make peace with itself and the outside world by combining its cultural tradition, socialist equality and capitalist market efficiency? A prosperous China or a hegemonic China? There is a lively debate among mainland literati about which goal to pursue. The latter, by and large, believes the nation can have both, indeed the one builds on the other and both are mutually reinforcing. The former, however, generally thinks the pursuit of empire may actually undermine prosperity, with the nation ending up with neither.
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