Five of China’s biggest state firms worth $318 will soon delist from Wall Street

For months, federal regulators have increased pressure on Beijing and Chinese companies that trade on U.S. stock exchanges to comply with American listing rules.  But on Friday, five of China’s biggest U.S.-listed, state-owned giants, valued at a collective $318 billion, announced they would exit Wall Street instead, marking an acceleration in the U.S.-China financial decoupling.  […]

Xi, Henan, and China’s Growing Financial Crisis – The Diplomat

Advertisement In July, videos of tanks supposedly rolling onto the streets of Henan circulated online, with many posts drawing comparisons to the Tiananmen Square Massacre. While the video was later refuted – the Associated Press confirmed the tanks were taking part in a military exercise in another city more than 400 kilometers away – the […]

Ex-Arm boss exits Chinese chipmaker amid US-China tensions | Technology

Tudor Brown steps down from board of Semiconductor Manufacturing International Corporation after nine-year run. Tudor Brown, the former president of Arm Ltd., has resigned from the board of Semiconductor Manufacturing International Corp., stepping away from the Chinese chipmaker that has been hit with US sanctions. Brown, a celebrated engineer who was part of Arm’s founding, […]

China’s trade curbs on Taiwan after Pelosi visit are drop in the ocean

Beijing’s trade blocks against Taiwan affect about 0.04% of their two-way trade, reinforcing that these moves in Beijing’s playbook tend to be more political than economic, analysts said.  Beijing took action against Taiwan following U.S. House Speaker Nancy Pelosi’s visit to the island earlier this month despite warnings from Beijing. That included suspensions of imports […]

Is China to Blame for Sri Lanka’s Debt Woes? – The Diplomat

Advertisement China has never been Sri Lanka’s biggest lender. Nevertheless, as Sri Lanka has fallen into economic woes, particularly in the wake of COVID-19, blame has turned to China. However, Sri Lankan officials have repeatedly expressed the view that China is not the source of the country’s economic woes. So what’s the real story? China […]

China’s Low-Growth Zero-COVID Policy Signals Transition Away From Reform Period – The Diplomat

Advertisement If it wasn’t clear before COVID-19 hit, it is now apparent that Xi Jinping, China’s top leader, does not prize economic growth above social and political factors. In fact, growth appears to be further down on China’s agenda than it has been in several decades. We can conclude this since China is still following […]

Impacts on China and India – The Diplomat

Advertisement The Diplomat author Mercy Kuo regularly engages subject-matter experts, policy practitioners, and strategic thinkers across the globe for their diverse insights into U.S. Asia policy. This conversation with Dr. Craig Kennedy — historian and energy commentator at the Davis Center of Russian and Eurasian Studies at Harvard University, former international finance executive at Morgan […]

Repairing pig cells and Pelosi’s trip fallout

The news: A new system called OrganEx stopped the deterioration of cells in pig organs one hour after the animal’s death, a finding that suggests cells don’t die as quickly as previously understood. The technology successfully restored blood circulation and repaired damaged cells in the pigs. Why it matters: Experts have called the research “truly […]

Investors dump Chinese stocks, bonds amid global recession fears | Financial Markets

The trade group report points to the sixth consecutive month of foreign outflows from China’s $20 trillion bond market. Foreign investors continued to cut holdings in Chinese bonds in July and dumped equities for the first time in four months, according to a report by the Institute of International Finance (IIF). Emerging markets (EM) posted […]

Understanding China’s Role in Sri Lanka’s Debt Restructuring Efforts – The Diplomat

Advertisement As Sri Lanka embarks on debt restructuring negotiations with key lenders in parallel to discussions with the International Monetary Fund (IMF), it is useful to consider the seminal role of China, one of Sri Lanka’s top creditors. How China deals with Sri Lanka will be a crucial determinant in the trajectory and timing of […]

The Achilles’ Heel of China’s Semiconductor Industry? – The Diplomat

China Power | Economy | East Asia Dependence on foreign lithography equipment emerges as a growing liability for Chinese chipmakers in the face of intensifying U.S.-led export controls. Advertisement To hedge against growing geopolitical and supply chain risks, Washington and Beijing have utilized industrial policies in recent years to bolster domestic semiconductor manufacturing. Although front-end manufacturing (or “fabrication”) is […]

Bill to boost U.S. chip production and competition with China clears key Senate hurdle

Thunderstorm clouds roll over the U.S. Capitol on July 25, 2022 in Washington, DC. Chip Somodevilla | Getty Images A bipartisan bill to bolster domestic semiconductor manufacturing and boost U.S. competitiveness with China has cleared a key Senate vote, setting it up for final passage in the chamber in the coming days. The so-called cloture […]

The Economic Effects of Extreme Heat in China – The Diplomat

Advertisement As heatwaves burn through the country, China will suffer the economic effects of extreme heat. Some cities are on high alert for temperatures above 95 degrees Fahrenheit, while many cities across the nation are likely to surpass 104 degrees F. This extreme heat will have economic impacts through power rationing, reduced crop yield, and […]

The semiconductor bill is uniting political rivals

The news: Last month, Stanford’s Sewer Coronavirus Alert Network, or SCAN, added monkeypox to the suite of viruses it checks wastewater for daily. Since then, the virus has been detected in 10 of the 11 sewer systems that SCAN tests, including those in Sacramento, Palo Alto, and several other cities in California’s Bay Area. Why […]

Wentian module successfully docks, China's Tiangong space station nears completion

Wentian module successfully docks, China’s Tiangong space station nears completion

The Wentian module was launched atop a Long March 5B rocket from Hainan Island at 2:22 p.m. local time on Sunday. Wentian, China’s largest ever spacecraft weighing 23 metric tons, is equipped with four scientific cabinets to conduct ecological and biotechnological experiments under varying gravity conditions. It also features a robotic arm for external experiments […]

Strict Government Censorship Requirements Leave Chinese Tech Companies Struggling Overseas – The Diplomat

China Power | Economy | East Asia The latest scandal regarding WPS Office highlights the bind Chinese tech companies face. Advertisement When using a word processing software, users look for reliability and privacy protections. Users of China-based Kingsoft’s WPS Office have reasons to be concerned on both fronts after the latest public relations turmoil. Earlier last month, a Chinese […]

China’s ‘Zero COVID’ Policy Is Hurting Its Semiconductor Dreams – The Diplomat

Advertisement Notwithstanding the alleviation of Shanghai’s rigid lockdown in early June, the market was obsessed with gloomy prognostications about the city and even the prospects for China’s national economy, especially the supply chain of major industrial sectors, such as integrated circuits (IC). In recent years, the Chinese government has been more ambitious than ever to revitalize […]

Opportunities and Challenges for China – The Diplomat

Advertisement After 20 years of negotiations, the construction of the China-Kyrgyzstan-Uzbekistan (CKU) railway is hoped to finally begin next year. An online meeting took place between China, Kyrgyzstan, and Uzbekistan recently and, according to their announcement, feasibility studies will be finished this year. Kyrgyz President Sadyr Japarov said construction will begin in 2023. Amid the […]

China’s Interventionist Approach to Managing Financial Risks – The Diplomat

Advertisement The growing number of Chinese companies with distressed balance sheets represents a significant threat to China’s financial stability. Real estate developers and private conglomerates are overloaded with debt and increasingly unable to access new financing. Many state-owned enterprises (SOEs) are deeply unprofitable and cannot service their debts without government support. Local governments depend on […]

China willing to ‘recalibrate’ strained Australia ties, FM says | Politics News

Wang Yi says Australia should “correct” its understanding of China for relations to “set sail again”. China’s Foreign Minister Wang Yi has told state media that Beijing is willing to reset its relationship with Australia after several years of tensions over national security and trade. “The Chinese side is willing to take the pulse [on […]

Will Tariff Reductions Help China-US Relations? – The Diplomat

Advertisement According to the Wall Street Journal, the Biden administration will soon announce tariff exemptions for some Chinese exports to the United States. This is the first time that the Biden administration has explicitly considered reductions of the Trump-era tariffs on Chinese goods, and the change reportedly comes due to domestic inflationary pressure. Tariff exemptions […]

U.S. emissions caused $1.8 trillion in global economic losses: study

An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States on March 8, 2022. Tayfun Coskun | Anadolu Agency | Getty Images The U.S. and China, the world’s two greatest greenhouse gas emitters, have each caused global economic losses of more than $1.8 trillion from 1990 to 2014, according […]

Macao, ‘Las Vegas of Asia,’ Tells Casinos to Grow Beyond Gambling – The Diplomat

Advertisement Losing money due to COVID-19, the American casino giants that helped make Macao the “Las Vegas of Asia” face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for […]

Assessing Technological Emergences – The Diplomat

Advertisement The Diplomat author Mercy Kuo regularly engages subject-matter experts, policy practitioners, and strategic thinkers across the globe for their diverse insights into U.S. Asia policy. This conversation with Dr. Richard Silberglitt – senior physical scientist and professor at Pardee RAND Graduate School, RAND Corporation– is the 326th in “The Trans-Pacific View Insight Series.”  Identify […]

Zhengzhou, Henan protests: China crushes mass demonstration by bank depositors demanding their life savings back

Zhengzhou, Henan protests: China crushes mass demonstration by bank depositors demanding their life savings back

Anguished depositors have staged several demonstrations in the city of Zhengzhou, the provincial capital of Henan, over the past two months, but their demands have invariably fallen on deaf ears. On Sunday, more than 1,000 depositors from across China gathered outside the Zhengzhou branch of the country’s central bank, the People’s Bank of China, to […]

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