Business

China’s former finance minister Lou Jiwei warned in a recent speech that China’s “immature” 5G technology is likely to become a failed investment. In recent weeks, Chinese leader Xi Jinping has emphasized the need for the country’s economy to develop an “internal circulation system—in other words, having domestic sectors produce all the goods for Chinese

After severe flooding in central and southern China ruined rice crops, many farmers have been left struggling. Following heavy rainfall in the past half-month, some rice crops began to sprout, meaning they can no longer be harvested. More rain is expected in central, southern, and southwestern China for the next couple of days, with some

Commentary On Sept. 15, the General Office of the Chinese Communist Party’s Central Committee issued a set of guidelines “for strengthening the United Front Work in the private sector.” The Chinese Communist Party (CCP) rarely publishes documents about its United Front Work that involves private enterprises in China. This rare incident exposes the real situation

Commentary Amid drastic international and domestic changes, the Chinese Communist Party (CCP) recently claimed to have made a major strategic deployment—accelerating the formation of a “dual circulation” economic model that centers on “internal circulation” and having “international circulation” play a supporting role. What is this so-called international economic circulation and what does the CCP plan

Japan, India, and Australia are planning a new global supply network and are working out an initiative called the Supply Chain Resilience Initiative (SCRI) to reduce dependency on China, experts say. The initiative is a result of the emerging geopolitics in the post-coronavirus world, they say. “This cooperation is well-related to current U.S. policy toward

News Analysis U.S. technology stocks suffered the biggest two-day loss since March on Sept. 3 and 4. Leading the way downward were U.S. chipmakers which underperformed the broader sector following news that China is planning policy changes to boost its domestic semiconductor industry. The stock drop suggests trepidation from investors. But despite Beijing’s will to

st Party has a long history of retaliating against other country’s decisions that involve what it deems as threats to its power. The regime’s response to a U.S.–Taiwan deal would be “all about Beijing’s decision matrix,” said David Stilwell, assistant secretary of state for East Asia and Pacific affairs. “But, our job is to obviously

Commentary In April of this year, the Chinese regime announced that it would launch a digital currency pilot program. In early August, China’s four major banks—Bank of China, China Construction Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China—expanded digital currency testing in first-tier cities, such as Shenzhen. By mid-August, the Chinese

Multi-level marketing giant Herbalife Nutrition Ltd. has agreed to $123 million to settle federal charges that it bribed Chinese officials to advance its business in China, the U.S. Department of Justice said on Aug. 28. Herbalife, a Los Angeles-based multi-level marketing company that sells health and dietary supplements, admitted to engaging in a decade-long scheme

Commentary Misguided lockdowns have destroyed the global economy, and the impact is likely to last for years. The fallacy of the “lives or the economy” argument is evident now that we see that countries such as Taiwan, South Korea, Austria, Sweden, or Holland have been able to preserve the business fabric and the economy while doing a much

News Analysis The controversial national security law Beijing imposed on Hong Kong last month has been a boon for Chinese investment banks looking to take market share in the territory. Hong Kong has traditionally been the place for mainland Chinese companies to raise debt and equity funding from foreign investors. And in this setting, Wall