Commentary President Donald Trump’s trade deal with China is dead. Hailed as a good first step when it was signed on Jan. 15, the phase one trade agreement was more about posturing than purchasing. Still, as we know, much has transpired since then that has made it difficult to imagine Beijing honoring its U.S. import
CommentaryMultinational corporate executives are keenly watching HSBC’s increasingly perilous tight-rope dance. Goodness knows they may be next in line to perform. With apologies to Standard Chartered, London-based HSBC is the face of Hong Kong’s financial industry and is one of the biggest multinational corporations in the city. In an uncomfortable but unavoidable foray into politics, HSBC recently
Will China Terminate the Trade Deal? CCP Suspends Purchase of US Agricultural Products amidst escalating tensions over Hong Kong.
According to Reuters on June 1, Chinese authorities had ordered state-owned enterprises to suspend the purchase of agricultural products such as US soybeans and pork. The picture shows the American farmers harvesting soybeans. (Scott Olson/Getty Images) After authorities of the Chinese Communist Party (CCP) pushed the new national security law in Hong Kong, US-China tensions
Sen. Rob Portman (R-Ohio) outlined how his new legislation will help prevent intellectual property theft by the Chinese Communist Party (CCP), which he said, has been overlooked far too long. Portman, along with Sen. Tom Carper (D-Del.), the ranking member of the permanent subcommittee on investigations (PSI), and other colleagues, are introducing the Safeguarding American
Industry minister Karen Andrews is hoping to galvanize Australia’s manufacturing sector as businesses grapple with the aftermath of the CCP virus. Meanwhile, defence expert Michael Shoebridge believes that Australian businesses will need to reassess their reliance on the China market. Bringing Innovation to Manufacturing Andrews, the minister for industry, science, and technology, said that she is hoping traditional
According to statistics released by the Chinese government in April 2020, China was hit by a 6.8% drop in its gross domestic product (GDP) year-on-year in the first quarter of 2020. This is the first time that China has recorded a negative GDP growth since it first released quarterly GDP data in 1992. However, according
Commentary The Chinese Communist Party (CCP) is not used to being pushed around. But U.S. President Donald Trump knows how to shove, and he can shove pretty hard when he sets his mind to it. Within the space of a year or so, from 2018-2019, he trashed all of the fundamentally imbalanced trade arrangements that
In a week of escalating trade tensions with China, Senator Concetta Fierravanti-Wells has called for Australia to establish an economic “plan to decouple from China.” The call comes as twice this week China took economic action against Australia by proposing an 80 percent tariff on barley imports and announcing the suspension of meat imports from four local
Commentary The global auto industry is currently mired in a crisis worse than the 2008 financial crisis. J.D. Power & Associates, an industry research firm, estimated that since the outbreak of the CCP (Chinese Communist Party) virus, auto dealers have sold almost 800,000 fewer cars and trucks than its 2020 forecast. Virtually every auto plant in the United
Ever since the first few cases of Covid-19 came to light in Wuhan City in the Hubei Province of China, the world has never been the same. Now a global pandemic, the disease has infected millions throughout the world and forced entire countries into lockdown. Among the largest and most heavily affected countries, the U.S.
Rep. Mark Green (R-Tenn.) is set to introduce a bill to help companies move their manufacturing from China to the United States as momentum builds for the country to “decouple” from the Chinese regime as a result of the pandemic. Green told The Epoch Times that his forthcoming bill would allow firms to deduct the entire cost
Before the virus hit, the woodworking machines at a Chinese furniture factory never stopped humming, even overnight on the weekend, as orders from Europe and Japan flew in. Now, workers get two days off each week and count themselves lucky if they have two hours of work on the other days. “This has never happened
Commentary “The only thing we have to fear is fear itself.” Those were the famous words of Franklin Delano Roosevelt, spoken at his first inauguration on March 4, 1933, at the height of the Great Depression. Unemployment had hit 25 percent and there was panic in the land. Roosevelt was the epitome of calm and reassurance. He told the
Colorado, Mississippi, Minnesota, Montana, and Tennessee on Monday became the latest among a wave of states to declare that they would begin to ease CCP virus lockdown restrictions, in a bid to reopen their pandemic-ravaged economies. Despite warnings from health experts that there is still too little diagnostic testing, the states said that under new
WASHINGTON—The COVID-19 pandemic is going to have serious implications for how businesses think about China. Souring sentiment against the Chinese communist regime over the past few weeks may force many corporate boards to alter their whole supply chains in a very short time. There will be a “forced decoupling” from China, meaning cutting off economic ties for national and
News Analysis The CCP virus may destroy China’s Belt and Road Initiative (BRI) that since 2013 has launched 2,951 projects worth $3.87 trillion, according to a new report by Oxford Business Group. Chinese leader Xi Jinping stated that he drew inspiration for BRI (also known as One Belt, One Road) from the Silk Road established
BEIJING—China’s economy shrank for the first time in almost three decades of records in the first quarter, as the CCP virus paralyzed production and spending, raising pressure on authorities to do more to stop mounting job losses. Gross domestic product (GDP) fell 6.8 percent in January-March year-on-year, official data from the Chinese Communist Party (CCP) showed on Friday—slightly larger
Commentary Governments currently have their hands very full trying to contain a pandemic and give everybody tons of free money with tax revenue in free fall. Seems that silly old private economy mattered after all. But geopolitics isn’t on hold either. So with China’s navy on the prowl while the United States docks carriers to protect
Governments currently have their hands very full trying to contain a pandemic and give everybody tons of free money with tax revenue in free fall. Seems that silly old private economy mattered after all. But geopolitics isn’t on hold either. So with China’s navy on the prowl while the United States docks carriers to protect crews,
Commentary Trade talks with China are ongoing, and recent events have put a spotlight on the longstanding ethical debate regarding free trade, human rights, and corporate responsibility. China’s demand in October for the NBA to fire the Houston Rockets’ general manager is the latest high-profile organization threatened by the authoritarian regime challenging one of the
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