The Chinese regime announced on July 26 that the third peak of this year’s flooding season has arrived in the upstream region of Yangtze River, while the second peak reached the midstream area. Roughly 459 million people live in the Yangtze River drainage basin as of the end of 2017, with 51 percent of them living
The conglomerate Tomorrow Group responded on July 18 to Beijing’s announcement of takeovers of nine of its subsidiaries with an online version of a “solemn statement.” The Tomorrow Group was founded in 1999 by Xiao Jianhua, who has been suspected of being a “white glove” (money launderer) for certain high-ranking communist officials in China. Chinese
WASHINGTON—China is the most powerful adversary that the United States has faced in recent history, and Washington needs to respond effectively to counter Beijing’s growing strength and aggressive behavior, according to experts. During a hearing held by the Senate Banking Committee, titled “US-China: Winning the Economic Competition,” on July 22, a panel of experts shared their
While the UK public was focused on Huawei’s involvement in the country’s 5G project, the Chinese regime quietly raised close to $2 billion on the London Stock Exchange last month, through a special listing programme between London and Shanghai. More listings are expected to take place in the coming months. On June 17, the China
A new round of flooding has emerged in upstream Yangtze River and is moving downstream, fast. An expert says this is creating a dilemma for the Three Gorges Dam. Rumors of Chinese banks collapsing are flooding social media in China. Worried customers have descended on several banks to withdraw their money. Police took people into custody,
News Analysis Globalisation, which has shaped the world economic order over the past few decades, was already in trouble before the pandemic. And with the emergence of COVID-19, the retreat from global economic integration has gained momentum, setting in motion a global reordering that’s expected to play out over decades. For the United States, President
Chinese premier Li Keqiang admitted that the global pandemic has brought “an unprecedented impact” on the Chinese economy, during a July 13 speech at an economic seminar. Explaining that the situation was grim, Li said the Chinese regime needed to support labor-intensive enterprises in order to create more jobs. Difficulties At a Monday seminar with Chinese economists
Commentary According to the IMF, global fiscal support in response to the crisis will be more than $9 trillion, approximately 12 percent of the world’s GDP. This premature, clearly rushed, probably excessive, and often misguided chain of so-called stimulus plans will distort public finances in a way we have not seen since World War II. The enormous increase
Commentary “Decoupling” from China seems easier said than done. Despite signals from U.S. political leaders to reduce economic and financial affiliation with the Chinese regime, in practice, U.S. financial institutions seem to be edging ever closer to Beijing. On the ground, evidence suggests that there’s more work to be done on the “decoupling” front. U.S. companies’ investments
Prime ministers Scott Morrison and Shinzo Abe met in a virtual leaders summit on July 9 to discuss ways for Australia and Japan to work together as trading partners and strategic allies as tensions grow in the Indo-Pacific region. Morrison said the meeting would build on the Australian-Japanese Special Strategic Partnership in a time when “there was global economic and strategic
News Analysis China wants its banking industry to share the pain and help to boost a slumping economy—to the tune of 1.5 trillion yuan ($212 billion). To combat the worst economic downturn in 40 years as the country attempts to rebound from the CCP virus crisis, the Chinese Communist Party’s (CCP) State Council has asked
Sen. Tom Cotton (R-Ark.) and Rep. Mike Gallagher (R-Wis.) applauded the Pentagon’s decision to issue a list of Chinese companies that are owned or controlled by the Chinese military. The list of 20 Chinese companies was published on June 24 in response to a request by Sens. Cotton, Gallagher, Chuck Schumer (D-N.Y.), and Ruben Gallego (D-Ariz.), laid out
News Analysis After a 6.8 percent year-over-year drop in the first quarter of 2020—the first decline in the Chinese economy since Beijing began quarterly reporting in 1992—a slow recovery is starting to take shape in the second quarter. But the positives are fleeting and “does not mean a return to anything approaching the old levels of growth,” said
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
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
