Business

Blizzard’s Handling of Hong Kong Protests to Serve as Lesson for Fortune 500 Companies Dealing With China: Rand Report

News Analysis A new Rand think tank report suggests that Fortune 500 corporations can learn lessons from video game maker Blizzard-Activision’s handling of comments by one of its champion online players in support of Hong Kong protests. Rand suggests corporations are skilled in dealing with international friction such as Mercedes-Benz’s 2018 Dali Lama-inspired advertisement and

Billion-Dollar Chinese P2P Lender Collapses 2 Weeks After Filing for IPO in New York

A large Chinese peer-to-peer (P2P) lender collapsed just a couple of weeks after seeking final approval to launch an initial public offering (IPO) at the U.S. Nasdaq stock exchange. Tairan, which operates under Xiaotai International Investment, folded after its founder, Pan Baofeng, surrendered himself to police in Hangzhou, Zhejiang Province on Nov. 1, saying his

Resolving China’s State Subsidies Key to Calming Trade Tensions

WASHINGTON—The new partial trade deal with Beijing fails to address Chinese subsidies, one of the top concerns of the Trump administration and the impetus for starting a trade war, and it will be difficult to ease U.S.–China tensions if the issue of state subsidies remains unresolved, according to experts. Unfair and trade-distortive government subsidies have

Is CCP Opening Up Financial Industry to Save the Economy?

NEWS COMMENTARY As China continues to see its economy decline and foreign exchange reserves shrink, the Chinese Communist Party (CCP) has announced plans to open up the Chinese financial markets to foreign countries as a way to alleviate an immediate economic crisis and address long term concerns. However, the Western financial firms represented by the

US, China Look Forward to a Trade Deal Amid Abrupt APEC Cancellation

Both U.S. and Chinese officials indicated that they are moving to finalize the “phase one” trade deal on Oct. 30, the same day when Chile announced that it would no longer host a major international summit meeting, during which the deal was due. The Asia-Pacific Economic Cooperation was scheduled for Nov. 16 to 17 in

China’s IP Theft Remains a Thorny Issue in Trade Talks

WASHINGTON—Whether the United States and China will sign the first part of a trade deal at the APEC meetings in Chile isn’t yet certain, and one obstacle in the ongoing talks is China’s stance on intellectual property. This is one of the most problematic issues in the trade talks, as Beijing wouldn’t “move the needle”

Apple CEO Appointed Chair of Board at Top Chinese University With Close Ties to Beijing

Apple’s CEO Tim Cook recently became the chairman of an advisory board at the business school under China’s prestigious Tsinghua University, as the tech giant faced criticism for caving in to the Chinese regime’s censorship rules owing to its business interests in China. Cook’s role at the board was to make Tsinghua’s School of Economics and Management

European Union Demands Same Trade Deal As US Seeks From China

The European Union Chamber of Commerce in China issued a new “Position Paper” demanding the same trade concessions the United States has sought in the Sino-U.S. trade war. EU Chamber of Commerce President Jörg Wuttke published “Position Paper 2019/2020” that demands China to adopt “Competitive Neutrality” to end unfair protection and financial favoritism for its

Crisis in World Trade Signals Globalism’s Failure

News Analysis WASHINGTON—Globalization, the most powerful economic force to have shaped the world over the past two decades, is now giving way to a new world order. Souring sentiment against globalization, particularly in developed countries, has led to a global revival of nationalism. President Donald Trump seized the moment by taking a protectionist stance with

India Signs 7 Deals With Bangladesh to Fend Off Chinese Influence

India’s efforts to ward off Chinese influence in its backyard got a major boost with the signing of seven deals with Bangladesh, its Southern Asian neighbor, on Oct. 5. The signings followed a visit by Bangladeshi Prime Minister Sheikh Hasina to India. The agreements included adopting a standard operating procedure on India’s use of the Chattogram (also known

What Can We See From The Sudden Escalation Of The Sino–US Trade War?

The back-and-forth tussle between the United States and China in the Sino–U.S. trade war has taken a new turn, with Beijing’s sudden offensive aimed at the American economy and causing a political fiasco for Trump that could affect next year’s U.S. presidential elections. For the first time in history, a world economic power has taken

China Losing $97 Million a Day Due to Attacks on Saudi Arabia Oil Facilities

News Analysis Drone attacks on Saudi Arabia’s oil facilities are costing China another $97 million a day as the largest customer of Saudi Arabia, and the world’s biggest crude oil importer. The Sept. 14 attack by ten armed drones on state-owned Aramco’s Khurais oilfield was launched from over 745 miles (1,200 kilometers) away by Houthi rebels in Yemen. Huge

Chinese Tech Giants Baidu, Alibaba, and Tencent Are De Facto Tools of Chinese Regime: US Official

A U.S. State Department official called out Chinese tech firms such as Alibaba, Baidu, and Tencent as Huawei “siblings” for their role in facilitating China’s pervasive state surveillance and global agenda. “Chinese technology giants have become deeply enmeshed in Beijing’s system of oppression at home and its increasingly assertive strategic ambitions globally,” said Christopher Ford, the assistant secretary of state

Chinese Dealmaking Hits 5-Year Lows on Trade War Pain

News Analysis Global transactions slowed in the first half of 2019 led by China, which saw mergers and acquisitions (M&A) plunge to a 5-year low as U.S.-China trade war pain set in. Chinese leader Xi Jinping launched his ambitious infrastructure investment project, the “One Belt, One Road” (OBOR) initiative, in September 2013,  which traced the

IMF Warns That China’s Savings Rate is Shrinking Fast

The International Monetary Fund reported that China is suffering its first series of annual current account deficits in 25 years because its savings rate is shrinking fast. The IMF’s mission since its 1945 founding has been to ensure the stability of the global monetary system of exchange rates and payments for its 189 member nations

As Economy Spirals, Beijing to Boost Consumers and Infrastructure

News Analysis China’s factory production activity fell in August for the fourth consecutive month as the world’s second-largest economy continues to suffer from slowing economic growth. August’s purchasing managers index (PMI) fell to a reading of 49.5, according to official metrics released on Aug. 31 from the National Bureau of Statistics. That’s 0.2 points below

Japanese Companies Shifting to Southeast Asia as New US Tariff Hits

A number of Japanese companies are considering relocating their part of their manufacturing away from China, after the latest round of U.S. tariffs which went into effect on Sept. 1. Among those contemplating relocation is Japanese fashion retailer Uniqlo, which has 52 stores in the United States and 698 stores in China. The retailer is

US-Japan Trade Deal Upends China’s Only Bargaining Chip in Trade Talks: Commentator

U.S. President Donald Trump and Japan Prime Minister Shinzo Abe reached an agreement on Aug. 25, whereby the latter promised to import $7 billion more of U.S. agricultural products. Although both Trump and Abe did not directly mention the U.S.-China trade talks, some observers have analyzed that it would have a potential impact on Beijing’s negotiating tactics. US-Japan

Chinese State-Owned Rail Car Manufacturer Set to Buy German Factory

The state-owned China Railway Rolling Stock Corp. (CRRC), the world’s biggest railcar-maker by revenue, is set to gain a foothold in the European rail market, after a proposed deal to acquire a German factory. CRRC has so far relied heavily on the domestic market for the majority of its business. According to China’s state-run daily China

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