As Giorgia Meloni, leader of Brothers of Italy party, looks set to become Italy's first female prime minister at the head of its most right-wing government since World War II, how the new Italian government will handle its relations with China has drawn widespread public attention.
India recorded a strong double-digit economic growth in the second quarter this year, becoming the fastest growing major economy among G20 countries. This item of good news has been warmly received among Indian people and across Chinese society too. It is hoped that India could continue to climb the ladder of wealth by working and collaborating closely with China, the largest economy in Asia, to greet the true advent of "Asian Century."
In an effort to diversify its production away from China, Apple Inc has started producing the iPhone 14 in India.
There was a time when Asian economies made concerted efforts to promote regional financial cooperation in the wake of the 1997-98 Asian financial crisis, with the view of enhancing their ability to withstand outside financial risks. Now financial coordination is no longer the focus of regional economic development, but under the growing threat of the stronger US dollar, the intensifying wave of depreciation of Asian currencies seems to have offered a renewed opportunity for regional countries to once again facilitate financial cooperation.
As predicted, the US Federal Reserve made another large interest rate hike on Wednesday, adding further pressure to global equities markets and sending the Dow Jones Industrial Average below 29,600 points at the end of Friday trading. If compared with the index's all-time high of more than 36,000 points in late 2021, hundreds of billions of dollars of investors' and pensioners' savings have evaporated.
Indian External Affairs Minister Subrahmanyam Jaishankar said on Saturday that with India set to assume the presidency of the G20, the South Asian nation will work with other G20 member states to address serious issues of debt, food and energy security, Indian media outlets reported on Sunday.
Chief executives at some of the largest US banks came under pressure from US lawmakers to commit to taking a tougher stance on doing business with the Chinese mainland amid growing tensions over the Taiwan question, Reuters reported on Thursday.
The Indian government is reportedly to resume elaborate physical inspections on imports from China because it suspects that "a large-scale dumping" of finished products is occurring for intermediate product imports from China, the Hindustan Times reported on Thursday, citing people familiar with the matter.
Brent Neiman, a counselor to US Treasury Secretary Janet Yellen, urged China to "take part in coordinated debt relief for vulnerable nations to avoid the specter of a systemic sovereign-debt crisis," Bloomberg reported on Wednesday.
Excluding China, the rest of developing Asia is forecast to see 5.3 percent economic growth in 2022 - the first time in more than three decades that the rest of developing Asia will grow faster than China, the Asian Development Bank (ADB) said in its latest outlook report, which was released on Wednesday, CNBC reported.
Due to the Japanese yen's sharp depreciation, Japan's nominal GDP denominated in US dollar terms is likely to shrink significantly to below $4 trillion this year, falling back to a level last seen 30 years ago, the Nikkei reported on Monday.
Australian Prime Minister Anthony Albanese has said he wants Canberra and Beijing to have a good relationship but China needs to "come to terms with" Australia, accommodating its values, Sky News reported on Monday.
South Korean President Yoon Suk-yeol on Sunday kicked off a three-nation trip that will include his first address to the UN General Assembly and a summit with US President Joe Biden, according to the Yonhap News Agency.
With a total of $968 million in loans in four months of 2022, India "has emerged as Sri Lanka's largest bilateral lender, overtaking China in the process," India's ANI news agency reported on Monday, citing Daily Financial Times.
The world is facing "a global emergency of unprecedented magnitude" as the number of people facing acute food insecurity worldwide has more than doubled to 345 million this year since 2019, said David Beasley, executive director of the UN World Food Programme, according to Al Jazeera.
Stock markets around the world dropped sharply last week amid growing expectations of hawkish interest rate hikes by the US Federal Reserve to tamp down the country's persistently elevated inflation. Investors are on edge as the US central bank gears up for its policy decision this week, with some starting to brace for a big surprise.
Indian Prime Minister Narendra Modi's attendance at the Shanghai Cooperation Organisation (SCO) summit in Samarkand, Uzbekistan has attracted much attention and sparked a lot of speculation about India's position on various global and regional issues, as the US is stepping up efforts to lure the South Asian nation into its small clique.
US President Joe Biden announced on Thursday morning (US time) that a tentative deal had been struck to avert a national rail strike that could have brought devastating chaos to the country's supply chains amid already-high inflation.
The 15th WTO trade policy review of the US is scheduled to take place on December 14-16, during which WTO members will conduct a comprehensive review of the trade and investment policies launched by the US since 2019, chinanews.com reported on Wednesday, citing official information.
As the US Federal Reserve's monetary tightening policy is set to wreak havoc and cause shocks across the global economy, there is increasing urgency for China, Russia, and other economies to step up cooperation to break the US dollar's dominance in the energy market.
US nongovernmental organization Human Rights Watch (HRW) on Tuesday called on the Australian government to impose targeted sanctions against China over the so-called human rights violations by banning imports of products made using "forced labor," said a report from the Chinese version of VOA.
US President Joe Biden has signed an executive order to launch a national biotechnology and biomanufacturing initiative, which has been widely seen as a strategy aimed at bolstering US domestic biomanufacturing and artificially pushing a US decoupling from Chinese biotechnological ecosystems.
Europe's energy crisis is unfolding, and it could get a lot worse and more tumultuous, as EU countries, instigated by US, are tightening economic sanctions on Moscow.
Indian Prime Minister Narendra Modi will attend the Shanghai Cooperation Organisation (SCO) summit held in Uzbekistan this week, the government said in a statement on Sunday.
The conspicuous absence of India in the trade pillar, one of the four pillars of the US-led Indo-Pacific Economic Framework (IPEF), underlines the dispute between India and the US regarding the mechanism, a US-led geopolitical tool in disguise of economy issues, and implies an uncertain future of the framework.
Energy ministers of EU member countries are set to hold an emergency meeting on Friday to discuss how to deal with soaring gas and electricity prices, which could exacerbate serious challenges already faced by businesses and households across the continent, and could even trigger a financial crisis or an economic collapse.
The US Securities and Exchange Commission (SEC) warned that American accounting firms need to be cautious about taking on New York-listed Chinese companies as new clients, Bloomberg reported on Wednesday. The SEC asked US firms to fully vet their clients before engaging them, the report said.
Ministers from 14 member countries of the US-led Indo-Pacific Economic Framework for Prosperity, known as the IPEF, are reportedly set to have their first in-person gathering on Thursday and Friday in Los Angeles, marking the start of the so-called rules-making negotiations for the framework, which was launched in May and is widely seen as a Washington-created geopolitical tool to contain China.
As the new prime minister of UK, Liz Truss inherits an economy in crisis, with inflation at a 40-year high. In her first speech as prime minister, Truss was quoted as saying that she will help the nation "ride out the storm" with a "bold plan" for the economy.
German Economy Minister Robert Habeck is working to make some changes in Germany's China policy, and whether China can still be viewed as "a partner" is now under review, Radio France Internationale (RFI)'s Chinese edition reported on Tuesday, citing a report from German magazine Focus.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, has agreed to cut 100,000 barrels a day from crude output from October, reverting to the supply level for August.
German carmaker Volkswagen(VW)'s new CEO Oliver Blume said he wants to keep the company's plant in Northwest China's Xinjiang region, AFP reported on Sunday. Blume further stressed that the company offers "secure, well-paid jobs" to the people of Xinjiang.
India has broken into the top five suppliers of Christmas decorative items and T-shirts to the US, keeping the South Asian country in the race to be the next China, Bloomberg reported on Monday.
India has overtaken UK to become the world's fifth-largest economy, according to the latest calculations by Bloomberg. The piece of news is set to serve as a bitter reminder to UK's incoming prime minister of the bleak economic outlook facing the country, which is in urgent need of being pragmatic and courageous to resolve the real problems perplexing UK.
The Biden administration has moved to further restrict China's access to advanced semiconductor products and technology, placing seven more Chinese entities of aerospace on its export control list late August, and ordering Nvidia and AMD last week to stop providing high-end artificial intelligence and supercomputing microchips to Chinese companies in Washington's complete disregard for international trade rules.
South Korean chipmakers recorded their first fall in factory shipments in almost three years in July, with shipments tumbling 22.7 percent year-on-year, Bloomberg reported. As nationwide inventories remained elevated in July, South Korea's chip production slowed for the fourth straight month, a sign that major producers such as Samsung Electronics and SK Hynix are preparing for a downturn as demand begins to fade.
The US Commerce Department said on Wednesday it has suspended the "export privileges" of a Belgian company and its owner for 180 days due to its alleged attempt to "send sensitive technology to China," Reuters reported.
Doug Ducey, the governor of the US state of Arizona, arrived in China's Taiwan region on Tuesday for a "trade mission." Ducey is traveling with the head of the state's economic development agency, and the focus of their trip is to woo suppliers for the new $12 billion Taiwan Semiconductor Manufacturing Corp (TSMC) plant being built in the state, the Voice of America (VOA) reported.
US regulators have notified Chinese e-commerce giant Alibaba Group Holding, JD.com Inc and other US-listed Chinese companies for audit inspections starting next month, Reuters reported on Wednesday, citing three sources familiar with the matter.
An annual survey conducted by the US-China Business Council (USCBC) showed on Monday that optimism among American companies about the future business outlook in China has dropped to a record low, even though they continued to report strong performance metrics for the last year. Most notably, 89 percent of the firms surveyed indicated that their operations in China are profitable.
The CEO of Taiwan Semiconductor Manufacturing Company (TSMC) reiterated at a technology symposium on Tuesday that its ultra-advanced 3-nanometer chip production technology will be put into mass production "soon," Nikkei Asia reported. The comment came about one month after Samsung Electronics said it has succeeded in mass producing 3-nanometer chips, making the South Korean giant the first chipmaker in the world to reach the milestone.
German media outlet Handelsblatt recently published an article titled "A new China policy from the Ministry of Economic Affairs is necessary and overdue." The author calls on the German government to tighten guarantees for German companies' investments in China, and claims that there is no alternative to this harsh intervention.
A South Korean delegation comprising officials from various government departments will leave for the US to pay a three-day visit, during which South Korea aims to express concerns over the US' so-called Inflation Reduction Act, a recently signed law that reportedly excludes electric vehicles (EVs) assembled outside North America from tax incentives, the Yonhap News Agency reported on Monday.
Some overseas media outlets have begun to pour cold water on China's property sector, declaring the real estate "crisis" is at the heart of China's "economic troubles" because more urban homebuyers angered by stalled or stopped housing projects in some places "are to boycott mortgage payments". Some Western pundits even claim that US-style subprime loan crisis of 2008 is likely to reappear in China.
US Federal Reserve Chairman Jerome Powell delivered a stark message on Friday: The Fed will use its tools "forcefully" to deal with inflation that is still running near its highest level in more than 40 years, which means US interest rates will likely keep rising.
A survey by the American Chamber of Commerce in Taiwan showed that some 77 percent of respondents said there hasn't been significant disruption to their business operations amid the current situation in the Taiwan Straits. However, 17 percent said they had experienced disruption that partly stemmed from "changes in policies or other manifestations of concern from their offshore headquarters."
Japanese auto maker Honda is "considering decoupling supply chain from China," Reuters reported, citing Japanese newspaper the Sankei. Yet, a Honda spokesperson denied that the Sankei report is something announced by the company.
China and South Korea, celebrating their 30 years of diplomatic relations, should join in close partnership to strive for even greater mutual benefits and common prosperity for their respective peoples. The two countries should also try to be exemplary in the world in setting up pragmatic diplomacy.
In a meeting with Taiwan regional leader Tsai Ing-wen on Tuesday, Keiji Furuya, a Liberal Democratic Party lawmaker of Japan, whose trip to the island has prompted stern warnings from Chinese central authorities, expressed hope for Taiwan High Speed Rail Corp (THSRC) to purchase high-speed rail cars from Japan, according to media reports.
Canada-based Neo Performance Materials has agreed to buy a rare earth mining project in Greenland, the Chinese-language website of the Voice of America (VOA), the US government's propaganda arm, reported on Wednesday, claiming that the project is "paving the way for reducing dependence on China's rare-earth supplies."
Without confirmation from Apple Inc, some Western media outlets reported that the US technology company is preparing to recalibrate its iPhone 14 production between China and India. The Wall Street Journal assumed in a report that the company is boosting production outside its traditional base of China to reduce dependence on the country.
Taiwan regional leader Tsai Ing-wen on Monday claimed that the island will build sustainable chains for "democracy chips" in a meeting with Eric Holcomb, the governor of the US state of Indiana, Reuters reported.
UK media outlet the Sunday Times recently published an edited extract from a book written by British investigative journalist Richard Kerbaj, which revealed how the US essentially forced Britain to block Chinese tech giant Huawei from the latter's 5G network development.
Toyota is rebooting its strategy for India. This time, the Japanese carmaker is expected to focus more on lower-cost hybrids, instead of its flagship sedan in India - the Camry Hybrid, which is relatively expensive, Reuters reported on Monday. Central to Toyota's new strategy is a drive to cut the cost of full hybrid powertrains by carrying out localized production in India, the report said.
A report issued on Sunday by the Korea Chamber of Commerce and Industry (KCCI) showed that the proportion of Chinese purchases of South Korean semiconductor products to the country's overall chip exports increased 12.4 times from 3.2 percent in 2000 to 39.7 percent in 2021, the Yonhap News Agency reported.
To counter rapidly declining birth rates, China's central authorities issued new guidelines last Tuesday, which introduced a raft of policies for prenatal and postnatal support to inspire married couples to give birth to more children. Concerned about a possible workforce shortage sometime after 2030, the government is expected to work out other favorable measures to help reduce the cost of childbirth, parenting and education, in order to provide persistent support to a booming economy.
While the German economy became "increasingly dependent" on China in the first half of this year, there have been more frequent discussions among German media outlets and think tanks as to reducing German economic reliance on China. This unsettling trend that diverges from German's economic needs and interests will increase the risk of serious consequences for the German economy.
The British Government has blocked the takeover of British electronic design company Pulsic by Super Orange HK, a company from China's Hong Kong Special Administrative Region, UK media outlet the Telegraph reported on Thursday, in a fresh sign of growing hostility in the UK toward Chinese investment.
Philippine Transportation Secretary Jaime Bautista said the country is considering partnering with Japan to revive major railway projects, and the government held talks last week with officials from the Japan International Cooperation Agency, the South China Morning Post reported on Wednesday.
The US government, following a year's meticulous planning, has crafted a new law to heavily subsidize America's private semiconductor manufacturers. Billed as the CHIPS and Science Act which US President Joe Biden signed a week ago, the law would provide a total of $52.7 billion for American semiconductor research, development, manufacturing and workforce development.
Apple is in talks to make Apple Watches and MacBooks in Vietnam for the first time, marking a "further win for the Southeast Asian country as the US tech giant looks to diversify production away from China," Japanese media outlet Nikkei reported on Wednesday.
An online rumor about an impending Chinese ban on agricultural imports, particularly meat, from Australia and New Zealand due to concerns about foot and mouth disease posted by a Chinese social media account has sparked widespread concerns in Australia - a clear reflection of Australia's guilty conscience over its mistake in undermining China-Australia ties.
International crude oil price continued to drop on Monday, with US' West Texas Intermediate oil futures slipping to $86.82 a barrel, its lowest level since early February just before the outbreak of Russia-Ukraine conflict. However, the Washington Post said "China's surprise rate cut, economic slowdown send oil prices plunging."
In a speech marking the 75th anniversary of India's independence from British rule, Indian Prime Minister Narendra Modi pledged on Monday to raise millions out of poverty and turn India into a developed nation within 25 years.
As India celebrated the 75th anniversary of its independence from British rule on Monday, the country's economic development has attracted much attention. As the world's sixth-largest economy, India is expected to grow by more than 7 percent this year, the fastest rate among major economies.
Elon Musk, co-founder and CEO of US electric vehicle (EV) company Tesla, on Monday celebrated the milestone output of the company's Shanghai Gigafactory on Twitter, posting "congrats Giga Shanghai on making millionth car! Total Tesla's made now over 3 [million]."
As US President Joe Biden is set to host leaders of Pacific island countries at the White House in September, island nations will be watching how seriously his administration takes their calls for help to combat climate change, the South China Morning Post (SCMP) reported on Sunday, citing analysts.
It is disturbing for global supply chains to see the US apply increasing administrative intervention in normal market competition when it comes to advanced technology areas such as semiconductors.
After the breakout of the Russia-Ukraine conflict early this year, US-led Western governments imposed a raft of sweeping financial sanctions on Moscow including freezing its foreign exchange reserves. The thought the US may move to grab anybody's assets who refuses to obey Washington's dictates is truly unnerving, which is now inducing more countries to diversify their reserve assets away from US dollars.
China is by far the biggest and fastest growing market for many global high-tech giants. Its huge market advantage that has been repeatedly mentioned by high-tech enterprises is a factor that makes those companies reluctant to choose sides between the US and China. However, many may have overlooked another thing: China's scientific strength in major subjects and in some fields of new technology has approached or already reached the world's advanced level.
It is, of course, impossible for Pelosi to admit to the public that she has been affected by the sanctions. But given what the public knows about the "rich woman on Capitol Hill," China's sanctions will inevitably cause her pain.
Tokyo Electron, one of the world's major suppliers of chip making equipment, appears to be very concerned about US moves to broaden restrictions on high-tech exports to China, a crucial market for the Japanese chip gear maker, according to a recent Nikkei report.
The Democratic Progressive Party (DPP) authority on the island of Taiwan is attempting to sabotage Foxconn Technology Group's plan to invest $800 million in the Chinese mainland-based chipmaker Tsinghua Unigroup, Reuters reported on Wednesday. And, some DPP officials on the island reportedly even claimed they will definitely not let the deal go through.
Many multinationals have chosen to withdraw from the Indian market or reduce their investment and production line footprint in the country. From the Ford Motor, General Motors, Harley-Davidson Co, which announced earlier that they would withdraw from the Indian market, to Citibank, Holcim and other companies that recently announced that they would reduce or adjust their investments, these multinationals have all shown disappointment with the Indian market.
An economic "decoupling" of the EU and Germany from China, the world's manufacturing powerhouse, would cost the German economy almost six times as much as Britain's exit from EU, or Brexit, Munich-based research group ifo Institute reported.
As tensions escalated across the Taiwan Straits as a result of US House Speaker Nancy Pelosi's provocative visit to the island, Western public opinion has turned to whether the US-China tensions over the Taiwan question will lead to another global semiconductor crisis.
In pursuit of an economic way out of its current predicament, Japan is facing a crucial choice: whether to jump with both feet onto the US chariot and jointly oppose China, or to adopt a strategy that is in their own interests to minimize the risks for their economy.
US Secretary of State Antony Blinken is in South Africa on the first leg of a three-nation African trip, where he has met with South Africa's foreign minister, Naledi Pandor, and will describe a new US strategy for Sub-Saharan Africa, according to AP.
As the Biden Administration is about to unveil a new Africa strategy, senior US diplomats are paying visits to Africa. Following US Representative to the United Nations (UN) Linda Thomas-Greenfield's visit to the continent, US Secretary of State Antony Blinken arrived in South Africa on Sunday to kick off a three-country tour.
Continuing going further down the wrong path of supporting "Taiwan secessionists," a Lithuanian delegation led by the nation's vice-minister of transport and communication is scheduled to begin a five-day visit to China's Taiwan on Sunday, several days after US House Speaker Nancy Pelosi landed on the island on July 2.
The world's major power, the US, is not putting required resources in place to ramp up green growth, but stubbornly insist on forming exclusive political, military and technology groups to squeeze its imagined rivals, which has made the world more divided and fragmental.
Several Western media outlets have in recent weeks published articles criticizing a "surge" in anti-Japan sentiment among the Chinese public. The Voice of America, the propaganda arm of the US government, went even further, asserting, in an article on its Chinese website on Wednesday, that the Communist Party of China "manipulated" public opinion against Japan for the purpose of exerting pressure on Japanese enterprises doing business in China, hoping to "indirectly influence" Tokyo's unfriendly policy toward China.
Shortly before she started what seems to be a "graduation trip" to Asia before stepping down as widely expected, US House Speaker Nancy Pelosi was embroiled in a scandal over her husband's purchase of chip stocks ahead of the passage of a chip subsidy bill at the US Congress, with some accusing her family of cashing in on her job and others mockingly calling her the "god of stocks of Capitol Hill."
The Indian government is looking into cases of alleged tax evasion by three Chinese mobile companies - Oppo, Vivo India and Xiaomi, the Financial Express reported on Wednesday, citing India's Finance Minister Nirmala Sitharaman.
With tensions escalating in the Taiwan Straits, the Chinese mainland authorities on Wednesday announced economic punishment on Taiwan secessionists, fueling speculation as to where the trade between the Chinese mainland and the island of Taiwan will be heading.
Zambia has canceled $1.6 billion in agreed upon but not-disbursed Chinese loans, mostly from the Export-Import Bank of China and the Industrial Commercial Bank of China, to help manage its debt woes, the South China Morning Post (SCMP) reported on Monday.
The UK's House of Commons' Foreign Affairs Committee is planning a visit to the island of Taiwan probably in November or early December this year, The Guardian reported on Monday.
In order to secure an early disbursement of an IMF loan, Pakistan's military chief has reportedly sought help from the US, some US media outlets have reported. The IMF last month finally agreed to provide a financial lifeline of $4 billion to Pakistan. However, the loan agreement is still subject to approval by the multilateral lender's board.
Weeks before the Russia-Ukraine conflict started, Australia's former prime minister Scott Morrison suggested Australia could step in and help when it comes to supplying its huge reserves of liquefied natural gas (LNG) to its European allies. Awkwardly, some in Australia are now warning of a potential shortage in the country and urging to set aside gas for Australia's own electricity network before selling to the rest of the world.
The US economy shrank for a straight second quarter, with official data showing its GDP contracting at an annualized rate of 0.9 percent from April to June. It has already slumped 1.6 percent in the first three months of this year. Two consecutive quarters of economic contraction is widely regarded as the metric for determining whether an economy has slipped into a recession.
Tony Danker, director-general of the Confederation of British Industry, said that thousands of British companies are cutting economic ties with China in anticipation of a further deterioration in relations between China and the West, the Financial Times reported on Saturday.
Samsung Electronics, the world's largest memory chip maker, said on Thursday that it expects mobile and PC chip demand would continue to weaken as macroeconomic uncertainties persist, according to Reuters. Earlier, US chipmaker Qualcomm Inc forecast lower-than-expected sales revenue for the current quarter as a slowdown in smartphone demand hit its mainstay handset chip business, Reuters reported.
The US state of North Dakota's governor Doug Burgum sent a letter to US federal officials asking that the Committee on Foreign Investment in the United States (CFIUS) conduct an expedited review of Fufeng Group's recent purchase of land for a wet corn milling plant, the Voice of America (VOA) reported on Thursday.
US Republican Senator Marco Rubio, known for his radical anti-China views, along with fellow Republicans, on Tuesday introduced a bill that is seeking to sanction China's purchases of oil and other energy supplies from Russia, according to a Bloomberg report.
US Federal Reserve Chairman Jerome Powell strongly pushed back against a report released Tuesday by US Senate Republicans that alleged China tried to infiltrate the Fed by recruiting or influencing its employees and economists in an effort to gather inside information on the US economy.
China's economy slowed to 0.4 percent growth from April to June due to sudden pandemic induced lockdowns in Shanghai, Changchun and other Chinese cities. So it is imperative to unify national coronavirus prevention and control measures while ramping up efforts to accelerate domestic consumption and urban housing construction and sale during the second half year if the government wants to achieve relatively strong GDP growth for 2022.
US President Joe Biden was set to meet virtually with the chairman of South Korean conglomerate SK Group on Tuesday "to discuss the company's investments in American manufacturing and jobs," Reuters reported, citing the White House.
The US Federal Reserve is widely expected to raise interest rates by 0.75 percentage points at its policy meeting later this week, even though its tightening of monetary policy could further aggravate a global debt crisis and trigger competitive currency devaluation, with developing countries bearing the brunt.
Citing industrial insiders, experts and officials, Indian media outlet Indian Express on Tuesday said that India can beat China as a prime components manufacturer, adding this is of significance in the backdrop of the COVID-19 induced disruption to global industrial and supply chains.
The US will host a ministerial meeting on Tuesday, bringing together officials representing the 14 member countries that have joined the US-led Indo-Pacific Economic Framework for Prosperity (IPEF), as Washington seeks to expand its engagement with Asia, Reuters reported.