CHINESE BALLOON ADVANCED
US proposes rules to stop Americans from investing in Chinese technology with military uses
The proposed rule stems from President Joe Biden's August 2023 executive order regarding the access that "countries of concern" have to American dollars that fund advanced technologies, which the US government says would enhance their military, intelligence, surveillance and cyber capabilities. The order identified China, Hong Kong and Macau as countries of concern.
Russia and North Korea sign partnership deal that appears to be the strongest since the Cold War
Russian President Vladimir Putin and North Korean leader Kim Jong Un signed an agreement pledging mutual aid against "aggression," signaling stronger ties amid their standoffs with the West. The summit marked Putin's first visit to North Korea in 24 years and raised concerns over potential arms deals for Russia's war in Ukraine. The agreement enhances security, trade, and cultural ties. U.S. and South Korean officials expressed alarm, and Putin’s subsequent visit to Vietnam underscores Russia’s efforts to bolster alliances amid global tensions.
Domestic copper at lifetime highs; factors affecting the price surge
Record copper prices are driven by Chinese stimulus, mine supply concerns as well as green demand. MCX and LME futures surge. The Chinese 1 trillion yuan stimulus has boosted industrial metals demand for electric vehicles, renewable energy, and power grids. Goldman Sachs predicts major copper market deficit with US manufacturing rebound.
China's PLA undergoes major restructure as it emphasises information capabilities for war
Xi Jinping replaces PLA's Strategic Support Force with Information Support Force in a significant overhaul. The move aims to enhance military efficiency and political oversight, with direct CMC control over the new force. Former SSF's functions, including cyber and space operations, are divided among the four arms, emphasizing centralized command.
China's factory, services activity growth slows in April
The official purchasing managers' index (PMI) dropped to 50.4 in April from 50.8 in March, above the 50-mark separating growth from contraction, and beat a median forecast of 50.3 slightly in a Reuters poll.
China regulator to ban Evergrande chair from securities market for life
Chinese regulators are set to ban Evergrande's chairman for life from the securities market due to financial fraud, according to a subsidiary of the embattled property giant. The China Securities Regulatory Commission (CSRC) plans to impose a lifetime ban on Xu Jiayin, also known as Hui Ka Yan, for his alleged involvement in financial misconduct. Evergrande, once China's largest real estate firm, has struggled with debt and defaults, highlighting broader challenges in the country's property market.
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Intel survived bid to halt millions in sales to China's Huawei
The push came from Intel rival Advanced Micro Devices, which argued it was unfair that it did not receive a license to sell similar chips to Huawei and from China hawks, who are seeking to stop all sales to the Chinese firm.
US companies are picky about investing in China. The exceptions? Burgers, lattes
As tensions simmer between China and its Western trading partners, many MNCs are shifting investments to other places, such as Southeast Asia or India, or repatriating their earnings. That has sapped China of a key engine when its economy has yet to fully recover from the disruptions of the pandemic and a property industry crisis that has been a drag on growth.
This year's Biden-Xi summit has better foundation but South China Sea and Taiwan risks won't go away
The U.S. and Chinese leaders meet Wednesday while attending the annual Asia-Pacific Economic Cooperation summit in San Francisco. They go into the meeting on the back of five months of government-to-government talks that have accelerated in recent weeks and expanded to cultural and business exchanges. In contrast, the November 2022 meeting in Bali, Indonesia, took place after China had suspended talks to express anger over a visit by then-U.S. House Speaker Nancy Pelosi to Taiwan.
What they want: Biden and Xi are looking for clarity in an increasingly difficult relationship
President Joe Biden and China's Xi Jinping have clear objectives for the highly anticipated talks on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation summit, a meeting that comes after what's been a fractious year for the world's two biggest economies.
Mood swing: Global producers in US hunt for China alternatives
A growing number of US businesses are looking to cut back their exposure to China and shift their investments to other countries, according to surveys. The souring trade relations between the US and China, as well as concerns over geopolitical tensions and government actions in China, have led to an accelerating exodus of businesses from the country. The top destination for foreign direct investment by US firms is now Mexico, surpassing China, while companies are pursuing a "China-plus-one" strategy by investing in low-cost countries like Vietnam and India.
Enormous military exercise in Australia shifts focus on PLA
asked the Australian general whether the ship's presence would constrain the multilateral exercise. "No. So, they'll passively collect and we'll adjust. There are some things we don't necessarily want to give away, and we have methods of being able to employ our forces without giving those, I guess, more sensitive aspects of our training away."
Janet Yellen says 'impossible' to decouple China, US economies
On Friday afternoon, Yellen is due to meet Premier Li Qiang at Beijing's Great Hall of the People, providing a chance to discuss the economic relationship, raise concerns and find opportunities for collaboration. "Yellen actually appears to be a more down-to-earth member of the Biden administration," Tao Wenzhao, a fellow at the Chinese Academy of Social Sciences, told AFP.
US Treasury Secretary Janet Yellen visits China as part of efforts to soothe strained relations
US Treasury Secretary Janet Yellen is set to tell Chinese officials that Washington wants healthy economic competition but will defend US trade curbs imposed on security grounds and express concern about Beijing's export controls. Yellen, who is due to meet Premier Li Qiang, will discuss targeted action by the US on trade due to national security or human rights concerns.
Treasury Secretary Janet Yellen is making a long-awaited trip to China this week
The U.S. president's statements have come after tensions over a Chinese surveillance balloon that the U.S. government shot down, U.S.-led restrictions on China's access to advanced computer chips and ongoing tensions about the status and security of Taiwan. Yet in Biden's dictator comments during a California fundraiser, the president told his audience "don't worry" about China as the U.S. has taken steps to compete with its financial and technological ambitions.
Antony Blinken lands in China on rare trip with hopes low for any breakthrough
Having postponed a February trip after a suspected Chinese spy balloon flew over U.S. airspace, Blinken is the highest-ranking U.S. government official to visit China since President Joe Biden took office in January 2021.
Antony Blinken to travel to China next week, carrying out trip postponed after spy balloon incident
U.S. officials say Blinken expects to be in Beijing on June 18 for meetings with senior Chinese officials, including with Foreign Minister Qin Gang and possibly President Xi Jinping.
Is India making use of its G20 presidency to advance developing world interests?
In our current interconnected, interdependent world, coordination of national policies and actions is a must, to ensure mutual interaction results in productive coherence for the world at large, rather than conflict. This calls for global platforms where leaders of the countries that matter can get together and agree on some things.
Shared info on shooting down Chinese Spy Balloons: US Pacific Command Air Chief
"I'm very happy to share our lessons learned (and) that was (part of) some of the discussions. How we did it and what considerations we had with shooting down that airship that was very high and not going that fast, presented some tactical challenges," General Kenneth S Wilsbach, Commander, Pacific Air Force, said, responding to a question on whether tactics on tackling such threats have been shared.
Letter from Washington: US' legislative counter to China is gaining fresh momentum
From listing more Chinese companies on the export control list (two dozen were named just last week) to blocking sales of advanced semiconductors to China, the quasi-containment policy is in action. Around 600 Chinese entities are now on the Commerce Department's blacklist.
Chinese balloon saga is part of a long history of US-China tensions
The Chinese origin of the first flying object - defended as a meteorological balloon by China, an explanation that was met with scepticism by U.S. officials - was especially concerning due to the long history of serious tensions between the United States and China.
U.S. and China vie in hazy zone where balloons, UFOs and missiles fly
High above Earth but below orbiting satellites, the United States and China are testing new defense systems. This little-known and little-seen strategic contest over near space - a phrase that is suddenly on the lips of every other American politician and policymaker - is increasingly critical for the honing of advanced warfare and certain types of espionage.
The U.S. and Canada shot down objects, but what were they?
The incidents came a week after the United States blasted a Chinese spy balloon out of the sky that was equipped with an antenna meant to pinpoint the locations of communications devices and was capable of intercepting calls made on those devices.
US holds drills in South China Sea amid tensions with China
The 7th Fleet based in Japan said Sunday that the USS Nimitz aircraft carrier strike group and the 13th Marine Expeditionary Unit have been conducting "integrated expeditionary strike force operations" in the South China Sea.
US holds drills in South China Sea amid tensions with China
It said exercises involving ships, ground forces and aircraft took place Saturday but gave no details on when the began or whether they had ended. China claims virtually the entire South China Sea and strongly objects to military activity by other nations in the contested waterway through which $5 trillion in goods are shipped every year.
US President Joe Biden vows "to protect" country in State of the Union speech, refers to China balloon
"I'm committed to work with China where we can advance American interests and benefit the world," US President Joe Biden said. "But make no mistake about it: as we made clear last week, if China threatens our sovereignty, we will act to protect our country. And we did." Beijing denied the balloon was an espionage device.
Chinese balloon advanced, hard to shoot down: US expert
A second Chinese surveillance balloon was later spotted over Latin America, the Pentagon said, without specifying its exact location.
Rupee firms as risk assets gain ahead of Fed meeting
The Chinese yuan reversed earlier losses to surge, pulling up most of Asian emerging currencies along with it, as the dollar index fell 0.5% to 110.95 ahead of the outcome of Fed meeting.The U.S. benchmark 10-year yield also dropped 9 basis points to 3.9839%, nearly 23 bps off its peak this month.
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