St. Michaels: A Tourist Town, Twice Reinvented-
U.S. customs agents recently seized more than $16 million worth of counterfeit goods in Laredo, Texas, a shipment that originated from China and was possibly smuggled through Mexico, according to the U.S. Immigration and Customs Enforcement (ICE). The fake goods, totaling almost 79,000, included designer clothing, electronic goods, and athletic shoes mimicking Hermes, Louis Vuitton, […] -
OTTAWA—The federal government has blocked the proposed $1.5-billion takeover Aecon Group Inc. by a Chinese state-owned company for reasons of national security. A spokesman for Economic Development Minister Navdeep Bains has confirmed the government’s decision to prevent CCCC International Holding Ltd. from acquiring the Aecon construction firm. Before the decision, the Trudeau government had been warned by experts […]
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WASHINGTON—U.S. President Donald Trump floated a plan to fine Chinese telecoms firm ZTE and shake up its management on May 22, as his administration considered rolling back more severe penalties that have crippled the firm. Trump’s proposal to ease penalties on ZTE ran into resistance in Congress, where Republicans and Democrats accused the president of […]
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BEIJING—Washington neared a deal to lift its ban on U.S. firms supplying Chinese telecoms firm ZTE, sources said on May 22. Meanwhile, Beijing announced tariff cuts on car imports, further easing trade tensions between the world’s two largest economies. The reprieve for ZTE, which was hit by a seven-year U.S. ban in April that had […]
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China is notorious for its poor copyright protection, with one international company after another turning to Chinese courts to sue for copyright infringement. The popular U.S. brand of Ritz crackers is at the center of the lastest trademark infringement case in China. On May 15, Dongguan Intermediate People’s Court in southern China’s Guangdong Province held […]
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China is slowly amassing control over the global supply of lithium, an important mineral in the production supply chain of new technologies.
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YAJI MOUNTAIN, China—On Yaji Mountain in southern China, they are checking in the sows a thousand head per floor in high-rise “hog hotels”. Privately owned agricultural company Guangxi Yangxiang Co. Ltd. is running two seven-floor sow breeding operations and is putting up four more, including one with as many as 13 floors that will be […]
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A bid to take over Portugal’s biggest utility firm Energias de Portugal (EDP) by a Chinese state-owned company could have reverberations across Europe and North America.
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Just days after Chinese media reported that an unprecedented number of corporations have defaulted on bonds they owed, the Chinese regime has announced that local governments can issue bonds to repay debts that will mature in 2018—highlighting the enormity of China’s debt problem. The policy was announced on May 15 by the Ministry of Finance, […]
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SHANGHAI—The co-pilot of a Sichuan Airlines flight that was forced to make an emergency landing on Monday was “sucked halfway” out of the plane after a cockpit windshield blew out, media reported, citing the aircraft’s captain. Liu Chuanjian, hailed a hero on social media after having to land the Airbus A319 manually, told the Chengdu […]
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Chinese ride-hailing app Didi Chuxing has been granted a permit to test self-driving vehicles in California, according to an update on the California Department of Motor Vehicles website. The news was first reported by The Financial Times and CNBC. The company is seeking to catch up with international rivals as it faces stiff competition in […]
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WASHINGTON/BEIJING—U.S. President Donald Trump has pledged to help ZTE “get back into business, fast” after a recent U.S. ban crippled the Chinese telecoms company, offering a job-saving concession to Beijing ahead of high-stakes trade talks this week. Trump made the unexpected announcement via Twitter on May 13. It was a stunning reversal, given Washington’s tough stance in […]
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The latest corruption scandal involving a Chinese Communist Party official has caused a stir on Chinese social media—because of the light sentence he received for the enormous amount of money he had pocketed. Zhao Wanchou, 57, former chief of the Coal Industry Bureau in Jincheng, a city in northern China’s Shanxi Province, was given a […]
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The Czech Republic, which has considerably increased its political and economic cooperation with China since 2014, has been shaken by uncertainty surrounding the Chinese energy giant CEFC China Energy. The large Chinese conglomerate had promised to invest tens of billions in the country. After a press release emerged that the CEO of CEFC, Ye Jianming, […]
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Chinese economists have analyzed China’s trade data and the forecast does not look optimistic. Last week, the Chinese regime announced that it had recorded a current account deficit of $28.2 billion for the first three months of 2018—the first quarterly deficit recorded since 2001. But the Chinese regime was still confident, as it continued to […]
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HONG KONG—ZTE’s main business operations have ceased due to a ban imposed by the U.S. government, but China’s second biggest telecom equipment maker is trying to have the ban modified or reversed, it said on May 9. ZTE was hit by a ban last month from Washington, forbidding U.S. firms from supplying it with tech parts […]
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The former chairman of China’s Anbang Insurance Group has been found guilty of fraud and embezzlement and sentenced to 18 years in prison, three months after the state seized control of the insurance conglomerate famed for buying New York’s Waldorf Astoria hotel. Wu Xiaohui will also surrender 10.5 billion yuan ($1.65 billion), and his bank accounts, properties, […]
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As Chinese companies are increasingly dominating the global pharmaceutical market, an expert says it is high time for U.S. policymakers to start treating medicine as a strategic asset and to ensure the American public has a healthy reserve of essential drugs laid away in case of a crisis. Rosemary Gibson, a senior adviser at the […]
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This year’s U.S.–China trade skirmishes could well be the start of a much more profound schism in the world economy. Beijing has no intention of abandoning its “Made in China 2025” plan—the real target of President Donald Trump’s threats and actions. The comprehensive upgrade of China’s industry and focus on developing advanced technology is the […]
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Due to intense vibrations caused by Beijing’s subway, precision instruments worth 400 million yuan ($63 million) at China’s prestigious Peking University have begun to malfunction. According to a April 25 report in the state-run newspaper China Youth Daily, Peking University has precision instruments—used in many of its research departments—worth a total of 1.1 billion yuan […]
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The Chinese communist regime is taking extra efforts to increase its domestic soybean output this year amid an ongoing trade dispute with the United States. China is the world’s top buyer and consumer of soybeans, with most used to feed livestock. But Beijing announced on April 4 that it would levy a 25 percent tariff […]
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A delegation of U.S. senior trade officials visited Beijing on May 3 and 4, hoping to ease trade tensions and negotiate a fairer trade relationship. Reports about the talks indicated that a deal wasn’t reached, but there were some concessions. China said it would reconsider duties on U.S. sorghum, increase U.S. imports to lower the […]
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China’s state-run media have repeatedly criticized President Donald Trump since he announced trade tariffs on Chinese goods, setting off trade tensions. However, a state-run publication has recently made an about-face and changed its rhetoric completely. The Paper, a state-run newspaper based in Shanghai, ran an editorial on May 1 saying that Trump should receive the […]
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When news emerged that the founder and former chairman of China’s largest privately-held energy company, CEFC China Energy, was being investigated by Chinese authorities, many began to speculate about what crimes had led to his downfall. Newly released evidence from a court case in New York City has revealed some details. Last November, Hong Kong […]
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The proposed U.S. tariffs on Chinese high-tech goods are having a domino effect for multinationals with manufacturing operations in China. South Korean tech conglomerate Samsung has dissolved its factory in the manufacturing hub of Shenzhen City, southern China, owing to the prospect of falling profits when the United States imposes 25 percent tariffs on imported […]
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More evidence has emerged to support the widely held suspicion that China’s most popular messaging app, WeChat, is recording private messages between users, data which is then accessible by the Chinese regime, despite the app’s insistence that it is not spying on the 1 billion people worldwide who use it. In a WeChat public post […]
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U.S.-based memory chip maker Micron Technology is planning to expand its operations and hire 800 more employees in Taiwan by the end of this year. It plans to hire 350 more next year. As Chinese semiconductor firms have been trying to poach engineers from U.S. companies, Micron is hiring more talent in Taiwan to counter […]
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