News that caught our eye / The week ending March 15, 2024
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NOTE: The news reports below are not in chronological order. There is often a time lag in their reaching the US and in gaining our attention. These reports reflect the opinions of a variety of news sources.
China pursues aggressive growth to prevent devastating slowdown / March 9, 2024
Chinese Premier Li Qiang spoke at the National People’s Congress last week, promoting the government’s economic reforms to grow the economy. Many economic experts are still concerned that China may not be able to achieve its 5% growth rate in 2024. The Chinese government, however, expects to get the country out of its economic slump (Fox News)
US Army Soldier Sold Taiwan Response Plans to China: DOJ / March 8, 2024
Army intelligence analyst Korbein Schultz was arrested recently for providing sensitive military information to a China-based co-conspirator. The transfer of information took place between June of 2022 and October of 2023 and included information about what the US learned from Russia’s invasion of Ukraine and how that would direct the US response if China invaded Taiwan (Newsweek).
Philippines strikes security deals as tensions rise with China at sea / March 9, 2024
The Philippines has either signed or is negotiating agreements with at least 18 countries to support its defenses against foreign aggression in the South China Sea. Countries like Japan, Vietnam, Canada, France, Germany, and Italy are on the list. A change in Philippine leadership, however, could turn the Philippines more favorably back toward China again (The Washington Post).
US mulls blacklisting CXMT to curb China's chip advance / March 9. 2024
The US is considering black-listing 6 more Chinese companies in another round of sanctions to prevent China from getting sensitive microconductor knowledge that it could use in its military development. ChangXin is one of the companies on that list (Yahoo Finance).
China's CNOOC makes 100-million-ton oilfield discovery in South China Sea / March 7, 2024
China’s state-owned oil company CNOOC discovered a new oil field in the South China Sea, off the shore of Guandong Province. The discovery is a boon to China’s oil industry as many older wells on the mainland are drying out (Reuters).
Chinese-owned tutoring company found in classrooms across America / March 15, 2024
According to the group, Parents Defending Freedom (PDF), over 100 school districts in the US are giving students access to a site called Tutor.com, which is owned by a Chinese-based company. The content the site delivers may be a concern, but the data it collects on students and their families is also a major concern, according to the PDF group (Fox News).
China's consumer prices swing up on seasonal Lunar New Year gains / March 10, 2024
China’s consumer price index grew by 0.7% in February, the largest growth in six months, prompted by the Lunar New Year celebrations and higher prices in food commodities like pork and vegetables. The positive numbers may be a sign of better things to come, but analysts are cautioning that it is too soon to tell if the economy is starting to recover (Reuters).
Tibet boarding schools: China accused of trying to silence language / March 9, 2024
According to some human rights watchers and sociologists, China is using boarding schools that teach only Mandarin in Tibet to erase Tibetan culture and replace it with Chinese culture. China claims that learning Mandarin is necessary to prepare students for success in the world. Others say that the Mandarin emphasis will create people who can’t fit into either culture (BBC).
‘More dangerous’ than nukes—China, Russia suddenly abandoning the U.S. dollar / March 9, 2024
China, Russia, and other BRICS nations are utilizing “blockchain” technology, such as Bitcoin and Ethereum, as the basis for their transnational trading dollar, threatening the power and dominance of the US dollar in global business transactions. Such digital currencies have exploded in the market recently (Forbes).
The Chinese-Russian war machine could soon overwhelm the West / March 10, 2024
China is maneuvering its global strategies to benefit from Russia’s war in Ukraine financially, militarily, and politically while giving Russia an economic boost of its own in spite of the sanctions of the West that were meant to punish Russia for invading Ukraine in the first place. China’s moves are threatening the current world order (The Telegraph).
China’s congress ends with a show of unity behind Xi’s vision for national greatness / March 11, 2024
China ended its National Congress on Monday, giving more power to President Xi Jinping through revisions to the Organic Law of the State Council that diminish the Council’s power. The absence of the traditional news conference held by the Chinese Premier, Li Qiang, also demonstrates his weaker position (NBC News).