News that caught our eye / The week ending on July 29
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.
News that caught our eye / The week ending on July 29
Biden and Xi talk for over two hours / July 28, 2022
President Biden and Chinese President Xi Jinping spoke by phone for 2 hours and 17 minutes on July 28, their first conversation in roughly four months. The call was part of the administration's efforts "to maintain and deepen lines of communication" between the U.S. and the People's Republic of China (PRC) and to "responsibly manage our differences and work together where our interests align," according to a White House statement.
Japan’s defense document points to Chinese threat / July 22, 2022
Japan’s Defense Minister warned on July 22 in a white paper titled, The Defense of Japan 2022, that China poses a growing military threat to Japan. He states, “China continues to unilaterally change or attempt to change the status quo by coercion in the East China Sea and South China Sea … [and] has made clear that it would not hesitate to unify Taiwan by force.”
US Navy secretary warns Asian aggressors will face Western might / July 27, 2022
Any Asian aggressor who violates the sovereignty of other countries in the region risks punitive counteractions, similar to what Russia is confronting for its invasion of Ukraine. That was the warning from the U.S. secretary of the Navy, Carlos Del Toro, in a veiled threat to China's increasingly assertive behavior in the disputed South China Sea.
China Targeted Fed to Build Informant Network and Access Data / July 26, 2022
China tried to build a network of informants inside the US Federal Reserve system. The investigation by Republican staff members of the Senate’s Committee on Homeland Security and Governmental Affairs found that over a decade Fed employees were offered contracts with Chinese talent recruitment programs. Inducements often included cash payments. Employees were asked to provide information on the U.S. economy, interest rate changes, and policies
China's population to see negative growth by 2025 / July 25, 2022
China’s dwindling population will touch negative growth by 2025 and may continue to shrink for more than a century, according to China’s National Health Commission. Chinese demographers predicted that negative population growth will be the dominant trend in the coming years for a long time and improving the overall quality of the population and changing economic development plans are vital to address the problem.
A huge Chinese rocket booster is about to fall to Earth / July 25, 2022
The Chinese rocket booster that launched another section of China's space station into orbit will fall back to Earth on its own. Similar uncontrolled falls occurred in 2020 and 2021. Jonathan McDowell, an experienced tracker of these events at the Harvard-Smithsonian Center for Astrophysics, said, "The inert ... core stage remains in orbit and was not actively deorbited. [Americans] do a rather better job of upper stage disposal, and China on average a worse one."
A Chinese banking official is under investigation in $6 billion scandal / July 24, 2022
An official once responsible for overseeing the banks at the center of one of China’s biggest financial scandals has been placed under investigation two weeks after rare protests broke out in the central province of Henan. Li Huanting, a senior inspector at its Henan branch, was responsible for supervising the market access of village and other small and medium rural banks in Henan between 2012 and 2014. He was later promoted to become deputy head of the watchdog’s Henan office.
Biden considers lifting some tariffs on Chinese goods / July 24, 2022
As President Biden considers whether to lift tariffs on some Chinese goods, he is listening to two opposing voices. On one side, an analysis by the Peterson Institute for International Economics claims that lifting tariffs on some Chinese-made products would save households hundreds of dollars. On the other side is the potential for losing the support of unions.
Gen. Milley says China dangerous to US / July 24, 2022
The Chinese military has become significantly more aggressive and dangerous over the past five years. That is the assessment of U.S. Gen. Mark Milley, chairman of the Joint Chiefs of Staff. “The message is the Chinese military, in the air and at sea, have become significantly more and noticeably more aggressive in this particular region.”
Chinese conflict with Taiwan is not inevitable / July 22, 2022
According to Richard Moore, chief of the Secret Intelligence Service known as MI6, military conflict with China over Taiwan is “not inevitable.” What is required is a clear message from the West to Xi Jinping about the dire consequences of a “misjudged invasion.”
Pentagon opposes Pelosi's planned Taiwan visit due to Chinese warning / July 22, 2002
Global Times, a Chinese news source, claims that, after China warned of "strong and resolute measures" over US House Speaker Nancy Pelosi's planned Taiwan trip, US President Joe Biden hinted that the Pentagon opposed Pelosi's trip. Chinese observers believe that the Biden administration has clearly received China's message about a possible diplomatic and military response should Pelosi visit Taiwan. “[This] could be something the US is not able to afford.”
Chinese homeowners are refusing to pay their mortgages / July 21, 2022
Tens of thousands of protests from angry homeowners who are withholding their mortgage payments on unfinished homes in protest at delays by the real estate developers.
Arms race: US successfully tests a hypersonic weapon / July 18, 2022
The United States has successfully tested a Raytheon Technologies Corp air-breathing hypersonic weapon capable of speeds faster than five times the speed of sound. "Advancing our nation's hypersonic capabilities is a critical national imperative," Wes Kremer, president of Raytheon's Missiles & Defense business unit, said. The weapon will spur Russia and China toward more fully developing their own hypersonic weapons.