News that caught our eye / The week ending August 9, 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.
Curated by James Getka.
Zheng Qinwen wins China’s first Olympic tennis singles gold / August 5, 2024
Chinese tennis player Zheng Qinwen won gold in Paris this week, supported by a crowd of fans shouting “Jia You” which is similar to the English phrase, “Hit the gas!” or “Punch it!” She is the first to win a gold medal for China in singles tennis, but her ultimate goal goes beyond the Olympics: to win a Grand Slam Singles Title (AP News).
China ends US Olympic reign over men's 4x100 medley relay / August 5, 2024
After a 64-year run for the United States’ men’s 4x100 medley relay, China’s men’s team captured gold just.55 seconds before the US team. Chinese teammate Pan Zhanle celebrated his 20th birthday with the gold win. France took the bronze medal (CNA).
Taiwan cheers Olympics badminton triumph over China in politically charged contest / August 4, 2024
Taiwan won its first gold medals against China in a tense badminton showdown on Sunday as Wang Chi-Lin and Lee Yang played against China’s Liang Weikeng and Wang Chang. Wang and Lee had also one gold at the 2021 Tokyo Olympics. Taiwanese fans in Paris were not allowed to bear their Taiwanese flag, nor could they refer to their home as Taiwan due to “political messaging” (Reuters).
Taiwan is readying citizens for a Chinese invasion. It’s not going well / August 3, 2024
Taiwan is struggling to be ready to respond to an attack by China if President Xi makes good on his promise to reclaim the island nation by force. A lack of materials and dedicated instructors are hampering the military’s attempts at training soldiers for an invasion. Taiwan’s President Lai Ching-te also faces the propaganda of the China-friendly opposition party, the Kuomintang, and Taiwanese reservists are not showing up for mandated “refresher” courses to maintain military readiness (The Washington Times).
China stands by Maduro in Venezuela to safeguard its investments / August 3, 2024
While many Venezuelans and democratic countries have condemned the presidential election results in favor of Nicolas Maduro, China has fully endorsed Maduro, an important geo-political partner for China and its ambitions in South America. But China may also be concerned about its investments in Venezuela, including loans that make up almost half of China’s investments in the entire continent and the Caribbean (VOA).
Oil sits at eight-month low on weak US jobs, China data / August 3, 2024
Lower economic data from the US and China’s struggling economy brought oil prices down recently, while the troubled Middle East conflict between Israel and Lebanon supported oil prices, making for a volatile environment in the crude market. Demand for oil is down in China and India, and concerns about a recession in the US also lowered demand prospects (Mint).
China asks large state financial institutions to drop auditor PwC / August 5, 2024
For the past several months, Chinese regulators have been advising China’s largest financial institutions to drop PricewaterhouseCoopers (PwC) as their auditor. PwC had been a market leader in accounting, contracting with 110 companies, including Evergrande. That unfortunate connection is the reason for the Ministry of Finance to urge the institutions to end their relationship with PwC (Reuters).
China’s stuttering economy darkens global corporate growth outlook / August 8, 2024
International companies are feeling the frosty chill of China’s cold economic recovery that has dragged on after the pandemic was declared over almost two years ago. China’s government has tried to stimulate consumer demand, but the response has been tepid, unfortunately. Forecasts suggest that it may take still longer before we see any improvement (Hellenic Shipping News).
US expected to propose barring Chinese software in autonomous vehicles / August 4, 2024
Citing concerns about national security risks, the Biden Administration plans to propose barring Chinese software used in autonomous and “connected” vehicles from the US. Manufacturers would have to verify that none of their vehicle software came from a "foreign entity of concern," such as China (VOA).
China will launch first satellites of constellation to rival Starlink / August 6, 2024
China’s state-owned company, Shanghai Spacecom Satellite Technology (SSST), plans to launch thousands of satellites into orbit around the globe by 2030 in an effort to rival SpaceX’s Starlink “constellation” of satellites already operating in space. China sees Starlink as a security threat and plans to launch three separate satellite “constellations” (Reuters).
Cambodia breaks ground on a China-funded canal: “it will be built ‘no matter the cost’” / August 5, 2024
China is partnering with Cambodia to build a 111 mile-long canal that will connect its capital, Phnom Penh, to the sea, but the new canal could divert precious water from the Mekong River, threatening Vietnam’s rice industry and millions of people dependent on that water. Others have raised other environmental concerns the canal could cause (AP News).
‘A pen for many office workers’: China warns citizens of security risks from AI tools / August 5, 2024
In its effort to protect state secrets and enhance national security, China’s anti-spy agency warned Chinese citizens to avoid using AI writing tools when dealing with sensitive information, since the AI companies could access sensitive information from the back end, and foreign adversaries could extract it from the cloud by planting viruses. Unfortunately, AI tools save time and effort, making them a tempting option (CNA).
China, ISI behind escalation of student-led protests in Bangladesh / August 6, 2024
Bangladesh’s Prime Minister Sheikh Hasina resigned and fled the country after facing violent opposition from protests led by the student wing Islami Chhatra Shibir (ICS). Pakistan’s external intelligence agency and China are suspected to be supporting the protests to establish an anti-India, Taliban-like government in Bangladesh that would favor China and Pakistan. Previously, Hasina had been developing ties with India (Deccan Herald).
Chinese internet users praise Bangladesh protesters, military / August 6, 2024
Bangladesh’s Prime Minister Sheikh Hasina has resigned and fled the country after facing violent protests from student groups, causing China to lose a close ally. Bangladesh joined China’s Belt and Road Initiative in 2016 and held joint military exercises for the first time in May. Chinese social media generally praised the protestors’ efforts against Hasina’s government (VOA).
Hasina’s exit sets back India-Bangladesh ties, China could gain / August 8, 2024
It appears that Bangladesh’s Prime Minister Sheikh Hasina had built stronger relations with both India and China during her 15-year reign. Now, it remains to be seen which way a new government will lean. Both China and India will try to build ties with opposition parties within the country (VOA).
US, Australia, Canada, Philippines stage maneuvers in disputed South China Sea / August 7, 2024
The US, Australia, Canada and the Philippines held air and naval exercises on Wednesday in the South China Sea to “promote the rule of law” in the contested region. China held its own military exercises near the Scarborough Shoal in response to the joint exercises. The Philippines military reported that three Chinese ships “tailed” some of the 4-nation maneuvers (AP News).