News that caught our eye / The week ending October 4, 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.
Chinese scientists reverse type 1 diabetes with cell transplant / September 30, 2024
Chinese scientists have found a way to use stem cell derived islet cells to bring insulin and sugar levels to a balanced state in a 25-year-old patient. A minimally invasive half-hour surgery placed the cells in the patient’s abdomen. Seventy five days later, she no longer needed insulin injections (Business Standard).
China stocks surge in biggest single-day rally since 2008 on stimulus cheer / September 30, 2024
China’s stock market rebounded euphorically on Monday as investors responded positively to the government’s recent stimulus package, setting new increases in various indexes that haven’t been seen for more than 15 years. Monday’s resurgence followed increases that began last week Tuesday (Reuters).
China AI Chip Leader Soars 20% Limit as Beijing Warns on Nvidia / September 29, 2024
Beijing has been urging China’s domestic technology companies to cease purchasing AI chip materials from foreign companies like Invidia in favor of domestic chip makers, both to support China’s economy and to encourage self-sufficiency by supporting the development of domestic research and production. Chinese chip makers' stocks soared on Monday, while Invidia’s fell 2% (Yahoo Finance).
Xi Jinping is worried about the economy - what do Chinese people think? / October 1, 2024
Surveys conducted since the early 2000’s reveal a recent, growing dismay among Chinese people over the economy and their quality of life. The government’s response to the pandemic and its massive lockdowns have severely affected the psyche of many Chinese people. An increase in protests—online and on the street—also demonstrate some people’s pessimism (BBC News).
Xi Jinping forecasts ‘rough seas’ on 75th anniversary of People’s Republic of China / October 1, 2024
President Xi celebrated the 75th anniversary of China’s Communist Party rule in the country this week, but both his speech and the smaller schedule of celebratory events reflect the tenuous nature of the Chinese economy, global politics, and the national sentiment of its people (The Guardian).
”No Chinese company may disobey an order” by the CCP / September 29, 2024
Lawyer, author and commentator Gordon Chang warned that Chinese electric vehicles may collect information about the driver that the CCP could also access if it wanted to. Chinese law, according to Chang, mandates complete compliance of any Chinese company. EV Direct CEO David Smitherman defended China’s EV automakers, saying any data collected in Australian bought cars was stored locally (news.com.au).
China says US missile deployment in Philippines undermines peace / September 28, 2024
Chinese Foreign Minister Wang Yi warned that the US deployment of an intermediate missiles system in the Philippines—the first in the region—was an attempt to undermine peace and stability in the South Pacific. He also advised the US against creating “war or chaos” on the Korean peninsula (Reuters).
China warns against 'expansion' of Ukraine war / September 28, 2024
China 's Foreign Minister Wang Yi also warned of any escalation in the war in Ukraine and called for a cease-fire in Israel’s conflict with Lebanon. Wang reiterated that China stands ready to negotiate between Ukraine and Russia, and that China sees the two-state solution as the only option for peace between Israel and the Palestinian state (VOA).
Switzerland praises China-Brazil peace plan for Ukraine / September 28, 2024
In response to the latest efforts by China and Brazil to broker a peace deal for the war between Russia and Ukraine, a Swiss foreign ministry representative stated that Switzerland is interested in the proposed deal. Ukraine expressed dismay over Switzerland’s support for the Sino-Brazilian plan (Reuters).