News that caught our eye / The week ending October 18, 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.
Trump vs. Harris: Who does China want? / October 13, 2024
Reporters discuss the economy and politics between the US and China, acknowledging that both the Biden and Trump administrations recognized the threat of Chinese imports, especially electric vehicles, and imposed sanctions to prevent China from “dumping” products into the US economy. One reporter stated China views both US parties as “two bowls of poison” (BBC World Service).
Pandas from China arrive in Washington, D.C. / October 15, 2024
Two pandas from China arrived in Washington, D.C., on Tuesday, ending an 11-month absence of pandas from the National Zoo. The two giant pandas, Bao Li and Qing Bao, will have a month to settle into their new surroundings before going on display (CBS News).
China’s Deflation Problem Worsens on Weak Consumer Prices / October 12, 2024
Aside from a spike in prices for fresh vegetables in September, the month’s economic data in China showed continued weak consumer demand. The consumer price index rose only by 0.1%. Producer inflation fell 2.8% year over year. The Chinese government cut interest rates and provided support for the property sector with the hope of the economy gradually recovering (Yahoo Finance).
Nobel Prize-winning research pushes Chinese economists to call for institutional reforms / October 16, 2024
After American economists won the Nobel prize this year for their research advocating that “inclusive” governments support better economic success of a nation rather than “extractive” ones, Chinese economists also agreed that China’s government should be more “inclusive.” Two of the American economists wrote in 2012 that China’s combination of economic growth and political control cannot be sustainable (SCMP).
China’s plan to boost flagging growth is the very definition of economic insanity / October 13, 2024
China’s recent “bazooka” economic stimulus is the fourth attempt in the last 16 years to revitalize its struggling economy even though the same strategy has not worked in the past. According to Charles Magnus, China’s recovery demands political changes that are anathema to its Leninist government (The Guardian).
A Japanese boy was killed in China. Was cyber-nationalism to blame? / October 13, 2024
The tragic death of a Japanese school student in China has sparked a debate over a rising cyber-nationalism occurring in China that is spilling over into reality. Online nationalists are called “Little Pinks” as they harp on online comments that are deemed critical of communist ideology. The phenomenon is called a “Cultural Revolution 2.0,” connecting the current nationalist patriotism to the violent purges in the 1960s and 70s (BBC).
China launches war games around Taiwan, drawing sharp criticism from Taipei / October 13, 2024
On Monday, China began a new round of military exercises around Taiwan with a record 153 military aircraft as part of the drills. The drills apparently came in response to Taiwan President Lai’s speech on the October 10th national holiday, although some state that such drills take longer than a few days to plan (ABC News-Australia).
China won't renounce use of force over Taiwan; Xi visits frontline island / October 16, 2024
A spokesperson for China's Taiwan Affairs Office declared that China will never renounce using force to take control of Taiwan as China carried out more military drills around the island and President Xi visited a Chinese-controlled island close to Taiwan and where the Taiwan military lost a battle against the CCP in 1953 (Reuters).
China’s premier inaugurates a Beijing-funded airport at the start of a Pakistan trip / October 14, 2024
On Monday, China’s Premier Li Qiang gave his blessing to a new Chinese-funded airport in the turbulent Pakistani province of Balochistan, just a week after two Chinese nationals were killed by a terrorist bombing. The airport, along with a 2000-mile highway from China to the Arabian Sea in Pakistan, are developments intended to connect China to the area’s resources. Balochistan separatists claim China is exploiting the region (AP News).