News that caught our eye / The week ending October 13, 2023
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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 to double size of space station, touts alternative to NASA-led ISS / October 5, 2023
China’s space station, Tiangong, or Celestial Palace, has been in operation since 2022 with three modules. China plans to double the station to six modules in the next few years. Meanwhile, the US-led International Space Station will be decommissioned due to age in the next 10 years (Reuters).
Evergrande could become a wrecking ball for China’s economy / October 6, 2023
The arrest and detention of Evergrande chairman and founder, Hui Ka Yan, spells more trouble for China’s real estate sector and the economy as a whole. Other leading representatives of the company were also detained. Overinvestment by the company and increased regulations by the government in 2020 helped cause the current crisis (The Guardian).
China touts Belt & Road lending as alternative for international development / October 10, 2023
As China marks the 10-year anniversary of its Belt and Road Initiative, it is touting its successes in helping developing nations enter the lucrative global market with Chinese companies constructing and Chinese banks funding railroads, powerplants and ports. But many of these countries are now facing unsustainable debt (AP News).
China Expels Former Bank of China Chairman From Communist Party / October 7, 2023
Liu Liange, the former chairman of the Bank of China, was ousted from the Communist Party after being accused of taking bribes and corruption. Liu had resigned from his chairmanship last March. Fighting corruption is a hallmark of President Xi’s leadership, but replacing ousted leaders with loyalists is also a characteristic of Xi’s policies (VOA).
Why has China released detained Australian journalist Cheng Lei? / October 11, 2023
Chinese-born Australian journalist Cheng Lei was released from custody in China after three years of incarceration for “endangering national security” against China. It appears her incarceration was more of a political ploy than a matter of law and order. Her release may be China’s way of improving relations with Australia and wooing Australia from Western relationships (Australian Broadcasting Company).
China’s rich are secretly moving cash overseas amid uncertain economy / October 9, 2023
Uncertainty about the health of the Chinese economy is convincing many wealthy Chinese citizens to move their wealth to overseas banks via underground banking systems called “hawala,” which are often tied to criminal organizations. Yet, the demand remains high. One expert said as much as $150 billion may be moved out of China this year (Insider).
US Warns China Cost for Blockading Taiwan to Be 'Very High' / October 5, 2023
Ely Ratner, a Defense Department representative, told an audience in Washington D.C. last week that an attempted Chinese blockade of Taiwan would trigger a global economic crisis and turn much of the world against Beijing and in favor of Taipei. A blockade might force China to consider attacking even foreign commercial ships (VOA).
New strategic rare metal ore unearthed in Inner Mongolia / October 8, 2023
Niobium, a rare metal that is prized in metal manufacturing and battery production, was found in abundance in a mine in inner Mongolia, near the city of Baotou. Batteries made with Niobium could last up to 30 years, charge in only 10 minutes, and are safer to use. The discovery could make China self-sufficient in Nobium production (SCMP).
China calls for ‘calm and restraint’ as Israel declares war after Hamas raid / October 8, 2023
In response to the conflict between Hamas and Israel that began on Saturday, China called for “calm and restraint” between the two parties and their supporters. While China has not taken sides in Middle Eastern conflicts, it called for a two-state solution after Saturday’s incident and generally leans pro-Palestinian (SCMP).
US Senators Make First Congressional Visit to China Since 2019 / October 7, 2023
US Senators, three Democrats and three Republicans, traveled to China last weekend to meet with their counterparts in an attempt to improve relations between the two countries and help pave a path for a meeting between Xi and Biden in November. If the meetings go well, the Senators may meet with President Xi (SCMP).
Schumer meets Xi, welcomes stronger Chinese statement on Hamas attack / October 9, 2023
After China’s neutral statement regarding the Hamas-Israel conflict, Senator Schumer urged China to make a more critical statement about Hamas’ attack on Israel. A stronger statement was made later on Monday by China. Schumer also met with President Xi for more than an hour (AP News).
This looks like the beginning of World War III, China expert warns / October 9, 2023
Gordon Chang speaks on Fox News about China’s support of Iran and its proxy involvement in the Hamas attacks on Israel. China’s aggression toward Taiwan shows that it is preparing for war, and the US is in a very weak position to respond. A global conflict may be on the horizon (YouTube/Fox News).
Tesla's China-made EV sales fall 10.9% year-on-year in September / October 9, 2023
US automaker Tesla sold fewer China-made electric vehicles in September, down almost 11% from September 2022, while its Chinese rival automakers reported a growth in sales of almost 43% over the same period (Reuters).
Driver crashes car into Chinese consulate in San Francisco / October 10, 2023
A man in his mid-thirties who crashed a car into the Chinese Consulate in San Francisco was shot by police and died later in a hospital on Monday. It is unclear what his motivation was for the incident. The US and China are considering a meeting between President Biden and President Xi in San Francisco in November (SCMP).