News about China that caught our eye
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.
Nearly half of China's major cities are sinking, researchers say / April 19, 2024
“Subsidence”— the gradual caving in or sinking of an area of land—is occurring under 45% of China’s major cities according to a research study. Underground water depletion, geothermal well production, and the concentrated weight of urban centers are causing the land to sink between 3 and 16 millimeters a year, which will eventually put some cities under sea level (NBC News).
Chinese students in the US tell of ‘chilling’ interrogations and deportations / April 20, 2024
While the US State Department approves hundreds of thousands of student visas from China each year, dozens of Chinese students have been interrogated or denied entry into the US, even though they have valid student visas. The connection: many Chinese universities have partnerships with the Chinese military, so students from such universities may be refused entry into the US (The Guardian).
Germany and Britain detain suspected Chinese spies / April 23, 2024
German and British authorities have arrested three nationals in Germany and two in Britain for providing sensitive products or information to China. Suspicion is rising in the EU over China’s attempts to spy and influence politics in the EU. China blasted Germany and Britain, accusing them of defaming China (Al Jazeera).
Tesla Slashes EV, FSD Prices In Latest Strategy Shift / April 22, 2024
Prices for Tesla cars in the US, China, and Europe have been on a roller-coaster ride recently as the company tries to increase demand and still maintain profits. Over last weekend, the company cut prices again on some of its vehicles and its Self-Driving service. Tesla stock fell 14% last week and another 4% on Monday. Chinese EV manufacturers’ stock also fell (Investor’s Business Daily).
The bubble has burst: On the road to a lost Chinese economic decade / April 22, 2023
In spite of some recent good news on China’s economy, an economic strategist declares that China’s economic bubble has burst and is heading into a “lost economic decade,” such as Japan endured in the 1980s. President Xi’s use of Deng Xiaoping’s 1980s market reforms will not help (The Hill).
Massive floods threaten millions as intense rains batter southern China / April 22, 2024
Record-breaking torrential rains have caused massive flooding in Guangdong province in southern China, killing 4 and displacing more than 110,000 people. Numerous weather stations in the area have set new rainfall records. Guangdong province is heavily populated and is prone to flooding from April through September (CNN).
China is committed to resolving maritime disputes through talks / April 21, 2024
While condemning “gunboat muscles” and aggressive tactics in the South China Sea at the Western Pacific Naval Symposium, a top Chinese military official declared that China is still willing to use diplomatic talks to resolve maritime issues. The Symposium was attended by US, Australian, French, English, Russian, and Indian representatives (Reuters).
China hosts talks between rival Palestinian factions Hamas and Fatah / April 26, 2024
While China is not confirming it, reports indicate that China is hosting talks in Beijing between Palestinian factions Hamas and Fatah to unite the parties and broker a two-state solution with Israel. China is seeking a greater role in the Middle East and has been encouraged by the US to be more involved (SCMP).
China warns US after Senate passes aid bill worth billions to Taiwan / April 24, 2023
After the US Senate approved a funding bill for Israel, Ukraine, and Taiwan, China warned the US to stop arming Taiwan. $8 billion was earmarked for Taiwan in the bill. Taiwan has also signed contracts with the US for fighter jets, tanks, and rockets (The Guardian).
Xi Jinping meets Blinken, urges America to be a partner, not a rival / April 26, 2024
Secretary of State Antony Blinken met with President Xi in Beijing this week as the two countries mark their 45th anniversary of holding diplomatic talks with one another. President Xi called for mutual respect between the nations and working as partners. Blinken brought up concerns about “overcapacity” in trade and China’s financial partnerships with Russia (SCMP).
China launches 3-member crew to its space station / April 25, 2024
China sent a 3-man crew to its space station on Thursday, one of four missions planned for this year to the space station. The new crew will replace the current crew on the station and will stay there for about 6 months. China plans to open its station to foreign astronauts in the future and has ambitions to send crews to the moon and probes to Mars by 2030 (AP News).
China ‘deeply concerned’ after Iran strikes, online posts oppose Israel / April 14, 2024
China’s foreign ministry expressed concern over the escalation of conflict in the Middle East this week, urging all the parties to return to calm. Chinese companies have supplied materials to Iranian military production companies. Meanwhile, Chinese social media posts largely supported Iran, although some supported Israel’s fight against terrorism (VOA).
China’s big move to cut off Australian iron ore / April 14, 2024
By striking a deal with Algeria to invest in a challenging and remote iron ore mine, China is seeking to diversify its resources for iron ore and to “de-risk” from its dependence on Australian ore, where it currently gets most of this raw material. China makes the most steel in the world. Overall Chinese investment in Australia fell by over 33% in 2023 (news.com.au)
China reaffirms ties with North Korea in high-level meeting / April 13, 2024
Zhao Leji, the third highest-ranking member of the CCP, met with Kim Jong-un last Saturday, reaffirming ties between North Korea and China. It was the first meeting between the two countries since the pandemic began and North Korea closed its borders (The Guardian).
China had 'special place' in PM Modi's heart, now, it's a thorn in his side / April 13, 2024
More than a decade ago, Indian Prime Minister Narendra Modi viewed China as a country to emulate and learn from. Since then, China’s bullish, growing influence in South Asia and its military aggression along India’s disputed border with China have soured that perspective. Now, India has to play “catch-up” (The Economic Times).
China’s economy expands by a surprisingly strong pace in 1st quarter / April 16, 2024
China’s GDP grew by 5.3% in the first quarter of 2024, marking a positive start to the new year. Industrial production grew by 6.1% over the same period, boosted by high-tech manufacturing, specifically EV’s, solar panels, and batteries, which are already overflowing into the global market. Domestic spending, high unemployment, and the real estate market are still suffering, however (CNN Business).
US prepared to 'take further steps' as it warns China against enabling Russia / April 17, 2024
A US Secretary of State official declared that the US is prepared to take further actions—most likely in the form of sanctions—against China if it continues to support Russia through the sale of dual-use items that Russia can use in its war against Ukraine. The G-7 met this week in Italy to reaffirm the bloc’s commitment to Ukraine’s fight against Russia (VOA).
Biden wants to triple China tariffs on steel and aluminum imports / April 17, 2024
President Biden is threatening to triple the 7.5% tariff on aluminum and steel products from China in an effort to level the playing field after China subsidized many of the metals’ manufacturers and then plans to flood the market with those lower-cost items. China denies the concept that subsidies would cause the overcapacity of products (CNBC).
Europe wants 2 things from China. It may not get far on either of them / April 18, 2024
EU leaders are hoping to get China to put pressure on Russia to end the war in Ukraine, and they are asking China to not flood the global market—especially the EU market—with its subsidized green-energy products like electric vehicles and solar panels. As much as different EU leaders have requested these important items, it is unlikely China will honor them (ABC News).
China, US defense chiefs hold first substantive talks in 18 months / April 17, 2024
US Secretary of Defense Lloyd Austin met with his Chinese counterpart, Dong Jun via videoconference in an effort to establish a more stable relationship between the two nations and to open the lines of communication between the two military entities. Russia, Ukraine, Taiwan, and the South China Sea were among the topics they discussed (Al Jazeera).
China is funding the U.S. fentanyl crisis, House panel says in new report / April 15, 2024
A US House Panel reported that the Chinese government is using grants, tax rebates, and other incentives to Chinese manufacturers who produce the precursors to synthesize fentanyl and other drugs in the US. So far, neither China nor the US have done much to stop the production and flow of the fentanyl trade. The report offers strategies to attempt to stem the crisis (NBC News).
Chinese archaeologists reconstruct face of 6th century emperor using new technique / April 6, 2024
Using a new DNA technique, Chinese archeologists were able to reconstruct the face of the 6th century emperor Wu, after obtaining enough DNA criteria from his degraded bones. The process also sheds light on what may have killed the young emperor, who only lived to the age of 36. The new technique may assist researchers in helping the Chinese people retrace their ancestral lineage (SCMP).
As China’s economy falters, so does middle-class confidence / April 10, 2024
With 700 million people, China’s middle class is the largest in the world. But as China’s economy still struggles to rebound, that middle class is reluctant to jumpstart a “consumer-driven economy.” Instead, they are saving their money or choosing quality, off-brand products over name brands (NBC News).
China’s young people are giving up on saving for retirement / April 7, 2024
While China’s economy continues to sputter, another economic problem is arising: China’s pension system. In the next decade, 40% of China’s population will be over 60, but many younger workers today are not contributing to China’s pension system, creating another economic challenge. Like the US and other Western countries, China’s pension system is becoming unsustainable (The Business Times).
China's Shimao faces liquidation suit over failure to pay $202 million loan / April 8, 2024
Another Chinese developer, Shimao Group, has received a liquidation petition from China Construction Bank in Hong Kong. Shimao reported that it would fight the lawsuit and move forward with its restructuring plan. While still in trouble, China’s property sector is not as volatile this year as it has been in the past (Reuters).
China's Xi says nobody can stop 'family reunion' with Taiwan / April 10, 2024
President Xi Jinping met with former Taiwan President Ma Ying-jeou this Wednesday, vowing that nothing could stop the Chinese family on the island and on the mainland from being reunited. Ma is the first former Taiwan president to visit Beijing, and this is his second trip to the mainland (Reuters).
The U.S. and Japan announce historic upgrade in security ties to counter China / April 10, 2024
Japanese Prime Minister Fumio Kishida met with President Biden on Wednesday as the two nations announced a stronger alliance for the future. Increased military cooperation, the possible purchase of US Steel Co. by Japan’s Nippon Steel, and even space exploration on the moon were among the topics of conversation (NBC News).
Philippines, U.S., Australia, and Japan hold joint military drills in South China Sea / April 7. 2024
The US, Japan, the Philippines, and Australia conducted joint military exercises in the South China Sea on Sunday in an effort to coordinate their military strategies in the event of a threat to the status quo in the region. China responded by saying it conducted its own drills in the area. Tensions continue to rise, especially between China and the Philippines (The Japan Times).
Russia, China to talk about deeper security co-operation in Eurasia, Lavrov says / April 9, 2024
China and Russia are working to further deepen their strategic partnership in Eurasia as a hedge against what they see as the US’s efforts to impose its will in the region. Since Russia invaded Ukraine and the US imposed sanctions on Russia, Russia and China have benefitted from increased trade and military cooperation (Reuters).
China-Taiwan tension brings troops, missiles, and anxiety to Japan's paradise island / April 10, 2024
As Japan builds up its military defense against what it sees as China’s aggression in the region, it has established a military base on the pristine “paradise” island called Ishigaki, which lies only 150 miles from Taiwan. Local residents protested the military’s plans to build a base there, but rising political tensions in the area have taken precedence (CBS News)
From unfair trade to TikTok: US Treasury Secretary Yellen’s China trip / April 9, 2024
US Treasury Secretary Janet Yellen’s trip to China earlier this week met with mixed success in achieving her goals. “Overcapacity,” or China’s flooding of the global market with subsidized products, money laundering and the fentanyl crisis, TikTok, and financial stability were all discussed, along with her restaurant choices (Al Jazeera).
Biden, China's Xi hold phone call on Taiwan, AI, trade / April 2, 2024
President Biden and President Xi held a phone call on Tuesday, allegedly discussing topics like Taiwan, narcotics, AI and China’s support for Russia during Russia’s war against Ukraine. A Chinese representative stated that the Taiwan issue is the most important matter between the two countries. While Biden has said the US would intervene if China were to invade the island, but has had to walk that commitment back (Fox News).
Biden tells China's Xi to stay out of US elections / April 2, 2024
Among the many topics on Presidents Biden and Xi’s phone call on Tuesday came a warning from President Biden to China to stay out of the upcoming presidential elections in November. Stability across the Taiwan Strait, South China Sea tensions and China’s support for Russia were also on President Biden’s talk list with President Xi (VOA).
China sends warplanes, boats around Taiwan following Presidential phone call / April 3, 2024
China conducted another military exercise around the island of Taiwan with 30 aircraft and 9 warships, the largest exercise so far this year, and just on the heels of the phone call between Presidents Biden and Xi, where Pres. Biden called for stability in the Taiwan Strait. No mention was made if the military exercise had been previously planned and occurred coincidentally after the phone call (Fox News).
Media feel pressure to tell ‘positive’ China story as party tightens grip / April 4, 2024
Sixth Tone, and online Chinese magazine that began in 2016, used to present articles on the current issues of the people of China, even if those stories presented a negative aspect about China. But recently, censors and CCP regulations are pulling even more independent minded media outlets into conformity with Xi Jinping Thought (Al Jazeera).
Starved of Affection at Home, Young Chinese Seek Out ‘Digital Parents’ / March 25, 2024
“Digital Parenting” is a new phenomenon on China’s media sites as children of disciplinarian or disengaged parents are drawn to the caring and consoling messages of parenting influencers, even though the parenting posts are generic and may be posted by imposters. One digital parenting couple has over 1 million followers (Sixth Tone).
Ex-Taiwanese Pres. Ma visits China to help build social, cultural links / April 1, 2024Former Taiwanese Former Taiwanese President Ma Ying-jeou visited China this week in a cultural exchange that included a group of Taiwanese students. President Ma may meet with President Xi in Beijing. Ma represents the political wing of Taiwan that is more “pro-China” than the current President and the President elect Lai Ching-te (AP News).
Taiwan emerges remarkably unscathed after massive earthquake / April 4, 2024
Taiwan experienced a 7.4 magnitude earthquake on Wednesday morning, and although 9 people had died as of Thursday, overall the island did not suffer as much damage or loss of life than it had in the past. After a 1999 earthquake that killed over 2000 people, authorities implemented building codes and retrofitted older buildings with support structures, and it appears to have paid off (NPR).
China should not repeat history with Taiwan’s quake / April 3, 2024
As the world responds to Taiwan’s latest devastating earthquake, one journalist recommends that China Tasimply stay out of the way, and let other nations supply aid to the island. In 1999, when an earthquake also struck Taiwan, China’s involvement in the aid process slowed that aid in getting to the island. Already China has described the earthquake’s epicenter occurring east of “China’s Taiwan” (Bloomberg News).
Taiwan rebukes China following global concern over earthquake: ‘Shameless’ / April 4, 2024
One of China’s UN representatives offered thanks to the global community for its aid to Taiwan following the earthquake, claiming that the aid was really given to China and not to Taiwan. Taiwan called the statement “shameless” (The Hindustan Times).
China's central bank says it will make efforts to expand demand, boost confidence / April 3, 2024
The People’s Bank of China reported a number of measures to boost the economy at its quarterly meeting this week in order to boost domestic demand and increase consumer confidence. While China’s economy reportedly has had a positive first quarter, it still faces significant challenges to a full recovery (Reuters).
India rejects China's renaming of 30 places in Himalayan border state / April 2, 2024
In an attempt to further its claim on disputed territory between China and India, China gave new names to 30 locations in the territory called Arunachal Pradesh by India on Tuesday. In response, India rejected the new names, with the Indian Foreign Minister declaring, “If I give your house a new name, does it become my house?” (Reuters).
China’s March factory activity expands for first time in six months / April 4, 2024
The official purchasing managers’ index (PMI) rose to 50.8in March from 49.1 in February, indicating a positive move in China’s economy that hasn’t been seen in six months. New export orders also rose into positive territory, suggesting that there are signs that the economy is getting a better footing (Hellenic Shipping News).
Country Garden liquidation petition adds to China's property woes / February 27, 2024
Ever Credit Ltd, a subsidiary of Hong Kong-based Kingboard Holdings, filed a liquidation petition against Chinese property developer Country Garden this week. Only last month China’s largest developer, Evergrande Group, was ordered to be liquidated. Country Garden’s liquidation process may further slow China’s economic recovery (Reuters).
China's economy is unraveling at a pace previously thought unimaginable / February 26, 2024
Australia’s government recently announced that it would double the size of its navy in response to rising tensions in the region, specifically China. But China’s economic ties to Australia may be the bigger threat as China’s economy continues to implode. The concern is that domestic troubles often inspire militaristic leaders to cause trouble outside of their borders (ABC News).
China has the biggest diplomatic footprint in the world just ahead of US / February 25, 2024
China now leads the world in the number of embassies or diplomatic representatives in other countries, edging out the US 274 to 271. Australia, however, only has 124, mostly in the South Pacific region. China’s presence is greater in Asia and Africa, while the US emphasis is in the Americas and Europe (ABC News).
Why has the EU sanctioned Indian, and Chinese companies for Russia links? / February 29, 2024
Close to the anniversary of Russia’s attack on Ukraine, the EU has added another 27 entities to its list of sanctioned countries, companies, and individuals. Seven companies—4 from Hong Kong and 3 from China—are of Chinese origin. The sanctioned entities are suspected of selling “dual-use” products to Russia. China condemned the new sanctions, but it is mostly symbolic (Al Jazeera).
China lauds Russia relations and calls for strengthened Asia-Pacific role / February 28, 2024
Chinese Vice Foreign Minister Sun Weidong praised the relationship between China and Russia after a recent trip to Russia, stating that the warm relationship is at a new high. While the relationship may be strong, Russia is a bit concerned about China’s interest in Russia’s sparsely populated, resource-rich eastern territory which is 11 time zones from Moscow (Al Jazeera).
China sees ‘unprecedented’ hurdles in keeping state secrets safe / February 29, 2024
China recently updated a 2010 law on keeping state secrets to bolster national security. The law now also includes information or “work secrets” that are not classified but could be used in a negative way against the CCP. The updates present further challenges for civil workers, foreign companies, and even citizens to avoid trouble if they share too much (Hindustan Times).
Reporting from China: How this trip was different / February 25, 2024
Few Western journalists have gone to China since 2020 when the CCP cracked down on foreign media. A 60 Minutes journalist recently went to China and found that there was less interference by police and secret service personnel. But that was because surveillance is now done via cameras. The government also tried to manipulate the interviews 60 Minutes tried to arrange (60 Minutes).
China could seize the moon. We need to stop them / February 29, 2024
Just as China expanded its territorial claims in the South China Sea, it may also have its sites set on claiming territory on the moon. While the US just recently landed a spacecraft on the moon after a 50-year hiatus, China has done the same three times in the last decade and has at least two more landings planned in the near future. China is eyeing the moon’s southern pole where there may be ice (Fox News).
Images reveal floating barrier at mouth of disputed atoll in South China Sea / February 25, 2024
Satellite images showed a floating barrier blocking the entrance to the Scarborough Shoal in the South China Sea on Feb. 22nd. The barrier was placed there by China to block a Philippine vessel attempting to enter the shoal and was removed after the vessel left. The situation is the latest escalation of tensions between the two countries (Reuters).
Taiwan says 5 Chinese coast guard ships entered waters near front-line islands / February 27, 2024
A Taiwan minister reported that 5 Chinese coast guard ships entered “restricted” waters around Kinmen, an island just off the coast of mainland China that Taiwan claims as its own. China does not recognize any restriction zone, although the ships left the area after Taiwan warned them to leave. Taiwan has a military garrison on the island (NBC News).
China urges largest nuclear states to negotiate a 'no-first-use' treaty / February 27, 2024
Sun Xiaobo, a representative of China’s Foreign Ministry, called on nuclear powers to pledge to a “no-first-use” policy to prevent nuclear war. China and India are the only countries that have signed such an agreement. He also included emerging technologies, including AI and military developments in space to the concept (Reuters).
Scathing details reveal why Biden appears 'silent' on China's role in fentanyl crisis / February 27, 2024
Author Peter Schweizer claims that the Biden family has financial ties to both the CCP and leading drug kingpins in China who fuel the fentanyl drug trade through the Sinaloa drug cartel in Mexico. Additionally, Hunter Biden’s legal counsel, Abbe Lowell, also represented nefarious Chinese operatives. Did the money buy President Biden’s silence (Fox News)?
China cuts key interest rate in the latest move to boost its ailing property sector / February 20, 2024
China’s central bank cut its 5-year prime loan rate by .25 points to 3.95% on Tuesday in an effort to boost the Chinese economy. It left the 1-year rate as is at 3.45%. The last rate cut for the 5-year loan was in May of 2023. China’s markets responded tepidly to the rate cut (AP News).
China reports ‘record’ holiday travel. But consumer spending isn’t roaring back yet / February 19, 2024
While China reported record travel during the Lunar New Year holiday, tourism-related spending was just shy of pre-pandemic figures even though this holiday was the longest in recent years. Cinema ticket sales during the holiday hit record numbers, but that was not enough to turn the market around (CNN Business).
China's first homegrown airliner makes international debut in Singapore / February 18, 2024
The Commercial Aircraft Corporation of China’s new C919 made a fly-over at a Singapore air show on Sunday marking the first time the aircraft has flown outside of China. China plans to increase its current fleet of 4 C919s to a competitive fleet similar to Boeing’s or Airbus’ global market. Demand for new aircraft is high (Reuters).
Firms With Deep Roots in China Reconsider Their Xinjiang Ties / February 18, 2024
Volkswagen and chemical producer giant BASF are two German companies reconsidering their joint venture industries in China due to concerns that their products made in China included forced labor in Xinjiang province. BASF has already begun liquidating its properties in China. China has rejected the allegations (The New York Times).
Ship Crashes into Bridge in China, Killing 5 / February 22, 2024
An unfortunate accident occurred in the southern China city of Guangzhou when a cargo ship struck a supporting beam of a bridge, causing a section of the bridge to collapse. Five vehicles fell, two into the water and three onto the ship, causing 5 deaths. Plans to install anti-collision “measures” began in 2021 but were never initiated (New York Times).
Online dump of Chinese hacking documents offers window into state surveillance / February 21, 2024
A rare online dump of Chinese hacking documents from a company called I-Soon late last week revealed evidence of hacking of government entities and people within China and countries in Southeast Asia. It is not clear who was responsible for the dump, perhaps a rival company or a disgruntled employee (AP News).
From boardrooms to battlefields: Chinese companies are forming military units / February 21, 2024
Concerned about potential social unrest or natural disasters within China and the potential for international war, the Chinese government is encouraging companies to create PAFDs: People’s Armed Forces Departments, that is, military units formed from company employees. Dairy producers, water plants, and a myriad of other companies have formed PAFDs to support the People’s Liberation Army should a crisis occur (The Times of India).
China increases patrols near Taiwan's Kinmen Archipelago after 2 fishermen die / February 18, 2024
Two Chinese fishermen drowned in the Taiwan Strait after their fishing boat was chased by a Taiwan coast guard ship and capsized. Two other fishermen are in Taiwan’s custody. China blamed Taiwan’s Democratic Progressive Party for the deaths of the two fishermen and vowed to take action to patrol the waters off the coast of Xiamen (VOA).
China’s coast guard has triggered ‘panic’ in Taiwan / February 21, 2024
China’s coast guard is now boarding and “inspecting” Taiwanese tourist boats that sail in the Taiwan Strait to challenge Taiwan and its new president over the disputed waters between the two countries. The new ploy made the tourists on one Taiwan boat very anxious, triggering alarm among the people of Taiwan (CNN).
Israel Gaza: China condemns US veto of call for immediate ceasefire at UN / February 21, 2024
The US vetoed an Algerian-sponsored ceasefire in Gaza this week, a move which China, and other UN nations, condemned as a license for the “slaughter” in Gaza to continue. The US has its own proposal for a ceasefire, but it hasn’t been brought up for a vote yet. There is concern the conflict could swell into a wider military conflict in the region (BBC).
China issues highest weather alert as temperatures plunge / February 21, 2024
A cold snap hit areas of China, including Beijing, on Wednesday, blanketing the capital city with a layer of snow. The government issued its most severe warning over the media to warn citizens to take precautions due to the cold and snowy conditions. Others, however, rejoiced over the picturesque scenes and the prosperous omen the snow brought (CAN).
History of Chinese New Year celebrations in China / February 9, 2024
This article provides a quick summary of the history of the Chinese New Year and Spring festivals, which find their beginnings over 4000 years ago, making them among the oldest holidays ever. The festivals developed over time, but themes like honoring ancestors or parents, celebrating successful harvests or wishing for a successful future and incorporating art and decorations became strong and enduring traditions (the Hindustan Times).
China gears up to ring in Year of the Dragon with expected record 9 billion trips / February 9, 2024
A sign of good news in China is the record number of planned trips the Chinese people plan to make during the Lunar New Year this month. Perhaps their celebrations, gift exchanges and family meals will bring a boost to the consumer demand numbers that have been sinking for almost a year in an economy that has other serious issues (CNN).
In the year of the dragon, will China breathe fire into its deflating economy? / February 8,2024
China’s economy continues to shrink with consumer prices sinking, including significant drops in food prices. President Xi appears unwilling to use a stimulus package from the government, perhaps concerned about repeating a negative scenario from the early 2000’s (the Guardian).
China consumer prices plunge at fastest rate for 15 years as deflation fears deepen / February 8, 2024
China’s consumer price index fell by 0.8% in January compared to the same month last year, the largest drop since 2009. China’s economy has been in a deflationary state since last summer. One economist suggested, however, that the resulting numbers from the New Year holiday this month may boost consumer demand. Many hope more government stimulus will spark a rebound in the economy (the Guardian).
China’s $7 trillion crash masks the really bad news / February 9, 2024
Economists say that since 2021, China’s economy has lost $7 trillion in market value, but the worse news is the CCP’s new war against the bad economic news itself. The government is cracking down on any negative news about the economy, both in China and Hong Kong. This puts investors and businesses in a catch-22 if they need to warn others about potential dangers in the economy (Forbes).
China’s well-to-do are under assault from every side / February 11, 2024
When China opened its economy to private investors around 1990, a generation of Chinese people started investing and became known as the “got-rich-first” group. Today, just over 110 million Chinese citizens possess 50% of China’s wealth, but the current economic crisis is decimating their wealth. Trust funds gone bad and other risky investments that fail are called “landmine explosions,” and China’s wealthy are in a minefield. China’s government is not eager to bail them out (Hindustan Times).
China moves closer to Taliban regime amid search for natural resources / February 10, 2024
While not officially recognizing the Taliban, China has been solidifying business deals and trade partnerships with the Taliban and natural resource companies in Afghanistan, declaring that Afghanistan should not be ignored on the world stage. China seems to be unconcerned about human rights abuses by the Taliban against women, and that the Taliban is still a terrorist organization (Fox News).
Why has China recognized Taliban’s envoy to Beijing? / February 14, 2024
While the rest of the world has avoided engaging with the Taliban government in Afghanistan because of its terrorist history and human rights abuses, “realism and opportunity” have compelled China and Afghanistan’s other neighbors to work with the Taliban rather than to avoid them. China also has a long history of working with the Taliban (Al Jazeera).
How Taiwan’s elections challenge the power of China’s Communist Party / February 10, 2024
The CCP has declared that liberal democracy is incompatible with Chinese culture. But Taiwan’s 8 democratic elections, including its most recent one in January, demonstrate that true democratic elections are indeed possible. And that poses a threat to the CCP. Social media posts in China praising the Taiwan election in January were quickly scrubbed by censors (Al Jazeera).
Taiwan reports more Chinese balloons over Taiwan Strait / February 10, 2024
Taiwan’s defense ministry stated that it had detected eight Chinese air balloons crossing over the Taiwan Strait on Saturday, with at least 5 crossing over Taiwan itself. This was the second day in a row that Taiwan detected Chinese balloons in its territory, but China has done this many times before. Taiwan claims the balloons are a type of psychological warfare and are dangerous for air travel (Reuters).
U.S.-China Tensions Have a New Front: A Naval Base in Africa / February 10, 2024
Along with trade deals and naval ports, China is also inviting African countries to allow China to build naval bases for its military, especially along the Atlantic coast. China evidently has approached Gabon and Equatorial Guinea with such an offer, but both countries have assured US officials that they have no agreement with China on this issue (WSJ).
Meet Hong Kong’s ‘Flower Granny’ artist, 92 – the city’s answer to Yayoi Kusama / February 8, 2024
Known as “Fapopo,” or “Flower Granny” in Cantonese, a 92-year-old woman in Hong Kong is gaining notoriety as a novel painter, similar to Japan’s Yayoi Kusama. Fapopo sold flowers for nearly 60 years until she retired at the age of 80. A house project turned her to painting on everyday household items, which have been displayed in some Hong Kong art exhibitions (SCMP).
China, Russia and Iran to hold navy drills aimed at ‘regional security’ / February 6, 2024
While the West recently has responded to Iran-backed Houthi attacks on US bases in the Middle East, China, Russia, and Iran are planning to hold joint naval drills to protect regional security for the second time. The drills will likely occur in March. China has asked Iran to urge the Houthis to pull back their attacks on ships in the Red Sea (SCMP).
Russia and China slam US for Middle East strikes / February 6, 2024
Russia, China, and other nations accused the US of escalating tensions with its attacks against Iranian-backed proxies after those groups attacked US bases, killing three US soldiers. Russia also accused the Biden administration of using the strikes to boost its election campaign (Al Jazeera).
China launches Jielong-3 rocket as commercial missions pick up pace / February 3, 2024
China Rocket Co. launched its Jielong-3 rocket carrying 9 satellites into space on Saturday, demonstrating China’s growing commercial space program, as other Chinese companies—including automakers—have also recently launched satellites to improve autonomous vehicle navigation. In 2023, China was only behind the US in the number of rocket launches (Reuters).
China’s top prosecutors promise financial crime crackdown is about to ramp up / February 5, 2024
To further secure the economic environment in China, a senior prosecutor of the Supreme People’s Procuratorate stated that there will be an increase in crackdowns on financial crimes in the future, echoing Xi Jinping’s declaration that fighting financial crime is China’s “eternal theme” at the central finance work conference in late October (SCMP).
Is China’s economy in serious trouble? / February 4, 2024
Last week’s Hong Kong court declaration that Evergrande would be liquidated marked a significantly bad week for China’s economy as foreign investors also fled the Chinese stock market. Some speculate that 2024 will be a sluggish year that China will have to crawl through, hopefully to a better economic picture if the government’s economic reforms work (Al Jazeera).
In China, Deflation Tightens Its Grip / February 8, 2024
Consumer prices fell again in January at “their steepest pace in more than 14 years” signaling the possibility that deflation is strengthening its grip on the Chinese economy. China’s stock market plunged on Wednesday, prompting the government to replace its top securities regulator. Chinese companies may try to sell their goods at cheaper prices abroad, threatening other markets (WSJ).
Chinese migrants are the fastest-growing group crossing US southern border / February 4, 2024
In 2023, over 37,000 Chinese migrants entered the US illegally through the southern border, fifty times more than two years before. Many have crossed the border with rolling suitcases as if they had just disembarked from an airplane. They say they are coming to find work and freedom (CBS News).
Australian Yang Receives Suspended Death Sentence in China / February 4, 2024
Australian writer Yang Hengjun was sentenced to life in prison after being convicted of espionage if he doesn’t commit any serious crimes in the next two years. Yang had worked for the Chinese government but became an advocate for democracy. He moved to Australia, and began blogging and writing spy novels, but was arrested while visiting China in 2019 (Bloomberg).
US says it blocked China cyber-threat but warns hackers can ‘wreak havoc’ / February 1, 2024
US officials stated that they partially dismantled a Chinese cyber operation called Volt Typhoon that was attempting to disrupt public utilities in the event of a conflict between China and Russia. By disrupting water, electricity, and gas lines, the hackers could create chaos to weaken any US response to foreign aggression (Al Jazeera).
US says it blocked China cyber-threat but warns hackers can ‘wreak havoc’ / February 1, 2024
US officials stated that they partially dismantled a Chinese cyber operation called Volt Typhoon that was attempting to disrupt public utilities in the event of a conflict between China and Russia. By disrupting water, electricity, and gas lines, the hackers could create chaos to weaken any US response to foreign aggression (Al Jazeera).
China-Africa trade increased in 2023 but Africa’s trade deficit widens / February 1, 2024
While China’s trade with Africa grew modestly in 2023, Africa’s trade deficit with China grew significantly from US$46.9 billion to US$64 billion. Part of that, however, may be due to lower prices on raw materials, not necessarily a decrease in the volume of those raw materials. China has promised to balance the trade deficit, but that will take time (SCMP).