Day: May 3, 2023

Congress Clashes With Biden Over Tariffs on Illegal Chinese Solar Panels

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The Senate voted on Wednesday to reinstate tariffs on solar panels from Chinese companies in Southeast Asia that had been found to be coming into the United States in violation of trade rules. The measure, which passed by a vote of 56 to 41, had already been approved by the House. It sets up a showdown with the Biden administration, which had temporarily halted the tariffs to try to ensure that the country had an adequate supply of solar panels in the fight against climate change. President Biden has said…

US Senate Democrats Launch Renewed Effort to Counter China

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washington —  U.S. Senate Democrats launched a renewed effort to stave off competition from China on Wednesday, planning legislation to boost the country’s ability to face up to the Asian powerhouse on issues from technology to security and threats to Taiwan. After passing a sweeping bill last year to boost competition with Beijing in semiconductors and other technology, Senate Democratic leader Chuck Schumer and Democratic committee leaders said they would write legislation they hoped to introduce in the next several months to limit the flow of technology to China, deter…

Why China Is Investing in Africa’s Green Energy Future

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Johannesburg —  A wind farm in Namibia and a floating solar farm on Zimbabwe’s massive Kariba Dam are among the new green energy projects Chinese companies are looking at investing in this year after Beijing pledged to help African countries address their energy problems with renewable sources rather than fossil fuels. “Chinese overseas renewable energy investments aim to deliver China’s international climate commitments of accelerating the energy transition away from fossil fuels in Africa, China’s largest trading partner,” Lei Bian, a policy fellow at the The London School of Economics…

Chinese airlines will be allowed to expand their flights to the US

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Chinese airlines will be allowed to expand their flights to the US, in a small concession from Washington to Beijing that comes as the two countries struggle to stabilize their turbulent relationship. The Department of Transportation on Wednesday issued an order allowing Chinese carriers to boost their weekly round-trip flights from eight to 12, matching the number of flights to China that US carriers have. The department told the Financial Times it would “continue to assess how and when to further modify its posture towards PRC [People’s Republic of China]…

China tells companies to increase checks on auditors

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BAE Systems: Cressida Hogg is due to succeed Sir Roger Carr as BAE Systems chair at the conclusion of the company’s AGM. Economic data: S&P Global services PMI data is released for the eurozone, France, Germany, Italy, Spain and the UK, while the European Central Bank’s Governing Council is due to make a May rate announcement. Earnings: Anheuser-Busch InBev, ArcelorMittal, Bertelsmann, BMW, Ferrari, Jones Lang LaSalle, Moncler, Novo Nordisk, Shell, Skanska, Swiss Re, Veolia and Volkswagen are to release Q1 figures, while Hiscox and Next will deliver first-quarter trading statements…

Rights group says Xinjiang phone search program targets Uyghurs

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Police in Xinjiang have relied on a list of 50,000 multimedia files determined to be “violent and terrorist” to flag Uyghur and other Turkic Muslim residents for interrogation, according to a report from Human Rights Watch released on Wednesday. Among the findings by the New York-based group was that Uyghurs could trigger a police interrogation just by storing the Quran on their phone. Human Rights Watch said in a statement that the use of the list is another example of China’s “abusive use of surveillance technology in Xinjiang.” The list…

Foreign brands, consumers in China face rising tide of nationalism, but it’s not just about pride

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It was a familiar furore to Yu, who ended up taking her Mini off the streets of Hangzhou, the capital of eastern China’s Zhejiang province, last month. At the same time, negative attitudes of China appear to have increased or remained high in places such as North America, Europe, Japan, South Korea and Australia Hillevi Parup From Italian luxury brand Dolce & Gabbana, which landed itself in hot water for racist advertisements in 2018, to Swedish fast fashion retailer H&M, which was lambasted in 2021 for shunning cotton from the…

Multinationals add China-Taiwan risk clauses to contracts as tensions rise

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Multinational corporations are inserting clauses related to China-Taiwan tensions into commercial contracts as fears rise of possible Chinese action around the democratically ruled island. Specific provisions covering a possible conflict in the Taiwan Strait — as well as business disruptions caused by tensions over Taiwan more broadly — have been included in agreements in recent months, lawyers have told Nikkei Asia. Companies were increasingly concerned that in the event of a takeover of the island by force, the US government could impose sanctions on assets in Taiwan if it deems…

Blinken Hopeful to Visit China This Year

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State Department —  U.S. Secretary of State Antony Blinken says he is hopeful that he can reschedule a visit to China this year after postponing a planned trip to Beijing in February because of a Chinese spy balloon downed by the U.S. military. Blinken’s remarks reflect what experts see as signs of a thaw in the U.S.-China relationship, including a recent high-level meeting in Beijing between American and Chinese officials, as well as the U.S. Food and Drug Administration’s plan to resume inspections in China as soon as this summer.…

Biden’s ‘end of regime’ warning spurs fiery response from North Korea

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When U.S. President Joe Biden declared last week that any use of nuclear weapons against the United States or its allies will result in the “end” of the North Korean regime, the sister of supreme leader Kim Jong Un dismissed the remarks as the ramblings of an “old man with no future.” Biden’s comments came after a summit with South Korean President Yoon Suk Yeol on April 26 during which the two leaders signed a “Washington Declaration” that committed to strengthening mutual defense agreements amid continued North Korean missile tests.…