Day: May 29, 2023

3 Chinese Men Play at French Open; Country’s 1st Male Entrants in Paris Since 1937

Media Library

Paris —  For the first time since 1937, a Chinese man competed in the main draw of the French Open — and, actually, a total of three did, all playing opening-round matches on Monday. The first of the groundbreaking group in action on the red clay of the Grand Slam tournament at Roland Garros was Shang Juncheng, who made it into the field via qualifying and faced Juan Pablo Varillas of Peru on Court 5. With some Chinese flags waving in the stands and chants of support from spectators, Shang…

IAEA Team in Japan for Final Review Before Planned Discharge of Fukushima Nuclear Plant Water

Media Library

Tokyo —  An International Atomic Energy Agency team arrived in Tokyo on Monday for a final review before Japan begins releasing massive amounts of treated radioactive water into the sea from the wrecked Fukushima nuclear plant, a plan that has been strongly opposed by local fishing communities and neighboring countries. The team, which includes experts from 11 countries, will meet with officials from the government and the plant operator, Tokyo Electric Power Company Holdings, and visit the Fukushima Daiichi nuclear power plant during their five-day visit, the economy and industry…

The billionaire whose electrode empire powers China’s EV dominance

Media Library

A self-made Chinese billionaire with a fascination for metallurgy is posing a fundamental challenge to a traditional auto industry already struggling to compete with China in the development of electric vehicles and batteries. Bai Houshan, the 59-year-old founder and chair of Shanghai-listed Ronbay Technology, dominates a key part of the global market for cathode electrodes, which are core building blocks in EV batteries and account for 30 to 50 per cent of component costs. With battery chemistries and components constantly evolving in the search for lower material costs and higher…

Bai Houshan deepens China’s EV dominance with his electrode empire

Media Library

A self-made Chinese billionaire with a fascination for metallurgy is posing a fundamental challenge to a traditional auto industry already struggling to compete with China in the development of electric vehicles and batteries. Bai Houshan, the 59-year-old founder and chair of Shanghai-listed Ronbay Technology, dominates a key part of the global market for cathode electrodes, which are core building blocks in EV batteries and account for 30 to 50 per cent of component costs. With battery chemistries and components constantly evolving in the search for lower material costs and higher…

China’s three ‘grey rhinos’ – demographic crisis, debt and decoupling – are growing, threatening economic growth

Media Library

But the argument is false because a rapidly ageing population is not a dividend. In fact, the demographic shift has already started to erode China’s growth momentum, and the problem will only get worse in the foreseeable future. The second grey rhino – China’s debts, in particular local government debts – has been in view for years, and authorities have been trying to de-leverage for a long time. Although China has successfully avoided a debt crisis so far, room to muddle through this issue is shrinking fast. Advertisement It is…

China turns down US invitation for defence chiefs meeting in Singapore

Media Library

Beijing has declined the Pentagon’s request for a meeting between US defence secretary Lloyd Austin and China’s defence minister Li Shangfu at a security forum in Singapore in June, the latest sign of the difficulties the countries are having trying to stabilise their turbulent relationship. The overture had been made for a meeting to take place at the Shangri-La Dialogue, an Asia security event hosted annually by the International Institute for Strategic Studies. “The People’s Republic of China informed the US that they have declined our early May invitation,” the…

Chinese companies still keen on US but face higher hurdles

Media Library

When Pin Ni arrived in Washington, he mentioned to his taxi driver how cold it felt. The driver told him that it wasn’t the temperature, but the wind that made it feel so chilly. Ni, president of Wanxiang America and vice chair of the China General Chamber of Commerce (CGCC) USA, drew a parallel between the blustery weather in the US capital and worsening Washington-Beijing relations. “That’s interesting for our business. The temperature is still there, the business logic is still there, and the business opportunities are still there,” Ni…

Hong Kong Media Tycoon Jimmy Lai Loses Bid to Terminate National Security Trial

Media Library

hong kong —  A Hong Kong court on Monday rejected an application to terminate a landmark national security trial against media tycoon Jimmy Lai, a case that could see him spend the rest of his life in prison if convicted. Lai, 75, is the founder of now shut pro-democracy newspaper Apple Daily and one of the most prominent Hong Kong critics of China’s Communist Party leadership, including President Xi Jinping. Lai and his three of his companies, Apple Daily Limited, Apple Daily Printing Limited and AD Internet Limited, faced a…

Thai Police Seize 1.2 Tons of Crystal Meth Bound for Australia

Media Library

BANGKOK —  Law enforcement officials in Thailand said Monday they seized more than a ton of crystal methamphetamine in a southern province last week that they believed was bound for Australia. Officials from police and the Narcotics Control Board announced that the 1.2 metric tons (2,646 pounds) of the drug, also known as “ice,” likely came from Thailand’s northern border region, which is part of the Golden Triangle where the borders of Myanmar, Laos and Thailand meet. Myanmar is a major producer of methamphetamine, which over the past decade has…

China says US must ‘correct its mistaken actions’ before top defence chiefs can meet

Media Library

The US should also “take concrete actions to create necessary conditions for conversation between both sides”, Mao added in response to a question on whether the refusal was due to the US sanctions. Analysts had expected that Li would refuse a meeting with his US counterpart as long as he remained sanctioned by Washington. Advertisement The rejection comes as high-level bilateral talks in recent weeks appeared to have gained momentum. Those talks included Chinese Commerce Minister Wang Wentao’s meetings last week with US trade representative Katherine Tai and Commerce Secretary…