Day: August 7, 2023

Millions of small business owners are struggling to keep their firms afloat due to an absence of sustainable income growth prospects, among them a Shenzhen-based housewares exporter surnamed Luo. “I’m pulling out my own savings to run my company now, and with it I can still pay for the employee salaries,” Luo said. Advertisement “But I panic a lot, when will there be an end? Will it be a bottomless pit?” China, though, is not alone, with all of Asia’s major exporting powerhouses suffering from a slump in trade in…

The US military’s heightened response to a Russian-Chinese flotilla near Alaska was meant to send a message of force, according to a Chinese military analyst. “What we see now is a flexing of muscle … as the Ukraine war continues,” former People’s Liberation Army instructor Song Zhongping said. “The US wants to underscore that it is the real leading power in the North Atlantic by stepping up its response to the joint patrol by the Chinese and Russian navies.” According to US senators Lisa Murkowski and Dan Sullivan, four US…

A poker game called Guandan, which literally means “throwing eggs”, is becoming hot in China, gaining popularity among those who play it as a way to relax and socialise. Few can explain how and why the game, played by four players in two teams using two decks of cards, has risen in just a decade from a mere regional pastime in coastal Jiangsu province to a nationwide hobby. In any case, as new tournaments mushroom across the country, Guandan is on its way to becoming a truly national game. One…

US President Joe Biden on Monday signed into law a bill that approves the first agreement negotiated under the US-Taiwan Initiative on 21st Century Trade and commits the administration to consult Congress for future agreements under the initiative. The agreement, signed on June 1, covers streamlining customs procedures, combating corruption and helping small businesses navigate regulatory procedures in both markets. It broadly aims to strengthen the US-Taiwan trade and economic relationship, but does not include any market-access provisions. It is the first of several agreements expected under the 21st Century…

“And this is the scary thing with regard to the Chinese view towards cutting off communications with the US military – not having hot lines.” After then-House Speaker Nancy Pelosi visited Taiwan a year ago, Beijing cut off three main military communication channels with Washington. When US Secretary of State Antony Blinken visited Beijing in June, he proposed restoring those channels, but Xi rejected the offer. On Monday, Studeman said that Beijing could be requiring the US to improve its attitude and show respect, but also working from the belief…