US lawmakers on Tuesday urged the White House to step up delivery of nearly $19 billion in military sales to Taiwan, citing fears that China will invade the island. VOA’s Congressional Correspondent Katherine Gypson has more from Capitol Hill. Camera: Saqib Ui Islam. Voice of America
Global high interest rates make the cost of borrowing higher with China remaining a prime option for funding to fuel growth in the region, and Hong Kong can play a role in the Belt and Road Initiative, according to a former governor of China’s central bank. Zhou Xiaochuan also called for global efforts to offset geopolitical and economic headwinds in an address in Hong Kong on Wednesday at an investment forum by the China Investment Corporation, the country’s sovereign wealth fund. 03:03 US-China relations depend on strong economic ties, says…
Advertisement There is very little doubt that the Chinese economy is currently in dire straits. Not only have property prices fallen for two years now, but there are also concerns about the economy entering a period of deflation (or persistently falling prices). A deflationary spiral works in the same way as an inflationary one, except in reverse. As prices fall, households cut back on spending in anticipation of prices falling further; firms cut back on hiring and investments in expectation of future reductions in wages and other costs. Such decisions…
While he took an unrelenting stance against Russia’s brutal war and warned against appeasing Moscow, he drew a more measured line on China, repeating his commitment to “push back on aggression and intimidation” by Beijing while seeking ways to work together and denying that he was trying to contain the Asian giant. “We seek to responsibly manage the competition between our countries so it does not tip into conflict,” he said. Mr. Biden mentioned a litany of other major issues confronting the world today, like fentanyl abuse, artificial intelligence, terrorism,…
China has given foreign consulates in Hong Kong a month to submit the names, home addresses and job descriptions of their local staff, according to diplomatic sources and documents seen by several media outlets on Tuesday. The documents include a letter in English and Chinese bearing Monday’s date from Beijing’s Office of the Commissioner of the Ministry of Foreign Affairs (OCMFA), as well as two forms for consulates to fill in with their local staff details. The letter gave consulates until 18 October to “return the completed forms to the…
For an indication of how India has become a new hunting ground for international investment banks, look no further than Jefferies. The US financial group previously had a minor presence in the world’s most populous country and was better known for its research notes than dealmaking prowess. But today it is building on a run of transactions — including deals involving the Adani group — to poach senior bankers away from rivals and bulk up its office. “In the past three years we’ve supplemented the core investment banking capabilities alongside…
China’s top memory chip maker Yangtze Memory Technologies Corp (YMTC) is forging closer ties with domestic tool suppliers in an urgent bid to replace US components in its manufacturing equipment, according to two people familiar with the matter. The Wuhan-based company has recently intensified discussions and cooperation with Chinese semiconductor equipment makers, including a major Beijing-based company, to develop and produce replacements for crucial parts widely used in its equipment made by US firm Lam Research, according to the sources, who declined to be identified because of the sensitivity of…
Receive free Indian politics & policy updates We’ll send you a myFT Daily Digest email rounding up the latest Indian politics & policy news every morning. Justin Trudeau, Canada’s prime minister, denied trying to provoke Narendra Modi’s government with claims that Indian agents may be linked to the killing of a Sikh leader, as he urged New Delhi to take what he has described as “credible allegations” seriously. “We are not looking to provoke or escalate, we are simply laying out the facts as we understand them, and we want…
Receive free Markets Insight updates We’ll send you a myFT Daily Digest email rounding up the latest Markets Insight news every morning. The writer is chief economist at UBS Global Wealth Management Deflation, for an economist, is a little bit more sophisticated than “a falling price”. Individual prices go up and down all the time, indicating changes in supply and demand for a single product. Deflation is a more broad-based fall in many prices. A general decline in prices is a signal that there is an imbalance in an economy,…
The number of Chinese manufacturers waiting to inquire about moving their factories to Vietnam was like no other at a just-concluded annual expo of Southeast Asian businesses. Nguyen Thi Nga, a sales executive for Vietnam’s Deep C Industrial Zones, still had more than a dozen potential Chinese clients waiting for her to take questions after an hour-long business-networking session attended by more than 300 people on Sunday. “There has really been a lot more interest from Chinese businesses since last year,” Nguyen said in fluent Mandarin at the four-day China-Association…