Global leaders have congratulated Lai Ching-te for winning Taiwan’s presidential election, praising the high turnout and democratic process – drawing ire from Beijing, which had hoped to see Taiwan’s ruling party ousted. Lai won an unprecedented third term in power for the pro-sovereignty Democratic Progressive party (DPP) in Saturday’s election, with more than 40% of the vote. Lai is taking over from the DPP’s Tsai Ing-wen, who has been president since 2016, promising to continue her foreign policy efforts in resisting China’s plans to annex Taiwan. The US, the UK,…
Tag: UK news
Reports PM privately thinks Rwanda plan won’t work are why costs must be published, Yvette Cooper says – UK politics live
From 30m ago Yvette Cooper says reports saying Sunak privately thinks Rwanda plan won’t work show why full costs must be published In the Commons MPs have just voted on the Labour motion criticising the government’s record on dentistry. It was defeated. Yvette Cooper, the shadow home secretary, is opening the next debate on the “humble address” motion that, if passed, would oblige the government to publish confidential documents about the cost of the Rwanda programme. The text of the motion is here. Cooper says it is particularly important for…
The global economy is poised for another tumultuous year in 2024 | Kenneth Rogoff
The global economy was full of surprises in 2023. Despite the sharp rise in interest rates, the US successfully avoided a recession, and major emerging markets did not spiral into a debt crisis. Even Japan’s geriatric economy exhibited stunning vitality. By contrast, the EU fell behind, as its German growth engine sputtered after China’s four-decade era of hypergrowth abruptly ended. Looking ahead to 2024, several questions loom large. What will happen to long-term inflation-adjusted interest rates? Can China avoid a more dramatic slowdown, given the turmoil in its real estate…
Deforestation effect of UK consumption unsustainable, say MPs
UK consumption is having an “unsustainable” impact on the world, and contributing particularly highly to deforestation, a report by MPs has found. Products such as soya, cocoa, palm oil, beef and leather may be products of deforestation, and the environmental audit committee has found that the UK’s deforestation footprint per tonne of product consumed is higher than that of other countries including China, calling it “unsustainable”. A deforestation footprint is similar to a carbon footprint. It signifies how much deforestation occurs per tonne of product consumed. Scientists have worked out…
China’s many systemic problems dominate its outlook for 2024 | George Magnus
There were contrasting reactions when the US rating agency Moody’s downgraded China’s A1 credit rating outlook from stable to negative last month. Financial markets, focused on the economy, paid it barely any attention. Chinese state media, looking at the politics, saw red. Global Times called it “biased and unprofessional”. A few days later, the Ministry of State Security issued a statement stipulating that the only purpose of “negative talk” was to doubt or deny China’s socialist system, and to contain its development. The Chinese Communist party’s prickly attitude to criticism…
British private schools in China under threat as new ‘patriotic’ law comes in
A new “patriotic” education law is set to put a squeeze on British schools in China as Beijing steps up its efforts to tighten control of what is taught in its classrooms. Less than five years ago, the Chinese and British media were full of reports about the “boom years” of British education in China. Elite British schools had seized the commercial opportunity of opening campuses to cater to wealthy Chinese families and the children of expats, and were opening new branches at a rapid clip. But after the Covid…
‘I already miss Hong Kong’: Democracy activist Tony Chung on fleeing to the UK
One of the youngest people to be jailed under Hong Kong’s national security law has fled to the UK, where he claimed asylum in the early hours of Thursday morning. Tony Chung, 22, was released from prison in June but was required to meet regularly with Hong Kong’s national security police and abide by certain conditions, which included not leaving the territory without authorisation before June 2024. In December, he got permission from the Hong Kong’s correctional services department to take a short holiday to Okinawa, Japan, for Christmas, on…
At least 20% of NHS suppliers at ‘high risk’ of modern slavery use, review says
Over a fifth of NHS suppliers providing items including surgical instruments, gloves, gowns and face masks are at “high risk” of using modern slavery, according to a government review. Nearly half of all NHS suppliers of gowns and uniforms are based in China, which also provides the bulk of all masks. The finding is included in a review of 1,361 suppliers to the NHS, conducted by the Department of Health and Social Care, following a government commitment to eradicate modern slavery from the healthcare system. The review highlighted specific areas…
AstraZeneca buys Chinese cancer therapy firm Gracell for $1.2bn
AstraZeneca has struck a deal to buy a Chinese cancer therapy company for up to $1.2bn (£950m), as Britain’s biggest drugmaker expands its footprint in its second-largest market. The Anglo-Swedish pharmaceutical firm announced on Tuesday it would acquire Gracell Biotechnologies, which is focused on a type of cancer therapy known as CAR-T that modifies a patient’s cells to fight the disease. The deal marks a further investment in cancer research and treatment, which accounts for about one-third of AstraZeneca’s business, as well as its continued push to expand in China.…
Harrods opens private members’ club in Shanghai costing £16,500 a year
Harrods has opened a private members’ club in Shanghai that offers 250 super-rich people exclusive access to Gordon Ramsay’s first restaurant in China, a bar stocked with rare Scotch whiskies, and the Knightsbridge department store’s own-brand private jets. The retailer opened the private club, which charges minimum annual fees of 150,000 yuan (£16,500), as part of its drive to connect more with wealthy Chinese people as spending by its traditional customer base stagnates. The club, called the Residence, is located inside Shanghai’s historic Cha House where Harrods already operates a…