Page 7 - Us China Trade War

US-China tech rivalry keeps South Korean chipmakers in costly limbo

While China is still by far South Korea's biggest trading partner, monthly exports to the US surpassed those to China for the first time in more than two decades

China buys near-record $40 bn of chip making gear to beat US curbs

Even before those curbs came into effect, Dutch company ASML Holding NV had canceled shipments of some of its top-of-the-line machines to China at the request of the US government

How Taiwan's election fits into the island's past, and its future

Voters chose as their next president Lai Ching-te, the current vice president, who has vowed to continue his party's policy of protecting the island's sovereignty

China's exports rise, but deflation persists as economy enters 2024

Analysts also anticipate that interest rates will drop at least 1.5 percentage points in the United States and Europe this year, which should improve demand for imported goods

China seen using threats, money and pressure to influence Taiwan elections

Using military threats, diplomatic pressure, fake news and financial inducements for politicians, China is being accused of deploying a broad strategy to influence voters in Taiwan's elections to pick candidates who favor unification. China's ultimate goal is to take control of the self-governing island democracy, whose high-tech economy supplies key components for computers, cellphones and other electronic devices and ships much of the world's goods out from the Taiwan Strait. Beijing has long insisted Taiwan is part of China and must be regained, by military force if necessary, regardless of the views of the island's people. Taiwanese Foreign Minister Joseph Wu says China's global objective is that they want to use Taiwan as a test ground. If they are able to successfully shape the results of the Taiwan elections, they will try to apply their tactics on other countries. China has been sending warships and fighter jets near Taiwan on a near-daily basis in recent years, hoping to ..

How does a Taiwan election work? Everything you need to know about it

Taiwan's three main parties contesting the election are the ruling Democratic Progressive Party (DPP), the Kuomintang (KMT) and the Taiwan People's Party (TPP), only set up in 2019

Taiwan says Chinese balloons are harassment and a threat to air safety

Taiwan's Defence Ministry accused China on Saturday of harassment and trying to affect public morale by repeatedly sending balloons over the self-governing island. A ministry analysis found that the paths of the balloons posed a serious threat to international passenger flights, according to a report by Taiwan's official Military News Agency. The ministry called for an immediate end to the activity to ensure flight safety. The ministry urged the people (of Taiwan) to clearly understand the Chinese Communist Party's cognitive combat methods and face it rationally and calmly so as to avoid being affected by it, the report said. The purpose of the balloons is unclear, and a Chinese state media outlet has accused Taiwan's ruling Democratic Progressive Party and Taiwanese and American media of hyping what it says are harmless weather balloons. The balloon incidents come ahead of a January 13 presidential election in Taiwan in which the island's relations with China are a major ...

US companies picky about investing in China, but keen on burgers, lattes

There's been no shortage of tough news for China's economy as some of the world's biggest brands consider or take action to shift manufacturing to friendlier shores at a time of unease about security controls, protectionism and wobbly relations between Beijing and Washington. Count Adidas, Apple and Samsung among those looking elsewhere. But as a tumultuous 2023 for the Chinese economy comes to a close, there has been at least one bright spot for Beijing when it comes to foreign investment: American fast-food chains have decided a market of 1.4 billion people is simply too delicious to pass up. KFC China's parent company opened its 10,000th restaurant in China last month and aims to have stores within reach of half of China's population by 2026. McDonald's is planning to open 3,500 new stores in China over the next four years. And Starbucks invested $220 million in a manufacturing and distribution facility in eastern China, its biggest project outside the U.S. This is surely not wh

China turns up heat on trade with rare earth tech export restrictions

The US is spearheading a drive to reduce China's stranglehold over flows of these minerals, from rare earths to lithium and cobalt.

US Congress bars Pentagon from utilising Chinese port logistics platform

The US Congress has approved a measure prohibiting the Pentagon from using any seaport worldwide reliant on the Chinese logistics platform LOGINK, the Voice of America (VOA) reported

Janet Yellen to visit China again in 2024, to focus on 'difficult' topics

Yellen emphasized the importance of using her exchanges with China to gather information about the world's second-largest economy

House panel urges tougher rules for China, raising chance of more tariffs

A special House committee focused on China is calling for altering the way the US treats Chinese-made goods, possibly subjecting them to higher tariffs even if its risks increased tensions between the two economic superpowers. The report does not specifically call for repealing China's preferential trade status, but it does recommend placing China in a new trading category that some liken to a de facto repeal. The committee's chairman said he envisions a process where Congress would determine regularly which economic sectors would be subject to higher tariffs and which would see lower tariffs. Lawmakers in both parties endorsed the proposal, a reflection of the growing willingness in Congress to build on the tariffs enacted during Donald Trump's presidency, even if it risks retaliatory actions from China that would harm many farmers, ranchers and US exporters. The committee crafted the recommendation after several months of deliberation and hearings. Members hope that the nearly 150

Joe Biden, Xi Jinping have far to go if they want to lift cold war clouds

After four hours of talks on Wednesday, the US and Chinese presidents offered a glimpse of just how hard it's going to be to manage their relationship away from that course.

APEC summit: China courts Indo-Pacific leaders amid stiff US competition

Chinese President Xi Jinping, fresh off his meeting with President Joe Biden, courted Indo-Pacific leaders in a flurry of meetings on Thursday at a time of intensifying competition with the United States. Xi held individual talks with the leaders of Mexico, Peru, and Fiji, and he planned a later session with Japanese Prime Minister Fumio Kishida, all on the sidelines of a summit of Asia Pacific Economic Cooperation economies. In a meeting with Peruvian President Dina Boluarte, Xi said the two countries should strengthen economic and trade cooperation and pledged China's support for Peru as host of next year's summit of APEC leaders. In particular, Xi said, China will be willing to import more premium agricultural products from the South American country and will encourage Chinese businesses to participate in major projects in Peru. Earlier, Xi held talks with Andres Manuel Lopez Obrador, praising the Mexican president for his leadership and reform efforts and pledging to bring the

US moves to limit access to advanced chips hurt supply chains: China

China vigorously protested Wednesday the US Commerce Department's latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them. The revisions to the US rules were announced Tuesday, roughly a year after the export controls were first launched to counter the use of the chips for military applications that include the development of hypersonic missiles and artificial intelligence. China's Commerce Ministry said the controls were improper and urged that Washington lift them as soon as possible. It said that since the semiconductor industry is highly globalised, the restrictions on chips used for artificial intelligence and other advanced applications were hindering normal trade and economic activities. They violate international trade rules and seriously threaten the stability of industrial supply chains, it said according to a transcript of a briefing on the ministry's website. US semiconductor companies have suffered huge lo

China challenging US superpower status is 'not inevitable': Xi Jinping

Chinese President Xi Jinping on Monday told a delegation of influential American senators that the Thucydides Trap is not inevitable as he played down the concerns in Washington that China is out to challenge the superpower status of the US. Thucydides Trap is a term to describe an emerging power threatening to displace the existing great power. Competition and confrontation are not consistent with the trend of the times. Still less can it fix one's own problems and address the challenges facing the world, Xi told a US Senate delegation headed by Senate Majority Leader Chuck Schumer during a meeting. China maintains that the common interests of the two countries far outweigh their differences, and the respective success of China and the US is an opportunity, rather than a challenge, to each other, Xi told the six-member delegation of top American legislators. "The Thucydides Trap is not inevitable, and Planet Earth is vast enough to accommodate the respective development and common

US approves new $500 mn arms sale to Taiwan as tension from China surges

The Biden administration has approved a $500 million arms sale to Taiwan as it ramps up military assistance to the island despite fervent objections from China. The State Department said Wednesday it had signed off on the sale of infrared search tracking systems along with related equipment for advanced F-16 fighter jets. The sale includes the infrared systems as well as test support and equipment, computer software and spare parts, it said. Although the deal is modest in comparison to previous weapons sales, the move is likely to draw fierce criticism from Beijing, which regards self-governing Taiwan as a renegade province and refuses to rule out the use of force to reunify it with the mainland. This proposed sale serves U.S. national, economic, and security interests by supporting the recipient's continuing efforts to modernize its armed forces and to maintain a credible defensive capability, the State Department said in a statement. "The proposed sale will improve the recipient'

Russia, China look to gain upper hand at BRICS summit in South Africa

Russia and China will look to gain more political and economic ground in the developing world at a summit in South Africa this week, when an expected joint dose of anti-West grumbling from them may take on a sharper edge with a formal move to bring Saudi Arabia closer. Leaders from the BRICS economic bloc of Brazil, Russia, India, China and South Africa will hold three days of meetings in Johannesburg's financial district of Sandton, with Chinese premier Xi Jinping's attendance underlining the diplomatic capital his country has invested in the bloc over the last decade-and-a-bit as an avenue for its ambitions. Russian President Vladimir Putin will appear on a video link after his travel to South Africa was complicated by an International Criminal Court arrest warrant against him over the war in Ukraine. Brazilian President Luiz Incio Lula da Silva, Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa will be at the summit alongside Xi. The main summit on

US, Japan, S Korea denounce 'dangerous and aggressive actions' by China

The three nations expressed commitment to expanding cooperation trilaterally and raising shared ambition to a new horizon across domains and across the Indo-Pacific and beyond

China's investment firm misses payments amid concerns of financial crisis

The scale of payments missed exceeded 110 million yuan ($15 million), according to their statements