Category: China Business & Economy

US and China Sign Audit Deal to Prevent Delisting of Chinese Companies

August 26, 2022
CCPChinaChina Business & EconomyChinese RegimeeconomyInternational RelationsMarketsPolicies & ImpactsUSUS NewsUS-China relations
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The U.S. audit regulator signed an agreement with its Chinese counterparts on Aug. 26, building toward an arrangement in which U.S. officials will be able to inspect the records of accounting firms in China and Hong Kong. The Chinese Communist Party (CCP) has been resistant to attempts by U.S. regulators to gain access to audit…

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China’s US Debt Holdings Drop to 12-Year-Low, Further Reductions May Follow

August 26, 2022
ChinaChina Business & EconomyChinese bondsChinese Yuanexchange rateinterest ratesmonetary policyU.S. Treasuriesyuan
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China’s holdings of U.S. debt dropped to the lowest since 2010 after falling below the $1 trillion mark in May, according to data released by the U.S. Treasury on Aug. 15. After seven months of continuous decreases, China’s U.S. Treasury holdings dropped to $967.8 billion in June, $113 billion less than last November, according to…

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Biden Signs Executive Order; Creates Steering Council to Administer $280 Billion CHIPS Act

August 25, 2022
bidenChinaChina Business & EconomyCHIPS ActExecutive BranchInternational RelationsPolicies & ImpactsPoliticssemiconductorsUSUS NewsUS-China relations
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President Joe Biden signed an executive order on Aug. 25 to direct the implementation of the $280 billion CHIPS Act, designed to boost domestic manufacturing and research related to semiconductors. The order will start the flow of cash to companies like Intel, which will now begin to build fabrication sites in the United States. “The…

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China’s Economy Is Destined to Collapse

August 25, 2022
Business & MarketsBusiness ColumnistsChinaChina Business & Economydebteconomyenergyfinancial crisisinflationOpinionrecessionShadow BankingViewpoints
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Commentary I have been detailing the problems in the world economy in several of my previous posts. Now, it’s time to explain where it all began and why the situation in the global economy is so precarious. It all starts with China. As I mentioned before, in late 2016 I was baffled. The world had…

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Authorities Freeze Bank Accounts in Several Chinese Cities

August 25, 2022
bankscapital outflowChinaChina Business & EconomyChinese RegimeHong Kongyuan
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News Analysis Many banking customers in China’s Shenzhen city took to social media earlier this month, claiming they couldn’t withdraw cash or transfer money because their accounts were frozen. Chinese media reported that banks collaborated with authorities to freeze bank accounts. Moreover, a financial expert believes Beijing’s real intention is to prevent capital outflow. According to…

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Hundreds of Taiwanese Citizens Held Captive in Cambodia by Telecom Scam Human Traffickers

August 25, 2022
Asia & PacificBelt and Road Initiative (BRI)CambodiaCasinosChinaChina Business & EconomyChina Human RightsgamblingGlobal ExpansionHong KongHuman Traffickinginternet fraudSihanoukvilleSpecial TopicsTaiwanWorld
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News Analysis Hundreds of Taiwanese citizens are being held captive in Cambodia and forced to work in telecom scam networks run by human trafficking organizations, according to Taiwan authorities. Furthermore, the rise in crime in Sihanoukville, a coastal city in Cambodia, has reportedly been linked to China’s Belt and Road Initiative. Human Trafficking Taiwan’s National…

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Biden’s Push for Electric Vehicles Will Benefit China: House Republicans

August 25, 2022
Andy BiggsBusiness & MarketsCATLChinaChina Business & EconomyChinese Communist Partyeconomic policieseconomyExecutive BranchJames ComerPoliticsRepublicansSpecial TopicsTech CompetitionUSUS News
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The Chinese Communist Party will likely become the beneficiary of President Joe Biden’s push to fill U.S. streets with electric vehicles, according to 16 Republicans on the House Oversight Committee. The lawmakers, led by the committee’s ranking member Rep. James Comer (R-Ky.) and Rep. Andy Biggs (R-Ariz.), sounded the warning in a letter (pdf) to…

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Don’t Leverage Chinese Interference Fears Just to Sell Real Estate: Australian PM

August 24, 2022
anthony albaneseAsia & PacificAustraliaBusiness & MarketsChinaChina Business & EconomyChina-Australia RelationsCompaniesGlobal Real EstateInternationalInternational RelationsPapua New Guineareal estateWorld
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Australian Prime Minister Anthony Albanese has said taxpayers cannot buy every plot of land in the Pacific that may be subject to Chinese interference while warning against encouraging real estate promoters to leverage geopolitical tensions in the region. The prime minister’s response comes after retired Australian businessman Ian Gowrie-Smith appeared on Nine Entertainment’s A Current…

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China Censors ‘Minions’ Ending; Expert Says Hollywood Under Pressure to ‘Kowtow’ to CCP

August 24, 2022
CCPChinaChina Business & EconomyChinese RegimeChris FentonEntertainmentEntertainment NewsHollywoodInternational RelationsMinionsSocial IssuesUSUS NewsUS-China relationsXi
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China’s vast censorship efforts are under scrutiny again, after it was revealed on social media that the Chinese version of the new children’s film “Minions: The Rise of Gru” featured an altered ending that supported the communist regime’s policies. While the global version of the film ends with two anti-heroes riding into the sunset after…

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China’s Economy Is on the Ropes

August 24, 2022
ChinaChina Business & Economyeconomylockdown
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News Analysis Standard Chartered, Goldman Sachs, and Nomura have all cut their China GDP growth outlooks as the Chinese economy continues to suffer under the “zero-COVID” policy, a falling real estate market, a debt crisis, and a tech sector in decline. A drought in southwest China has reduced hydroelectric output, forcing factories in Sichuan and Chongqing…

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