The Port of Los Angeles is watching events closely in China as container ships stack up outside Chinese ports affected by new COVID-19 outbreaks and manufacturing shutdowns. After a year of cargo bottlenecks at the port, Executive Director Gene Seroka laid out his “wait and watch” strategy for what many industry experts say could upend…
Port of LA Adopts ‘Wait and See’ Strategy for Future Cargo Surges
March 17, 2022
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backlogcargoCCP VirusChinaChina Business & EconomyLocal NewsPort of Los AngelesRegional NewsRegional-Local NewsSouthern CaliforniaUS
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Companies Should Decouple From Communist China Before Its Planned Invasion of Taiwan: Sen. Rick Scott
Senator Rick Scott (R-Fla.) on March 17 sent an open letter to business leaders praising them for ceasing their operations in Russia in response to its invasion of Ukraine, and urging them to replicate this strategy in the context of China before the latter power invades Taiwan. With the massive sanctions placed on Russia, businesses…
Companies Should Decouple From Communist China Before It Invades Taiwan: Sen. Rick Scott
Senator Rick Scott (R-Fla.) on March 17 sent an open letter to business leaders praising them for ceasing their operations in Russia in response to its invasion of Ukraine, and urging them to replicate this strategy in the context of China before the latter power invades Taiwan. With the massive sanctions placed on Russia, businesses…
Could China Use Ukraine War to Challenge US Dollar Hegemony?
March 17, 2022
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Business & EconomyBusiness ColumnistsChinaChina Business & EconomycurrencyDollarOpinionrenminbiThinking About ChinaUkraine waryuan
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Commentary Russia’s war in Ukraine, and the West’s response so far, has been a gift to China. The West’s strict sanctions on Russia have isolated the country from much of the world. It needs a financial lifeline. The war in Ukraine, and the West’s sanctions against Russia, is providing a unique opportunity for China to…
Tesla Halts Work at Shanghai Factory for 2 Days Amid China COVID-19 Curbs: Notice
March 17, 2022
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Asia & PacificBusiness & EconomyCCP VirusChinaChina Business & EconomyCompaniesCOVID-19economyfactoryhaltsINSIDE CHINAInternationalPUBLIC HEALTH INFORMATIONShanghaiSpecial TopicsteslaworkWorld
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SHANGHAI—Tesla is suspending production at its Shanghai factory for two days, according to a notice sent internally and to suppliers, as the Chinese regime tightens COVID-19 restrictions to curb the country’s latest outbreak. The Shanghai factory runs around the clock, and suppliers and Tesla staff were told on Wednesday in the notice, reviewed by Reuters,…
Nepal’s Decision to Ratify US Grant Should Be Respected by All Sides, Including China: Government Official
March 17, 2022
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Asia & PacificChinaChina Business & EconomyInternational RelationsMillennium Challenge CorporationNepalWorld
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Nepal’s decision to ratify a $500 million American grant should be respected by all sides, a government official said Sunday, following China’s opposition to the project and pressure from political parties not to ratify the grant. The Millennium Challenge Corporation (MCC), a U.S. government aid agency, made an agreement with Nepal’s government in 2017 to…
Beijing Rushes to Revive Market After Chinese Stocks Crash
March 16, 2022
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyChinese RegimeChinese stockseconomic policiesmarketMarketsstocksUS-China relationsWorld
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Top Beijing regulators rushed to salvage market confidence as investors began panic selling Chinese stocks for days in a row, pushing major indexes to their lowest levels in years. Hong Kong’s Hang Seng Tech Index lost roughly 22 percent since Friday, stocks in Shanghai and Shenzhen also saw a daily drop of 5 and 4…
World’s Largest Nickel Producer Faces Billions in Losses; China Releases National Reserves to Rescue
March 16, 2022
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Business & EconomyChinaChina Business & Economycommoditiesfutures marketHK BusinessHong KongHong Kong Stock ExchangeLMELondon Metal ExchangeLondon Metal Exchange (LME)MarketsNickelnickel miningTsingshan HoldingUKWorld
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The world’s biggest nickel and stainless steel producer, Tsingshan Holding Group, suffered a fiasco in a global capital sniping on the London Metal Exchange (LME) on March 7, with its 200,000-ton nickel forward contracts caught in a delivery default and facing potential losses of billions on its short positions. However, a dramatic reversal occurred, attributed…
Xi Jinping Tightens Grip on Economy, Moves China Toward Maoism
News Analysis After the death of Mao Zedong, Deng Xiaoping liberalized the Chinese economy, fostering China’s transformation from one of the poorest countries in the world to the number two economy. The Chinese Communist Party’s (CCP) 2022 Work Report suggests that Deng is being erased, as Xi Jinping drives the country back to the authoritarian…
US Bans All Imports of Chinese Sports Brand Li-Ning Over Use of North Korean Labor
March 16, 2022
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CBPChinaChina Business & EconomyChina Human Rightsforced laborNorth KoreaPolicies & ImpactsUSUS-China relations
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U.S. Customs and Border Protection (CBP) has banned all goods made by a leading Chinese sports brand citing its use of North Korean labor, amounting to a breach of U.S. sanctions. Founded by former Olympic gymnast Li Ning, Li-Ning Sporting Goods is a dominant sportswear and sports equipment company in China. Yet after probing its…
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