BEIJING—China and Russia have grown increasingly close in recent years, including as trading partners, a relationship that brings both opportunities and risks as Russia reels from tough new sanctions led by the West in response to its invasion of Ukraine. Total trade between China and Russia jumped 35.9 percent last year to a record $146.9…
Intel and Tesla Struggle to Balance Ethics and Profit in China
March 2, 2022
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Business & EconomyBusiness ColumnistsChinaChina Business & EconomyIntelOpinionteslaThinking About ChinaUS-China relationsXinjiang
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News Analysis Many multinational companies in China are in a dilemma. They find it almost impossible to maintain moral and ethical norms while appeasing Beijing in order to make money in China. Intel and Tesla are two prominent examples. Despite kowtowing to Beijing, Intel and Tesla have been recently suppressed by the Chinese Communist Party…
China Says It Won’t Join Sanctions on Russia, Trade Will Go on as Normal
March 2, 2022
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Business & EconomyChinaChina Business & Economyeconomic policiesEuropeEurope-China RelationsInternationalInternational RelationsRussiaRussia-Ukraine WarsanctionstradeUkraineWorld
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Beijing is not partaking in Western sanctions against Russia and opposes such unilateral measures, the country’s banking regulator said on March 2. “As far as financial sanctions are concerned, we don’t approve of them, particularly those launched unilaterally, because they won’t have good effects and don’t have much legal basis,” said Guo Shuqing, chairman of…
Biden Administration Says It’s Realigning Its China Trade Policy, But Offers Few Details
The United States Trade Representative (USTR) said on March 1 that Washington is realigning its trade approach towards China, adding it is considering all existing tools, and potentially new ones, to combat Beijing’s harmful trade practices. But it offered little new information about how this would be achieved. In its new 2022 Trade Policy Agenda and…
China Has the World’s Largest Robotics Market but Lacks Core Technologies
For nearly a decade, China has been the world’s largest producer and consumer of industrial robots. However, it has “no pricing power” in the market, experts say, due to foreign companies owning the core technologies. According to China’s Ministry of Industry and Information Technology, it has been the world’s largest consumer of industrial robots for…
Beijing’s Energy Policies Benefit Chinese Industry, While US Sacrifices Its Own Energy Interests: Expert
March 1, 2022
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CCPChinaChina Business & EconomyChinese RegimeClimate PoliciesCompaniesSpecial TopicsUnited StatesUS-China relations
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The Chinese regime has received widespread praise for its purported ability to make progress on climate change issues, but it actually pursues energy policies that benefit itself without regard for the environment. Meanwhile, the United States has failed to adopt energy policies that serve its best interests. That’s according to Marc Morano, executive director of…
China is Mired in a Debt Crisis Fueled by Borrowing at Local Government Levels
Financial reporting organizations in China are tracking a mounting debt crisis that stems from excessive borrowing by local governments, often used to pay existing debts. This matter has not been monitored by China’s central government because local governments are not required to report monies raised through local government financing vehicles (LGFV). China’s Ministry of Finance…
Russia-Ukraine War to Cost China Money
News Analysis Ukraine was forced to suspend commercial shipping at its ports on Feb. 24 as Russian missiles rained down across the country. As a major exporter of corn and wheat, Ukraine’s situation has stoked unease in the global grain market and will likely see countries like China need to spend more to secure supplies…
Chinese Companies Struggling with Their Shady Reverse-Merger Business
On Jan. 14, 2022, the French fashion company SMCP Group held a general meeting of shareholders and voted to dissolve the five-member board of directors, kicking Qiu Yafu, chairman of the board of directors of China’s Shandong Ruyi Technology Group Co., and his daughter Qiu Chenran, off the board, and shattering Qiu Yafu’s dream of…
US Needs Economic Policies That Benefit America, Not China: Rep. Donalds
In the face of growing competition from China and other geopolitical rivals, the United States needs to pursue policies that benefit American industries and consumers, and that do not drive the further offshoring of businesses vital to economic health, according to Rep. Byron Donalds (R-Fla.). From this point of view, one of the most urgent…
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