Tag: China Business & Economy

IN-DEPTH: Squeezed By East–West Tension, Sequoia Capital Splits

July 2, 2023
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“America’s pre-eminent investment firm is employing a member of the Chinese government.” That comment, made by tech executive Brian Costello on Steve Bannon’s “War Room” podcast on June 27, reflects the ongoing attention surrounding the recent Sequoia Capital split, following scrutiny of the firm’s ties to the Chinese Communist Party (CCP). The venture-capital giant announced…

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Wall Street Investment Banks Face Bleak Prospects in China

July 2, 2023
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Recent data from Dealogic shows that wall street investment banks face bleak prospects in the Chinese market. Lucia Dunn, an economics professor at Ohio State University, says that the Chinese Communist Party (CCP) will never deal with them in a Western-standard fairway. After lobbying the Trump administration to sign a trade war ceasefire agreement with…

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ANALYSIS: China’s Economy Stuck in Deeper Crisis Due to More State Interventions

July 1, 2023
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News Analysis The devaluation of China’s currency, the yuan, has plummeted to its lowest point this year due to failed government interventions amid the economic depression. More money issued by the Communist Party’s financial institutions will be used as a government hedge against the collapse of the banking and financial system, shifting the country’s debt…

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China’s Factory, Service Sectors Stumble as Economic Malaise Broadens

June 30, 2023
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BEIJING—China’s factory activity declined for a third straight month in June and weakness in other sectors deepened, official surveys showed on Friday, adding pressure for authorities to do more to shore up growth as demand falters at home and abroad. Services sector activity for June also recorded its weakest reading since the Chinese regime abandoned…

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South Korea Alerts Citizens Ahead of Beijing’s New Anti-Espionage Law

June 30, 2023
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Tensions are mounting as South Korea braces for the enactment of the new “Anti-Espionage Law” that the Chinese Communist Party (CCP) is poised to implement on July 1. In response to the perceived threat, South Korea has taken preventative measures, including widespread governmental alerts and media advisories, even going as far as advising against non-essential…

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Chinese Premier Criticizes West’s Economic De-risking From China—Experts Refute Remarks

June 30, 2023
Asia & PacificChina Business & EconomyChina NewsChinese PremierChinese RegimeDavosde-riskingGlobal ExpansionInfiltrating the WestInternational RelationsLi QingSpecial TopicsUS-China relationsWorldWorld Economic Forum
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Chinese Premier Li Qiang criticized the West at the opening of the World Economic Forum for “de-risking” from China, calling it a “false proposition.” However, experts point out that Li’s remarks are unfounded, and the Chinese regime’s coercive economic tactics have caused many companies to move their production out of China to reduce risks. The…

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In China, Government Jobs No Longer Mean ‘A Solid Rice Bowl’

June 30, 2023
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A city once known as one of China’s most robust has gone viral for a financial crisis that has left essential city workers without paychecks. Netizens are buzzing about its failure to pay public employees—for over six months, and in some cases, for more than a year. Meanwhile, residents say that their city is just…

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Nvidia Reacts to Possible US Chip Restrictions to Beijing

June 30, 2023
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Nvidia is downplaying possible U.S. chip-export restrictions to China by the Biden administration. The Wall Street Journal reported on June 27 that the White House was mulling even more restrictions on artificial intelligence (AI) chip exports to China. A potential chip ban could affect Nvidia’s status as the world’s leader for the graphics processors needed to…

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DOJ Argues Florida Law Restricting Chinese Land Ownership Violates Constitution

June 30, 2023
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The Department of Justice on Tuesday challenged a Florida law that bars Chinese citizens from owning land, asserting it violates federal housing law and the 14th Amendment. The department filed a statement of interest (pdf) in a case challenging the provision, arguing the Florida law restricting Chinese land ownership by U.S. military installations and major…

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China’s Industrial Profits Tumble, Deepening Economic Gloom

June 29, 2023
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BEIJING—Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8 percent year-on-year slump in profits came on top of the 20.6 percent contraction in January-April, and added to evidence of…

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