Tag: China Business & Economy

Australian Telco Finalises $1.6 Billion Buyout of Digicel to Keep It out of Chinese Hands

July 14, 2022
Asia & PacificAustraliaBusiness & MarketsChinaChina Business & EconomyChina-Australia RelationsCompaniesDigiceleconomic policiesInternationalInternational RelationsPenny WongSouth PacificTelstraWorld
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Australian telecommunications giant Telstra, with backing from the federal government, will finalise its purchase of major Pacific mobile network provider Digicel Pacific. In October 2021, the previous Morrison government launched the bid to keep out potential Chinese suitors from gaining control over Digicel’s data network—the largest in the Pacific region. Current Foreign Minister Penny Wong…

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China’s Stars Dim for Investors

July 14, 2022
ChinaChina Business & EconomyChinese economyforced laborInvestmentOpinionThinking About ChinaViewpoints
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Commentary By strangling the Chinese economy and crushing human rights, President Xi Jinping is rapidly turning China into a bad gamble for Western investors and multinational corporations. China’s dictator has run into increasing, if carefully expressed, criticism from top-profile figures within the Chinese Communist Party (CCP)—including Premier Li Keqiang—over Xi’s ideological struggle to promote state capitalism alongside his…

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Removing Trump-Era Tariffs on China Will Not Significantly Ease Inflation: Commerce Secretary

July 14, 2022
ChinaChina Business & EconomyPolicies & ImpactstariffsUSUS NewsUS-China relations
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Commerce Secretary Gina Raimondo said on July 11 that removing Trump-era tariffs on Chinese goods would not cool down inflation “in a very significant way,” highlighting the difficulties as the White House seeks to tame historic price rises in the country. Still, the senior official administration suggested her support for the move, saying it could…

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China’s Dominance in Rare Earth Processing Leaves US Defense Industry Vulnerable: Expert

July 14, 2022
ChinaChina Business & Economyrare earthThreat from Communist ChinaUS-China relations
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As China already controls more than 85 percent of the global market for refining rare earth minerals, the United States’ defense industry could run into trouble if the imports of these elements are halted, according to Luisa Moreno, president of Defense Metals, a Vancouver-based mineral exploration company. Rare earth is used in various industries, according to…

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Beijing Must Acknowledge Its Mistakes: Australian PM

July 14, 2022
Andrew Hastieanthony albaneseAsia & PacificAustraliaChinaChina Business & EconomyChina-Australia Relationschina-australia trade disputeChinese RegimeInternationalInternational RelationsPenny WongWorld
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Australian Prime Minister Anthony Albanese has called on Beijing to admit it was a mistake to impose economic coercion on Australia and to remove trade barriers that have been place since 2020. The comments by Albanese come days after Australia’s Foreign Minister Penny Wong and Chinese Foreign Minister Wang Yi met on the sidelines of the…

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China Auto Industry Cuts 2022 Outlook as Commercial Demand Slumps

July 14, 2022
Asia & PacificBusiness & MarketsChinaChina Business & EconomyeconomyShanghaislumpvehicleWorld
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SHANGHAI—A slump in commercial-vehicle demand led China’s automobile industry association on Monday to downgrade its sales forecast, as anti-pandemic measures weighed on the economy and its car market, the world’s largest. The industry will sell 27 million cars this year, up 3 percent on 2021, the China Association of Automobile Manufacturers forecast, cutting its outlook…

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US Treasury Diplomat Nominee Aims to Curb China’s Lending Influence

July 14, 2022
Business & MarketsChinaChina Business & EconomyeconomyInternational RelationslendingUSUS Newsus treasuryUS-China relations
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WASHINGTON—The nominee for the U.S. Treasury’s top economic diplomacy job said on Tuesday he wants to limit China’s growing global lending influence by working with international financial institutions and development banks to give countries borrowing alternatives. Jay Shambaugh is President Joe Biden’s choice for Treasury undersecretary for international affairs. If confirmed, the George Washington University…

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Businesses Yet to Fully Grasp China Supply Chain Risk Amid Net-Zero Push: Energy Lawyer

July 13, 2022
Asia & PacificAustraliaBusiness & MarketsChinaChina Business & EconomyChina-Australia RelationsCompanieseconomic policiesInternationalInternational Relationsnet zeroself-reliancesovereign manufacturingwind turbinesWorld
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Businesses have yet to fully grasp the risks of relying on Chinese supply chains, an issue that will become more critical as the net-zero push sets to increase Australia’s reliance on China, according to energy lawyer Scott Schlink. Schlink, a partner at Holding Redlich, said that in the “foreseeable future,” Australia would continue to rely…

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Chinese Leadership Dispute in the Spotlight as Premier Urges Provinces and Cities to Stabilize Their Economies

July 13, 2022
ChinaChina Business & EconomyChina economychina supply chainChinese RegimeCOVID lockdownsdynamic zero-COVID
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News Analysis In a recent economics symposium, Chinese Premier Li Keqiang emphasized the need to stabilize the economy and revealed that China’s current economic situation is “very challenging.” But on June 29, Chinese Communist Party leader Xi Jinping reiterated the “zero-COVID” policy and called the policy important in affecting economic development and advancement. The clash…

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US Retailers Falter in China Amid Lockdowns, Weak Economy, Nationalism

July 13, 2022
American brandsBusiness & MarketsChinaChina Business & EconomyCompaniesInvestmentlockdownNationalismThreat from Communist ChinaUSUS NewsUS-China relations
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News Analysis U.S. retailers in China have been hit hard by COVID-19 lockdowns, a weakening economy, and increased nationalism. Amazon Kindle is exiting the China market, as are Airbnb and Yahoo. Fifty-three percent of companies responding to a U.S. Chamber of Commerce survey said they would decrease their China exposure if COVID lockdowns persist. The chamber’s…

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