More Japanese companies are considering weaning themselves from Chinese supply chains after more than 2,000 of them have withdrawn from China since COVID-19. Some 26 percent of Japan’s total imports came from China in 2020, and while Japan may still have close economic ties with China, tensions between Washington and Beijing amid international tensions have…
Japanese Companies Assess Cost of Decoupling From China’s Supply Chain
October 31, 2022
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Asia & PacificBusiness & MarketsBusinesses in COVID-19ChinaChina Business & EconomyCompanieseconomic policieshondaInternationalInternational RelationsJapanU.S.-ChinaWorld
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UN, Turkey, Ukraine Press Ahead With Black Sea Grain Deal Despite Russian Pullout
KYIV/NEW YORK—The United Nations, Turkey and Ukraine are pressing ahead to implement a Black Sea grain deal with a transit plan in place for 16 ships on Monday, despite Russia suspending its participation in the pact that has allowed the export of Ukrainian agricultural products to world markets. Russia, which invaded Ukraine on Feb. 24,…
Heavy Russian Barrage on Ukraine, No Water for Much of Kyiv
KYIV, Ukraine—A massive barrage of Russian cruise missile and drone strikes hit critical infrastructure in Kyiv, Kharkiv and other Ukrainian cities early Monday, knocking out water and power supplies in apparent retaliation for what Moscow alleged was a Ukrainian attack on its Black Sea Fleet. Russia has intensified its attacks on Ukraine’s power plants and…
Despite Slowing Economy, Beijing Continues Pumping Aid Into the Solomons, Kiribati
October 31, 2022
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Asia & PacificAustraliaBusiness & MarketsChinaChina-Australia RelationsChinese RegimeCOVID-Zero Policyeconomic policiesInternationalInternational RelationsKiribatiSolomon IslandsSouth Pacificthe Solomon IslandsWorld
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Beijing is pumping more money into new developments in the Solomon Islands and Kiribati as “COVID-Zero” policies pummel the Chinese economy. While Chinese aid flows to the overall Pacific region declined from 2016 to 2021, the Chinese Communist Party (CCP) has upped its investment in the Solomon Islands and Kiribati, which switched allegiances from Taiwan…
Tesla Lithium Deal With Australian Miner Lapses
A slated deal for the sale of lithium to electric car giant Tesla from Australia’s Core Lithium has been quietly shelved. “I want to thank Tesla for the time taken to negotiate with Core and look forward to maintaining an open and ongoing dialogue,” said CEO Gareth Manderson in an announcement (pdf) on Oct. 27….
Beijing’s Recruitment of Western Military Pilots Prompts National Security Concerns For Canada, UK
October 31, 2022
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arms raceAsia & Pacificccp threatChinachina threatsEuropeEurope-China RelationsInfiltrating the WestInternationalInternational RelationsNational SecuritySpecial TopicsUKUSWorld
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Citing national security concerns, both Canada and the UK have started to examine possible breaches of confidentiality agreements among current and former military personnel following reports that the Chinese regime has been recruiting British military pilots. The Canadian Department of National Defence (DND) told The Epoch Times on Oct. 27 that it is looking into…
Russia Halts Black Sea Grain Deal after Attack, Points Finger at UK
Russia has announced its withdrawal from a UN-brokered agreement with Kyiv that had guaranteed the safe shipment of Ukrainian wheat through the Black Sea. The move came in response to an attack on Russian naval vessels docked in the Crimean port of Sevastopol, for which Moscow has blamed Ukrainian forces working in tandem with British…
UK Prime Minister Could U-Turn on Attending COP27
UK Prime Minister Rishi Sunak could U-turn on his decision not to attend the COP27 climate summit in Egypt if progress has been made on his autumn budget, his official spokeman has confirmed. Last Thursday a Number 10 spokeswoman said: “The prime minister is not expected to attend Cop27 and this is due to other…
OPEC Raises Long-Term Oil Demand View, Calls for Investment
October 31, 2022
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Business & Marketseconomic policieseconomyenergyEuropeGold and CommoditiesInternationalInvestmentMarketsOilOPECOutlookWorld
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ABU DHABI—OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition. The view from the Organization of the Petroleum Exporting Countries, in its 2022 World Oil Outlook, contrasts with that…
World Food Supplies at Risk as Russia Withdraws From Black Sea Deal
October 31, 2022
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Business & Marketscrisiseconomic policieseconomyenergyEuropeFoodGold and CommoditiesinflationInternationalMarketsRussiaRussia-Ukraine WarshipmentsU.N.UkraineWorld
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SINGAPORE—Russia’s weekend backtrack from a U.N.-brokered deal to export Black Sea grains is likely to hit shipments to import-dependent countries, deepening a global food crisis and sparking gains in prices. Hundreds of thousands of tonnes of wheat booked for delivery to Africa and the Middle East are at risk following Russia’s withdrawal, while Ukrainian corn…
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