Asia

A senior MEP claims that the EU and China are nearing a deal on EV import tariffs.
24Nov mmBy Joe RodriguezNo Comments
Asia, China, Market

A senior MEP claims that the EU and China are nearing a deal on EV import tariffs.

FRANKFURT, Nov 22 (Reuters) - Brussels and Beijing are nearing a solution over tariffs on Chinese electric vehicle imports into the bloc, the chair of the trade committee of the European Parliament told a German broadcaster. "We are close to an agreement: China could commit to offering e-cars in the EU at a minimum price," Bernd Lange told n-tv, without elaborating. "This would eliminate the distortion of competition through unfair subsidies, which is why the tariffs were originally introduced." The European Commission was not immediately available for comment. The European Union last month decided to increase tariffs on Chinese-built electric vehicles to as much as 45.3% in its highest-profile trade investigation, a move that has divided Europe and triggered retaliatio...
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A plan for economic security would be advantageous for Japan.
23Nov mmBy Brian ThompsonNo Comments
Asia, Market

A plan for economic security would be advantageous for Japan.

Economic security has become an established concept in the present era as the return of great power competition muddles the line between security and economic issues. Governments are increasingly engaged in areas that had once seemed more the domain of private enterprise, particularly in acquisition and control over critical and emerging technologies. Japan has in many ways been a frontrunner in economic security policy in recent years, understanding its relative shortages vis-à-vis the United States and China, and marshalling resources to enhance domestic capacity and promote cross-border cooperation with like-minded partners. As the geopolitical situation deteriorates and countries increasingly look inward to generate national power, and with industrial policy increasing...
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China urges moderation and a de-escalation of tensions due to the possibility of the Ukraine issue getting worse.
23Nov mmBy Joe RodriguezNo Comments
Asia, China

China urges moderation and a de-escalation of tensions due to the possibility of the Ukraine issue getting worse.

China's position on the Ukraine issue is consistent and clear, and China advocates for resolving the crisis through political means and avoiding escalation of the situation, Foreign Ministry spokesperson Lin Jian said at a regular press conference on Friday. Lin made the remarks in response to an inquiry to comment on reports that Russia fired a hypersonic intermediate-range ballistic missile at Ukraine. In the current situation, all parties should remain calm and restrained, work to de-escalate tensions through dialogue and consultations, and create conditions for an early ceasefire and a political resolution to the crisis, Lin said. Russian President Vladimir Putin, in a televised address, said Moscow struck a Ukrainian military facility with a new medium-range, hypersonic ball...
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Campaigners call the $1.3 trillion climate funding agreement that Cop29 agreed to a “betrayal.”
23Nov mmBy Michael SmithNo Comments
Asia, China, Market, Singapore, USA, World

Campaigners call the $1.3 trillion climate funding agreement that Cop29 agreed to a “betrayal.”

Rich and poor countries concluded a trillion-dollar deal on the climate crisis in the early hours of Sunday morning, after marathon talks and days of bitter recriminations ended in what campaigners said was a “betrayal”. Under the target the developing world should receive at least $1.3tn (£1tn) a year in funds to help them shift to a low-carbon economy and cope with the impacts of extreme weather, by 2035. But only $300bn of that will come primarily in the form they are most in need of – grants and low-interest loans from the developed world. The rest will have to come from private investors and a range of potential new sources of money, such as possible levies on fossil fuels and frequent flyers, which have yet to be agreed. Mohamed Adow, director of the Pow...
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According to Stanford’s AI Center, the US has the best AI environment, followed by China.
22Nov mmBy Joe RodriguezNo Comments
Asia, China, Market, USA, World

According to Stanford’s AI Center, the US has the best AI environment, followed by China.

The US has been called the Wild West when it comes to AI safety due to a lack of federal governance compared to other countries. But that hasn’t impaired its status as the top AI ecosystem in the world, according to a Stanford University ranking. Stanford’s Institute for Human-Centered Artificial Intelligence (HAI) has created a tool that measures the strength of AI ecosystems based on a country’s economy, infrastructure, education, and yes — governance. Those metrics led a panel of experts to designate the US as the world’s AI powerhouse by a landslide because of its high number of existing models, notable private investments, and research on responsible AI. China follows, with strengths in its number of patents granted, investment, and clear national strategy. “Since the...
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China Adds Nine More Countries to Its Visa-Free Entry List – AP
22Nov mmBy Joe RodriguezNo Comments
Asia, China, Market, World

China Adds Nine More Countries to Its Visa-Free Entry List – AP

China plans to expand visa-free entry to people from nine more countries from the end of this month, according to a report by Associated Press, which said the moves is part of efforts to invigorate its sluggish tourism and business sectors. The new countries are Bulgaria, Romania, Malta, Croatia, Montenegro, North Macedonia, Estonia, Latvia and Japan. And visitors from these states will be able to stay for up to 30 days without a visa. That means some 38 countries will soon have ‘visa-free’ access, which is a big dup from just three before the country was hit by the Covid pandemic. Meanwhile, people participating in exchanges will also qualify for visa-free entry – a move that seeks to enhance relations through increased cultural and academic exchanges. In recent months, a signif...
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October 2024: Retail Increases, Industrial Decline, and Export Growth in China’s Economy
21Nov mmBy Joe RodriguezNo Comments
Asia, China, Market

October 2024: Retail Increases, Industrial Decline, and Export Growth in China’s Economy

The National Bureau of Statistics (NBS) has released the trade and economic data for October 2024, reflecting a mixed economic outlook. Retail sales surged 4.8 percent, the highest since February 2024, buoyed by holiday spending and Singles’ Day promotions. However, industrial output growth slowed to 5.3 percent, missing expectations, and the property sector remains sluggish despite recent policy measures. Amid this backdrop, economists highlight the challenges of sustaining growth, particularly with rising global uncertainties. The return of Donald Trump as President-elect of the United States, who has threatened significant tariffs on Chinese imports, poses a potential headwind for China’s trade-dependent sectors. In response, analysts anticipate further s...
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SMIC and Huawei of China “will ramp up production” of the newest AI chip.
21Nov mmBy Joe RodriguezNo Comments
Asia, China, Market, USA, World

SMIC and Huawei of China “will ramp up production” of the newest AI chip.

SMIC, China’s largest contract chipmaker, will make the 910C on its N+2 process, it added. Huawei is aiming to ramp up production even as the yield – the proportion of chips that come off the manufacturing line fully functional – of its advanced AI semiconductors remains far below industry standards. Advanced chips need yields of more than 70% to be commercially viable — lower yields mean greater costs and higher defect rates. But SMIC is currently producing the 910C on older, stockpiled chipmaking equipment, which has limited the chip’s yield to around 20%, Reuters said, citing a source. Even Huawei’s current most advanced processor, the SMIC-made 910B, has a yield of only around 50%, forcing Huawei to slash production targets and delay filling orders for that chip, the ...
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Why AI is the new catalyst for profitable growth in Southeast Asia
21Nov mmBy Brian ThompsonNo Comments
Asia, Market, USA, World

Why AI is the new catalyst for profitable growth in Southeast Asia

Southeast Asia's digital economy is a story of remarkable resilience and dynamism. Millions in the region join the digital landscape every year as consumers, entrepreneurs, developers and creators, driving both economic growth and societal transformation. The e-Conomy SEA 2024 report by Google, Temasek, and Bain & Company captures this dynamism and reveals a regional digital economy that has achieved profitability. In just two years, profitability has grown 2.5x, from US$4 billion in 2022 to US$11 billion in 2024. This underscores the region's capacity to not only embrace innovation but to translate it into tangible economic gains, delivering a 10x increase in revenue since 2016. Combined with strategic investments and forward-thinking policies, the region's inher...
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SMIC and Huawei of China “will ramp up production” of the newest AI chip.
21Nov mmBy Brian ThompsonNo Comments
Asia, China, Market, USA

SMIC and Huawei of China “will ramp up production” of the newest AI chip.

Chinese technology giant Huawei and chipmaker Semiconductor Manufacturing International Corp (SMIC) are aiming to begin mass-production of China’s most advanced homegrown artificial intelligence chip, starting next year, according to Reuters. Huawei is racing to rival US chipmaker Nvidia with its AI chips at a time when increasing export restrictions by Washington — and its allies — are slowing the growth of China’s tech industry. As part of that effort, Huawei plans to start mass producing the Ascend 910C, its newest AI chip offering in China, in the first quarter of 2025, Reuters said, citing sources familiar with the matter. SMIC, China’s largest contract chipmaker, will make the 910C on its N+2 process, it added. Huawei is aiming to ramp up production even as the yield – t...
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