China

Despite growing tensions, China buying computer chips from Taiwan firms
27Nov By Walter ParezNo Comments
Asia, China, Market, World

Despite growing tensions, China buying computer chips from Taiwan firms

Despite growing tensions between Taiwan and China, Chinese technology companies have increased orders for computer chips or semiconductors made in Taiwan.According to media reports, Taiwan has reported a six per cent jump in export from July through September this year.Alicia Garcia Herrero, chief Asia-Pacific economist with the French investment bank Natixis said, “They (Chinese firms) know they’re not yet able to produce at least the highest-end semiconductors needed for 5G.”She added that Taiwan makes top-level semiconductors and is unlikely to give up as a leader in the field. Taiwan factories produce some of the world’s top computer chips. But during the past four years, it has pushed companies to depend less on the Chinese market.The two countries have been locked in a political disp...
Read More
In Tibet, China preaches the material over the spiritual
25Nov By Team FPNo Comments
China, World

In Tibet, China preaches the material over the spiritual

LHASA, China: Dzekyid, a 54-year-old barley farmer, presents himself as a role model for his neighbours and for the success of China's efforts to tie economic development to social control in Tibet. Dzekyid's well-built house in Jangdam village has a hall filled with Buddhist scriptures and Thangka paintings, and a row of prayer wheels for his religious 76-year-old father, Tenzin, to spin twice a day. As a member of China's ruling Communist Party, Dzekyid is an atheist. "This house is possible because of good government policies. My heart is wholly with the party, not even one bit with religion," said Dzekyid, whose family was showcased to a group of reporters on a government-organised tour of Tibet, an area where access to foreign journalists is normally barred. Government official...
Read More
Anti-China protests gain momentum in Argentina
21Nov By Mike TrudellNo Comments
China, Market, USA, World

Anti-China protests gain momentum in Argentina

Between 2005 and 2019, Argentina has received maximum investment from China amounting to US$30.6 billion, which is 39 per cent of the total Chinese investment in South America.At the heart of the new Chinese investments in Argentina, is the proposal to build 25 industrial pig farms in Argentina, which will significantly increase pork exports to China. The project involving investment of US$3.8 billion, is expected to generate annual production of 900,000 tons amounting to US$2.5 million in annual exports.As per media reports, the pig farms will be set up with Chinese investment in partnership with local producers in Argentina, which currently has 10 industrial pig farms exclusively for export to China. In addition, 25 new farms are due to start operation in the next six years, which will e...
Read More
Billionaire Jack Ma pays a hefty price for offending the Chinese regime
20Nov By Joe RodriguezNo Comments
Asia, China, World

Billionaire Jack Ma pays a hefty price for offending the Chinese regime

The year 2020 could have been the best year for Jack Ma, the billionaire founder of fintech giant Ant Group Co. Ltd. But now, he is paying an extremely high price for challenging the Chinese Communist Party.The state has pulled the plug on the ANT group, which could have been the biggest Fintech Company in the world. The initial public offering of Ant Group, the internet finance giant, was ready with its $34 billion stock debut in Shanghai and Hong Kong.This would have been the biggest IPO, or first sale of stock in the world - greater than the listing of Saudi Aramco, the state-run oil giant, when it went public last year. But the initiative received a huge blow from the Chinese authorities as the government suspended the public listing of the company abruptly.This caused a severe setback...
Read More
Japan hopes RCEP deal pushes Biden and U.S. to rejoin trade frameworks
17Nov By Team FPNo Comments
Asia, China, Singapore, World

Japan hopes RCEP deal pushes Biden and U.S. to rejoin trade frameworks

The long-awaited free trade agreement signed Sunday between 15 Asia-Pacific countries after eight years of talks reflect their determination to strengthen economic unity and promote free trade, regardless of political differences, as questions loom over how U.S. President-elect Joe Biden will engage with the region. Japan hopes the Regional Comprehensive Economic Partnership, which includes China and South Korea and represents 30% of the world’s trade and population, will encourage the United States to return to a multilateral trade framework. “Regarding RCEP, it may create discussions in the United States, such as ‘is it okay that we are sitting out when a free trade network is created in the Indo-Pacific?'” a senior Japanese diplomat said. The Trans-Pacific Partnership had been promot...
Read More
Delhi Court rejects bail plea of Chinese national arrested under Official Secrets Act
17Nov By Joe RodriguezNo Comments
Asia, China, Market

Delhi Court rejects bail plea of Chinese national arrested under Official Secrets Act

A bail petition by Miss Qing Shi, a Chinese National arrested in India by special cell of Delhi Police under the Official Secrets Act has been rejected by a Delhi Court.She was arrested along with freelance Journalist Rajeev Sharma and one other accused in September.While rejecting the bail, Chief Metropolitan Magistrate Pawan Singh Rajawat said that “no ground is made out to grant bail to Qing Shi at this stage.”The court noted that, if accused Wing Shi is released on bail, she will not only try to flee from the country through land routes but may also attempt to indulge in similar offences.The court also observed, “Furthermore, the other material which was recovered coupled with the preliminary electronic evidence collected by the investigating agency points towards involvement of accuse...
Read More
A headless chicken: Multiple obstacles hit CPEC’S progress
17Nov By Brian ThompsonNo Comments
China, Market, USA

A headless chicken: Multiple obstacles hit CPEC’S progress

 A ‘headless’ body, officially admitted as such, is supposed to be taking (or delaying) decisions in Pakistan regarding the 60 billion-dollar China-Pakistan Economic Corridor (CPEC) project.The Pakistan Government’s ordinance under which the CPEC Authority (CPECA) was set up last year lapsed in July, 2020 and no fresh legal/constitutional arrangement has been made. Questioned by a parliamentary committee, the government said the body is headed by “no one.”The man placed at the top of CPECA, retired Lt. general Asim Bajwa, is working away from the office, and not drawing any salary. He was forced to resign as a Special Adviser of Prime Minister Imran Khan in October following media exposure about over 90 business firms his family has allegedly set up. He was holding dual charge and now, Kha...
Read More
Analysis: Fear on the wild frontier as riskier stock markets left trailing
16Nov By Team FPNo Comments
China, Market, World

Analysis: Fear on the wild frontier as riskier stock markets left trailing

related media assets (image or videos) available. Click to see the gallery. 3 related media assets (image or videos) available. Click to see the gallery. Frontier stocks have trailed bigger emerging markets in recovering from the coronavirus-induced crash as liquidity has dried up and investors beat a hasty retreat. LONDON: Frontier stocks have trailed bigger emerging markets in recovering from the coronavirus-induced crash as liquidity has dried up and investors beat a hasty retreat. BMO Global Asset Management shut a US$78 million fund and Aberdeen Standard Investments wound up an investment trust, both invested in frontier stocks, in recent months after fellow fund manager Barings took a similar step last year. Money managers say assets under management in dedicated frontier fu...
Read More
US imposes sanctions on four Chinese officials over Hong Kong crackdown
16Nov By Team FPNo Comments
China, World

US imposes sanctions on four Chinese officials over Hong Kong crackdown

WASHINGTON: The United States on Monday (Nov 10) imposed sanctions on four more Chinese officials in Hong Kong's governing and security establishment over their alleged role in crushing dissent in the former British colony. The US Treasury and State Department identified the four as Deng Zhonghua, deputy director of the Hong Kong and Macau Affairs Office; Edwina Lau, deputy commissioner of police in Hong Kong, and Li Jiangzhou and Li Kwai-wah, two officials at the newly established national security office in Hong Kong. US Secretary of State Mike Pompeo said the sanctions were for their role in implementing Hong Kong's new national security law. He said they would be barred from travelling to the United States, and any US-related assets would be blocked. "These actions underscore US...
Read More
PM Lee says Singapore to contribute US$100,000 to COVID-19 ASEAN fund, hails RCEP signing as ‘major achievement’
16Nov By Team FPNo Comments
China, Singapore, World

PM Lee says Singapore to contribute US$100,000 to COVID-19 ASEAN fund, hails RCEP signing as ‘major achievement’

related media assets (image or videos) available. Click to see the gallery. 2 related media assets (image or videos) available. Click to see the gallery. SINGAPORE: Singapore will contribute US$100,000 to the COVID-19 ASEAN Response Fund as the region continues to work together to combat the pandemic, Prime Minister Lee Hsien Loong said on Thursday (Nov 12). Speaking at the ASEAN Summit, which is being held via video conference, Mr Lee also called the signing of the Regional Comprehensive Economic Partnership (RCEP) later in the week a “major achievement”. “The RCEP affirms ASEAN’s collective commitment to economic integration and to an inclusive, open and rules-based multilateral trading system,” Mr Lee said. The trade pact includes the 10-member ASEAN bloc, along with Chin...
Read More