China

The U.S.-China relationship is a Shakespearean tragedy
China, World

The U.S.-China relationship is a Shakespearean tragedy

The one common and peculiar aspect of most Shakespearean tragedies is the fact that the catastrophic events and unfolding misfortunes seem almost inevitable. While characters within the play are well aware of the fact that things are quickly going from bad to worse, it seems almost impossible to change the course of events. Unfortunately, the current U.S.-China relationship seems to be showing the same tendency. Many Shakespearean tragedies were caused by accidents, which in turn were a result of carelessness and miscommunication. U.S.-China relations have never been smooth and peaceful, and have in the past experienced various ups and downs and dangerous crises such as the 1999 bombing of the Chinese embassy in Belgrade and the 2001 military aircraft collision incident, among others. Th...
Fierce competition starts between US, China for energy corridors in central asia
Asia, China, World

Fierce competition starts between US, China for energy corridors in central asia

Amid already heightened tensions between the United States and China, the Trump administration has now called "for a new alliance of democracies" to counter China's aggressive policies, and, in a retaliatory move, Beijing has begun adding more potential new trade and energy corridors linking Central Asia with South Asia and the Middle East.To counter China's aggressive expansionist policies in the South China Sea, the US has decided to have a quadrilateral alliance with Japan, Australia and India.Maleeha Lodhi, who has served as Pakistan's ambassador to Britain, the US and the United Nations said, “Fundamental realignments are taking place across the world at a challenging, transformative time in international affairs when global power is shifting to the East. Our region is no exception an...
China’s young job seekers struggle despite economic recovery
China, World

China’s young job seekers struggle despite economic recovery

ZHENGZHOU: Biology student Ma Jingjing wandered the hall of a job fair in central China among other young Chinese hoping to find work in an economy crushed by the coronavirus pandemic. Ma, 26, is one of almost 9 million people graduating and entering the job market this year at a time of great uncertainty, an issue that has the ruling Communist Party worried to the point that President Xi Jinping has made it a priority. The world's second-largest economy may have rebounded sharply from a historic virus-induced contraction, but its young graduate jobless rate in June was more than three times that for urban unemployment. Ma was among hundreds of young faces streaming in and out of the job fair on a recent weekend in Zhengzhou, where employers in industries ranging from real estate to...
German-Chinese coronavirus vaccine trial begins in China
China, World

German-Chinese coronavirus vaccine trial begins in China

BERLIN: Clinical trials on humans have begun in China for a potential coronavirus vaccine developed by German pharmaceutical group BioNTech with Chinese company Fosun Pharma, the companies said Wednesday (Aug 5). Seventy-two participants have already received their first dose following approval for the phase 1 trial from Chinese regulatory authorities, BioNTech and Fosun Pharma said in a statement. The vaccine candidate, known as BNT162b1, is one of four based on BioNTech's proprietary mRNA technology. Another, BNT162b2, is being evaluated in a global phase 3 trial conducted by BioNTech and US giant Pfizer which started on Jul 27. The phase 1 trial in China involves 144 participants who will receive two doses 21 days apart. Those aged 18-55 will be the first to take part, followed...
Global stocks on defensive as US-China tensions spook investors
China, World

Global stocks on defensive as US-China tensions spook investors

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. U.S. stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world's two largest economies. TOKYO: U.S. stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world's two largest economies. S&P500 futures dropped 0.2per cent while Nasdaq futures lost 0.3per cent. Japan's Nikkei fell 1.3per cent, re-opening after a long weekend. MSCI's b...
Taiwanese firms shift focus to India amid fallout with China
China, Market, World

Taiwanese firms shift focus to India amid fallout with China

Drawn by India’s giant market, inexpensive skilled workforce and tax breaks, Taiwanese firms are apparently pivoting to India and leaving China behind.According to media reports, firms from Taiwan are seeking to reduce their reliance on mainland China. A Taiwanese company Pegatron, an assembly partner for the US tech giant Apple, earlier in July announced that it was applying for permits to set up its first plant in India.The firm, which reported revenue of USD 44.8 billion in 2019, normally offshores its orders to its factories in mainland China. But analysts and the Taiwanese government said the firm’s swing into India is only the latest example of a trend that has been gaining pace over the past four years as ties between India and Taiwan strengthened.According to the Taiwan Bureau of F...
‘We are a battleground now’: In Southeast Asia, U.S.-China tensions flare on social media
Asia, China, Singapore, USA, World

‘We are a battleground now’: In Southeast Asia, U.S.-China tensions flare on social media

Tensions between the United States and China over the South China Sea have erupted into a war of words on social media, in what analysts see as a change in U.S. strategy amid a burgeoning superpower rivalry in Southeast Asia. After Washington last week hardened its position by explicitly rejecting Chinese maritime claims in the South China Sea, U.S. embassies in the region produced an unprecedented flurry of op-eds and statements criticizing Beijing's actions. China's response was fiery, accusing Washington of "defaming China with untrue words so as to mislead the public" in the region. "We are a battleground now," Renato de Castro, an analyst with the Albert Del Rosario Institute for Strategic and International Relations in the Philippines, told Reuters by phone. "It will be a long gam...
Myanmar to involve foreign partners in China-funded mega city project
China, World

Myanmar to involve foreign partners in China-funded mega city project

In another pushback against China, Myanmar has decided to involve international partners in a key project of the Belt and Road Initiative (BRI) - the Chinese funded mega Yangon City Project.The Myanmar government has decided to open up the project for other foreign firms besides China Communications Construction Company (CCCC), as it is not keen that one single company dominates the mega project, according to sources with knowledge on the matter.According to sources, the project has been a source of controversy due to its flood-prone location as well as the CCCC’s involvement.“The CCCC has been accused of corruption relating to development deals in at least 10 countries in Africa and Asia”, they said.During Chinese President Xi Jinping’s visit to Myanmar early this year, the two sides had ...
‘Ugly face’: US and China trade barbs in Myanmar as South China Sea rift deepens
China, World

‘Ugly face’: US and China trade barbs in Myanmar as South China Sea rift deepens

NAYPYITAW: China's embassy in Myanmar on Sunday (Jul 19) accused the United States of “outrageously smearing” the country and driving a wedge with its Southeast Asian neighbours over the contested South China Sea and Hong Kong, as tensions mount between the superpowers. Responding to US claims that Beijing was undermining the sovereignty of its neighbours, the Chinese embassy said US agencies abroad were doing "disgusting things" to contain China and had showed a "selfish, hypocritical, contemptible, and ugly face". The United States last week hardened its position on the South China Sea, saying it would back countries in the region that challenge Beijing’s claim to about 90 per cent of the strategic waterway. In a statement on Saturday, the US embassy in Yangon called China's actio...
China’s economy is recovering. That’s good news for Southeast Asia
Asia, China, World

China’s economy is recovering. That’s good news for Southeast Asia

Pedestrians wearing face masks walk along a road in the Central Business District in Beijing on July 16, 2020. Wang Zhao | AFP | Getty Images Southeast Asian nations will likely benefit from China's economic rebound as the country commands a "lion's share" of regional exports, one economist said this week. China on Thursday said its gross domestic product grew by 3.2% for the second quarter of 2020, compared to the same period a year ago. The country's GDP shrank by 6.8% in the first quarter, when lockdowns were in place due to the coronavirus outbreak. Analysts were expect GDP to grow only 2.5% for the April to June quarter. "While numerous challenges remain, the uptick would rekindle hopes that China's economy can help to pull others along," Wellian Wiranto, an economist at OCBC Bank, w...