Tag: US

After India, Australia may ban TikTok
19Jul By Mike TrudellNo Comments
World

After India, Australia may ban TikTok

Following India’s ban on 59 Chinese apps, including highly popular TikTok application, many parliamentarians in Australia are proposing a ban on TikTok, citing concerns that the Chinese government might be using this app to collect data from users.Recently, Senator Jim Molan of the Liberal Party stated that the Chinese government was misusing TikTok. Another MP has revealed plans to put TikTok before the Foreign Interference through Social Media senate inquiry over fears that the app developers are sharing user data with the Chinese government.He also says this is an effort by the Chinese Communist Party to collect data of users in other countries. “It might be dressed differently but it's the same beast.”TikTok is owned by Chinese tech company Bytedance and has repeatedly been criticized ...
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After Europe, US bans Pakistan Airline’s entry over safety concerns, suspicious licenses
19Jul By Mike TrudellNo Comments
World

After Europe, US bans Pakistan Airline’s entry over safety concerns, suspicious licenses

Following Pakistan’s revelation of its pilots having fake licenses, the US department of transportation suspended Pakistan International Airline’s (PIA) special permit, expressing concerns over the flag carrier’s safety measures and pilots’ “suspicious licenses”.“The PIA will not be able to operate its flights to the United States,” the US authority said in a statement adding that a ban has been placed on “all types of flights” operated by PIA.PIA’s spokesperson confirmed the ban and said that the national carrier had received an email in this regard.“We will address America’s concerns,” he said, adding that hopefully, the matter of pilots’ licenses will be resolved through ongoing corrective measures within the airline.The move comes a few days after the European Union Aviation Safety Age...
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US designates 4 more Chinese media organizations as ‘state propaganda outlets’
28Jun By Mike TrudellNo Comments
World

US designates 4 more Chinese media organizations as ‘state propaganda outlets’

The Trump administration announced on June 22 that it was designating four more Chinese media organizations as “propaganda outlets”, putting them on par with diplomatic missions, in a new round of restrictions likely to lead to some form of retaliation from China.David Stilwell, the State Department's assistant secretary for East Asia and Pacific affairs, said that China Central Television, China News Service, People's Daily and the Global Times would have to report details of their US staffing and what their US real estate holdings are to the State Department.“In designating these outlets as foreign missions, we are formally recognizing the China party state’s effective control over so-called media entities, including those that operate here in the United States,” Stilwell told reporters....
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China loses landmark WTO dispute against EU over market-economy status
24Jun By Walter ParezNo Comments
China, Market

China loses landmark WTO dispute against EU over market-economy status

In a landmark development, China has lost a dispute to the European Union at the World Trade Organization (WTO) for a market economy status, as the former allowed the dispute to lapse.China spent four years fighting for market-economy status, a designation that would give it stronger footing with commercial partners while also curtailing their ability to retaliate over trade disputes.The Chinese government allowed a landmark World Trade Organization dispute — aimed at forcing the European Union to recognize it as a market economy in trade investigations — to lapse on June 15.The case was initially brought in 2016 and China lost an interim ruling on the matter last year.A note by the WTO Secretariat said: "At the request of China, the panel suspended its work on 14 June 2019 (WT/DS516/13). ...
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[Market] Oil prices falls on U.S.-China tensions over Hong Kong
20Jun By Team FPNo Comments
Asia, Market

[Market] Oil prices falls on U.S.-China tensions over Hong Kong

Soon after U.S President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong, oil prices took a drastic downturn on Wednesday.Brent crude fell 47 cents, or 1.3%, to $35.70 a barrel by 1106 GMT and U.S. West Texas Intermediate (WTI) crude was down 32 cents, or almost 1%, at $34.03. “As much as oil fundamentals are improving, there are still several flies in the bullish ointment. They include the latest uptick in U.S.-China tensions,” said Stephen Brennock of oil broker PVM.“The threat of a fresh U.S.-China trade war is no longer just a tail risk and could spell disaster for risk assets,” he added.Gloomy forecasts over the economic impact of the pandemic also weighed on crude prices.The euro zone economy is likely to shrink between 8% and 12% t...
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Oil prices falls on U.S.-China tensions over Hong Kong
27May By Mike TrudellNo Comments
Asia, China, Market

Oil prices falls on U.S.-China tensions over Hong Kong

Soon after U.S President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong, oil prices took a drastic downturn on Wednesday.Brent crude fell 47 cents, or 1.3%, to $35.70 a barrel by 1106 GMT and U.S. West Texas Intermediate (WTI) crude was down 32 cents, or almost 1%, at $34.03. “As much as oil fundamentals are improving, there are still several flies in the bullish ointment. They include the latest uptick in U.S.-China tensions,” said Stephen Brennock of oil broker PVM.“The threat of a fresh U.S.-China trade war is no longer just a tail risk and could spell disaster for risk assets,” he added.Gloomy forecasts over the economic impact of the pandemic also weighed on crude prices.The euro zone economy is likely to shrink between 8% and 12% t...
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