china Archives - Page 2 of 3

Remembering Henry Kissinger: An Influential Statesman’s Impact on Foreign Policy

November 30, 2023November 30, 2023 Business

Dr. Henry Kissinger, former US secretary of state, has passed away at the age of 100. Born in Germany and later immigrating to the US, Kissinger rose to prominence in US politics while teaching at Harvard. As Secretary of State, he played a key role in shifting US relations with China and in negotiating the end of the Vietnam War. However, his realpolitik approach to foreign policy drew both praise and criticism, with accusations of war crimes following him throughout his career. Despite the controversies, Kissinger’s contributions to US foreign policy are undeniable and his impact on American history is lasting.

China Takes Action to Address Property Crisis Amid Economic Woes

November 24, 2023December 1, 2023 Business

China is drafting a “white list” of property developers for bank financing, allowing them to access unsecured short-term loans. This is the biggest measure taken by Beijing to address the $3.2 trillion funding gap needed to complete around 20 million pre-sold units across the country. The crisis in China’s real estate sector, triggered by Evergrande’s liquidity crisis, has led to fears of a spillover effect on other sectors. While Beijing tries to cool speculation, it faces the challenge of reviving the sector to boost the economy. Experts believe that the ‘white list’ may fall short of resolving the crisis.

China’s Share of Global GDP in Decline: A Post-China World

November 23, 2023December 1, 2023 Business

China’s share of global GDP is set to decline by 1.4 percentage points over two years, marking the largest drop since the 1960s and 1970s. This shift signifies the end of China’s decades-long run of tremendous economic growth, and its status as an economic superpower is reversing. Factors contributing to this decline include government intervention, debt turmoil, declining productivity, a shrinking workforce, and loss of foreign investors. While Beijing maintains a 5% annual growth target, it is expected that China’s share in the global economy will continue to decrease. This decline has significant implications globally, potentially leading to a power shift among emerging markets.

Baidu’s Revenue Beats Expectations as AI Strategy Shows Promise

November 22, 2023November 30, 2023 Business

Shares of Baidu rose by nearly 4.5% in Hong Kong trading following better-than-expected revenue results. Baidu is aiming to gain a strong foothold in China’s AI market, beginning with the launch of its own ERNIE Bot earlier this year. The company reported a year-on-year revenue increase of 6% to $4.7 billion for the three months ending September 30. CEO Robin Li expressed confidence in Baidu’s AI-centric business and product strategy, which is expected to yield sustained revenue and profit expansion. Baidu, once known primarily for its search engine, is venturing into new sectors such as autonomous driving and generative AI.

U.S. Announces $553 Million Deep-Water Terminal Project in Sri Lanka

November 8, 2023November 22, 2023 Business

The U.S. has announced a $553 million project to build a deep-water shipping container terminal in Sri Lanka’s Port of Colombo. The project aims to transform Colombo into a world-class logistics hub and expand its shipping capacity. It is financed by the United States International Development Finance Corp (DFC), which seeks to compete with China in international development financing. The project signifies the importance of Sri Lanka as a partner in the Indo-Pacific region for the U.S.

California Governor Gavin Newsom Accidentally Takes Down Student While Playing Basketball in China

October 30, 2023November 22, 2023 Business

California Governor Gavin Newsom’s recent trip to China included an unexpected mishap during a basketball game with students. Newsom accidentally collided with a student, causing both of them to fall to the ground. However, the student was uninjured, and Newsom jokingly apologized. The incident gained attention on social media, but Newsom’s trip was also focused on climate action, economic development, and strengthening diplomatic relations with China.

Rising Youth Unemployment in China Threatens Economy and International Relations

October 29, 2023November 22, 2023 Business

The rising youth unemployment rate in China, reaching a record high of 21%, poses significant challenges for the country’s economy and could have implications for the global economy. A major mismatch between job openings and the career aspirations of Chinese youth is contributing to the problem. This issue could strain the US economy, as it heavily relies on China for goods and services. Furthermore, a prolonged youth unemployment crisis in China could lead to civil unrest, political issues, and destabilize trade and supply chains. It is crucial for the Chinese government to take immediate action to address this crisis and secure the country’s economic future.

The Journey of Mei Xiang, Tian Tian, and Xiao Qi Ji: National Zoo Pandas Return to China

October 29, 2023November 11, 2023 Business

The beloved giant pandas, Mei Xiang and Tian Tian, along with their cub, Xiao Qi Ji, will be leaving the National Zoo in Washington, DC, next year. Zoo staff faced challenges in getting Mei Xiang and Tian Tian to mate, resorting to artificial insemination. The pandas are expected to return to China as part of the Giant Panda Cooperative Research and Breeding Agreement. Mei Xiang has given birth to four surviving cubs during her time at the zoo. This journey marks the end of their over 20-year stay in the United States.

Former Premier Li Keqiang: A Look at China’s Top Economic Official

October 27, 2023November 11, 2023 Business

Li Keqiang, China’s former premier, passed away at the age of 68 in Shanghai. He was known for his role as China’s top economic official and advocate for private businesses. However, his philosophy clashed with President Xi Jinping’s agenda, leading to his diminished authority. Despite expecting to succeed President Hu Jintao, Li was sidelined by Xi’s rise to power. Li’s political journey included positions in the Chinese Communist Party, culminating in his appointment as China’s premier in 2013.

The Departure of Jon Stewart from ‘The Problem With Jon Stewart’

October 22, 2023November 11, 2023 Technology

Jon Stewart’s departure from ‘The Problem With Jon Stewart’ on Apple TV came as a surprise, as the third season of the series was about to begin filming. Apple executives had concerns about the topics Stewart wanted to cover, particularly China and artificial intelligence. Stewart chose to leave rather than compromise his creative control, prompting Apple to decide not to renew the series. China has long been a controversial topic, and AI models have also been under fire for copyright and privacy issues. Apple, a Silicon Valley giant, is working on its AI rival while trying to protect its platform’s image.