Saudi Aramco's CEO: Global Energy Goals Need China's Low-Cost Green TechAs concerns escalated about a second China shock, with China exporting products like solar panels and electric vehicles at bargain prices to countries worldwide, including the U.S. and Europe, Saudi Arabia surprisingly defended China. According to the Financial Times (FT), on the 22nd (local time), Amin Nasser, CEO of Saudi Aramco, the state-owned oil company […]
China Unfazed By Biden's Trade WarDespite the United States ramping up its ‘China-bashing’ ahead of the November presidential election, Chinese President Xi Jinping has been relatively quiet, refraining from potentially backlash-inducing responses, according to a Bloomberg analysis on the 21st (local time). US President Joe Biden has criticized China for xenophobia and publicly pledged to triple the current tariffs on […]
China's Wind Turbine Exports Skyrocketed by 60.2% Despite Market ChallengesAs price competition in China intensifies, the focus is shifting towards exports. Last year, Chinese wind turbine exports saw a significant increase. The European Union (EU) has investigated subsidies for Chinese wind turbines following electric cars and solar power. Chinese companies are speeding up exports in response to intensified domestic market competition. On the 22nd, […]
Saudi Aramco's Top Boss Backs China in Energy Dumping ControversyThe world’s largest oil producer has stepped up to defend China against Western criticism that it dumps solar panels and electric vehicles at rock-bottom prices. According to the Financial Times (FT), Amin Nasser, CEO of Aramco, said at the World Energy Congress (WEC) held in Rotterdam, Netherlands, on the 22nd (local time), “China has greatly […]
U.S.-Philippines Military Drill: A Bold Move Amid South China Sea DisputesOn the 22nd, Major General Marvin Lico of the Philippines (left) and Lieutenant General William Jurney of the U.S. Marine Corps Pacific Command attended the opening ceremony of Balikatan, a joint military exercise between the U.S. and the Philippines, held at the military headquarters in Quezon City, a suburb of Manila. /AFP, United The annual […]
Tesla Slashes Prices on All Models in China Following U.S. ReductionsElectric car company Tesla lowered the sales prices of its three flagship models by $2,000 each in the U.S. market and then dropped the sales prices of all models in China. According to Tesla’s official Chinese website on the 21st, the Model 3 price was reduced from $39,000 to $36,800, a decrease of $2,200. The […]
Will China Become the New EV Powerhouse?Electric cars (including hybrids) accounted for 50.4% of new vehicles sold in China from the 1st to the 14th of this month, outselling diesel and gasoline cars. This shift towards electric vehicles as the mainstream in the car market is attributed to the government’s active support for the electric vehicle industry through subsidies and the […]
US Secretary of State to Confront China Over Support to RussiaU.S. Secretary of State Antony Blinken to Visit Beijing and Shanghai, Meetings with Wang Yi and Others Expected U.S. Secretary of State Antony Blinken is set to visit China this week and is expected to urge the country to halt exports of military-capable components and semiconductors to Russia. According to Bloomberg on the 20th (local […]
Fears Arise As Biden's Tariff Hike Intensifies U.S.-China DisputesOn the 22nd, Samsung Securities analyzed the possibility of the U.S.-China dispute, which has resurfaced as a hot topic in the financial market and is likely to intensify. President Joe Biden recently announced plans to raise tariffs on Chinese steel and aluminum from 7.5% to 25%. The U.S. Trade Representative Katherine Tai revealed that they […]
Copper Prices Soar as China's Largest Mining Group Suspends ProductionProduction suspended at the COMMUS copper mine in CongoThe possibility of high levels of radiation in cobalt raises concernsCopper prices are at their highest in a year and are expected to face increased upward pressure Zijin Mining Group, China’s top gold-producing company, has halted production at its copper mine in the Democratic Republic of the […]
China's Sinking Cities: 200 Million People at RiskA recent study has revealed that 45% of Chinese cities are sinking by more than 0.12 inches (3mm) annually, putting hundreds of millions of Chinese citizens at risk. BBC reported this on the 19th (local time), citing a paper published in Science. About 50 Chinese scientists jointly wrote the paper. The study, conducted from 2015 […]
Tesla Slashes Prices Across Globe Amid Rising InventoryTesla cuts prices by $2000 in the US and €2000 in Europe Tesla has lowered its prices in Europe due to a surge in inventory at its Gigafactory in Grünheide (Berlin, Germany), built with the booming European electric vehicle market in mind. According to Reuters and The Guardian UK on the 21st (local time), Tesla […]
Tesla's Dominance Challenged as BYD Takes Lead in ChinaChina’s foremost electric vehicle (EV) manufacturer, BYD, has secured the leading position in the domestic auto market share for the first time. According to the China Passenger Car Association (CPCA), on the 21st, BYD sold 263,000 units last month in China. This is a 35.4% increase compared to the sales volume of 192,289 units in […]
Blinken's Crucial Meeting in China: What's on the Agenda?U.S. Secretary of State Antony Blinken plans to meet with his Chinese counterpart, Wang Yi, who is the Director of the Central Foreign Affairs Office of the Communist Party (also serving as the Foreign Minister), in Beijing and Shanghai from the 24th to the 26th, the State Department announced on the 20th (local time). The […]
Global Supply Chain Crisis: Tri-Nation Partnership Takes a StandThe United States, South Korea, and Japan have declared their intention to counteract the supply chain crisis caused by China’s overproduction and low-cost dumping in the electric vehicle and solar panel industries, among others, through a Reinforcing and Improving Sustainable Economies (RISE) partnership. On the 17th (local time), Choi Sang Mok, the Deputy Prime Minister […]
Survey Reveals: 80% of South Koreans Seek Friendly Ties with ChinaAccording to a survey, approximately 80% of South Koreans wish to maintain a friendly and cooperative relationship with China. Furthermore, over half of the respondents felt that the recent relations between South Korea and China have cooled. Online edition of Global Times’ parent media, Huanqiu Shibao./Huanqiu Shibao. On the 18th, the English edition of Global […]
Hyundai's Latest Decision Sparks Controversy in South KoreaHyundai Plans to Import ‘Sonata Taxi’ Produced in China Recently, news broke that Hyundai could import the eighth-generation Sonata taxi produced in China. At the time, the Hyundai union claimed a collective agreement violation and opposed the move. Until now, the seventh-generation Sonata taxi has been produced in the Chungnam Asan factory, but due to […]
IMF Warns: 'U.S. and Chinese Fiscal Deficits Are a Grave Risk to the Global Economy'US fiscal deficit to hit 7.1% of GDP next year, triple the average for advanced economiesChina’s fiscal deficit to reach 7.6%, double the average of emerging countriesUS debt also affects inflation…high inflation-high interest rate vicious circle The International Monetary Fund (IMF) warned on the 17th (local time) that the massive fiscal deficit in the United […]
Volkswagen and Xiaopeng Unite to Boost China's EV MarketChinese electric vehicle startup Xiaopeng and the Volkswagen Group announced that they have signed a framework agreement for technical cooperation related to Electric/Electronic Architecture (E/E Architecture) to produce Volkswagen brand electric vehicles in the Chinese market. The two companies plan to jointly develop Xiaopeng’s latest E/E Architecture and integrate it into Volkswagen’s central Chinese platform […]
US Law Targets Chinese Communist Party for Child Labor in Cobalt MiningA bill has been proposed in the U.S. Congress to ban the import of cobalt from the Democratic Republic of the Congo (DRC). This is due to allegations that the Chinese Communist Party, which owns 90% of the DRC’s cobalt mines, is exploiting child labor and forced labor. According to industry sources, on the 18th, […]
Saudi Aramco's CEO: Global Energy Goals Need China's Low-Cost Green Tech As concerns escalated about a second China shock, with China exporting products like solar panels and electric vehicles at bargain prices to countries worldwide, including the U.S. and Europe, Saudi Arabia surprisingly defended China. According to the Financial Times (FT), on the 22nd (local time), Amin Nasser, CEO of Saudi Aramco, the state-owned oil company […]
China Unfazed By Biden's Trade War Despite the United States ramping up its ‘China-bashing’ ahead of the November presidential election, Chinese President Xi Jinping has been relatively quiet, refraining from potentially backlash-inducing responses, according to a Bloomberg analysis on the 21st (local time). US President Joe Biden has criticized China for xenophobia and publicly pledged to triple the current tariffs on […]
China's Wind Turbine Exports Skyrocketed by 60.2% Despite Market Challenges As price competition in China intensifies, the focus is shifting towards exports. Last year, Chinese wind turbine exports saw a significant increase. The European Union (EU) has investigated subsidies for Chinese wind turbines following electric cars and solar power. Chinese companies are speeding up exports in response to intensified domestic market competition. On the 22nd, […]
Saudi Aramco's Top Boss Backs China in Energy Dumping Controversy The world’s largest oil producer has stepped up to defend China against Western criticism that it dumps solar panels and electric vehicles at rock-bottom prices. According to the Financial Times (FT), Amin Nasser, CEO of Aramco, said at the World Energy Congress (WEC) held in Rotterdam, Netherlands, on the 22nd (local time), “China has greatly […]
U.S.-Philippines Military Drill: A Bold Move Amid South China Sea Disputes On the 22nd, Major General Marvin Lico of the Philippines (left) and Lieutenant General William Jurney of the U.S. Marine Corps Pacific Command attended the opening ceremony of Balikatan, a joint military exercise between the U.S. and the Philippines, held at the military headquarters in Quezon City, a suburb of Manila. /AFP, United The annual […]
Tesla Slashes Prices on All Models in China Following U.S. Reductions Electric car company Tesla lowered the sales prices of its three flagship models by $2,000 each in the U.S. market and then dropped the sales prices of all models in China. According to Tesla’s official Chinese website on the 21st, the Model 3 price was reduced from $39,000 to $36,800, a decrease of $2,200. The […]
Will China Become the New EV Powerhouse? Electric cars (including hybrids) accounted for 50.4% of new vehicles sold in China from the 1st to the 14th of this month, outselling diesel and gasoline cars. This shift towards electric vehicles as the mainstream in the car market is attributed to the government’s active support for the electric vehicle industry through subsidies and the […]
US Secretary of State to Confront China Over Support to Russia U.S. Secretary of State Antony Blinken to Visit Beijing and Shanghai, Meetings with Wang Yi and Others Expected U.S. Secretary of State Antony Blinken is set to visit China this week and is expected to urge the country to halt exports of military-capable components and semiconductors to Russia. According to Bloomberg on the 20th (local […]
Fears Arise As Biden's Tariff Hike Intensifies U.S.-China Disputes On the 22nd, Samsung Securities analyzed the possibility of the U.S.-China dispute, which has resurfaced as a hot topic in the financial market and is likely to intensify. President Joe Biden recently announced plans to raise tariffs on Chinese steel and aluminum from 7.5% to 25%. The U.S. Trade Representative Katherine Tai revealed that they […]
Copper Prices Soar as China's Largest Mining Group Suspends Production Production suspended at the COMMUS copper mine in CongoThe possibility of high levels of radiation in cobalt raises concernsCopper prices are at their highest in a year and are expected to face increased upward pressure Zijin Mining Group, China’s top gold-producing company, has halted production at its copper mine in the Democratic Republic of the […]
China's Sinking Cities: 200 Million People at Risk A recent study has revealed that 45% of Chinese cities are sinking by more than 0.12 inches (3mm) annually, putting hundreds of millions of Chinese citizens at risk. BBC reported this on the 19th (local time), citing a paper published in Science. About 50 Chinese scientists jointly wrote the paper. The study, conducted from 2015 […]
Tesla Slashes Prices Across Globe Amid Rising Inventory Tesla cuts prices by $2000 in the US and €2000 in Europe Tesla has lowered its prices in Europe due to a surge in inventory at its Gigafactory in Grünheide (Berlin, Germany), built with the booming European electric vehicle market in mind. According to Reuters and The Guardian UK on the 21st (local time), Tesla […]
Tesla's Dominance Challenged as BYD Takes Lead in China China’s foremost electric vehicle (EV) manufacturer, BYD, has secured the leading position in the domestic auto market share for the first time. According to the China Passenger Car Association (CPCA), on the 21st, BYD sold 263,000 units last month in China. This is a 35.4% increase compared to the sales volume of 192,289 units in […]
Blinken's Crucial Meeting in China: What's on the Agenda? U.S. Secretary of State Antony Blinken plans to meet with his Chinese counterpart, Wang Yi, who is the Director of the Central Foreign Affairs Office of the Communist Party (also serving as the Foreign Minister), in Beijing and Shanghai from the 24th to the 26th, the State Department announced on the 20th (local time). The […]
Global Supply Chain Crisis: Tri-Nation Partnership Takes a Stand The United States, South Korea, and Japan have declared their intention to counteract the supply chain crisis caused by China’s overproduction and low-cost dumping in the electric vehicle and solar panel industries, among others, through a Reinforcing and Improving Sustainable Economies (RISE) partnership. On the 17th (local time), Choi Sang Mok, the Deputy Prime Minister […]
Survey Reveals: 80% of South Koreans Seek Friendly Ties with China According to a survey, approximately 80% of South Koreans wish to maintain a friendly and cooperative relationship with China. Furthermore, over half of the respondents felt that the recent relations between South Korea and China have cooled. Online edition of Global Times’ parent media, Huanqiu Shibao./Huanqiu Shibao. On the 18th, the English edition of Global […]
Hyundai's Latest Decision Sparks Controversy in South Korea Hyundai Plans to Import ‘Sonata Taxi’ Produced in China Recently, news broke that Hyundai could import the eighth-generation Sonata taxi produced in China. At the time, the Hyundai union claimed a collective agreement violation and opposed the move. Until now, the seventh-generation Sonata taxi has been produced in the Chungnam Asan factory, but due to […]
IMF Warns: 'U.S. and Chinese Fiscal Deficits Are a Grave Risk to the Global Economy' US fiscal deficit to hit 7.1% of GDP next year, triple the average for advanced economiesChina’s fiscal deficit to reach 7.6%, double the average of emerging countriesUS debt also affects inflation…high inflation-high interest rate vicious circle The International Monetary Fund (IMF) warned on the 17th (local time) that the massive fiscal deficit in the United […]
Volkswagen and Xiaopeng Unite to Boost China's EV Market Chinese electric vehicle startup Xiaopeng and the Volkswagen Group announced that they have signed a framework agreement for technical cooperation related to Electric/Electronic Architecture (E/E Architecture) to produce Volkswagen brand electric vehicles in the Chinese market. The two companies plan to jointly develop Xiaopeng’s latest E/E Architecture and integrate it into Volkswagen’s central Chinese platform […]
US Law Targets Chinese Communist Party for Child Labor in Cobalt Mining A bill has been proposed in the U.S. Congress to ban the import of cobalt from the Democratic Republic of the Congo (DRC). This is due to allegations that the Chinese Communist Party, which owns 90% of the DRC’s cobalt mines, is exploiting child labor and forced labor. According to industry sources, on the 18th, […]
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