Yellen Warns of Global Economic Threat from China's OverproductionU.S. Treasury Secretary Janet Yellen has started her visit to China, raising concerns about the overproduction capacity of Chinese manufacturing. According to Bloomberg News, on the 5th, Secretary Yellen arrived in Guangzhou, southern China, the previous afternoon. This is her first visit to China in seven months since July last year. During her visit, which […]
Biden's Ultimatum to Israel: Protect Civilians or Risk U.S. BackingBiden talks with Israeli Prime Minister Netanyahu“Decision to support depends on civilian protection policies”Possible policy shift from unilateral supportRepeatedly emphasizes the need for a ceasefire U.S. President Joe Biden has mentioned the possibility of a change in policy towards Israel. It is a warning that support could be withdrawn if measures to protect civilians are […]
CrowdStrike Soars High in IT Security SectorCrowdStrike (CRWD) has been named a “Top Pick” in the global IT security center. CrowdStrike has expanded its market share with an integrated endpoint security solution named Falcon. Falcon, a first-of-its-kind single platform, single console (interface) security solution, is praised for its ability to solve the complexities and operational difficulties at a time when businesses […]
Second Korean War Looms: Kim Jong Un's Aggression Could Spell DisasterNorth Korea is unlikely to hold an advantageous position in any preemptive strikeConcerns over the destructive impact on the global economy and semiconductor supply chain Amid speculations of a potential second Korean War on the Korean Peninsula, Bloomberg reported on the 3rd that Kim Jong Un would likely face destruction in most Korean War scenarios. […]
Yellen Flags Concerns Over China's Overproduction Amid Tariff SpeculationRemarks on China’s overproduction and mentioning of measuresYellen keeps silent on potential additional tariffs U.S. Treasury Secretary Janet Yellen disclosed that additional protective measures against China were being considered before she visited the country. According to Axios, a U.S. online media outlet, Yellen made these remarks in Anchorage before departing for China on the 3rd […]
Swiss Banking Giant UBS to Buy Back $20 Billion of Its SharesSwiss bank UBS has announced a buyback of its shares. On the 2nd (local time), UBS announced that it would start a new buyback program of up to $2 billion and plans to complete up to half by 2024. UBS revealed that it had already bought back nearly 1.2 billion Swiss francs ($1.32 billion) worth […]
Forbes' Newest Billionaire: Taylor Swift's Music Makes HistoryPop icon Taylor Swift reaches billionaire status, as reported by Forbes. Forbes released a list titled New Billionaires 2024 on April 2. Forbes reports a record-breaking year for billionaires, with 2,781 individuals and a combined wealth of $14.2 trillion. This year’s Forbes list sees a significant jump in newcomers, with 265 joining the ranks compared […]
Tick Tock on the Moon: U.S. to Develop Lunar Standard TimeWhite House orders NASA to establish standard timeAdvancing exploration and excavation with lunar standard timeWhite House: “Need a talk with nations of Artemis Accords” As the race for moon exploration among space development superpowers accelerates, the U.S. is set to establish a lunar standard time. With the introduction of the standard time, all figures, standards, […]
Japan's Defense Export Revolution: A Game Changer in Global Politics? - Part 4Competition between Korea and Japan in the fighter jet market is Inevitable The greatest concern for the South Korean defense industry is Japan’s move to export fighter jets. Japan, jointly developing next-generation fighter jets with the UK and Italy for deployment in the 2030s, has even revised its laws to facilitate sales. The Fumio Kishida […]
Japan's Defense Export Revolution: A Game Changer in Global Politics? - Part 3“The surge in South Korea’s K-defense exports stimulates Japan” The reason Japanese defense companies are aggressively launching sales is not only due to the strong will of the Japanese government to export defense equipment but also due to the changes in the rapidly growing global defense market after the Ukraine war. For example, in the […]
China Blasts U.S. Export Restrictions, Global Industry on EdgeU.S. Announces Revised Export Regulations on January 29“Serious Impact on Cooperation between China and Foreign Companies” China has criticized the U.S.’s semiconductor export regulations towards the country, claiming they are causing uncertainty in the global semiconductor industry. According to Reuters on the 1st (local time), He Yadong, a spokesman for the Chinese Ministry of Commerce, […]
U.S. and Japan Forge Alliance to Tackle China's Semiconductor SupremacyUpcoming Summit to Confirm CooperationPlans to Collaborate with G7 and Others The United States and Japan are set to bolster their semiconductor alliance against China, expanding the front to include general-purpose semiconductors. According to Yomiuri Shimbun, on the 2nd, the United States and Japan reached an agreement to reinforce their cooperation in establishing a semiconductor […]
Trump Dodges Financial Fallout: Pays $175 Million to Save AssetsReuters reported on the 1st (local time) that former U.S. President Donald Trump has posted a $175 million bond in the New York civil fraud case, preventing the seizure of his assets. On February 16th, Justice Arthur Engoron of the New York Manhattan District Court imposed a fine of $454 million, including interest, against Trump […]
Russia's Baltika Slaps Carlsberg Subsidiaries with $900 Million Damage ClaimBaltika and Carlsberg of Russia are currently in a dispute over licensing issues. On the 1st (local time), a Russian court revealed that Baltika Brewery in Russia had claimed damages equivalent to 6.24 billion Danish crowns ($897 million) from four Carlsberg subsidiaries. After Moscow seized and took over Baltika, a subsidiary of Carlsberg in Russia, […]
China's AI Talent is Overtaking the US: Global AI Development Trends Will Be DividedThe race for supremacy in artificial intelligence (AI), led by U.S. tech giants, is being fiercely pursued by China. Despite a gap of over a year in the development of massive AI due to U.S. sanctions on AI semiconductor exports, China is fighting back with a quantity offensive based on its large population. Although most […]
Xiaomi Sparks Electric Car Price War in ChinaXiaomi’s electric vehicle SU7 priced at around $33,000Price reduction for Nio’s luxury SUV after announcementXiaopeng lowered the price of P7i’s top model The Chinese electric vehicle market has plunged into a full-scale price war. Starting with Xiaomi, competing brands are reducing prices one after another. On the 31st, Yonhap News reported, citing Chinese economic media […]
Tensions Escalate in South China Sea DisputeChinese coast guard fires water cannons at Filipino supply ship on March 23rdTripartite summit scheduled for next month with participation of U.S., Japan, and Philippines Amid escalating tensions with China in the South China Sea, a region marred by territorial sovereignty disputes, the Philippines has called for enhanced maritime security measures from its authorities. According […]
Canada Tightens Review of Foreign Investment in AI and Quantum Computing [TheGuru=Sungil Hong] The Canadian government is strengthening its review of foreign capital investments. The move is being analyzed as a step in line with the United States' efforts to curb China. According to industry reports on the 31st, the Canadian government has decided to conduct a strict review of foreign investment proposals in sensitive sectors. The Canadian government released a statement to that effect on Sept. 26 (local time). The move is in response to the recent amendments to the Investment Canada Act. The revised Investment Canada Act requires foreign companies that want to acquire companies in sensitive sectors to notify the Canadian government before the deal is finalized. The sensitive sectors identified by the Canadian government include artificial intelligence (AI), quantum computing, and space technology. Under the enhanced measures, the Canadian government can restrict access to foreign investors seeking to acquire companies in these sectors during the review period. Even if the acquisition is finalized, investors may not have access to the acquired company's data and assets. China has been blamed for the Canadian government's tightening of the review process, which had been open to foreign investment. In fact, last year, the Canadian government ordered Chinese investors to divest their stakes in three lithium companies. Industry analysts believe that Canada is following in the footsteps of the United States, which is wary of China's growing influence. The Canadian government has also mentioned the possibility of expanding the scope of the regulation to other sectors in the future, so the scope of the regulation will be closely watched...
U.S., Japan, and South Korea Discuss Joint Response to North Korean Cyber Activities at Washington SummitDiplomats from South Korea, the United States, and Japan gathered in Washington D.C. to discuss joint responses to issues directly linked to North Korea’s nuclear weapons development funds, such as virtual asset hacking. According to a report by Yonhap News on the 30th, the three countries held the Second United States-Japan-Republic of Korea Trilateral Diplomatic Working […]
Xinhua Denies Speculations of Foreign Investment Decline in China [TheGuru=Hong Seong-hwan] China's state-run Xinhua News Agency has refuted speculation that foreign companies are pulling out of China. According to the Korea Institute for Foreign Economic Policy, Xinhua refuted the pullout theory in a commentary on Nov. 21, citing the increasing number of stores in China by large food and beverage companies such as KFC, McDonald's, and Starbucks, Apple's announcement of plans to invest more in the country, GE Healthcare's doubling of R&D investment in China, and AstraZeneca's announcement of a $475 million investment plan. "Foreign capital shows that China is still a fertile ground for foreign investment and business," Xinhua said, "proving that the exaggerated claims by some Western media that there are no more opportunities in the Chinese market are not true." "The State Council issued the 'Action Plan for Expanding the Attraction and Utilization of Foreign Capital through Higher Openness to the World' to expand the market access of foreign capital and increase the degree of freedom for foreign investment, demonstrating China's willingness and action to share development opportunities with the world," Xinhua said. According to the "International Balance of Payments for 2023" released by the State Administration of Foreign Exchange on March 18, foreign direct investment in China totaled $30 billion last year. That's down 82 percent from the previous year. The $27.5 billion was the lowest level since 1993, when it was recorded, Bloomberg analyzed. It's less than a tenth of the $344.1 billion in 2021, when it peaked...
Yellen Warns of Global Economic Threat from China's Overproduction U.S. Treasury Secretary Janet Yellen has started her visit to China, raising concerns about the overproduction capacity of Chinese manufacturing. According to Bloomberg News, on the 5th, Secretary Yellen arrived in Guangzhou, southern China, the previous afternoon. This is her first visit to China in seven months since July last year. During her visit, which […]
Biden's Ultimatum to Israel: Protect Civilians or Risk U.S. Backing Biden talks with Israeli Prime Minister Netanyahu“Decision to support depends on civilian protection policies”Possible policy shift from unilateral supportRepeatedly emphasizes the need for a ceasefire U.S. President Joe Biden has mentioned the possibility of a change in policy towards Israel. It is a warning that support could be withdrawn if measures to protect civilians are […]
CrowdStrike Soars High in IT Security Sector CrowdStrike (CRWD) has been named a “Top Pick” in the global IT security center. CrowdStrike has expanded its market share with an integrated endpoint security solution named Falcon. Falcon, a first-of-its-kind single platform, single console (interface) security solution, is praised for its ability to solve the complexities and operational difficulties at a time when businesses […]
Second Korean War Looms: Kim Jong Un's Aggression Could Spell Disaster North Korea is unlikely to hold an advantageous position in any preemptive strikeConcerns over the destructive impact on the global economy and semiconductor supply chain Amid speculations of a potential second Korean War on the Korean Peninsula, Bloomberg reported on the 3rd that Kim Jong Un would likely face destruction in most Korean War scenarios. […]
Yellen Flags Concerns Over China's Overproduction Amid Tariff Speculation Remarks on China’s overproduction and mentioning of measuresYellen keeps silent on potential additional tariffs U.S. Treasury Secretary Janet Yellen disclosed that additional protective measures against China were being considered before she visited the country. According to Axios, a U.S. online media outlet, Yellen made these remarks in Anchorage before departing for China on the 3rd […]
Swiss Banking Giant UBS to Buy Back $20 Billion of Its Shares Swiss bank UBS has announced a buyback of its shares. On the 2nd (local time), UBS announced that it would start a new buyback program of up to $2 billion and plans to complete up to half by 2024. UBS revealed that it had already bought back nearly 1.2 billion Swiss francs ($1.32 billion) worth […]
Forbes' Newest Billionaire: Taylor Swift's Music Makes History Pop icon Taylor Swift reaches billionaire status, as reported by Forbes. Forbes released a list titled New Billionaires 2024 on April 2. Forbes reports a record-breaking year for billionaires, with 2,781 individuals and a combined wealth of $14.2 trillion. This year’s Forbes list sees a significant jump in newcomers, with 265 joining the ranks compared […]
Tick Tock on the Moon: U.S. to Develop Lunar Standard Time White House orders NASA to establish standard timeAdvancing exploration and excavation with lunar standard timeWhite House: “Need a talk with nations of Artemis Accords” As the race for moon exploration among space development superpowers accelerates, the U.S. is set to establish a lunar standard time. With the introduction of the standard time, all figures, standards, […]
Japan's Defense Export Revolution: A Game Changer in Global Politics? - Part 4 Competition between Korea and Japan in the fighter jet market is Inevitable The greatest concern for the South Korean defense industry is Japan’s move to export fighter jets. Japan, jointly developing next-generation fighter jets with the UK and Italy for deployment in the 2030s, has even revised its laws to facilitate sales. The Fumio Kishida […]
China Blasts U.S. Export Restrictions, Global Industry on Edge U.S. Announces Revised Export Regulations on January 29“Serious Impact on Cooperation between China and Foreign Companies” China has criticized the U.S.’s semiconductor export regulations towards the country, claiming they are causing uncertainty in the global semiconductor industry. According to Reuters on the 1st (local time), He Yadong, a spokesman for the Chinese Ministry of Commerce, […]
U.S. and Japan Forge Alliance to Tackle China's Semiconductor Supremacy Upcoming Summit to Confirm CooperationPlans to Collaborate with G7 and Others The United States and Japan are set to bolster their semiconductor alliance against China, expanding the front to include general-purpose semiconductors. According to Yomiuri Shimbun, on the 2nd, the United States and Japan reached an agreement to reinforce their cooperation in establishing a semiconductor […]
Trump Dodges Financial Fallout: Pays $175 Million to Save Assets Reuters reported on the 1st (local time) that former U.S. President Donald Trump has posted a $175 million bond in the New York civil fraud case, preventing the seizure of his assets. On February 16th, Justice Arthur Engoron of the New York Manhattan District Court imposed a fine of $454 million, including interest, against Trump […]
Russia's Baltika Slaps Carlsberg Subsidiaries with $900 Million Damage Claim Baltika and Carlsberg of Russia are currently in a dispute over licensing issues. On the 1st (local time), a Russian court revealed that Baltika Brewery in Russia had claimed damages equivalent to 6.24 billion Danish crowns ($897 million) from four Carlsberg subsidiaries. After Moscow seized and took over Baltika, a subsidiary of Carlsberg in Russia, […]
China's AI Talent is Overtaking the US: Global AI Development Trends Will Be Divided The race for supremacy in artificial intelligence (AI), led by U.S. tech giants, is being fiercely pursued by China. Despite a gap of over a year in the development of massive AI due to U.S. sanctions on AI semiconductor exports, China is fighting back with a quantity offensive based on its large population. Although most […]
Xiaomi Sparks Electric Car Price War in China Xiaomi’s electric vehicle SU7 priced at around $33,000Price reduction for Nio’s luxury SUV after announcementXiaopeng lowered the price of P7i’s top model The Chinese electric vehicle market has plunged into a full-scale price war. Starting with Xiaomi, competing brands are reducing prices one after another. On the 31st, Yonhap News reported, citing Chinese economic media […]
Tensions Escalate in South China Sea Dispute Chinese coast guard fires water cannons at Filipino supply ship on March 23rdTripartite summit scheduled for next month with participation of U.S., Japan, and Philippines Amid escalating tensions with China in the South China Sea, a region marred by territorial sovereignty disputes, the Philippines has called for enhanced maritime security measures from its authorities. According […]
Canada Tightens Review of Foreign Investment in AI and Quantum Computing [TheGuru=Sungil Hong] The Canadian government is strengthening its review of foreign capital investments. The move is being analyzed as a step in line with the United States' efforts to curb China. According to industry reports on the 31st, the Canadian government has decided to conduct a strict review of foreign investment proposals in sensitive sectors. The Canadian government released a statement to that effect on Sept. 26 (local time). The move is in response to the recent amendments to the Investment Canada Act. The revised Investment Canada Act requires foreign companies that want to acquire companies in sensitive sectors to notify the Canadian government before the deal is finalized. The sensitive sectors identified by the Canadian government include artificial intelligence (AI), quantum computing, and space technology. Under the enhanced measures, the Canadian government can restrict access to foreign investors seeking to acquire companies in these sectors during the review period. Even if the acquisition is finalized, investors may not have access to the acquired company's data and assets. China has been blamed for the Canadian government's tightening of the review process, which had been open to foreign investment. In fact, last year, the Canadian government ordered Chinese investors to divest their stakes in three lithium companies. Industry analysts believe that Canada is following in the footsteps of the United States, which is wary of China's growing influence. The Canadian government has also mentioned the possibility of expanding the scope of the regulation to other sectors in the future, so the scope of the regulation will be closely watched...
U.S., Japan, and South Korea Discuss Joint Response to North Korean Cyber Activities at Washington Summit Diplomats from South Korea, the United States, and Japan gathered in Washington D.C. to discuss joint responses to issues directly linked to North Korea’s nuclear weapons development funds, such as virtual asset hacking. According to a report by Yonhap News on the 30th, the three countries held the Second United States-Japan-Republic of Korea Trilateral Diplomatic Working […]
Xinhua Denies Speculations of Foreign Investment Decline in China [TheGuru=Hong Seong-hwan] China's state-run Xinhua News Agency has refuted speculation that foreign companies are pulling out of China. According to the Korea Institute for Foreign Economic Policy, Xinhua refuted the pullout theory in a commentary on Nov. 21, citing the increasing number of stores in China by large food and beverage companies such as KFC, McDonald's, and Starbucks, Apple's announcement of plans to invest more in the country, GE Healthcare's doubling of R&D investment in China, and AstraZeneca's announcement of a $475 million investment plan. "Foreign capital shows that China is still a fertile ground for foreign investment and business," Xinhua said, "proving that the exaggerated claims by some Western media that there are no more opportunities in the Chinese market are not true." "The State Council issued the 'Action Plan for Expanding the Attraction and Utilization of Foreign Capital through Higher Openness to the World' to expand the market access of foreign capital and increase the degree of freedom for foreign investment, demonstrating China's willingness and action to share development opportunities with the world," Xinhua said. According to the "International Balance of Payments for 2023" released by the State Administration of Foreign Exchange on March 18, foreign direct investment in China totaled $30 billion last year. That's down 82 percent from the previous year. The $27.5 billion was the lowest level since 1993, when it was recorded, Bloomberg analyzed. It's less than a tenth of the $344.1 billion in 2021, when it peaked...
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