China
Goyal pushes for resilient supply chains at G7 meeting in Osaka
Goyal said that the Covid-19 pandemic and the geopolitical events highlighted the vulnerabilities of the existing supply chains leading to an increase in commodity prices and global inflation.
China kicks off probe into iPhone maker Foxconn: State media
According to a report in state-run media the Global Times, Chinese tax authorities have conducted inspections on key enterprises of Foxconn (Hon Hai Technology Group) in Guangdong and Jiangsu provinces, among other places. “The natural resources department has also conducted on-site investigations into the land use of key enterprises of Foxconn in Henan and Hubei provinces," the report said late on Sunday, citing sources.
China’s chip imports drop 15% as US tightens tech export controls
China imported 355.9 billion units of integrated circuits (ICs) from January to September, down from 416.7 billion in the same period last year, according to data published by the General Administration of Customs, reports South China Morning Post. The total value of IC imports fell 19.8 per cent to $252.9 billion.
China agrees on long delayed restructure of $4.2bn debt to SL
The agreement with the largest single creditor is to help clear one of the biggest barriers the debt-stricken island nation had been facing with regard to engaging in the ongoing IMF bailout process.
China’s economy could be regaining momentum after major slowdown
China’s official manufacturing purchasing managers’ index (PMI) rose to 50.2 from 49.7 in August, the first time it has indicated expansion since March, according to the National Bureau of Statistics, CNN reported.
China's Evergrande chairman put under police surveillance for illegal crimes
Evergrande said its shares would remain suspended until further notice, the BBC reported. It marks another low for the heavily indebted property giant which defaulted in 2021, triggering China's current real estate market crisis, the BBC reported. In August, it filed for bankruptcy in the US in a bid to protect its American assets as it worked on a deal.
China woos top Western companies as foreign investment slumps
Pan Gongsheng, the Governor of People’s Bank of China (PBC) and head of the country’s foreign exchange regulator, chaired a symposium with the representatives from foreign companies, including JP Morgan, Tesla, HSBC, Deutsche Bank, BNP Paribas, Japan’s MUFG Bank, German chemical producer BASF, commodities trader Trafigura and Schneider Electric, according to a post on the websites of the PBC and the State Administration of Foreign Exchange (SAFE), CNN reported.
China-Pak Economic Corridor the cause of India's opposition to BRI
Though it managed to garner a lot of support from many central Asian and even European nations (like Italy), who saw a potential of boosting their trade in Asia through it, India has been a long standing opponent of the project.
Countering China: How the India-Middle East-Europe Corridor will work
In a significant development which could have far reaching geopolitical ramifications, the India–Middle East–Europe Economic Corridor (IMEC) was announced at the recently concluded G20 Summit in New Delhi.
Belt & Road of Debt: How China's BRI turns partner nations into debtors
After Sri Lanka fell behind on payments for its troubled Hambantota port project in 2017, China obtained a 99-year lease on the property as part of a deal to renegotiate the debt, wrote Michael Bennon and Francis Fukuyama in a recent article in Foreign Affairs.
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