US President Joe Biden formally introduced the Indo-Pacific Economic Framework, or IPEF, this week during his first Asia tour, revealing Washington’s long-awaited Asia-Pacific economic strategy. It comes five years after the US unilaterally withdrew from the Trans-Pacific Partnership, a trade deal signed by 12 countries in Asia-Pacific, North America and South America. With the US … Read more
BEIJING – The central Chinese government in Beijing would only use force as the “last resort” for Taiwan reunification, said a retired officer of the People’s Liberation Army. “The Chinese PLA is getting stronger and stronger, and we have geographical proximity,” said Zhou Bo, now a senior fellow at Tsinghua University’s Center for International Strategy … Read more
Australian Prime Minister Anthony Albanese, US President Joe Biden, Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida arrive for the Quad Leaders’ Summit in Tokyo on May 24. Saul Loeb | Afp | Getty Images TOKYO – Security deals are important, but in Asia, money talks. Australia, India, Japan and the United … Read more
Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images BEIJING – Chinese real estate defaults have increased so much that Goldman Sachs analysts have shifted to their worst-case scenario for the riskiest part of the market. Twenty-two China high-yield … Read more
As Shanghai tries to reopen businesses, one downtown district over the weekend banned residents from leaving their apartment complexes again for mass virus testing. Pictured here, in another district on May 21, 2022, is a line outside a shopping mall. Xu Kaikia | Visual China Group | Getty Images BEIJING – China’s economy will not … Read more
Anthony Albanese, leader of the Labor Party, during a ceremony at the Government House in Canberra, Australia, on Monday, May 23, 2022. Albanese, was sworn in as the country’s 31st prime minister on Monday, promising to bring the country together after a fractious election campaign as he vowed to tackle climate change and inequality. Brendon … Read more
Australians will be voting for a new prime minister on Saturday. Opinion polls so far show that the race is too close to call, but whoever wins will have to grapple with hot-button issues like the rising costs of living and increased borrowing costs after the country raised rates for the first time in more … Read more
Signage for Tencent Holdings atop an office building in Shanghai, China, on March 22, 2022. China’s Tencent reported on Wednesday its quarterly profit halved from a year ago and revenues stagnated, blaming cuts in advertising spending by consumer, e-commerce and travel businesses for its worst performance since it went public in 2004. Qilai Shen | … Read more
Since March, mainland China has struggled to contain its worst Covid outbreak in two years. Notably, the metropolis of Shanghai, pictured here on May 18, only started this week to begin discussing resumption of normal activity – with a goal of mid-June. Hector Retamal | Afp | Getty Images BEIJING – Goldman Sachs analysts on … Read more
By September 2021, China made up just over 22% of the total bitcoin mining market, according to Cambridge University research. Paul Ratje | The Washington Post | Getty Images Bitcoin miners aren’t giving up in China despite Beijing’s ban on the practice. China was once the world’s largest crypto mining hub, accounting for between 65% … Read more