Month: March 2022

The Global Race to Mine the Metal of the Future

Chin@Strategy

Dionne Searcey contributed reporting. The Daily is made by Lisa Tobin, Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Larissa Anderson, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Dave Shaw, Sydney Harper, Robert Jimison, Mike Benoist, Liz O. Baylen, Asthaa Chaturvedi, Kaitlin Roberts, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Anita Badejo, Rob Szypko, Elisheba Ittoop, Chelsea Daniel, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky…

China’s decisive turning point: will it side with Russia and divide the world?

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Joe Biden is due to make a phone call to Xi Jinping on Friday at a potential tipping point in China’s role in the world as it decides how far to go in backing Russia’s war on Ukraine. While China has abstained on United Nations security council resolutions on the invasion, it has sided with Moscow rhetorically, echoing Russian talking points blaming Nato, and recycling conspiracy theories, and the Biden administration believes it has already decided to bail Russia out economically. At a meeting in Rome on Monday between the…

Biden Will Punish China if It Gives Military Aid to Russia, Blinken Says

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WASHINGTON — Secretary of State Antony J. Blinken said on Thursday that the United States would punish China if President Xi Jinping chose to give military aid to Russia for the war in Ukraine, where Russian forces have killed thousands of civilians. “We’re concerned that they’re considering directly assisting Russia with military equipment to use in Ukraine,” Mr. Blinken said at a news conference in Washington. “President Biden will be speaking to President Xi tomorrow and will make clear that China will bear responsibility for any actions it takes to…

Why Do Many Chinese Sympathize With Russia in the Ukraine Conflict?

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Advertisement The conflict between Russia and Ukraine has caused a cyber war among Chinese netizens. In polls on several Chinese websites, generally about 40 percent of Chinese people remain neutral, about 30 percent support Russia, and about 20 percent support Ukraine. These sentiments reflect the social basis for the Chinese government’s abstention in the U.N. General Assembly vote on a resolution condemning Russia. Those Chinese who support Ukraine, and see Russia as an invader, have strong legal reasons to do so. They recognize Ukraine as a sovereign state, and that…

Federal Reserve Walks a Tightrope Between Inflation and Recession

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In an interview, James D. Hamilton, professor of economics at the University of California, San Diego, and a leading expert on the economic effects of oil shocks, said they had “made major contributions to recessions over many decades.” At current oil price and supply levels, the effects of the Russian war “are fairly manageable for the American economy.” But Professor Hamilton pointed out that Russia’s oil, which amounts to about 10 percent of world production, could not be easily replaced if totally cut off — an outcome that he does…

What Doomed China’s Much-Anticipated Property Market Reform Plan?

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Advertisement The 2022 National People’s Congress surprised many China observers – not because of what happened, but because of what did not happen. The Chinese government failed to approve a property tax. The Government Work Report did not even mention property market reform. After the real estate sector’s structural crisis in 2021, reforming the property market seems inevitable, and implementing a property tax is the first step toward property market reform. In an essay in Qiushi, the official theoretical journal of the Chinese Communist Party, top leader Xi Jinping singled…

China property shares soar on Beijing stimulus, despite continued debt crisis

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Chinese property shares have soared for a second day thanks to a decision by Beijing’s leadership to throw the country’s struggling real estate sector a lifeline amid growing pressures at home and abroad. Despite a downgrade for China’s third-biggest property developer Sunac on Thursday, stocks in the sector lifted again in Hong Kong and the mainland thanks to an announcement by vice premier Liu He, China’s economic tsar, on Wednesday that the government needed to reduce risks in the industry. In a sign of the heightened concern inside China’s Communist…

China mobilises to control latest Covid outbreak – in pictures

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Country steps up efforts to control a surge in coronavirus cases as it tries to maintain its zero Covid policy. Major cities such as Shenzhen and Changchun have been locked down as Covid cases hit a two-year high. Nearly 90% of new infections are in Jilin province, while tens of millions of people across the country remain confined to their homes The Guardian

Exports to Russia Blocked by U.S. and Its Allies

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WASHINGTON — The United States, in partnership with its allies, has hit Russia with some of the most sweeping export restrictions ever imposed, barring companies across the world from sending advanced technology in order to penalize President Vladimir V. Putin for his invasion of Ukraine. The restrictions are aimed at cutting off the flow of semiconductors, aircraft components and other technologies that are crucial to Russia’s defense, maritime and aerospace industries, in a bid to cripple Mr. Putin’s ability to wage war. But the extent to which the measures hinder…

How close are China and Russia and where does Beijing stand on Ukraine?

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How close are China and Russia? Under the rule of Xi Jinping and Vladimir Putin China and Russia have becoming increasingly isolated from the west – and closer to each other. Russia’s invasion of Ukraine came just days after Xi and Putin cemented a significant partnership on the sidelines of the Beijing Winter Olympics – the first in-person, bilateral meeting Xi had attended since the pandemic began. A joint statement from the two leaders said the bonds between the two countries had “no limits” and there were “no ‘forbidden’ areas…