Month: May 2023

China Declines US Request for a Meeting Between Defense Chiefs

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China has declined a request by the U.S. for a meeting between their defense chiefs at an annual security forum in Singapore this weekend, media reported on Monday, a new sign of strain between the powers. “Overnight, the PRC informed the U.S. that they have declined our early May invitation for Secretary Austin to meet with PRC Minister of National Defense Li Shangfu in Singapore,” the Pentagon said in a statement to the Wall Street Journal, referring to China by the initials of its official name, the People’s Republic of…

China’s Shenzhou-16 Mission Takes Off Bound for Space Station

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Jiuquan, China —  China sent three astronauts to its Tiangong space station on Tuesday, putting a civilian scientist into space for the first time as Beijing pursues plans to send a manned mission to the Moon by the end of the decade. The world’s second-largest economy has invested billions of dollars in its military-run space program in a push to catch up with the United States and Russia. The Shenzhou-16 crew took off atop a Long March 2F rocket from the Jiuquan Satellite Launch Center in northwest China at 9:31…

Taiwanese Election Drama is a Subversive Hit in China

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Taipei —  A new Netflix drama about Taiwanese campaign staffers has become an unlikely hit among members of China’s middle class, raising troubling questions for its fans about the differences between Chinese and Taiwanese society. Released in April, the eight-episode “Wave Makers” follows the drama of a fictional yearlong presidential campaign and how it impacts the personal lives of campaign employees, both at the top and bottom of the campaign ladder. The show touches on topics like the death penalty and same sex marriage in Taiwan as well as more…

3 Chinese Men Play at French Open; Country’s 1st Male Entrants in Paris Since 1937

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Paris —  For the first time since 1937, a Chinese man competed in the main draw of the French Open — and, actually, a total of three did, all playing opening-round matches on Monday. The first of the groundbreaking group in action on the red clay of the Grand Slam tournament at Roland Garros was Shang Juncheng, who made it into the field via qualifying and faced Juan Pablo Varillas of Peru on Court 5. With some Chinese flags waving in the stands and chants of support from spectators, Shang…

IAEA Team in Japan for Final Review Before Planned Discharge of Fukushima Nuclear Plant Water

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Tokyo —  An International Atomic Energy Agency team arrived in Tokyo on Monday for a final review before Japan begins releasing massive amounts of treated radioactive water into the sea from the wrecked Fukushima nuclear plant, a plan that has been strongly opposed by local fishing communities and neighboring countries. The team, which includes experts from 11 countries, will meet with officials from the government and the plant operator, Tokyo Electric Power Company Holdings, and visit the Fukushima Daiichi nuclear power plant during their five-day visit, the economy and industry…

The billionaire whose electrode empire powers China’s EV dominance

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A self-made Chinese billionaire with a fascination for metallurgy is posing a fundamental challenge to a traditional auto industry already struggling to compete with China in the development of electric vehicles and batteries. Bai Houshan, the 59-year-old founder and chair of Shanghai-listed Ronbay Technology, dominates a key part of the global market for cathode electrodes, which are core building blocks in EV batteries and account for 30 to 50 per cent of component costs. With battery chemistries and components constantly evolving in the search for lower material costs and higher…

Bai Houshan deepens China’s EV dominance with his electrode empire

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A self-made Chinese billionaire with a fascination for metallurgy is posing a fundamental challenge to a traditional auto industry already struggling to compete with China in the development of electric vehicles and batteries. Bai Houshan, the 59-year-old founder and chair of Shanghai-listed Ronbay Technology, dominates a key part of the global market for cathode electrodes, which are core building blocks in EV batteries and account for 30 to 50 per cent of component costs. With battery chemistries and components constantly evolving in the search for lower material costs and higher…

China’s three ‘grey rhinos’ – demographic crisis, debt and decoupling – are growing, threatening economic growth

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But the argument is false because a rapidly ageing population is not a dividend. In fact, the demographic shift has already started to erode China’s growth momentum, and the problem will only get worse in the foreseeable future. The second grey rhino – China’s debts, in particular local government debts – has been in view for years, and authorities have been trying to de-leverage for a long time. Although China has successfully avoided a debt crisis so far, room to muddle through this issue is shrinking fast. Advertisement It is…

China turns down US invitation for defence chiefs meeting in Singapore

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Beijing has declined the Pentagon’s request for a meeting between US defence secretary Lloyd Austin and China’s defence minister Li Shangfu at a security forum in Singapore in June, the latest sign of the difficulties the countries are having trying to stabilise their turbulent relationship. The overture had been made for a meeting to take place at the Shangri-La Dialogue, an Asia security event hosted annually by the International Institute for Strategic Studies. “The People’s Republic of China informed the US that they have declined our early May invitation,” the…

Chinese companies still keen on US but face higher hurdles

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When Pin Ni arrived in Washington, he mentioned to his taxi driver how cold it felt. The driver told him that it wasn’t the temperature, but the wind that made it feel so chilly. Ni, president of Wanxiang America and vice chair of the China General Chamber of Commerce (CGCC) USA, drew a parallel between the blustery weather in the US capital and worsening Washington-Beijing relations. “That’s interesting for our business. The temperature is still there, the business logic is still there, and the business opportunities are still there,” Ni…