A farmer who lost his wife, three children and his mother when a bomb was dropped on his Kachin state village earlier this week said the powerful explosion wiped out buildings up to one mile away and sounded like something “used in the world wars.” “Houses built by NGOs and the locals are now left with only iron pillars.” Maran Bauk Lar told Radio Free Asia. “This was a type of bomb that has never been used in Myanmar.” The explosion at the Mung Lai Hkyet internally displaced persons camp…
Day: October 13, 2023
When China’s military lagged behind US, it pursued an ‘assassin’s mace’ tactic. Smart weaponry and AI are changing that
But the concept of individual and specific weapons for use in asymmetrical warfare – in which one side is perceived to be far stronger than the other – may have fallen out of favour in Beijing, particularly since the Chinese military has developed more sophisticated mechanisms and logistics and in an era of smart armaments. As the People’s Liberation Army’s (PLA) technological ambition has grown, especially under current leader President Xi Jinping, Beijing is broadening its military technology focus to advances that can be used across different combat situations, such…
TikTok courier slashes $1bn Hong Kong IPO target on weak investor demand
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The $1bn initial public offering from a Chinese start-up that was set to be Hong Kong’s biggest listing this year has been halved, reflecting investors’ aversion to share offers in China after years of underperformance. J&T Express, a delivery company with operations in south-east Asia and China, was forced to lower the fundraising target due to lacklustre investor response, according to three people familiar with the matter. The downsized listing…
China defends Africa investments in run-up to belt and road forum
China’s investment in Africa does not “change the rules” of development finance, according to a report released ahead of next week’s third Belt and Road Forum for International Cooperation – but Beijing has conceded the continent has a debt problem that cannot be ignored. Its sovereign loans to Africa totalled around US$160 billion between 2000 and 2020, two-thirds of which were made after Beijing’s Belt and Road Initiative was rolled out in 2013, according to a report published by Peking University on Thursday. “China’s financing policy goals for Africa are…
Uyghur News Recap: Oct. 6-13, 2023
WASHINGTON — Uyghur Forced Labor in China’s Seafood Industry The Chinese government forcibly sends Uyghurs to work in various industries, including seafood processing for export, as part of its control and assimilation efforts, according to a report in The New Yorker, published in collaboration with the Outlaw Ocean Project. Despite the U.S. passing the Uyghur Forced Labor Prevention Act, the seafood industry’s use of Uyghur labor remains largely unnoticed, with Uyghurs working in factories in Shandong Province. Uyghur Academic Awarded 2023 PEN Writer of Courage Rahile Dawut, a prominent Uyghur…
New Zealanders Vote in General Election; Polls: ‘Conservative Change’ Favored
AUCKLAND, New Zealand — New Zealanders began voting Saturday in a general election, with opinion polls indicating they favor a conservative change after six years of a liberal government led for most of that time by Jacinda Ardern. Ardern unexpectedly stepped down in January, saying she no longer had “enough in the tank” to do the job justice. She won the last election in a landslide, but her popularity waned as people tired of COVID-19 restrictions and inflation threatened the economy. Her departure left Chris Hipkins, 45, to take over…
China Exploits Israel-Hamas Conflict to Diminish US Global Influence
WASHINGTON — Beijing is likely to use the Israel-Hamas war to try to diminish Washington’s global influence while boosting its own, said analysts. China has been bitterly attacking the U.S. on its state media over the conflict raging in the Middle East, saying Washington’s one-sided military support for Israel is fueling tensions and increasing the humanitarian crisis in the region. “If Washington really wants to mediate the crisis, it should sit both sides down for negotiations, instead of sending warships to the Middle East to boost Israel’s morale,” said a…
China inflation: 4 takeaways from September’s data as consumer prices remained flat
“China’s headline CPI edged down to 0 per cent growth as lower food prices outweighed higher oil prices and was a touch softer-than-expected,” economists at HSBC said. Within CPI, overall food prices dropped by 3.2 per cent year on year last month, while pork prices – which have a high weighting in China’s CPI basket – fell by 22 per cent, compared to a fall of 17.9 per cent in August. “CPI inflation at zero indicates the deflationary pressure in China is still a real risk to the economy,” said…
EV wars: US start-up Fisker hopes to crack Chinese market with Ocean SUV, a potential rival to Tesla’s Model Y
American EV start-up Fisker plans to open a retail outlet in Shanghai, its first in mainland China, as early as December, joining a fray of foreign and domestic carmakers vying to take on Tesla in the world’s largest electric car market. The company, founded by Danish car designer Henrik Fisker, said in a statement on Thursday that the “Fisker Lounge” showroom will be located on downtown Taicang Road, and the all-electric Ocean sport-utility vehicle (SUV) – a potential rival to Tesla’s bestselling Model Y – will be available in China…
China’s new party finance organ gets to work while concerns over stability loom
China’s newly chartered Central Finance Commission started daily operations in late September – an indication of the severity with which the world’s second-largest economy is viewing a property crisis and its potential spillover effects on the state-controlled financial system, according to a source with knowledge of the matter. The commission was set up in March as part of a sweeping plan of institutional overhaul, granting the Communist Party more control in key domains like finance and tech. It is under the direct supervision of the party’s top decision-making body, the…