Month: March 2024

Janet Yellen set to warn China against clean energy dumping

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Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. US Treasury secretary Janet Yellen plans to warn China not to flood the world with cheap clean energy exports, saying they would distort global markets and harm workers. Yellen was due to deliver her message to Beijing from a solar energy manufacturer in Georgia on Wednesday, just days before her second trip to China as Treasury secretary. The comments reflect continued concern in the Biden administration about China’s trade practices,…

Taiwan’s Kinmen Island: On the front lines of tension with China

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Taiwan’s tiny Kinmen island, just six kilometers (four miles) off the coast of mainland China, has become a focal point of fishing and territorial disputes, much to the chagrin of island residents who just want to earn a living in peace. Tensions have risen following the deaths of two Chinese men when their speed boat capsized after evading inspection by Taiwan’s Coast Guard on Feb. 14 in waters that Taiwan says are restricted around the island, but which Chinese fishermen have increasingly plied. The incident prompted strongly worded protests from…

China Says ‘Deeply Rooted’ Ties with Pakistan Unaffected by Terror Attack

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ISLAMABAD —  China said Wednesday it had asked Pakistan to “speed up the hunt” for those behind the previous day’s terrorist attack that killed five Chinese workers and their local driver. The foreign ministry spokesman told a news conference in Beijing that both countries were working closely to ensure “effective steps” were taken to protect the safety and security of Chinese personnel in Pakistan. Lin Jian said that Islamabad “promised to thoroughly investigate the incident, provide timely updates on the progress of the investigation, (and) strengthen security measures for Chinese…

Chinese doctor bewails vanishing obstetrics wards as births plummet

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A prominent Chinese obstetrician has taken to social media to lament the closure of obstetrics departments in Chinese hospitals, prompting social media comments that the ruling Chinese Communist Party needs to make life better for young people if it wants to reverse falling birth rates. “Save obstetrics!” wrote Duan Tao, obstetrician at the Shanghai No. 1 Maternal and Infant Health Hospital, in the title of his post to the social media platform Weibo at the end of last month, following a meeting of obstetrics department heads in Shanghai’s Pudong New…

A.I. Leaders Press Advantage With Congress as China Tensions Rise

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In recent weeks, American lawmakers have moved to ban the Chinese-owned app TikTok. President Biden reinforced his commitment to overcome China’s rise in tech. And the Chinese government added chips from Intel and AMD to a blacklist of imports. Now, as the tech and economic cold war between the United States and China accelerates, Silicon Valley’s leaders are capitalizing on the strife with a lobbying push for their interests in another promising field of technology: artificial intelligence. On May 1, more than 100 tech chiefs and investors, including Alex Karp,…

Chinese President Xi Meets With US Executives as Investment Wanes

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BEIJING —  China’s President Xi Jinping met American business leaders at the Great Hall of the People in Beijing on Wednesday, as the government tries to woo back foreign investors and international firms seeking reassurance about the impact of new regulations. Beijing wants to boost growth of the world’s second-largest economy after foreign direct investment shrank 8% in 2023 amid heightened investor concern over an anti-espionage law, exit bans, and raids on consultancies and due diligence firms. Xi’s increasing focus on national security has left many companies uncertain where they…

US Treasury Secretary Janet Yellen to press China on green energy spending, subsidies that distort global market

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American concerns over China’s green energy spending binge will likely dominate the high-level talks between the two global powers in Beijing early next month. Citing excess capacity in industries like solar, electric vehicles and lithium-ion batteries because of huge government subsidies, the problem will be “a key issue” in discussions with senior Chinese officials during her second trip to China in a year, US Treasury Secretary Janet Yellen will say in a speech on Wednesday afternoon. “I will convey my belief that excess capacity poses risks not only to American…

Xi Jinping tells US delegation China’s economy is ‘sound and sustainable’

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“China’s reform will not stop and its opening up will not stop,” the Chinese leader said, according to a report on state broadcaster CCTV. “China is planning and implementing a series of major steps for comprehensively deepening reform, and steadily fostering a market-oriented, law-based and world-class business environment. This will create broader room for development for US and other foreign businesses.” Beijing is trying to rebuild business confidence in China amid an economic downturn. Photo: Xinhua The meeting was held at the end of the annual China Development Forum in…

Taiwan’s VP-Elect Reaffirms Ties With Europe in Diplomatic Tour

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Taipei, Taiwan —  Taiwanese Vice President-elect Hsiao Bi-khim wrapped up a whirlwind diplomatic tour to Europe last week, triggering Beijing as she made stops in three countries and Brussels and met with dozens of politicians. Analysts and some who attended the meetings say the trip was an example of the type of high-level engagement Hsiao wants to continue after being officially sworn into office in May along with President-elect Lai Ching-te. Hsiao met with parliamentary leaders in the Czech Republic, Poland and Lithuania. She also engaged with more than 30…

Chinese Leader to Dutch PM: Restricting Technology Access Won’t Stop China’s Advance

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BEIJING —  Chinese leader Xi Jinping told visiting Dutch Prime Minister Mark Rutte on Wednesday that attempts to restrict China’s access to technology will not stop the country’s advance. The Netherlands imposed export licensing requirements in 2023 on the sale of machinery that can make advanced processor chips. The move came after the United States blocked Chinese access to advanced chips and the equipment to make them, citing security concerns, and urged its allies to follow suit. An online report from state broadcaster CCTV did not mention the chip machinery,…