Copper, the metal that underpins the fast-growing renewable energy industry, is on course for its biggest annual price rise in more than 15 years as traders react to fears of global shortages. As one of the main beneficiaries of the “electrification of everything”, copper has soared by more than 35% in value this year, spurred by US tariff uncertainty and concerns about mining disasters that could restrict supply. Analysts said copper had also joined silver and gold as a safe haven asset for investors wanting to hedge against the falling…
Month: December 2025
PLA holds Taiwan drills, China powers up record ‘air battery’: SCMP daily highlights
Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. PLA holds drills around Taiwan in warning to ‘separatists’ after US arms deal The large-scale drills are being conducted by the PLA’s Eastern Theatre Command. Photo: AFP The People’s Liberation Army kicked off drills around Taiwan on Monday that it called “legitimate and necessary” to safeguard national unity, soon after Washington approved the largest-ever arms sale to Taiwan. 2. Cambodia and Thailand agree to…
Taiwan’s leader seeks T-Dome ‘connectivity’ network to defend against Beijing attack
Taiwan is seeking to fuse satellite, radar and drone data into a “connectivity” network as part of Taiwanese leader William Lai Ching-te’s multibillion-dollar bid to build a layered defence shield to counter Beijing’s possible missile attacks. The plan, which Lai calls the “Taiwan shield” and officials and analysts often refer to as the backbone of a broader “T-Dome” concept, is intended to overhaul how Taiwan detects, tracks and intercepts incoming threats. In a televised interview on Sunday,… South China Morning Post
China has logged a US$1 trillion trade surplus. Where is all that money going?
Recent data on China’s external accounts presents a conundrum: while the country’s trade surplus has broken records, surpassing the US$1 trillion benchmark in the first 11 months of the year, growth in its official foreign exchange reserves has lagged. This seeming paradox prompts a question – where did the money go? Analysts said the gap reflects how much of the surplus has flowed back overseas through asset investment, largely made by private-sector players, leaving China’s external accounts more balanced than the headline trade figures suggest. Han Shen Lin, capstone director…
China protests to Panama over destruction of memorial to Chinese labourers
The Chinese-Panamanian Friendship Park has reportedly been in need of repair and the demolition was deemed by Beijing as “hurting the broad interests of China-Panama friendship”. Chinese foreign ministry spokesman Lin Jian said on Monday that China was “seriously dissatisfied” with Arraijan authorities for the demolition of the park and its monument to Chinese migration. Advertisement According to the Chinese embassy in Panama, the Arraijan municipal government dismantled the monument late on December 27 without prior notice or consultation with Chinese community groups. In Beijing, Lin described the demolition as…
Cambodia and Thailand agree to resume exchanges after meeting with China
Cambodia and Thailand have agreed to consolidate their ceasefire and restore exchanges after trilateral talks held in China. The three sides had “in-depth exchanges on working step by step through mutual efforts to resume normal exchanges, rebuild political mutual trust, improve Cambodia-Thailand relations and safeguard regional stability”, according to Beijing’s foreign ministry. The ministry issued the statement following a meeting between Chinese Foreign Minister Wang Yi, his Thai counterpart Sihasak Phuangketkeow and Cambodian Foreign Minister Prak Sokhonn on Monday in Yuxi in southwestern China’s Yunnan province. China hosts trilateral talks…
China hits out at ‘support for separatist forces’ after Israel recognises Somaliland
China has criticised Israel’s decision to recognise Somaliland, a move that prompted strong criticism from neighbouring countries. China’s Ministry of Foreign Affairs warned that no country should “incite or support separatist forces” for “selfish interests”, characterising the territory as an “inseparable part” of Somalia. “China firmly supports Somalia’s sovereignty, unity and territorial integrity, and opposes any act of splitting Somali territory,” the ministry’s spokesman Lin Jian told a… South China Morning Post
Influx of cheap Chinese imports could drive down UK inflation, economists say
As Trump’s tariffs take effect, Britain is likely alternative destination for cars, telecoms and sound equipment Business live – latest updates The UK is poised for an influx of cheap Chinese imports that could bring down inflation amid the fallout from Donald Trump’s global trade war, leading economists have said. After figures showed China’s trade surplus surpassed $1tn (£750bn) despite Washington’s tariff policies hitting exports to the US, the Bank of England said the UK was among the nations emerging as alternative destinations for the goods. Continue reading… The Guardian
Chinese robot vacuum maker Dreame gives gifts of gold and trip to Antarctica to employees
Chinese household appliances maker Dreame Technology will present gifts of gold and a trip to Antarctica to employees, on top of their year-end bonuses, as the company boosted its position as one of the world’s leading vendors of robot vacuum cleaners. The additional largesse was revealed over the weekend by Dreame founder and CEO Yu Hao in two WeChat Moments posts. Yu said every employee will receive a one-gram gold bonus in addition to their standard year-end payout. The company also planned to reward 10 employees with a trip to…
China suggests ‘illegal’ Philippine fishing is damaging disputed Scarborough Shoal
A Chinese government report into the ecosystem of the contested Scarborough Shoal has concluded the reef was in a good overall condition, but suggested that “illegal fishing and frequent intrusive activities” by the Philippines were putting it at risk. The report, released on Monday, said the overall condition of the shoal’s coral reef was “good” with 135 different species of reef-building coral present. Scarborough Shoal, known as Huangyan Island in China and Panatag Shoal in the Philippines, is one of the major flashpoints in the South China Sea territorial dispute…