Last year, the Trump administration vowed to “aggressively” revoke the visas of Chinese students, especially those linked to the Chinese Communist Party or studying in critical fields. Months later, the US made a U-turn on the hard line stance, issuing 600,000 Chinese student visas as Washington and Beijing engaged in trade talks. BBC
The fearsome-sounding “Gangtie Jiliang” is designed to do what no machine has ever done before: delve straight down, kilometre after kilometre, into the heart of the Earth. Translated to English as “steel backbone”, Gangtie Jiliang is billed as the world’s first boring machine capable of excavating full-face shafts to depths exceeding 1,000 metres (3,280 feet) in hard rock. Weighing about 500 tonnes and measuring 8.1 metres wide, the machine looks less like mining equipment and more like an “underground aircraft carrier”, according to the state-owned Science and Technology Daily on…
China’s biopharmaceutical sector is seeing an uptick in deal-making, with sovereign wealth funds from Singapore and the United Arab Emirates joining Chinese state-backed investors to back next-generation drug developers. Shanghai-based Everest Medicines agreed to spend US$250 million to acquire a Singapore company holding rights to 14 chronic-disease treatments across the Asia-Pacific region, according to a stock exchange filing on Wednesday. Its Singapore unit will acquire 100 per cent of Hasten Biopharmaceuticals and assume a US$148.8 million shareholder loan from the target’s parent. An independent valuation placed Hasten’s equity value at…
I am a firm nonbeliever when it comes to the cult of John F. Kennedy, but like an atheist admiring the King James Bible, even I can appreciate some of the Kennedy scriptures. So as our latest lunar mission circles back to Earth, I find myself revisiting the speech at Rice University that launched us moonward. In that address, Kennedy declared that America would be ascending to the moon for the same reason that mountain climbers attempt Everest: because “space is there, and we’re going to climb it.” What’s striking,…
Take part in a live Ask an Expert Q&A with Joe Leahy and Cheng Leng from our Beijing bureau on Friday April 10 at 1pm BSTFinancial Times
The United States boasts military superiority over Iran but has emerged as the strategic loser in the five-week conflict, with gains limited to a fragile two-week ceasefire and conditional passage through the Strait of Hormuz, according to analysts. Shortly before US President Donald Trump’s deadline for Iran to meet his demands or face destruction of its civilian infrastructure, the US and Iran entered a two-week ceasefire agreement mediated by Pakistan. Beijing reportedly intervened at the last minute to get Tehran to the negotiation table. Iranian and American delegations will meet…
President Xi Jinping has signalled a renewed focus on China’s services sector, calling for a demand- and tech-led strategy to reshape growth and create jobs, as policymakers met to chart the path forward. “The focus must be on demand-driven development and reforms as well as empowerment by technologies,” Xi said in a message to a two-day conference on the sector that concluded on Wednesday, according to state-run news agency Xinhua. Highlighting the role of services in tackling some of China’s biggest challenges, Xi said the sector had grown in scale…
As the United States and Iran agree to a two-week ceasefire, Pakistan’s strongman military chief is emerging as a major diplomatic player on the international stage. When announcing the truce, both US President Donald Trump and Iranian Foreign Minister Abbas Araghchi expressed appreciation for the diplomatic efforts of Asim Munir. Munir, who last year became Pakistan’s first ever chief of defence forces, is widely seen as the most powerful man in the country. Advertisement The New York Times reported on Tuesday that shortly before announcing the ceasefire, Trump made two…
Billionaire investor and philanthropist Ray Dalio has called the US-China relationship the single most critical factor for global well-being, as the war on Iran shakes the world order and leaders of the two superpowers prepare to meet next month. Strong ties between Beijing and Washington could unlock immense progress for humanity, while bad relations could cause catastrophic damage, Dalio warned at an event for his non-profit ocean exploration initiative OceanX in Shanghai on Wednesday. “We are at a juncture in which we have to deal with the changing world order,”…
The first tankers that turned away from the Strait of Hormuz did not just redraw shipping maps. They redrew grocery lists, too. After Iran’s partial closure of the strait disrupted a chokepoint that carries roughly 20 per cent of the world’s oil, traders priced in something they know too well: war is not only about missiles; it’s about the bill that lands on kitchen tables months later. Brent crude climbing back above US$100 a barrel, and touching roughly US$120 on the worst days, is already more than a market headline,…