Tag: International Trade and World Market

How China Came to Dominate the World in Solar Energy

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China unleashed the full might of its solar energy industry last year. It installed more solar panels than the United States has in its history. It cut the wholesale price of panels it sells by nearly half. And its exports of fully assembled solar panels climbed 38 percent while its exports of key components almost doubled. Get ready for an even bigger display of China’s solar energy dominance. While the United States and Europe are trying to revive renewable energy production and help companies fend off bankruptcy, China is racing…

6 Charged With Smuggling Goose and Duck Intestines From China

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Some were in crates marked as “pet nail clippers.” Others were hidden under packaged rattlesnakes, a complaint filed in Federal District Court in Brooklyn said. The crates concealed exotic delicacies that were illegal contraband, the complaint said: raw goose and duck intestines, sent from China and destined for New York City shops and restaurants. Federal agents arrested six people on Tuesday and charged them with smuggling the organs through Los Angeles between August 2022 and May 2023, though the complaint also mentions illicit shipments as recently as January. The defendants…

China Sets Economic Growth Target of About 5%

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China’s top leaders on Tuesday set an ambitious target for growth as its economy is laboring under a steep slide in the housing market, consumer malaise and investor wariness. Premier Li Qiang, the country’s No. 2 official after Xi Jinping, said in his report to the annual session of the legislature that the government would seek economic growth of around 5 percent. That is the same target that China’s leadership set for last year, when official statistics ended up showing that the country’s gross domestic product grew 5.2 percent. Some…

Biden Calls Chinese Electric Vehicles a Security Threat

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President Biden took steps on Thursday toward blocking internet-connected Chinese cars and trucks from entry to the American auto market, including electric vehicles, saying they posed risks to national security because their operating systems could send sensitive information to Beijing. The immediate action was the opening of a Commerce Department investigation into security threats, which could lead to new regulations or restrictions on Chinese vehicles. But administration officials made clear it was the first step in what could be a wide range of policy responses meant to stop low-cost Chinese…

Africa’s Donkeys Are Coveted by China. Can the Continent Protect Them?

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For years, Chinese companies and their contractors have been slaughtering millions of donkeys across Africa, coveting gelatin from the animals’ hides that is processed into traditional medicines, popular sweets and beauty products in China. But a growing demand for the gelatin has decimated donkey populations at such alarming rates in African countries that governments are now moving to put a brake on the mostly unregulated trade. The African Union, a body that encompasses the continent’s 55 states, adopted a continentwide ban on donkey skin exports this month in the hope…

U.S. Campaign to Isolate Russia Shows Limits After 2 Years of War

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The Biden administration and European allies call President Vladimir V. Putin of Russia a tyrant and a war criminal. But he enjoys a standing invitation to the halls of power in Brazil. The president of Brazil says that Ukraine and Russia are both to blame for the war that began with the Russian military’s invasion. And his nation’s purchases of Russian energy and fertilizer have soared, pumping billions of dollars into the Russian economy. The views of the president, Luiz Inácio Lula da Silva, encapsulate the global bind in which…

Volkswagen and BASF Are Reconsidering Ties to Xinjiang, China

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Volkswagen Group is reviewing the future of its joint venture in the Xinjiang region of northwestern China and another German industrial giant is starting to sell its stakes there following new international scrutiny of forced labor by predominantly Muslim ethnic groups. Volkswagen said last week that it was in discussions with one of its main joint venture partners in China, the state-owned Shanghai Automotive Industry Corporation, in the wake of allegations of human rights violations at their joint venture in Xinjiang. The companies are examining “the future direction of the…

Shell Sees Demand Surging for Liquefied Natural Gas

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Shell, Europe’s largest energy company, forecast on Wednesday that global demand for liquefied natural gas, which has been a lifeline for Europe after Russia cut off pipeline gas supplies, will surge by around 50 percent over the next 15 years. The main source of growth is expected to be in China, which will switch from coal to gas in industry to cut emissions, Shell said. The fuel, which is chilled to minus 260 degrees Fahrenheit and transported on specialized ships, has become a significant moneymaker for Shell as part of…

How China Built BYD, Its Tesla Killer

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China’s BYD was a battery manufacturer trying its hand at building cars when it showed off its newest model in 2007. American executives at the Guangzhou auto show gaped at the car’s uneven purple paint job and the poor fit of its doors. “They were the laughingstock of the industry,” said Michael Dunne, a China auto industry analyst. Nobody is laughing at BYD now. The company passed Tesla in worldwide sales of fully electric cars late last year. BYD is building assembly lines in Brazil, Hungary, Thailand and Uzbekistan and…

United States Spurns China for Mexico and Other Allies, Trade Data Shows

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In the depths of the pandemic, as global supply chains buckled and the cost of shipping a container to China soared nearly twentyfold, Marco Villarreal spied an opportunity. In 2021, Mr. Villarreal resigned as Caterpillar’s director general in Mexico and began nurturing ties with companies looking to shift manufacturing from China to Mexico. He found a client in Hisun, a Chinese producer of all-terrain vehicles, which hired Mr. Villarreal to establish a $152 million manufacturing site in Saltillo, an industrial hub in northern Mexico. Mr. Villarreal said foreign companies, particularly…