Tag: Politics and Government

China Releases Australian Journalist Cheng Lei

Media Library

Cheng Lei, an Australian journalist who was held in Beijing for more than three years, has returned to Australia, Prime Minister Anthony Albanese said on Wednesday. Mr. Albanese said Ms. Cheng had been reunited with her two young children in Melbourne. “Her return brings an end to a very difficult few years for Cheng and her family,” Mr. Albanese said at a news conference on Wednesday. Ms. Cheng, who worked for China’s global television network, was detained in Beijing in August 2020 and formally arrested later on suspicion of sharing…

Fragile Global Economy Faces New Crisis in Israel-Gaza War

Media Library

The International Monetary Fund said on Tuesday that the pace of the global economic recovery is slowing, a warning that came as a new war in the Middle East threatened to upend a world economy already reeling from several years of overlapping crises. The eruption of fighting between Israel and Hamas over the weekend, which could sow disruption across the region, reflects how challenging it has become to shield economies from increasingly frequent and unpredictable global shocks. The conflict has cast a cloud over a gathering of top economic policymakers…

Samsung and SK Hynix Get U.S. Waivers From Export Curbs

Media Library

The South Korean government said on Monday that the country’s semiconductor manufacturers have secured waivers from U.S. government rules that threatened to limit their businesses in China. At issue is the continuation of licenses granted last year by the U.S. Commerce Department to Samsung and SK Hynix, the two dominant South Korean chip makers. The licenses effectively suspended 2022 controls on exports of semiconductors and chip making equipment to China. South Korea, an ally in America’s chip war with China, relies heavily on its semiconductor sector for jobs and revenue.…

How Aligning With China Changed Life in the Solomon Islands

Media Library

In Honiara, they’ve just finished this brand-new stadium, and there’s not enough medicine in the main hospital in the country. There’s medicine shortages, so they’re turning people away from the hospital. You couldn’t ask for a more clear contrast in terms of the misallocation of priorities from the Chinese approach. And that really angers people. There is a really quite sad cynicism among many rural Solomon Islanders that nothing will ever change. They saw billions of dollars getting pumped into Honiara previously from Australia in terms of its peacekeeping efforts…

Athens Democracy Forum: Daring to Hope That Democracy Will Prevail

Media Library

That Mr. Putin had to journey to North Korea last month to seek support for a long war was a measure of his humiliating isolation, whatever Russia’s ascendancy in Africa, where it has contrived to present itself as an anticolonial power even as it fights a form of colonial war aimed at reabsorbing Ukraine, or much of it, into the “Russkiy Mir,” or Russian world. Ukraine, of course, is fighting for democracy, freedom, the sanctity of sovereignty and the right of a sovereign state to choose its strategic direction. This…

Athens Democracy Forum: The Disunited States of South America

Media Library

This article is from a special report on the Athens Democracy Forum, which gathered experts last week in the Greek capital to discuss global issues. Moderator: Serge Schmemann, editorial board, The New York Times Participants: Natalia Herbst, social impact consultant and Obama Foundation Scholar alumnus; Jorge Fernando Quiroga, former president, Bolivia; and Adriana Mejía Hernández, executive director, Fundación Innovación para el Desarrollo Excerpts from the panel Disunited States of South America have been edited and condensed. SERGE SCHMEMANN In my preparatory reading, I found a dual image of the continent.…

China Is Suffering a Brain Drain. The U.S. Isn’t Exploiting It.

Media Library

They went to the best universities in China and in the West. They lived middle-class lives in Beijing, Shanghai and Shenzhen and worked for technology companies at the center of China’s tech rivalry with the United States. Now they are living and working in North America, Europe, Japan, Australia — and just about any developed country. Chinese — from young people to entrepreneurs — are voting with their feet to escape political oppression, bleak economic prospects and often grueling work cultures. Increasingly, the exodus includes tech professionals and other well-educated…

China Evergrande’s Founder: The Rise and Fall of Hui Ka Yan

Media Library

Hui Ka Yan founded the real estate behemoth China Evergrande. His promise to transform rural villages to metropolises with middle-class comforts made him one of China’s wealthiest people. He rubbed shoulders with officials in the highest levels of government, celebrating the Communist Party’s 100th anniversary in 2021 at Tiananmen Square. Now, he is being investigated by the authorities for suspected criminal behavior. Mr. Hui’s life story, from impoverished village boy to property magnate, once made him a symbol of the great promise of China’s economic rise. Buyers flocked to buy…

How China’s Property Crisis Is Testing Its Too-Big-to-Fail Banks

Media Library

China’s giant banking system, the world’s largest, is heavily exposed to the real estate crisis: Nearly 40 percent of all bank loans are related to property. And pressure is building on those banks as dozens of real estate developers have defaulted or missed payments on overseas bonds, led by China Evergrande, the world’s most indebted developer. The scale of China’s property problems — enormous levels of debt, an oversupply of apartments and consumers increasingly wary of buying — means the government could be forced in the coming years to spend…

Gifts, Gadgets and Greece: Inside a Huawei Lobbying Campaign

Media Library

In November 2020, executives at Huawei, the Chinese telecom-equipment maker, exchanged messages about holding a meeting with a “friend” and an “adviser” in Greece. The contacts, identified as Greek government advisers, were set to provide Huawei with something valuable: a document outlining government contracts and “first priority projects” that the company might want to work on in the country. Huawei managers discussed giving the advisers a Huawei Mate XS smartphone, the company’s GT 2 smartwatch and wine, according to internal text messages and other documents reviewed by The New York…