A communiqué issued at the Group of Seven (G-7) summit in Hiroshima, Japan, says G-7 members are seeking to “de-risk” rather than “decouple” from China on economic issues. China experts say the statement encompasses a three-pronged approach that will make it difficult for China to upgrade its industries. Following the summit, China called on the…
G-7’s ‘De-Risk, Not Decouple’ Approach to China Is Three Pronged: Experts
May 26, 2023
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Hong Kong’s Foreign Trade Records Biggest Decline in 70 Years in January
March 9, 2023
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ChinaChina Business & Economychina decouplingHK BusinessHong KongHong Kong EconomySpecial TopicsTaiwan
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The year-on-year decline in Hong Kong’s foreign trade extended into January, recording its biggest monthly decline in 70 years; an expert says it’s evidence that “mainland China is slowly decoupling from the world.” Exports fell 36.7 percent and imports fell 30.2 percent in January from a year earlier, according to the January merchandise trade statistics…
GlaxoSmithKline Blacklisted by Chinese Authorities, Suspended From National Drug Procurement
November 10, 2022
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Multinational pharmaceutical giant GlaxoSmithKline (GSK) was recently blacklisted by the Chinese authorities and will not be eligible for the country’s national drug procurement program for the next one and a half years. Through the Chinese drug procurement program, pharmaceutical companies participate in a program of centralized drug procurement that supplies drugs at high volumes and…
US Suspends 26 Chinese Flights as China-US Decoupling Continues
Amid ongoing tensions and disputes between the United States and China, the United States has suspended dozens of flights by Chinese airlines. The Department of Transportation (DOT) announced on Aug. 25 that, in response to Beijing’s cancellation of U.S. flights over COVID-19 cases, the United States will suspend 26 U.S.–China flights by Chinese airlines in…
Supply Chain Adjustment: Thousands of British Corporations Aim to Cut Ties With CCP Market
According to the Financial Times, the head of the Confederation of British Industry (CBI) had revealed that thousands of British companies are planning to cut economic ties with China. Tony Danker, Director-General of the CBI, said UK businesses expect relations between Beijing and the West to deteriorate further, with many British companies accelerating their efforts…
Aftermaths of the Shanghai Lockdown Linger
June 23, 2022
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On June 1, Shanghai lifted its two-month-long Covid lockdown, declaring that work and production would resume, except in the “controlled areas” where residents still undergo regular nucleic acid testing. As a result of Beijing’s zero-Covid policy, some commentators believe that residents and businesses alike have reflected on the impact of the communist authority’s extreme measures…
3 Top Chinese Universities Withdraw From International Rankings, Shortly After Xi Jinping Asked Them to ‘Follow the CCP’
During an April 25 visit to one of China’s most prestigious universities, Renmin University in Beijing, Chinese leader Xi Jinping stressed that to build a world-class university with the Chinese characteristics, “you cannot follow in others’ footsteps.” Shortly after, on May 6, Renmin University announced that it will no longer provide data to the relevant international…
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