The CEOs of major South Korean conglomerates will attend an economic forum in Vietnam this month as leaders from both countries recently agreed to expand trade and economic cooperation. Analysts say that Vietnam has become a potential manufacturing base for Korean tech giants while China is losing its status as the “world’s factory” amid tensions…
South Korea’s Top Companies to Attend Economic Forum in Vietnam, Expand Trade
China’s Producer Price Inflation Falls 4.6 Percent in May Amid Overall Deflation Risk
June 9, 2023
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China’s Producer Price Index (PPI) fell for the eighth straight month in May, fortifying concerns about the economy slipping into a deflationary situation. Data from China’s National Bureau of Statistics show that the country’s PPI for May declined by 4.6 percent year over year, according to Reuters. This is the eighth consecutive monthly decline and…
Lawmaker Calls Out Shein for Lobbying to Clear Its Name of Forced Labor Allegations
June 9, 2023
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A senator is sounding the alarm about China’s fashion retailer Shein, alleging it is using forced labor in its clothing supply chains and is lobbying to dismiss the claim. “I write to make you aware of actions by Shein, an apparel company founded in China that profits from Uyghur slave labor. Shein is hiring D.C….
Beijing’s Existential Vulnerability
Commentary The two facts about China most important to the interests of freedom in the world (one, if you will, the enemy to the other) are: 1) the Chinese Communist Party (CCP) is succeeding in its stated goal to become the dominant power on the globe by midcentury; and 2) another Tiananmen Square massacre, the 34th anniversary of…
Bipartisan Bill Would Prohibit FAA From Using Chinese, Russian-Made Drones
June 9, 2023
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ChinaChina Business & EconomyChina NewscongressDronesFAAInfiltrating the WestNational SecurityPoliticsRussiaSpecial TopicsTech CompetitionUSUS NewsUS-China relations
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U.S. Sens. Marsha Blackburn (R-Tenn.) and Mark Warner (D-Va.) on June 8 introduced bipartisan legislation aimed at preventing foreign-produced drones from flying over American skies. Known as the “Stemming The Operation of Pernicious and Illicit (STOP Illicit) Drones Act,” the bill (pdf) would ban the Federal Aviation Administration (FAA) from buying or using drones produced in…
China’s Container Production Cuts Amid Shipping Industry Slump
June 8, 2023
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Container production is waning in China, where empty containers collect in ports amid weakening exports. All these are indicators that China’s shipping industry is in a state of decline. Data shows that the global production of new containers in the first quarter of 2023 has fallen to the lowest since 2010. According to data released…
EXCLUSIVE: China Sold Off Millions in Land and Property Ahead of UK’s Register of Foreign Entities
June 8, 2023
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The Chinese regime disposed of millions of pounds worth of lucrative UK land and property months before a public register of foreign owners came into force. Beijing’s main sovereign fund—China Investment Corporation (CIC)—sold off over 60 pieces of land, warehouses, and property across England last year ahead of the release of Britain’s first register of…
BlackRock’s China Head Leaving the Company
June 7, 2023
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BlackRock, the world’s largest asset manager, announced on June 6 that Tony Tang, the head of its China business, is leaving the company. Tang played a key role in driving the expansion of BlackRock’s operations in the world’s second-largest economy. In response to a question from Reuters, BlackRock confirmed Tang’s departure, stating that he “has…
Multiple High-Ranking Officials in China’s Tobacco Industry Probed for Corruption
June 7, 2023
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Since the start of this year, several executives and senior officials in China’s tobacco industry have been under investigation by China’s top disciplinary watchdog. Zhu Shaoming, former general manager of China Tobacco Yunnan Industrial Co., Ltd. (“Yunnan Tobacco”), is “suspected of serious violations of discipline and law” and is currently “undergoing disciplinary inspection,” the Central…
China’s Exports Declined by 7.5 Percent in May as Demand for Goods Wanes
Exports from China, the world’s second-largest economy, fell in May for the first time in three months amid waning global demand for Chinese goods. Data published on June 7 by China’s General Administration of Customs showed that exports, which serve as the main source of foreign exchange for China, fell 7.5 percent year over year, to $283.5 billion, marking…
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