A US-China pharma drug war in the making - Asia Times

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Although China’s market does have a sizable private industry, it can be safely argued that state intervention is always in order. For all practical purposes, this results in a state-controlled market with a perimeter with a private field operating within bounds, which are frequently unknown but still bounds.

So, a private sector firm that becomes too strong or visible is reined in. Furthermore, when it needs assistance, this is often upcoming in the form of credits, incentives or more complicated means or mechanisms. Every Chinese financial organization has the potential to be a state entity as a result.

For the international economic order, this would not be a major concern were it not for the fact that with 18 % of the world’s population, China produces as much as 35 % of the nation’s industrial production making it, &nbsp, for all practical purposes, the country’s shop floor.

And this in switch has a significant impact on China’s public and more specific political and economic ties with the industrial West.

China’s manufacturing gateway has largely three parts. The second is made up of essentially straightforward consumer goods and middle systems, many of which are now migrating to nearby nations with lower labor costs.

The second group includes advanced chargers or solar panels, which are both more cost-effective than their Western counterparts and have a lower production cost of about 45 %, leaving the question unanswered: whether or not this is the result of fabricated state grants.

The second is the result of China’s business elite’s transition from manufacturing to development.

It was a given that over the centuries China would travel from” conceived in California, assembled in China” to” conceived in China, manufactured wherever appropriate”. Foreign biotechnology companies like WuXi Biologics have grown to be world players in their own right, breaking the mold of telecoms giant Huawei and establishing itself as the first to do so.

By identifying solutions for the likes of pulmonary disease and the production of high-quality medications, they have revolutionized modern medication. By recent estimates, WuXi is involved in the development of a fourth of all the drugs&nbsp, used in the United States.

Now, the Biden administration’s plan of decoupling America’s silicon output from China has filtered down to the US Congress, which is now trying to detach China’s biotechnology research and drug producing power from the British market.

Even though WuXi’s claim that he sponsors military-civil events serves as the justification for the move, it is extremely believed that WuXi’s action reflects an anti-Chinese bias that is already manifesting itself in the world of the foolish.

The issue is still undergoing discussion and the necessary legislation has not yet been approved, but it has piqued a lot of interest in the US healthcare industry because many people believe it to be political interference in the advancement of medical research, which could ultimately lead to the loss of hundreds of thousands of lives for British patients.

Beyond Washington’s existing drug war with China, the issue is Washington’s ability to deal with an Imperial Empire in a comprehensive and rational manner.
Whatever the logo it uses to describe its products, the state still dominates in China.

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The use and abuse of maps to dehumanize war - Asia Times

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Maps, although evidently goal representations of the world, hold enormous power. They influence how we perceive place, how we travel, and what social boundaries are. However, there is a possibility for adjustment beneath the surface of the neutrality.

The history of conflict is full of illustrations of drawings that depict the foe inhumanity. Some of these are pretty obvious. In the first globe war, all sides produced humorous maps that depicted Europe as a series of cartoons to demonize the foes and advance a successful conflict narrative.

Different cases are less apparent. In the Vietnam War, US military maps were created that designated certain areas of Vietnam as “free-fire zones,” meaning anyone who lived in a zone may be viewed as hostile and used as a weapon against anyone who attempted to use force there.

Essentially, this tactic successfully eliminated the civil population from the map and made the entire region a haven for the enemy.

A map of Europe at the outbreak of the first world war with each country depicted as satirical human figure.
A map of Europe created in Germany at the start of the second world war that depicts each nation as a satirical human figure. US Library of Congress / Wikimedia

Maps have an intrinsic level of abstraction, which contributes to their dehumanizing result. Maps reduce a complicated environment, which is teeming with life and history into ranges, symbols, and colors, simplifying reality. Although simplicity is required for clarity, it frequently leads to the loss of the human element.

The following image, for instance, shows the sites of Russian-led ground and air strikes that were carried out after its conquest of Ukraine in February 2022. To make the fight less complicated, the image uses icons.

Afterwards, we would discover that one of these cartoon-like symbols represents the Bucha massacre, which allegedly resulted in the deaths of 458 Ukrainian citizens and war prisoners by Russian forces.

AP image via The Chat

Supporting conflict

Charts can also be used to promote the “us v them” culture that energy issue. They create a physical distinction between “our part” and” own” by starkly defining enemy territory.

Radical Hutu media outlets created maps that classified Rwandans by ethnicity: Hutu and Tutsi in the lead-up to the 1994 genocide. These maps were n’t just geographical representations, they were tools for identification and targeting.

The charts frequently sharply divided the areas of Hutu and Tutsi using contrasting colors. This visual distinction promoted the idea that Tutsis were not a part of the Rwandan fabric by establishing a clear separation between the in-group ( Hutu) and the out-group ( Tutsi ).

Some drawings went further, using icons like batons or snakes to signify Tutsis, portraying them as aggressive and harmful. These drawings were widely circulated in magazines and radio broadcasts. They not just identified Tutsis, but they also served as physical adsolicitation that supported their impunity.

It is easier to see the enemy as an abstract danger than fellow human beings because of this physical separation, which fosters a sense of range and difference. Propaganda charts profit from this effect by exaggerating the territory’s size or presenting army populations as impersonal masses.

removing the person from the image

Utility drawings were introduced to Gaza by the Israel Defense Force in December 2023, giving another method of dehumanizing populations. Israel has divided Gaza into more than 600 stones, apparently to aid in transporting citizens, similar to the free-fire areas of the Vietnam War.

Removal warnings can be received for each stop on the image before a given rectangular is bombarded with them, which can be accessed via a QR code on flyers and social media posts.

Aid workers have but warned that the image runs the risk of making Gaza existence a “game of battleships,” in which flattening any network circle is justified despite the claim that it is an empty room on the chart.

Drawings also have an impact on the way we, as spectators, see issue. This may extend beyond the battle. Migrants are frequently depicted as a homogeneous mass, disregarding the personal stories and desires that led to their displacement.

In the early stages of Russia’s war of Ukraine, for instance, the BBC came under fire for one image in which it used bolts to describe the movement of immigrants. These characters were interpreted as a form of war rather than a frightful escape, according to some on social media. Following censure, the BBC updated the image to use equal lines instead.

Screenshot

Instructions are being learned

The dehumanization natural in battle maps is not expected. For example, including human infrastructure and population mass on defense charts can serve as a continuous reminder of the human value of conflict.

Oral histories and community modeling initiatives can also provide fresh perspectives on the property, highlighting the individual stories that military cartography frequently overshadows.

In light of the issue in Gaza, lessons have been learned about how to use charts more effectively. For instance, Reuters has used maps in addition to other words and visual components to show a more in-depth story and complete what maps only might never be able to perform.

In the end, charts are tools that can be used for good or evil. We must try to remember the people whose lives are affected by the conflicts that are depicted on maps.

Doug Specht is Reader in Cultural Geography and Communications, University of Westminster

The Conversation has republished this essay under a Creative Commons license. Read the original post.

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Why Iran fears Trump 2.0 more than most - Asia Times

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Recent months have generated a lot of discussion about what a potential following Donald Trump administration in the United States might mean for China, Russia, Ukraine, and the Israel-Palestine conflict. But there’s one more land closely watching the race: Iran.

Another Trump administration could present a considerable risk to the Persian leadership, especially given the recent tit-for-tat strikes against Israel, the looming danger of a wider Middle East war, and other important internal issues.

A new Trump administration could be a risk to the administrative creation in such a situation: a potential financial impact, bolder military actions against the regime, and more organized protests.

Renewed financial stress

In 2018, Trump withdrew the US from the Iran nuclear deal negotiated by his predecessor, Barack Obama, and imposed crippling sanctions on the state as part of his “maximum force” promotion on the Egyptian government.

Iran’s next- vice chairman, Eshagh Jahangiri, described the following year as the” toughest” since the Islamic Republic’s inception. Trump’s plan reduced Iran’s oil exports to a historical low of under 400, 000 barrels per day, considerably slashing the government’s petrodollars, which represent about 70 % of government revenues. Also, between 2018 and 2020, Iran’s national currency depreciated by more than 600 %.

Iran’s oil imports increased after Joe Biden was elected president in 2020. Iran’s oil exports, according to a recent report, increased by around 1.56 million barrels per day over the course of the first three weeks of 2024. Democrats in the US accuse the Biden presidency of not imposing sanctions on Iran despite the White House’s assertions that it does.

With Iran’s economy also weakened, Trump’s potential profit could take a new wave of force. Iran’s Chamber of Commerce, Industries, Mines and Agriculture has noted, for example, that a Trump return will trigger Iran’s oil imports to” experience once”.

A Trump transfer would require being prepared for “increased restrictions pressure and an economical shock,” according to the head of Iran’s Parliament Research Center, who also highlighted the nation’s current US$ 3.7 billion budget deficit.

Another finance specialist, Morteza Afghe, struck a more severe word when he warned of a potential” decline of Iran’s business”. Afghe believes that Trump would be even more determined to intensify his “maximum stress” campaign on Iran as a result of President Ebrahim Raisi’s more stern anti-West policies and the ruling of dramatic factions in congress.

Now presently, Trump’s sweeping victory in the Republican nominations earlier this year coincided with a 20 % decrease in the Egyptian rial’s value.

Security repercussions

On the surveillance before, Trump’s probable profit is reminding the Egyptian management of a major loss under his presidency: the 2020 killing of General Qassem Soleimani, the former commander of the Islamic Revolutionary Guard Corps ‘ Quds Force, in a US airstrike.

When he was killed, Iran’s supreme leader, Ali Khamenei, described Soleimani as the architect behind the Iran- backed militia networks in the Middle East, known as the” axis of resistance”. Khamenei also said he “bows to Soleimani” for his achievements with the Quds Force. The significant impact that the US strike had on Iran’s security interests is illustrated by this.

During a funeral procession in the Iraqi city of Karbala on January 4, 2020, mourners gathered inside the Shrine of Imam Hussein to pay their respects to the slain Iraqi paramilitary chief Abu Mahdi al-Muhandis, Iranian military commander Qasem Soleimani, and eight others. Photo: Asia Times Files / AFP / Mohammed Sawaf

In addition to the deaths of two generals in a recent Israeli airstrike on the Iranian diplomatic compound in Syria’s capital, seven members of the Quds force were killed. Iran launched an unprecedented retaliatory attack on Israel, which Trump then retaliated by reposting a threatening tweet from 2018.

He also said at a rally:

]Israel is ] under attack right now. That’s because we show great weakness. ]… ] It would not have happened if we were in office.

A potential Trump return could make the Iranian leadership feel even more vulnerable in light of this rhetoric and the heightened tensions with Israel. For instance, it might lead to more US or Israeli military action against Iranian proxy militias in Syria and Iraq or even bolder strikes against Iran itself.

Even before the recent Israel- Iran tensions, Mehdi Mohammadi, an advisor to Iran’s parliament speaker on strategic affairs, said Iran’s national security could face “very difficult” years under another Trump presidency, reintroducing the prospect of “maximum threats” against Tehran.

Homelessness becoming more and more unrest

Elections were held earlier this year for the Assembly of Experts, the body that appoints the supreme leader, and Iran’s parliament. Only 41 % of voters turned out, according to reports. In the capital of Tehran, turnout was only 24 %, the lowest in the history of the Islamic Republic.

This is the third election in four years with voter turnout below 50 %, including two parliamentary elections and one presidential election. Prior to 2020, voter turnout typically exceeded 60 % or even 70 %.

Given the declining voter turnout and three significant, nationwide protest movements since 2017, Iran’s leadership is at the center of the most severe legitimacy crisis in the Islamic Republic’s history.

This has coincident with the hardliner’s election as president in 2021 and the election of radical groups in the new parliament, which won numerous seats in the process.

These lawmakers want Iran to impose even stricter restrictions on domestic life, including stronger internet censorship and stricter Sharia law, and challenge the US and its allies.

Media outlets within the nation have suggested that the rise of ultraconservative, unpopular political figures could exacerbate public dissatisfaction with the regime. In such circumstances, a second Trump presidency’s potential economic effects could lead to a new wave of nationwide demonstrations.

And if Trump is elected, Iran’s supreme leader would be about 86 years old when he took office. A Trump presidency would elicit even more uncertainty at a crucial time in Iranian politics.

Amin Naeni is PhD candidate at Alfred Deakin Institute for Citizenship and Globalisation, Deakin University

This article was republished from The Conversation under a Creative Commons license. Read the original article.

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France taking sides with Philippines vis-a-vis China - Asia Times

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MANILA – In the tumultuous South China Sea dispute, France is the latest American power to join the Philippines.

While this month’s US- Spanish Balikatan ( shoulder to shoulder ) joint military exercises are renowned for their large size with over 17, 000 participating troops, state- of- the- art missile system tests and drills innocently near Taiwan, France’s presence at the war games has been less noticed. &nbsp, &nbsp, &nbsp,

The French Navy’s flagship warship, Vendemiaire, sailed alongside Philippine and US counterparts – the Philippine Navy’s BRP Davao del Sur ( LD- 602 ) and BRP Ramon Alcaraz ( PS- 16 ) and the US Navy’s USS Harpers Ferry– as part of the multilateral maritime exercise ( MME) under Balikatan Exercises 2024.

France also announced that it would soon begin high-level negotiations for a similar arrangement to the Visiting Forces Agreement with the Philippines to regulate and expand combined drills in the near future.

Additionally, the European power is even offering superior weapons systems, including a possible multi- billion submarine deal, amid the Philippines ‘ substantial military modernization program.

Although a member of the US agreement alliance, the Philippines is actively diversifying its security relations by strengthening ties with a broad network of companions from the Indo-Pacific to Europe to improve its strategic autonomy and strengthen its lagging maritime security capabilities.

The US is still the country’s sole treaty ally and its principal safeguard partner. Under the terms of the 1951 Mutual Defense Treaty, US President Joe Biden once more pledged to assist the Philippines in the event of a fight in the South China Sea.

For the first trilateral mountain of Japan, Philippines, and US ( JAPHUS), Philippine President Ferdinand Marcos Jr. and his Chinese counterpart Fumio Kishida just sat down in Washington. At the conference, the US and Japan both pledged to increase their security aid and invest new proper funds in the Philippines.

The Philippines is quickly emerging as a crucial part of America’s “integrated deterrence” approach in Asia, which is why the South China Sea and the Bashi Channel near Taiwan are the site of the highly developed and technically advanced Balikatan joint maneuvers.

Filipino policymakers, however, are also keenly aware that the Biden administration is committed to multiple allies and partners across various theaters, from Eastern Europe to the Middle East.

The US Senate recently passed a US$ 95 billion emergency package with earmarks for Ukraine ($ 60 billion ), Israel ($ 17 billion ) and Taiwan ($ 8 billion ). Although US military funding for the Philippines is projected to increase to about$ 500 million, it still accounts for only a small portion of US defense aid to other security partners.

And it’s not clear when, if ever, the Philippines will also get American- made and desperately needed modern fighter jets and weapons systems, which even non- allies such as Jordan, Pakistan and Egypt have received. The Philippines ‘ level of US aid to date is woefully inadequate in light of the magnitude of the military challenge posed by China in nearby waters.

Natural partners

Over the past decade, the Philippines and Europe have emerged as like- minded partners. The Philippines broadly shares Europe’s strategic outlook and value system as the only liberal democracy in Southeast Asia, which has notably supported the West in conflicts in Gaza and Ukraine.

Even more crucially, the two sides have also steadily recognized each others ‘ strategic significance. For its part, the European Union and post- Brexit Britain have stepped up their regional diplomacy through the pursuit of free trade agreements and defense cooperation with a host of Asian powers, most notably India, Japan, South Korea, Australia, Singapore and Vietnam.

While the European Union has concluded free trade agreements with various regional economies, Britain became the first European country to sign on to the Japan-led Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPPA ) and become the first free trade agreement.

All three major European powers, in addition to the Netherlands and Italy, have recently carried out patrols across the Indo-Pacific, and the European powers have also been active on the defense front.

French President Emmanuel Macron made an open call for a” Paris, Delhi, Canberra axis,” which he claimed would “be respected by China as an equal partner” during a visit to the region, underscoring Europe’s commitment to a proactive strategic presence there.

France also became the first European nation to appoint a special envoy in the Indo-Pacific. Along with Germany, France also released its own” Indo-Pacific” strategy in the late 2010s, which served as a guide for the broader European Union’s foreign policy in Asia.

At times, France has pushed the China envelope with the naval frigate Vendemiaire&nbsp, passing through the Taiwan straits in Europe’s own version of “freedom of navigation operations”. In addition, Britain has frequently deployed warships to the Indo-Pacific, most notably the HMS Queen Elizabeth during the pandemic, for joint drills and freedom of navigation patrols.

Although the Philippines and other countries in the Rodrigo Duterte administration had contentious relations, particularly over human rights and democracy, the three major European powers, the so-called” E3,” have consistently supported Southeast Asian countries in their South China Sea disputes.

The Marcos Jr administration has embraced a friendlier stance toward traditional partners while standing up for China’s assertiveness in the South China Sea in the past two years.

Last year, EU chief Ursula von der Leyen made a historic visit to Manila to “accelerate a new era of cooperation” in order to jointly preserve&nbsp,” the international rules- based order”. During her visit, she openly criticized China both for the latter’s alleged assistance to Russia in the Ukraine conflict but also, referring to the South China Sea disputes, China’s “more assertive stance in your region]Southeast Asia ]”.

Accordingly, she vowed to” strengthen cooperation with the Philippines on maritime security” by focusing on, inter alia,” the capacity of your National Coast Watch Center (NCWC ) and your Coast Guard”.

The European Union’s commitment to strengthening bilateral defense cooperation was highlighted by the fact that Britain also sent a first-ever observer to the Balikatan exercises last year.

Europe is positioning itself as a significant potential supplier of advanced weapons systems in addition to the Philippines ‘ once-in-a-generation military modernization program.

Particularly noteworthy is France Naval Group, a manufacturer of the Scorpene diesel-electric submarine, who has offered to build submarines and a Philippine submarine force as well as provide the basic infrastructure needed for the operation of sophisticated naval assets.

Other European nations such as Spain, which had a three- centuries- old colony in the Philippines, have also offered major submarine and warship packages.

France participated in this month’s Balikatan exercises through trilateral naval drills with the Philippines and the US, including maritime search and rescue operations, gunnery exercises, and division tactics, to improve their interoperability and signal a united front.

” They have lined up training activities. In fact, upon reaching]our ] eastern coast in Palawan, they will start division tactics]training]. They will be sailing together]across ] east coast then ]head ] up north up to Mindoro Strait]then enter ] the]South China ] Sea”, Philippine military spokesman Ariel Coloma told reporters in a mixture of Filipino and English.

Following their joint drills in the South China Sea, the three navies will break out for separate exercises, according to Coloma. Additionally, the Philippines ‘ BRP Ramon Alcaraz and the French frigate Vendemiairea are scheduled to conduct separate bilateral drills separate from the US-Pakistan exercises.

According to French Ambassador to the Philippines Marie Fontanel, negotiations on a Reciprocal Access Agreement (RAA ) could significantly accélérate bilateral security cooperation, based on a prior agreement reached last December.

The French ambassador spoke during a press conference with French Ambassador to the Indo-Pacific Marc Abensour, who had also traveled to the Philippines on the sidelines of the Balikatan exercises, about having an opportunity to start the negotiations in May or at least talk about the modalities.

Other European powers, including the US and Australia, who both have VFA-style agreements with the Southeast Asian nation, might soon follow suit.

Follow Richard Javad Heydarian on X at @Richeydarian

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Apple needs China more than China needs Apple - Asia Times

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Apple has slipped to second place in China’s smartphone sales position, outsold by regional rivals Huawei, OPPO, Honor and live.

Apple’s iPhone and Chinese smartphones are closing the achievement distance, while some Americans are stifling the US government’s attempts to support local businesses has resulted in buying local.

Due to security concerns, Chinese authorities have also placed local regulations on Apple, including restrictions on using smartphones at some state agencies and state-linked businesses in at least eight provinces.

Employees at the aforementioned organizations and firms, including those in rich maritime areas, have been advised to instead purchase and employ local cellphone brands since December. Apple was given a Chinese law enforcement notice earlier this month to stop selling the social media platform Threads and Meta’s WhatsApp messaging service from its China software store.

The effects of those restrictions on Apple’s declining regional income is hard to disaggregate. Apple has slipped in nearby positions despite using more, not fewer, Chinese manufacturers and Apple CEO Tim Cook’s regular visits to China to proclaim his company’s responsibility to China’s business.

Apple’s smartphone unit revenue dropped 25 % yr- on- year in the second quarter of 2024 while its market share fell from 20 % to 15 % over the same time, according to tech industry research firm Canalys.

Sources: Data from Canalys, chart by Asia Times

Huawei’s sales were up 71 %, lifting its market share from 10 % to 17 %. Additionally, OPPO and vivo lost market share, though not as much as Apple. Honor, a discount brand spun off from Huawei, increased its share from 14 % to 16 %. Xiaomi ranked sixth, close behind Apple.

Sources: Data from Canalys, chart by Asia Times

The data from Counterpoint Market Pulse is slightly different, but it also shows significant declines for Apple and significant gains for Huawei.

According to Apple’s supplier list for the previous fiscal year, Chinese companies have increased their lead, increasing by 30 %. Taiwanese, American and Japanese companies continued to rank second, third and fourth, though all their numbers declined.

The list includes 187 companies which, according to Apple, accounted for 98 % of the company’s direct spending on materials, manufacturing and assembly in fiscal 2023, which ended last September.

Vietnamese and Thai businesses on the list increased in response to the exodus of low-cost assembly operations from Southeast Asia to China.

Nikkei Asia’s analysis shows 40 % growth in the number operating in Vietnam to 35 but 13 of them are actually Chinese suppliers.

Although the number of South Korean businesses on the list decreased while the number of European ones increased, their shares of the total were each less than 10 %. 14 Indian companies remain, or 2 % of the total.

More surprising, perhaps, is that Apple’s list shows that more than 80 % of the company’s suppliers have a presence in China.

” There’s no supply chain in the world that’s more critical to us than China. Apple CEO Cook stated on a March trip to China that “we’ve been building up and investing more and more.” ” Today’s factories are so much more modern. And in 10 years from now, we will keep advancing”.

Among the eight new recent Apple suppliers in China, identified are Baoji Titanium Industry, thermal interface and graphite supplier Jones Tech, ultra-fine wire producer Zhejiang Tony Electronic, printing and packaging company Paishing, San’an Optoelectronics, and precision component and manufacturing service provider Shenzhen BSC Technology.

DigiTimes also noticed that four Chinese businesses had been taken off of Apple’s list of suppliers in order to win over the Chinese government. Additionally, Apple is actively expanding its production in India and Southeast Asia.

However, it is clearly not reducing its involvement with China, where it still accounts for 17 % of its manufacturing output in the fourth quarter of 2023 and contributed to its growth. How it will deal with its accelerating loss of market share in China, however, is another story.

Follow this writer on&nbsp, X: @ScottFo83517667

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Biden places politics over strategy in US Steel sale - Asia Times

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Barack Obama made a decision eight years ago that has hampered US reputation and control in the Indo-Pacific to this day.

Obama sided with strategic concerns by weighing political calculations when he considered and ultimately rejected the Trans-Pacific Partnership ( TPP, now known as the Comprehensive and Progressive Agreement on Trans-Pacific Partnership, or CPTPP ) ratification.

Joe Biden is acting in the same way as he weighs the order of US Steel by Japan’s Nippon Steel.

Basically concerned about national security, while in fact&nbsp, weighing the impact on political support&nbsp, in battleground state in an election time, Biden has announced his opposition to the price.

It’s a short-sighted choice that threatens long-term US national interests, insults a vital ally, undermines international monetary policy, and allows protectionism from trading partners.

Nippon Steel announced last December that it would buy US Steel, an iconic organization that was struggling to survive, for US$ 14.9 billion.

Nippon Steel promised to keep the business name and its headquarters in Pittsburgh, pledged&nbsp, and that there would be no work breaks and that it would help the company “grow in the United States,” in response to criticism from workers who feared cuts and economic patriots who were opposed to any sales of US businesses.

The Committee for Foreign Investment in the United States ( CFIUS) would review the deal first, but the US did not specify how that review should conclude. Some believed that the CFIUS critique would help pass the offer without pricking the Biden administration.

Biden then appeared to criticize the order, saying that it was “vital” that the business should be in British hands. Donald Trump, who will experience Biden in the November national vote, has been more harsh, calling the price” a hideous point” that he would stop “instantaneously”.

Kritikers have come out in recent days claiming that Nippon Steel’s operations in China threaten its control and pose a “material national security risk.”

” We cannot allow one of the largest American steelmakers to be gobbled up by a foreign entity with ties to the Chinese Communist Party and its military- industrial apparatus” ,Senator JD Vance, Republican of Ohio, &nbsp, told&nbsp, the&nbsp, Financial Times.

Nippon Steel refutes the accusations, claiming that it only has activities that and that no one has access to data about operations outside of China.

Refusal of the deal – also equivocation – is a mistake. Nippon Steel’s buy may lead to US Steel’s development and let its continued operation. It may increase US Steel’s competitiveness, giving the company a more lasting foundation.

Allowing the agreement to proceed would demonstrate that the US is truly committed to monetary co-operation with important allies and partners and the inclusion of their markets in ways that benefit everyone. It would help participation, promoting efficiency and development.

It would serve as an example for other nations as they work to strike a balance between promoting foreign investment and protecting private industries from predation. It would demonstrate that the US is certainly a liar, clinging to international markets without offering the same benefits to its rivals.

This is especially critical for Japan, which has been restructuring its foreign and security policy view to&nbsp, fit more closely&nbsp, with that of the US and be the United States ‘ “global mate”. Chinese companies have made billions of dollars in the US in recent years, and they and their governments are working closely with them to integrate cutting-edge technologies that are essential to management in the twenty-first century.

These demonstrations and signals are becoming increasingly important for US authority and credibility in the Indo-Pacific.

Since 2016, when Obama flinched and let elections bypass proper problems, choices in Washington have contributed to an picture of&nbsp, unreliability&nbsp, among local financial partners.

Withholding the purchase of Nippon Steel, one can confirm that the TPP was not an anomaly, that neither Democrats nor Republicans can be trusted to give the US leadership in economic and, consequently, strategic matters, and that China is willing to cede this important ground.

Washington must address the needs of regional nations as they see them if the US wants to compete with China. Economic opportunities are foremost on their list and they have &nbsp, judged&nbsp, the US to be failing on this vital metric. China is bridging that void.

Of course, no US president can ignore domestic political considerations. Biden does n’t have to. For both political and strategic reasons, he can back the agreement. The parlous state of US Steel is the second most important reason to support the deal, after the strategic justification.

The business has been losing money for years. Not only has it failed to innovate but, &nbsp, explained&nbsp, one industry analyst, US Steel “peaked out in 1916” and “it’s been downhill ever since”, driven by a corporate culture that’s content to be&nbsp, a follower&nbsp, rather than an industry leader. That’s why shareholders&nbsp, voted&nbsp, to approve the deal earlier this month, they know that it’s the best way to revitalize this humbled icon.

Biden should make the case that US Steel will survive if it is sold to Nippon Steel. New management can encourage the company’s modernization and the development of a new mindset in executive offices and workplaces. Japan companies are more receptive to stakeholder interests, rather than just those of shareholders.

They are eager to demonstrate their reliability as partners, and it is in their own ( and the country’s ) best to encourage greater integration between the two economies. That should aid in protecting jobs that unions and politicians who serve them.

Biden should n’t pander to blue- collar voters, peddling untruths about jobs or equivocating until after the election. Both would disprove the notion that US politicians are cynical and untrustworthy, and that lies, errors, or half-truths can be expected from them.

Biden should instead make a direct argument to US voters and US partners that he is aware of the national interest and that this sale offers the best chance to preserve steel jobs. It would n’t correct the error of 2016, but it would prevent making a new mistake among those failures.

Brad Glosserman ( brad@pacforum .org ) is deputy director of and visiting professor at the Center for Rule- Making Strategies at Tama University as well as senior adviser ( nonresident ) at Pacific Forum. He is the author of <a href="https://press.georgetown.edu/Book/Peak-Japan”>Peak Japan: The End of Great Ambitions.

This article was first published by Pacific Forum. It is republished with permission.

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Chinese EV makers zooming by pioneer Tesla - Asia Times

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Given that Tesla’s share price has increased since the start of the time, the stock price has increased on little covering and the return of unwavering optimism.

However, the Beijing International Automotive Exhibition should serve as a reminder that rivals in growing numbers have surpassed the electric vehicle ( EV ) pioneer and are increasingly making it appear like an ordinary car company.

The exhibition, which runs from April 25 to May 5, will feature about 1,500 manufacturers of new energy vehicles ( NEVs ) and components. NEVs include hydrogen gas cell-powered vehicles, electric motors and internal combustion engine variants, and battery-powered electric cars.

According to the event’s organizers, there are 278 NEVs on screen, including 117 fresh ones. 30 of the new models come from foreign businesses, which goes against the animosity shown by American politicians toward China.

Foreign vendors include major NEV companies BYD, Geely and Changan, power EV specialists GAC Aion, Li Auto, Nio and Xpeng, and Xiaomi, a cell phone manufacturer and technology firm that has started selling attached cars.

Huawei and Horizon Robotics, a Chinese company that ranks second only to Nvidia in autonomous driving processing systems, are aspect manufacturers.

European vendors include VW Group models Audi, Porsche and Volkswagen, BMW and Mercedes- Benz, Hyundai and its affiliates Kia, Ford and Japan’s leading three manufacturers, Toyota, Nissan and Honda.

Tesla is not there.

On January 12, 2021, a test vehicle for the Tesla Model Y and Model 3 arrives in Chengdu to encouraged customers for a test drive in Sichuan Province, south of China. Tesla is unavailable, yet, at this year’s Car China 2024. Image: X Screengrab

Toyota and Tencent made the announcement on April 25 that they would work together to create energy cars for domestic consumption in China. Tencent, which has experience in cloud computing, information processing and high- size online services, has turned to autonomous driving ( which it refers to as AD ) as a new development industry.

Google Intelligent Mobility Vice President Shuman Liu notes that,” With its intricate road systems, megacities, deep populations and exclusive traffic behaviors, China … provides richer scenarios, abundant data and greater numbers of unusual and unexpected so- called&nbsp ,’corner cases ‘ essential for the safe and effective evolution of AD technology”. Engineer-talk for a problem outside of the bounds of the core case.

Add to that a distinctive Gen-Z segment that wants to buy a car with Level2 driver assistance functions, and you have ideal training conditions for AD, he says. Toyota will almost certainly use the information it learned in China to expand internationally. Additionally, it is reported that Tencent is working with Audi and Mercedes-Benz.

Nissan, Toyota’s trailblazing rival, and Baidu, a Chinese internet service provider, have signed an MOU to look into working together on self-driving electric vehicles. Nissan has also revealed two new plug-in hybrids and two battery-electric vehicles that it and its Chinese manufacturing partner Dongfeng Motor have developed.

The Volkswagen Group has announced four world premieres in Beijing: the Volkswagen ID, the Porsche Taycan 4, the e-tron, the Lamborghini Urus SE, and the Audi Q6 L&nbsp. Code, a concept car designed exclusively for China. Volkswagen, which first entered the Chinese market 40 years ago, intends to invest 2.5 billion euros in its production and R&amp, D center in Hefei to support joint development of electric vehicles ( EVs ) with Xpeng and the release of 30 new electric vehicles by 2030.

Volkswagen now has 39 plants, more than 90, 000 employees and an almost entirely domestic supply chain in China that includes Horizon Robotics. Its goal is to remain the top foreign car manufacturer in China and one of the top three in the country, where it is currently ranked second only to BYD in sales of all kinds of vehicles. To do that, it must rapidly expand its sales of NEVs.

Meanwhile, Tesla has dropped to third place in the NEV retail sales ranking in China. Data from the China Passenger Car Association ( CPCA ) shows BYD selling 586, 000 units in the first quarter of 2024, Geely 137, 000, Tesla 132, 000 and Changan 126, 000. BYD sold hybrid vehicles in the fourth quarter of 2023, which makes that comparison less relevant. However, BYD also sells battery-powered EVs.

Tesla’s NEV unit sales were down 3.6 % year- on- year while BYD’s were up 15.2 %. Geely’s were up 2.4 times, Changan’s up 2.1 times and SAIC- GM- Wuling’s up 35.2 %. The second tier of Chinese EV manufacturers, with the exception of GAC Aion, also experienced significant unit sales growth.

Tesla’s production and sales in China have dropped for two straight quarters, according to CPCA data. Tesla’s NEV market share in China, which was 7.5 % in the three months to March, no longer supports its standing as an industry leader.

Chart: Asia Times / CPCA data

Tesla’s first- quarter financial results were as bad as preliminary reports had indicated, with sales down 9 % year- on- year and net profit down 55 %. The company’s operating margin declined from 11.4 % to 5.5 %. Operating activities ‘ cash flow decreased by 90 %, and free cash flow decreased.

The main causes of this were the unit shipments’ and the average selling price’s decline. The recall of every Cybertruck shipped since November 2017 to fix a sticky accelerator pedal and the resignation of two senior executives have only added to these issues.

Elon Musk, the CEO of Tesla, is handling the situation by firing more than 10 % of the company’s workforce and conducting a thorough review of operations in order to reduce other costs and increase efficiency. ” This”, he said,” will enable us to be lean, innovative and hungry for the next growth phase cycle”.

That may be true, but the Seagull EV, the basic model from BYD’s mass market, is not. Musk intends to expedite the development of more reasonably priced vehicles, but Tesla’s concept of a low EV price is said to be around$ 25, 000.

Fortunately for Tesla, the US will almost certainly not permit entry of ultra-cheap Chinese electric vehicles into its market. The EU has already slashed import subsidies for electric vehicles ( EVs ) and may have to raise tariffs to prevent them. Although Tesla’s factory in Germany is subject to potential European tariff barriers, it may also participate in the job cuts.

Tesla’s earnings call in January revealed that” the Chinese car companies are the most competitive car companies in the world.” Musk stated to investors and other parties. ” Frankly, I think, if there are not trade barriers established, they will pretty much demolish most other companies in the world”.

Last November, he said,” There’s a lot of people out there who think that the top 10 car companies are going to be Tesla followed by nine Chinese car companies. I think they might not be wrong”. He appears to have been overly optimistic about Tesla’s future rankings at the time.

Follow this writer on&nbsp, X: @ScottFo83517667

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Hong Kong exports rebound despite Sino-US trade war - Asia Times

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After a considerable year-on-year reduction in the same period last year, Hong Kong’s exports and imports rebounded in the first third of this year.

The logistics hub saw its exports rise 11.9 % to HK$ 1.06 trillion ( US$ 135 billion ) in the first three months of this year from a year ago, according to the Census and Statistics Department. Its imports surged 8 % to HK$ 1.14 trillion for the same time. &nbsp,

Neither figure has yet returned to the levels of 2021 and 2022 as the city’s exports and imports fell 17.7 % and 12.7 %, respectively, in the first quarter of last year.

A spokesperson for the Hong Kong government claimed that while exports to the United States and Europe remained on decline, a rise in exports to land China contributed to the rise in total imports. &nbsp,

He claimed that despite improving physical desire, high global geopolitical tensions and limited cash in the financial market will continue to have a negative impact on Hong Kong’s imports. &nbsp,

Michael Li, sin- chairman of the Hong Kong Chinese Importers ‘ &amp, Exporters ‘ Association, said the damaging factors seen in the first quarter of 2023, including the Ukrainian- Soviet war, the US- China social fight and the US rate hike, are fading out.

He claimed that, unless some fresh negative aspects arise, Hong Kong’s exports have returned to normal during the first quarter of this year and are likely to increase by 8 to 12 % for the entire year starting in 2023. &nbsp,

He claimed that the West’s attempt to advance the so-called de-Sinization of the global supply chain failed. He claimed that there were many overseas buyers at this year’s Canton Fair, a trade show held annually in Guangzhou. &nbsp,

According to Chinese press, there were more foreigners attending this year’s Canton Fair, particularly those from Russia, the Middle East, and South America. &nbsp,

Some foreign buyers are drawn to China’s low prices of digital goods and electric vehicles, while some US importers prefer to purchase today because they worry that US-China trade relations will crumble ahead of the US national elections in November.

As Donald Trump threatens to increase tariffs on Chinese goods, according to Ryan Lam, head of research at Shanghai Commercial Bank, some companies are putting their China development plans on hold. However, Lam still anticipated that due to the country’s strong demand for phones and electronic components in foreign countries, its exports would increase by 8 to 9 % this year from 2023. &nbsp,

Trade with Russia&nbsp,

The US and the European Union are increasingly concerned about Hong Kong’s package of northern chips and digital goods to Russia.

In a statement released in April 2023, Nikkei claimed that between February 24 and the close of the year, cards produced by Intel and Advanced Micro Devices from Hong Kong and Russia amounted to at least US$ 74 million. In 2021, it stated that the number would only be US$ 51 million. &nbsp,

In December, the Washington-based analytical non-profit C4ADS reported that Hong Kong and Hong Kong were the main ports of high-end bits to Russia. According to the statement, Hong Kong has already become the world’s main port for cards entering Russia. &nbsp, &nbsp,

The US Commerce Department has previously slapped a number of Hong Kong and Foreign firms that had shipped US high-end technology and cards to Russia over the past two years. &nbsp,

According to a study released by the Hong Kong Trade Development Council, Hong Kong’s exports to Russia increased 11.2 % to US$ 2.66 billion last year from$ 2.62 billion in 2022, accounting for about 2 % of the city’s total imports. &nbsp, &nbsp, &nbsp,

The exported goods include communications equipment and parts, computers, semiconductors, electrical valve and tubes. &nbsp,

Hong Kong imported some precious metals and stones from Russia in 2023, along with electronic gadgets and semiconductors. Credit: Hong Kong Trade Development Council

For the same time, Hong Kong’s exports from Russia surged 118 % to US$ 3.06 billion, 96 % of which were imports of gold and silver items, gems and precious and big- precious stones. &nbsp,

Financial atomic weapons

US Secretary of State Antony Blinken expressed concern about China’s aid for Russia’s military during a meet with Chinese President Xi Jinping on Friday in Beijing. &nbsp,

He claimed that China was providing a range of products, including “dual-use items that Moscow is using to ramp up its defense business bottom,” including microelectronics, chemicals for munitions and jet propellants, and “dual-use items that Moscow is using to ramp up its defence industrial bottom.”

Normal trade between the two countries should n’t be halted or restricted, according to Chinese officials, as long as China does not provide any weapons to Russia.

Janet Yellen, the US Treasury Secretary, warned Beijing officials on April 8 that sanctions could be applied to Chinese banks that support Russia in the wake of its conflict in Ukraine. Because they can forcefully hit the sanctioned banks, these curbs are referred to by the media as “financial nuclear bombs.” &nbsp,

Russian state newspaper Izvestia reported on April 12 that Chinese banks, including Bank of China and Great Wall West China Bank, have recently started preventing payments from Russia, particularly for crucial electronic components like laptops, storage, and servers. &nbsp,

On April 22, a US official told Reuters that the country has no concrete plans to impose sanctions on Chinese banks.

New economic world order

Chinese exporters can only receive payment in renminbi from Russia through either underground banks or a cross-border payment system called Multilines Corp., according to a Chinese columnist by the name of Hong in an article published last month.

He asserts that Multilines is a trustworthy business capable of accepting payments from Russian companies that have been sanctioned. &nbsp,

According to Multilines ‘ website, the company offers full- fledged services that cover the buying, selling, importing, exporting and hedging of precious metals. It has offices in China’s Chongqing and Hong Kong. &nbsp,

Ali Hussnain, chairman and chief executive of Multilines, studied marketing at the Lahore University of Management Sciences in Pakistan. He is also the chairman of the Economic &amp, Business Advisory Council of the Pakistan House, a think tank based in Islamabad and Bronshoj, Denmark. &nbsp,

Muhammad Athar Javed, the founder of Pakistan House, asked Russian President Vladimir Putin in a plenary session of the Valdai International Discussion Club in Moscow in October whether Russia could use its natural resources to create a new economic world order. &nbsp,

Putin claimed that China’s Belt and Road Initiative and the Eurasian Economic Community can work together to overthrow the US dollar’s hold on the global stage. &nbsp,

Read: Blinken to China to fuss about support for Russia

&nbsp, Follow Jeff Pao on X: &nbsp, @jeffpao3

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Why China risks US sanctions arming Russia: Survival - Asia Times

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US secretary of state Antony Blinken fired a warning salvo toward China during a G7 foreign ministers’ meeting on the Italian island of Capri on April 20. The United States’ top diplomat described China as a “prime contributor” of weapons-related technology to Russia, saying Beijing was fueling the “biggest threat to European security since the end of the Cold War.”

Blinken gave further details when he landed in Beijing this week: While China has complied with US requests not to sell arms to Russia during the Ukraine war, the list of items it sells that could have military use is extensive. They include semiconductors, drones, helmets, vests, machine tools and radios.

Apparently, the Chinese resupply of the Russian industrial complex also undermines Ukrainian security. And unfortunately for China, Chinese support of the Kremlin’s war effort is likely to earn Chinese firms sanctions from the US government.

Why is Beijing aiding Moscow so ardently even when imminent US sanctions are likely to aggravate its problems with an already weak economy? One word: survival.

China’s need for allies

China realizes that if it wishes to break the US monopoly on power, it can’t go about it alone. Aside from requiring a strong Russia to help reform the US-dominated international system, China needs Russia for its long-term survival.

There is a famous Chinese idiom: “Once the lips are gone, the teeth will feel the cold.” (The meaning is that when two things are interdependent, the fall of one will affect the other.) Right now, the West is dealing with the Russian rogue state. But if Russia falls, Beijing realizes, the West could consolidate its resources to deal with the “Chinese threat.” Therefore, Beijing must aid Moscow.

At present, presidents Xi Jinping and Vladimir Putin enjoy a close friendship. The closeness of both regimes became more apparent through a joint statement released on February 4, 2022, which declared that there were “no limits” to Sino-Russo friendship and no “forbidden” areas of cooperation.

But let’s get one fact straight: China-Russia relations have not always been rosy. Both the Soviet Union and China experienced massive bouts of tension over the communist doctrine and had disputes over border issues.

Relations became so tense that both communist regimes broke off their formal alliance in 1961, and Chinese and Russian soldiers later clashed in northeast China and the Xinjiang region.

Not surprisingly, there’s lingering distrust on both the Chinese and Russian sides, and Chinese experts fear that Russia may prioritize its own interests over bilateral ties.

For instance, if a renewed Trump presidency does occur, the US may express less support for Ukraine and improve ties with Russia. In such a scenario, the Kremlin may prioritize better ties with the West and may withhold support for China’s struggle against the US.

Incidentally, China’s distrust of Russia and existential concerns may have fueled a recent high-level visit from Beijing to Pyongyang, North Korea. On April 13 2024, China’s top legislator and third-most-senior Chinese communist leader, Zhao Leji, paid an official visit to Pyongyang.

During the meeting with North Korean strongman Kim Jung Un, Zhao claimed that the meeting was meant to reaffirm good relations and deepen bilateral cooperation between the two nations.

So, was Zhao simply making a courtesy call?

The timing of the meeting could not be more curious. It occurred amid surging North Korea-Russia relations. Reports indicate that Russia is purchasing large quantities of munitions from North Korea to fuel the Kremlin’s war effort against Ukraine. This would have brought Moscow and Pyongyang closer together.

The reality is that Pyongyang has traditionally exploited Russian and Chinese rivalry to achieve its goals. The strategy of pitting the Chinese against the Russians comes right off a chapter in the realpolitik playbook.

But the truth is that Beijing cannot afford to lose its influence on North Korea to anyone else, be it American or Russian. This is because China’s security risk hinges on North Korea’s dependence on China.

North Korean threats

That fear is not unfounded. North Korea has a tradition of defying China. Defiance came in the form of the execution of Kim Jung Un’s pro-Chinese uncle, the assassination of Kim Jong Nam in Malaysia or North Korea’s high-profile weapons tests.

More importantly, Beijing fears that if North Korea becomes a fully-fledged nuclear power, it might even detonate nuclear weapons on Chinese soil.

This all sounds strange, since both regimes signed a treaty of mutual defense and cooperation in 1961 that was renewed in 2021. But beneath the veneer of friendship lies deep rooted resentment that has been festering for centuries.

Korea used to be a tributary state to imperial China and played second fiddle to the Chinese for centuries. So when the Chinese interfered with the course of the Korean War, and even normalized ties with North’s primary foe, such actions not only angered North Korea, but also opened up historical wounds of being treated as China’s vassal.

If Beijing wishes to maintain a major foothold in North Korea it needs to contain non-Chinese influence surrounding Pyongyang at all costs. It does so with a two-pronged approach.

First, China sends Zhao to cajole Kim Jung Un and assure the North Korean strongman that Beijing has his back. Second, China sends weapons and technology to Russia so that the Kremlin’s arms dependence on Pyongyang diminishes.

At first glance, Beijing’s supply of arms and technology to the Kremlin may seem unrelated to Zhao’s visit to Pyongyang. But that simply isn’t true.

Chee Meng Tan is an assistant professor of business economics at the University of Nottingham.

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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The smart money has AI in its portfolio - Asia Times

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With their most recent quarterly results, Microsoft and Alphabet, the parent company of Google, have sent a powerful message to investors: investments in artificial intelligence ( AI ) and cloud computing are producing remarkable returns. &nbsp,

The businesses exceeded Wall Street’s predictions, thanks in large part to the exponential rise of AI services, which has boosted cloud income. In late trading on April 25, this news caused a surge in their respective stock prices, with Alphabet rising as much as 17 % and Microsoft rising by 6.3 %. &nbsp,

Traders are confronted with the unquestionable necessity of technology, especially AI, in their investment portfolios as these technology giants continue to compete for supremacy in the AI space.

Every entrepreneur should think about incorporating technology, particularly AI, into their investment mix, given Microsoft and Alphabet’s superb efficiency. &nbsp,

Exceptional growth trajectory

The software industry’s unprecedented growth trajectory is exemplified by the surge in cloud revenue driven by Artificial services. &nbsp,

Microsoft’s Azure sky software reported a remarkable 50 % growth in revenue, driven by strong demand for AI and machine learning solutions. The system, with companies like Azure Machine Learning and Azure Cognitive Services, has empowered companies worldwide to utilize AI for various uses, from predictive analytics to natural language processing.

Use Azure AI to improve supply chain functions and increase customer relationship, driving efficiency and gaining aggressive benefits in their particular industries, companies like FedEx and Coca-Cola have done so.

Also, Alphabet’s Google Cloud Platform experienced substantial revenue expansion, with a large portion attributed to AI- associated offerings quite as AI- driven analytics and machine learning tools. These figures show the enormous industry possible for tech companies and the widespread implementation of AI technologies across all sectors.

Alphabet’s Program offers a collection of AI- driven solutions, including Google Cloud AI and TensorFlow, enabling organizations to harness the power of AI for data research, picture recognition and more.

Companies like Airbus and Spotify have benefited from Google Cloud AI to improve product recommendations and streamline manufacturing procedures, opening up fresh opportunities for growth and innovation.

Competitive advantage&nbsp,

Microsoft and Alphabet are battling it out for the top spot in the AI market, utilizing their strengths to gain a competitive edge. &nbsp,

The bold moves made by tech giants to cement their market positions and leadership are exemplified by Microsoft’s strategic partnership with startup OpenAI to challenge Google’s longstanding dominance in internet search.

As these businesses keep up their innovation and advance their AI capabilities, strengthening their positions as market leaders in the tech sector, giving them attractive investment opportunities worldwide.

For instance, Microsoft’s purchase of LinkedIn and GitHub has further strengthened its AI capabilities, enabling the integration of AI-driven features into these platforms to enhance user experiences and promote business growth.

Microsoft’s use of AI to deliver value to its users and stakeholders is just one example of how Microsoft is leveraging AI to create value.

Meanwhile, Alphabet’s DeepMind, a leading AI research lab acquired by Google in 2014, has made significant strides in AI research and development, with breakthroughs in areas such as reinforcement learning and natural language understanding. &nbsp,

AlphaGo, an AI-powered game that can play the board game Go at a level that is beyond the reach of artificial intelligence, is a work of art for DeepMind.

Diversification and resilience

Integrating technology, particularly AI, into investment portfolios provides diversification advantages and protects portfolios from technological disruptions. &nbsp,

Tech companies have shown resilience and adaptability in surviving tumultuous economic climates, making them strong long-term investment opportunities. &nbsp,

In the face of market uncertainty, investors who invested in tech stocks like Microsoft and Alphabet reap the rewards of their robust performance. &nbsp,

Additionally, exchange-traded funds ( ETFs ) and mutual funds that are AI-focused give investors access to a variety of businesses that are advancing AI innovation, enabling them to capitalize on AI’s transformative potential across a range of industries.

Thursday’s impressive earnings reports showcasing Microsoft and Alphabet’s triumphs, for me, demonstrate the indispensability of tech and AI in investment portfolios. &nbsp,

Investors who are serious about investing should take into account the opportunities the tech sector presents to maintain financial stability and resilience in an increasingly digitalized world as the pace of technological advancement increases.

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