Hong Kong exports rebound despite Sino-US trade war – Asia Times
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.  ,
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.  ,
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.  ,
Michael Li, sin- chairman of the Hong Kong Chinese Importers ‘ &, 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.  ,
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.  ,
According to Chinese press, there were more foreigners attending this year’s Canton Fair, particularly those from Russia, the Middle East, and South America.  ,
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.  ,
Trade with Russia ,
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.  ,
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.  ,  ,
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.  ,
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.  ,  ,  ,
The exported goods include communications equipment and parts, computers, semiconductors, electrical valve and tubes.  ,
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.  ,
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.  ,
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.”  ,
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.  ,
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.  ,
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.  ,
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 &, Business Advisory Council of the Pakistan House, a think tank based in Islamabad and Bronshoj, Denmark.  ,
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.  ,
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.  ,
Read: Blinken to China to fuss about support for Russia
 , Follow Jeff Pao on X:  , @jeffpao3
Why China risks US sanctions arming Russia: Survival – Asia Times
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.
Deputy PM denies Thaksin influence in cabinet rejig
PUBLISHED: 27 Apr 2024 at 04: 00
Former prime minister Thaksin Shinawatra was denied by Deputy Prime Minister Phumtham Wechayachai yesterday that he had a claim in the upcoming cabinet reshuffle, adding that Thaksin had not been present at a crucial meeting on Thursday.
Mr. Phumtham made reference to a conference held by the Shinawatra family’s elite resort, the Rosewood Hotel, between himself and Prime Minister Srettha Thavisin.
The couple met with the reported Pheu Thai Party de facto leader to set up a new case, according to reports.
The deputy prime minister claimed that the government line-up changes were not discussed during the meeting.
Mr Phumtham said the meeting, even attended by Prommin Lertsuridej, secretary- common to the prime minister, touched on several other problems, including a planned visit to Chanthaburi now, free trade agreements, and unlawful, undetected, and illegal ( IUU) fish.
When questioned about the very speculative change, the Pheu Thai veteran politician remained obnoxiously pessimistic. No alliance partners had suggested any modifications, he claimed, and it was off to Mr. Srettha.
Pichai Chunhavajira, who is currently an adviser to Mr. Srettha, resigned from his positions as the president of the Stock Exchange of Thailand, the electricity company Bangchak Corp, and the solar energy producer BCPG Plc. He has a strong chance of succeeding Mr. Srettha in his position as the new finance minister.
Meanwhile, Prawit Wongsuwon, the leader of the Palang Pracharath Party ( PPRP ), yesterday declined to provide information about the cabinet reshuffle regarding the party’s quota. When asked about information that four titles had been submitted, Mr. Prawit insisted that just one participant had been chosen.
When asked if it was Chachoengsao MP Atthakorn Sirilatthayakorn, he denied it before changing his answer to” I do n’t know. I’m no telling”.
A deputy secretary status in a government that has not yet been chosen has been reported to be available to the PPRP.
Anan Phol-amnuay is one of the allegedly chosen candidates for governmental posts.
PM urges vigilance after Covid-19 surge
PUBLISHED: 27 Apr 2024 at 04: 00
After infections soared during Songkran, Prime Minister Srettha Thavisin has given an order to native authorities to track Covid- 19 instances.
The prime minister and public health officials had raised fears about the possibility of a new pandemic, according to Deputy Prime Minister’s Office spokesperson Kenika Ounjit yesterday.
She claimed that if that transpired, regional officials had been instructed to make sure hospitals were prepared for possible people.
People who have cold-like symptoms are advised to wear a face mask in public, wash their hands frequently, and do an ATK screening test. People who fall under the so-called “608 at-risk party,” which includes older people, pregnant women, and those with seven high-risk illnesses, are advised to avoid contacting them.
Covid- 19 is now a communicable disease under the supervision of the Communicable Diseases Act, BE 2548 ( 2015 ), according to Ms. Kenika.
According to the Department of Disease Control ( DDC ), 1, 004 Covid- 19 people were hospitalised during April 14- 20, averaging 143 people a day. Most of the circumstances, according to the review, were in Bangkok and major holiday regions.
The DDC said that of those poor among the 608 at- chance people during this time, three succumbed to the condition, 292 suffered from pneumonitis, and 101 needed induction.
The National Institute of Health ( NIH) director Dr. Atchawin Rodjanawat reported that the majority of Covid- 19 circumstances discovered this time are now in the JN. 1 sub- feature, with at least 90 % identified with the thread- variant since January.
This Omicron sub-variation is discovered in the examples that the NIH collected from about 20 people per year.
The Global Initiative on Sharing All Influenza Data ( GISAID ) record, which states that this variant can now be found worldwide, is linked to the data.
Dr Manoon Leechawengwongs, a cardiologist at Vichaiyut Hospital, said that despite the new thread- variant, the disease is now of poor severity, with the symptoms generally being infections in the middle part of the breathing tract, or throat and nose, rather than an infection in the lower part of the system– the lungs and bronchia.
The DDC has reiterated the need to wear face masks in people.
18 nations implore Hamas
PUBLISHED: 27 Apr 2024 at 04: 00
The minister of foreign affairs on Thursday issued a joint declaration to the leaders of 18 nations urging the transfer of captives held in Gaza.
The declaration, made by the rulers of Argentina, Austria, Brazil, Bulgaria, Canada, Colombia, Denmark, France, Germany, Hungary, Poland, Portugal, Romania, Serbia, Spain, Thailand, the United Kingdom and the United States, called for the quick transfer of all hostages held by Hamas in Gaza, for over 200 days, including their own people.
The victims and the civilian populace in Gaza, who are protected by international law, are also mentioned in the article’s title.” The situation is of international concern.
We make it clear that the hostage release agreement would result in an immediate and protracted ceasefire in Gaza, facilitate more urgent humanitarian aid delivery throughout the region, and put a credible end to hostilities at hand.
Gazans would be able to return to their homes and land with procedures in advance to ensure house and humanitarian aid.
We firmly believe that the intervention efforts are still being conducted to bring back our citizens. We call on Hamas to relieve the hostages, and we need to put an end to this issue to allow us to concentrate our efforts on bringing peace and stability to the area.
Srettha Thavisin, the prime minister, announced on his X bill on Thursday that he had joined the statement calling for the discharge of all captives, including eight Thai citizens.
The top said,” I view this matter as an immediate humanitarian issue and will continue to do my utmost to ensure the safety and transfer of our Thai citizens so that they can gain home as soon as possible.”
Sultan visiting to discuss ties
PUBLISHED: 27 Apr 2024 at 04: 00
Brunei’s Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah may make an official visit to Thailand on April 28 and 29 as a government guest.
According to the Ministry of Foreign Affairs, the Sultan may be traveling with His Royal Highness Prince Abdul Mateen.
King Maha Vajiralongkorn Phra Vajiraklaochaoyuhua and Queen Suthida Bajrasudhabimalakshana may be accompanied by the Sultan during the visit, and the Sultan did have a royal visitors as well.
He may attend Government House to hear the signing of two Agreements between various organizations from the two locations and keep bilateral deals with Prime Minister Srettha Thavisin.
According to the ministry, Mr. Srettha may also host a unique dinner in honor of his devoted guests.
On January 1, 1984, Thailand and Brunei started political ties. The Sultan’s first state visit since 2012 may be their most notable moment of festivity after 40 years of successful connection.
It is also expected to provide a great opportunity for both countries to expand cooperation in some areas of common interest, in certain trade investment, the muslim industry, tourism, the electronic economy and people- to- people ties.
According to the government, both sides will be able to explore local cooperation and exchange ideas on international issues.
Columbia University president faces vote of confidence as protests spread
TEXAS Collision Jay Hartzell, leader of the University of Texas at Austin, received a similar reaction from university on Friday, two days after he and Republican Governor Greg Abbott called in officers to scuttle a pro-Palestinian demonstration. Charges against the majority of the activists were dropped the following morning despiteContinue Reading
Blinken says China helping fuel Russian threat to Ukraine
BBC/Wang XiqingIf China does n’t stop providing Russia with goods used in its assault on Ukraine, US Secretary of State Antony Blinken has warned Washington will take action.
The US’s best minister told the BBC in Beijing that he had made it clear to his peers that they were “helping energy the biggest danger” to Western security since the Cold War.
He did not specify what steps the US was prepared to take.
However, Mr. Blinken was even eager to point out that some improvements had been made.
He praised Beijing for making efforts to stop fentanyl’s supply reaching the US.
The US continues to have the primary cause of fentanyl in China, which the White House claims is causing a national health issue.
Mr. Blinken added that he thought Beijing could play a” creative” role in the Middle East, pointing out that China could use its relationship with Iran to “inspire” Israel against a further increase in its conflict with Israel.
The visit by Mr. Blinken, who made the second one in ten months, is a major improvement in politics and speech between these two rival countries as they try to keep things on a level playing field after a year of intense unrest.
China’s promises to Taiwan and the South China Sea and US export restrictions on superior technology have strained bilateral relations between Washington and Beijing. A column over a detective bubble in February caused them additional damage.
A recent US law was passed that, according to Mr. Blinken, had never discussed this during his meeting with China’s President Xi Jinping, would require the highly-anticipated video app to be sold or been banned in America.
Mr Xi- who met Mr Blinken on Friday evening in Beijing’s Great Hall of the People- agreed the two edges had “made some good development” since he met his US rival, Joe Biden, in November.
He added the countries may “be lovers, not adversaries”, saying that if the US took” a good perspective of China’s development”, relationships was” really stabilise, getting better and move forward”.
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BMA to spruce up busy pedestrian areas
To have more resilient areas and better mobility on footpaths in high-traffic areas.
PUBLISHED: 26 Apr 2024 at 20: 11
A program to upgrade footpaths along 16 routes in densely populated areas of Bangkok has been initiated by the Bangkok Metropolitan Administration ( BMA ).
Aekvarunyoo Amrapala, a spokeswoman for BMA, led an inspection tour of the pavements along Ratchadamri and Phloenchit roads on Friday that are being renovated to meet a new strength and health regular and show universal style for accessibility.
He claimed that the BMA’s goal was to improve all 1, 000 kilometers of pavement.
The second step of the program will include roads with heavy commuter transportation including Sukhumvit, Rama IV, Silom, Charoen Krung, Yaowarat, Ratchaprarop, Phetchaburi, Ekamai, Sutthisan, Choke Chai 4 and Sena Nikhom.
According to Mr. Aekvarunyoo, streets in densely populated city areas will have new bricks on reinforced concrete. Some will also display artistic decoration.
Paved adhesive walkways will be used in residential areas like Phuttha Bucha Road in Thung Kru city and Khum Klao Road in Lat Krabang.
The creation will include the bridges for Thang Rotfai Sai Kao Paknam, Phutthamonthon Sai 1, and Chaloem Phra Kiat.
The BMA intends to renovate the road on another 38 routes this time, followed by 22 the following year.
Changes will also include the 500 km BKK Running Trail and the areas that surround all skytrain channels, in addition to the densely populated areas.
The BMA is returns walkways that are damaged by public power work, acting on issues submitted via its Traffy Fondue , game, said Mr Aekvarunyoo.
The Bangkok Emergency Service Team ( Best ) was created to respond to urgent requests to repair footpaths that were damaged.
Roads in streets will also be upgraded to produce walking easier for walkers, he added.
Four men arrested after fight involving weapons along Prinsep Street
Following a fight involving weapons along Prinsep Street, four men in their 20s were detained in Singapore on Thursday ( April 25 ).  ,
At 12.40am, police were called to the affair, and when they arrived at the scene, they spotted two wounded men.  ,
The Singapore Police Force ( SPF ) stated in a news release on Friday that preliminary investigations revealed that the two men, 23 and 24, were allegedly attacked by another group of men after a fight.  ,
One of the attackers reportedly used a karambit knife to attack the victims.  ,
Those responsible were detained the following morning after being identified by police officers through ground searches and police camera footage.
Both patients were awake when they were admitted to the hospital.  ,
Three of the men, aged between 21 and 23, will get charged in court on Saturday , with deliberately causing hurt by dangerous weapons.
If convicted, they face prison of up to seven years, or with a great, or with punishment, or with any mixture of such consequences.  ,
Studies against the remaining 23- yr- older are continuing.  ,