Tessa Dann to lead SocGen’s Apac sustainable finance team | FinanceAsia

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Tessa Dann has been appointed head of sustainable finance, Asia Pacific ( Apac ), effective September 14, according to a Société Générale ( SocGen ) Corporate and Investment Banking spokesperson.

Based in Sydney, Dann ( pictured ) most recently held the role as head of sustainable finance for Australia and New Zealand at SocGen, since 2023. She has experience at the Queensland Treasury Corporation as well as working in the sustainable finance department at Australia and New Zealand Banking Group ( ANZ ) for almost four years prior to joining the French bank.

In her new position, Dann reports to Paul-Antoine Thiebot, head of lasting and positive effects financing, Apac. In March, Thiebot, who has a base in Singapore, joined the French institution.

The team has recently acted as bookrunners in the Commonwealth Bank of Australia’s €1 billion ($ 1.1 billion ) 10NC5 green Tier 2 notes issuance in May 2024. It also acted as a sustainability coordinator on the conversion of Australian property firm Cromwell’s multi-bank A$ 1.2 billion ($ 811 million ) lending facility to a green and sustainability-linked loan in June 2024.

By 2025, SocGen intends to donate €300 billion to sustainable funding.

In Apac, SocGen has headquarters in mainland China, Hong Kong, Australia, Japan, India, South Korea, Singapore, Taiwan, Indonesia, Malaysia and Vietnam, according to its site.

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China says new US tariffs ‘compounding its mistakes’ – Asia Times

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After the United States finalized its tariff increases on Chinese goods, including electric vehicles ( EVs ), batteries, solar panels, metals, and medical tools, Beijing has pledged to take measures to protect Chinese firms ‘ interests. &nbsp,

Following Section 301 tariff investigations, the Office of the United States Trade Representative ( USTR ) announced on September 13 that it will continue with its previously proposed tariff increases on imports from China. &nbsp,

From September 27 this month, the US will establish a 100 % tax on EVs and a 50 % tax on solar cell, syringes and needles imported from China. It will also impose a 25 % tariff on China’s facemasks, battery parts ( non-lithium-ion batteries ) and lithium-ion EV batteries, critical minerals, ship-to-shore cranes and steel and aluminum products.

The US will start imposing a 50 % tax on Chinese-made health gloves and electronics starting in 2025. From the beginning of 2026, the US will impose a 25 % tariff on China’s lithium-ion non-EV batteries, natural graphite and permanent magnets, a 50 % tariff on facemasks and also a 100 % tariff on medical gloves. &nbsp,

These tax increases, which cover imports worth US$ 18 billion from China, have mostly been unchanged from those that the Biden administration announced on May 14.

The USTR stated on September 13 that it made its decision after taking into account public feedback and the recommendations of the Interagency Section 301 commission and other acceptable advisory boards. &nbsp,

China has consistently made significant representations to the US side regarding Area 301 tariffs, and the WTO has already determined that these taxes are against the rules, according to a spokesperson for China’s Ministry of Commerce. ” Instead of addressing this, the US has further increased tariffs on Chinese products, compounding its mistakes” .&nbsp,

The US Section 301 tariff increase, according to the spokesperson, is standard unilateralism and protectionism that drives up the costs of US imports while finally being borne by US businesses and consumers.

The Chinese Commerce Ministry released its 2024 Report on US compliance with the World Trade Organization ( WTO ) on September 12. The statement expressed grave concern about the US’s alleged misuse of Section 301 to impose tariffs on Chinese goods, claiming that the US “disrupts world business and provide chains”.

Additionally, it criticized the US for defaming the multilateral trading system, engaging in punitive trade bullying, imposing double standards on professional policies, and stifling the global commercial and supply chains by politicizating and using economic and trade issues by using a “tariff baton” under the guise of “de-risking.”

According to the China Council for the Promotion of International Trade (CCPIT ), Section 301 tariffs violate WTO guidelines and severely impair the trust of the relevant Chinese and US industries in long-term, stable cooperation.

Tech income

The Office of the USTR’s latest announcement said Chinese semiconductors that will be subject to a 50 % import tariff include diodes, transistors, photosensitive semiconductors, processors and controllers, integrated circuits ( memories, amplifiers and others ) and parts of integrated circuits and microassemblies. &nbsp,

But, CITIC Securities said the US price hikes will not have a big impact on China’s semiconductor industry. It said China’s export of semiconductors to the US amounted to 22.7 billion yuan ( US$ 3.2 billion ), or only about 1.65 % of China’s total exports of semiconductors of 13.78 trillion yuan in 2023. &nbsp,

Another analysts claimed that Taiwanese thermal product manufacturers are more affected by overcapacity than US tariff increases.

There has been hardly any immediate import of solar panels from China to the US in the past 12 years, according to Lu Jinbiao, deputy director of the expert council of the Beijing branch of the China Nonferrous Metals Industry Association, who spoke to Yicai.com.

He claimed that since the US began an anti-dumping exploration into Chinese renewable batteries and units in October 2012, Chinese manufacturers have rerouted their production traces to Southeast Asian nations like Cambodia, Thailand, Vietnam, and Laos to avoid additional US tariffs.

In order to provide US providers more time to build their domestic production capacity, the Biden administration extended a tax deduction for renewable product producers in the four Southeast Asian nations by two years in June 2022. &nbsp,

After the deduction expired on June 6 of this year, US manufacturers of solar materials from the four nations are now required to pay an additional 14.25 % work. &nbsp,

Lu said some manufacturers of Taiwanese renewable energy might choose to relocate to the US to prevent additional tariffs while others might be in Southeast Asia. He claimed in an interview with Caixinglobal.com that the bigger issue in China’s thermal product sector is a price war brought on by overcapacity and fragile global demand. &nbsp,

He claimed that some Chinese thermal product manufacturers have since lost money as a result of the decline in silicon prices from 300,000 yuan per lot two years ago. He claimed that since the third quarter of last year, costs of solar chips, cell, and components have fallen by more than 50 %. &nbsp,

Longi Green Energy Technology, China’s thermal chip maker, reported a net loss of 5.2 billion yuan in the six month ended June 30 this year, compared with a net income of 9.2 billion yuan a month earlier. &nbsp,

A solar body manufacturer, TCL Zhonghuan Renewable Energy Technology, recorded a net loss of 3 billion yuan in the first quarter, compared to a 4.5 billion yuan earnings in the same time of last year. &nbsp,

Read: Germany invests more in foreign companies than China.

Following Jeff Pao on X: &nbsp, @jeffpao3

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Govt nominates Kittiratt for Bank of Thailand board chair: sources

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Government anxious to see interest rates cut as the economy struggles

Described: 16 Sep 2024 at 21: 50

Thailand's former deputy premier and finance minister Kittiratt Na Ranong (Photo: Government House)
Thailand’s former deputy premier and finance minister Kittiratt Na Ranong ( Photo: Government House )

In response to a protracted rift over interest rates, the government will seek to appoint a member of the ruling party who will criticize the governor of the Bank of Thailand ( BoT ) as its chair, according to two sources.

According to the resources who have access to the information, the Pheu Thai Party-led state is supporting 66-year-old former assistant top and finance secretary Kittiratt Na Ranong for the position. Mr Kittiratt’s election has yet to be reported by advertising.

Mr. Kittiratt and the then-central bank government had frequent arguing over economic policy while serving as finance minister from 2012 to 2014.

In recent months, he has backed the latest government’s requirements for a price cut, as it seeks to revive a mumbling business that grew only 1.9 % last month.

The BoT raised the standard price for an seventh straight conference to a decade-high of 2.50 %, where it has since remained, despite repeated enquiries for easing, just days after the nationalist Pheu Thai returned to power in September 2023.

The BoT claimed it had nominated two candidates for the position but declined to disclose them, while Mr. Kittiratt did not immediately respond to a request for comment. The funding ministry’s permanent secretary declined to comment.

A seven-member screen, independent of the central banks, will make the selection of the three elected candidates in the coming weeks and may require the approval of the finance secretary, cabinet, and king.

The government, two assistant rulers, and four outside specialists are chosen by the table they lead to decide the central bank’s interest rate plan.

The chair will also have some impact on the selection of the following BoT main when the former, Sethaput Suthiwartnarueput, completes his phrase in September 2025.

Rates column

The BoT claims that structural issues caused the country’s growth rate to be at negative rates and that it was not at its potential.

Mr Sethaput has maintained that, while a rate reduce may provide a short-term pull to the market, it was not an effective trade-off&nbsp, for the longer-term unexpected effects it could have.

The BoT’s unwillingness to budge on charges has drawn criticism, including from Pheu Thai’s head Paetongtarn Shinawatra, elected prime minister next month, who described the main company’s freedom as an “obstacle” in May.

Even as the state struggles to restart growth in Southeast Asia’s second-largest market, Commerce Minister Pichai Naripthaphan once more demanded that the central bank cut interest rates to improve cash on Monday.

The BoT will conduct qualification checks for the three head nominations, which may take two weeks, according to choice committee head Sathit Limpongpan.

The council will match after the testimonials are finished, and it will hold a second meeting before the middle of October, he told Reuters.

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Precarity trap: Gig economy failing Asia’s youth – Asia Times

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Youth in the Asia-Pacific area are extremely concerned about the perilous work situation, with a growing number of young people finding themselves in temporary work without social security or long-term deals.

In Southeast Asia and the Pacific, over 28 % of children were working temporarily without financial security and social privileges in the document Global Employment Trends for Youth 2024 from the International Labor Organization.

This circumstance not just undermines the financial stability of people, but it also has significant effects on the state’s leads for long-term economic growth.

International changes, outlined in the ILO’s report, show that temporary jobs in the region has been rising since the early 2000s. Although adaptable, these jobs often provide long-term agreements, leaving younger workers without access to important benefits like medical and pensions.

In places like Indonesia, the Philippines, and Vietnam, the gig economy has more exacerbated the problem by creating accommodating but often unpredictable work. More than 44 % of Indonesian children are reportedly employed in the informal sector, frequently without arrangements, which makes it difficult for them to obtain social security or monetary stability.

The pressures that children are subject to also increase as a result of social expectations. In some Asian countries, steady employment is seen as a symbol of personal and social victory. This cognitive dissonance, but, causes emotional stress for some younger people who can only secure vulnerable jobs.

For instance, in South Korea and Japan, the societal pressure to find permanent jobs has increased in the number of mental health issues, including a noteworthy rise in youth suicides.

Technology, which was first seen as a gateway to new job prospects, has also played a part in expanding the uncertainty of these tasks.

Although the gig economy has opened up new employment opportunities for young people, particularly in the fields of logistics and transportation ( like Gojek and Grab drivers ), these positions come with significant financial hazard because of the absence of social security. Many of these employees rely on fluctuating desire, which results in unexpected income.

However, systems also holds the potential for revolutionary solutions. To improve transparency and offer better protection for gig workers, blockchain technology and intelligent contracts are being looked into.

These websites can make sure that employees are given timely payments and have access to fundamental social security benefits. In order to incorporate these safeguards into their job market frameworks, nations like Singapore are looking into collaborations with technology companies.

Precarious employment even poses obstacles to social mobility. Youth who are confined to temporary or casual jobs frequently lack access to training or advancement opportunities, which makes it challenging for them to change into more stable and well-paying positions.

This exacerbates intergenerational inequality, specifically for those in lower-income organizations. In order to address this, empowering and mentoring initiatives must be prioritized to enable youth to transition to industries like alternative energy and information technology with better job security.

Governments in the Asia-Pacific area want to improve interpersonal protections for younger workers, including expanding access to healthcare and pension plans for those in the informal sector, at the coverage level.

The establishment of more stable employment in the conventional business might be aided by tax opportunities for companies that offer long-term contracts to younger workers. Also, educational and vocational initiatives need to be more in tune with demands coming from the labor market in the future.

With a more integrated approach—combining open plan, technological innovation, and cultural change—the Asia-Pacific area can create a safer and more diverse labour market for children, paving the way for sustainable economic growth in the long term.

Setyo Budiantoro is a fellow at the Massachusetts Institute of Technology ( MIT ), Nexus Strategist The Prakarsa, and IDEAS Global Program Fellow.

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Australia can’t afford an AUKUS about-face – Asia Times

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Since the United States, Australia, and the United Kingdom made the announcement on September 15, 2021, that they would form a safety agreement known as AUKUS, three years have passed.

The US and the UK aided Australia in purchasing nuclear-propelled boats, which was a significant component of the package. The Morrison government’s controversial decision resulted in the government’s backing away from a$ 90 billion offer to purchase 12 boats from a French firm.

The AUKUS deal has recently drawn a lot of criticism from previous prime ministers Malcolm Turnbull and Paul Keating, former foreign minister Gareth Evans, and some in the internet.

Five key arguments against AUKUS have been the subject of criticism:

  • the alliance increases the chance of war with China.
  • Australia does n’t need nuclear-propulsion submarines
  • Our relatives in Southeast Asia are uncomfortable because of the deal.
  • it draws us back to the Anglosphere’s past, tightly tying us to the US and UK.
  • the forecast cost of the submarines, between A$ 268 ( US$ 180.2 billion ) and A$ 368 billion, is unconscionably high.

However, each of these statements is based on falsehoods. How’s why.

1. AUS makes conflict more likely.

Some reviewers argue that by acquiring nuclear-propulsion boats, Australia will help a more hostile tone by the US towards China, somewhat over Taiwan. And this makes war more probable.

However, this disproves the fact that the United States is aware of its own limitations and the dangers a controversial method might entail.

Some argue that AUKUS encourages a military-industrial advanced that supposedly makes Australia more of a&nbsp, dependent&nbsp, – more than&nbsp, independent&nbsp, – ally to the US. And this devalues Asian involvement in local or international security matters.

In this depressing view, Australia is expected to unquestionably help the US in a potential conflict with China over Taiwan. Additionally, it ignores the possibility that a war does not break out, with China holding out for Taiwan rather than seizing it.

As security analyst Peter Dean has observed, the controversy over Taiwan’s safety is” an argument without context”. It ignores the importance of Australia’s own geographical protection plan. Whether or not we’d help the US in a battle, Dean says, is the wrong topic in the incorrect discussion.

This assumption that AUKUS increases the likelihood of war also misinterprets the subtle nature of punishment, for which credible force is required.

However, realists frequently acknowledge that frailty invites invasion, even aggression. By giving would-be aggressors pause for thought and, if they do n’t, to impose such expenses on an opponent, they fail to accomplish their goals. This is the whole purpose of having a defense force.

Conflicts are greater now than they have been in years. And as tactical research specialist Brendan Taylor argues, there are at least four display items in Australia’s place: Korea, the East China Sea, the South China Sea and Taiwan.

In order to protect and promote the region’s growth, Australia has a vested interest in preserving peace and stability. As issues in recent years in Ukraine and the Middle East have shown that effective and warning skills have become extremely successful at achieving this.

So, the AUKUS deal should n’t be seen as provocative. Instead, it maintains powerful deterrence in the region. Our companions are aware of that.

A nuclear-powered strike underwater of the Virginia class is stationed at HMAS Stirling Naval Base in Western Australia in August 2023. &nbsp, Photo: Richard Wainwright / AAP via The Talk

2. Australia does n’t need nuclear-propulsion submarines

This story persists despite mounting information. Because its aging ship of diesel-electric engine submarines is now vulnerable to flying monitoring and strikes, Australia is interested in nuclear-propelled submarines.

Most of Earth is then covered by low-earth polar circle satellites. A determined attack can identify the wake of conventional underwater channels when they raise their snorkels to recharge their batteries thanks to the combination of armed drones, artificial intelligence, and design research.

Diesel-electric submarines are no longer so valuable where much transits are involved because cunning had been their sole advantage over area warships.

Without a single snort, Australia’s diesel-electric submarines cannot leave from any significant domestic or international port and set foot in Western Australia. And each snort poses a significant risk of detection. This leaves nuclear propulsion as the only practical choice for nations like Australia and the United States that have long oceans to travel through.

Operationally, nuclear-propulsion submarines have other considerable benefits. For one, they can travel faster ( about 20 knots on average instead of 6.5 knots ). The transit time from Fremantle to the Strait of Malacca, therefore, drops from 18 days to just six days.

A few subs can be kept in place with a few more that can move ( away from danger or to a new surveillance location ) at breathtaking speed because of the faster transit speeds.

The nuclear-propulsion submarines can also stay underwater “on station” ( at an assigned patrol location, say, the Malacca or Lombok straits ) for longer. A fleet should also be able to be deployed three times longer than Australia’s current submarines, remaining undetected without needing to recharge batteries.

https://twitter.com/RichHeydarian/status/1635537704296517633?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1635537704296517633|twgr^f32ec1e798f0ef776ce06e5c88631daa779bc59c|twcon^s1_&ref_url=https://theconversation.com/australia-cant-afford-an-aukus-about-face-5-things-the-critics-are-getting-wrong-238219

3. The neighbors do n’t like it

Official reservations about AUKUS in public declarations are entirely understandable, given Indonesia’s “free and active” foreign policy.

Yet, the new enhanced defense pact signed by Australia and Indonesia on August 29 suggests that Indonesia, like the Philippines, Singapore, and Vietnam, is quite comfortable with Australia engaging in AUKUS and with its neighbors concurrently.

4. Regional engagement is undermined by the focus on the Anglosphere.

Due to its historical and cultural ties to the United Kingdom and its geographic position in the Asia-Pacific, Australia was once referred to as a” torn country.”

However, Australia is still at a point where it can successfully balance its physical place in the world with its Anglosphere roots. Arguably, it’s a key factor making it attractive for foreign students and migrants, luring them away from UK and US alternatives.

Foreign Minister Penny Wong’s diplomatic accomplishments also refute the notion that AUKUS’s support for our neighbors diminishes. Such claims were made fun of at recent summits with leaders from the Pacific Islands Forum and the Association of South East Asian Nations.

Even France, the most slighted out of the AUKUS deal, has gotten over it because Australia matters to its Indo-Pacific claims.

Indeed, Labor’s election victory in 2022 allowed for a convenient reset in relations. This is best illustrated by the recently updated trilateral “FRANZ” agreement between France, Australia, and New Zealand.

5. The cost is unconscionable

A cost of up to A$ 368 billion over 30 years sounds like a lot. However, due to the Air Force and Army having to make cuts, this money is unlikely to be fully utilized because other efficiencies may arise and because defense is using its existing budget to pay for the submarines.

Significant budget increases are anticipated to occur for a number of years, with only incremental increases occurring.

To be sure, the government must grapple with competing demands for missiles, aircraft, drones and other fighting systems. As retired lieutenant general Peter Leahy pointed out, military readiness requires additional funds in the event of uncertainty.

Ironically enough, however, increased reliance on US-sourced technology is key to enabling a more self-reliant defense posture.

Australia takes pride in maintaining a high level of interoperability with the US military as part of its commitment to providing a top-notch technological edge. When it comes to military equipment and uniformed personnel, this is meant to make up for its lack of quantity.

Under AUKUS, the US is transferring the know-how to build, maintain and operate the nuclear-powered submarines in Australia. This relies on reliable access to the most cutting-edge US military technology, which builds on more than 80 years of intergovernmental cooperation in intelligence matters.

If the US proves unwilling or unable to participate as actively in the neighborhood as we might like in the future, these advanced systems are crucial.

Balancing interests

What Rory Medcalf, the ANU National Security College head, refers to as” the Australian way of war and peace” as recently as it has become known. This signifies that Australia is respectfully but steadfastly asserting its rights, safeguarding its interests, and inspiring other nations to follow.

In weighing up Australia’s interests, we must look beyond the critiques. There is no need for another submarine “outside” at this time.

The need to maintain a course is highlighted by the geopolitical context and recent developments in technology.

The Australian National University’s Strategic and Defense Studies Centre is led by John Blaxland, a professor.

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

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Shanghai hit by strongest typhoon in 75 years

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As a strong storms made landfall near China’s economic hub, Shanghai, hundreds of thousands of people were evacuated.

Typhoon Bebinca hit at about 07: 30 local time ( 23: 30 GMT ) on Monday in the coastal area of Lingang New City in Shanghai’s east, the China Meteorological Administration said.

According to Chinese state advertising, it is the strongest storm to strike Shanghai in 75 times.

As a caution, more than 400, 000 people in the Shanghai Metropolitan region were relocated by Sunday night, according to local authorities.

A more 9, 000 people were forced to leave Shanghai’s Chongming District, an area at the lips of the Yangtze River, for good.

Due to the city’s two major airports, which grounded all planes, lots of flights were canceled. Additionally, bridges were closed, and train service were suspended. A 40km/h ( 25mph ) speed limit was imposed on roads inside the city.

Shanghai’s 25 million people had been advised to stay house ahead of the tide’s appearance.

Authorities issued a red alert for Bebinca, the highest level, as wind speeds of up to 151km/h ( 94 mph ) were recorded at the typhoon’s eye.

Solid typhoons, which typically make landfall further north in China, are not uncommon for Shanghai to experience.

The state’s flood control office reported receiving dozens of reports of incidents involving the typhoon, typically caused by fallen branches and billboards.

Shanghai Disney Resort, Jinjiang Amusement Park, and Shanghai Wild Animal Park are among the temporary closures and suspension of several boats in Shanghai.

Another typhoon, Yagi, killed at least four people and injured 95 when it passed through China’s southern Hainan island this month, according to national weather authorities.

Yagi also caused severe flooding in Southeast Asia, killing hundreds of people in Vietnam and Myanmar.

Typhoon Bebinca even passed through Japan and the central and southern Philippines, where six people died as a result of falling branches.

Foreign state media said Bebinca was expected to move north-west, causing heavy rains and great winds in Jiangsu, Zhejiang and Anhui regions.

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Nations can curb transboundary floods

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Discussed: 16 Sep 2024 at 05: 04

The level of the Mekong River in Nakhon Phanom province on Sunday. (Photo: Pattanapong Sripiachai)
On Sunday, the Mekong River’s degree was in the state of Nakhon Phanom. ( Photo: Pattanapong Sripiachai )

According to the International Rivers Network, the government must collaborate attentively with neighboring nations to improve the Mekong River‘s management to lessen future economic losses and loss of life as a result of floods.

A sizable amount of water from Myanmar, according to Pianporn Deetes, director of the International Rivers Network’s Southeast Asia Program, was responsible for the flood disaster in Chiang Rai province.

Now, there is no powerful process to deal with transboundary inundation, she said.

According to her, the government has collaborate with the neighboring nation to reduce the impact of floods on upstream residents.

She further advised that it work with nations along the lower Mekong River to reduce this risk because the Northeast of Thailand is liable to storms.

She claimed that flood in Thailand’s Northeastern region could result from large flows of water from Laos and rivers in China.

” The Mekong River Commission’s mechanism does n’t work because it only focuses on data sharing. What we need then is a co-management method for Mekong River countries, including China”, she said.

” People who live along the Mekong River should have the right to stay safe from flooding brought on by dam discharge.”

” If]Prime Minister Paetongtarn Shinawatra] greatly understands women’s suffering, she may take immediate action to deal with the maritime flood by raising the issue for a local conversation”, she added.

No one from the state has cared about the situation in a single word. This is a big loss for the citizens”.

On its site, the Thai Meteorological Department issues a warning that the government’s Northeastern, Isaan, and Central areas are expected to experience a rain strengthening on Tuesday.

Bangkok and the Eastern and Southern regions of the nation will also experience heavy rains as a result of the rain, according to the report.

Forest is a significant contributor to the flood crisis in Chiang Rai state, according to Greenpeace Southeast Asia’s Tara Buakamsri.

He claimed that the Shan State in Myanmar, which is connected to Chiang Rai’s Mae Sai region, is where the Mae Sai River and Mae Kok River’s rivers, which have overflowed and caused severe storms, originate.

According to Mr. Tara, information from satellite photographs taken between 2021 and 2023 showed that over 3.1 million acres of Shan State had been converted into corn farms to feed supply mills.

Pianporn: Job with mates

Pianporn: Job with mates

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Analysis: China treads carefully in global trade disputes, eyes Southeast Asia as key market amid Western tariff pressures

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A year-long anti-dumping investigation into American goods of rape was revealed on Monday by the Chinese Ministry of Commerce. &nbsp,

” Canada has ignored WTO ( World Trade Organization ) principles and violated its pledges at the WTO”, said a department spokeswoman, adding that authorities had “requested sessions” with their American counterparts over the problem. &nbsp,

The spokesperson called this a classic unilateral and trade protectionist act, which seriously impairs the rules-based multilateral trading system and disrupts global industrial and supply chains for ( Chinese ) EVs as well as steel and aluminum products. &nbsp,

Economics doctor Dr. Chen predicted that Canada’s trade guidelines will continue to closely resemble those of the US. &nbsp,

” Canada will only look to the US,” according to the statement.” If the US does reduce some of the tariffs that China has imposed on imported EVs and other goods, Canada might do the same.” Otherwise, Canada will be just as hard as the US on China” .&nbsp,

Commenting on the condition, Ms Garcia-Herrero expressed concerns about Beijing’s activities. &nbsp,

China” ca n’t use retaliation as strictly or as powerfully as it thinks,” she said, noting that Beijing may have also played a role in previous trade disputes and tensions with the US, Australia, and South Korea.

For example, China in 2020 had imposed restrictions and obligations on American goods, when political disputes with Australia turned into a full-blown business war. &nbsp,

Despite ending the three decades of punishing levies and removing the last remaining taxes on wine in March, experts fear that producers will not be willing to put all their hopes on a seemingly attractive industry in the near future.

” China thinks it has a lot of leverage, but it backfires because states start fearing China, and so they want to de-risk”, she said. &nbsp,

Although China’s trade restrictions have caused significant declines in American exports of the intended goods, many of the impacted Australian sectors have found new markets in nations like Vietnam, Indonesia, and Thailand.

And a Beijing response that is too stern could backfire, adding to” the West’s populist outlook on China” and” a great level of fear of China,” according to Mr. Daniel Senger, managing partner at the Shanghai-based world consulting firm Wilton Partners. That adds to “impulsive” reactions when it comes to laws on China, specifically from politicians seeking company, he noted.

China believes its EVs are badly treated and contrary to WTO rules because they represent” a quantitative advantage in terms of lower cost and higher sophistication” to what the West is now present, he told CNA. &nbsp,

Beijing appears to know that its bear warrior diplomacy was widely despised and yet disliked by many trade partners, particularly in developed nations. ” &nbsp,

According to Chinese Foreign Ministry spokesperson Mao Ning on August 22, the EU may work with China “in the same way to discuss a proper negotiation and avoid escalations,” while the China Chamber of Commerce has stated that such measures may increase trade tensions between China and the EU and give a bad signal to international cooperation and natural development efforts.

One possible middle ground could be the development of Chinese EV output in Europe and the production of lower-end, inexpensive vehicles that Europe and North America cannot possibly afford, Mr. Senger adds.

So Beijing may be cautious this time around and might even choose a” lighter “approach, says SMU’s Mr Gao.

A SOUTHEAST ASIA SILVER LINING &nbsp,

According to experts, any business war between China and the West had unavoidably had repercussions, and one part would want to profit is Southeast Asia. &nbsp,

China has been the country’s top trading partner for 14 consecutive years, and US industry level between nations surpassed US$ 722 billion in 2022. &nbsp,

Southeast Asian nations might benefit in a number of ways. &nbsp,

” The first is to capture spillover volume ( from China ) at low prices,” said Mr Warwick Powell, an adjunct professor at the Queensland University of Technology. &nbsp,

The second is that Chinese businesses could use their presence in the region as a platform for exporting to the EU and North America. This has been the pattern already.”

In the wake of a potential tariff war, the region could experience both positive and negative effects. &nbsp,

The natural choice, or the simplest choice, would be Southeast Asia, according to Dr. Chen, if the sanctions against China are so severe that they will force more Chinese and foreign capitals with existing ones to relocate some of their production capacities abroad. &nbsp,

According to law professor Mr. Gao, new Chinese EVs could also be exported from these Southeast Asian nations to the EU and the US.

However, this might also present challenges for regional EV manufacturers, who may struggle to compete. &nbsp,

Chinese manufacturers accounted for 70 % of all EV sales in Southeast Asia last year, with automaker BYD holding the lead, according to Hong Kong-based Counterpoint Research.

VinFast Auto, a Vietnamese manufacturer of electric vehicles, is struggling to gain ground in the fiercely competitive EV market. It delivered just 9, 689 cars in the first three months of the year, well off the pace to meet its annual 100, 000 target. Last year, some 34, 855 vehicles were sold, most of which went to related parties.

But China is also facing resistance in the region as it tries to pivot and direct more exports to nations in Southeast Asia.

Indonesia, a growing global powerhouse and Southeast Asia’s largest economy, has been eyeing heavy duties on textile imports. Thailand has also expressed concern about the recent influx of cheap goods from China, claiming that industry groups have struggled to compete.

In August, Malaysia launched its own anti-dumping investigations into imports of polyethylene terephthalate and other products from China.

In a statement released on August 9, Malaysia’s Ministry of Investment, Trade and Industry stated that the government would impose a provisional anti-dumping duty at the rate necessary to stop the domestic market from being further damaged.

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‘Trade wars a lose-lose game’: Analysts say China mulls milder steps as Western nations pile on tariffs

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A year-long anti-dumping investigation into American goods of rape was revealed on Monday by the Chinese Ministry of Commerce. &nbsp,

” Canada has ignored WTO ( World Trade Organization ) principles and violated its pledges at the WTO”, said a department spokeswoman, adding that authorities had “requested sessions” with their American counterparts over the problem. &nbsp,

The spokesperson said,” This is a classic unilateral and trade protectionist act that seriously harms the rules-based multilateral trading system and disrupts global industrial and supply chains for ( Chinese ) EVs as well as steel and aluminum products. &nbsp,

According to economist Dr. Chen, Canada’s business laws will continue to closely resemble those of the US. &nbsp,

” Canada will only appear to the US.”” If the US does actually lower some of the sentence tariffs imposed on Chinese EVs and another imports, even Canada will do the same.” Otherwise, Canada will be just as strong as the US on China” .&nbsp,

Commenting on the condition, Ms Garcia-Herrero expressed concerns about Beijing’s activities. &nbsp,

China” ca n’t use retaliation as strictly or as powerfully as it thinks,” she said, noting that Beijing may have also played a role in previous trade disputes and tensions with the US, Australia, and South Korea.

For example, China in 2020 had imposed restrictions and obligations on American goods, when political disputes with Australia turned into a full-blown business war. &nbsp,

Despite ending the three decades of punishing levies and removing the last remaining taxes on wine in March, producers may not want to put all their hopes on a seemingly attractive industry in the near future.

” China thinks it has a lot of leverage, but it backfires because states start fearing China, and so they want to de-risk”, she said. &nbsp,

Many of the damaged American companies have found new areas in nations like Vietnam, Indonesia, and Thailand despite China’s business measures causing significant declines in American exports of the intended goods.

And a Beijing response that is too stern could backfire, adding to” the West’s populist outlook on China” and” a great level of fear of China,” according to Mr. Daniel Senger, managing partner at the Shanghai-based international consulting firm Wilton Partners. That adds to “impulsive” reactions when it comes to laws on China, specifically from politicians seeking company, he noted.

China believes its EVs are badly treated and contrary to WTO regulations because they represent” a comparative advantage in terms of lower price and higher style” over what the West has to offer, he told CNA. &nbsp,

Beijing appears to know that some industry partners, especially those in developed nations, were extremely hostile and perhaps resent their wolf warrior diplomacy. ” &nbsp,

According to Chinese Foreign Ministry spokesperson Mao Ning on August 22, the EU may work with China “in the same way to discuss a proper negotiation and avoid escalations,” while the China Chamber of Commerce has stated that such measures may increase trade tensions between China and the EU and give a bad signal to international cooperation and natural development efforts.

Mr. Senger suggests that there might be a middle ground between allowing lower-end, cheap Chinese electric vehicles that Europe and North America could not possibly make financially and boosting China’s production in Europe.

So Beijing would be careful this time round and might even adopt a” milder “approach, says SMU’s Mr Gao.

A SILVER LINING FOR SOUTHEAST ASIA? &nbsp,

According to analysts, any trade war between China and the West would unavoidably have repercussions, and Southeast Asia would be one of the countries that would seek to profit from it. &nbsp,

China has been the region’s largest trading partner for 14 consecutive years, and trade between the nations reached record highs of US$ 722 billion in 2022. &nbsp,

Southeast Asian nations might benefit in a number of ways. &nbsp,

” The first is to capture spillover volume ( from China ) at low prices,” said Mr Warwick Powell, an adjunct professor at the Queensland University of Technology. &nbsp,

The second is that Chinese businesses may start expanding their presence in the area as a platform for exporting to the EU and North America. This has been the pattern already.”

In the wake of a potential tariff war, the region could experience both positive and negative effects. &nbsp,

The natural choice, or the simplest choice, would be Southeast Asia, according to Dr. Chen, if the sanctions against China are so severe that they will force more Chinese and foreign capitals with existing ones to relocate some of their production capacities abroad. &nbsp,

According to law professor Mr. Gao, new Chinese EVs could also be exported from these Southeast Asian nations to the EU and the US.

However, this might also present challenges for regional EV manufacturers, who may struggle to compete. &nbsp,

Chinese manufacturers accounted for 70 % of all EV sales in Southeast Asia last year, with automaker BYD holding the lead, according to Hong Kong-based Counterpoint Research.

VinFast Auto, a Vietnamese manufacturer of electric vehicles, is struggling to gain ground in the fiercely competitive EV market. It delivered just 9, 689 cars in the first three months of the year, well off the pace to meet its annual 100, 000 target. Last year, some 34, 855 vehicles were sold, most of which went to related parties.

China is also facing regional opposition, despite its efforts to pivot and direct more exports to Southeast Asian nations.

Indonesia, a growing global powerhouse and Southeast Asia’s largest economy, has been eyeing heavy duties on textile imports. Thailand has also expressed concern about the recent influx of cheap goods from China, claiming that rival industry organizations have struggled.

In August, Malaysia launched its own anti-dumping investigations into imports of Chinese plastic, including polyethylene terephthalate imports.

The government’s Ministry of Investment, Trade, and Industry stated in a statement released on August 9 that” the government will impose a provisional anti-dumping duty at the rate necessary to prevent further harm to the domestic market.”

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