Macau is the lesser known of the People’s Republic of China’s two special administrative regions (SARs) on the Pearl River delta (the other being Hong Kong). It was founded by Portuguese traders in 1557 and since then was a lucrative trade port between Europe and East Asia. In 1999, the Portuguese government returned the colony to Chinese sovereign control, and… Read more »
(BBC): The US should block access to islands built by China in contested waters of the South China Sea, Donald Trump’s nominee for secretary of state says. The comments, which are likely to hike tensions with Beijing, were made by Rex Tillerson at his confirmation hearing. Beijing has been building artificial islands on reefs in waters also claimed by other… Read more »
(REUTERS): China and Russia have agreed to take further unspecified “countermeasures” in response to a U.S. plan to deploy an anti-missile system in South Korea, state news agency Xinhua reported on Friday. The countermeasures “will be aimed at safeguarding interests of China and Russia and the strategic balance in the region”, Xinhua said, citing a statement released after a China-Russia security… Read more »
(Bloomberg): Iron ore imports by China surged to a record above 1 billion metric tons last year as unexpectedly strong steel production and lower local mine output combined to fire up demand in the world’s top buyer for cargoes from Australia and Brazil, supporting a rebound in prices. Asia’s top economy imported 1.024 billion tons in 2016, up 7.5 percent from a… Read more »
(CNBC): For the month, exports decreased 6.1 percent on-year in dollar-denominated terms, compared with a 0.1 percent increase in the previous month, Reuters reported on Friday, citing official data. Imports meanwhile rose 3.1 percent from a year ago, down from November’s 6.7 percent growth. December’s trade balance stood at $40.82 billion, versus $44.61 billion in the previous month For 2016, Chinese… Read more »
The Chinese economy is slipping. Growth has slowed, and the national currency, the yuan, has reached an eight-year low. The United States, Europe, and other nations are seeking their manufactured goods elsewhere, like in Thailand, Vietnam, and Taiwan, where the labor is far cheaper than the ever-pricier Chinese. As growth slows, the Chinese government becomes anxious. This may be the… Read more »
(TIMES OF INDIA): Beijing has issued its first red alert for air pollution this year as a new bout of heavy smog was set to hit the capital city and surrounding areas on Friday. The smog that is expected to last for five days, officials said on Thursday. Approved by the municipal government, the red alert will be activated 8… Read more »
(WSJ): Japan is leaping into space resources, agreeing to work with a robotic-exploration company to create a blueprint for an industry to extract resources from the moon that would enable more extensive space exploration. The Japan Aerospace Exploration Agency, Japan’s space agency, said Friday that it signed a memorandum of understanding with Tokyo-based ispace technologies Inc. to work on building… Read more »
(FOX): Russia and Japan agreed Friday to hold talks on joint economic development on four islands at the center of a territorial dispute between the countries. It was a small step forward that fell far short of breaking the stalemate in the long-running dispute that has prevented the two countries from signing a peace treaty formally ending World War II. Joint… Read more »
(CNN): Beijing has been dumping U.S. government debt to prop up its currency. China uses the dollars it gets from selling U.S. Treasuries to buy the yuan, which has sunk to an 8-year low as the world’s second largest economy slows. China’s huge holdings of U.S. debt fell to $1.12 trillion at the end of October, their lowest level in… Read more »