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☆ A recession in early 2025 could send the stock market tumbling 30%, strategist says
▼ + stars: | 2024-05-07 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

A recession by early next year could send stocks down 30%, says BCA strategist Roukaya Ibrahim. AdvertisementThere are two factors signaling a recession by year-end or early 2025, and a downturn could spark a 30% correction in stocks, according to BCA strategist Roukaya Ibrahim. "But eventually, the unemployment rate is going to take higher and that's going to lead to concerns about a recession." Ibrahim isn't alone in calling a recession and a steep plunge in the stock market. Wall Street veteran Gary Shilling, known for predicting the mid-2000s mortgage bubble, is also forecasting a 30% stock market crash by the end of this year, with a recession likely to crush speculative bets that have piled up in recent years.

Persons: Roukaya Ibrahim, Gary Shilling, —, Ibrahim, Ibrahim isn't Organizations: Wall Street, Service, Bloomberg Locations: Friday's, China, Europe

☆ Tesla slides 3% in premarket, Li Auto sinks 8% as EV makers slash prices amid fierce competition
▼ + stars: | 2024-04-22 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Tesla shares sank in premarket trading on Monday, while China's Li Auto plummeted to an 11-month low, after both companies slashed prices of their electric vehicles in various markets amid intense competition. U.S. EV giant Tesla cut the starting price of its Model 3 in China to 231,900 yuan ($32,000) on Sunday, a reduction of 14,000 yuan, as reported by Reuters. The report also said it had slashed prices in other major markets, like Germany. Meanwhile, Li Auto cut prices for its models, including the L7, L8, L9, and the newly launched MEGA SUV, it said on its Weibo account on Monday. Checks by CNBC of both Tesla and Li Auto websites on Monday showed their vehicles were listed at the updated prices.

Persons: Li, Tesla Organizations: U.S, EV, Tesla, Reuters, Li Auto, CNBC Locations: China, Germany

☆ A global scramble to make humanoid robots is gearing up to be the 21st century's space race
▼ + stars: | 2024-03-30 | by ( Joshua Zitser | Jyoti Mann | ) www.businessinsider.com time to read: +11 min

Humanoid robots are symbols of power and technological capability, a geopolitics expert says. An incident earlier this month involving a Saudi humanoid robot inappropriately touching a female reporter might not at first seem even remotely connected. AdvertisementHumanoids are visual representations of breakthroughs in AIIn Italy, the Istituto Italiano di Tecnologia is working on iCub, a research-grade humanoid robot. AdvertisementChina wants to take the leadWhen it comes to humanoid robots, China is vying for the top spot, so it's no wonder other nations are getting nervous. "The vast magnitude of the market offers an unmatched chance to test, improve, and expand the uses of humanoid robots," he said.

Persons: —, Neil Armstrong's, Muhammad, Elie Metri, Giorgio Metta, Metta, there's, Zen Koh, Koh, Peggy Johnson, Johnson, it's, David Becker, OpenAI, Mercedes, Tesla, Julian Mueller, Kaler, Mueller, Tang Ke, Li Boyang, Will Jackson, Johannes Simon, you've, Jackson, we're, Gartner, Nvidia's, Melonee Wise, Justin Sullivan, Metri Organizations: Service, Robotics, QSS Robotics, Muhammad, Istituto, Tecnologia, European Union, Ministry of Industry, Information Technology, Fourier Intelligence, Getty, BMW, Strategic Foresight, Stimson, TIME, Beijing, Conference, Boston Dynamics, Arts, Engineered Arts, GTC, Getty Images Saudi Locations: China, Saudi Arabia, Italy, Soviet Union, Saudi, DeepFest, Riyadh, Robotics Saudi Arabia, India, Nigeria, Shanghai, Oregon, Las Vegas, Texas, Beijing, China's Liaoning Province, San Jose , California, Getty Images Saudi Arabia, QSS, Europe

☆ The US, Russia and China are in a race to dominate new-wave nuclear energy — and win global influence
▼ + stars: | 2024-02-01 | by ( Angela Dewan | Ella Nilsen | ) edition.cnn.com time to read: +12 min

Russia's floating nuclear power plant, Akademik Lomonosov, leaving the service base Rosatomflot on August 23, 2019. For some experts, nuclear energy — in all forms, large or small — has an important role to play in that transition. Globally, the construction of conventional nuclear power plants dipped following the Chernobyl meltdown in 1986. Russia has already built or designed nuclear plants — the traditional type — for China, India, Bangladesh, Turkey, Slovakia, Egypt and Iran. “It certainly dampens the excitement abroad,” said John Parsons, a senior lecturer at MIT and a financial economist focused on nuclear energy.

Persons: Akademik Lomonosov, Biden, Lomonosov, Maxim Shemetov, “ There’s, ”, Josh Freed, China —, Vladimir Putin’s, Bill Gates ’, Luo Yunfei, Kirsten Cutler, they’re, Cutler, ” Cutler, They’re, John Parsons, John Kerry, Thomas Mukoya, Way’s Freed, “, ” Parsons, Mohammed Hamdaoui, ” Hamdaoui, “ It’s Organizations: CNN, Reuters, European Union, International Energy Agency, Energy, World Nuclear, IEA, US, SMR, US Export, Import Bank, International Development Finance Corporation, GE Hitachi Nuclear Energy, China, Changjiang, China News Service, Nuclear Energy, US State Department, “, MIT, InfluenceMap, The State Department, Nuclear Regulatory Commission, NRC, Rystad Energy Locations: Alaska, Russian, Russia, China, European, Japan, India, South Korea, Europe, Dubai, America, Poland, North Carolina, Southeast Asia, Bangladesh, Turkey, Slovakia, Egypt, Iran, Lomonosov, Siberia, Russia’s, Washington, Bill Gates ’ TerraPower, Wyoming, Changjiang Li Autonomous County, Hainan province, United States, Oregon, Idaho, United Arab Emirates

☆ China's Li Auto says to start mass production of its first EV in Feb
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Staff members stand at the booth of Chinese electric vehicle (EV) maker Li Auto, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsCompanies Li Auto Inc FollowSHANGHAI, Nov 17 (Reuters) - Li Auto (2015.HK) said on Friday it will start mass production and delivery of its first pure electric car in February, as the up and coming Chinese automaker bets on fast charging technologies to solve range anxiety for EV users. The MEGA MPV will also be the first model to be produced at Li Auto's Beijing plant with a designed capacity of 100,000 units annually. Founded in 2015, Li Auto has been offering four extended range hybrid SUVs targeting family users. ($1 = 7.2441 Chinese yuan renminbi)Reporting by Zhang Yan, Brenda Goh; Editing by Muralikumar Anantharaman and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Auto, Tingshu Wang, Li, Zhang Yan, Brenda Goh, Muralikumar Anantharaman, Raju Gopalakrishnan Organizations: REUTERS, HK, Li Auto, Thomson Locations: Beijing, China

[1/3] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.

Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning

☆ China curbs graphite exports in latest critical minerals squeeze
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

Here are key details on graphite and China's limits on exports of strategic minerals. That's about double the amount of lithium in an EV battery. China also refines more than 90% of the world's graphite into material used in virtually all EV battery anodes. Top buyers of graphite from China include Japan, the U.S., India and South Korea, according to Chinese customs data. OTHER CHINESE MINERAL EXPORT CURBSIn July, China announced export restrictions on eight gallium and six germanium products starting on Aug. 1.

Persons: Tony Munroe, Amy Lv, Christian Schmollinger Organizations: REUTERS, Rights, . Geological Survey, EV, Mercedes, Benchmark Mineral Intelligence, Thomson Locations: Qingdao, Shandong province, China, Rights SINGAPORE, Mozambique, Madagascar, Brazil, Japan, U.S, India, South Korea

☆ Nestlé plans to close an infant formula factory due to China's plunging birth rate
▼ + stars: | 2023-10-20 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Nestlé is set to close an infant formula factory in Ireland due to falling Chinese demand. China's fertility rate dropped to a historic low last year, according to experts. The report cited dropping demand for infant formula in China, which it attributed to lower birth rates, as a factor in its decision. AdvertisementAdvertisement"The market, which had previously been reliant on imported infant formula products, is also seeing rapid growth in locally-produced products," it added. The Irish facility makes infant formula products exclusively for export to Asian markets.

Persons: — Organizations: Service, Development Research, China - Britain Business Council, Strategic, International Studies Locations: Ireland, Irish, Askeaton, China, Switzerland, United States

REUTERS/Nick Oxford/File Photo Acquire Licensing RightsSummary IEA trims 2024 oil demand forecast to 880,000 bpdOPEC sticks to 2024 forecast of 2.25 million bpdIEA cites signs of demand destruction from higher pricesLONDON, Oct 12 (Reuters) - The gap between two leading oil forecasters' views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth. By contrast, in its latest report OPEC stuck to its forecast that demand will rise by 2.25 million bpd in 2024. The difference between the two forecasts - 1.37 million bpd - is equivalent to more than 1% of daily world oil use. Oil demand growth is an indication of likely oil market strength, and can affect prices and fuel costs for consumers and businesses. "In 2024, solid global economic growth, amid continued improvements in China, is expected to further boost oil consumption," OPEC said in a monthly report.

Persons: Nick Oxford, Natalie Grover, Alex Lawler, Jason Neely, Susan Fenton, Jan Harvey Organizations: Midland , Texas U.S, REUTERS, International Energy Agency, of the Petroleum, IEA, OPEC, Economic Co, Development, Thomson Locations: Midland , Texas, China, OPEC, Israel, Palestinian, Nigeria, Pakistan, Egypt, United States, London

[1/5] U.S. President Joe Biden visits the Raj Ghat memorial with Prime Minister of India Narendra Modi and other G20 leaders, Sept. 10, 2023, in New Delhi. "Everything was reflected in a balanced form," Svetlana Lukash, the Russian G20 sherpa, or government negotiator, was quoted as saying by Russian news agency Interfax. "All members of the G20 have agreed to act as one in the interests of peace, security and conflict resolution around the world." The summit also admitted the African Union which includes 55 member states, as a permanent member of the G20. Russia's 2022 invasion of Ukraine has left tens of thousands dead, displaced millions and sown economic turmoil across the world.

Persons: Joe Biden, India Narendra Modi, Kenny Holston, Jake Sullivan, White, Biden, Russia's Lavrov, Li, Svetlana Lukash, Olaf Scholz, Rishi Sunak, Emmanuel Macron, Fumio Kishida, Mahatma Gandhi, Gandhi, Sergei Lavrov, Li Qiang, Xi Jinping, Russia's Vladimir Putin, Krishn Kaushik, Sanjeev Miglani, Raju Gopalakrishnan, Jacqueline Wong Organizations: REUTERS Acquire, White, Russian G20, House, British, Russian, European Union, Thomson Locations: India, New Delhi, Vietnam, DELHI, Russia, U.S, Moscow, Ukraine, Russian, Germany, Britain, Brazil, South Africa

On Wednesday, China's Li warned against starting a "new Cold War" and warned countries against taking sides in any conflict. Harris, attending the meetings instead of President Joe Biden, reiterated a U.S. commitment to the region. "The United States has an enduring commitment to Southeast Asia and more broadly to the Indo-Pacific," she said. A White House official said earlier the U.S. shared interests with ASEAN in "upholding the rules-based international order, including in the South China Sea, in the face of China's unlawful maritime claims and provocative actions". The Chinese premier and Japanese Prime Minister Fumio Kishida met briefly on the sidelines of the summit on Wednesday and discussed Japan's release into the sea of treated radioactive water from the Fukushima nuclear plant.

Persons: Ferdinand Marcos, Jr, Lee Hsien Loong, Ministry of Foreign Affairs Sarun, Pham Minh Chinh, Fumio, Yoon Suk Yeol, Joko, Kamala Harris, Li Qiang, Sergei Lavrov, China's Li, Harris, Joe Biden, Fumio Kishida, Kanupriya Kapoor, Robert Birsel Organizations: Singapore's, Ministry of Foreign Affairs, Vietnam's, Japan's, ASEAN, Russian, Association of Southeast Asian Nations, White, U.S, Japanese, Thomson Locations: Philippines, Fumio Kishida, South, JAKARTA, Indonesia, Japan, South Korea, India, Australia, South China, Myanmar, Korea, Russia, United States, Southeast Asia, China, Laos

☆ China's Li promotes greater cooperation with Indonesia
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

China's Premier Li Qiang (L) is greeted by Indonesia’s President Joko Widodo upon his arrival at the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, 06 September 2023. Indonesia will host the 43rd ASEAN Summit and related summits on 05 to 07 September 2023. MAST IRHAM/Pool via REUTERS Acquire Licensing RightsBEIJING, Sept 6 (Reuters) - China wants to work with Indonesia to expand cooperation in various areas including green energy, the digital economy, biomedicine, and artificial intelligence, China's foreign ministry reported on Wednesday, citing Premier Li Qiang. Li, in Indonesia for a regional summit, told a late Tuesday dinner with business leaders that they should be confident in cooperation, after weak economic data indicating a slowdown in China had raised doubts in other markets about China's rise. China hoped that Indonesia would maintain its open market open and provide a fair and just business environment for Chinese enterprises, Li said.

Persons: Li Qiang, Joko Widodo, Li, Liz Lee, Ella Cao, Tom Hogue, Robert Birsel Organizations: 43rd Association of Southeast Asian Nations, ASEAN, ASEAN Summit, REUTERS Acquire, Rights, Beijing, Thomson Locations: Jakarta, Indonesia, Rights BEIJING, China

☆ Japan PM speaks to China's Li about radioactive water release
▼ + stars: | 2023-09-06 | by ( Sakura Murakami | ) www.reuters.com time to read: +2 min

Japan's Prime Minister Fumio Kishida speaks during the leaders talk of the ASEAN-Indo Pacific Forum (AIPF) in Jakarta, Indonesia September 6, 2023. Japan started releasing the water from the wrecked plant into the ocean last month, drawing strong criticism from China. "During the chat, I explained Japan's position on the treated water to Premier Li," Kishida said. It was also the first high-level talk between the two countries since the release of the water from the Fukushima plant. The water is treated to remove most radioactive elements except for tritium, a radionuclide difficult to separate from water, and then diluted to internationally accepted levels before being released into the ocean.

Persons: Fumio Kishida, Adek Berry, Li Qiang, Kishida, Li, Premier Li, Sakura Murakami, Rocky Swift, Tomasz Janowski, Nick Macfie Organizations: Japan's, ASEAN, Pacific, Rights, Association of Southeast Asian Nations, Thomson Locations: Jakarta, Indonesia, Japan, China, Premier, Tokyo, Beijing

☆ China warns against 'new Cold War' at ASEAN summit
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +5 min

[1/5] China's Premier Li Qiang (L) attends the 26th ASEAN-China Summit during the 43rd ASEAN Summit in Jakarta, Indonesia, on September 6, 2023. In remarks at the start of her meeting with ASEAN leaders, Harris said the United States was committed to the region. "The United States has an enduring commitment to Southeast Asia and more broadly to the Indo-Pacific," she said. Just before this week's gatherings, China released a map with a "10-dash line" showing what appeared to be an expansion of the area it considers its territory in the South China Sea. "The Philippines firmly rejects misleading narratives that frame the disputes in the South China Sea solely through the lens of strategic competition between two powerful countries," Marcos said.

Persons: Li Qiang, Yasuyoshi, Li, Kamala Harris, Joe Biden, Xi, Harris, ASEAN's, Retno Marsudi, Ferdinand Marcos, Marcos, Yoon Suk, Yoon, Kim Jong, Vladimir Putin, Stanley Widianto, Kate Lamb, Kanupriya Kapoor, Robert Birsel, Nick Macfie Organizations: China, ASEAN Summit, REUTERS Acquire, China Sea, Asia ASEAN, Association of Southeast Asian Nations, ASEAN, U.S, White, Indonesian, United, South, North, New York Times, Thomson Locations: ASEAN, Jakarta, Indonesia, Asia, JAKARTA, China, Japan, South Korea, Australia, India, South China, United States, Southeast Asia, Myanmar, States, South, Philippine, Philippines, North Korea, Russia, Moscow, Ukraine

Indonesia imported 53,864 metric tons of nickel ore in the first half of 2023, up from 22,503 tons for all of 2022, Indonesian trade data showed. But imports from the Philippines only started in May, and all arrived at Morowali port in a huge nickel processing park run partly by Chinese nickel giant Tsingshan Group, the Indonesian data showed. "But the ore is cheaper by comparison with domestic ore currently and so this will offset some of the rising costs," Mitchell said. The Philippines mined 360,000 tons of nickel in ore in 2022, or 11% of global supplies, according to INSG. Philippines 1.3% grade ore landed at China's Lianyun port surged 20.6% in the past month to $41 a ton, the highest since March, Mysteel data showed.

Persons: Antara, Aneka, Tsingshan, Wood Mackenzie, Andrew Mitchell, Mitchell, Mai Nguyen, Siyi Liu, Fransiska, Enrico dela Cruz, Dominique Patton, Kim Coghill Organizations: PT Vale Indonesia, REUTERS Acquire, Nickel, Tsingshan Group, Study, Imports, Thomson Locations: Sorowako, South Sulawesi, Indonesia, Philippines, Jakarta, Morowali, China, China's, Hanoi, Beijing, Manila

☆ A worldwide lithium shortage could come as soon as 2025
▼ + stars: | 2023-08-29 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesThe world could face a shortage for lithium as demand for the metal ramps up, with some analysts forecasting that it could come as soon as 2025. BMI, a Fitch Solutions research unit, was among those that predict a lithium supply deficit by 2025. In a recently published report, BMI largely attributed the deficit to China's lithium demand exceeding that of its supply. "We expect an average of 20.4% year-on-year annual growth for China's lithium demand for EVs alone over 2023-2032," the report stated. While that could point to a global lithium surplus next year, shortages could start to plague supply chains in 2028.

Persons: Susan Zou, Corinne Blanchard, Deutsche, Blanchard, Zou Organizations: Sigma, Bloomberg, Getty, BMI, Fitch Solutions, Economic, Rystad Energy, P, Commodity, EV Locations: Itinga, Minas Gerais, Brazil, China, skyrocket, transportations, U.S, Europe

Zhang Yaoyu, PCI's global head of LNG trading, declined to comment on the company's traded volume, but said trading was part of the company's overall strategy. By 2026, Chinese companies are expected to have contracted LNG supplies of more than 100 million tons a year. That could mean a surplus of up to 8 million tons that year, according to consultancy Poten & Partners, or a deficit of 5 million to 6 million tons based on estimates from pricing agency ICIS. Qatar, which will be China's largest supplier for 2026, however, offers traditional LNG contracts that are restricted to a single destination or country. These openings in the market and a more liberalised domestic gas market have also prompted smaller Chinese gas distributors and importers to expand into the trading space.

Persons: Dado Ruvic, Toby Copson, Copson, it's, Zhang Yaoyu, Zhang, Jason Feer, Feer, Chen Aizhu, Emily Chow, Marwa Rashad, Yuka Obayashi, Tom Hogue Organizations: REUTERS, 2026 Companies, Shell, BP, International Energy Agency, Offshore Oil Corp, China Gas Holdings, HK, Qatar, Trident LNG, Sinochem, PetroChina International, Poten, Partners, Rystad Energy, Reuters Graphics Reuters, Reuters, PCI, U.S, Beijing Gas, Zhejiang Energy, JOVO Energy, Thomson Locations: Qatar, US, Europe, Asia SINGAPORE, London, Singapore, U.S, Oman, Canada, Mozambique, Shanghai, China, Japan, Beijing, Central Asia, Russia, Southeast Asia, South Korea, Ukraine, ENN, Tokyo

☆ Factbox: China's incumbent and upcoming LNG traders
▼ + stars: | 2023-08-21 | by ( Chen Aizhu | ) www.reuters.com time to read: +5 min

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. Below is a list of China's main gas traders and their operations globally, according to information from company sources and traders. In May, PCI became the first Chinese firm to gain long-term access to gas storage at a European gas terminal. CNOOC also plans to create a London desk in the coming year or two, following PCI and Unipec. Sumitomo Corp (8053.T), which has a desk to trade piped gas in London is considering expanding into LNG trading, said a company spokesperson.

Persons: Issei Kato, Keith Martin, Wang Bingsi, CNOOC, Norinco, ENN, Chen Aizhu, Yuka Obayashi, Florence Tan, Tom Hogue Organizations: REUTERS, Rights, PetroChina International, PCI, London, Gazprom, China National Offshore Oil Company, Gas Co, ENN, LNG, Beijing Gas, Zhejiang Energy, Zhejiang Energy Zhejiang Energy, Exxon Mobil, Mexico, China Gas Holding, China Gas, JOVO Energy, Privately, SOUTH, Mitsubishi Corp, Marubeni Corp, Tokyo Gas, Korea's SK E, Sumitomo Corp, Thomson Locations: Futtsu, Tokyo, Japan, London, Singapore, Beijing, Dubai, Houston, Sinopec, China, Jiangsu province, ENN, U.S, Hebei, Shenzhen, CNOOC, Zhejiang Energy Zhejiang, Zhejiang, Ningbo, Wenzhou, Zhejiang province, HK, Guangxi province, Yantai, Shandong province, Guangdong, Guangzhou, JAPAN, SOUTH KOREA, Asia

☆ China's livestreaming attracts young hopefuls as competition grows
▼ + stars: | 2023-08-15 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

A day in the life of a livestreaming host like Zhang can include more than six hours of talking almost non-stop to camera, time spent on hair, make-up, and on post-broadcast debriefs. I can pick up my phone and I'm livestreaming," Zhang said. The livestreaming industry employed 1.23 million hosts as of 2020, according to iResearch, and a pandemic era boom in livestream sales helped the industry to generate $480 billion in business in China last year. To facilitate an increasingly professional and competitive livestreaming landscape, agencies have sprung up to train stables of young hosts and connect suitable anchors with brands. Indeed, the way brands approach livestreaming in China has also quickly evolved.

Persons: Zhang Jinyu, Zhang, Bytedance's, Shining Li, Shi Jianing, Hugo Boss, Casey Hall, Robert Birsel Organizations: Romomo, Thomson Locations: SHANGHAI, China, Shanghai

BEIJING, Aug 13 (Reuters) - The death toll from a mudslide last week in China's northwestern Shaanxi province has risen to four, state radio said on Sunday, as the country grapples with unusually high summer rainfall. TYPHOON WEAKENSMeanwhile, Typhoon Khanun weakened into a tropical depression when it made landfall in China's Liaoning province on Friday night. Overnight rainfall in Liaoning peaked at 52 millimetres (2 inches) per hour, with four reservoirs exceeding flood limits, CCTV said. A video posted by state media People's Daily showed thick swirling clouds hanging low above the ground, darkening the sky. Reporting by Andrew Hayley and Ethan Wang; Editing by Raju Gopalakrishnan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Typhoon Khanun, Khanun, Doksuri, Andrew Hayley, Ethan Wang, Raju Gopalakrishnan, Jamie Freed Organizations: China Central Television, Xinhua, Liaoning province's Anshan, Flood, Drought, Ministry of Emergency Management, CCTV, Thomson Locations: BEIJING, China's, Shaanxi, Xian, China's Liaoning, Liaoning, Tianjin, Chongqing, China, Xinjiang

☆ Taiwan steeling itself for Chinese drills over VP's US visit
▼ + stars: | 2023-08-11 | by ( Yimou Lee | ) www.reuters.com time to read: +5 min

The United States has described the stopovers as routine and no reason for China to take "provocative" action. Neither Taiwan nor the United States have given details of Lai's schedule on his stopovers. That includes the prospect of a visit to the United States by Chinese Foreign Minister Wang Yi, which could pave the way for a meeting between U.S. President Joe Biden and Chinese President Xi Jinping. Taiwan believes the scale of the exercises could be smaller than those in April, the Taiwanese official said. Chinese state television this month ran an eight-part series on the People's Liberation Army, some of which focused on Taiwan.

Persons: William Lai's stopovers, Lai, Tsai Ing, Kevin McCarthy, Biden, Wang Yi, Joe Biden, Xi Jinping, China, Jeff Liu, Yimou Lee, Ben Blanchard, Liz Lee, Michael Martina, Robert Birsel Organizations: United, House, Taiwan Affairs Office, People's Liberation Army, China's Eastern Theatre Command, Reuters, Chinese Foreign, American Institute, The U.S . State Department, Thomson Locations: TAIPEI, China, Taiwan, United States, U.S, Beijing, Los Angeles, Taiwan Strait, New York, Paraguay, San Francisco, stoke, Virginia, The, Taipei, Washington

☆ China's Li Auto aims to outsell BMW, Mercedes, Audi in its home market in 2024
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

People stand near the logo of Chinese electric vehicle (EV) maker Li Auto at a product launch event in Beijing, China May 25, 2021. REUTERS/Yilei Sun/File PhotoSHANGHAI, Aug 9 (Reuters) - Li Auto (2015.HK) said it aimed to outsell BMW (BMWG.DE), Mercedes-Benz (MBGn.DE) and Audi in China in 2024 as the up and coming Chinese automaker accelerates rollouts of new models and ramps up production. The company will launch four new models next year including three EVs, he said. But Li Auto managed to gain market share in the segment of cars priced above 300,000 yuan and grow profits this year with four extended-range hybrid vehicles targeting family users. ($1 = 7.2134 Chinese yuan renminbi)Reporting by Zhang Yan, Brenda Goh; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Li, Li Auto, Li Xiang, Tesla, Zhang Yan, Brenda Goh, Simon Cameron, Moore Organizations: REUTERS, Yilei, HK, BMW, Mercedes, Benz, Audi, Li Auto, China Association of Automobile Manufacturers, Thomson Locations: Beijing, China

☆ Sjoestroem wins fifth straight butterfly title at world championships
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +2 min

The 29-year-old Sjoestroem touched the wall in 24.77 seconds to deny Zhang, who was 0.28 seconds behind, while Gretchen Walsh of the United States took bronze. Australia's Cameron McEvoy then won the men's 50m freestyle gold in a superb time of 21.06 seconds, beating silver medallist Jack Alexy of the U.S. by 0.51 seconds. The absence of 2022 men's 100m butterfly champion Kristof Milak and Olympic gold medallist Caeleb Dressel, who also has the world record, will add a dash of uncertainty to the final later in the evening. But she can expect a tough test from American Regan Smith, who was second in the semis, and Australia's Olympic and world champion Kaylee McKeown who also holds the world record of 2:03.14 in the event having set that time in March. The Australian mixed 4x100m freestyle relay team have a shot at lowering their world record of 3:19.38 in the last race after cruising through the heats and going nearly two seconds faster than the United States.

Persons: Sarah Sjoestroem, Stefan Wermuth FUKUOKA, Swede, China's Zhang Yufei, Zhang, Gretchen Walsh, Australia's Cameron McEvoy, Jack Alexy, Briton Benjamin Proud, Kristof Milak, Caeleb Dressel, Dara Rose, Frenchman Maxime Grousset, Josh Liendo, Peng Xuwei, Regan Smith, Kaylee McKeown, Victory, McKeown, Katie Ledecky, China's Li Bingjie, Erika Hairweather, Shrivathsa Sridhar, Christian Radnedge Organizations: Marine Messe Fukuoka, REUTERS, United, Marine Messe Fukuoka Hall, Thomson Locations: Fukuoka, Japan, United States, U.S, China, China's, Australian, Bengaluru

☆ War with China would be an 'onslaught' like the US hasn't faced in decades
▼ + stars: | 2023-07-27 | by ( Jake Epstein | Jacob Zinkula | ) www.businessinsider.com time to read: +15 min

War would also have severe consequences for China and US allies in the Western Pacific. Any war with China would be fought on multiple fronts — from the air and sea to the web and financial markets. The US maintained this capacity for decades, but America's manufacturing prowess has atrophied since the end of the Cold War. Control of the Pacific would be a crucial part of any war with China, and Beijing boasts the world's largest navy. Cash warsWhile a military conflict between the US and China is only a hypothetical, the two countries are already competing on the economic battlefield.

Persons: Joe Biden, Mark Milley, Dan Blumenthal, it's, Blumenthal, Ujian, didn't, Glenn O'Donnell, Forrester, stymie, Ann Wang, William Alan Reinsch, Reinsch, Russia —, Scott Kennedy, Kennedy, aren't, Ramping, Jake Epstein, Jacob Zinkula Organizations: US, Joint Chiefs of Staff, Armed, US Navy, American Enterprise Institute, US Department of Defense, US Marine Corps, Pentagon, Navigation Plan, Ford, Nimitz, Center for Strategic, International Studies, Beijing, Russia, Columbia University, Marine Locations: China, Western, Beijing, Pacific, Taiwan, South China, America, Nebraska, Pearl, Normandy, Mongolia, Ukraine, Russian, Nanchang, Liaoning, Shandong, Fujian, wean, Washington, United States, Japan, Philippines, Netherlands

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