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☆ Colorful paintings of daily life uncovered in 4,300-year-old Egyptian tomb
▼ + stars: | 2024-03-25 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +3 min

CNN —Colorful paintings of daily life in ancient Egypt have been discovered in a tomb dating back more than 4,300 years. The tomb, known as a mastaba, was found in the pyramid necropolis of Dahshur, about 25 miles south of Cairo, during a recent Egyptian-German archaeological mission. The main attractions there are two large pyramids of King Sneferu: the so-called Bent Pyramid and the Red Pyramid. The daily life of the ancient Egyptians and their animals can be seen in the paintings. It added: “Cleaning and documentation work will be carried out on the tomb and its inscriptions during the coming period.”

Persons: King Sneferu, Idut, DAIK Stephan Seidlmayer, ”, “, Hathor, King Amenemhat III Organizations: CNN, Archaeological Institute, Egyptian Ministry of Tourism and, Egyptian Ministry of Tourism, Antiquities Locations: Egypt, Dahshur, Cairo, Old Kingdom, Memphis, Berlin, Kingdom, Sycamore, ”, Archaeological Institute Cairo, Old, Middle Kingdom

☆ Opinion | Farewell to the U.S.-China Golden Age
▼ + stars: | 2023-11-14 | by ( Farah Stockman | ) www.nytimes.com time to read: +2 min

A lunch meeting about China this summer at the Upper East Side headquarters of the Council on Foreign Relations felt more like an Irish wake. A crowd that included gray-haired China hands and not-so-gray-haired tech executives shared memories of their years in the Middle Kingdom as diplomats, entrepreneurs and English teachers in the countryside. They were all keenly aware that they had lived through an extraordinary period of warm relations that is now gone, perhaps forever. China has closed itself off.”The nostalgia was poignant but the gathering was also notable for what it represented. That lunch meeting underlined the fact that China was turning into something they hadn’t expected — and slipping out of their reach.

Persons: Warren Christopher, “, ” Ian Johnson Organizations: Foreign Relations, U.S, Washington, New York Times Locations: China, Middle Kingdom, Taipei, Taiwan, Beijing, United States

☆ West’s latest China corporate risk: medical graft
▼ + stars: | 2023-10-23 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

An employee wearing a face mask is seen at a workshop of computed tomography (CT) scanners of medical device firm Siemens Healthineers in Shanghai, China, February 24, 2020. REUTERS/Aly Song Acquire Licensing RightsLONDON, Oct 23 (Reuters Breakingviews) - China corporate risk has spread to Western medical device companies. According to BMI analysts, about two-thirds of Chinese medical devices used by local hospitals and clinics are imported from Western groups. That implies a direct hit to the order and revenue growth for medical device firms. Domestic brands, which have historically lagged in the advanced end of the medical device market, took the whole of last decade just to hike their share from around 20% to 30%, Deloitte says.

Persons: Aly, Philips, George Hay, Oliver Taslic Organizations: Siemens, REUTERS, Reuters, Volkswagen, Philips, GE Healthcare, BMI, National Health Commission, Siemens Healthineers, Reuters Graphics Reuters, Deloitte, GE, Healthineers, Thomson Locations: Shanghai, China, People’s Republic, Beijing, United States

☆ The Great China Boom is going bust
▼ + stars: | 2023-10-15 | by ( Linette Lopez | ) www.businessinsider.com time to read: +18 min

Unless dramatic action is taken, the future of China's economy is looking less like a young dynamo and more like an old, slow-moving blob. AdvertisementAdvertisementChinese President Xi Jinping has shifted the country's priorities from economic growth to a "technology and national-security race with the US." A faltering Chinese economy will suppress demand for commodities like oil seeds and grain, hitting US farmers especially hard. For the US economy, China as a workshop is much more important than China as a consumer. Now that China's economic supercycle is over, that may be the cycle we're about to witness.

Persons: We've, Xi Jinping, Lee Miller, it's, Xi's, —, Xu Jiayin, Charlene Chu, Chu, Chu —, Victor Shih, Shih, that's, they're, Zhang, Beijing's largess, Miller, It's, they'll, Chinese Communist Party that's, Anne Stevenson, Yang, isn't, Stevenson, Linette Lopez Organizations: Chinese Communist Party, CCP, Trust, Autonomous Research, Bloomberg, Autonomous, Century China Center, University of California, J Capital Research, Japan, Nike, Starbucks, WSJ, China, Companies Locations: China, Beijing, Cities, Shanghai, It's, Shenyang, metropolises, Shenzhen, Europe, Wall, —, University of California San Diego, Middle Kingdom, Mexico, Vietnam, New York City

☆ It’s official: The era of China’s global dominance is over
▼ + stars: | 2023-10-15 | by ( Linette Lopez | ) www.businessinsider.com time to read: +19 min

We've reached the end of an era for the Chinese economy. Unless dramatic action is taken, the future of China's economy is looking less like a young dynamo and more like an old, slow-moving blob. A faltering Chinese economy will suppress demand for commodities like oil seeds and grain, hitting US farmers especially hard. For the US economy, China as a workshop is much more important than China as a consumer. Now that China's economic supercycle is over, that may be the cycle we're about to witness.

Persons: We've, Xi Jinping, Lee Miller, it's, Xi's, —, Xu Jiayin, Charlene Chu, Chu, Chu —, Victor Shih, Shih, that's, they're, Jinping, Zhang, Miller, It's, they'll, Chinese Communist Party that's, Anne Stevenson, Yang, isn't, Stevenson, Linette Lopez Organizations: Chinese Communist Party, CCP, Trust, Autonomous Research, Bloomberg, Autonomous, Century China Center, University of California, J Capital Research, Japan, Nike, Starbucks, Companies Locations: China, Beijing, Cities, Shanghai, It's, Shenyang, metropolises, Shenzhen, Europe, Wall, —, University of California San Diego, Middle Kingdom, Mexico, Vietnam, New York City, United States

☆ Siemens is case study in China de-risking dilemma
▼ + stars: | 2023-10-04 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +9 min

That’s unsettling for the likes of Siemens, $62 billion carmaker Volkswagen (VOWG_p.DE) and $39 billion chemicals group BASF (BASFn.DE). Factor in the German group’s 32% stake in Siemens Energy (ENR1n.DE) and 75% holding in Siemens Healthineers (SHLG.DE), currently worth 46 billion euros, and it adds up to 156 billion euros. The unit and Siemens’ Airport Logistics unit, which press reports say could be another divestment candidate, may only be worth 4 billion euros combined. Moreover, Kaeser already tried to boost Siemens’ valuation by partially spinning off subsidiaries. As of September, Siemens had bought back 2.5 billion euros of shares since starting a 3 billion euro share repurchase programme in November 2021.

Persons: Roland Busch, France’s Legrand, Busch, Joe Kaeser, he’s, Kaeser, Germany’s Bundesbank, Siemens, Goldman Sachs, Judith Wiese, George Hay, Oliver Taslic Organizations: Reuters, Siemens, Germany’s, Barclays, Reuters Graphics Reuters, Volkswagen, BASF, Software, Dassault, Automation, ABB, Smart Infrastructure, Siemens Energy, Siemens ’ Mobility, France’s Alstom, CRRC Corporation, Siemens ’ Airport Logistics, Siemens Healthineers, Toshiba Corp, Energy, BNP, Bloomberg, Financial Times, Thomson Locations: China, Brussels, Beijing, Germany, EMEA, Swiss, Middle Kingdom, Republic, Shenzhen, Sichuan, Chengdu, Southeast Asia, Indonesia, Vietnam, Thailand

HONG KONG, Aug 23 (Reuters Breakingviews) - Volkswagen’s (VOWG_p.DE) China shortcut sets a tricky roadmap for its western rivals. An increasingly competitive Chinese market means others may also need to plot a new route. VW’s western peers may feel they do not need to follow in its tracks. Second, VW’s Xpeng deal highlights how companies need to adapt quickly to stay relevant in China. Both partnerships will see the companies jointly develop intelligent, connected electric vehicles for the Chinese market.

Persons: China’s, that’s, Bernstein, Alix, Elon Musk’s, VW’s, Auto, Neil Unmack, Pranav Kiran, Thomas Shum Organizations: Reuters, HK, FAW, SAIC, VW, BMW, upstarts, Alix Partners, Elon, Mercedes, Benz, Nissan, General Motors, Honda, Toyota, Volkswagen, Volkswagen’s Audi, Zhejiang Leapmotor Technology, Jetta, Thomson Locations: HONG KONG, China, Xpeng, Kingdom, Shanghai, Hong Kong, Zhejiang

☆ North Korean plane lands in China for first time in three years
▼ + stars: | 2023-08-22 | by ( Mihir Melwani | ) edition.cnn.com time to read: +1 min

CNN —Air travel between the Hermit Kingdom and the Middle Kingdom is possible once again. Air Koryo flight JS151 from Pyongyang, North Korea’s capital, arrived at Beijing’s PEK airport on Tuesday at 9:17 a.m. local time, according to the Beijing Capital International Airport website. The resumption of North Korean flag carrier Air Koryo’s regular flights between China and the DPRK was approved by Chinese authorities amid the changes in Chinese covid travel restrictions in January, according to a statement by China’s Ministry of Foreign Affairs. Meanwhile, regular flights between North Korea and Russia are set to resume on Friday, August 25, for the first time since the Covid-19 pandemic, as previously reported by CNN. The one-hour flights travel between Pyongyang and the southeastern Russian city of Vladivostok, where North Korean leader Kim Jong Un and Russian President Vladimir Putin met for a summit in 2019.

Persons: Kim Jong Un, Vladimir Putin, CNN’s Paula Hancocks, Lilit Marcus, Yoonjung Seo Organizations: CNN, Air, Beijing Capital International, Air Koryo’s, DPRK, China’s Ministry of Foreign Affairs, North Locations: Hermit, Kingdom, Pyongyang, North, Beijing’s PEK, North Korea, Korean, China, Russia, Russian, Vladivostok

☆ Opinion | A Look Back at Our Coming War With China
▼ + stars: | 2023-07-18 | by ( Carlos Lozada | ) www.nytimes.com time to read: +4 min

For instance, what if China seeks to take the island by force and Washington opts to not respond? Published in 2021, “2034,” is basically a beach read about how we get to nuclear war. In “The Avoidable War,” Rudd cautions that the incentives for Beijing and Washington to escalate hostilities, whether to save lives or save face, “could prove irresistible.” Ackerman and Stavridis follow that script. Both the United States and China view themselves in exceptional terms, Allison explains, as nations of destiny. “China will be a falling power far sooner than most people think,” Brands and Beckley declare.

Persons: ” Kevin Rudd, ” Rudd, Rudd, ”, Elliot Ackerman, James Stavridis, “, Allison, Thucydides, ” Ackerman, —, Xi Jinping, China’s Organizations: Marine, NATO, Harvard, U.S, . Security, Brands, Beckley, ” Brands Locations: Xi, China, Australia, Taiwan, Washington, Munich, United States, Iraq, Afghanistan, South China, U.S, Beijing, San Diego, Shanghai, India, New York, New Delhi, America, China’s, Beckley

☆ This is about to be the summer of Tom Cruise — again
▼ + stars: | 2023-06-13 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

Tom Cruise looks like he's headed for another summer on top at the box office. A China opening could add millions of dollars to the film's gross — and to Cruise's pockets. Tom Cruise had a pretty great 2022, with a top-grossing film, a best picture nomination at the Oscars, and a slew of good press. But this isn't just good for "Mission Impossible" — it will also boost Cruise's payday, which is likely linked to the film's performance. But for Cruise, every dollar — or Yuan — that the films brings in means more money to his pocket.

Persons: Tom Cruise, Ethan Hunt, Strange, It's, Cruise, Yuan —, lister, Hunt Organizations: Epoch Times, Dominion, Variety, Cruise Locations: China, Middle Kingdom

☆ Pro wrestlers return to China as global bouts resume after pandemic
▼ + stars: | 2023-06-07 | 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: +1 min

SHANGHAI, June 7 (Reuters) - Not only presidents and chief executives are making their way to China to reconnect after three years of border closures, but also international professional wrestlers, who returned this week after the COVID-19 pandemic. "We are glad to let the world know, 'Hey, Chinese wrestling is back'," said event promoter Adrian Gomez. A cast of colourfully dressed characters - both heroes and villains - hammed it up for the audience, in the spirit of the storied WWE, the best-known pro wrestling body. International participants included former WWE pro wrestler Yoshi Tatsu from Japan and Malaysia's Nor "Phoenix" Diana, who is known as the first hijab-wearing pro wrestler. Gomez said the return of international wrestlers signalled a huge change in fortunes for Chinese pro wrestling, which has battled to stage domestic live matches since COVID curbs were imposed in early 2020, sometimes with no audience at all.

Persons: Adrian Gomez, colourfully, Yoshi Tatsu, Diana, Wang Tao, Gomez, we've, Casey Hall, Clarence Fernandez Organizations: Middle Kingdom, WWE, Thomson Locations: SHANGHAI, China, Japan, United States

☆ Slowing growth will crash European stock party
▼ + stars: | 2023-05-02 | by ( Francesco Guerrera | ) www.reuters.com time to read: +6 min

LONDON, May 2 (Reuters Breakingviews) - European shares have been on the rise for seven months, outshining their U.S. counterparts, and are now just 6% below their record high. Luck played a part in the recent European surge. Natural gas prices have fallen more than 80% since their August peak, boosting economic growth and reducing companies’ costs. Analysts currently expect a 0.4% fall in European companies’ earnings per share (EPS) in 2023, according to Barclays. European investors have had an unusually enjoyable, and profitable, ride.

☆ Hotels share revival shrugs off two crises
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 21 (Reuters Breakingviews) - Hotel groups are in restoration mode. Chief Executive Keith Barr reckons the year ahead will continue to see strong demand, boosted by China’s re-opening. In 2019, the People’s Republic accounted for around 10% of the hotel market, and its citizens spent over $250 billion on international tourism, according to the World Tourism Organisation. Yet Covid-19 may still hurt spending in the Middle kingdom, and geopolitical tensions may lead to fewer Chinese people travelling. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Egypt opens 4,000-year-old tomb on Luxor's West Bank, oldest open to public
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

The Egyptian Ministry of Antiquities/Handout via REUTERSCAIRO, Feb 9 (Reuters) - Egypt has restored, documented and opened to tourists the Middle Kingdom tomb of Meru, the oldest site accessible to the public on Luxor's West Bank, home to some of its most spectacular Pharaonic monuments including the Valley of the Kings. Meru's rock-hewn tomb was restored by the Polish Centre for Mediterranean Archaeology at the University of Warsaw and Egypt's Supreme Council of Antiquities. "This is the only decorated room of the tomb, with an unusual decoration of painting on lime plaster," Yassin said. Meru's tomb had been known since at least the mid-19th century, according to the Polish Egyptian archaeological mission. Some of the Middle Kingdom's most prominent officials were buried at North Asasif, the statement said.

LONDON/HONG KONG, Feb 1 (Reuters Breakingviews) - China has been a golden goose for western carmakers like Volkswagen (VOWG_p.DE) and BMW (BMWG.DE). Chinese groups like electric vehicle leader BYD (002594.SZ), (1211.HK) are targeting foreign markets. At JATO’s estimate of 56,000 euros, the average price of an electric vehicle in Europe is still too high for most punters. The lower cost of manufacturing in China may help Chinese carmakers absorb tariffs, while western groups could suffer from reprisals. The result may be that western groups have to jostle for a smaller place in their home markets but also cut prices, hurting profitability.

HONG KONG, Dec 21 (Reuters Breakingviews) - China has become a headache for Western executives. The good news is that the dilemma need not require drastic action from U.S. and European chief executives, since local Chinese partners could solve the problem by relocating themselves. Foreign executives have had a hard time dealing with China’s zero-Covid policy, rising labour costs and U.S. tariffs. On the other hand, existing economic interests plus Beijing’s renewed push to attract foreign investment both argue for staying put. But if Chinese suppliers now start boosting foreign investment to keep hold of key customers, the government may have little choice but to give its blessing.

In this article BTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTKris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Paul Yeung | Bloomberg | Getty ImagesKris Marszalek wants everyone to know that his company, Crypto.com, is safe and in good hands. While no evidence has emerged of wrongdoing at Crypto.com, Marszalek's business history is replete with red flags. Over the course of 2008 and 2009, Marszalek and his partner were transferred nearly $3 million in payments from Starline, according to the documents. As a result, when the bank forced Starline into liquidation, Marszalek and his partner were forced into bankruptcy as well.

☆ Western firms’ Chinese red lines are not their own
▼ + stars: | 2022-12-02 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Yet companies’ red lines on China are out of their hands. Undeterred by growing geopolitical tensions and slowing Chinese growth, several Western companies have this year intensified the rate at which they bet on the People’s Republic. If Western states decide to impose sanctions, boards would have their red lines decided for them. Western companies will keep betting on the Middle Kingdom, until their governments stop them. The report predicts China will become the largest global market for luxury goods by 2025.

☆ The Thoughts of Chairman Xi
▼ + stars: | 2022-10-16 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

The most important election in the world this year is no election at all. When China’s Communist Party anoints President Xi Jinping for a third five-year term this week, it will confirm China’s combination of aggressive nationalism and Communist ideology that is the single biggest threat to world freedom. It all but guarantees an era of confrontation between China and the U.S.***We say this with regret, and not only because war with China would be a catastrophe. When China embarked on its reform project under Deng Xiaoping in the early 1980s, there was reason to hope that the Middle Kingdom might eventually leave behind its murderous Communist past. For a time, into the 2000s, that still seemed possible as reforms continued and Chinese living standards increased.

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