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☆ Mega El Niño events may have caused planet’s greatest mass extinction
▼ + stars: | 2024-09-12 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

The El Niño of 252 million years ago would have originated in the Panthalassic Ocean, a body of water much larger than today’s Pacific that could hold more heat, which in turn would have strengthened and sustained El Niño effects. The planet had experienced similar episodes earlier but they hadn’t triggered a mass extinction. A prolonged and intense El Niño also explained why extinctions had begun on land before they occurred in the ocean, the study said. This data showed how temperature rose at different latitudes as the mass extinction unfolded. El Niño events today are known to cause coral bleaching and mass mortality of fish, the study noted, but the ecological impact and future trajectory of El Niño events in a warming climate are unknown.

Persons: ”, Paul Wignall, David Bond, Paul Wignall El, Alex Farnsworth, El, ” Wignall, Niño, “, Yadong Sun, Niños, Wignall, Farnsworth, Alfio Alessandro Chiarenza, Chiarenza, wasn’t Organizations: CNN, University of Leeds, El, University of Hull, UK’s University of Bristol, China University of Geosciences, University of Bristol, Royal Society Newton International, University College London’s, supervolcanoes Locations: what’s, Russia, United Kingdom, Ellesmere, El, Pacific, Wuhan

☆ China hopes to reach a solution with the EU on EV tariffs 'as soon as possible'
▼ + stars: | 2024-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Employees work on the assembly line of electric vehicles in a digital automotive factory of Jiangling Motors on May 17, 2024. BEIJING — China hopes to reach an agreement with the European Union soon on the bloc's planned tariffs for imported Chinese electric cars, the Ministry of Commerce said Thursday. The European Commission announced in mid-June that if discussions with China did not go well, the bloc would start to impose additional duties on imported Chinese EVs on Thursday, July 4. "Definitive measures" would take effect four months after that date, according to a press release. He reiterated China's opposition to the European Union's anti-subsidy probe and pointed out the two sides still have a four-month window.

Persons: Yadong Organizations: Jiangling Motors, European Union, Ministry of Commerce, European Commission, Commerce Ministry, CNBC Locations: Jiangling, BEIJING, China

☆ China-built EVs hit with EU tariffs; Nio says it may have to raise prices in Europe
▼ + stars: | 2024-07-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

The EU's decision comes at a time when Chinese automakers have been aggressively expanding into Europe with competitively priced offerings, posing a threat to the region's top automakers, many of which have lagged behind in EVs. It did not comment on whether it would end up raising prices as a result of the levies. When the EU first announced the tariffs last month, Tesla said it will likely increase the Europe prices of its Model 3 vehicle. The EU has yet to say what specific level of tariffs Tesla will face, but noted last month that the U.S. automaker "may receive an individually calculated duty rate." watch nowChinese and EU officials have held several rounds of meetings to discuss the tariffs, with Beijing in June criticizing the EU's imposition of tariffs as a "protectionist act."

Persons: Nio, Xpeng, Tesla, Yadong Organizations: Union, European Commission, European Union, Automakers, EV, CNBC, EU, U.S ., Commerce Ministry Locations: China, Shanghai, Europe, EVs, Beijing

☆ The U.S. needs more of this critical metal — and China owns 80% of its supply chain
▼ + stars: | 2024-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Picture Alliance | Picture Alliance | Getty ImagesBEIJING — China dominates the supply chain for many of the world's critical minerals, but so far it's held off on sweeping restrictions on at least one: tungsten. Almonty claims the forthcoming mine in South Korea has the potential to produce 50% of the world's ex-China tungsten supply. "We see in the U.S., in Europe, they ask their suppliers for a China-free supply chain," said Michael Dornhofer, founder of metals consulting firm Independent Supply Business Partner. watch nowBack in January, U.S.-based research firm Macro Ops said: "We're approaching an inflection point in tungsten supply. Other non-Chinese companies in the tungsten supply chain are going to South Korea.

Persons: Lewis Black, Biden, Black, Yadong, Almonty, Michael Dornhofer, Dornhofer, Brandon Beylo, he's, Mark Seddon, Warren Buffett Organizations: Saxony Minerals, ., Getty, Taiwan Semiconductor Manufacturing Company, Nvidia, Almonty Industries, China's Ministry of Commerce, Independent Supply, Energy, Security Holdings, European, Chinese Communist Party, U.S . Bureau of Industry, Security, Department of Commerce, CNBC, Argus, IMC, IMC Group Locations: Germany, BEIJING, China, Canada, South Korea, U.S, Europe, United States, South Korea China, North Korea, Africa, Myanmar, Daegu

☆ Western countries are lining up to name and shame China for overproduction
▼ + stars: | 2024-05-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Read previewWestern countries are lining up to call out China for its barrage of cheap exports that are flooding the world's markets. "We will continue to monitor the potential negative impacts of overcapacity and will consider taking steps to ensure a level playing field, in line with World Trade Organization (WTO) principles." China pushes back on criticism, industrial profits rose in AprilBeijing has consistently resisted the West's criticism that it is dumping cheap goods on the world market. Chinese authorities say the West's accusations are protectionist and aimed at containing China's economic growth. In April, profits at China's industrial companies rose 4% from a year ago, reversing a drop in March, according to official statistics released on Monday.

Persons: —, Janet Yellen, Olaf Scholz, Bruno Le Maire, Yu Weining, Joe Biden, Biden, Josh Lipsky, Lipsky Organizations: Service, Business, EU, Bloomberg, World Trade Organization, China's Commerce Ministry, European Commission, International Monetary Fund Locations: China, France, Stresa, Italy, Beijing, United States

☆ China lifts tariffs on Australian wine, ends three-year freeze in trade
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: +3 min

China will lift anti-dumping and anti-subsidy tariffs on Australian wine from March 29, the Chinese commerce ministry said on Thursday, ending three years of punitive levies and offering long-awaited relief to Australian wine producers. "We welcome this outcome, which comes at a critical time for the Australian wine industry," the Australian government said in a statement. "Since 2020, China's duties on Australian wine effectively made it unviable for Australian producers to export bottled wine to that market. When the tariffs on Australian wine were levied in 2021, Canberra urged the WTO to arbitrate in the dispute. "Today's announcement is a significant positive not only for Treasury Wine Estates, but also for the Australian wine industry and wine consumers in China," CEO Tim Ford said in a statement.

Persons: Australia's, Tim Ford Organizations: World Trade Organisation, WTO, Wine, Treasury Wine Estates Locations: Chirnside Park, Victoria, Australia, China, Canberra, Beijing

We'll also guide you step-by-step on how to use a VPN to watch UFC 299, no matter where you are. ET / 3 a.m. GMT (Sun) / 11 a.m. AWST (Sun)How to watch UFC 299 in the USUS viewers can watch the main event of UFC 299 on ESPN Plus tonight at 10 p.m. UFC PPV + Annual ESPN+ Membership (Bundle) ESPN+ is the home of UFC PPV events, meaning that fans need to purchase a subscription in addition to buying the one-off cards. Where to watch UFC 299 everywhere elseIf you're not in the US, you still have a few options to watch UFC 299. In Canada, UFC 299 will be available as a pay-per-view through most TV providers and directly via UFC Fight Pass.

Persons: Sean O'Malley's, Marlon Vera, There's, Dustin Poirier, Benoit Saint, Denis, We'll, ExpressVPN, O'Malley, Vera Main, Sean O'Malley, Kevin Holland, Michael Page, Gilbert Burns, Jack Della Maddalena, Petr Yan, Curtis Blaydes, Jailton Almeida, Katlyn, Maycee Barber, Mateusz, Rafael dos Anjos, Pedro Munhoz, Kyler Phillips, Philipe, Michel Pereira, Michal Oleksiejczuk, Robelis, Josh Parisian, CJ Vergara, Assu Almabayev, Joanne Wood, Maryna Moroz Organizations: Business, Kaseya, UFC, ESPN Plus, ESPN, TNT Sports, Amazon, Apple, PlayStation, Samsung, BT, BT Sport, League, LG Locations: Canada, Australia, New Zealand, Germany, Italy, Spain, Poland, Switzerland, Asia, Africa, Brazil

Now "it's like 'plus-10' and then China," he added, with the latter down to providing half of Industry West's products and being trimmed more. China recorded its first-ever quarterly deficit in foreign direct investment in July-September, suggesting capital outflow pressure. But for the first time in the four decades since China opened up to foreign investments, executives are now also concerned about long-term growth prospects. Primavera Capital founder Fred Hu cites mounting macroeconomic uncertainty, a "murky capital market outlook," and lingering concerns over past regulatory crackdowns on high-growth industries such as technology and education. Despite the challenges, foreign investment flows are not unidirectional.

Persons: Jordan England, Nicholas Lardy, England, I'm, Li Qiang's, Li, Michael Hart, Noah Fraser, Fred Hu, Hu, Joe Cash, Ellen Zhang, Kane Wu, Eduardo Baptista, Don Durfee, Kripa Jayaram, Marius Zaharia, Jamie Freed Organizations: China, Reuters, Peterson Institute for International Economics, LONG, Conference Board, China International, Canada China Business Council, Reuters Graphics, Primavera Capital, Tech, Thomson Locations: China, BEIJING, HONG KONG, Southeast Asia, Eastern Europe, Mexico, England, Florida, Washington, Beijing, consultancies, U.S, Asia, Australia, Europe, Hong Kong

☆ China has issued some export licences for gallium and germanium
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: 1 min

The flag of China is placed next to the elements of Gallium and Germanium on a periodic table, in this illustration picture taken on July 6, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsBEIJING, Sept 21 (Reuters) - Some Chinese companies have obtained export licences for gallium and germanium products, the commerce ministry said on Thursday, after Beijing introduced new conditions for exports on Aug. 1. The Ministry of Commerce has approved applications from some companies that meet relevant requirements, spokesman He Yadong said at a regular press briefing. Reporting by Joe Cash, Albee Zhang, and Amy Lv in Beijing; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Yadong, Joe Cash, Albee Zhang, Amy Lv, Jason Neely Organizations: REUTERS, Rights, of Commerce, Thomson Locations: China, Rights BEIJING, Beijing

☆ China approves export licences for chip materials gallium, germanium
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The flag of China is placed next to the elements of Gallium and Germanium on a periodic table, in this illustration picture taken on July 6, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsBEIJING, Sept 21 (Reuters) - Some Chinese companies have obtained export licences for gallium and germanium products, the commerce ministry said on Thursday, after Beijing set new conditions on exports from Aug. 1. The comments came after China's exports of germanium and gallium items plunged in August, the first month of the export controls，customs data showed on Wednesday. China unveiled curbs that month on exports of eight gallium and six germanium products, starting from August. The new rules require exporters of germanium and gallium products to obtain an export licence for dual-use items and technologies, or those which have potential military and civilian uses.

Persons: Florence Lo, Yadong, Joe Cash, Albee Zhang, Amy Lv, Jason Neely, Clarence Fernandez Organizations: REUTERS, Rights, Thomson Locations: China, Rights BEIJING, Beijing, Washington

☆ China's gallium, germanium exports drop to zero as tech war simmers
▼ + stars: | 2023-09-21 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. In July, the country exported 5.15 metric tons of forged gallium products and 8.1 metric tons of forged germanium products. The curbs are indicative of China’s apparent willingness to retaliate against US export controls, despite concerns about economic growth, as a tech war simmers. Prices for gallium have fallen in China, as export controls caused inventories to pile up. The model is powered by an advanced chip, which was created despite US sanctions intended to cut the Chinese tech giant off from such technology.

Persons: Biden Organizations: Hong Kong CNN —, Eurasia Group, China's Zhejiang University, China's Zhejiang University Hangzhou International Science, Innovation, Publishing, Shanghai Metal, Micron, Huawei, Semiconductor Manufacturing International Corp, Jefferies, China Locations: China, Hong Kong, Beijing, China's Zhejiang University Hangzhou, Shanghai, United States, Japan, Netherlands, Washington

☆ Mexico is trying to be best new trade buddies with both the US and China — but it might not be able to handle the pressure
▼ + stars: | 2023-09-20 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

Mexico is now America's top trade partner thanks to US-China tensions and "nearshoring." AdvertisementAdvertisementMexico's infrastructure is not readyBeing a more attractive trade partner to the US is one thing. China is now Mexico's largest trading partner globally, and Mexico is already China's second-largest trade partner in Latin America. China's Foreign Direct Investment in Mexico is still small (about 1% of Mexico's Foreign Direct Investment) but it is its fastest-growing source of outside investment. If Mexico's economy is going to surge, it needs to be more than just a middleman.

Persons: Luis Torres, —, Tesla, JULIO CESAR AGUILAR, Xi Jinping, Lintao Zhang, Kearney, Gerardo Esquivel Organizations: Service, Federal Reserve Bank of, Foreign, Investment, Bloomberg, Getty, Publishing Locations: Mexico, China, Wall, Silicon, Federal Reserve Bank of Dallas, Monterrey, Nuevo Leon, Nuevo León, Latin America, Yantai, Shandong Province, Mexican, United States

HONG KONG (AP) — China's Commerce Ministry has protested a decision by the European Union to investigate exports of Chinese electric vehicles, saying Thursday that it is a “protectionist” act aimed at distorting the supply chain. The EU announced Wednesday it will probe government subsidies provided to Chinese automakers that the EU contends keep EV prices artificially low. China has become the biggest market for electric vehicles after investing billions in subsidies to gain an edge. “It’s naked protectionist behavior that will seriously disrupt and distort the global automotive industrial chain and supply chain including the European Union, and will have a negative impact on China–EU economic and trade relations,” he said. Cui urged the EU to take an “objective view of the development of China’s electric vehicle industry” instead of using what he said are economic and trade tools to increase the costs of Chinese electric vehicles in Europe.

Persons: Yadong, “, ”, Cui Dongshu, ” Cui, Cui Organizations: —, Commerce, European Union, EU, China Passenger Car Association Locations: HONG KONG, China, EVs, Japan, Europe, Beijing, EU

Italy's Foreign Minister Antonio Tajani addresses the opening session on the first day of the Ukraine Recovery Conference in London, Britain June 21, 2023. The hugely ambitious project sees China strengthening trade ties with large infrastructure spending in countries along the historic Silk Road route via Asia to Europe and beyond. "China is willing to work with Italy to continue to deepen mutually beneficial cooperation, explore opportunities for potential trade and investment... and promote further development of the China-Italy comprehensive strategic partnership," said He Yadong, a commerce ministry spokesperson. SENSITIVE DIPLOMACYItaly's trade deficit with China grew by 22.3 billion euros ($23.9 billion) between 2019 and 2022, according to the Italian Ministry of Foreign Affairs. So far, 90 countries have confirmed attendance, China's foreign ministry announced on Thursday.

Persons: Antonio Tajani, Henry Nicholls, Xi Jinping, Wang Yi, Italy's, Tajani, Joe Cash, Ryan Woo, Giselda Vagnoni, Alvise Armellini, Federico Maccioni, Kim Coghill, Andrew Cawthorne Organizations: Italy's, Conference, Rights, Initiative, Italian Ministry of Foreign Affairs, RAI, American Enterprise Institute, AC Milan, Inter, Thomson Locations: Ukraine, London, Britain, Rights BEIJING, China, Italy, Beijing, Asia, Europe, Rome, Inter Milan

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