DIRS.INFO The most relevant business & tech news

☆ Southeast Asia is on the cusp of a 'supercharged' digital payments revolution, PwC says
▼ + stars: | 2023-11-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Widespread mobile ownership, together with rapid digitalization after the pandemic, helped spur the expansion of digital financial services in Southeast Asia, said PwC. PwC"This enhanced availability and convenience of digital payments will see the bulk of the regional population leveraging mainstream digital financial products, such as e-wallets, further expediting the expansion of financial services," said PwC. watch now"Consumers are adopting digital financial services at a rapid pace. Cash is no longer king, as digital payments now make up more than 50% of the region's transactions," a recent Google, Temasek and Bain & Company report wrote. "In some regions such as Southeast Asia, [digital payments via e-wallets] are already more common than physical card payments and set to dominate point-of-sale [systems] overall," wrote Dan Jones and Alex Walker of OliverWyman.

Persons: PwC, hawkers, —, Cash, Dan Jones, Alex Walker of OliverWyman Organizations: Banking, Getty, Careem, Mercado Libre, Temasek, Bain & Company Locations: China, East Asia, Shanghai, Banking Asia, Asia, Southeast Asia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Brunei, Laos, Cambodia, Paytm, India, AliPay, Latin America

☆ Chinese fighter jets 'orbit' Philippine patrol aircraft, Manila says
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

MANILA, Nov 26 (Reuters) - Two Chinese fighter jets were monitored "orbiting" a Philippine aircraft participating in patrols with Australia in the South China Sea but did not cause any untoward incident, Manila said on Sunday. China has accused the Philippines of enlisting "foreign forces" to patrol the South China Sea and stirring up trouble. The West Philippine Sea is Manila's term for waters in the South China Sea that fall within its exclusive economic zone. The Chinese aircraft continued on its flight route without further incident, Trinidad said. Participating in the joint drills were two Philippine navy vessels and five Philippine surveillance aircraft, and Australia's frigate Toowoomba and P8-A maritime surveillance aircraft.

Persons: China's, Xerxes Trinidad, Romeo Brawner, Karen Lema, William Mallard Organizations: ., South China, Toowoomba, Thomson Locations: MANILA, Philippine, Australia, South, Manila, Philippines, China, Vietnam, Indonesia, Malaysia, Brunei, South China, U.S, West Philippine, Trinidad

☆ Philippines, Australia start sea, air patrols in South China Sea
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +3 min

Earvin Perias/Pool via REUTERS/File Photo Acquire Licensing RightsMANILA, Nov 25 (Reuters) - The Philippines and Australia began their first joint sea and air patrols in the South China Sea on Saturday, days after Manila took similar steps with the U.S. as Pacific nations warily eye an increasingly assertive China. China claims almost the entire South China Sea, a conduit for more than $3 trillion of annual ship-borne commerce, including parts claimed by the Philippines, Vietnam, Indonesia, Malaysia and Brunei. The Philippines is ramping up efforts to counter what it describes as China's "aggressive activities" in the South China Sea, which has also become a flashpoint for Chinese and U.S. tensions around naval operations. The patrols will be carried out in the West Philippine Sea, said Philippine Department of National Defense spokesperson Arsenio Andolong, using Manila's term for waters in the South China Sea that fall within its exclusive economic zone. China has accused the Philippines of enlisting "foreign forces" to patrol the South China Sea and stirring up trouble.

Persons: Ferdinand Marcos Jr, Anthony Albanese, Earvin, China's, Richard Marles, Marcos, Marles, Arsenio Andolong, Karen Lema, William Mallard Organizations: Australia's, Rights, Australia, ., Philippine, Australian Defence Force, Armed Forces, Philippine Department of National Defense, South China, Toowoomba, Cooperative, Thomson Locations: Manila, Philippines, Rights MANILA, South, China, Australia, Vietnam, Indonesia, Malaysia, Brunei, South China, U.S, West Philippine, Philippine, United, Taiwan, West Philippine Sea

☆ China, US exchange accusations over US vessel in South China Sea
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +2 min

BEIJING/SHANGHAI, Nov 26 (Reuters) - China and the United States exchanged accusations at the weekend over the disputed South China Sea, after China's military said it had driven away a U.S. warship that the U.S. Navy said was on a routine freedom of navigation operation. The U.S. Navy said on Sunday that the Hopper had "asserted navigational rights in the South China Sea near the Paracel Islands, consistent with international law". China claims almost the entire South China Sea, a conduit for more than $3 trillion of annual ship-borne commerce, including parts claimed by the Philippines, Vietnam, Indonesia, Malaysia and Brunei. This weekend's incident, China said, "proves that the United States is an out-and-out 'security risk creator' in the South China Sea". "Unlawful and sweeping maritime claims in the South China Sea pose a serious threat to the freedom of the seas."

Persons: Hopper, China's, Kristina Weidemann, Casey, Laurie Chen, Ben Blanchard, Mark Potter, Edmund Klamann Organizations: United, U.S . Navy, People's Liberation Army Southern Theatre Command, U.S, Australia, Philippine, U.S . 7th Fleet, U.S . State Department, Casey Hall, Thomson Locations: BEIJING, SHANGHAI, China, United States, U.S, South China, Philippines, Vietnam, Indonesia, Malaysia, Brunei, Beijing, Manila, South, Shanghai, Taipei

Travellers walk with their suitcases at Beijing Daxing International Airport in Beijing, China April 24, 2023. A recent Pew Research Center survey in 24 countries revealed that views of China were broadly negative, with 67% of adults expressing unfavourable views. Visa-free travel to Germany for Chinese nationals would only be possible if all members of the European Schengen Agreement approved, she said. This month, China expanded its visa-free transit policy to 54 countries to include citizens of Norway. It resumed 15-day visa-free entry for citizens of Singapore and Brunei in July.

Persons: Tingshu Wang, Patricia Flor, Catherine Colonna, Wang Yi, Joe Cash, Ethan Wang, Ryan Woo, Christopher Cushing, Kim Coghill, Miral Organizations: Beijing Daxing International, REUTERS, Rights, Pew Research Center, Visa, French, Chamber of Commerce, Thomson Locations: Beijing, China, Rights BEIJING, France, Germany, Italy, Netherlands, Spain, Malaysia, Taiwan, Norway, Singapore, Brunei

☆ Philippines, Australia Start Sea, Air Patrols in South China Sea
▼ + stars: | 2023-11-24 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

MANILA (Reuters) - The Philippines and Australia began their first joint sea and air patrols in the South China Sea on Saturday, days after Manila took similar steps with the U.S. as Pacific nations warily eye an increasingly assertive China. China claims almost the entire South China Sea, a conduit for more than $3 trillion of annual ship-borne commerce, including parts claimed by the Philippines, Vietnam, Indonesia, Malaysia and Brunei. The Philippines is ramping up efforts to counter what it describes as China's "aggressive activities" in the South China Sea, which has also become a flashpoint for Chinese and U.S. tensions around naval operations. The Philippines and the United States concluded three-day joint sea and air patrols on Thursday, starting in waters near Taiwan, a democratically governed island that China claims as its own, and ending in the West Philippine Sea. China has accused the Philippines of enlisting "foreign forces" to patrol the South China Sea and stirring up trouble.

Persons: Ferdinand Marcos Jr, China's, Richard Marles, Marcos, Marles, Arsenio Andolong, Karen Lema, William Mallard Organizations: Australia, ., Philippine, Australian Defence Force, Armed Forces, Philippine Department of National Defense, South China, Toowoomba, Cooperative Locations: MANILA, Philippines, South, Manila, China, Australia, Vietnam, Indonesia, Malaysia, Brunei, South China, U.S, West Philippine, Philippine, United, Taiwan, West Philippine Sea

☆ Philippines' South China Sea patrols with US within its rights -security adviser
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

Philippine Air Force/Handout via REUTERS/... Acquire Licensing Rights Read moreMANILA, Nov 24 (Reuters) - The Philippines' joint patrols with the United States in the South China Sea are within Manila's rights, and it will continue to support a free and open Indo-Pacific, its national security adviser said on Friday. The Southeast Asian nation rejects China's assertion that the Philippines enlisted "foreign forces" to patrol the South China Sea, National Security Adviser Eduardo Año said in a statement, responding to Beijing's remarks. Teodoro said there will be several iterations of joint patrols moving forward. The treaty allies conducted joint patrols from Tuesday to Thursday in waters near Taiwan and the South China Sea within Manila's exclusive economic zone (EEZ), fanning further tensions with China. China claims most of the South China Sea on the basis of a "nine-dash line" that stretches as far as 1,500 km (900 miles) south of its mainland, cutting into the EEZs of rival claimants Brunei, Indonesia, Malaysia, the Philippines and Vietnam.

Persons: Eduardo Año, Gilberto Teodoro, Teodoro, Neil Jerome Morales, Mikhail Flores, Jamie Freed Organizations: Philippine Air Force, Pacific Command, . Maritime, South China, REUTERS, Philippines, National, Thomson Locations: U.S, Philippines, Batanes, South, MANILA, United States, South China, China, Taiwan, Brunei, Indonesia, Malaysia, Vietnam

☆ Philippines' South China Sea Patrols With US Within Its Rights -Security Adviser
▼ + stars: | 2023-11-24 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

MANILA (Reuters) - The Philippines' joint patrols with the United States in the South China Sea are within Manila's rights, and it will continue to support a free and open Indo-Pacific, its national security adviser said on Friday. The Southeast Asian nation rejects China's assertion that the Philippines enlisted "foreign forces" to patrol the South China Sea, National Security Adviser Eduardo Año said in a statement, responding to Beijing's remarks. Teodoro said there will be several iterations of joint patrols moving forward. The treaty allies conducted joint patrols from Tuesday to Thursday in waters near Taiwan and the South China Sea within Manila's exclusive economic zone (EEZ), fanning further tensions with China. China claims most of the South China Sea on the basis of a "nine-dash line" that stretches as far as 1,500 km (900 miles) south of its mainland, cutting into the EEZs of rival claimants Brunei, Indonesia, Malaysia, the Philippines and Vietnam.

Persons: Eduardo Año, Gilberto Teodoro, Teodoro, Neil Jerome Morales, Mikhail Flores, Jamie Freed Organizations: Philippines, National Locations: MANILA, Philippines, United States, South China, China, Taiwan, South, Brunei, Indonesia, Malaysia, Vietnam

BANGKOK (AP) — The United States and the Philippines are conducting joint air and maritime patrols in the South China Sea, which come as the two countries step up cooperation in the face of growingly aggressive Chinese activity in the area. The patrols run through Thursday and also include both the U.S. and Philippine navies. They come only days after Philippines President Ferdinand Marcos Jr. called the situation in the South China Sea increasingly “dire” as China seeks to assert its presence in an area where multiple nations have competing territorial claims. China claims virtually the entire South China Sea as its own waters, which has led to disputes not only with the Philippines but also with Vietnam, Malaysia, Taiwan and Brunei. The move, which Marcos said would boost the Philippines’ coastal defense, dovetails with the Biden administration’s efforts to strengthen an arc of military alliances in the Indo-Pacific to better counter China.

Persons: Ferdinand Marcos Jr, Marcos, ”, ” Marcos, Rodrigo Duterte, Biden Organizations: Philippine Air Force, U.S, South China Locations: BANGKOK, United States, Philippines, South China, Batanes, Taiwan, China, Philippine, South, Vietnam, Malaysia, Brunei, Honolulu, Russia, Tokyo

☆ Explainer: OPEC+ oil policies: what cuts are already in place and what could change
▼ + stars: | 2023-11-21 | by ( Alex Lawler | ) www.reuters.com time to read: +3 min

This figure includes a 1 million bpd voluntary reduction by Saudi Arabia and a 300,000 bpd cut in Russian oil exports, both of which last until the end of 2023. OPEC+ at its last meeting in June extended oil output cuts of 3.66 million bpd, amounting to 3.6% of global demand, until the end of 2024. That figure comprises a 2 million bpd cut agreed in 2022, and a further 1.66 million bpd in voluntary cuts from nine OPEC+ countries agreed earlier this year. OPEC+ could further revise 2024 targets for Nigeria, Angola and Congo after reviews by outside analysts, it said in June. *** Russia's 500,000 bpd voluntary cut is from March 2023 to December 2024 to around 9.5 million bpd, according to Deputy Prime Minister Alexander Novak.

Persons: Alexander Manzyuk, Alexander Novak, Alex Lawler, Dmitry Zhdannikov, Jason Neely Organizations: REUTERS, OPEC, International Energy Agency, United Arab Emirates, Reuters, Saudi, Thomson Locations: Republic of Tatarstan, Russia, Saudi Arabia, Vienna, OPEC, Nigeria, Angola, Congo, Bahrain, Brunei, Malaysia, Sudan, South Sudan

Ferdinand Marcos Jr. President of the Philippines speaks at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S., November 15, 2023. This week's three-day joint air and maritime exercise was a "significant initiative" to boost interoperability between the two, Philippine President Ferdinand Marcos Jr. said. It will end in the West Philippine Sea, the name Manila uses for waters in the South China Sea that fall within its exclusive economic zone (EEZ). The joint patrol with the United States showed the Manila was making a stand over the South China Sea, said Jay Batongbacal, director of the Institute for Maritime Affairs and Law of the Sea in Manila, the capital. "It shows that the Philippines is really firming up its posture on West Philippine Sea issues," Batongbacal said.

Persons: Ferdinand Marcos Jr, Carlos Barria, Eugene Cabusao, Marcos, Rodrigo Duterte, Xi Jinping, Jay Batongbacal, Batongbacal, Mikhail Flores, Karen Lema, Martin Petty, Clarence Fernandez Organizations: Economic Cooperation, REUTERS, United States, South China, Washington, Institute for Maritime Affairs, Law, Philippine, Thomson Locations: Philippines, Asia, San Francisco , California, U.S, Philippine, Taiwan US, Manila, China, MANILA, Taiwan, Mavulis, Luzon, West Philippine, South, United, Hawaii, United States, China's, Brunei, Indonesia, Malaysia, Vietnam, Beijing, South China

☆ Philippines woos neighbours to craft code on South China Sea
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: +3 min

Chinese Coast Guard vessel (L) blocks the ML Kalayaan chartered supply boat (R) during a mission to deliver provisions at Second Thomas Shoal in the South China Sea on November 10, 2023. Speaking in Hawaii at a livestreamed event, Marcos said escalating tension in the South China Sea required the Philippines to partner with allies and neighbors to maintain peace in the busy waterway, with the situation now "more dire". The embassies of China, Malaysia and Vietnam in Manila did not immediately respond to a request for comment on a possible code. ON-OFF CONFRONTATIONSTalks on components of the code have yet to start, with concerns about how far China, which claims ownership of most of the South China Sea, is committed to a binding set of rules that ASEAN nations want to align with existing international law. China has turned submerged reefs into military installations equipped with radar, runways and missile systems, some inside the Philippines' EEZ.

Persons: Shoal, Ferdinand Marcos Jr, Marcos, Xi Jinping Organizations: Guard, ROSA, Getty, South China, ASEAN, Economic Cooperation, PLA, People's Liberation Army Navy Locations: South, AFP, Philippines, Malaysia, Vietnam, China, United States, Hawaii, ASEAN, Manila, Asia, San Francisco, South China, Brunei, Indonesia, Beijing, Philippine

Marcos is then due to deliver a talk about his nation's security challenges and the role of the Philippines-U.S. alliance. Political Cartoons View All 1256 ImagesBut the trip also likely has personal resonance for the leader of the Philippines. Many Filipino immigrants in Hawaii also hail from same part of the Philippines as Marcos and revere him and his family. Marcos' father placed the Philippines under martial rule in 1972, a year before his term was to expire. Imasa, 40, who is part of Hawaii Filipinos for Truth, Justice and Democracy and grew up in the Ilocos province of Pangasinan, said the mindset of many Filipinos in Hawaii is fixed, especially those of older generations.

Persons: Ferdinand Marcos Jr, Marcos, John Aquilino, Marcos ’, Rodrigo Duterte, China’s, Ferdinand Marcos, Winfred Damo, Marcos Jr, ”, “, Arcy Imasa, “ They’re, They’re, Duterte, Limaye Organizations: —, U.S, Economic Cooperation, Protesters, Truth, Democracy, Limaye, - West Center, U.S . Locations: HONOLULU, — Philippines, Hawaii, Asia, San Francisco, Philippines, U.S, China, Russia, The Philippines, America, Taiwan, South China, Honolulu, Marcos ’, Ilocos Norte, Ilocos, Pangasinan, Vietnam, Malaysia, Brunei, Pacific, Washington, Philippine

☆ Factbox-APEC's 'San Francisco Principles' on Sustainability, Inclusiveness
▼ + stars: | 2023-11-18 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

SAN FRANCISCO (Reuters) - The Asia Pacific Economic Cooperation members on Friday adopted new trade and investment principles that seek to boost environmental sustainability and social well-being after China dropped its objections to the U.S. proposal. The so-called "San Francisco Principles on Integrating Inclusivity and Sustainability into Trade and Investment Policy" are aimed at considering "economic, social and environmental dimensions in a balanced way" in APEC members' policies. -- Strengthening data collection and research on trade and investment policies to monitor economic, environmental and social impacts. But the final language in the San Francisco Principles accounts for differences among the 21 diverse APEC economies that include China, the U.S. and Brunei. "Measures should consider economic, social and environmental dimensions in a balanced way, in line with economies' circumstances, and should not exacerbate inequalities."

Persons: David Lawder, Chizu Nomiyama Organizations: FRANCISCO, Reuters, Asia, Economic Cooperation, Trade, Investment, APEC, San Francisco Locations: China, U.S, Francisco, San Francisco, Brunei

☆ APEC's 'San Francisco Principles' on sustainability, inclusiveness
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +2 min

The so-called "San Francisco Principles on Integrating Inclusivity and Sustainability into Trade and Investment Policy" are aimed at considering "economic, social and environmental dimensions in a balanced way" in APEC members' policies. -- Strengthening data collection and research on trade and investment policies to monitor economic, environmental and social impacts. But the final language in the San Francisco Principles accounts for differences among the 21 diverse APEC economies that include China, the U.S. and Brunei. "Measures should consider economic, social and environmental dimensions in a balanced way, in line with economies' circumstances, and should not exacerbate inequalities." Reporting by David Lawder; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Yoon Suk, Fumio Kishida, Joko Widodo, Lee Hsien Loong, Vo Van, Bongbong Marcos, David Lawder, Chizu Organizations: South, Japan's, FRANCISCO, Asia, Economic Cooperation, Trade, Investment, APEC, San Francisco, Thomson Locations: Singapore, Vietnam, Vo Van Thuong, Philippines, China, U.S, Francisco, San Francisco, Brunei

☆ Philippines' Marcos, China's Xi to discuss tensions, way forward in South China Sea
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Ferdinand Marcos Jr. President of the Philippines attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S., November 15, 2023. Manila refers to the part of the South China Sea that it claims as the West Philippine Sea. Marcos said he also discussed South China Sea issues with U.S. Vice President Kamala Harris. China claims sovereignty over nearly the entire South China Sea, pointing to a line on its maps that cuts into the exclusive economic zones of Vietnam, the Philippines, Malaysia, Brunei and Indonesia. The Philippines' foreign ministry on Thursday committed to continue resupply missions and an "upkeep" of a grounded navy ship in a disputed South China Sea atoll, saying it does not have to give prior notice to China.

Persons: Ferdinand Marcos Jr, Carlos Barria, Xi Jinping, Marcos, Xi, Kamala Harris, Neil Jerome Morales, Shri Navaratnam, Michael Perry Organizations: Economic Cooperation, REUTERS, Rights, APEC, South China, West, U.S, The, of Foreign Affairs, Thomson Locations: Philippines, Asia, San Francisco , California, U.S, Rights MANILA, San Francisco, South China, West Philippine, Manila, South, China, China's, Vietnam, Malaysia, Brunei, Indonesia, Taiwan, Beijing

☆ Vietnam ramps up South China Sea island expansion, researchers say
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

A Vietnamese naval soldier stands quard at Thuyen Chai island in the Spratly archipelago in the South China Sea on January 17, 2013. China, Vietnam, the Philippines, Malaysia, Brunei and Taiwan all claim territory in the sea, which covers important shipping routes and is thought to hold untapped oil and gas reserves. China claims sovereignty over vast swathes of the South China Sea, including the areas where Vietnam has been building up islands. China, Brunei, Malaysia, the Philippines, Taiwan and Vietnam have lodged competing claims for some or all of the Spratly Islands. In August, the Philippines, Malaysia, Taiwan and Vietnam rejected a map released by China that denotes its claims to sovereignty including in the South China Sea.

Persons: Thuyen, Khanh Vu, Robert Birsel Organizations: Washington's Center, Strategic, International Studies, Vietnam's Ministry of Foreign Affairs, CSIS's, Transparency, Thomson Locations: Thuyen Chai, Spratly, South, China, Vietnam, Philippines, Malaysia, Brunei, Taiwan, HANOI, South China, U.S, Spratly Islands, CSIS's Asia

☆ Trans-Pacific trade deal members meet at APEC summit, say open to new members
▼ + stars: | 2023-11-16 | by ( David Lawder | ) www.reuters.com time to read: +2 min

A sign advertising the upcoming APEC (Asia-Pacific Economic Cooperation) Summit in see as the city prepares to host leaders from the Asia-Pacific region in San Francisco, California November 8, 2023. The lack of an IPEF trade deal is a setback for the Biden administration. The CPTPP is the successor to the Trans-Pacific Partnership free trade deal, from which former President Donald Trump withdrew as soon as he took office in 2017. The CPTPP meeting on the sidelines of the APEC leaders' summit was the first ministerial to include new member Britain, which signed up to the trade bloc in July. The current CPTPP members are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom, and Vietnam.

Persons: Carlos Barria, Biden, Donald Trump, CPTPP, David Lawder, Lincoln Organizations: APEC, Economic Cooperation, REUTERS, FRANCISCO, Trans, Pacific, U.S, Economic, Pacific Partnership, Britain, Thomson Locations: Asia, Pacific, San Francisco , California, States, San Francisco, Taiwan, Costa Rica, Ecuador, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United Kingdom, Vietnam

☆ Philippines rejects China's call for prior notice on resupply missions
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

"We are being asked to give prior notification each time we conduct a resupply mission to Ayungin Shoal. China claims sovereignty over nearly the entire South China Sea, pointing to a line on its maps that cuts into the EEZs of Vietnam, the Philippines, Malaysia, Brunei and Indonesia. The Permanent Court of Arbitration in 2016 said the line on China's maps had no legal basis, which Beijing rejects. "The Philippines has not entered into any agreement abandoning its sovereign rights and jurisdiction over its EEZ and continental shelf, including in the vicinity of Ayungin Shoal," Daza said. The Second Thomas Shoal lies 190 km (118 miles) off the Philippine island of Palawan, or well within the Manila's EEZ.

Persons: Thomas, Teresita Daza, Lloyd Austin, harassments, Daza, Thomas Shoal, Mikhail Flores, Neil Jerome Morales, Raju Gopalakrishnan Organizations: BRP, BRP Sierra Madre, Rights, of Foreign Affairs, US, Manila, Thomson Locations: BRP Sierra, South China, Rights MANILA, Philippines, China, Manila, Vietnam, Malaysia, Brunei, Indonesia, Taiwan, Beijing, Jakarta, Sierra, Ayungin, Philippine, Palawan

WASHINGTON (AP) — President Joe Biden is nurturing economic ties this week with Asia, but he's not signing any trade deals at a regional summit in San Francisco. This fact — no trade deals — reveals a lot about the status of U.S. politics, the evolving global economy and the Biden administration's own ambitions. The trade pillar is being overseen by U.S. Trade Representative Katherine Tai, while the other three are under Commerce Secretary Gina Raimondo. WHY TRADE DEALS ARE UNPOPULARIt's simple: Voters say past trade deals caused the loss of factory jobs that hollowed out their hometowns and the Biden administration agrees. In a June speech, Tai criticized past trade deals.

Persons: Joe Biden, he's, —, Biden, “, ”, Robert Holleyman, ” Biden, Katherine Tai, Gina Raimondo, Matthew Goodman, Sen, Sherrod Brown, Brown, ” Brown, Republican Donald Trump, Democrat Hillary Clinton, Trump, Tai Organizations: WASHINGTON, U.S, Economic Cooperation, Biden, U.S . Trade, ., Greenberg Center, Geoeconomic Studies, Council, Foreign Relations, White, Republican, Democrat, Pacific, China . Trade, Trump, ” Trade, South Locations: Asia, San Francisco, IPEF, U.S, Tokyo, Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam, Ohio, Canada, Mexico, China

SAN FRANCISCO (AP) — Chinese President Xi Jinping, fresh off his meeting with President Joe Biden, courted Indo-Pacific leaders in a flurry of meetings Thursday at a time of intensifying competition with the United States. Xi held individual talks with the leaders of Mexico, Peru, Fiji, Japan and Brunei, all on the sidelines of a summit of Asia-Pacific Economic Cooperation economies. In a meeting with Peruvian President Dina Boluarte, Xi said the two countries should strengthen economic and trade cooperation and pledged China’s support for Peru as host of next year’s summit of APEC leaders. Earlier, Xi held talks with Andrés Manuel López Obrador, praising the Mexican president for his leadership and reform efforts and pledging to bring the China-Mexico relationship to a new level. Xi called Hassanal Bolkiah, Brunei’s sultan, an “old friend” and said China would work with Brunei to bring benefits to both people.

Persons: Xi Jinping, Joe Biden, Xi, Dina Boluarte, Andrés Manuel López Obrador, López Obrador, —, Hurricane Otis, “, ” Xi, Sitiveni Rabuka, ”, Fumio Kishida, Kishida, Biden Organizations: FRANCISCO, Economic Cooperation, APEC, U.S, Fiji's, Japanese Locations: United States, Mexico, Peru, Fiji, Japan, Brunei, Asia, China, American, Latin America, Beijing, Brunei’s

"We will continue working to better facilitate high-standard trade that advances workers' rights through strong enforcement of labor standards." Biden was also to take part on Thursday in an event for the Indo-Pacific Economic Framework (IPEF), a 14-nation group his administration established. Hopes for an IPEF trade deal were dashed this week. Asked how long an IPEF trade agreement could take to conclude, an administration official said most negotiations take years but the White House intended to work on an "accelerated timeline." "A stable relationship between the world's two largest economies is not merely good for those two economies but for the world," Biden said to applause.

Persons: Joe Biden, Biden, White, Donald Trump, Republican Trump, Fumio Kishida, Xi Jinping, Justin Trudeau, Anthony Albanese, Dina Boluarte, Srettha Thavisin, Hassanal, Gina Raimondo, Xi, Trevor Hunnicutt, David Brunnstrom, Nandita Bose, Katharine Jackson, Andrea Shalal, Heather Timmons, Josie Kao, Cynthia Osterman Organizations: FRANCISCO, Asia, Economic Cooperation, Economic, Democrat, Republican, APEC, IMF, Amazon.com, Delta Air Lines, PepsiCo, Apple, Boeing, Japan's, Canada's, Australia's, Brunei's, Monetary Fund, . Commerce, Trans, Pacific, Trump, U.S, Thomson Locations: Pacific, San Francisco, Asia, ASIA, U.S, Thailand, China, United States

☆ Race to finish Indo-Pacific trade deals hit snags ahead of APEC summit
▼ + stars: | 2023-11-09 | by ( David Lawder | ) www.reuters.com time to read: +5 min

A sign advertising the upcoming APEC (Asia-Pacific Economic Cooperation) Summit in see as the city prepares to host leaders from the Asia-Pacific region in San Francisco, California November 8, 2023. Instead it promised cooperation on supply chains and clean energy along with higher standards for labor, environment and regulatory practices and digital trade. Negotiations on digital trade standards -- once seen as a marquee feature of the IPEF trade pillar -- are largely frozen as the Biden administration has suspended discussions on key rules after reversing longstanding U.S. positions on e-commerce. By adopting these fringe views on digital trade, USTR really brings the main substance on digital trade to a halt," said John Murphy, senior vice president for international policy for the U.S. Chamber of Commerce. One of the sources familiar with the talks said that early enthusiasm on the IPEF trade pillar -- which excludes India -- has given way to frustration over the difficulty and complexity of issues involved.

Persons: Carlos Barria, Biden, Joe Biden, IPEF, Wendy Cutler, Cutler, Trump, USTR, John Murphy, David Lawder, Sharon Singleton Organizations: APEC, Economic Cooperation, REUTERS, FRANCISCO, Pacific, Prosperity, Asia Pacific Economic Cooperation, Asia Society Policy Center, Commerce Department, U.S . Trade, Big Tech, U.S . Chamber of Commerce, Thomson Locations: Asia, Pacific, San Francisco , California, San Francisco, U.S, China, Washington, IPEF, Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam, United States, TPP

☆ China pledges to expand market access at annual trade fair amid foreign criticism
▼ + stars: | 2023-11-05 | by ( Brenda Goh | ) www.reuters.com time to read: +3 min

SHANGHAI, China (Reuters) -China will further expand market access and increase imports, its premier told a trade fair in Shanghai on Sunday, amid criticism from European firms who said they wanted to see more tangible improvement in the country’s business environment. China will promote coordinated development of trade in goods and services, protect an international business environment, and relax market access including lifting restrictions on foreign investment in manufacturing, he said. The import expo was launched by President Xi Jinping in 2018 to promote China’s free trade credentials and counter criticism of its trade surplus with many countries. China’s imports have slumped this year amid a slowdown in the world’s second largest economy, although data released last month indicated that the downtrend could be starting to ease. China will “actively promote” its application to join the Comprehensive Progressive Trans-Pacific Partnership (CPTPP), Li also said in his speech on Sunday.

Persons: Li Qiang, Tingshu Wang, ” Li, Xi Jinping, Li, Anthony Albanese, “ Organizations: Hangzhou Olympic Sports Centre, China, European Chamber of Commerce, Micron Technology, Nestle, Burberry, Australian, Pacific Locations: SHANGHAI, China, Shanghai, Hangzhou, Afghan, Australia, United States, Taiwan, Ukraine, Costa Rica, Uruguay, Ecuador, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, Britain

☆ Japan PM Kishida: cooperating with Philippines, US to protect South China Sea
▼ + stars: | 2023-11-04 | by ( Karen Lema | ) www.reuters.com time to read: +3 min

"In the South China Sea, trilateral cooperation to protect the freedom of the sea is under way," Kishida, on an official visit, said in an address before the Philippine congress in the capital Manila. Last month China and the Philippines traded accusations over a collision in the disputed waters of the South China Sea as Chinese vessels blocked Philippine boats supplying forces there. China claims sovereignty over almost the entire South China Sea, including parts of the exclusive economic zones of Brunei, Indonesia, Malaysia, the Philippines and Vietnam. Japan does not have any claim to the South China Sea, but has a maritime dispute with China in the East China Sea. "Japan will continue to contribute to the enhancement of the Philippines' security capabilities, thereby contributing to regional peace and stability," Kishida said.

Persons: Fumio, Aaron Favila, Fumio Kishida, Ferdinand Marcos Jr, China's, Kishida, Karen Lema, Sakura Murakami, William Mallard, Michael Perry Organizations: Japan, REUTERS Acquire, Rights, Official Security, Kyodo, Philippine Coast Guard, Thomson Locations: Quezon City, Philippines, Rights MANILA, United States, South China, China, Philippine, Manila, Kishida, Japan, Brunei, Indonesia, Malaysia, Vietnam, East, Tokyo

Search resuls for: "Brunei"

25 mentions found