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☆ Taiwan blasts Elon Musk over latest China comments
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

"Their (Beijing's) policy has been to reunite Taiwan with China. Taiwan Foreign Minister Joseph Wu, in a post on X late Wednesday, responded that he hoped Musk could ask China to "open @X to its people". China blocks X, along with other major Western social media like Facebook. This is not the first time Musk, whose Tesla had a large factory in Shanghai, has riled Taiwan. Last October, he suggested that tensions between China and Taiwan could be resolved by handing over some control of Taiwan to Beijing, drawing a similarly strong reprimand from Taiwan.

Persons: Elon Musk, waded, Joseph Wu, Ukraine's, Wu, Taiwan's, Tesla, Ben Blanchard, Stephen Coates Organizations: YouTube, U.S . Pacific Fleet, Taiwan, Facebook, Russia, Thomson Locations: TAIPEI, Taiwan, China, Beijing, Taipei, Los Angeles, Hawaii, Sevastopol, People's Republic of China, Shanghai

☆ Italy's possible withdrawal from China's Belt and Road program could pave the way for future exits
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Workers produce large building materials and equipment for export to countries along the Belt and Road. Hai 'an city, Jiangsu Province, China, June 15, 2020. Italy's reported withdrawal plan may set a precedence for a constructive exit from China's global trade and infrastructure initiative, setting the stage for future exits. Italy remains the only Group of 7 industrialized countries that is a signatory of Beijing's signature Belt and Road Initiative, a centerpiece of President Xi Jinping's foreign policy program that was launched a decade ago. At a time of shifting geopolitical alignments that's fragmenting the world's economy, Rome is coming under pressure to recast its relationship with Beijing to placate its western allies as Italy assumes the rotating presidency of the Group of 7 developed economies in 2024.

Persons: Italy's, Xi, Giulio Pugliese, CNBC's Organizations: Initiative, Oxford University's School of Global, Area Studies Locations: Jiangsu Province, China, Italy, Rome, Beijing, Washington

☆ Elon Musk was rebuked by Taiwan after appearing to defend the one-China policy: 'Listen up, Taiwan is not for sale'
▼ + stars: | 2023-09-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk compared Taiwan to Hawaii, suggesting it was "an integral part of China." The Tesla CEO met with China's foreign minister during a trip to the country in May. During a virtual appearance at the All-In Summit while onboard his private jet, Musk explained how Beijing's "policy has been to reunite Taiwan with China." AdvertisementAdvertisementElon Musk met with Chinese Foreign Minister Qin Gang in May. "If one is to take China's policy recently, and probably one should, then force will be used to incorporate Taiwan into China," he added.

Persons: Elon Musk, Elon, Musk, Joseph Wu, Hope @elonmusk Organizations: Service, US Pacific Fleet, CCP, 外交部 Ministry of Foreign Affairs, ROC Locations: Taiwan, Hawaii, China, Wall, Silicon, Russia

☆ Factbox-New Zealand Voters' Top Issues in October General Election
▼ + stars: | 2023-09-14 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +5 min

Chris Hipkins, who took the prime minister's post in January after Jacinda Ardern stepped down, has nudged his Labour Party towards the centre, focusing on what he terms "bread and butter issues". The opposition National Party has blamed Labour for rising costs and is promising, if elected, to cut taxes and bring inflation under control. Given New Zealand's ever-increasing building costs, poor housing stock and overcrowding, however, supply continues to fall short of demand. The National Party has proposed unlocking more land for housing, providing incentives for councils to build more houses and creating new infrastructure financing tools. The National Party says it will encourage trade and investment, increase the skilled labour force and cut red tape.

Persons: Chris Hipkins, Jacinda Ardern, Hipkins, Lucy Craymer, Edmund Klamann Organizations: Reuters, New Zealanders, Labour, National, Labour Party, National Party, Zealand's Labour Locations: New, New Zealand, China, Pacific, Solomon, South Pacific, Britain

☆ What is shadow banking? Unpacking the risks for China
▼ + stars: | 2023-09-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

China Photos | Getty Images News | Getty ImagesBEIJING — China's real estate problems have again drawn attention to the world of shadow banking and the risks it poses to the economy. Shadow banking — a term coined in the U.S. in 2007 — refers to financial services offered outside the formal banking system, which is highly regulated. Estimates of the size of shadow banking in China vary widely, but range in the trillions of U.S. dollars. Shadow banking and real estateChina's property sector, an estimated one-fourth of the economy, lies at the intersection of shadow banking, local government finances and household assets. "These trust companies were basically part of the shadow banking system in China."

Persons: —, Logan Wright, Wright, Shimao, PwC, Edward Chan, Nomura Organizations: Getty, BEIJING, Developers, Logan Wright Center for Strategic, Center for Strategic, Studies, PricewaterhouseCoopers, CNBC, CSIS Locations: Shanghai, China, U.S

☆ EU to investigate 'flood' of Chinese electric cars, weighing tariffs
▼ + stars: | 2023-09-13 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

"Global markets are now flooded with cheaper electric cars. It is also unusual in that it is brought by the European Commission itself, rather than in response to an industry complaint. GRINDING GEARSThe influx of cheaper Chinese electric vehicles has already prompted some European carmakers to take action. At the same time Von der Leyen stressed the importance of electric vehicles to the EU's ambitious environmental objectives. The founder of Nio warned in April that Chinese EV makers should brace for the possibility that foreign governments would impose protectionist policies.

Persons: Ursula von der Leyen, BYD, EVs, Nio, Mercedes Benz, Stellantis, France's, Tesla, VDA, Von der Leyen, Simone Tagliapietra, Kingsmill Bond, Foo Yun Chee, Philip Blenkinsop, Kim Miyoung, Brenda Goh, Anne Marie Roantree, Nick Carey, Kate Abnett, Gabriela Baczynska, Louise Heavens Organizations: EU, Investigation, European EV, European Commission, European Union, Renault, BMW, HK, China Passenger Car Association, Dynamics, Volvo, EV, VW, France's Renault, Japan, Rocky Mountain Institute, Thomson Locations: BRUSSELS, Brussels, China, Moscow, Ukraine, Germany, France, Europe, U.S

☆ China’s growth is buried under great wall of debt
▼ + stars: | 2023-09-13 | by ( Yawen Chen | ) www.reuters.com time to read: +8 min

Most of these 3,000-plus entities were created by local governments during the 2008 crisis to skirt a central government ban on direct state borrowing. These vehicles had already accumulated 80 trillion yuan of liabilities at the end of 2022, according to analysts at Guosheng Securities. At a more optimistic 30% discount, the proceeds would jump to 55 trillion yuan, which would cover all outstanding interest-bearing debt. S&P analysts calculate that about 20 trillion yuan of LGFVs’ loans may be at risk of restructuring. If Xi won't boost property wholeheartedly and is not able to count on consumers, his efforts to revive China’s growth have to focus on smashing the great wall of local debt.

Persons: Wen Jiabao, Xi Jinping, Wen, Xi, Peter Thal Larsen, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, HK, Guosheng Securities, Citi, Finance, Reuters Graphics, Financial Times, Investment, Oxford Economics, Thomson Locations: Beijing, China, Shanghai, New York, China's Southwestern Guizhou, United States

☆ China agrees to rare visit by Vatican envoy for Ukraine talks
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Maxim Shemetov/File Photo Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - The Chinese foreign ministry said on Wednesday that Vatican envoy Cardinal Matteo Zuppi will visit China for talks on resolving the conflict in Ukraine, despite the lack of formal bilateral relations between Beijing and the Holy See. Li Hui, China's Special Envoy for Eurasian Affairs, will meet with Zuppi, foreign ministry spokesperson Mao Ning told a regular news conference. "On the issue of Ukraine, China has always been committed to promoting peace talks," said Mao. Zuppi will be in China from Wednesday to Friday as part of a diplomatic push to facilitate peace in Ukraine, the Vatican said on Tuesday. The Chinese foreign ministry did not give details on Zuppi's schedule or say whether he would meet China's top officials.

Persons: Cardinal Matteo Zuppi, Pope Francis, Maxim, Li Hui, Mao Ning, Mao, Li Qiang, Archbishop Paul Gallagher, Wang Yi, Ryan Woo, Ethan Wang, Christian Schmollinger, Mark Heinrich Our Organizations: Italian Episcopal Conference, REUTERS, Rights, Eurasian Affairs, Kyiv, Vatican, Repubblica, Foreign, Thomson Locations: Moscow, Russia, Rights BEIJING, China, Ukraine, Beijing, Russian, Italian, Washington, Taiwan, Europe, Taipei, Munich

☆ China denies any iPhone ban for government staffers. Here's our take on why Apple stock isn't popping
▼ + stars: | 2023-09-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

AAPL YTD mountain Apple (AAPL) year-to-date performance Many analysts on Wall Street echoed our sentiments, with Credit Suisse calling the recent market reaction "overblown." Jim forecasted Wednesday that Apple stock will likely go higher over the next three months, as consumers begin to trade in their older Apple devices for the company's new offerings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Customers line up to enter an Apple store as iPhone 14 series go on sale on September 16, 2022 in Shanghai, China.

Persons: Jim Cramer, Jim, Jim Cramer's Organizations: Wednesday, Apple, Club, China's Ministry of Foreign Affairs, Street, Credit Suisse, Huawei, CNBC, Visual China, Getty Locations: China, Shanghai

☆ Country Garden gets maturity extension approval for one more onshore bond - sources
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Shares in Country Garden, China's largest private property developer, jumped as much as 14% in Hong Kong on Wednesday. A Country Garden spokesperson did not immediately respond to Reuters' request for comment on the maturity extension of the bond. Before the latest voting to extend the maturities of eight onshore bonds, Country Garden managed to avoid default at the last minute twice earlier this month, bringing some relief to the battered property sector. Of those eight Country Garden bonds, maturity extensions for six have been approved, Reuters reported on Tuesday, citing sources.

Persons: Aly, Ting Meng, Shuyan Wang, Jing Bian, Xie Yu, Sumeet Chatterjee, Tom Hogue Organizations: Shanghai Country Garden, REUTERS, Rights, Reuters, Garden, Country Garden, ANZ, Thomson Locations: Shanghai, China, Rights BEIJING, HONG KONG, HK, Hong Kong, Beijing

A general view of a crude oil importing port in Qingdao, Shandong province, November 9, 2008. Many of the newer, complex refineries in Asia prefer medium sour crude as it offers a higher yield of middle distillates such as diesel and jet fuel. ALTERED FLOWSThe higher prices for medium crude grades is impacting the ways in which crude is flowing around the world. China's imports from Brazil are expected to reach 29.07 million barrels in September, which would be the highest in three years, according to Kpler. While Saudi Arabia may have been successful in boosting oil prices, it is also disrupting the markets and altering physical crude flows.

Persons: Brent, China doesn't, Simon Cameron, Moore Organizations: United Arab Emirates, Moscow, Kpler, Reuters, Thomson Locations: Qingdao, Shandong province, LAUNCESTON, Australia, Asia, Saudi Arabia, OPEC, Russia, East, Kuwait, Brent, Dubai, Ukraine, India, Iraq, China, Iran, Islamic Republic, United States, Brazil

☆ Fears about China's government ban on iPhones are 'way overdone,' as the crackdown could impact only 1% of the smartphone's sales in China: analyst
▼ + stars: | 2023-09-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

But Wedbush's Dan Ives says the fears are ' way overdone' as the ban could only impact 1% of iPhone sales in China. overdone' as the ban could only impact 1% of iPhone sales in China. There's also another reason why Beijing is unlikely to widen an iPhone ban in the country. China's ban on foreign phone brands in government agencies echoes similar restrictions in the US — such as a New York City ban on TikTok on government-owned devices. They've lost 6% since Wednesday after the news of China's iPhone ban broke.

Persons: Wedbush's Dan Ives, Dan Ives, Amit Daryanani, There's, Daryanani, They've, Evercore Organizations: Apple, Service, Investors, Wall Street Journal, Evercore ISI Locations: Beijing, China, Wall, Silicon, Washington, New York City

☆ Biden says China is unlikely to invade Taiwan now because Beijing just too busy with its own economic crisis
▼ + stars: | 2023-09-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

US President Joe Biden said China's economic problems could keep Beijing from invading Taiwan. Biden said Chinese President Xi Jinping has his "hands full" with China's economic issues. Beijing claims self-ruled Taiwan as its territory and has been stepping up military drills around the island. China's "difficult economic problem" currently is unlikely to cause the country to invade Taiwan, Biden said at a press conference during his state visit to Hanoi in Vietnam, according to a recording on the White House's YouTube channel. "One of the major economic tenets of his plan isn't working at all right now," Biden added, without specifying what he was referring to.

Persons: Joe Biden, Biden, Xi Jinping, Xi, I'm, it's, Li Qiang Organizations: Service, YouTube, Huawei, Washington DC, Cultural Locations: Beijing, Taiwan, Wall, Silicon, Hanoi, Vietnam, China, New Delhi, New York City, Washington, Taipei

☆ These 10 China-focused ETFs are up this year — and one is expected to rise by another 40%
▼ + stars: | 2023-09-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Chinese stock markets have failed to perform in 2023. All three major indexes have lost money for investors over the past week, month, three months, six months, and year. As a result, shorting the Chinese currency has been one of the most profitable investments this year, according to analysis by CNBC Pro of FactSet's ETF performance data. CNBC Pro screened for global China-focused ETFs that have posted positive returns this year to date. A weighted average analysts' price target for companies in the ETF points toward a further 22.4% upside over the next 12 months, according to FactSet data.

Persons: Thierry Wizman, Goldman Sachs, Brent Organizations: Shenzhen Component, Shanghai, Index, U.S, CNBC Pro, Singapore ., London Stock Exchange, U.S ., Macquarie, People's Bank of, China Energy, New York Stock Exchange, bbl, Goldman, Dragon, China Communication Services Locations: Shenzhen, China, New York, London, Amsterdam, Frankfurt, Singapore, People's Bank of China, Macquarie, Dragon China, U.S

☆ Taiwan says Chinese carrier group in Western Pacific for training
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

A helicopter takes off from China's Shandong aircraft carrier, over Pacific Ocean waters, south of Okinawa prefecture, Japan, in this handout photo taken April 15, 2023 and released by the Joint Staff Office of the Defense Ministry of Japan April 17, 2023. Joint Staff Office of the Defense Ministry of Japan/HANDOUT via REUTERS/File Photo Acquire Licensing RightsTAIPEI, Sept 11 (Reuters) - A Chinese naval formation led by the aircraft carrier Shandong passed 60 nautical miles (111km) to Taiwan's southeast on Monday and entered the western Pacific for training, the island's defence ministry said. The ministry said that beginning at 5:40 a.m., it also spotted 11 Chinese military aircraft, including J-16 fighters, in Taiwan's air defence identification zone and that its forces had made an "appropriate response". The Shandong, commissioned in 2019, participated in Chinese military drills around Taiwan in April, operating in the western Pacific. Reporting by Ben Blanchard; Editing by Muralikumar Anantharaman and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Ben Blanchard, Muralikumar Anantharaman, Gerry Doyle Organizations: Shandong, Joint Staff Office, Defense Ministry, Staff Office, Defense Ministry of Japan, REUTERS, Rights, Thomson Locations: Okinawa prefecture, Japan, Rights TAIPEI, Shandong, Pacific, Taiwan, Taiwan Strait, U.S, Canadian, India, China, United States

☆ China is likely headed for a full-blown financial crisis as its economy is due for wilder swings, market expert says
▼ + stars: | 2023-09-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China's economy is likely headed for a financial crash, market veteran Ruchir Sharma warned. "In this scenario, the next big step for China is a full-blown financial crisis." But under another scenario, China's property market may end up mirroring US real estate in the summer 2008, when a downturn was underway but Wall Street didn't see a collapse. AdvertisementAdvertisement"In this scenario, the next big step for China is a full-blown financial crisis," Sharma wrote. Amid a growing list of headwinds sweeping through China's economy, its property market is a leading negative.

Persons: Ruchir Sharma, Sharma, China's Organizations: Financial Times, Service, Rockefeller International Locations: China, Wall, Silicon, Japan, Tokyo, Beijing

"I used to love buying branded clothes," said teacher Zhang as she sifted through a pile of garments priced between 15 and 50 yuan ($2-$7). With wages and pensions hardly budging and the job market highly uncertain as more than one in five young Chinese remain unemployed, households' confidence and spending power are low in the barely growing economy. The real estate sector, one of the pillars of the economy, is struggling with massive debt. "One of my customers is a rich woman who used to go to Japan for shopping, but now she comes to my store," said Wang. ($1 = 7.3179 Chinese yuan renminbi)Additional reporting by Winni Zhou in Shanghai; editing by Marius Zaharia and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Amy Zhang, Zhang, Becky Liu, Gucci, Kering, Lu, Yunshan, I've, Wang, Winni Zhou, Marius Zaharia Organizations: Standard Chartered, Thomson Locations: BEIJING, HONG KONG, China, LVMH, Japan, Shanghai

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. According to Goldman Sachs's real-time indexes, financial conditions in China, emerging markets and globally are now the tightest since last November. The economic data spotlight this week will shine on China. Money supply, loan growth, social financing (a broad measure of credit and liquidity in the economy), retail sales, industrial production, unemployment, house prices and fixed asset investment are all due for release by September 15.

Persons: Aly, Jamie McGeever, Goldman Sachs's, Diane Craft Organizations: REUTERS, U.S, Nasdaq, Thomson, Reuters Locations: Shanghai, Shenzhen, China, India, Beijing, Asia, Japan, Philippine, Indonesia, Malaysia

☆ IMF chief says new Biden-backed economic corridor should not exclude any countries
▼ + stars: | 2023-09-10 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

A more fragmented global economy though, has limited global trade growth — which now lags global economic growth. "What is important is to do it for the benefit of everybody, and not for exclusion of others," she said. "In that sense, I would encourage all countries working collaboratively with each other to do so in the spirit of integrated economy." Virtuous cycleIn reality, this Biden-backed economic corridor would add to existing infrastructure investment for the regions involved. "And I call on our members to strengthen the global financial safety net," Georgieva separately said Sunday in a press release, released shortly after the G20 summit formally ended.

Persons: Narendra Modi, Kristalina, Evan Vucci, The, Kristalina Georgieva, Joe Biden's, Georgieva, CNBC's Martin Soong, Biden, Modi Organizations: India's, Monetary Fund, Bharat, Afp, Getty, The Biden, International Monetary Fund's, Indian, European Union and, United Arab Emirates, Biden, CNBC, IMF Locations: New Delhi, India, Israel, Jordan, Saudi Arabia, U.S, Covid, Ukraine, Delhi

☆ Taiwan Says Chinese Carrier Group in Western Pacific for Training
▼ + stars: | 2023-09-10 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

TAIPEI (Reuters) - A Chinese naval formation led by the aircraft carrier Shandong passed 60 nautical miles (111km) to Taiwan's southeast on Monday and entered the western Pacific for training, the island's defence ministry said. The ministry said that beginning at 5:40 a.m., it also spotted 11 Chinese military aircraft, including J-16 fighters, in Taiwan's air defence identification zone and that its forces had made an "appropriate response". The Shandong, commissioned in 2019, participated in Chinese military drills around Taiwan in April, operating in the western Pacific. It also sailed through the Taiwan Strait in June. A U.S. and a Canadian warship sailed through the Taiwan Strait on Saturday, marking the second such joint mission since June and coinciding with the leaders of both countries attending the G20 summit in India.

Persons: Ben Blanchard, Muralikumar Anantharaman, Gerry Doyle Locations: TAIPEI, Shandong, Pacific, Taiwan, Taiwan Strait, U.S, Canadian, India, China, United States

Biden said he met with Chinese President Xi Jinping's No.2, Chinese Premier Li Qiang, at the annual G20 summit in New Delhi. "My team, my staff still meets with President Xi's people and his cabinet," Biden told reporters. Biden called China's economic situation a "crisis," citing issues in the real estate sector and high youth unemployment. "One of the major economic tenets of his plan isn't working at all right now," Biden said of Xi, without elaborating. "I don't think this is going to cause China to invade Taiwan," Biden said of the country's economic troubles.

Persons: Joe Biden, Biden, Xi Jinping's, Li Qiang, Xi, Li, Xi's, I'm, it's, Evelyn Hockstein, Nandita Bose, Trevor Hunnicutt, Doina Chiacu, Lisa Shumaker, Heather Timmons, Cynthia Osterman Organizations: Taiwan, Southern, Sunday, Global Infrastructure, REUTERS, Democratic, Thomson Locations: HANOI, New Delhi, Indonesia, India, U.S, Beijing, Vietnam, China, Taiwan, United States, Hanoi, Washington

☆ US, Vietnam to Elevate Ties During Biden Visit, With Eye on China
▼ + stars: | 2023-09-09 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

The visit comes as trade and investment ties between the two nations are growing and a long-simmering territorial dispute between Vietnam and China heats up in the South China Sea. Vietnam has named four other countries "comprehensive strategic partners," the designation expected for the U.S.: China, Russia, India and South Korea. Biden's visit comes nearly 50 years after the end of the deeply unpopular Vietnam War between the Soviet-backed Communist government of North Vietnam and South Vietnam’s U.S.-backed regime. "For decades, the US and Vietnam have worked to overcome a painful shared legacy of the Vietnam War, working hand in hand to promote reconciliation, with our service members and our veterans lighting the way," he said. Washington has been pushing to elevate ties with Hanoi to a "strategic" partnership from one that for the past decade has been called "comprehensive."

Persons: Nandita Bose, Francesco Guarascio, Joe Biden, Biden, Nguyen Phu Trong, Antony Blinken, Jake Sullivan, Khanh Vu, Heather Timmons, Chizu Organizations: Francesco Guarascio NEW, Sunday, Communist Party General, Party, U.S ., Google, Intel, Marvell, GlobalFoundries, Boeing, U.S, Communist Locations: Francesco Guarascio NEW DELHI, HANOI, United, China, Asia, Vietnam, South China, Russia, India, South Korea, Hanoi, U.S, Soviet, North Vietnam, South Vietnam’s U.S, Pacific, US, Washington, Czech Republic

Persons: Joe Biden, Evelyn Hockstein, Biden, Nguyen Phu Trong, Antony Blinken, Jake Sullivan, Nandita Bose, Khanh Vu, Francesco Guarascio, Heather Timmons, Chizu Organizations: Global Infrastructure, REUTERS, Sunday, Communist Party General, Party, U.S ., Google, Intel, Marvell, Boeing, U.S, Communist, Thomson Locations: New Delhi, India, DELHI, HANOI, United, China, Asia, Vietnam, South China, Russia, South Korea, Hanoi, U.S, Soviet, North Vietnam, South Vietnam’s U.S, Pacific, US, Washington, Czech Republic

☆ In cat and mouse game, Philippines resupplies troops in South China Sea atoll
▼ + stars: | 2023-09-09 | by ( Jay Ereno | ) www.reuters.com time to read: +3 min

[1/3] Journalists onboard a Philippines Coast Guard ship take photos of a China Coast Guard vessel, during a resupply mission for troops stationed at a grounded Philippines ship, in the South China Sea, September 8, 2023. NO ARCHIVES Acquire Licensing RightsSOUTH CHINA SEA, Sept 9 (Reuters) - The Philippines has completed a supply mission for troops stationed in a rusty World War Two-era ship, but not without a usual cat and mouse chase with Chinese vessels in the South China Sea. In another instance, a Philippine ship was surrounded by a Chinese coast guard vessel and three maritime militia vessels. One of the Chinese ships was also seen heading dangerously close to the Philippine vessel which Reuters was onboard, while several Chinese militia vessels tried to block its path. "We always encounter dangerous manoeuvres, shadowing activities, blocking not only from China coast guard vessels, but also from China militia vessels," Philippine Coast Guard commanding officer Emmanuel Dangate told reporters after the mission.

Persons: Jay Ereno, Thomas Shoal, Emmanuel Dangate, Jay Ereño, Neil Jerome Morales, Clelia Organizations: Journalists, Philippines Coast Guard, China Coast Guard, REUTERS, CHINA SEA, Reuters, Chinese Coast Guard, Philippine Coast Guard, BRP, BRP Sierra Madre, U.S . Navy, China, Thomson Locations: Philippines, South China, Philippine, China, BRP Sierra, U.S, China's, Malaysia, Vietnam, Brunei, Taiwan

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. A bigger-than-expected draw in U.S. crude oil inventories lent muted support to oil prices. Crude inventories fell by 6.3 million barrels, triple the 2.1 million-barrel drop that analysts expected. Despite its pledge to maintain supply cuts, Russia is expected to boost its oil exports in September as Russian refineries start seasonal maintenance, Reuters calculations based on sources' data show, which is also curbing price gains. Reporting by Yuka Obayashi and Muyu Xu; Editing by Jamie Freed and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Nick Oxford, Brent, Priyanka Sachdeva, Phillip Nova, Tatsufumi Okoshi, WTI, Yuka Obayashi, Muyu Xu, Jamie Freed, Miral Organizations: Midland , Texas U.S, REUTERS, Rights, U.S, West Texas, Investors, Nomura Securities, Energy, Thomson Locations: Midland , Texas, Rights TOKYO, SINGAPORE, Saudi Arabia, Russia, China

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