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Chinese President Xi Jinping and former U.S. President Donald Trump in Beijing, China, in 2017. "So this is not going to be a sustainable driver of growth for China." China's exports to the U.S. rose by a modest 1.5% in the first half of the year. Citi forecasts 5.0% growth in real GDP growth for China this year. UBS forecasts 4.9% growth for China's economy this year.

Persons: Xi Jinping, Donald Trump, Artyom Ivanov, Goldman Sachs, Trump, JD Vance, Hui Shan, CNBC's, Janet Yellen, Vance, Biden, Mike Pence wouldn't, MAGA, Lin Jian, Goldman's Shan, Shan, Tao Wang Organizations: TASS, Getty, BEIJING, U.S, European, Citi, Fox News, Trump, Capitol, China's Ministry of Foreign Affairs, CNBC, UBS Investment Bank, UBS Locations: Beijing, China, U.S, European Union, Asia, Ukraine

☆ The US Navy has its eyes on a new submarine base that will help it keep track of China's growing undersea fleet
▼ + stars: | 2023-05-21 | by ( Christopher Woody | ) www.businessinsider.com time to read: +9 min

As part of the AUKUS agreement, US and British subs will operate out of western Australia by 2027. The deal on the base comes as rivals, mainly China, increase their submarine activity in the region. Ray Mabus, then US navy secretary, departs a Chinese Yuan-class submarine in Ningbo in November 2012. The Defense Department report also says China's six operational Jin-class nuclear-powered ballistic-missile subs are likely already conducting "near-continuous at-sea deterrence patrols," a sign that China's submarine force continues to improve its operational capabilities. For the US Navy, those developments make the ability to base subs closer to the Western Pacific a greater priority.

☆ Taiwan's navy wants to build smaller frigates to reduce the cost of shadowing Chinese warships near the island
▼ + stars: | 2022-11-02 | by ( Lawrence Chung | South China Morning Post | ) www.businessinsider.com time to read: +5 min

Instead of building a 4,500-tonne missile frigate, Taiwan's navy proposes two 2,000-tonne frigates. Taiwan's navy chief of staff says sending major ships to monitor Chinese ships has high costs. "This has significantly increased not only the operational and fuel costs of our ships but also the manpower," Chiang said. He said building the lighter frigates for the shadowing missions would be more cost effective. Beijing considers Taiwan part of its territory that must be brought back under its control, by force if necessary.

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