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☆ China and India are so far into frenemy zone that they may never join forces to topple the dollar
▼ + stars: | 2023-10-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

The economist who coined the "BRIC" acronym said the currency idea seemed "crazy." The bloc is helmed by the major emerging nations of Brazil, Russia, India, China, and South Africa. It also appears that it's just Russia and Brazil that have really pushed for a BRICS common currency. But even if a BRICS currency comes to pass, its use could be limited. AdvertisementAdvertisementPrakash said a BRICS currency would be used in "very narrow and vertical settings, or for BRICS projects."

Persons: —, Washington, Joseph Sullivan —, There's, Jim O'Neill, Goldman Sachs, O'Neill, Xi Jinping, Narendra Modi, Xi, didn't, Li Qiang, Liu Pengyu, Modi, Liu, there's, Abishur Prakash, it's, China hasn't, Palit, Prakash Organizations: Service, White House, Indian, Monetary Fund, China's, UN, China, Institute of South Asian Studies, National University of Singapore, Affairs Ministry Locations: China, India, Russia, Ukraine, Brazil, South Africa, Europe, Africa, Beijing, New Delhi, Johannesburg, China's Washington, DC, BRICS

Chinese Foreign Minister Wang Yi poses as he meets Turkish Foreign Minister Hakan Fidan (not seen) in Ankara, Turkey, July 26, 2023. Stringer/Pool via REUTERS/File PhotoWASHINGTON, Aug 1 (Reuters) - The United States has formally invited China's newly reappointed foreign minister, Wang Yi, to Washington, the U.S. State Department said on Tuesday, after Wang's predecessor was abruptly removed from his post by Beijing. "In the meeting yesterday, we extended the invitation that had previously been made to foreign minister Qin Gang and made clear that invitation did transfer over," Miller said. The U.S. State Department said then they held "candid, substantive, and constructive" talks, and Blinken invited Qin to Washington to continue discussions. Wang, 69, served as foreign minister from 2013-2022 as ties frayed with the United States to a point Beijing described as an all-time low.

Persons: Wang Yi, Hakan Fidan, Stringer, China's, Wang, Qin Gang, Qin, Pacific Affairs Daniel Kritenbrink, Yang Tao, Matthew Miller, Miller, Antony Blinken, Blinken, Simon Lewis, Humeyra Pamuk, David Brunnstrom, Sandra Maler, Alistair Bell Organizations: Turkish, United, U.S . State Department, State Department, U.S, East, Pacific Affairs, North, Oceania Affairs, China's Foreign Ministry, State, Washington, Thomson Locations: Ankara, Turkey, United States, Washington, Beijing, China, East Asia, North American, U.S, Jakarta, Qin's

☆ China's Washington envoy warns of retaliation against further US tech curbs
▼ + stars: | 2023-07-19 | by ( David Brunnstrom | ) www.reuters.com time to read: +2 min

WASHINGTON, July 19 (Reuters) - China does not want a trade or tech war but will definitely respond if the United States imposes more curbs on its chip sector, China's ambassador to Washington said on Wednesday. Xie referred to reports that Washington is considering an outbound investment review mechanism, and further prohibition on the export of AI chips to China. "China, definitely ... will make our response. We don't want ... a trade war, technological war, we want to say goodbye to the Iron Curtain as well as the Silicon Curtain." She said the order would enacted in a transparent way, through a rule-making process that would allow public input.

Persons: Xie Feng, Xie, There's, Biden, Janet Yellen, David Brunnstrom, Grant McCool Organizations: Aspen Security, China, Labor Day, Micron Technology, Cybersecurity Administration, Micron, Treasury, Thomson Locations: China, United States, Washington, U.S

WASHINGTON, June 28 (Reuters) - The United States expects a greater partnership with India in the South China Sea, where China has been at the center of numerous territorial disputes with regional countries, the top U.S. diplomat for East Asia said on Wednesday. Asked whether India would have a growing role in the South China Sea and greater cooperation with the U.S. there, Kritenbrink said "Yes," adding that there would be greater collaboration among a group of regional powers - the U.S., India, Japan and Australia - known as the Quad. "Large countries should not bully smaller ones," he added, referring to China's disputes with other South China Sea claimants. "If the U.S. really cares about the stability of the South China Sea and wants to avoid accidents, I think it needs to stop the reconnaissance operations against China," Liu Pengyu told a news briefing. Though not a South China Sea claimant, India has in recent years stepped up security ties in the region, signaling its intent to play a bigger role in efforts to counter China.

Persons: Narendra Modi, Daniel Kritenbrink, Kritenbrink, Liu Pengyu, Michael Martina, David Brunnstrom, Kanishka Singh, Alistair Bell Organizations: United, East Asia, Indian, Washington's Center, Strategic, International Studies, U.S, Washington, China, Thomson Locations: India, South China, China, East, United States, Washington, The U.S, South, U.S, Japan, Australia, Vietnam

☆ US lawmakers warn North Korean refugees face forcible repatriation from China
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 13 (Reuters) - U.S. lawmakers warned on Tuesday that China could be preparing to forcibly repatriate refugees who fled North Korea and urged the United Nations to use its influence with Beijing to prevent this. He referred to reports that approximately 2,000 and "perhaps many more" North Korean refugees faced repatriation "which would subject them to severe human rights violations upon their return." The CECC co-chair, Democratic Senator Jeff Merkley, said a 2014 report by the U.N. commission on inquiry on human rights in North Korea had stated clearly that forcible repatriation of North Koreans "subjects them to crimes against humanity." "Just being a North Korean in China means an individual would be in grave peril if sent back to North Korea," he said. China's Washington embassy, UNHCR, and North Korea's U.N. mission did not immediately respond to requests for comment.

Persons: Chris Smith, Smith, Antonio Guterres, General Guterres, Filippo Grandi, Elizabeth Salmon, Jeff Merkley, Merkley, U.N, Stephane Dujarric, Guterres, David Brunnstrom, Michelle Nichols, Don Durfee, Grant McCool Organizations: United, Congressional, Commission, U.N, United Nations, South Korea's Korea Times, Washington Post, Democratic, UNHCR, Thomson Locations: China, North Korea, United Nations, Beijing, Korean, South, North Koreans, Washington

☆ US slaps sanctions on Chinese, Mexican entities in fentanyl action
▼ + stars: | 2023-05-30 | by ( Daphne Psaledakis | ) www.reuters.com time to read: +3 min

The Treasury Department said it slapped sanctions on seven entities and six people based in China, as well as one business and three people based in Mexico. "Counterfeit pills laced with fentanyl constitute a leading cause of these deaths, devastating thousands of American families each year. We remain committed to using all authorities against enablers of illicit drug production to disrupt this deadly global production and counter the threat posed by these drugs." The Biden administration has been pushing for action as U.S. drug-related overdose deaths surpassed 100,000 in 2021, according to government estimates. Reporting by Daphne Psaledakis, Doina Chiacu and David Brunnstrom; Editing by Sharon Singleton and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Biden, Brian Nelson, Liu Pengyu, Washington, brazenly, Liu, Daphne Psaledakis, Doina Chiacu, David Brunnstrom, Sharon Singleton, Jamie Freed Organizations: Treasury Department, Terrorism, Financial, U.S . Centers for Disease Control, Prevention, Washington, Reuters, Treasury, Thomson Locations: United States, China, Mexico, Beijing

LOS ANGELES, April 4 (Reuters) - China, Taiwan, and the United States all share a common interest in ensuring this week's California stopover by Taiwan's president gets the focus each thinks it deserves, but without setting off a new crisis. It is sure to elicit a forceful reaction from Beijing, which considers Taiwan part of its territory. McCarthy, as House speaker, is third in line to the U.S. leadership and he has said publicly that he does not rule out a future visit to Taiwan. Xu Xueyuan, charge d'affaires at China's Washington embassy, said last week that McCarthy meeting Tsai "could lead to another serious confrontation in the China-U.S. With an eye the Taiwan election, China invited former Taiwanese President Ma Ying-jeou of the KMT party for a visit coinciding with Tsai's U.S. stopovers.

One U.S. official told Reuters on condition of anonymity that a meeting between Blinken and Wang was possible at the Munich conference, which runs from Feb. 17-19. "I know there's been a report about a potential meeting in Munich, but I have nothing to announce today." U.S. national security adviser Jake Sullivan noted last week that Blinken had postponed his visit to China, not canceled it or sworn off future high-level communication with China. China's has reacted angrily to Washington's spying allegations, saying the balloon was a civilian research craft and accusing Washington of hypocrisy. "But neither side wants to handle scheduling in the glare of media attention, and both sides are dealing with the uncertainty of balloon-related drama."

☆ Chinese hackers stole at least $20 million in US COVID-19 relief cash, the Secret Service says
▼ + stars: | 2022-12-07 | by ( Cheryl Teh | Huileng Tan | ) www.businessinsider.com time to read: +4 min

A Chinese hacker group stole at least $20 million from the US government, the Secret Service says. These funds were meant for COVID-19 relief, the Secret Service told NBC on Monday. The Secret Service says the hackers responsible are APT41, Chinese state-sponsored cybercriminals. A Secret Service spokesman told NBC News that APT41, a Chinese state-sponsored cyber criminal group, was responsible for stealing millions of dollars from the government coffers. Representatives for the Secret Service and the Chinese embassy in Washington did not immediately respond to Insider's requests for comment.

☆ U.S. senators warn China against any violent crackdown on protests
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 1 (Reuters) - A bipartisan group of more than 40 U.S. senators warned China on Thursday against any violent crackdown on protests there, saying it would do "extraordinary damage" to the U.S.-China relationship. The 42 senators, led by Democrats Dan Sullivan and Jeff Merkley and Republicans Mitch McConnell and Todd Young, said in a letter to China's Washington ambassador Qin Gang that they were following the protests in China very carefully. "We are also closely watching the Chinese Communist Party's (CCP) reaction to them," the senators' letter said, noting Beijing's violent crackdown on student protesters in 1989 that they said killed hundreds, if not thousands of people. "We caution the CCP in the strongest possible terms not to once again undertake a violent crackdown on peaceful Chinese protesters who simply want more freedom. Three decades ago, in the aftermath of the Tiananmen Square crackdown, the United States and many Western governments imposed sanctions against China over the killings.

Register now for FREE unlimited access to Reuters.com RegisterU.S. officials, including Secretary of State Antony Blinken and Defense Secretary Lloyd Austin, have underscored this year that the United States does not support Taiwan independence. "It is incoherent to argue that America's Taiwan policy has not changed while also claiming that the U.S. has a commitment to fight for Taiwan and that Taiwan makes its own judgments about independence," said Craig Singleton, a China policy expert at the Foundation for Defense of Democracies. read more"The President directly affirmed the United States' longstanding one China policy," said Adrienne Watson, a spokesperson for Biden's National Security Council. 'PRECISION OF LANGUAGE'Taiwan's Foreign Ministry responded to Biden's remarks by expressing its "sincere appreciation" for his staunch support of the island. "One issue where the precision of language is paramount is the discourse on our Taiwan policy," Blanchette said.

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