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Search resuls for: "Pacific Region"


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Taipei, Taiwan CNN —Taiwan’s defense ministry has urged Beijing to stop its “persistent military harassment,” after it detected more than 100 Chinese warplanes close to the island in a 24-hour span between Sunday and Monday. The number of warplanes recorded posed “severe challenges to the Taiwan Strait and regional safety,” the ministry said in a statement. According to a flight map provided by the ministry, 40 of the 103 Chinese warplanes crossed the median line on the Taiwan Strait and entered Taiwan’s self-declared air defense identification zone (ADIZ). Those 40 incursions were made by 10 Su-30 fighter jets, 12 J-10 fighter jets, four J-11 fighter jets, 10 J-16 fighter jets, two Y-20 aerial refueling aircraft, and two KJ-500 airborne early warning and control planes. The highest record of Chinese warplanes that entered Taiwan’s ADIZ within 24 hours was reported in October 2021, when 56 planes made the incursion in one day.
Persons: Taiwan CNN —, Su, Taiwan – Organizations: Taiwan CNN, Party, Taiwan, Communist Party, Taiwan’s ADIZ Locations: Taipei, Taiwan, Beijing, Taiwan Strait
WASHINGTON (Reuters) - Pacific island countries will meet next week with U.S. President Joe Biden for a second summit with his country, the secretary-general of the Pacific Islands Forum Henry Puna said on Monday. Puna made the announcement at an event in New York hosted by the Carnegie Endowment for International Peace. "I'm very hopeful that those outcomes will translate into concrete actions moving forward, because right now, there's a lot of issues and challenges confronting our Pacific region. He said the stance of the Pacific island countries had been clear: "we will engage with any partner who is willing to work with us, rather than around us." Biden hosted a first summit with Pacific island leaders a year ago, at which his administration pledged to help stave off China's "economic coercion," and he promised to work harder with allies and partners to address islanders' needs.
Persons: Joe Biden, Henry Puna, Puna, Biden, David Brunnstrom, Trevor Hunnicutt, Mark Porter, Andrea Ricci Organizations: WASHINGTON, U.S, Pacific, Carnegie Endowment, International Peace Locations: Pacific, New York, Puna, Washington, COVID, United States, China
(AP) — President Joe Biden's national security adviser met with China's foreign minister over the past two days on the Mediterranean island nation of Malta in an effort that the White House said Sunday was intended to “responsibly maintain the relationship” at a time of strained ties and mutual suspicion between the rival powers. The Biden administration shot down what was described as a Chinese spy balloon earlier this year. And after Chinese President Xi Jinping centralized his power, the Chinese economy has not rebounded as expected after ending its pandemic lockdowns. The White House said Sullivan and Wang discussed the relationship between the two countries, global and regional security issues, Russia's war in Ukraine and the Taiwan Strait. They talked about the Mediterranean region's role in helping to provide “global peace and security,” according to a statement by the Maltese government.
Persons: Joe Biden's, Jake Sullivan, Wang Yi, Joe Biden, Premier Li Qiang, ” Biden, Biden, “ It’s, , Gina Raimondo, Xi Jinping, Sullivan, Wang, Robert Abela, ___ Madhani Organizations: White, Premier, Group Locations: WILMINGTON, Del, Malta, Washington, Beijing, India, Japan, South Korea, Vietnam, Hanoi, China, U.S, Ukraine, Taiwan Strait, United States, People’s Republic of China, Maltese
[1/2] Admiral John C. Aquilino, Commander of the United States Indo-Pacific Command speaks at the IISS Special Lecture in Singapore March 16, 2023. REUTERS/Caroline Chia/File Photo Acquire Licensing RightsMANILA, Sept 14 (Reuters) - The United States may seek access to more military bases in the Philippines under a joint defence agreement between the two countries, the chief of the U.S. Indo-Pacific command said on Thursday. Admiral John Aquilino said he and the Philippines' military chief, Romeo Brawner, had discussed further expanding the number of bases U.S. forces could access under the Enhanced Defense Cooperation Agreement (EDCA). The United States says it intends to bolster an already strong alliance and improve the defence capability of the Philippines. Aquilino also said the two countries were seeking to complete an agreement on boosting their intelligence sharing.
Persons: John C, Aquilino, Caroline Chia, Admiral John Aquilino, Romeo Brawner, Brawner, there's, Karen Lema, Mikhail Flores, Martin Petty, Gerry Doyle Organizations: Pacific Command, REUTERS, Rights, Enhanced, Thomson Locations: United States, Singapore, Rights MANILA, States, Philippines, U.S, China, Washington, Taiwan
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
BEIJING, Sept 13 (Reuters) - U.S. and European firms are shifting investment away from China to other developing markets, a report from Rhodium Group showed, with India receiving the vast majority of this redirected foreign capital, followed by Mexico, Vietnam and Malaysia. "Diversification is well underway," the research organisation said, but acknowledging: "it will take years for advanced economies to achieve the objectives behind their 'de-risking' policies," as China is so central to global supply chains. Low production costs and the prospect of a massive middle class drew the first foreign firms to China in the late 1980s, as the country abandoned its Maoist economic model. The shift comes as Chinese local authorities struggle to revive foreign investment after an economically bruising pandemic and property crisis depleted their coffers. But the authors cautioned that diversification is unlikely to result in a rapid decline in exposure to China because the markets foreign firms are investing in are heavily reliant on trade and investment with the Asian giant themselves.
Persons: Wednesday's, Joe Cash Organizations: Thomson Locations: BEIJING, China, India, Mexico, Vietnam, Malaysia
Mr. Biden’s trip to Hanoi, which includes a news conference scheduled for Sunday, is centered on signing a “comprehensive strategic partnership” with the Vietnamese, a symbolic but significant status long coveted by the United States. Since taking office, Mr. Biden has sought to enhance relations with several Southeast Asian nations because of their tactical value as a bulwark against rising Chinese aggression in the Indo-Pacific region. Secretary of State Antony J. Blinken accompanied Mr. Biden to the presidential palace, where honor guards marched to martial music before the meeting with Mr. Trong began. Earlier on Sunday, Mr. Biden concluded an eventful trip to New Delhi by joining the Group of 20 leaders at the memorial of Mohandas Karamchand Gandhi, the champion of nonviolent struggle. The G20 summit managed to produce a surprise consensus declaration before the end of its first day.
Persons: Biden, Jon, , Nguyen Phu Trong, Antony J, Blinken, Mr, Trong, Narendra Modi, Mohandas Karamchand Gandhi, Lee Wee Organizations: Air Force, U.S ., Communist Party of Vietnam, Group Locations: Vietnam, Russia, Hanoi, United States, New Delhi, U.S, China, India, Ukraine
Indian Prime Minister Narendra Modi, this year’s host, has pledged not to let Ukraine overshadow the needs of the mostly developing nations in the so-called “ Global South,” but many of those issues are closely affected by the war. Russia's attack on Ukraine and China's growing assertiveness in the Asia-Pacific region have added friction, pitting some of the most powerful G20 countries directly against each other diplomatically, Lesser said. About half of the G20 countries are found in the Global South — depending on how one defines it — and Modi hopes to add the African Union as a bloc member. In preparation, he held a virtual “Voice of the Global South” summit in January and in working groups has targeted issues critical to developing nations, including alternative fuels like hydrogen, resource efficiency, developing a common framework for digital public infrastructure and food security. “While a yearlong presidency cannot solve all the problems of the Global South, India has managed to set the ball rolling on some of these issues, and individual G20 countries can carry forward the work,” she said.
Persons: — It’s, Narendra Modi, , Nazia Hussain, Volodymyr Zelenskyy, Modi, Joe Biden's, Justin Trudeau, Zelenskyy, “ I’m, Ian Lesser, Lesser, Vladimir Putin, Xi Jinping, Li Qiang, Xi, , ” Hussain, Jake Sullivan, Sullivan, Biden, Putin, Hussain Organizations: DELHI, Group, Indian, Global, Singapore's, Rajaratnam, of International Studies, European Union, White, German Marshall Fund, United Arab, Foreign Ministry, U.S, Union, . National, World Bank, International Monetary Fund Locations: Ukraine, “ New Delhi, Russia, China, Bali, India, Brussels, U.S, Canada, Britain, Japan, Germany, Asia, Pacific, Brazil, South Africa, Iran, Saudi Arabia, United Arab Emirates, Argentina, Egypt, Ethiopia, Beijing, BRICS, Moscow
Frank Bienewald | Lightrocket | Getty ImagesSINGAPORE — India's stellar economic trajectory alongside strong forecasts for some Southeast Asian countries will be important drivers for global growth, said S&P Global Insights. Asia-Pacific is a "key driver" for global economic growth not just in the near term, but over the longer run as well, S&P Global's Asia-Pacific chief economist Rajiv Biswas said at the annual energy APPEC conference. India's very robust actually… the momentum in the economy looks really quite strong at the moment. Rajiv Biswas Global Asia-Pacific Chief Economist at S&P GlobalAs a region, Asia-Pacific's growth is expected to strengthen from 3.3% last year to 4.2% this year, according to S&P's projections. "Over the next decade, we expect that about 55% of the total increase in [the] world's GDP will come from the Asia-Pacific region," he said.
Persons: Frank Bienewald, Rajiv Biswas, Biswas Organizations: Lightrocket, Getty, SINGAPORE, Southeast Asia —, Rajiv Biswas Global, Pacific Locations: India, Asia, Pacific, Indonesia, Philippines, Vietnam, Southeast Asia, Rajiv Biswas Global Asia, China
Indian artist Jagjot Singh Rubal gives final touches to an oil painting of U.S. President Joe Biden, at his workshop in Amritsar on September 5, 2023, ahead of the two-day G20 summit in New Delhi. The pair's absence has sparked fears that a communique binding member states may not be issued at the end of a G20 leaders' summit — undercutting India's clout and diminishing his domestic messaging. At a pre-summit press conference Friday, India's G20 sherpa Amitabh Kant said the final declaration "is almost ready." In their joint statement after their Friday bilateral meeting, Biden and Modi "reaffirmed their commitment to the G20." Despite recently traveling to South Africa for a BRICS meeting, Xi has rarely traveled abroad.
Persons: Jagjot Singh Rubal, Joe Biden, Narinder Nanu, Narendra Modi, Biden, Bangladesh —, Modi, Vladimir Putin, Xi Jinping, Putin, Sergey Lavrov, China Premier Li Qiang, Xi, India's, Amitabh Kant, Kant, snubbing Modi, Taiwan — Organizations: Afp, Getty, Indian, U.S, International Monetary Fund, African Union, Global, China Premier Locations: Amritsar, New Delhi, Narinder, Delhi, Washington, Australia, India, Japan, U.S, Mauritius, Bangladesh, China, , Russian, Russia, Ukraine, Germany, France, South Africa, Beijing —, Zambia, Venezuela, Malaysia, Philippines, Vietnam, Taiwan, Beijing
A man walks past an installation on a skywalk ahead of the G20 Summit in New Delhi, India, September 6, 2023. The plans for a sweeping, multi-national ports and rail deal would come at a critical time. It also comes as the Biden administration seeks a broader diplomatic deal in the Middle East that would have Saudi Arabia recognize Israel. The negotiations over a multi-country infrastructure deal were first reported by Axios. Beyond the diplomatic implications, officials said they hope such an infrastructure deal could reduce shipping times, cost, the use of diesel and make trade faster and cheaper.
Persons: Francis Mascarenhas, Joe Biden, Narendra Modi, Saudi Crown Prince Mohammed Bin Salman, Biden, Steve Holland, Trevor Hunnicutt, Heather Timmons, Jamie Freed Organizations: REUTERS, Rights, United Arab, Indian, Saudi Crown, Washington, Axios, Thomson Locations: New Delhi, India, U.S, Saudi Arabia, South Asia, United Arab Emirates, Europe, Israel
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
At Cambodia’s Ream Naval Base, China is nearing completion of what U.S. officials suspect will be its first overseas military outpost in the Indo-Pacific region. Beyond facilitating Chinese military adventurism in the South China Sea, the new base could provide the People’s Liberation Army (P.L.A.) with a staging ground to monitor and influence vital maritime routes like the Malacca Strait, through which an estimated 40 percent of the world’s trade flows. But the base also shines a light on Beijing’s broader embrace of an innovative strategy to challenge American military strength that has potentially grave implications for Washington and its allies. China has plainly stated that these points are designed to “provide support for overseas military operations” and “exert political and military influence” abroad.
Organizations: Ream, Liberation Army Locations: Base, China, South China, Malacca, Washington, Aden . China, Djibouti, East Africa, Equatorial Guinea, Solomon Islands, South Pacific
South Korea's Yoon meets China Premier Li at ASEAN summit
  + stars: | 2023-09-07 | by ( ) www.reuters.com   time to read: +2 min
[1/2] South Korean President Yoon Suk-yeol attends the ASEAN-South Korea Summit at the Association of the Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, September 6, 2023. Tatan Syuflana/Pool via REUTERS Acquire Licensing RightsSEOUL, Sept 7 (Reuters) - South Korean President Yoon Suk Yeol met with China's Premier Li Qiang on the sidelines of an ASEAN summit in the Indonesian capital of Jakarta on Thursday, just hours after Yoon called for a rules-based maritime order in the South China Sea. Yoon's meeting with Li comes after the South Korean leader vowed to enhance cooperation with China and Japan. Just hours earlier, Yoon said any attempts to change the status quo by force in the South China Sea cannot be tolerated. He was speaking at the East Asia Summit which includes the ASEAN bloc, China, Japan, the United States and others.
Persons: Yoon Suk, yeol, Tatan, Yoon Suk Yeol, China's Premier Li Qiang, Yoon, Li, Indonesia's, Kim Jong, Vladimir Putin, Soo, hyang Choi, Jack Kim, Tom Hogue, Michael Perry Organizations: South, ASEAN, South Korea Summit, Association of, Southeast Asian Nations, REUTERS Acquire, Rights, China's Premier, East Asia, United Nations, . Security Council, The United, Thomson Locations: South Korean, Jakarta, Indonesia, Rights SEOUL, Indonesian, South China, China, Japan, South, United States, Pyongyang, Russia, Moscow, The United States, North Korea, Ukraine, South Korea
However, a "recent crackdown on civil society, increased pressure on independent religious communities, alarming reports of forced renunciations of faith, and other growing religious freedom violations add up to a clear reversal in that once-positive trajectory," it said. Vietnam's requirement for religious groups to register contrasted with Hanoi's obligation to provide religious freedom to all its people, it said. "Government authorities continue to closely monitor all religious activity, often harassing, detaining, or otherwise preventing unregistered faith communities from exercising their fundamental right to religious freedom," the report said. Last year, the U.S. State Department added Vietnam to its Special Watch List for violations of religious freedom under the 1998 U.S. Religious Freedom Act, a lesser designation than that of a CPC, but its first since 2006.
Persons: Joe Biden, Frederick Davie, Eric Ueland, Biden, David Brunnstrom, Leslie Adler Organizations: U.S . Commission, USCIRF, Government, U.S . State Department, CPC, Thomson Locations: Vietnam, U.S, backsliding, Washington, Hanoi, China
China warns against 'new Cold War' at ASEAN summit
  + stars: | 2023-09-06 | by ( ) www.reuters.com   time to read: +5 min
[1/5] China's Premier Li Qiang (L) attends the 26th ASEAN-China Summit during the 43rd ASEAN Summit in Jakarta, Indonesia, on September 6, 2023. In remarks at the start of her meeting with ASEAN leaders, Harris said the United States was committed to the region. "The United States has an enduring commitment to Southeast Asia and more broadly to the Indo-Pacific," she said. Just before this week's gatherings, China released a map with a "10-dash line" showing what appeared to be an expansion of the area it considers its territory in the South China Sea. "The Philippines firmly rejects misleading narratives that frame the disputes in the South China Sea solely through the lens of strategic competition between two powerful countries," Marcos said.
Persons: Li Qiang, Yasuyoshi, Li, Kamala Harris, Joe Biden, Xi, Harris, ASEAN's, Retno Marsudi, Ferdinand Marcos, Marcos, Yoon Suk, Yoon, Kim Jong, Vladimir Putin, Stanley Widianto, Kate Lamb, Kanupriya Kapoor, Robert Birsel, Nick Macfie Organizations: China, ASEAN Summit, REUTERS Acquire, China Sea, Asia ASEAN, Association of Southeast Asian Nations, ASEAN, U.S, White, Indonesian, United, South, North, New York Times, Thomson Locations: ASEAN, Jakarta, Indonesia, Asia, JAKARTA, China, Japan, South Korea, Australia, India, South China, United States, Southeast Asia, Myanmar, States, South, Philippine, Philippines, North Korea, Russia, Moscow, Ukraine
"There is a significant risk in the short term of financial crisis or other degree of economic crisis that would carry very substantial social and political costs for the Chinese government. By the time the global financial crisis hit in 2008-09, it had already met most of its investment needs for its level of development, economists say. To keep growth high, China in the 2010s doubled down on infrastructure and property investment, at the expense of household consumption. China has since backed away from major financial market liberalisation while plans to rein in state behemoths and introduce universal social welfare never quite materialised. "But at the same time there's a great fear of the short-term political and social risk, especially of provoking an economic crisis."
Persons: Xi Jinping's, William Hurst, Chong Hua, there's, Max Zenglein, We're, Logan Wright, Alicia Garcia Herrero, Hurst, Liangping Gao, Kevin Yao, Kripa Jayaram, Marius Zaharia, Sam Holmes Organizations: Development, University of Cambridge, International Monetary Fund, Asia Pacific, China's, Reuters Graphics, Thomson Locations: BEIJING, China, Japan, Beijing, Natixis
Sputnik/Yekaterina Shtukina/Pool via REUTERS /File Photo Acquire Licensing RightsSept 3 (Reuters) - Japan's "militarisation" complicates the situation in the Asia-Pacific region, the deputy chair of the Russian Security Council and former President Dmitry Medvedev said on Sunday. "It is regrettable that the Japanese authorities are pursuing a course towards a new militarisation of the country," the Russian TASS news agency quoted Medvedev as saying. "Troop exercises are taking place near the Kuril Islands, which seriously complicates the situation in the Asia-Pacific region." Russia decided this year to declare Sept. 3 - the day after Japan's surrender in World War Two - a "Day of Victory over Militaristic Japan", spurring a protest from Tokyo. Medvedev said Japan, with help from the United States, was expanding its military infrastructure and increasing its arms purchases.
Persons: Dmitry Medvedev, Medvedev, Lidia Kelly, Ekaterina Golubkova, William Mallard Organizations: Russia's, Scientific, Machine, Sputnik, Russian Security Council, Soviet, Russian TASS, Thomson Locations: Reutov, Moscow, Russia, Asia, Pacific, Japan, Russian, Hokkaido, Northern Territories, Soviet Union, Tokyo, United States, China, North Korea, Melbourne
However, in a hopeful sign for growth, conditions did not materially worsen even though the survey showed factories under persistent pressure. China's major manufacturing rivals in the region Japan and South Korea also reported sharp declines in output on Thursday. "It's too early to tell, but today's print suggests that a sequential uptick in growth activity in the third quarter could still be possible," said Louise Loo, senior economist with Oxford Economics. Policymakers remain under pressure to boost domestic demand as the global economy continues to slow. Going forward, "the actual implementation and effectiveness of policy support will be the key indicator to watch," he added.
Persons: It's, Louise Loo, Pan Gongsheng, Frederic Neumann, Bruce Pang, Jones Lang Lasalle, Joe Cash, Qiaoyi Li, Ellen Zhang, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, PMI, Oxford Economics, Reuters, People's Bank of, Global Research Asia, HSBC, Jones, Thomson Locations: Hangzhou, Zhejiang province, China, Rights BEIJING, Japan, South Korea, People's Bank of China, United States, Europe, Asia
REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsBEIJING, Aug 31 (Reuters) - China's military said it had recently held intensive anti-submarine exercises in the strategically important South China Sea as part of efforts to hone its capabilities amid rising maritime tensions with its neighbours and their allies. It was one of several such drills this year and was part of broader activities the Chinese military has conducted in the Indo-Pacific region. The United States and its allies have also stepped up military activities, especially in the South China Sea, most of which is claimed by Beijing. Last week, the U.S. and Indonesian defence chiefs said China's territorial claims in the South China Sea were "inconsistent with international law". "Japan and the United States have frequent submarine activities in the region," said Chinese military commentator Song Zhongping, but those activities were not disclosed.
Persons: Tyrone Siu, Song Zhongping, Albee Zhang, Ryan Woo, Gerry Doyle Organizations: Community Emergency, Team, REUTERS, Rights, Southern Command Theatre, China's, Liberation Army, Beijing, U.S . Navy, Seventh Fleet, Thomson Locations: Hong Kong, China, Rights BEIJING, South China, United States, U.S, Philippine, Japan, Australia, Britain
However, some investors believe a bearish China story is shifting the spotlight onto investment opportunities in other Asian markets. Morgan Stanley downgraded the iShares MSCI China ETF (MCHI) to equal weight from overweight in early August, citing lower earnings growth expectations and structural challenges. Opportunity in Japan Japan currently stands out as a "particularly attractive" investment play, according to Horizon Investments chief investment officer Scott Ladner. Investors can get access to the Japanese market through the iShares MSCI Japan ETF (EWJ) , which has an expense ratio of 0.5% and more than $13 billion in assets. Ways to play the space include the iShares MSCI South Korea ETF (EWY) , the Franklin FTSE South Korea ETF (FLKR) and the iShares MSCI Taiwan ETF (EWT) .
Persons: Morgan Stanley, Wells, Jay Bryson, Scott Ladner, Ladner, Seth Carpenter, it's, Carlos Asilis, China —, Asilis, Franklin Templeton's FLKR, we've Organizations: Horizon Investments, Bank of Japan, Glovista Investments, Korea ETF, Franklin FTSE, Franklin FTSE South Korea ETF, U.S Locations: China, Wells Fargo, Japan Japan, Japan, Asia, Pacific, South Korea, Taiwan, Korea, Franklin FTSE South, Australia, India, Vietnam, Indonesia
And, in the meantime, our China-focused names are poised to ride out the storm, while finding alternate routes to growth. Beyond the housing-sector woes, manufacturing activity is shrinking, a youth unemployment crisis is a ballooning, and consumer spending remains sluggish. With these macroeconomic headwinds holding back growth for some of the Club's key holdings, here's why we're sticking with these China-exposed names — and how each is responding. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Lauder, Estee Lauder, we're, Tim Cook, That's, Bernstein, WYNN, Wynn, Stifel, Jim Cramer's, Jim, Yan Daming Organizations: Wall, Research, CNBC, Big Tech, Starbucks, Wynn Resorts, WYNN, Wynn, Visual China, Getty Locations: China, Beijing, Asia, Pacific, Hainan, India, Taiwan, Hong Kong, Americas, Europe, U.S, Macao, Wynn, Nanjing, Shanghai
Mapping the exodusUnion Square has historically been a major commercial hub in the heart of San Francisco’s downtown. A complicated decline in downtownThe reasons for downtown San Francisco’s economic troubles are multi-faceted. In addition, San Francisco’s downtown has experienced a rise in its unhoused population. As San Francisco’s downtown area has emptied over the last three years, property crimes and retail thefts have risen, according to San Francisco Police Department data. Travel to San Francisco has yet to recover fully to pre-pandemic levels, according to data from San Francisco International Airport.
Persons: , , Elon Musk, Tesla, Francisco, , Lori Lincoln, San Francisco —, Lincoln, Breed, Alexander Quinn, Breed’s, Sarang Peruri Organizations: Los Angeles CNN, Lease, Google, city’s, Nordstrom, CNN, Westfield, San Francisco Centre, KGO, University of California, San Francisco Police Department, San Francisco International, San Francisco Travel, Tourism, San, Oxford Economics, Asia hasn’t, San Francisco Mayor London, Francisco’s, Oxford Capital Group, Ikea, IKEA Locations: Francisco’s, United States, San Francisco’s, Union, Westfield, San Francisco, San, California, Redfin, Palo Alto, Asia, Americas, Europe, Pacific, San Mateo, Lincoln, China, Downtown, Chicago
The recent rally in Chinese stocks could catch investors out, according to a UBS chief investment officer, who warned of a "pain trade." He added that, if the positive news continues, Chinese markets could climb further. Tactical trade However, Zuercher said there could be a "tactical trade" over the coming weeks or months, as hedge funds potentially suffer. I do think a lot of hedge funds are also probably mispositioned in this area," Zuercher said. Hedge funds often use a long-short strategy, where they buy stocks in the same sector, betting that one will go up and the other down.
Persons: Gina Raimondo, Adrian Zuercher, CNBC's, Zuercher, — CNBC's Evelyn Cheng, Elliot Smith Organizations: UBS, U.S Locations: Asia, Pacific, U.S
43% of workers returning to the office came in for under 6 hours in the first half of 2023, said a workplace analytics firm. In the same period, average office occupancy rates in North America peaked at 35% per week. AdvertisementAdvertisementThose clocking in for the shortest stints — representing about 1 in 5 North American office-goers — did so for less than 3 hours a day. Average office occupancy rates in North America peaked at 35% a week during the first half of the year, per Basking's data. The start and end of the workweek were the least popular for office-goers, with North American offices seeing a 17% occupancy rate on Monday.
Persons: , RTO, Goldman Sachs, JP Morgan, Morgan Organizations: North America, Service, Washington Post, North, Employers, Apple, Deloitte Locations: North, Wall, Silicon, Asia, Pacific, Europe, Washington
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