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☆ Zhongnanhai: The scenic garden that became China’s secretive seat of power
▼ + stars: | 2024-05-25 | by ( Jonathan Chatwin | ) edition.cnn.com time to read: +18 min

As the seat of power, Zhongnanhai is often thought of as China’s equivalent to the White House, or the Kremlin. Architectural changesThere have been serious revisions to the architecture of Zhongnanhai since the end of imperial rule in 1912. Having re-established Zhongnanhai as a center of political power in the new China, Mao set about rebuilding the compound according to his tastes. “It was here,” noted Aldrich, “with the background trappings of a scholar, that he met Nixon and Kissinger in 1972.”Most subsequent leaders have preferred to keep a house outside the Zhongnanhai compound. However, the compound hasn’t always been so forbidden for the masses following the collapse of China’s imperial dynasty.

Persons: Jonathan Chatwin, “, Deng Xiaoping, Leung Chun, Xi Jinping, Simon Song, Xi Jinping’s, Ming, Geremie Barmé, Qianlong, Feng Li, ” Linda Jaivin, ”, Dowager Cixi, Zhongnanhai, Cixi, Dowager, M, Aldrich, Mao Zedong, ” Aldrich, China’s, Yuan Shikai, Yuan Shikai ‘, William Lewisohn, Xinhuamen, William Cooper, —, Qianlong Emperor, Yuan, Invincible Mao, — Mao, Kangxi, Mao, Zhou Enlai, Chen Yi, Zhang Wentian, Nikita Khrushchev, Khrushchev, Nixon, Kissinger, Hu Jintao, Jiang Zemin, Newscom Aldrich, Mao’s, Li Zhisui, Xi, Chicago's Walter, Hu Yaobang, Gong, “ Heck Organizations: CNN, Bell, Communist Party, CCP, White, Hong, China Morning, University of Bristol Library, Great Communist Party of China, ”, Shuangqing Villa, Alamy, State Council, China’s Politburo, Huairen, Chicago's Walter Payton College Preparatory, New York Times, Zhongnanhai, Bloomberg Locations: Modern China, Prospect, Tiananmen, Hong Kong, Zhongnanhai, City, China, Beijing, “, People’s Republic, New China, Arlington, Peking, Xinjiang, Russian, Beihai, Beijing’s, Huairen, Qinzheng Hall

☆ Rich Chinese millennials are creating new status symbols. Here are 11 ways they are redefining luxury.
▼ + stars: | 2024-05-19 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +12 min

Rich millennials in the US have been known to splash out on their pets, new laundry rooms, and expensive coffee machines. And over in China, rich millennials have their own ideas of what counts as a luxury status symbol. AdvertisementExpect to see these rich millennials mixing luxury casual wear like T-shirts and sneakers with traditional luxury brands, Banta told BI. And getting regular aesthetic treatments has become a top priority for affluent millennials, Banta told BI. Independent luxury brands that offer more authentic products and those that draw on cultural heritage are also highly in demand, she said.

Persons: —, they've, Rich millennials, They've, Claudio Lavenia, Louis Vuitton, Daniel Langer, Amrita Banta, Budrul Chukrut, Elisa Harca, Ant Asia, Mary, Kate, Ashley Olsen, prioritizes, Harca, Banta, JUAN BARRETO, Olivia Plotnick, Port Ellen, Alexandra Bacon, Ewan Andrew, Langer, Black Pearl, JOHANNES EISELE, Olivier Morin, Plotnick, Tom Dixon, Potnick, Gen, Gabriella Tegen, Gen Z Organizations: Service, Business, Pepperdine University, Research, Getty, JUAN BARRETO Travel, Wai, Social, Diageo, Michelin, China Morning, Meituan, Clover, Bloomberg, Clover Suites, China News Service, McKinsey, Brands, Independent Locations: China, Antarctica, Iceland, Shanghai, Port, Scotland, That's, Harca, Singapore, Banta, millennials

☆ Take a look at the 'Mighty Dragon,' China's $120 million stealth fighter meant to rival the US Air Force's fifth-gen jets
▼ + stars: | 2024-05-17 | by ( Marielle Descalsota | Lauren Frias | ) www.businessinsider.com time to read: +1 min

The Chinese jet has drawn comparisons to the F-35 since the jets were locked in military encounters in 2020. The Chengdu J-20 and the Lockheed Martin F-35. Ju Zhenhua/Xinhua/Getty Images; rancho_runner/iStock /Getty Images PlusThe F-35 jet was introduced to the US military in July 2015. There are three variants of the jet: the conventional takeoff and landing F-35A, the short takeoff and vertical landing F-35B, and the carrier-based F-35C. Lockheed Martin touts the F-35 as the "most advanced fighter jet in the world," with very low observable stealth, advanced sensors, information fusion, and network connectivity.

Persons: Lockheed Martin, Ju Zhenhua, Kenneth Wilsbach, Wilsbach Organizations: Lockheed, Getty, US Air Force, China Morning Post, US Pacific Air Forces Locations: Chengdu, Xinhua, East

☆ He left his desk job in the US to run a food stall in Hong Kong. He earns more now — but plans to walk away from it soon.
▼ + stars: | 2024-05-10 | by ( Faye Bradley | ) www.businessinsider.com time to read: +9 min

Toby To Yan Choi left his accounting job in California to help his father run a food stall in Hong Kong. Dai pai dongs — Hong Kong's open-air stalls serving food with a no-frills approach — are disappearing. The number of dai pai dongs in all of Hong Kong has dwindled to just over 20, according to the Hong Kong Tourism Board. The braised white pepper pork hock is one of the signature dishes at Dai Lee Dai Pai Dong. AdvertisementHe's gotten married since moving to Hong Kong and plans to move back to the US if he and his wife have kids.

Persons: Toby, Yan Choi, Dai pai dongs, —, Santa Barbara, Choi, Dai Lee Dai Pai Dong, pai, Hong Kong, He's, Hong Kong Dai pai dongs, Hong, sizzling woks, Agnes Chee Yan, Wei, pai dongs, Tiffany Leung, Faye Bradley, wasn't, Shawn Cai, Law Chun Chuen, Dai Lee Dai Pai, Yan Choi There's, they've, Tony Lee, Mok Wah Ho, Ales, Yan Choi He's, Betty Richardson, dongs, Chee, I'm Organizations: Service, University of California, Kong's, Hong Kong Tourism Board, China Morning Post, Young Locations: California, Hong Kong, Santa, Hong, Sham Shui, Sham, China, Shanghai

Stormy Daniels took the stand at Trump's hush-money trial Tuesday. "My name is Stormy Daniels," the porn star at the center of the historic trial said as she swore to tell the truth while at the witness stand of a Manhattan courtroom, just 20 feet from Trump. Daniels told the jury she directed her first adult film at age 23. Advertisement"They marked it down in the books, the check was signed," Trump told reporters before he headed into the courtroom. Prosecutor Susan Hoffinger explained that there will be details in Daniels' testimony about how the porn star "ended up having a sexual encounter" with Trump.

Persons: Stormy Daniels, Trump, Daniels, —, Donald Trump's, Stephanie Clifford, Susan Hoffinger, Daniels —, Attorney Alvin Bragg, Michael Cohen, fumed, Cohen, We're, Susan Necheles, Juan Merchan, It's, Necheles, Merchan, Hoffinger Organizations: Service, Trump, Prosecutors, Attorney, Trump Organization, New Locations: Trump, Manhattan, Trump's, Lake Tahoe, Israel

☆ Former ByteDance worker says she feels 'much freer' since quitting and can now take a day off when she's tired
▼ + stars: | 2024-05-06 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

A former ByteDance employee told SCMP that she once fainted on the job after weeks of long hours. The grueling schedule is known as "996" culture in China. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Zoe Du, a former ByteDance employee, told the South China Morning Post that she left the TikTok owner in 2020 after 10 years at the company.

Persons: SCMP, —, Zoe Du, Du Organizations: Service, South China Morning, Business Locations: China

☆ DOJ charges 'Bitcoin Jesus' with $48 million tax fraud, seeks extradition
▼ + stars: | 2024-05-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

(Photo by Danny Lee/South China Morning Post via Getty Images)The Justice Department unveiled criminal tax fraud charges this week against a prolific bitcoin investor named Roger Ver. He came to be known as "Bitcoin Jesus," for getting in early on the digital currency and making a fortune. The DOJ alleges that in preparing those tax filings, Ver underrepresented his bitcoin holdings and evaded taxes on them. The United States is seeking his extradition to face trial on eight counts related to tax evasion, mail fraud and filing false tax returns. According to the indictment, the IRS used a strategy called "clustering analysis" to track the blockchain and identify Ver's bitcoin transactions.

Persons: Roger Ver, Danny Lee, Ver, Bryan Skarlatos, bitcoin Organizations: South China Morning, Getty, Justice Department, Internal Revenue Service, DOJ, CNBC, eBay, IRS Locations: South, California, Caribbean, St, Kitts, Nevis, U.S, Spain, United States, Pest

☆ Chinese scientists want to use lasers to power ultrafast, stealthy submarines. A laser expert says there's a major flaw in their plan.
▼ + stars: | 2024-04-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Chinese researchers say they have made a breakthrough in laser propulsion technology that could one day be used on submarines and missiles. A laser propulsion expert at McGill University told Business Insider they see flaws in the claims. Rather than relying on nuclear or battery power, the scientists say they have found a way to use lasers to propel submarines — known as underwater laser propulsion. This technology has already been used in Russian Shkval torpedoes since the 1970s, using rocket exhaust rather than laser power. "The average overall thrust is low and the jet power cannot exceed the power supply of the laser."

Persons: —, Yang Ge, Xulong Yang, Ge Yang, Andrew Higgins, Higgins Organizations: McGill University, Business, Service, Submarines, China's Harbin University, China Morning Post, NASA, Harbin University, China Defense Locations: China, Sinica, torpedos

☆ Beijing half-marathon winner stripped of medal after 3 African runners let the Chinese athlete overtake, video appears to show
▼ + stars: | 2024-04-20 | by ( Cameron Manley | ) www.businessinsider.com time to read: +3 min

Organizers of Beijing's half-marathon stripped the winner of his gold medal, say reports. Video evidence appeared to show African runners slow to allow China's He Jie to overtake and win. Robert Keter then waves at He to overtake and signals to the other two African runners to pull back. AdvertisementThe investigation revealed the three African runners to be pacemakers, hired by Chinese sports company Xtep, which sponsored both He and the Beijing Half Marathon, but it did not inform the organizers. AdvertisementAll four runners' results have been revoked, and they will be stripped of their trophies, medals, and bonuses.

Persons: Jie, Kenya'sWilly Mnangat, —, Kenya's Robert Keter, Willy Mnangat, Mnangat, Robert Keter, Xtep, Zhong'ao Organizations: Service, Guardian, BBC Sport, South China Morning, World, Sports Management Co Locations: Beijing, BBC Sport Africa

☆ Top EU official warns on 'weaponization of trade' as tensions ramp up between the U.S. and China
▼ + stars: | 2024-04-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Valdis Dombrovskis, Vice-President of the European Commission for the Euro & Social Dialogue, photographed at the Renaissance Harbour View Hotel in Wan Chai. 02DEC17 SCMP/ Xiaomei Chen (Photo by Chen Xiaomei/South China Morning Post via Getty Images)The European Union's trade chief on Wednesday warned against the "weaponization" of trade amid the latest ratcheting up of tensions between the U.S. and China. EU trade commissioner Valdis Dombrovskis told CNBC that he did not believe trade "protectionism" was the answer to heightened geopolitical tensions, but insisted that the bloc was willing to defend itself in the new trade environment. "The geopolitical landscape is changing, it's getting more fragmented, it's getting more conflictual, we see the weaponization of trade. So we need to equip ourselves also as the European Union to function in this more conflictual world," Dombrovskis told CNBC's Karen Tso.

Persons: Valdis Dombrovskis, 02DEC17, Xiaomei Chen, Chen Xiaomei, Dombrovskis, Karen Tso, Mario Draghi, Joe Biden, Katherine Tai Organizations: European Commission, South China Morning, Getty, U.S, CNBC, European Union, European Central Bank, U.S . Trade Locations: Wan Chai, South, China, EU, Pennsylvania, U.S

☆ The security pact between the US, UK, and Australia could be expanding, and it's got China worried
▼ + stars: | 2024-04-09 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

China said it is "gravely concerned" over reports that Japan could join the AUKUS security pact. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementChina's foreign ministry said it is "gravely concerned" over reports that Japan could join AUKUS, a security and defense pact between Australia, the UK, and the US. Japan needs to earnestly draw lessons from history and stay prudent on military and security issues," she added. Speaking at a news conference on Tuesday, Australia Prime Minister Anthony Albanese clarified that working with Japan wouldn't signal recruitment.

Persons: —, wasn't, Pilar, Aukus, Biden, Fumio Kishida, Mao Ning, Anthony Albanese, " Albanese, nothing's, There's Organizations: Service, US, Japan, White, China Morning Post, US Naval, Forbes, Australia, Reuters Locations: China, Japan, Australia

☆ Armie Hammer is still laying low after his fall from grace. Here's what we know about his life today.
▼ + stars: | 2024-04-09 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +5 min

Hammer has remained out of the spotlight since his 2021 fall from grace. Effie later accused Hammer in a press conference of raping her, and other women also came forward with allegations about Hammer, Air Mail reported. Chris Pizzello/APThat same month, Hammer and Chambers finalized their divorce, each waiving their right to a divorce trial. AdvertisementHammer has also kept his personal life private but may have briefly been engagedHammer has posted sparingly on Instagram since his fall from grace. According to People, a since-removed Instagram post appeared to show that Hammer had proposed to Gris in October 2023.

Persons: Armie Hammer's, Elizabeth Chambers, Hammer, Chambers, —, Hammer's, Effie, Prosecutors, Jennifer Lopez, William Morris, Kenneth Branagh, didn't, Armie Hammer, Chris Pizzello, Pema Chödrön, Marina Gris Organizations: Service, Air Mail, Air, Los Angeles District, Business, William, William Morris Endeavor, Variety, China Morning Post Locations: Cayman Islands, Hollywood, Gris

☆ Wall Street is getting nervous about Tesla
▼ + stars: | 2024-04-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why Wall Street is getting nervous about Tesla . South China Morning PostEarnings season is approaching, and Wall Street's already ringing the alarm on a high-profile company. AdvertisementTesla won't report its full earnings until later this month, but Wall Street is preparing for trouble. One analyst called it a "nightmare" quarter for the company, while another firm labeled Tesla "a growth company with no growth." One strategy is getting more Tesla drivers subscribed to its Full Self-Driving software, which can run $199 monthly.

Persons: —, Wall, Insider's Beatrice Nolan, Tesla, It's, that's, Elon Musk, ANDERSEN, Alyssa Powell, Donald Trump's, Ken Griffin's, Claire Merchlinsky, MoviePass, Ted Farnsworth, Manoj Bhargava, Putin, Elvira Nabiullina's, Forbes, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Tesla, China, Bloomberg, Nvidia, Meta, Microsoft, Apple, Getty, BI Trump Media, SEC, Citadel, BI, Street Journal, Authentic Brands, Energy, Bank of Russia, The Locations: China, Russia's, Connecticut , Delaware , New York, Rhode Island, Wisconsin, New York, London

☆ The world’s best dumplings
▼ + stars: | 2024-03-28 | by ( Julia Buckley | ) edition.cnn.com time to read: +17 min

The best way to sample these dumplings is from a street vendor carting a steamer on his bicycle. KartoffelknoedelCarbtastic kartoffelknoedel ExQuisine/Adobe StockFound across Germany, kartoffelknoedel, or potato dumplings, usually accompany meat dishes. Artit_Wongpradu/iStockphoto/Getty ImagesSome dumpling purists say that the Australian dim sim is merely a bastardized version of Chinese dumplings. Joshua Resnick/500px Plus/Getty ImagesFound on Chinese takeout menus in the United States, crab rangoon are deep-fried dumplings served as a side dish. Shish barakShish barak are lamb dumplings served with yoghurt.

Persons: ., Ravioli, –, chao shou, chao, bryndzové, Lisa Wiltse, dumpling, Edward Wong, there’s, Beata Zawrzel, Mayur, Lord Ganesha, Ganesh Chathurthi, Pelmeni, Dim sims, Peng, Kimchi, Jonathan Wong, manti, speck, you’ll, Deb Lindsey, Uszka, Gyoza, Joshua Resnick, Ihor, it’s, It’s, DiAnna Paulk, Paolo Bernardotti, Shish barak Shish barak, Julia Buckley Organizations: CNN, South China Morning, Adobe, Central Asia, Kazakhstan –, Turks, Adobe Stock, Corbis, China Morning, Getty, Turkish, Fascism, Washington Post Locations: . Cheng, South, Italy, Rome, Sichuan, Central, Turkey, China, Azerbaijan, Kazakhstan, Central Asia, Mongol, Slovakia, Slovakian, Indonesian, Bandung, Hong Kong, Eastern Europe, Maharashtra, Germany, Brazil, Siberia, European, Australia, North America, Europe, Tunisian, Argentina, empanadas, Mendoza, USA, Southern, United States, Central Asian, Korea, Alto Adige, Austrian Tyrol, Kathmandu, Poland, Tokyo, rangoon, Asia, Russia, Georgia, Japan, Pennsylvania, Piedmont, Afghanistan

☆ China is reportedly developing military drones that can split into 6 to overwhelm enemy defenses
▼ + stars: | 2024-03-24 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

The multiplying drones could expand into swarms that would confuse air defense systems, experts told Business Insider. But even when separated into single units, these drones' flight efficiency remains 40% higher than most small drones. Advertisement"When drones are detected, defense systems deploy a certain amount of resources proportional to the threat. If that threat suddenly multiplies, it provides an opportunity to overwhelm the air defense resources being deployed," Shumate said. Small, affordable drones are reshaping the modern battlefield in unprecedented ways, and forcing militaries to rapidly modernize their defense systems.

Persons: —, Getty, Will Shumate, Shumate, Huang, Sean Gallup, Admiral John Aquilino, Admiral Aquilino Organizations: Service, China Morning Post, Nanjing University of Aeronautics, Astronautics, Acta Aeronautica, Army, RAND, Getty, US Army, Pacific Command, Armed Locations: China, Russia, Ukraine

☆ Trump claims he has $500 million in cash — despite not being able to secure $454 million bond
▼ + stars: | 2024-03-23 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +1 min

Trump claims he has nearly $500 million in cash despite being unable to pay a $454 million judgment. Trump, his sons, and employees were found liable for the penalty for inflating the value of Trump Organization assets. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFormer President Donald Trump has claimed that he has almost $500 million in cash despite saying he can't cover a $454 million judgment in a New York civil fraud case. This story is available exclusively to Business Insider subscribers.

Persons: Trump, —, Donald Trump Organizations: Trump Organization, New, Service, Business Locations: New York

☆ Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +2 min

The outlook has turned rosier since Foxconn Chairman Young Liu said in November the world's largest contract electronics maker had "relatively conservative and neutral" expectations for 2024. The profit beat a T$43.52 billion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. In the fourth quarter, consumer electronics including smartphones accounted for 58% of revenue while cloud and networking products, including servers, contributed 20%. Foxconn said it expects revenue for the first quarter to slightly decline from a year earlier, with revenue for smart computer electronics also likely to drop in the period. Apple last month reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business though its China sales missed analysts' targets.

Persons: 20JUL16 SCMP, Nora Tam, Foxconn, Young Liu Organizations: South China Morning, Getty, Foxconn, Hai Precision Industry Co, Apple, Wall Locations: Foxconn, Longhua, Shenzhen, 20JUL16, South, China

☆ China and Russia are outpacing the US and its allies in military technology development, Australian defense official warns
▼ + stars: | 2024-03-06 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

An Australian defense official is warning about military tech gaps between the US and China. AdvertisementThe US and Australia must reinforce their industrial partnership and step up military preparations in the Indo-Pacific region amid China's increasingly aggressive behavior in the South China Sea, a high-ranking Australian defense official said this week. Jeffrey's comments come after years of rising tensions in the Indo-Pacific region. Advertisement"Russia and China are outpacing the US and its allies," Jeffrey said, according to the outlet, which noted that he was discussing military technology. AdvertisementThe Department of Defense said in a recent China Military Power Report that China is "the only competitor" to the US with the intent and capacity to change the global order.

Persons: —, Hugh Jeffrey, Jeffrey, Biden Organizations: Service, Industry, Center for Strategic, International Studies, China Morning Post, Navy, US, US Army, BI, of Defense Locations: China, Asia, Australia, South China, Washington, DC, Russia, Taiwan, Indonesia

☆ BYD fires the latest shot in China's EV price war with 12% price cut
▼ + stars: | 2024-03-05 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +2 min

BYD, the world's top-selling EV seller, has launched a cheaper version of its Yuan Plus car. Rivals such as Xpeng and Tesla have also initiated price drops and incentives to entice buyersIt comes as EV sales have dropped in China. The price cut, which comes amid an accelerating EV price war and slowing sales in the world's biggest car market, was first reported by Reuters. As well as cornering the affordable EV market, it's also dabbling in the other end of the market with a $233,000 electric supercar. As a result, Shenzhen-based BYD is "not planning to come to the US," BYD Americas CEO Stella Li told Yahoo Finance last week.

Persons: Tesla, —, Xpeng, Elon, Warren Buffett, BYD, it's, EVs, Stella Li Organizations: Service, Reuters, China Morning Post, Auto, L6, Yahoo Finance, EV Locations: China, Weibo, America, Shenzhen, West

☆ China EV shares are feeling the heat as price war concerns grow
▼ + stars: | 2024-03-05 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

While consumer interest is improving, the "wait for a better price" sentiment continues to constrain sales volumes for EV makers, Ding said. watch nowAt least 30% of China's entire auto market is made up of electric vehicles, with most of those EVs coming from homegrown brands. Hong Kong-listed shares of Li Auto fell 3.9%, while Nio shares dropped 3.6% and Xpeng was down 1.8%. BYD shares were up 0.4%. Despite price cuts announced earlier, Tesla still lost market share in China in January, mainly in the large cities, according to Morgan Stanley.

Persons: Tesla, Yuqian Ding, Ding, Xpeng, Morgan Stanley, Li, Li Auto, SCMP, Zhu Jiangming, Nio, BYD, Bernstein Organizations: Getty, HSBC Qianhai, CNBC, Li Auto, China Morning, Reuters Locations: Hong Kong, China, Stellantis

☆ China's food delivery gig workers are driving a $208B business, but couriers have it as bad as factory workers
▼ + stars: | 2024-03-03 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. However, the laborers behind the surging industry face conditions similar to those in the country's factories, facing low wages, long hours, and risky, repetitive work, according to numerous reports. Lu, a 19-year-old Meituan delivery driver in Guangzhou, told Nikkei Asia he earned just 7 yuan per delivery, less than a dollar. In the US, delivery drivers average $17.10 per hour, according to the Bureau of Labor Statistics. They "know it is impossible to deliver in the time expected by the platform," Tiziano Bonini from the University of Siena, who has been studying gig work in China, told the outlet.

Persons: —, Lu, Meituan, Didi Chuxing, SCMP Organizations: Service, Nikkei Asia, Business, Economic Research, Wired, Bureau of Labor Statistics, China Morning, Ministry of Human Resources, Social Security, University of Siena Locations: China, Guangzhou, Guanzhou, Shanghai

☆ 2024 is already straining the seams of China and Russia's 'no limits' partnership
▼ + stars: | 2024-02-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

AdvertisementRussia's finance ministry has been discussing yuan loans with its China counterparts — but a delayed decision suggests the two countries' "no limits" partnership may be under strain. Russian Finance Minister Anton Siluanov told RIA state news agency in an interview published on Monday that Russia is discussing the issue with Chinese authorities. Russia's finance ministry did not immediately respond to a request for comment from Business Insider. However, two years after Russia started its ongoing war in Ukraine, Russia and China appear to be continuing to conduct business as usual. Three of China's Big Four state banks have halted payments from sanctioned Russian financial institutions, Russia's Izvestia news outlet reported on February 21.

Persons: Anton Siluanov, Siluanov, Vladimir Putin, Dong Jinyue, SCMP Organizations: China, Russian, Business, Beijing, Street, China Morning Post, BBVA Research, Russia Locations: Russia, China, Moscow, Ukraine, Madrid, Russian

☆ Apple fans in China can't buy the Vision Pro yet, so they're lining up to rent it by the hour or day
▼ + stars: | 2024-02-28 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

Read previewPeople living in China are eager to try out the Apple Vision Pro before it launches in the country — and some are lining up to rent the headsets from third-parties, the South China Morning Post reported. It's unclear how Chinese third-party vendors get their Apple Vision Pros. AdvertisementFor people interested in enjoying some time with a Vision Pro in their own home, however, third-party vendors aren't just leasing the headsets in China. Photography equipment rental companies like Lensrentals and ShareGrid appear to be offering their own Apple headset rentals starting at $120 a day. Are you using the Apple Vision Pro in an interesting way?

Persons: —, Zhuan, SCMP, Tim Cook, hasn't, Apple didn't, Aaron Mok Organizations: Service, Apple Vision, China Morning Post, Business, VR, South China Morning, Apple Locations: China, Beijing, amok@insider.com

☆ Navalny’s death puts a new spotlight on key dividing line between Trump and Biden
▼ + stars: | 2024-02-16 | by ( Kevin Liptak | ) edition.cnn.com time to read: +10 min

“Make no mistake: Putin is responsible for Navalny’s death. A few moments earlier, Secretary of State Antony Blinken linked Navalny’s death directly to Russia’s president. Asked whether Navalny’s death might spur Congress to act in providing more Ukraine aid, Biden was hopeful. Even so, Johnson said in a statement Friday that Putin “is likely directly responsible” for Navalny’s death. “I made it clear to him that I believe the consequences of that would be devastating for Russia,” Biden said in Geneva, where the summit was held.

Persons: Alexey Navalny’s, Vladimir Putin, Joe Biden, Donald Trump, Putin, ” Biden, Roosevelt, “ Putin, ” Trump, Nikki Haley, Fani Willis ’, Trump, Putin’s, Biden, “ It’s, Kamala Harris, Antony Blinken, “, ”, Mike Johnson, Johnson, Putin “, Tucker Carlson, Carlson, Trump’s, ” Haley, Truman, “ Trump, he’d, Navalny, we’re, ” Harris, Harris, Navalny’s, CNN’s Haley Britzky, Lauren Fox, Kate Sullivan Organizations: CNN, White, GOP, Fulton, NATO, Biden, Munich Security Conference, Republican, Republicans, Ukraine, Fox News, South Carolina Gov, South, Putin, Super, Ukraine wavers, “, Trump Locations: Washington, Russia, Fulton County, Georgia, Europe, Moscow, Ukraine, Munich, United States, South Carolina, Michigan , Wisconsin, Pennsylvania, Latvian, Lithuanian, Polish, Geneva, Asia, transatlanticism

☆ China's crashing birthrate will leave millions of teachers jobless in the coming years
▼ + stars: | 2024-02-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

China's birthrate has plunged, with the number of newborns in 2023 falling by 500,000, to about 9 million. AdvertisementDecades of China's one-child policy have created a demographic nightmare for the world's second-largest economy, and millions of school teachers could soon be left without a job as birthrates tumble. If those classes don't scale back, China could see a surplus of 1.5 million primary school teachers and 370,000 middle school teachers by 2035, according to a Tuesday report from the South China Morning Post. Last year marked the second consecutive year that China's population shrank, according to the country's National Bureau of Statistics. Total primary school students, too, declined in 2022 for the first time in a decade.

Persons: China's birthrate, —, it's Organizations: Service, South China Morning, country's National Bureau of Statistics, Education, China National Academy of Educational Sciences, Terry Group, Terry, UN Locations: China, Beijing, Hangzhou

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