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China – which has not condemned Russia’s invasion and claims impartiality in the conflict – has also emerged as a key lifeline for the sanctions-hit Russian economy. In Europe, this has galvanized concerns about China’s own global ambitions and played a role in the European Union’s ongoing push to recalibrate its policy toward China. EU foreign policy chief Josep Borrell reiterated the EU’s “expectation that China refrains from supporting Russia,” in a meeting with Wang Friday. “As long as war in Ukraine continues, EU policies toward China will move into closer alignment with the US. As president, Trump not only voiced skepticism of the system of US alliances in Europe, but leveraged tariffs on European steel and aluminum, sparking retaliatory measures on US goods from Europe.
Persons: Hong Kong CNN —, Wang Yi, Wang, Donald Trump, Trump, ” Wang, Alexey Navalny, Vladimir Putin’s, , , Noah Barkin, Maxym Marusenko, Putin, Xi Jinping, , Jens Stoltenberg, Josep Borrell, Christoph Heusgen, Dmytro Kuleba, Xi, hasn’t, It’s, Kuleba, Vladimir Putin, Xie Huanchi, Yu Jie, , Liu Dongshu, “ Wang Yi, China …, ” Liu, Emmanuel Macron, GMF Organizations: Hong Kong CNN, Munich, Washington, NATO, German Marshall Fund of, Communist Party, Wang Friday, Bloomberg, CNN, China’s, Ministry, , Ukrainian, Security, Beijing, Peace, Getty, ’ Observers, US, Chatham House, City University of Hong, , White Locations: China, Hong Kong, States, Europe, Ukraine, Beijing, Munich, Moscow, Russia, United States, Russian, Ukraine's Kharkiv, West . China, Taiwan, EU, , China’s, Asia, Pacific, ” Beijing, Switzerland, Xinhua, London, Spain, France, City University of Hong Kong’s, Washington, York
That's far less than in the previous years — the share of U.S. dollars in total VC funds raised was around 15% for the years 2018 to 2021, the data showed. China investments, China exitsWashington and Beijing in 2022 resolved a long-standing audit dispute that reduced the risk of Chinese companies having to delist from U.S. stock exchanges. "With U.S. IPOs no longer being a viable exit strategy for China assets, investors should target local exits in their respective capital markets—in other words, China exits for China assets, and U.S. exits for overseas assets," Liao said. The 20 largest VC deals for China-headquartered companies in 2013 were predominantly in e-commerce and software services, according to PitchBook data. ... the venture capital scene has become even more state-concentrated and focused on government priorities.
Persons: China’s renminbi, Athit Perawongmetha, Kyle Stanford, China —, Liao Ming, Stocks, Liao, Didi, Beijing's, Camille Boullenois Organizations: Reuters, Reuters BEIJING — Venture, Liao Ming, U.S, Sequoia, Prospect, Capital, New York Stock Exchange Locations: U.S, Bangkok, Thailand, Reuters BEIJING, China, Sequoia, Washington, India, Japan, Greater China, Beijing, New York, Hong Kong, U.S . Washington
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChina is taking steps to support its economy and stock markets, but there are limits to what can be achieved, said economist Eswar Prasad. Stock markets in China and Hong Kong have accelerated losses into 2024 after shedding trillions of dollars since 2021. "The likelihood of the prediction that China's GDP will one day overtake that of the US is declining," Prasad added to Nikkei. This is because Trump is likely to ratchet up trade protectionism, causing fragmentation in the trade and financial sectors, Prasad told Nikkei.
Persons: , Eswar Prasad, Prasad, China hasn't, Trump, Prasad doesn't, Donald Trump Organizations: Service, Cornell University, International Monetary Fund, Nikkei, Business, Stock, Reuters Locations: China, Hong Kong, Beijing, Asia
China's economy has struggled to regain post-pandemic traction. But Beijing hasn't conceded its economy is in trouble, which could be holding it back from fixing structural issues, says the Rhodium Group. Rhodium Group's researchers aren't quite sure about the rosy narrative of China's economy, calling it a "politicized picture of economic activity." After all, China's economy struggled to regain traction after a brief spurt post-pandemic, disappointing investors. By the second half of the year, confidence had broken down entirely," wrote the Rhodium Group researchers.
Persons: underscoring, Beijing hasn't, , Daniel H, Rosen, Rachel Lietzow, Lietzow, Xi Jinping, haven't Organizations: Stock, Beijing, Service, White, National Economic Council, National Security Council Locations: China, New York, Beijing
Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.
Persons: , Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America
Everything was getting bigger — its cultural influence, geopolitical ambition, population — and seemed poised to continue until the world was remade in China's image. But now China's economy is withering, and the future Beijing imagined is being cut down to size along with it. What Beijing does — or fails to do — to fight this malaise will determine the course of humanity for decades to come. China's deflation worries started in earnest in the summer. Years of overbuilding — by about double the population, according to some estimates — and slowing population growth caused prices to collapse .
Persons: Minxin Pei, there's, Charlene Chu, Autonomous Research Charlene Chu, Chu, Wei Yao, Générale, I'm, Ben Bernanke, Bernanke, Xi Jinping, Xie Huanchi, Société Générale's Yao, Yao, It's, , aren't, Logan Wright, Wright, Xi doesn't, Jinping, it's, Xi, Claremont's Pei, magnanimity Organizations: Claremont McKenna College, Autonomous Research, Federal Reserve, Getty Images Japan, Chinese Communist Party, Xi, CCP Locations: China, Beijing, dauphin, Xinhua, Japan, Xi's China, East Asia, Taiwan, Europe
That pushed Taiwan’s trade surplus with China to an enormous $80.5 billion in 2023. For Taiwan, China has been its favorite investment stop for decades. China imports electronic components or precision machine tools from Taiwan, assembles them and exports the finished products to global markets. China may respond to a DPP victory by putting military and economic pressure on the island, Vest said. In 2022, China retaliated after Pelosi’s visit by banning imports of a range of food products from Taiwan.
Persons: Xi Jinping, Lai Ching, Lai, , Charlie Vest, Nancy Pelosi’s, Tsai Ing, Kevin McCarthy, they’re, ” Vest, Mike Kai Chen, Vest, there’s Organizations: Hong Kong CNN, Communist Party, Democratic Progressive Party, US, Taiwan’s Ministry of Economic Affairs, Imports, Hsinchu Science, Bloomberg, Getty, Capital Economics, Taiwan Semiconductor Manufacturing Company, Apple, Foxconn, Analysts, Atlantic Locations: China, Hong Kong, Taiwan, Beijing, Taiwan Strait, California, United States, Europe, Japan, South Korea, “ Taiwan, Hsinchu, Hsinchu Science Park
Carbon emissions shrank in 2023 even as the economy grew, a sign the U.S. is plodding toward a more sustainable future. "This is the first time since 2019 that the economy has grown while emissions have fallen," said Ben King, an associate director leading the Rhodium Group energy team. U.S emissions fell sharply in 2020 during the coronavirus pandemic, when activities were restricted, and then rebounded in the two years that followed. The Biden administration, which rejoined the Paris Climate Agreement in 2021, said it would target emission cuts of 50% to 52% by 2030. The power and buildings sectors were responsible for the 2023 emissions decline, according to the Rhodium analysis.
Persons: Ben King, Biden, King, Joe Biden's Organizations: U.S, Stockholm Environment Institute, EV, U.S . Locations: Los Angeles, Los Angeles , California, Paris, Stockholm, Greenland, West Antarctica, East Antarctica, U.S
Using micro-order uniform powder alloys with unprecedented chemical properties opens up new possibilities for manufacturing that have never been seen before, such as in 3D printing and the use of paste-like inks. A high-entropy alloy powder of precious metals can potentially be used as a raw material for automotive exhaust gas sensors, resistors, and water electrolysis catalysts. Creating new value through exhaustive studyTANAKA began working on high-entropy alloy powders in response to the world's rapid development. TANAKAHosoi noticed that high-entropy alloys have recently been attracting international attention, largely due to their potential for unprecedented properties. Click here for more information on high-entropy alloy powders.
Persons: Tanaka Kikinzoku Kogyo, TANAKA, Takuya Hosoi, Yoshie Kondo, Hosoi, TANAKA Hosoi, Hosai Organizations: Tanaka Kikinzoku Kogyo KK, Metals, Insider Locations: Japan
To tackle dangerous global warming, countries have started to clean up their power plants and cars. That’s one big takeaway from a new, detailed forecast of global greenhouse gas emissions published Thursday by the Rhodium Group, a research firm. Overall, the report estimates that the world is currently on track to heat up roughly 2.8 degrees Celsius, or 5 degrees Fahrenheit, above preindustrial levels by 2100. Many world leaders and scientists consider that much warming to be perilous. Trying to predict emissions so far out in the future is inherently difficult, but the forecast offers a rough guide to where countries appear poised to make progress on climate change in the years ahead — and where they are still struggling.
[1/6] Chinese Premier Li Qiang speaks at the opening ceremony of the first China International Supply Chain Expo (CISCE) in Beijing, China November 28, 2023. REUTERS/Florence Lo Acquire Licensing RightsBEIJING, Nov 28 (Reuters) - China opposes the cutting of supply chains and is willing to build closer ties with all, Premier Li Qiang said on Tuesday, as a growing number of countries voice concerns at the dependence of their supply chains on China. Speaking at China's first ever China International Supply Chain Expo (CISCE), Li said that China will continue to create an international and rule of law-based business environment. The expo, organised by the state-run China Council for the Promotion of International Trade, is Beijing's latest bid to increase foreign investment in China, which has dropped to historic lows. Reporting by Eduardo Baptista and Joe Cash; Editing by Jamie Freed and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
Persons: Li Qiang, Florence Lo, Li, Eduardo Baptista, Joe Cash, Jamie Freed, Miral Organizations: China International, Chain, REUTERS, Rights, China, China Council, Promotion of International Trade, European Union, Thomson Locations: Beijing, China, Rights BEIJING, United States, Ukraine, Taiwan, India, Mexico, Vietnam
[1/6] Chinese Premier Li Qiang speaks at the opening ceremony of the first China International Supply Chain Expo (CISCE) in Beijing, China November 28, 2023. "We are willing to build closer production and industrial supply chain partnerships with all countries," Li told the first China International Supply Chain Expo (CISCE), adding that the international community needs to be "more wary of the challenges and risks brought about by protectionism and uncontrolled globalisation." The expo, organised by the state-run China Council for the Promotion of International Trade (CCPIT), is Beijing's latest bid to increase foreign investment in China, which has dropped to historic lows. Despite this decrease, China remains an attractive option: a survey conducted by HSBC bank at the China International Import Expo (CIIE) earlier this month showed 45% of firms expect to expand their supply chain in China over the next year. Zhang Shaogang, a CCPIT official who was part of the Chinese delegation at the APEC summit, said last week that 20% of the foreign firms exhibiting at the supply chain expo were U.S.-based, and included Amazon (AMZN.O), Apple (AAPL.O), Tesla (TSLA.O), and Intel (INTC.O).
Persons: Li Qiang, Florence Lo, Premier Li Qiang, Li, Dan Marks, Xi Jinping, Joe Biden, Zhang Shaogang, Zhang, Eduardo Baptista, Joe Cash, Jamie Freed, Miral Organizations: China International, Chain, REUTERS, Premier, European Union, China Council, Promotion of International Trade, HSBC, China, Royal United Services, Economic Cooperation, APEC, Apple, Intel, Thomson Locations: Beijing, China, EU, BEIJING, United States, Ukraine, Taiwan, India, Mexico, Vietnam, U.S, Asia
BEIJING (Reuters) - China opposes the cutting of supply chains and is willing to build closer ties with all, Premier Li Qiang said on Tuesday, as a growing number of countries voice concerns at the dependence of their supply chains on China. Speaking at China's first ever China International Supply Chain Expo (CISCE), Li said that China will continue to create an international and rule of law-based business environment. The expo, organised by the state-run China Council for the Promotion of International Trade, is Beijing's latest bid to increase foreign investment in China, which has dropped to historic lows. Li's speech comes amid calls over the past year from the United States and the European Union to "de-risk" their supply chains and reduce overdependence on China in certain sectors, as well as efforts to cut off Chinese enterprises from some advanced semiconductors. (Reporting by Eduardo Baptista and Joe Cash; Editing by Jamie Freed and Miral Fahmy)
Persons: Li Qiang, Li, Eduardo Baptista, Joe Cash, Jamie Freed, Miral Organizations: China, Chain, China Council, Promotion of International Trade, European Union Locations: BEIJING, China, United States, Ukraine, Taiwan, India, Mexico, Vietnam
U.S. President Joe Biden and China’s Xi Jinping, who met in San Francisco on Wednesday, may disagree on the terminology. Barely half the manufactured goods imported into the United States from low-cost Asian countries now come from China. Chinese firms have raised just $529 million from initial and secondary stock offerings in the United States in the year to mid-October. But the conscious decoupling between the U.S. and China looks set to continue. Follow @ugalani and @a_fitri_alias on XCONTEXT NEWSU.S. President Joe Biden and Chinese President Xi Jinping met on Nov. 15 in San Francisco on the sidelines of the Asia-Pacific Economic Cooperation forum.
Persons: Xi, Joe Biden, Kevin Lamarque, friendshoring, China’s Xi Jinping, Breakingviews, Donald Trump, China’s ByteDance, Reuters Graphics Reuters Graphics Goldman Sachs, Xi Jinping, Una, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: U.S, Economic Cooperation, REUTERS, Rights, Reuters, People’s Republic . U.S, People’s, World Trade Organization, Reuters Graphics Reuters, FRAYING FINANCE, U.S . Federal Reserve, Federal, Investment Board, HK, Republican, Reuters Graphics Apple, United, Reuters Graphics Reuters Graphics, Thomson Locations: Filoli, Asia, Woodside , California, U.S, Rights MUMBAI, United States, China, Washington, People’s Republic ., San Francisco, People’s Republic, Southeast Asia, Hong Kong, That’s, New York, Greater China, India, TAIWAN, Taiwan, Una Galani, Mumbai, London
Platinum is used to make the electrolyzers that produce hydrogen and the sharp down cycle in South Africa’s platinum mining sector demonstrates the risk that low prices and lack of investment could slow the energy transition. Prices for other commodities have also fallen, while miners have been complaining of rising costs and seem to be limiting their capital expenditures. Photo: michele spatari/Agence France-Presse/Getty ImagesFor the mining sector, cyclical returns are nothing new. Ray said many South African PGM miners are now selling their output at close to the cost of production, eating away at profitability. “To the extent that PGM prices stay at current levels, I would not be surprised to see more supply-side reaction,” Ray said.
Persons: Waldo Swiegers, , Tom Price, michele spatari, We’ve, ” Emma Townshend, ” Townshend, Raj Ray, Ray, ” Ray, ” Implats’s Townshend, Implats, Yusuf Khan Organizations: Bloomberg, Liberum, Agence France, PGM, Times, Business, BMO Capital Markets, Metals Locations: Sibanye, Africa, Johannesburg, Stillwater, South, South Africa, Marikana, U.S, China, Europe, Implats
One morning in September, a truck disgorged its load of pulverized rock with a resounding bang inside Stillwater Mining’s metallurgical plant north of Yellowstone National Park. The mined ore contains platinum, palladium and rhodium, three of the earth’s rarest, most expensive metals — and vital components in the millions of catalytic converters that reduce polluting emissions from gasoline-powered vehicles. At the opposite end of the plant was another batch of metal, not from the mine but from used catalytic converters ground into powder for recycling. The new and the old metals would later be blended under intense heat, then shipped to a refinery. Recycling catalytic converters costs less than mining the ore.
Locations: Yellowstone, Stillwater
Hong Kong CNN —Diversification away from China is increasing, and it doesn’t just affect foreign companies, according to HSBC CEO Noel Quinn. HSBC (HSBC) is the world’s largest trade finance bank, with a focus on Asia, meaning it helps importers and exporters carry out transactions. For decades, China has enjoyed rapid economic growth thanks to its status as a global trade and manufacturing powerhouse. So its supply chains and its supply to the world is going to change over the next 10 to 15 years,” noted Quinn. De-risking, meanwhile, may be harder to detect, as “there is no single economic data series that can effectively capture companies’ decisions to intentionally reduce their real economic exposure to China,” according to the report.
Persons: Noel Quinn, Quinn, ” Quinn, , Organizations: Hong Kong CNN, HSBC, Bloomberg Locations: China, Hong Kong, Singapore, Asia, Vietnam, India
[1/2] Performers dance to welcome Vietnam's President Vo Van Thuong at Beijing Capital International Airport ahead of the Third Belt and Road Forum in Beijing, China, October 17, 2023. The conciliatory approach towards rivals as well as China's partners in the developing world comes as President Xi Jinping gets to grips with the most significant domestic economic problems seen in years. China has not changed its tone on every issue. It has not backed away from escalating maritime confrontation with the Philippines in the South China Sea. Stabilizing the U.S. relationship, including with a meeting between Xi and U.S. President Joe Biden at an upcoming Asia- Pacific summit, could give China breathing room.
Persons: Vo Van Thuong, Parker, Biden, Xi Jinping, Noah Barkin, Barkin, Cheng Lei, Xi, Chuck Schumer, Willy Lam, Huiyao Wang, Qin Gang, Li Shangfu, Joe Biden, Donald Trump, Zack Cooper, Don Durfee, Robert Birsel Organizations: Beijing Capital International, Forum, U.S, Initiative, Jamestown Foundation, for, Marshall, American Enterprise Institute, Washington, Thomson Locations: Beijing, China, San Francisco China, HONG KONG, WASHINGTON, Sri Lanka, United States, Asia, Europe, Australia, U.S, Zambia, Philippines, South China, Africa, for China
China News Service | China News Service | Getty ImagesBEIJING — Chinese authorities are signaling a softer stance on once-stringent data rules, among recent moves to ease regulation for business, especially foreign ones. But foreign businesses have found it difficult to comply — if not operate — due to vague wording on terms such as "important data." The country's top executive body, the State Council, in August revealed a 24-point plan for supporting foreign business operations in the country. The text included a call to reduce the frequency of random inspections for companies with low credit risk, and promoting data flows with "green channels" for certain foreign businesses. When U.S. Commerce Secretary Gina Raimondo visited China in August, she called for more action to improve predictability for U.S. businesses in China.
Persons: Reva Goujon, Goujon, Gabriel Wildau, Gina Raimondo, Martin Chorzempa, Samm Sacks, Yale Law School Paul, Chorzempa, Sacks, Beijing's Organizations: China News Service, Getty, Cyberspace Administration of China, Government, European Union Chamber of Commerce, CNBC, EU, State, China Corporate, CAC, State Council, Commerce, Peterson Institute for International Economics, Yale Law School, Yale Law School Paul Tsai China Center and New, Baidu Locations: Chongqing, BEIJING, China, Beijing, Covid, U.S, Yale Law School Paul Tsai China Center and New America
Green energy’s tailwinds blow the other way
  + stars: | 2023-09-22 | by ( Peter Thal Larsen | ) www.reuters.com   time to read: +7 min
Falling costs, cheap capital and supportive politicians helped propel a headlong rush into renewable power. As relations with China deteriorate, the United States and Europe are increasingly concerned about the country’s grip on parts of the green energy supply chain. In recent roundtable discussions moderated by Breakingviews on both sides of the Atlantic, participants expressed optimism about the momentum of investment in green energy. The IRA has unleashed a green energy boom. The world can ill afford to relax its embrace of green power.
Persons: Rishi Sunak, , Joe Biden’s, Jared Cohen, Goldman Sachs, Breakingviews, carmaker Ford, Rishi Sunak’s, Pennsylvania’s Penn, George Hay, Sharon Lam, Aditya Sriwatsav Organizations: Britain's, Downing, Reuters, Global, International Energy Agency, International Renewable Energy Agency, Energy, Commission, Applied Innovation, Goldman, Amperex Technology, Companies, British, MIT’s Center for Energy, Environmental, Research, University, Pennsylvania’s, Thomson Locations: London, Ukraine, U.S, China, United States, Europe, People’s Republic, Vietnam, Mexico
The zoo is run by the local government, which was said to be running out of money and therefore unable to feed its charges. These vehicles are legal entities created by Chinese cities to circumvent borrowing restrictions imposed by the central government in Beijing. “Why hurt small businesses which are the weakest?”Noodle sellers in Shanghai have been fined for adding cucumber to their dishes. Last year, Beijing issued a directive forbidding local governments from imposing “arbitrary fines” to generate income, and dispatched inspection teams to check that the policy was being followed. The scale of financial stress among China’s local governments is so big that “creative” sources of income can only cover a relatively small shortfall, he said.
Persons: hadn’t, Xi Jinping’s, , Willy Lam, Lam, , Aly Song, Jiemian, Logan Wright, hasn’t, Li Qiang, Steve Tsang, Joseph Cheng, , Martha Zhou Organizations: Hong Kong CNN, Species Fund, CNN Local, China Newsweek, ” CNN, China National Radio, Washington, Jamestown Foundation, CNN, , Weibo, , SOAS China, SOAS University of London, City University of Hong Locations: China, Hong Kong, Dongshan, Liaoning, Beijing, Shanghai, Henan, Huizhou, Nanchang, Qingdao, City University of Hong Kong
Even after the ending of COVID curbs, which weighed heavily on both revenues and sentiment in 2022, the percentage of surveyed U.S. firms optimistic about the five-year China business outlook fell to 52%, according to the annual survey published by American Chamber of Commerce (AmCham) in Shanghai. This was the lowest level of optimism reported since the AmCham Shanghai Annual China Business Report was first introduced in 1999. "Frankly, if there was one thing that surprised me about the survey this year it was that number," said AmCham Shanghai Chairman, Sean Stein. China has criticised U.S. efforts to block China's access to advanced technology and U.S. firms have expressed concern about fines, raids and other actions that make doing business in China risky. Last month, U.S. Commerce Secretary Gina Raimondo said during a visit to China that U.S. companies have complained to her that China has become "uninvestible".
Persons: Dado Ruvic, Sean Stein, Gina Raimondo, AmCham's Stein, Casey Hall, Alex Richardson Organizations: REUTERS, Rights, American Chamber of Commerce, Shanghai, U.S, Companies, . Commerce, Group, Thomson Locations: China, U.S, Shanghai, Southeast Asia, India, Mexico, Vietnam, Malaysia
This would in turn secure regional supply chains, boost trade connectivity and economic activity — all similar to objectives underpinning China's Belt and Road Initiative, a global infrastructure investment strategy that Beijing launched in 2013. - | Afp | Getty ImagesThis Biden-led initiative will comprise of two separate corridors, the east corridor connecting India to the Middle East and the northern corridor connecting the Middle East to Europe. Middle East influenceChina's BRI offers a glimpse into Biden's ambition and perhaps what his infrastructure pact will come up against. Debt risksEven then, China's 10-year head start offers some cautionary lessons for Biden's global infrastructure pact. "25% of debt of emerging markets is treading in distressed territory," IMF's Managing Director Kristalina Georgieva told CNBC on the sidelines of the Delhi G20 leaders' summit.
Persons: Crown Prince, Mohammed bin Salman, Narendra Modi, Joe Biden, Ludovic Marin, Recep Tayyip Erdoğan, Evan Feigenbaum, Emmanuel Macron, Joko Widodo, Luiz Inacio Lula da Silva, Gandhi, Biden, China's BRI, Beijing's BRI, Chong Ja Ian, Kristalina Georgieva, Janet Yellen, Chong, Modi Organizations: Saudi, Crown, India's, Bharat, Afp, Getty, Biden, Initiative, Carnegie Endowment, International, Brazil's, European Union, Democratic, Fudan University, for Economics, Business Research, Arab, United Arab, Bloomberg, IMF, National University of Singapore, Monetary Fund, World Bank, CNBC, Treasury, NUS, India, Shanghai Cooperation Organization Locations: New Delhi, Turkey, Delhi —, Beijing, U.S, Raj, India, East, Europe, UAE, Saudi Arabia, Jordan, Israel, Delhi, Democratic Republic of, Congo, Zambia, Lobito, Angola, Middle, Shanghai, London, China, United Arab Emirates, Washington, Saudi, Iran, People's Republic of China, New York, United States
If President Biden wins a second term, his climate policies would take aim at steel and cement plants, factories and oil refineries — heavily polluting industries that have never before had to rein in their heat-trapping greenhouse gases. New controls on industrial facilities, which his advisers have begun to map out and described in recent interviews, could combine with actions taken on power plants and vehicles during his first term to help meet the president’s goal of eliminating fossil fuel pollution by 2050, analysts said. Industrialized nations must hit that target if the world has any hope to avoid the most catastrophic impacts from climate change, according to scientists. But talking about more regulations at the start of what promises to be a bruising election cycle is perilous, strategists said. In particular, the prospect of new mandates from Washington regarding steel and cement, the bedrock materials of American construction, could sour the swing-state union workers courted by Mr. Biden.
Persons: Biden, , John Larsen, Mr . Biden Organizations: White Locations: Washington
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
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