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July 17, 2024, 9 p.m.
Designer Fashion Houses Are Struggling In The First Half Of 2024—Here's Why
Designer Fashion Houses Are Struggling In The First Half Of 2024—Here's Why
['luxury', 'sales', 'earnings', 'Burberry', 'last']

The luxury market is struggling with plunging China sales.

Designer Fashion Houses Are Struggling In The First Half Of 2024—Here's Why

Burberry, Hugo Boss, Swatch Group and Richemont kicked off the first week of second-quarter earnings for the luxury fashion market with disappointing news for investors ahead of next week's highly anticipated results from Kering, LVMH and Hermes, as luxury brands struggle to cope with declining sales in Asia. A similar story played out in the preliminary earnings of Cartier parent Richemont, which has had a 27% drop in China sales this year, and the Swatch Group-which owns Omega, Tissot, Longines and more-which reported an 11% decline in sales overall this year and significant declines in China sales. Gucci parent Kering and LVMH earnings will come July 23, while Hermes earnings are to come July 25. The luxury sector has largely relied on China-which was responsible for almost 16% of global luxury spending last year-where luxury goods consumption doubled from 2008 to 2014. Last November, luxury fashion companies like Burberry and Richemont experienced a flood of returns and exchanges during China's biggest shopping festival, and luxury return rates in China have risen to around 50% this year, far surpassing the luxury industry average of 30%, according to Bloomberg. Last month, Chinese retailers of luxury brands marked down product prices up to 50% to fight the diminishing consumer appetite in China. In the past months, the luxury sector has lost $2o0 billion in value, with LVMH taking the biggest hit, according to Reuters.

July 17, 2024, 8:21 p.m.
A Trump Administration Could Mean Higher Tariffs for Footwear
A Trump Administration Could Mean Higher Tariffs for Footwear
['shoe', 'imports', 'tariff', 'Priest', 'Footwear']

Footwear importers already pay high tariffs on shoes, but that could increase if Donald Trump wins the presidential elections in November.

A Trump Administration Could Mean Higher Tariffs for Footwear

Trump has said that if he wins the November presidential election, he might impose a 60 percent tariff on all goods imported from China and a general 10 percent tariff on all other imported goods. "That idea is obviously driving a lot of interest from our members about how to bring in product maybe prior to these decisions being made to push up duties," said Matt Priest, the president and chief executive of the Footwear Distributors and Retailers of America, which represents some 500 footwear companies. With the U.S. footwear industry bringing in 2.5 billion shoes a year, it already pays $4 billion a year in tariffs. "We are the poster child of how tariffs did not keep domestic production in place," Priest said. If Trump does win the election, Priest is prepared to lobby for lower tariffs on Chinese-made shoes. In the end, it is the consumer who pays for tariffs with increased footwear prices. Still, footwear manufacturers are anticipating a strong holiday season, bringing in goods a little earlier than normal to avoid higher shipping rates and not being surprised by unexpected seasonal spikes seen in previous years.

July 17, 2024, 7:45 p.m.
China's Pirate Site Crackdown is Real & Assisted By Anime Anti-Piracy Group
China's Pirate Site Crackdown is Real & Assisted By Anime Anti-Piracy Group
['report', 'pirate', 'movie', 'website', 'CODA']

An interesting and patient strategy deployed by Japan-based anti-piracy group CODA, continues to bear fruit in China. After playing a key role in the recent landmark sentences handed down to the operators of a major anime piracy site, CODA is now reporting th…

China's Pirate Site Crackdown is Real & Assisted By Anime Anti-Piracy Group

Early March we reported on the work of Japan-based anti-piracy group CODA. After formulating an impressive strategy and demonstrating significant patience, the company now benefits from having its own office in Beijing. From there, big things are playing out, including collaboration with Chinese authorities which led to three people behind pirate anime site B9Good being convicted earlier this year. "The searches revealed that a subscription-style website called Shenlan had been established and operated, which copied a large amount of Japanese content, mainly anime, without permission from the rights holders, and uploaded it to a personal media server, which is a legal service, to enable streaming playback from various devices," the anti-piracy group reports. In contrast to reports implying a lax approach to infringement, Chinese authorities seem remarkably busy when it comes to prosecuting operators of pirate sites. An article published on a government website late February, titled: "I just wanted to release pirated movies to earn some advertising fees, but I didn't expect to be convicted and sentenced" tells the story of a person identified as 'Ke' who chose piracy as an easy way to make money. A February 2024 report in local media is just one of many detailing the prosecution of pirate site operators in China. As recently as this April, authorities were reporting another crackdown against sites illegally offering Spring Festival films, plus an additional 200,000 movies and TV shows obtained from various platforms.

July 17, 2024, 7:25 p.m.
US To Issue Proposed Rules Limiting Chinese Vehicle Software in August
US To Issue Proposed Rules Limiting Chinese Vehicle Software in August
['people', 'trade', 'Chinese', 'restaurant', 'market']

The U.S. Commerce Department plans to issue proposed rules on connected vehicles next month and expects to impose limits on some software made in China and other countries deemed adversaries, a senior official said Tuesday. From a report: "We're looking at a …

US To Issue Proposed Rules Limiting Chinese Vehicle Software in August

Their entire government is opposed to fair competition since they do not allow the people to communicate freely to even know of what might be a better product or idea. I feel a need to make a distinction between the Chinese people and the Chinese government. I have a problem with the Chinese government, the few people at the top that keep the majority of the nation from living and learning as humans should, doing so by maintaining a monopoly on force and information. I'll see people try to make the USA the "Bad guy" for not trading with communist nations, that somehow by restricting trade us Americans are the cause of their poverty. Presumably if enough people think similarly of the restaurant then it will go out of business, and that's kind of the point since we want to reward good behavior but not necessarily punish bad behavior. I get fed and the other party has $20 that they can trade further for some beef and buns, or whatever, to feed more people later and make even more people better off than they were before. In a not-so-free market like China people are left in perpetual poverty because the government is taking from people and destroying that wealth with corruption and brutality.

July 17, 2024, 6:59 p.m.
China Is Running Circles Around American Solar Panel Makers Despite Biden Admin Subsidies And Tariffs
China Is Running Circles Around American Solar Panel Makers Despite Biden Admin Subsidies And Tariffs
['solar', 'manufacturer', 'Chinese', 'us', 'company']

'We're just asking for legitimate U.S. manufacturers to have a chance to compete'

China Is Running Circles Around American Solar Panel Makers Despite Biden Admin Subsidies And Tariffs

Chinese companies are dominating U.S. solar production despite tariffs and subsidies from the Biden Administration, according to a recent investigation from Reuters. A minimum of 20 gigawatts' worth of annual solar panel production - enough to supply half the American market - will come from Chinese manufacturers operating in the United States within the next year, according to Reuters. China's superiority in solar manufacturing combined with its government's heavy subsidization of input materials like raw polysilicon and unfinished solar modules makes it difficult for U.S. companies to compete, despite U.S. tariffs, Inflation Reduction Act subsides and restrictions on Chinese products tied to forced labor. As a result, U.S.-owned solar businesses have begun seeking additional tariffs on solar imports, according to Reuters. Even if the Biden administration grants these additional tariffs, they are unlikely to affect the U.S. solar market anytime soon due to a glut of low-cost Chinese solar panels imported into the U.S. during a Biden-forced moratorium on solar tariffs in 2022 and 2023. The surge in solar panel imports during the "Tariff holiday" - a record amount of solar capacity entered the U.S. in 2023 - caused panel prices to fall 50%, according to S&P Global, the New York Times, and Reuters. This is exemplified by Illuminate USA - a joint partnership between Chicago-based green energy investor Invenergy and China's largest solar company LONGi - which is slated to receive $350 million each year in federal subsidies via the IRA. Altogether, Chinese-owned businesses could reap $1.4 billion worth of subsidies from the IRA each year via joint partnerships with American businesses like Illuminate USA. The White House did not immediately respond to a request for comment.

July 17, 2024, 6:50 p.m.
China suspends arms control talks with US; Blames Washington for supplying arms to Taiwan
China suspends arms control talks with US; Blames Washington for supplying arms to Taiwan
['China', 'arms', 'Taiwan', 'talks', 'Washington']

Beijing, Jul 17 (PTI) China on Wednesday said it has suspended the crucial arms control and non-proliferation talks with the US, accusing Washington of continuing arms sales to Taiwan. Announcing this, Chinese Foreign Ministry Spokesman Lin Jian said the US c…

China suspends arms control talks with US; Blames Washington for supplying arms to Taiwan

Beijing, Jul 17 China on Wednesday said it has suspended the crucial arms control and non-proliferation talks with the US, accusing Washington of continuing arms sales to Taiwan. "China has decided to suspend talks with the US on holding a new round of arms control and non-proliferation consultations," Lin told a media briefing here. China was willing to maintain communication with the US on the issue but only on the condition that "The US must respect China's core interests and create the necessary conditions for dialogue and exchange between the two sides", he said. China and the US resumed their talks on arms control and nuclear non-proliferation less than a year ago following the end of COVID restrictions. In addition to Taiwan tensions over trade, the South China Sea, and technology also reportedly made China call off the crucial talks. The US in recent years kept up its high-tech arms sales to Taiwan ignoring Beijing's repeated objections as successive American administrations backed Taiwan's autonomous status though Washington is committed to the One China policy. The US passed a USD 95 billion foreign aid package in April which included arms supplies to Taiwan.

July 17, 2024, 6:49 p.m.
As Trump odds rise, China's economic dominance is beginning to wane
As Trump odds rise, China's economic dominance is beginning to wane
['China', 'Chinese', 'Trump', 'report', 'tariffs']

A Chinese media outlet, the South China Morning Post, reported Wednesday that China is preparing to "batten down the hatches" after the assassination attempt on former President Donald Trump appears to have increased his chances of winning the 2024 presidenti…

As Trump odds rise, China's economic dominance is beginning to wane

A Chinese media outlet, the South China Morning Post, reported Wednesday that China is preparing to "Batten down the hatches" after the assassination attempt on former President Donald Trump appears to have increased his chances of winning the 2024 presidential election. A researcher with the China Institutes of Contemporary International Relations, Chen Fengying, told the South China Morning Post that while there is a burgeoning trade war on the horizon, China is already working on plans to adapt if Trump once again takes the Oval Office. Since the tariffs were imposed by the Trump administration in 2018, China has been forced elsewhere to do business, branching into markets like the Middle East. The formation of BRICS - the multinational alliance where China sits as one of the top players, has also helped China keep afloat as it dealt with U.S. tariffs. Time further reported the slowdown of China's economy would be a positive for the U.S., because it would "Drag down" oil prices, and deflation in China would mean lower prices on the country's exports. Fast forward to this week, when CNBC reported that China's second-quarter growth was less than expected, sitting at a growth rate of 4.7%. This had steeply declined from the year's first-quarter of 5.3%. The National Bureau of Statistics of China said in a statement the demand for domestic goods in China is insufficient and recovery needs to be strengthened. Frenzied knife attacks are very common in China, the government doesn't want the world to know because they're the ones always pointing to violent crime in other countries as a reason why China is Superior, pretending it doesn't exist.

July 17, 2024, 6:22 p.m.
'Washington sending arms to Taiwan': China halts arms control talks with US
'Washington sending arms to Taiwan': China halts arms control talks with US
['China', 'arms', 'Taiwan', 'talks', 'Washington']

China on Wednesday said it has suspended the crucial arms control and non-proliferation talks with the US, accusing Washington of continuing arms sales to Taiwan. Announcing this, Chinese Foreign Ministry Spokesman Lin Jian said the US continued sales of weap…

'Washington sending arms to Taiwan': China halts arms control talks with US

China on Wednesday said it has suspended the crucial arms control and non-proliferation talks with the US, accusing Washington of continuing arms sales to Taiwan. China has decided to suspend talks with the US on holding a new round of arms control and non-proliferation consultations, Lin told a media briefing here. China was willing to maintain communication with the US on the issue but only on the condition that the US must respect China's core interests and create the necessary conditions for dialogue and exchange between the two sides, he said. China and the US resumed their talks on arms control and nuclear non-proliferation less than a year ago following the end of COVID restrictions. In addition to Taiwan tensions over trade, the South China Sea, and technology also reportedly made China call off the crucial talks. The US in recent years kept up its high-tech arms sales to Taiwan ignoring Beijing's repeated objections as successive American administrations backed Taiwan's autonomous status though Washington is committed to the One China policy. The US passed a USD 95 billion foreign aid package in April which included arms supplies to Taiwan.

July 17, 2024, 5:04 p.m.
U.S. to propose rules limiting vehicle software made in China
U.S. to propose rules limiting vehicle software made in China
['vehicle', 'car', 'software', 'Chinese', 'administration']

Filed under: Government/Legal,Ownership,Parts and Accessories,Technology,Emerging Technologies Continue reading U.S. to propose rules limiting vehicle software made in China U.S. to propose rules limiting vehicle software made in China originally appeared o…

U.S. to propose rules limiting vehicle software made in China

The U.S. Commerce Department plans to issue proposed rules on connected vehicles next month and expects to impose limits on some software made in China and other countries deemed adversaries, a senior official said Tuesday. "We're looking at a few components and some software - not the whole car - but it would be some of the key driver components of the vehicle that manage the software and manage the data around that car that would have to be made in an allied country," said export controls chief Alan Estevez at a forum in Colorado. In May, Commerce Secretary Gina Raimondo said her department planned to issue proposed rules on Chinese-connected vehicles this autumn and had said the Biden administration could take "Extreme action" and ban Chinese-connected vehicles or impose restrictions on them after the Biden administration in February launched a probe into whether Chinese vehicle imports posed national security risks. Connected cars have onboard integrated network hardware that allows internet access, allowing them to share data with devices both inside and outside the vehicle. "A car is a very scary thing. Your car knows a lot about you. Your car probably gets a software update, whether it's an electric vehicle or an autonomous combustion engine vehicle," he said. "A modern car has a lot of software in it. It's taking lots of pictures. It has a drive system. It's connected to your phone. It knows who you call. It knows where you go. It knows a lot about you." Raimondo said in May "You can imagine the most catastrophic outcome theoretically if you had a couple million cars on the road and the software were disabled."

July 17, 2024, 4:56 p.m.
Chinese Diaspora Voices Fight Harassment and Find Room for Expression
Chinese Diaspora Voices Fight Harassment and Find Room for Expression
['Chinese', 'China', 'Party', 'new', 'more']

As the room for expression in China continues to shrink under Xi Jinping, many Chinese people are finding more tolerant political environments abroad. Some disenchanted Chinese citizens have made the difficult decision to “run,” embarking on perilous journeys…

Chinese Diaspora Voices Fight Harassment and Find Room for Expression

As the room for expression in China continues to shrink under Xi Jinping, many Chinese people are finding more tolerant political environments abroad. Some disenchanted Chinese citizens have made the difficult decision to "Run," embarking on perilous journeys in pursuit of better lives. In exile in Europe, Xia, who sports Goth-style makeup and outfits, has become an outspoken critic of the Communist Party's totalitarian rule, part of a growing Chinese diaspora of young activists as the space for expression in China itself narrows. "A lot of the more nationalistic form of overseas Chinese students organizing is less about their support for the Chinese Party state but more about an affirmation of their own Chinese identity when they feel quite alienated in a foreign country," Yangyang Cheng, a law scholar at Yale, told me. A news account for "Dignified Chinese-language cultural life" is aptly called Dasheng, which means "a loud voice"; a new zine, "Mangmang"-an archaic term that describes the unfettered growth of wild grass in a field-advertises the slogan "An independent Chinese magazine without censorship"; a labor-organizing advocacy account uses the name Dagongren, a term that has historically referred to low-wage work, to foster solidarity between manual laborers and office workers. New York City was Deng's initial destination when settling his family in the United States, though concerns over affordable housing led him to a Camden County community with a large and welcoming Chinese diaspora. Isabelle Attané and Giovanna Merli recently published a study quantifying the diversity of Chinese immigrants living and working in France, and concluded that Chinese immigrants "Display wide-ranging profiles, social networks, and diverse pathways towards integration into French society." But as more Chinese people move abroad in search of greater freedom and better opportunities, the CCP has also attempted to leverage this migration for its own geopolitical interests. In interviews, Chinese student party members in New York, Boston, California and Washington told the FT they followed the requests from party cells in China as they were keen to maintain their membership, which they saw as an asset for their career development.

July 17, 2024, 4:38 p.m.
Donald Trump thinks Taiwan should pay for US defense, says it took America's chip business
Donald Trump thinks Taiwan should pay for US defense, says it took America's chip business
['Taiwan', 'chip', 'TSMC', 'Trump', 'took']

Speaking in an interview with Bloomberg Businessweek conducted before the weekend's assassination attempt, Trump was asked if he would defend Taiwan from an invasion by China, something that seems increasingly likely, especially as President Xi Jinping has sa…

Donald Trump thinks Taiwan should pay for US defense, says it took America's chip business

A hot potato: The United States' relationship with Taiwan could come under strain should Donald Trump be elected president for a second time. The former POTUS believes the island should pay the US for defense, while also claiming that Taiwan took America's chip business and made itself rich in the process. "Taiwan should pay us for defense," Trump said. Trump also claimed that Taiwan took America's chip industry. "Taiwan took our chip business from us, I mean, how stupid are we? They took all of our chip business. They're immensely wealthy." The Taiwan Relations Act requires the US to "Provide Taiwan with arms of a defensive character" and "To maintain the capacity of the United States to resist any resort to force or other forms of coercion that would jeopardize the security, or the social or economic system, of the people on Taiwan." Responding to Trump's statement, Taiwanese Premier Cho Jun-tai said that Taiwan and the US maintain a good relationship, but the island is willing to take on more responsibility to defend itself and has strengthened its defense budget.

July 17, 2024, 4:14 p.m.
China suspends arms control talks with Washington
China suspends arms control talks with Washington
['China', 'arms', 'Taiwan', 'sale', 'US']

Beijing has frozen nuclear negotiations with the US, blaming the American side for souring relations Read Full Article at RT.com

China suspends arms control talks with Washington

China has frozen arms control talks with the US in response to Washington's continued weapons sales to Taiwan, the Chinese Foreign Ministry has said. The US and China held a long-awaited round of nuclear non-proliferation talks in November, the first such meeting since 2018. Speaking at a press conference in Beijing on Wednesday, Chinese Foreign Ministry spokesman Lin Jian said that China would not discuss a new round of consultations with the US. "The responsibility fully lies with the US," Lin explained. "Over the past weeks and months, despite China's firm opposition and repeated protest, the US has continued to sell arms to Taiwan and done things that severely undermine China's core interests and the mutual trust between China and the US.". China considers Taiwan a part of its sovereign territory, a position referred to as the 'One China' principle. Beijing views American arms sales to Taipei, expressions of support for Taiwanese independence, and pledges of military assistance to Taiwan as violations of the 'One China' principle. "China stands ready to maintain communication with the US on international arms control but the US must respect China's core interests and create necessary conditions for dialogue and exchange," he said at Wednesday's briefing.

July 17, 2024, 3:29 p.m.
China VPN redux
China VPN redux
['VPN', 'professor', 'Chinese', 'China', 'world']

Chapter 1 A professor in China who is collaborating with a famous American professor of Chinese literature wanted to read one of my Language Log (LL) posts because he had heard that it's being widely discussed around the world.  However, because of China's ri…

China VPN redux

A professor in China who is collaborating with a famous American professor of Chinese literature wanted to read one of my Language Log posts because he had heard that it's being widely discussed around the world. The Chinese professor asked the American professor to help him gain access to my post. The American professor asked me to help the Chinese professor. I suggested to the Chinese professor to use a VPN. Without a VPN, Chinese are not able to access LL, Wikipedia, Wiktionary, Google, X, etc. The Catch 22 is that it is a crime to use a VPN in China. Turns out most of the grad students in arts and/or humanities-related disciplines were without access to the banned VPNs and were thus, as expected, often seriously cut off from the outside world. "After all, how could I possibly do any of my research without access to a VPN?" one told me.

July 17, 2024, 2 p.m.
Trump Invites China to Invade Taiwan If He Returns to Office
Trump Invites China to Invade Taiwan If He Returns to Office
['Taiwan', 'war', 'Chinese', 'China', 'States']

In an interview with Bloomberg, Donald Trump implied the United States under his presidency would not defend Taiwan from a Chinese attack. “Taiwan is 9,500 miles away,” he explained. “It’s 68 miles away from China.”

Trump Invites China to Invade Taiwan If He Returns to Office

An underrated risk is that he emboldens China to invade Taiwan. The Chinese Communist Party has never recognized Taiwan's independence. The CCP has taken an increasingly belligerent posture toward its neighbors, including Taiwan. The United States has always adopted a posture of strategic ambiguity toward Taiwan - which is to say it has supported Taiwan's defense without formally committing itself to go to war in the event of an invasion. "Taiwan is 9,500 miles away," he explained. The traditional reasons for preventing a Chinese invasion of Taiwan include supporting democracy, which is if anything a negative in Trump's mind. Opening the door to a potential war between China and Taiwan alone is enough to disqualify him.

July 17, 2024, 2 p.m.
Effect of Chinese outward FDI on youth unemployment in sub-Saharan Africa
Effect of Chinese outward FDI on youth unemployment in sub-Saharan Africa
['FDI', 'Chinese', 'effect', 'country', 'employment']

This paper investigates the effect of Chinese outward foreign direct investment (FDI) on youth unemployment in sub-Saharan Africa (SSA) by using a modified labour demand model to identify the investment sources that are helpful for reducing youth unemployment…

Effect of Chinese outward FDI on youth unemployment in sub-Saharan Africa

Considering these structural and institutional differences, the rise in China's outward FDI prompts the following questions: How does Chinese outward FDI affect host developing economies? How does the impact of Chinese outward FDI differ from the impact of other FDI? Explored the impact of three aspect of FDI, greenfield FDI, FDI flows and FDI stock, on total employment in Africa. FDI may be classified as expansionary and defensive types [70, 71]. Chen and Ku argue that expansionary FDI enters the host country to exploit the investing firm's ownership advantages, such as new technology and know-how, whereas, defensive FDI seeks cheap labour in the host country with the goal of reducing the cost of production. Since we are interested in the effect of China's outward FDI to SSA, the FDI variable is separated into two, namely FDI from China and FDI from others. Specifically, in Table 8 regression-2 the Chinese FDI variable has negative and significant coefficient, suggesting that on average, a unit increase in Chinese FDI stock as a share of GDP reduces youth unemployment by 0.44%. Similarly, the coefficient of Chinese FDI variable in Table 8 regression-3 indicates that on average, one unit increase in Chinese FDI stock as a ratio of host GDP decreases youth unemployment rate by 0.34%. In Table 9, regressions 4 and 5 also indicate negative and significant effect of Chinese FDI on the dependent variable after controlling for the impact of domestic absorptive capacity. The coefficients are much smaller than individual institutional quality, human capital and Other FDI. These results conflict with our prior theoretical expectation and points to a lack of complementarity between human capital, institutional quality and other FDI in reducing youth unemployment in SSA. Similar to the conclusion in the case of Chinese FDI, the regression results here fail to confirm H2 and H3 in the case of Other FDI. Overall, our regression estimates suggest that individual current Chinese FDI has a reducing effect on youth unemployment and this effect does not depend much on interactions with host country human capital and institutional quality. To realize positive employment outcomes from inward FDI, SSA countries should pursue a labor absorbing FDI policy that attracts more greenfield FDI from China and other FDI sources.

July 17, 2024, 1:10 p.m.
The US Needs a Techno-Industrial Strategy
The US Needs a Techno-Industrial Strategy
['China', 'economy', 'strategic', 'industries', 'advanced']

China’s efforts to shift its economic model toward advanced industries demand a powerful US response. By driving investments toward advanced manufacturing, pursuing a strategic trade policy, and strengthening its workforce, the US can leverage its existing ad…

The US Needs a Techno-Industrial Strategy

China's efforts to shift its economic model toward advanced industries demand a powerful US response. By driving investments toward advanced manufacturing, pursuing a strategic trade policy, and strengthening its workforce, the US can leverage its existing advantages to cement its leadership in the industries of the future. WASHINGTON, DC - In the wake of the Great Recession of 2008-09, practically everyone seemed convinced that China's economy would surpass that of the United States by 2030. Today, China is facing a range of crises that could spell doom for its economic "Miracle." In an effort to get back on track - and strengthen its strategic position - China has lately been seeking to position advanced industries, rather than real estate, as the economy's main growth engine. How the US responds will help determine the outcome of the two countries' strategic competition - and the future of the global economy.

July 17, 2024, 10:17 a.m.
San Sebastian: Nick Robinson & Bel Powley Sci-Fi Romance 'Turn Me On' Among Lineup For New Directors Strand
San Sebastian: Nick Robinson & Bel Powley Sci-Fi Romance 'Turn Me On' Among Lineup For New Directors Strand
['director', 'film', 'debut', 'second', 'New']

Eleven filmmakers from Argentina, China, France, Georgia, Spain, Thailand, Turkey and the USA will show their first and second films in the San Sebastian Festival’s (Sep 20-28) New Directors section. Among them are new projects featuring Nick Robinson and Bel…

San Sebastian: Nick Robinson & Bel Powley Sci-Fi Romance 'Turn Me On' Among Lineup For New Directors Strand

Eleven filmmakers from Argentina, China, France, Georgia, Spain, Thailand, Turkey and the USA will show their first and second films in the San Sebastian Festival's New Directors section. Among them are new projects featuring Nick Robinson and Bel Powley, Nicolas Duvauchelle and Denis Lavant, and Roschdy Zem and Bella Kim. In his second work, Regretfully at Dawn, the Thai director entwines the fates of an old man, a little girl and a young soldier;. Having directed Walking in Darkness, which premiered in the Bright Future section of the Rotterdam Festival, Chinese moviemaker Yongkang Tang will participate in New Directors with his second film, Stars and the Moon, about a boy from a mountain village who spends every day scouring the sky, convinced that he will see aliens. Michael Tyburski, who made his debut at Sundance Festival with The Sound of Silence, will compete in the section with his second film, Turn Me On. Starring Bel Powley and Nick Robinson, this sci-fi romantic comedy is set in a new age community where people must take a pill every day to eradicate all human emotions. These projects join Spanish projects already announced including debuts La guitarra flamenca de Yerai Cortés, from Antón Álvarez, opening film of New Directors, and Por donde pasa el silencio / Where the Silence Passes, from Sandra Romero. All of these films will compete for the Kutxabank-New Directors Award, coming with €50,000 divided equally between the director and distributor of the film in Spain.

July 17, 2024, 10:17 a.m.
World's first dual-tower solar thermal plant boosts efficiency by 24%
World's first dual-tower solar thermal plant boosts efficiency by 24%
['Solar', 'tower', 'power', 'mirror', 'facility']

Two 650-foot-tall (200-m) towers have risen in China's Gansu Province. Combined with an array of 30,000 mirrors arranged in concentric circles, the new facility is expected to generate over 1.8 billion kilowatt-hours of electricity every year.Continue Reading…

World's first dual-tower solar thermal plant boosts efficiency by 24%

Known as solar thermal or concentrated solar power, these systems rely on mirrors known as heliostats to bounce sunlight to a central gathering point. In 2014, what was then the world's largest solar thermal power station opened in the Mojave Desert in the United States. In 2017, Australia announced that it was building the world's largest single-tower solar thermal power plant with a proposed output of 150 megawatts, although that project was ultimately killed in 2019. The world's largest CSP, the Noor Complex Solar Power Plant, now operates in the Sahara Desert in Morocco where it churns out 510 megawatts of power a year. Now, according to a report from China Global Television Network, the Three Gorges Group in China has announced another evolution in CSP. Much like the facility in the US, the Ghazhou solar thermal energy storage project will use multiple towers: in this case, two of them, both sharing the same steam turbine. "This configuration is expected to enhance efficiency by 24 percent." Helping that efficiency along is the fact that the mirrors being used have a 94% reflection efficiency, meaning that most of the solar energy that hits them is beamed back to the power-producing towers. As part of that green-power effort, the solar thermal energy towers and mirror arrays are expected to save 1.53 million tons of carbon dioxide emissions per year.

July 17, 2024, 9:36 a.m.
Speech: World Trade Organization: China's Trade Policy Review. UK Statement
Speech: World Trade Organization: China's Trade Policy Review. UK Statement
['China', 'Trade', 'global', 'own', 'foreign']

China's WTO Trade Policy Review, July 2024: UK Statement. Delivered by the UK's Permanent Representative to the WTO and UN, Simon Manley.

Speech: World Trade Organization: China's Trade Policy Review. UK Statement

Whilst all Trade Policy Reviews require preparation, to review China's trade policies is to review more than one tenth of global trade. Since we last convened to review China's trade policy in 2021, strains on the global trading system and economies, have only increased. As one of the three co-Chairs of the Informal Working Group on Trade and Gender, let me also welcome China's efforts to increase women's economic participation in trade activities, particularly in the fields of science, technology, and financial services. The UK looks to cooperate with China on these and other global issues that need our urgent attention and which it is in all our interests to address, recognising that there will also be areas where, at times, we will need to compete and must challenge. Within China's domestic market, we recognise where the government has responded to Members' concerns since China's last Review. We have welcomed changes to data regulations in China, but significant restrictions remain on information moving out of the country, with businesses feeling pressed to localise production to unlock market access in China. We are confident that China is willing and able to listen to trading partners' concerns, and we want to continue working constructively with China to restore predictability and confidence in the multilateral system.

July 17, 2024, 8:39 a.m.
Luxury brands feel the sting as Chinese growth slows, Marketing & Advertising News, ET BrandEquity
Luxury brands feel the sting as Chinese growth slows, Marketing & Advertising News, ET BrandEquity
['Luxury', 'China', 'sales', 'year', 'brand']

Profit warnings from Burberry and Hugo Boss and a 27% drop in quarterly sales in China, Macau and Hong Kong from Richemont this week have reinforced concerns about weakness in China, where middle-class shoppers have cut spending on big-ticket items. According…

Luxury brands feel the sting as Chinese growth slows, Marketing & Advertising News, ET BrandEquity

Luxury brands feel the sting as Chinese growth slows, Marketing & Advertising News, ET BrandEquity. According to consultancy Bain, China accounted for 16% of 362 billion euros of global luxury spending last year. Flavio Cereda, co-manager of GAM's luxury brands investment strategy, said he was still awaiting any sign of a pickup in discretionary spending. Quarterly reports are also likely to show that luxury brands at the top end of the market are faring better currently, with the ultra wealthy still splashing the cash. Birkin bag maker Hermes, whose handbags sell for more than $10,000, is the only major luxury stock to have gained in the past year. PROLONGED DOWNTURNThe luxury sector has relied for years on China's strong appetite for premium goods, with its market tripling in size between 2017 and 2021, according to Bain. This summer the Paris Olympics could further weigh on luxury sales as swathes of Europe's fashion capital are cut off from shoppers, delaying prospects for returning positive earnings momentum for luxury companies, said UBS analyst Zuzanna Pusz.

July 17, 2024, 8:35 a.m.
China Suspends Arms Control Consultations With US Over Sale of Weapons to Taiwan
China Suspends Arms Control Consultations With US Over Sale of Weapons to Taiwan
['China', 'Lin', 'Taiwan', 'weapons', 'non-proliferation']

BEIJING (Sputnik) - Beijing has suspended consultations with Washington on arms control and non-proliferation due to US's sale of weapons to Taiwan, Chinese Foreign Ministry spokesman Lin Jian said on Wednesday.

China Suspends Arms Control Consultations With US Over Sale of Weapons to Taiwan

Beijing has suspended consultations with Washington on arms control and non-proliferation due to US's sale of weapons to Taiwan, Chinese Foreign Ministry spokesman Lin Jian said on Wednesday. "The US side continued to sell weapons to Taiwan while ignoring strong protests ... from China and taking a number of actions that seriously violate China's fundamental interests and destroy bilateral political mutual trust," Lin told a briefing. China has decided to suspend a new round of consultations with the United States on arms control and non-proliferation, the spokesman said. Arms control consultations, non-proliferation, us's sale of weapons to taiwan. "The responsibility for the situation lies with the US side," Lin said.

July 17, 2024, 8:28 a.m.
Russia's 'window to the west' turns to tourists from the East
Russia's 'window to the west' turns to tourists from the East
['Russia', 'tourist', 'Chinese', 'Saint', 'Petersburg']

Saint Petersburg, Russia — Alexandra Kulikova used to come across plenty of different European languages on the streets of Saint Petersburg, the iconic city founded by Peter the Great as Russia's "window to the West". "You could hear English, French or Ital…

Russia's 'window to the west' turns to tourists from the East

"You could hear English, French or Italian being spoken everywhere... and we were always full," Kulikova, the co-owner of a chain of apartment rentals in the city, told AFP. But the Kremlin's military offensive in Ukraine - and the barrage of sanctions it triggered- effectively sealed Russia off to most would-be Western travelers, seriously knocking the country's tourism industry. Russia is now looking to visitors from Asia and the Middle East to fill the void. During the first quarter of 2024, almost half of all foreign tourists who visited Russia came from China - an estimated 99,000 of 218,000. "Russia is an interesting country, and now it's easier to get here. There are electronic visas," Liu Yitin, a 60-year-old waiting to board told AFP. "There are many tourist sites in Russia, and our countries have a lot in common," Yitin said. While Western governments have strongly advised their citizens against traveling to Russia, Beijing has issued no such warning, and Chinese tourism to Russia has grown exponentially. "They only know Russia from television," she told AFP. "Because of the fighting in Ukraine, they are a little afraid. But everything is fine" once they arrive in Russia, she said. Despite all these efforts, many in the industry say Russia still faces an acute shortage of tourists.

July 17, 2024, 8:05 a.m.
Xiaomi Shows Off Mix Flip Phone Ahead of Friday Launch
Xiaomi Shows Off Mix Flip Phone Ahead of Friday Launch
['flip', 'phone', 'cover', 'screen', 'Mix']

The Mix Flip is Xiaomi's inaugural clamshell-style phone.

Xiaomi Shows Off Mix Flip Phone Ahead of Friday Launch

Xiaomi is the latest player to enter the flip phone arena. The Beijing-based company showed off its inaugural flip phone, the Mix Flip, ahead of its launch in China on Friday. The Mix Flip adopts the large outer screen seen on recent flip phone offerings such as Samsung's Galaxy Z Flip 6 and Motorola's Razr Plus 2024. This may have been kicked off by Chinese phonemaker Oppo, which shook up the cover design of flip phones in late 2022 by introducing a vertically oriented cover screen to its first-ever flip phone, the Find N2 Flip. Xiaomi's flip phone comes mere days after Samsung took the wraps off its flagship Galaxy Z Flip 6. Another image indicates that the Mix Flip will run on Qualcomm's Snapdragon 8 Gen 3 processor and have a Leica-branded camera module. Xiaomi has cultivated a reputation for offering good value, and it'll be interesting to see how the Chinese firm decides to price its Mix Flip - if it gets an international launch.

July 17, 2024, 7:23 a.m.
China will hand Solomon Islands a $30 million budget rescue package. A leading MP says basic details are missing
China will hand Solomon Islands a $30 million budget rescue package. A leading MP says basic details are missing
['Island', 'Pacific', 'China', 'Solomon', 'Manele']

The leader of independent MPs in Solomon Islands is demanding the country's prime minister provide more information about a budget rescue package from China.

China will hand Solomon Islands a $30 million budget rescue package. A leading MP says basic details are missing

A leading independent MP in Solomon Islands is calling for the nation's prime minister to reveal details of a budget rescue package from China worth more than $30 million. Experts say if China has granted the money to Solomon Islands, it signals a shift in Beijing's approach to the Pacific region. The leader of independent MPs in Solomon Islands is demanding the country's prime minister provide more information about a budget rescue package from China. Yesterday Solomon Islands Prime Minister Jeremiah Manele announced that China would hand more than $30 million in "Budgetary support" to the Pacific Island nation, which is grappling with severe financial strains. "If it's a loan then we could go over our borrowing limit for Solomon Islands," he told the ABC. "If it's a grant then I think that's a shift in the way China does business, because that's not what they usually do." He said China typically preferred loans because they handed it "Leverage" - but if Beijing had made an exception for Solomon Islands, other Pacific island nations would quickly take notice. Australia remains by far the largest provider of development assistance to Solomon Islands, and has made a series of direct budget commitments to Honiara in recent years - including $25 million in election support, $16.7 million for the Pacific Games and a further $7 million announced earlier this year.

July 17, 2024, 7:14 a.m.
Nvidia plans RTX 5090D for China next Q1, with performance cutbacks despite architecture boost
Nvidia plans RTX 5090D for China next Q1, with performance cutbacks despite architecture boost
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A tech blogger, hongxing2020, recently revealed on platform X that Nvidia is preparing the next-generation RTX 5090D graphics card for the Chinese market, which is expected to be released in the first quarter of 2025. Last December, the California-based chip …

Nvidia plans RTX 5090D for China next Q1, with performance cutbacks despite architecture boost

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July 17, 2024, 6:52 a.m.
Chinese EV maker GAC AION opens factory in Thailand
Chinese EV maker GAC AION opens factory in Thailand
['Thailand', 'produce', 'factory', 'GAC', 'Motor']

BANGKOK - China's electric vehicle (EV) maker GAC Aion, a subsidiary of GAC Group, on Wednesday opened its first factory in Thailand, a key regional auto export and assembly hub and fast-g…

Chinese EV maker GAC AION opens factory in Thailand

BANGKOK - China's electric vehicle maker GAC Aion, a subsidiary of GAC Group, on Wednesday opened its first factory in Thailand, a key regional auto export and assembly hub and fast-growing EV market. "We will support Thailand's EV production and promote Thailand as an EV industry centre in Southeast Asia," Zeng Qinghong, GAC Group chairman said at the factory's inauguration at an industrial estate in Rayong province, about 180 kilometres east of Bangkok. Thailand has for decades been a regional auto production hub, dominated by Japanese producers like Toyota Motor and Isuzu Motor. "We are using a strategy to produce quickly in a small amount using AI ... to reduce waste and minimise cost," Ma Haiyang, Managing Director GAC Aion Southeast Asia said. The new factory comes days after rival Chinese EV maker BYD Motor opened a factory in Thailand, it is first in Southeast Asia. The rapid expansion of Chinese EV makers in Thailand has impacted Japanese auto producers. Honda Motor, Japan's second-largest auto maker, last week said it would consolidate its two factories in Thailand into a single facility.

July 17, 2024, 6:15 a.m.
China's Communist Party charts technology- and security-focused development for reviving the economy
China's Communist Party charts technology- and security-focused development for reviving the economy
['China', 'government', 'economy', 'property', 'year']

In a year of major elections that will determine the destinies of many countries, China's ruling Communist Party is holding closed, top-level meetings in Beijing to set strategies for reviving its slowing economy.

China's Communist Party charts technology- and security-focused development for reviving the economy

BANGKOK - In a year of major elections that will determine the destinies of many countries, China's ruling Communist Party is holding closed, top-level meetings in Beijing to set strategies for reviving its slowing economy. State media likened the meetings that end Thursday to reforms started in the late 1970s that opened China's economy to foreign investment and private enterprise. Nearly a half-century after the late leader Deng Xiaoping launched China's ascent as a manufacturing powerhouse, the party is doubling down on leader Xi Jinping's blueprint for technology- and national security-focused development. Double-digit growth in production of electric vehicles, solar panels and many other products is adding to concerns China is flooding foreign markets with products that can't sell at home. Years ago, China began trying to nurture a stronger consumer economy and reduce reliance on exports and heavy investment projects that now are yielding lower and lower returns. The crackdown on heavy borrowing by property developers like China Evergrande and Sino-Ocean Group, led to default on loans. Any fresh reforms or initiatives resulting from the plenum are bound to be within the parameters set by Xi's vision for China's future as a world technology power led by the century-old Communist Party.

July 17, 2024, 5:06 a.m.
Analysis-Luxury brands feel the sting as Chinese growth slows
Analysis-Luxury brands feel the sting as Chinese growth slows
['luxury', 'China', 'year', 'sales', 'sector']

Analysis-Luxury brands feel the sting as Chinese growth slows

Analysis-Luxury brands feel the sting as Chinese growth slows

According to consultancy Bain, China accounted for 16% of 362 billion euros of global luxury spending last year. Flavio Cereda, co-manager of GAM's luxury brands investment strategy, said he was still awaiting any sign of a pickup in discretionary spending. Quarterly reports are also likely to show that luxury brands at the top end of the market are faring better currently, with the ultra wealthy still splashing the cash. Birkin bag maker Hermes, whose handbags sell for more than $10,000, is the only major luxury stock to have gained in the past year. PROLONGED DOWNTURN. The luxury sector has relied for years on China's strong appetite for premium goods, with its market tripling in size between 2017 and 2021, according to Bain. The prolonged downturn may prompt some brands to slow expansion plans in China, though Chanel has said it plans to continue investing in new stores in the mainland, as it is catching up with competing brands. This summer the Paris Olympics could further weigh on luxury sales as swathes of Europe's fashion capital are cut off from shoppers, delaying prospects for returning positive earnings momentum for luxury companies, said UBS analyst Zuzanna Pusz.

July 17, 2024, 3:46 a.m.
Why Is Genshin Impact Being Accused Of Cultural Appropriation And Whitewashing? The 'Hoyoverse Controversy' Explained
Why Is Genshin Impact Being Accused Of Cultural Appropriation And Whitewashing? The 'Hoyoverse Controversy' Explained
['Genshin', 'game', 'Representation', 'Impact', 'cultural']

There's a lot to unpack about the Hoyoverse Controversy and we'll summarize the main topics in this article.

Why Is Genshin Impact Being Accused Of Cultural Appropriation And Whitewashing? The 'Hoyoverse Controversy' Explained

The Genshin Impact fanbase is protesting against MiHoYo, the Chinese company responsible for Genshin and Honkai: Star Rail, accusing Hoyoverse of cultural appropriation and whitewashing African and Latin American-inspired characters for the upcoming Natlan nation update. While the most recent, this is not the first time the gacha game has faced these types of allegations, as creators like YouTuber and streamer AsianGuyStream addressed in a video from July 2022 titled "Is Genshin Impact Racist? Why Representation Matters" in which he shared his thoughts on the discourse surrounding Sumeru 3.0 update and the lack of accurate representation of the cultures and people it is derived from. While the 2022 backlash remained fairly small among fans of the game, this is not the case for the new controversy that recently became a viral internet topic in July 2024 thanks to the new Genshin Impact nation "Natlan" that purportedly features characters based on indigenous Latin American culture and African deities, which have all been portrayed as white or light-skinned. It all started after Genshin Impact released a trailer for the game's upcoming new region, the Natlan nation, which is purportedly inspired by African and Latin American cultures, a common Genshin trope, as the gacha already has nations seemingly inspired by locations like France, Japan and other cultures. The allegations grew exponentially over the following weeks as Genshin players started to post more and more about the alleged cultural appropriation and whitewashing featured in the game. One of the main aspects that made the Hoyoverse controversy blow up on social media was Genshin Impact's voice actors protesting against the Chinese company. On July 7th, 2024, a petition was launched by user Aventurine of Stratagems on Change. org titled "Stop Cultural Appropriation and Whitewashing in MiHoYo Games." The petition states, "We call on MiHoYo to stop cultural appropriation and whitewashing in their games and to commit to respectful and accurate representation of all cultures."

July 17, 2024, 3:13 a.m.
Mexico Means Opportunity for the U.S.
Mexico Means Opportunity for the U.S.
['Mexico', 'economic', 'United', 'investment', 'States']

“We are very important neighbors, we rely on each other much more than what you see in the press. In the papers, Mexico is everyone’s favorite pinata. Actually, Mexico helps the U.S. be competitive. Mexico is not the enemy—we are a partner helping the US be c…

Mexico Means Opportunity for the U.S.

"We are very important neighbors, we rely on each other much more than what you see in the press. In the papers, Mexico is everyone's favorite pinata. Actually, Mexico helps the U.S. be competitive. Mexico is not the enemy-we are a partner helping the US be competitive around the world." Jorge Esteve of ECOM Agroindustrial, one of Mexico's leading businessmen, laid out this counterargument to popular American perceptions over lunch at the Club de Industriales, high over Mexico City's sprawling skyline. More than twenty-five years ago, before China opened up its economy, Mexico was the United States' second-largest largest trading partner after Canada. The United States is already getting more help than popularly appreciated from Mexico in the geopolitical strategic competition between open, rules-based democratic powers and their authoritarian rivals. Mexico still faces difficult challenges that complicate a "Win-win" economic and political relationship with the United States. The United States will benefit enormously both economically and from a security point of view if we stop seeing Mexico as a "Problem" and more as an opportunity. These kinds of shared actions can turn the nearshoring moment into a true "Allyshoring" experience in which the United States and Mexico realize shared goals-economic growth and more good-paying jobs, support for environmental protections, and a less corrupt and transparent business environment.

July 17, 2024, 3:09 a.m.
China With Hungary Ready to Contribute to Political Settlement in Ukraine - Wang Yi
China With Hungary Ready to Contribute to Political Settlement in Ukraine - Wang Yi
['Hungary', 'Ukraine', 'Chinese', 'Ministry', 'Szijjarto']

BEIJING (Sputnik) - China is ready to cooperate with Hungary to contribute to the development of the situation in Ukraine toward a political settlement, Chinese Foreign Minister Wang Yi has said during a phone conversation with his Hungarian counterpart, Pete…

China With Hungary Ready to Contribute to Political Settlement in Ukraine - Wang Yi

China is ready to cooperate with Hungary to contribute to the development of the situation in Ukraine toward a political settlement, Chinese Foreign Minister Wang Yi has said during a phone conversation with his Hungarian counterpart, Peter Szijjarto. "China is ready to cooperate with Hungary to gather more forces in support of peace, raise more rational voices, and contribute to the development of the situation [in Ukraine] toward a political settlement," the Chinese Foreign Ministry quoted Wang as saying. The ministry added that Szijjarto delivered views on the Ukraine crisis and Hungary's recent efforts on the issue to his Chinese counterpart. "Szijjarto delivered views on the current environment, the Ukraine crisis in particular, and Hungary's recent efforts," the ministry said.

July 17, 2024, 2:37 a.m.
China's solar industry finds oasis in the Middle East
China's solar industry finds oasis in the Middle East
['solar', 'energy', 'Middle', 'East', 'Chinese']

With trade barriers from Europe and the US against Chinese solar imports, the Middle East, which is currently moving toward clean energy transformation and enjoys good trade relationships with China, has emerged as a crucial outlet for China's solar capacity …

China's solar industry finds oasis in the Middle East

China's solar energy giants such as JinkoSolar, LONGi Green Energy Technology, TrinaSolar, and JA Solar Technology, have struggled since 2023. AI integration in solar energy Artificial Intelligence became a hot topic at the exhibition, with the concept of "AI-enhanced solar energy" frequently discussed. The presence of numerous overseas buyers from countries like Germany, Spain, South Korea, Japan, India, Malaysia, Argentina, the UAE, and Saudi Arabia at the Shanghai solar power exhibition underscores opportunities for collaboration between Chinese solar companies and international partners. From an investment perspective, the Middle East is emerging as a key new hotspot for Chinese solar players to materialize their "Going global" strategy. Since 2023, leading Chinese solar companies such as GCL New Energy Holdings, TCL Zhonghuan, and TrinaSolar have announced investment plans in the Middle East, covering crystalline silicon, solar cell modules, and auxiliary materials. Data from Infolink Consulting indicates the Middle East's demand for solar energy is expected to grow to 29-35 GW by 2027 from 20.5-23.6GW estimated for 2023, with significant increases in Turkey, the UAE, and Saudi Arabia. From 2022 to 2023, China's exports of solar modules to the Middle East and North Africa consistently exceeded 10 GW, with rapid growth in Saudi Arabia and the UAE. In the first four months of 2024 alone, China exported 10.3 GW of modules to the Middle East, representing a year-on-year increase of 180%. Major solar players such as JinkoSolar and Trina Solar are forming delegations to explore new business cooperation opportunities in the Middle East.

July 17, 2024, 1:59 a.m.
Japan-Germany security cooperation troubles North Korea, China
Japan-Germany security cooperation troubles North Korea, China
['Japan', 'cooperation', 'countries', 'Korea', 'NATO']

washington — North Korea and China are watching for possible regional impacts from Japan's recent enhanced security cooperation with Germany. This weekend, Japan will hold joint drills with Germany around the Chitose Air Base in Hokkaido, Japan's northernmo…

Japan-Germany security cooperation troubles North Korea, China

North Korea and China are watching for possible regional impacts from Japan's recent enhanced security cooperation with Germany. North Korea slammed the security cooperation as "Collusion" that crossed a "Red line" and is "Reminiscent of the Second World War," according to North Korea's state-run KCNA on Monday. Kishida said Japan hopes to work with Germany "To deal with the deepening military cooperation between Russia and North Korea as well as China's moves related to the Russian invasion of Ukraine," according to Nippon. com, a news agency based in Tokyo. A military supply-sharing pact that aims to exchange food, fuel, and ammunition between Japan and Germany entered into force. Beijing said the cooperation between Japan and Germany should not create tensions in the Asia-Pacific region. Maki Kobayashi, Japanese cabinet secretary for public affairs, told VOA's Mandarin Service during the NATO summit that Japan has been working "Very closely" with NATO countries on security issues and joint exercises. She continued, "Strengthening NATO-IP4 ties could exacerbate tensions with China and Russia, who may perceive this cooperation as a containment strategy," and encourage countries like North Korea to align more closely with them.

July 17, 2024, 1:25 a.m.
Nvidia plans new China-specific AI and gaming GPUs
Nvidia plans new China-specific AI and gaming GPUs
['site', 'Password', 'log-in', 'save', 'visit']

Nvidia continues to introduce downgraded versions of its AI and gaming GPUs for the Chinese market, which remains important to the US chip vendor, according to industry sources. New solutions customized for the Chinese market are expected to be released in th…

Nvidia plans new China-specific AI and gaming GPUs

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July 17, 2024, 12:35 a.m.
China tycoon Guo Wengui found guilty of fraud in US
China tycoon Guo Wengui found guilty of fraud in US
['Guo', 'Chinese', 'online', 'followers', 'Bannon']

He was convicted of stealing hundreds of millions of dollars from supporters to fund his lavish lifestyle.

China tycoon Guo Wengui found guilty of fraud in US

Self-exiled Chinese businessman Guo Wengui has been convicted by a US court of defrauding his online followers in a billion-dollar scam. Guo goes by several aliases, including Miles Guo, Miles Kwok and "Brother Seven". Prosecutors said Guo raised more than $1bn from online followers, who joined him in investment and cryptocurrency schemes between 2018 and 2023. "Thousands of Guo's online followers were victimised so that Guo could live a life of excess," the US Attorney in Manhattan, Damian Williams, said after the verdict. Guo's political activism and his links to high-profile, right-wing US politicians and activists earned him hundreds of thousands of online followers, most of them Chinese people living in Western countries. Guo's lawyers tried unsuccessfully to sway the jury by saying their client was not driven by money. After his arrival in the US in 2017, Guo's outspoken opposition to China's rulers inspired several ventures with Bannon.