China

China

These elements give China a material advantage over the US
As US-China relations hit new lows, Washington is redoubling efforts to address a major Achilles’ heel: its dependence on Beijing for rare earth elements – essential materials in various hi-tech products from smartphones and electric car batteries to Javelin missiles and F-35 fighters. Republican senator Ted Cruz recently introduced a bill to spur US production of critical minerals, one of several bills before Congress prompted by rising concern that China could use this as leverage. “It’s making people in Washington wake up and say this is not sustainable,” said Martijn Rasser, a fellow at the Center for a New American Security. “If China really is willing to restrict exports, we’re in for
Xi personally asked Trump to lift Huawei sanctions, Bolton claims
Chinese President Xi Jinping made a personal appeal to Donald Trump to remove sanctions on Chinese technology firms, according to a tell-all memoir by former American national security adviser John Bolton. In his book The Room Where It Happened, Bolton said Xi discussed the companies, ZTE and Huawei Technologies, in phone calls in May 2018 and June 2019, saying he would be indebted to the US President if the sanctions were eased. In talks on trade and Taiwan at the Group of 20 summit in the Japanese city of Osaka in 2019, Xi lectured Trump on the humiliation that China experienced as a result of the Treaty of Versailles a century earlier, according to the book.  The treaty drafted in Paris
Chinese stocks could be frozen out of Wall Street. But will the US pay for it?
Sweeping legislation that could remove publicly traded Chinese companies from US stock exchanges has the potential to trip up businesses and investors at home as Chinese firms move to other countries for capital. The bill – the Holding Foreign Companies Accountable Act – aims to address a thorny issue US securities regulators have had with Beijing for decades: its refusal to allow audit inspections of their companies.  If it becomes law, Chinese companies will be required to comply with the rules or face being delisted, which would put $1.3 trillion of US-listed Chinese firms, including behemoths Alibaba Group and Tencent, at risk of losing access to the world’s largest capital markets. Pol
China completes satellite navigation system
China’s final BeiDou-3 satellite for its global navigation system was launched on June 23, 2020, at 9.43am, from the Xichang Satellite Launch Centre in the southwest province of Sichuan. A Long March 3B rocket carried the satellite into orbit, completing the third-generation network for the BeiDou Navigation Satellite System. BeiDou is the fourth major global satellite navigation system, following GPS built by the US, Russia's Glosnass and the European Union's Galileo.
The stark reality of China’s wage gap
Every Tuesday and Thursday, Inkstone Index features a single, illuminating number that helps you make sense of China. $141: How much the poorest 40% of Chinese people make per month. China’s top economic data agency on June 15 said that more than 40% of China’s population, or more than 600 million people, earned only about 1,000 yuan ($141) per month last year. With $141 in China, someone could buy about 45 Big Mac meals or buy one pair of Nike Air Jordan shoes.  The data agency confirmed a figure quoted by Chinese Premier Li Keqiang at a press conference in May that left many middle-class Chinese in disbelief. Some internet users expressed shock at how many people were left behind in China’
Chinese villager creates wall painting using burning charcoal
A villager in China’s Anhui province uses burning charcoal to create art pieces on the walls of an abandoned primary school. The artist, Chao Ge, stopped drawing after high school, but picked it up again while on lockdown during the Covid-19 pandemic. He likes to draw animals and Chinese heroes the most.
Hong Kong is getting a special police unit for its new national security law
Hong Kong police are setting up a dedicated unit to enforce the coming national security law, one that will be ready to function on the “very first day” the controversial legislation comes into effect, the city’s security minister told the South China Morning Post. John Lee, the minister, said the new unit, would be commanded by Hong Kong’s police commissioner Chris Tang. It would have intelligence-gathering, investigation and training capabilities, Lee said. But he declined to elaborate on how police would work with the new agency the mainland’s national security authorities are expected to set up in Hong Kong after the law is in place. The revelation came a week after the security minister