Beijing calls Paraguay leaders willing ‘chess pieces’ after disputed Taiwan trip
Industry

Beijing calls Paraguay leaders willing ‘chess pieces’ after disputed Taiwan trip

Beijing’s anger over President Santiago Pena’s Taipei trade visit comes as Taiwan issue looms large at this week’s Trump-Xi summit “The wheels of history wait for no one. Rejecting the one-China principle will only isolate oneself from the international community,” Guo told a regular press briefing. He questioned whether the visit served the Paraguayan public or had “some ulterior motive”. Beijing sees Taiwan as part of China to be reunited by force if necessary. Most countries, including the US, do not recognise Taiwan as an independent state, but Washington is opposed to any attempt to take the self-ruled island by force and is committed to supplying it with weapons.

China presses Pakistan to deepen Iran mediation ahead of Trump-Xi talks
Industry

China presses Pakistan to deepen Iran mediation ahead of Trump-Xi talks

Wang Yi highlights Strait of Hormuz security and regional stability as Middle East tensions loom over Beijing talks China’s foreign minister Wang Yi on Tuesday urged Pakistan to ramp up mediation efforts in the Iran crisis, as the war threatens to overshadow US President Donald Trump’s visit to Beijing. In a call with his Pakistani counterpart Ishaq Dar, Wang lauded Pakistan’s efforts in facilitating negotiations between Washington and Tehran and helping to extend the ceasefire. But he also called for Pakistan to “step up its mediation efforts to contribute to … the opening of the Strait of Hormuz and the early restoration of regional peace”. “China will continue to support Pakistan’s mediation efforts and make its own contributions towards this end,” he said, according to Chinese state broadcaster CCTV. Still, tensions in the region remain high and the ceasefire has been repeatedly tested, with the US carrying out “self-defence strikes” against Iranian targets. According to the CCTV report, Dar thanked China for backing Islamabad’s mediation efforts and said he looked forward to closer coordination to “jointly play a positive role in safeguarding regional peace and stability”.

Trump heads to Beijing seeking stability in high-stakes Xi talks
Industry

Trump heads to Beijing seeking stability in high-stakes Xi talks

Trade, Taiwan and Middle East tensions loom as US and Chinese leaders meet for first state visit since Trump’s return Before boarding Marine One for Andrews Air Force Base, Trump struck an optimistic tone about the visit, saying he expected “great things” from the summit and describing Xi as “a friend” with whom he shares a strong personal relationship. “I spoke with Xi, we both look forward to the meeting,” Trump said. “We’ll be talking about many things, but more than anything, it will be trade.” Trump said he did not expect Iran to feature prominently in discussions with Xi, adding that “we have Iran very much under control”. The remarks came a day after Trump dismissed Tehran’s latest peace proposal as “garbage” and said the existing ceasefire was “on life support”. He did, however, indicate that recent developments in Cuba would be discussed during the visit. “Cuba is not doing well, and we’ll be talking about Cuba on the trip,” Trump said.

Trump visit sees Marco Rubio become first sanctioned US secretary of state to visit China
Industry

Trump visit sees Marco Rubio become first sanctioned US secretary of state to visit China

Marco Rubio will become the first sitting US Secretary of State under Chinese sanctions to visit Beijing. Images of Rubio leaving for China on Air Force One with Donald Trump appear to have answered previous questions about whether he would skip such a globally important event. Rubio is also serving as the US National Security Adviser and would normally have been expected to visit China to lay the groundwork for such a high-stakes summit. Instead he has met his Chinese counterpart Wang Yi twice...

US first lady not travelling to China with Trump
Industry

US first lady not travelling to China with Trump

US President Donald Trump departed for a three-day state visit to China on Tuesday without first lady Melania Trump, travelling instead with Cabinet officials and business executives in a delegation that contrasts sharply with the pageantry of his 2017 visit. Hours before his departure, the office of the first lady confirmed Melania’s no-show in an email response to the South China Morning Post. “First lady Melania Trump is not travelling this time,” a spokesperson said. The confirmation comes a...

Tea at the Forbidden City: how SCMP covered 2017 Xi-Trump meeting
Industry

Tea at the Forbidden City: how SCMP covered 2017 Xi-Trump meeting

Cooperative symbolism behind tea with the Trumps in the Forbidden City This article was first published on November 10, 2017 by Laura Zhou Beijing’s Forbidden City was more than just an opulent backdrop for US President Donald Trump’s first day in China. One of the main halls used to stage a set piece on Trump’s tour of the former imperial palace was weighted with meaning and chosen to underscore cooperation between the two countries. As part of their higher-than-usual welcome to the capital,...

AI engine: China’s booming tech exports give Beijing ‘wind in its sails’ for Trump summit
Innovation

AI engine: China’s booming tech exports give Beijing ‘wind in its sails’ for Trump summit

The role of tech products in April’s trade data reflects how computing-related goods are a ‘new and important growth driver’ for exports Driven by global appetite for artificial intelligence, China’s computing hardware exports have emerged as a pivotal new engine for growth, providing Beijing with strategic leverage as US tech titans accompany President Donald Trump on a high-stakes visit to the Chinese capital this week, according to analysts. Chinese trade received another significant boost from the technology sector in April, as integrated circuit (IC) export value doubled year on year to US$31.09 billion, according to data released last week by the General Administration of Customs. Volume rose 3.7 per cent to 32.04 billion units. Meanwhile, exports of automated data processing machines and parts – which include computers, laptops and servers – jumped 47.6 per cent year on year to US$23.81 billion. The two sectors alone accounted for roughly half of China’s total export growth last month, according to a Monday note by Bank of America (BofA).

China Inc.’s global growth curbs Trump tariff powers undercut by courts
Economy

China Inc.’s global growth curbs Trump tariff powers undercut by courts

US president likely to find levy threat gives little leverage over Xi Jinping U.S. President Donald Trump is set to meet Chinese leader Xi Jinping in Beijing this week, as they look to preserve their trade truce. (Nikkei montage/Source photos by Reuters) SHANGHAI -- When U.S. President Donald Trump talks trade with Chinese counterpart Xi Jinping this week, he is likely to find that tariff threats provide less leverage than they used to, not only due to lost legal battles but also because Chinese companies have spent years diversifying global supply chains.

South Korea floats using AI profits for ‘people’s dividend’
Economy

South Korea floats using AI profits for ‘people’s dividend’

President's policy chief suggests redistributive measure to ease AI-driven inequality The administration of South Korean President Lee Jae Myung has floated the idea of having members of the public receive dividends from the massive profits of chipmakers. (Nikkei montage/Source photo by Reuters) SEOUL -- A high-ranking South Korea policymaker suggested Tuesday that members of the public should be paid a share of chipmakers' massive profits, in comments that reflect the growing reliance of Asia's fourth-largest economy on semiconductor exports.

Chinese rare-earth miners bullish ahead of Trump-Xi summit
Economy

Chinese rare-earth miners bullish ahead of Trump-Xi summit

Earnings rise on higher prices as importers face battle to curb China dominance People gather at the rare-earth elements production section of an exhibition on China’s manufacturing achievements at the National Museum in Beijing on March 24. © Reuters TOKYO -- Chinese rare-earth miners are coming off strong years and staying bullish ahead of President Xi Jinping's summit this week with American counterpart Donald Trump, where the critical minerals are likely to feature in discussions.

Bond yields jump in Japan and South Korea as US-Iran talks snag
Economy

Bond yields jump in Japan and South Korea as US-Iran talks snag

Higher energy prices stir inflation fears; stock markets choppy 10-year Japanese government bond yields jumped to 2.545% on May 12, a level not seen since June 1997. (Photo by Arisa Moriyama) TOKYO -- Inflation worries stemming from the ongoing conflict in the Middle East have sent government bond yields higher in Asia, with Japan's 10-year debt yield soaring to its highest point in nearly three decades. Interest rates are also facing upward pressure in South Korea as the Iran war drags on.

Mitsubishi Heavy expects profit surge as Japan eases arms export rules
Economy

Mitsubishi Heavy expects profit surge as Japan eases arms export rules

Defense contractor touts frigate sales abroad as contributing to regional security Mitsubishi Heavy Industries' military hardware includes warships like the destroyer “Yoshii”, launched here at its Nagasaki Shipyard in Japan last December. (Photo by Taro Fujii) TOKYO -- Mitsubishi Heavy Industries expects full-year net profit to surge as it benefits from the Japanese government's decision to ease restrictions on defense equipment exports.