eChina.news

Economy

India moves to protect $1tn export target from forced labor concerns

New Delhi is banning affected imports but practice is rife among small companies India is targeting $1 trillion in goods exports for the fiscal year through March 2031, but moves by the U.S. and the European Union to clamp down on imports relying on forced labor could complicate that goal. © Reuters RAJASTHAN, India -- India has moved to ban the import of goods made with forced labor, reflecting pressure from major trading partners to eliminate the practice, with failure to clean up domestic and international supply chains potentially imperiling New Delhi's $1 trillion goods export target for the fiscal year through March 2031.

July 23, 2026

Economy

How fentanyl-linked crypto fraud ties back to a Chinese drug kingpin

Japan outpost used to move funds, direct trafficking likely part of a larger operation Nikkei wrote a custom program to trace the flow of cryptocurrencies used by a smuggling network using Japan as a key transit point. (Photo by Hiroki Endo) NEW YORK/TOKYO -- One year after Nikkei reported that a Chinese organization illicitly exporting fentanyl had established a base in Japan, the fight against the synthetic opioid has entered a new phase: The U.S. Drug Enforcement Administration has acknowledged that Japan is being used as a transit hub for smuggling.

July 23, 2026

Economy

China’s copper mine in Pakistan targeted by militant ‘blockade’

Attacks in Balochistan disrupt supplies, threatening Beijing's top import item The Saindak copper and gold mine is one of China's oldest mining investments in Pakistan. (Screenshot from Balochistan Land of Beauty's YouTube page) ISLAMABAD -- The Saindak mine, China's only copper interest in Pakistan, faces what analysts call an "economic blockade" caused by repeated militant attacks along the mine's supply routes, threatening the continuity of shipments of Beijing's top import commodity from the South Asian country.

July 23, 2026

Economy

Japan’s PayPay, Seven & i to combine loyalty programs

Total 100m users challenge Rakuten and NTT Docomo in domestic market Seven & i Holdings, parent of the 7-Eleven convenience store chain, is in talks to receive an investment from SoftBank Corp. and its affiliate PayPay. (Nikkei montage) TOKYO -- SoftBank Group-backed PayPay, the largest smartphone payment service in Japan, and Seven & i Holdings are in final negotiations to integrate their customer data, Nikkei learned Thursday.

July 23, 2026

Economy

Canada in UK-Japan-Italy jet program as observer, paves way for others

Ottawa could add to supply chain diversity, become customer for GCAP fighters A GCAP sign is displayed at the Farnborough International Airshow in southern England over July 20-24. The annual airshow is well-attended by government officials, manufacturers and the public. © Reuters LONDON -- Canada will be joining the U.K., Japan and Italy in their next-generation fighter jet program as an observer, a move analysts say could open the door to other countries such as Saudi Arabia and Germany.

July 23, 2026

Economy

Steel spat poses immediate China challenge for UK’s new PM Burnham

British Steel nationalization sparks backlash from Jingye, Beijing ministries British Steel's plant in Scunthorpe, northern England, in March 2025: The U.K. government nationalized the operation "to protect the future of steel production" in the country, after its Chinese owner wanted to shut it down. © Reuters TOKYO/LONDON -- The U.K.'s new prime minister, Andy Burnham, faces an early diplomatic test as China lashes out over the nationalization of British Steel and tensions build over Chinese inroads into key industries.

July 22, 2026

Economy

Yen falls to 39-year low of 163 per dollar on Iran tensions, Takaichi plan

Under growing global uncertainty, investors sought the dollar as a safe haven. (Photo by Hikaru Yagi) TOKYO -- The yen depreciated against the dollar to its lowest mark in almost four decades, slipping to the 163 level as U.S.-Iran tensions drive up oil prices.

July 22, 2026

Economy

Rubio stresses US commitment to Asia at ASEAN meeting

Washington seeks to reassure region amid concerns over its shifting focus U.S. Secretary of State Marco Rubio gestures as he arrives for a group photo with Southeast Asian foreign ministers during an ASEAN event in Manila on July 22. © Reuters MANILA -- U.S. Secretary of State Marco Rubio on Wednesday reassured his Southeast Asian counterparts of Washington's "100%" commitment to the region, stressing that partnerships with Asian countries are in the U.S. national interest.

July 22, 2026

Economy

Vietnam diamond scandal shakes trust in certification system

Over 30 people accused of smuggling 141 shipments from India, Hong Kong Officials say criminals hid diamonds worth $57 million in their shoes and clothes to traffic them into Vietnam starting in 2024. HO CHI MINH CITY -- A different kind of diamond ring is making headlines in Vietnam, where the arrests of suspected traffickers precipitated a sell-off in shares in the country's biggest jeweler and sparked panic among some holders of the gems who rushed to several shops to off-load them on fears over their provenance.

July 22, 2026

Economy

Lynas says China’s export curbs pushing up costs of Malaysia expansion

Australian rare earth producer raises cost outlook for new facility by $80m Lynas reported a higher average selling price of its rare earth products in the three months through June, a quarter that its interim CEO described as challenging. © Getty Images CANBERRA -- Australian miner Lynas has raised the expected cost of its new heavy rare earth facility in Malaysia by nearly $80 million, due in part to China's curbs on selling equipment to foreign producers of the essential materials.

July 22, 2026

Economy

China’s Unitree says ‘GPT moment’ for robots remains years away

Humanoid leader to put almost half of IPO proceeds into embodied AI research AI has to improve its ability to control hardware such as robots, according to Unitree Robotics, due to there being more variables needing to be processed for operation in different environments. (Photo by Yuki Kohara) TOKYO -- The robotics industry may still be two to five years away from a "GPT moment" comparable with ChatGPT's breakthrough in generative artificial intelligence, a senior executive at one of the leading Chinese humanoid makers said on Wednesday.

July 22, 2026

Economy

Ritz-Carlton’s Nepal entry signals possible oversupply of high-end hotels

Himalayan nation's travel is shifting from budget travelers to luxury guests Nepal's hotel industry is ready for more luxury segments, says Marriott International's chairman, but some experts warn that there is a mismatch between supply and demand in the Himalayan country. (Nikkei montage/Source photos by Getty Images) KATHMANDU -- Marriott International is in the works to bring Ritz-Carlton and Westin hotels to Kathmandu, having recently signed agreements with a Nepalese hospitality conglomerate.

July 22, 2026