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BEIJING – The tariff war between Washington and Beijing poses one of the biggest challenges yet for Chinese President Xi Jinping, potentially exposing his political vulnerabilities at a time when the Chinese economy is already slowing. The U.S. effort to win concessions from China on strategic industrial policies has put Xi’s own prestige on the line. In this Wednesday, May 8, 2019, photo, a worker drives an electric cart past a display featuring the U.S. and Chinese flags in a special trade zone in Qingdao in eastern China’s Shandong province. China said Thursday it will retaliate if President Donald Trump goes ahead with more tariff hikes in a fight over technology and trade, ratcheting up tensions ahead of negotiations in Washington. (Chinatopix via AP) It also has cast into question the ruling Communist Party’s social contract with the Chinese people: keeping authoritarian, one-party rule and ruling class privileges in exchange for delivering robust economic growth, ... » Learn More about Trade dispute with US a political challenge for China’s Xi

SEOUL (AFP) - A South Korean Olympic short-track speed skating champion banned from the national team for sexual harassment has taken up Chinese citizenship and will skate for the hosts at next year's Beijing Winter Games, reports said. It will be the second consecutive home Winter Olympics for Lim Hyo-jun, after he won the 1,500m gold and 500m bronze at the 2018 Winter Games in Pyeongchang, South Korea. But last year, the 24-year-old was convicted of sexual harassment after he pulled down another male athlete's trousers in front of teammates at the national training centre. The verdict was overturned on appeal, but the case is now before the South Korean Supreme Court for a final decision. The Korea Skating Union suspended Lim for a year in August 2019, and while the penalty has been put on hold during the legal process, if the court finds against him, it would rule him out of the Beijing Games. Lim then decided to become a naturalised Chinese citizen and skate for ... » Learn More about South Korean Olympic champ banned for harassment to skate for China: Reports

BEIJING: China's decision not to set an economic growth target for its new five-year plan will give policymakers more room to account for uncertainties and respond to changes, a senior state planner official said on Monday. In its 2021-2025 economic plan delivered to the nation's legislature on Friday, China did not include any average annual growth targets, unlike the previous five-year plan issued in 2016. It did, however, pledge to keep growth in a "reasonable" range over the five-year period and set an annual gross domestic product target of above 6% for the current year, having dropped the 2020 target last year amid global uncertainties caused by the pandemic. Hu Zucai, vice director of the National Development and Reform Commission, said on Monday predicting growth for an annual period contingent on the circumstances would be easier than setting targets over a five-year period. "By not setting a specific and quantitative (five-year) growth target, we will be more ... » Learn More about China’s shift away from 5-year targets raises policy flexibility

The Chinese government's top diplomat, Wang Yi, said on Sunday that Beijing is ready to engage with relevant parties to ease the situation in Myanmar, where the military seized power last month. China's friendship is with all of Myanmar, State Councillor Wang told a news conference on the sidelines of China's annual gathering of parliament. Meanwhile, authorities in Myanmar have asked India to return several police officers who have sought refuge to avoid taking orders from a military junta that seized power in the Southeast Asian country last month, an official in northeast India said on Saturday. Around 30 Myanmar police and their family members came across the border seeking refuge in recent days, as the junta's suppression of protesters turned increasingly violent, with dozens killed since the Feb. 1 coup. The senior-most official in Champhai, a district in the Indian state of Mizoram, told Reuters that she had received a letter from her counterpart in Myanmar's Falam ... » Learn More about China says it is ready to engage with relevant parties to ease Myanmar situation

Hi all, In today's bulletin: Two people were killed and several others injured when Myanmar police fired on protesters in northern Myitkyina town; American and Chinese spacecraft reach Mars in quick succession last month, sparking talk of a space race between the two major powers; Indonesia eases rules to attract foreign investment; and more. Reading this on the web or know someone who might enjoy receiving Asian Insider? Our sign-up page is here . More killed in Myanmar protests as unions call for economic shutdown Two people were killed  and several others injured when Myanmar police fired on protesters in the northern town of Myitkyina on Monday (March 8), witnesses said. This was as shops, factories and banks were closed in Myanmar’s biggest city Yangon on Monday (March 8), after major trade unions called for a shutdown of the economy as part of the uprising against the country’s military rulers who had ousted the civilian government in a Feb 1 coup. ... » Learn More about Asian Insider, March 8: More deaths in Myanmar protests; US-China rivalry extending to space

India ’s ministry of electronics and information technology has issued a permanent ban imposed on video app TikTok and 58 other Chinese apps, Indian media reported late on Monday. When it first imposed the ban, the Indian government gave the 59 apps a chance to explain their position on compliance with privacy and security requirements, The Times of India reported. The companies, which include ByteDance ’s popular video-sharing app TikTok and Tencent Holdings ’ WeChat , were also asked to respond to a list of questions, the Reuters said. “The government is not satisfied with the response/explanation given by these companies. Hence, the ban for these 59 apps is permanent now,” business newspaper Livemint quoted a source familiar with the notices as saying. It said the notices were issued last week. The ministry’s June order stated that the apps were “prejudicial to sovereignty and integrity of India, defence of India, security of state and public order”. The order, which ... » Learn More about India’s Government Bans TikTok and 58 Other Apps from China

The following is an opinion editorial by Ong Bo Yang. His bio and information can be found at the bottom of the article. His opinions are his own. Economists and political experts have long predicted that the Asian century will arrive sometime in the 21st century, where Asia is expected to play a major influence in global affairs, particularly economic-wise, and in international relations. The RCEP deal was signed on 15 November 2020 by Australasia nations and 13 Asian countries, illustrating Asia’s willingness to embrace multilateralism and ensure greater economic integration in the Asia-Pacific region. In Asia, there are three economic powerhouses, namely China, Japan, and India, amongst the top 6 largest economies in the world. China opened up in 1978, leading to dramatic social and economic changes in the country, reducing poverty for more than 800 million Chinese nationals in the process. The Asian country has continued to liberalize its economy and open up to foreign ... » Learn More about Opinion: The Asian century

SINGAPORE: Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities. Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since Jan. 8, 2020, and were at $70.96 a barrel by 0611 GMT, up $1.60, or 2.3%. U.S. West Texas Intermediate (WTI) crude for April rose $1.47, or 2.2%, to $67.56. The front-month WTI price touched $67.98 a barrel earlier, the highest since October 2018. Asian stocks also rose after the U.S. Senate approved a $1.9 trillion stimulus bill while positive economic data from the United States and China bode well for a global economic rebound. Yemen's Houthi forces fired drones and missiles at the heart of Saudi Arabia's oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global ... » Learn More about Brent jumps past US$70 after Saudi facilities attacked

Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since Jan. 8, 2020, and were at $70.56 a barrel by 0730 GMT, up $1.20, or 1.7%. US West Texas Intermediate (WTI) crude for April rose $1.08, or 1.6%, to $67.17. The front-month WTI price touched $67.98 a barrel earlier, the highest since October 2018. Asian stocks also rose after the US Senate approved a US$1.9 trillion stimulus bill while positive economic data from the United States and China bode well for a global economic rebound. Yemen's Houthi forces fired drones and missiles at the heart of Saudi Arabia's oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security. "We could see further upside in the market in the near-term, particularly as the market probably now needs to be pricing in some sort of risk premium, with these attacks picking up in frequency," ING analysts said in a report, ... » Learn More about Brent hops past US$70 for first time since pandemic began after Saudi attack