South KoreaChina With North Korea apparently coming in from the cold, relations are also warming between South Korea and China. This is good news for Seoul By William Pesek July 4, 2018 4:10 PM (UTC+8) Share Tweet Linkedin Print Email Share 0 Comment 0 For South Korea’s Moon Jae-in, the last six months have been full of diplomatic wins amid thawing relations with North Korea’s Kim Jong-un. On the economic front, though, the losses are piling up. At the end of 2017, Korea suffered its first quarterly contraction in nine years. Not a great look for a president elected in May 2017 – one of his mandates was to hasten economic growth. And earlier this week, data showed export growth came to a halt in June, falling 0.1% from a year earlier. The dailyReport Must-reads from across Asia - directly to your inbox That stunning reversal from a 13.2% gain in May makes South Korea the most obvious example of collateral damage from Donald Trump’s trade war. … [Read more...] about How sustainable is the China-South Korean thaw?
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SHANGHAI/BEIJING: China on Wednesday lashed out at Washington's unexpected statement that it will press ahead with tariffs and restrictions on investments by Chinese companies, saying Beijing was ready to fight back if Washington was looking to ignite a trade war.The United States said on Tuesday that it still held the threat of imposing tariffs on US$50 billion of imports from China and would use it unless Beijing addressed the issue of theft of American intellectual property.The declaration came after the two sides had agreed earlier this month to look at steps to narrow China's US$375 billion trade surplus with America, and days ahead of a visit to Beijing by U.S. Commerce Secretary Wilbur Ross for further negotiations.William Zarit, chairman of the American Chamber of Commerce in China, said Washington's threat of tariffs appeared to have been "somewhat effective" thus far."I don't think it is only a tactic, personally," he told reporters on Wednesday, adding that the group does … [Read more...] about China slams surprise US trade announcement, says ready to fight
SHANGHAI/BEIJING: China's state media on Wednesday lashed into a U.S. announcement that it would press ahead with restrictions on investment by Chinese companies, saying Beijing was ready to fight back if Washington was looking to ignite a trade war.The United States said on Tuesday that it still held the threat of imposing tariffs on US$50 billion of imports from China and would use it unless Beijing addressed the issue of theft of American intellectual property.The declaration by the White House came after the two sides had agreed earlier this month to look at steps to narrow China's US$375 billion trade surplus with America, and days ahead of a visit to the Chinese capital by U.S. Commerce Secretary Wilbur Ross for further talks.China commerce's ministry reacted swiftly overnight with a short statement, saying it was surprised and saw it as contrary to the consensus both sides had reached recently.Chinese tabloid the Global Times said the United States was suffering from a … [Read more...] about China’s state media slam US trade announcement, say Beijing ready to fight
A major protest against the Chinese government is being plotted by Pakistani men who say that their wives have been detained in China’s Xinjiang province, Asia Times has learnt. If not addressed in time, the fallout could adversely affect the ambitious China Pakistan Economic Corridor (CPEC), as well as the Belt Road Initiative (BRI). The men, mostly businessmen from the Gilgit-Baltistan region, say that their wives, of Uyghur ethnicity, are being kept in camps by Chinese authorities. The dailyReport Must-reads from across Asia - directly to your inbox Beijing has initiated a crackdown against Uyghur Muslims in Xinjiang, which borders Gilgit-Baltistan, saying some had ties with Islamist extremists in the region. But Pakistani government officials say that the Uyghurs have been detained as a part of China’s plan to “re-educate” them and better integrate the ethnic group with the rest of the country. “The Chinese government feels that the only way to … [Read more...] about Protests loom in Pakistan over China’s jailing of men’s Uyghur wives
Chain CEO Adam Ludwin thinks blockchain technology is not the answer to all problems, but rather a tool like many others that should be applied where relevant. Ludwin thinks there is a false dichotomy between cryptocurrencies and their underlying blockchains. Although a blockchain may be able to support a cryptocurrency, it doesn’t mean it has to and has many other use cases. Ludwin says there is no right price for bitcoin just like there is no right price for gold. There is a limited supply of bitcoin and the price is driven by demand. Ludwin says it is a better question for psychologists than it is for entrepreneurs. Business Insider’s Sara Silverstein spoke with Adam Ludwin, CEO of blockchain technology firm Chain, at the World Economic Forum in Davos, Switzerland. The following is a transcript of the interview. Silverstein: Can you help me understand what Chain does? Ludwin: We build software and sell it to financial institutions — help them with two things. … [Read more...] about CEO of blockchain company Chain on what everyone gets wrong about the technology