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China warned about potential 'middle-technology trap' amid tech war with US

A top state-run Chinese think-tank warned China of a potential "middle-technology trap" unless it opens doors "wide open" for new investments and scientific innovation to deal with increasing containment in the ongoing tech war with the US. "China's manufacturing sector is still in the downstream of the global value chain, and it faces a risk of being hamstrung at the low and mid-end by developed countries such as the United States, Germany and Japan, the Chinese Academy of Sciences said in its latest report released during the weekend. "The countries that develop later usually have difficulties in industrial upgrading and transitioning to high-income countries because they lack original technological advances after technology importation, imitation, absorption, and tracking, the report said. The report came amid stepped-up technology curbs by the US, while Chinese manufacturers are finding it increasingly difficult to move up value chains. The "middle-technology trap describes a .

Trump's China policies left US more vulnerable: Treasury secy Janet Yellen

Treasury Secretary Janet Yellen says former President Donald Trump's policies toward China left America more vulnerable and more isolated in the global economy, a rare jab by her at the front-runner for the Republican presidential nomination. Yellen, in prepared remarks to be delivered at a US-China Business Council event Thursday night, says the Trump administration failed to make investments at home in critical areas like infrastructure and advanced technology, while also neglecting relationships with our partners and allies that had been forged and strengthened over decades. Her comments come as the U.S. rebuilds its relationship with the Asian superpower, including a November meeting between US President Joe Biden and Chinese President Xi Jinping in San Francisco. The two nations agreed to curb the production of illicit fentanyl, a deadly component of drugs sold in the United States, and agreed to resume military-to-military communications. Yellen, who rarely comments on the ...

House panel urges tougher rules for China, raising chance of more tariffs

A special House committee focused on China is calling for altering the way the US treats Chinese-made goods, possibly subjecting them to higher tariffs even if its risks increased tensions between the two economic superpowers. The report does not specifically call for repealing China's preferential trade status, but it does recommend placing China in a new trading category that some liken to a de facto repeal. The committee's chairman said he envisions a process where Congress would determine regularly which economic sectors would be subject to higher tariffs and which would see lower tariffs. Lawmakers in both parties endorsed the proposal, a reflection of the growing willingness in Congress to build on the tariffs enacted during Donald Trump's presidency, even if it risks retaliatory actions from China that would harm many farmers, ranchers and US exporters. The committee crafted the recommendation after several months of deliberation and hearings. Members hope that the nearly 150

Taiwan intelligence says China leadership discussed election interference

Beijing has repeatedly called the DPP dangerous separatists and urged Taiwanese to make the "right choice". The DPP's presidential candidate, Lai Ching-te, is leading in the polls

Chinese military spy balloon spotted in Taiwan Strait: Island's def min

Taiwan's Defence Ministry says a Chinese military surveillance balloon was spotted in the Taiwan Strait, as well as a large-scale dispatch of military aircraft and ships. The ministry said the balloon passed southwest of the northern port city of Keelung on Thursday night, then continued east before disappearing, possibly into the Pacific Ocean. Taiwan has threatened to shoot down such balloons, but the ministry did not say what, if any, action was taken. It said the balloon was monitored flying at an altitude of approximately 6,400 meters (21,000 feet). It also said 26 Chinese military aircraft were detected, along with 10 Chinese navy ships, in the 24 hours before 6 am Friday. Of the aircraft, 15 had crossed the median line that is an unofficial divider between the sides, but which Beijing refuses to recognize. Some also entered Taiwan's air defense identification zone outside the island's airspace. Taiwan's military monitored the situation with combat aircraft, navy vessels and

Ahead of China credit outlook cut, Moody's asked staff to work from home

The department heads in the agency asked its non-administrative staff in Beijing and Shanghai not to go into the office this week

US Navy ship 'illegally intruded' South China Sea waters, says PLA

The Chinese military said that an American naval ship had illegally intruded on Monday into waters near the Second Thomas Shoal, the site of a hot territorial dispute between China and the Philippines in the South China Sea. A Chinese naval force was mobilized to track the USS Gabrielle Giffords during the operation, according to a statement from the People's Liberation Army Southern Theater. The U.S. Navy did not respond immediately to a request for comment. Chinese and Philippine naval and coast guard ships have confronted each other repeatedly around the Second Thomas Shoal in recent months as China tries to prevent the Philippines from resupplying and repairing a rusting warship that it intentionally ran aground in 1999 to serve as a military outpost. Dwarfed by China's military might, the Philippines has sought America's help, agreeing to an expansion of the U.S. military presence in the country earlier this year and launching joint sea and air patrols with the United States la

China never bets against US, has no intention to 'challenge or unseat' it

China on Monday said it never bets against the US, and has no intention to "challenge or unseat" it, after a senior US official described Beijing as the "biggest threat" and "not our friend", weeks after the summit between Chinese President Xi Jinping and his American counterpart Joe Biden. Speaking at an annual national defence forum in Simi Valley in California, US Commerce Secretary Gina Raimondo asked lawmakers, Silicon Valley and US allies to stop China from getting semiconductors and cutting-edge technologies key to national security. She said China is "the biggest threat we've ever had" and stressed that "China is not our friend". Raimondo said, "Every day China wakes up trying to figure out how to do an end run around our export controls... which means every minute of every day, we have to wake up tightening those controls and being more serious about enforcement with our allies." Reacting to her comments, Chinese Foreign Ministry spokesman Wang Wenbin said on Monday that .

US House Committee approves 'Resolve Tibet Act' for Tibet-China dispute

The Resolve Tibet Act states that Tibetans "are a people with a distinct religious, cultural, linguistic and historical identity," as per the ICT

In rare move, US revokes sanctions on China lab after Xi's fentanyl deal

The US has taken China's Institute of Forensic Science off the Commerce Department's entity list, paving for the fentanyl deal with Xi in a bid to deal with drug overdose crisis in the US.

Expect candid talk: Blinken defends Biden's 'dictator' remark for Xi

Secretary of State Antony Blinken has said the US will continue to say things that China doesn't like, as he defended President Joe Biden's remarks wherein called his Chinese counterpart Xi Jinping a "dictator". Biden called Xi a "dictator", just hours after they met for the first time in more than a year and held candid and productive discussions to revive bilateral ties on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco on Wednesday. When pressed on whether Biden's comments were the position of the US government, Blinken responded that the president "speaks for all of us", CBS News reported. "Well, it's not exactly a secret that we have two very different systems," the commercial broadcast television quoted Blinken as saying. "And the president always speaks candidly, and he speaks for all of us." "We will continue to say things and continue to do things that China doesn't like, just as I assume that they will continue to do and say things that we

Xi's deal to slow fentanyl's flow into US unlikely to solve overdose crisis

Experts say new steps China has agreed to will eventually reduce the flow of the deadly opioid fentanyl into the US, but that alone will not stem the overdose crisis killing Americans at a record rate. President Joe Biden and Chinese President Xi Jinping announced at a meeting Wednesday in California that China is telling its chemical companies to curtail shipments to Latin America and elsewhere of the materials used to produce fentanyl, which is largely finished in Mexico and then smuggled into the US. China has also resumed sharing information about suspected trafficking with an international database. It's a step in the right direction because not doing this would be negligent, said Adam Wandt, an associate professor of public policy at John Jay College of Criminal Justice. If this is a diplomatic option that we did not take, every fentanyl death over the next decade would be on our heads. But he and others described the steps as necessary in addressing the overdose crisis in th

China seeks to be friends with US, won't fight 'hot war': Xi Jinping

Biden held a solo news conference after four hours of talks with Xi on the outskirts of San Francisco

Ready to join US multilateral initiatives, Xi invites Biden to join BRI

Chinese President Xi Jinping has invited his US counterpart Joe Biden to take part in his pet global initiative the BRI and expressed his readiness to take part in the Washington-backed multilateral cooperate initiatives. The Belt and Road Initiative (BRI) initiated by Xi in 2015 in which China is reported to have invested over a USD trillion has been widely criticised by the US, India and other countries as several countries including Sri Lanka and Pakistan, its biggest beneficiaries, reeled under mounting debt burden. The US, India and many of the EU countries are not part of the BRI. On the sidelines of the G20 Summit in New Delhi in September, Prime Minister Narendra Modi along with President Biden and other world leaders launched the India-Middle East-Europe Economic Corridor (IMEEC) to connect India, the Middle East and Europe with railways, shipping lines, high-speed data cables and energy pipelines. In his four-hour-long meeting with Biden on Wednesday on the sidelines of t

Handshakes, Fentanyl, and AI: Key takeaways from Biden- Xi summit

On the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco, Xi and Biden agreed to resume military-to-military communication and counter-narcotics cooperation

Xi is dictator: Biden firm on past remark as US-China seek to cool tensions

When Joe Biden made a similar dictator reference about Xi Jinping in June, China called the remarks absurd and a provocation.

Biden-Xi meet: US-China agree to restore some military communication

US President Joe Biden and Chinese President Xi Jinping have agreed to restore some military-to-military communications between their armed forces as the two leaders met for hours on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco. Both sides pledged cooperation that would bring the US and China closer to resuming regular talks under what's known as the Military Maritime Consultative Agreement, which until 2020 had been used to improve safety in the air and on the sea. A senior US official said after the Biden-Xi meeting ended that the military communication agreements mean that US Defence Secretary Lloyd Austin can meet with his Chinese counterpart once that person is named. The official spoke to reporters on condition of anonymity to discuss a private meeting. This also opens the door for agreements at less-senior levels, including that the commander of US Pacific forces in Hawaii can engage with counterpart theatre commanders, the official said. The

Not an option for US-China to turn their back on each other: Xi Jinping

The two leaders met on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation (APEC), in a bid to have the US and China to increase high-level communication amid continued tensions.

Biden, Xi meeting aimed at getting relationship back on better footing

Presidents Joe Biden and Xi Jinping head into their big meeting at a country estate on Wednesday hoping to stabilise US-China relations after a period of tumult, but the US president also is prepared to confront his counterpart on difficult issues such as trade, Beijing's burgeoning relationship with Iran and human rights concerns. The two leaders, who will meet on the sidelines of a summit of Asian-Pacific leaders, last spoke a year ago. Since then, already fraught ties between the two economic superpowers have been further strained by the U.S. downing of a Chinese spy balloon that had traversed the continental U.S. and over differences on the self-ruled island of Taiwan, China's hacking of a Biden official's emails and other incidents. The two leaders are in California for the annual Asia-Pacific Economic Cooperation forum, but will hold their one-on-one talks at Filoli Estate, a country house and museum about 25 miles (40 kilometers) south of San Francisco, according to three ...

Xi calls for economic exchanges with Taiwan before meeting with Biden

Xi urged more efforts "to facilitate economic exchanges and cooperation and advance integrated development in all fields across the strait," the official Xinhua News Agency reported