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Russia-Ukraine conflict, US-China frictions dominate G20 summit in Bali

Discord over Russia's war on Ukraine and festering tensions between the US and China are proving to be ominous backdrops for world leaders gathering in Indonesia's tropical Bali island for a summit of the Group of 20 biggest economies starting Tuesday. With recession looming as central banks fight decades-high inflation partly brought on by the war, US Treasury Secretary Janet Yellen said that ending the conflict would be the "single best thing that we can do for the global economy." British Prime Minister Rishi Sunak, writing in the newspaper The Telegraph, called Russia a "rogue state" and slammed its president, Vladimir Putin, for staying away. "Leaders take responsibility. They show up. Yet, at the G-20 summit in Indonesia this week, one seat will remain vacant," wrote Sunak, who took office last month. "The man who is responsible for so much bloodshed in Ukraine and economic strife around the world will not be there to face his peers. He won't even attempt to explain his ...

Chip curbs: Biden has outdone Trump in forcing the world to align on China

That's not just a challenge to Beijing, but also asks tough questions of allies - and presents Washington with a dilemma over how far it's willing to squeeze them to comply.

G20 Summit: US President Biden to meet China's Jinping in Bali on Nov 14

US President Joe Biden would meet his Chinese counterpart Xi Jinping on November 14 on the sidelines of the G-20 Summit in Indonesia during which they will discuss ways to work together where their interests align, especially on transnational challenges that affect the international community, the White House announced on Thursday. The meeting comes amid the fractious relationship between the two nations. The Leaders will discuss efforts to maintain and deepen lines of communication between the United States and the PRC (People's Republic of China), responsibly manage competition, and work together where our interests align, especially on transnational challenges that affect the international community, White House Press Secretary Karine Jean-Pierre said. The two Leaders will also discuss a range of regional and global issues, Pierre said. This would be their first in-person meeting after Biden became the US President in January 2021. The two leaders have spoken over the phone as m

US, China meet for climate talks as Xie says door is open on his side

Both men are interested in resuming talks on curbing methane, combating deforestation and accelerating the green transition, according to people familiar with the matter

Apple built its empire with China. Now its foundation is showing cracks

Lawmakers' objections to an obscure Chinese semiconductor company and tough Covid-19 restrictions are hurting Apple's ability to make new iPhones in China

South Korea, US discuss impact of semiconductor export controls on China

South Korea and US discussed the impacts of Washington's restrictions on exports of advanced semiconductor equipment to China and ways to resolve related uncertainties, Seoul's industry ministry said

Why the US cannot match China's industrial heft on EVs, batteries

Instead of focusing on manufacturing - its biggest weakness - the US Department of Energy has backed firms that will process lithium, "demonstrate new approaches" and recycle powerpacks

Boeing offers 737 Max jets to Air India amid US-China trade tensions

Boeing Co. is offering 737 Max jets once slated for Chinese customers to Air India Ltd. as the planemaker tries to offload some of the roughly 140 aircraft it's currently not allowed to deliver

US in 'decisive decade' in competition with China: NSA Jake Sullivan

The US has entered a "decisive decade" as it confronts its competition with China while facing challenges from climate change to energy to food security, international terrorism and disease, National Security Advisor Jake Sullivan said on Wednesday as the Biden administration unveiled its national security strategy. The Biden administration on Wednesday released its national-security strategy that serves as a reference point for officials to coordinate policies across the government. Speaking ahead of the document's official release, Sullivan said the fundamental premise of the strategy is that the US has entered a decisive decade with respect to two fundamental strategic challenges. "The first is the competition between the major powers to shape the future of the international order. And the second is that while this competition is underway, we need to deal with a set of transnational challenges that are affecting people everywhere, including here in the United States -- from clima

Joe Biden's global strategy tackles China, Russia, domestic needs

The White House laid out a national security strategy Wednesday aimed at checking an ascendant China and a more assertive Russia even as it stressed that domestic investments are key to helping the US compete in the critical decade ahead. The administration's first national security strategy, a document required by statute, stresses the need for a foreign policy that balances the interests of global allies with those of middle-class Americans. We understand that if the United States is to succeed abroad, we must invest in our innovation and industrial strength, and build our resilience, at home, the strategy states. Likewise, to advance shared prosperity domestically and to uphold the rights of all Americans, we must proactively shape the international order in line with our interests and values. In broad brushstrokes, the strategy sketches a decisive moment for national security, as President Joe Biden faces an arguably more complicated world than when he took office 21 months ago

US-China chip war wipes out $240 billion as stocks plunge; TSMC slips 8.3%

The Biden administration measures erect barriers of entry to China's market by limiting the ability of US firms to sell equipment and tech to their Chinese counterparts

Nasdaq falls as US export controls on China weigh on chip stocks

US bond market shut for Columbus Day holiday; S&P 500 tech sector leads declines

China slams US for export controls on chips, calls it violation of rules

China on Saturday criticized the latest U.S. decision to tighten export controls that would make it harder for China to obtain and manufacture advanced computing chips, calling it a violation of international economic and trade rules that will isolate and backfire on the U.S. Out of the need to maintain its sci-tech hegemony, the U.S. abuses export control measures to maliciously block and suppress Chinese companies, said Foreign Ministry spokeswoman Mao Ning. It will not only damage the legitimate rights and interests of Chinese companies, but also affect American companies' interests, she said. Mao also said that the U.S. weaponization and politicization of science and technology as well as economic and trade issues will not stop China's progress. She was speaking after the U.S. on Friday updated export controls that included adding certain advanced, high-performance computing chips and semiconductor manufacturing equipment to its list, as well as new license requirements for ite

US aims to hobble China's chip industry with sweeping new export rules

The raft of measures could amount to the biggest shift in U.S. policy toward shipping technology to China since the 1990s

Apple's tech supply chain shows difficulties in cutting dependence on China

Bloomberg Intelligence estimates it would take about eight years to move just 10% of Apple's production capacity out of China, where roughly 98% of the company's iPhones have been made

Wall Street banks review contingency plan as China-Taiwan tension escalates

While financial services executives said they view the risk of armed conflict in North Asia as low, they see tit-for-tat sanctions between the US and China that disrupt the flow of finance and trade

US forces will defend Taiwan against China invasion, says Joe Biden

Reacting to Biden's interview with CBS News, Chinese Foreign Ministry spokesperson Mao Ning said the remarks seriously violated the 'one China' policy and three joint communiques related to Taiwan

Tech rivalry with US is adding headwinds to China's troubled stock markets

From biotech to electric vehicles, shares of China's key manufacturers have seen heavy selling recently as US initiatives to secure domestic supply chains and solidify its industrial superiority

China sanctions Boeing, Raytheon executives for Taiwan arms deal

Previous sanctions by China have restricted people from entering China, Hong Kong or Macau, or doing business there, measures that would likely have little effect on Colbert or Hayes

A new space race? China rivalry adds urgency to US' return to moon

It's not just rocket fuel propelling America's first moonshot after a half-century lull. Rivalry with China's flourishing space program is helping drive NASA's effort to get back into space in a bigger way, as both nations push to put people back on the moon and establish the first lunar bases. American intelligence, military and political leaders make clear they see a host of strategic challenges to the US in China's space program, in an echo of the US-Soviet rivalry that prompted the 1960s' race to the moon. That's as China is quickly matching US civil and military space accomplishments and notching new ones of its own. On the military side, the US and China trade accusations of weaponizing space. Senior US defense officials warn that China and Russia are building capabilities to take out the satellite systems that underpin US intelligence, military communications and early warning networks. There's also a civilian side to the space race. The US is wary of China taking the lead i