Business
The North Korean crisis, China’s censorship victory, an unlikely Chinese film and other stories
A North Korean crisis is at hand, what can China do to prepare?
Why you should care:
What a mess it is in matters concerning the Korean peninsula. North Korea refuses to yield on its nuclear ambitions, China remains non-committal on doing more to rein it in, and the United States has failed both in trying to prod Beijing into action and to bring defiant Pyongyang to its knees with sanctions. Crisis is at hand, experts say; the fallout from war – if it comes to that, unlikely as it seems – will be catastrophic. Worst-case scenarios range from an influx of refugees to nuclear contamination. What can China do to prepare? Is this a war any side can really afford to wage?
China’s beleaguered video sites cave to Communist Party’s controls
Why you should care:
Guess how many Chinese video sites have been shut and censored so far this year? Clue: deleted user comments number in the tens of millions. It’s little wonder the country’s commercially-minded platforms are now resorting to self-censorship and – horror of horrors – even offering to push Communist Party propaganda on their sites. Keep an open mind, think critically and stay alert, people.
China’s fastest-growing city leads for the 10th straight quarter
Why you should care:
Guess which city is the front-runner among China’s 25 provinces in leading the country’s economic growth? It recorded 10.5 per cent expansion in the first half of the year (compare this with China’s overall growth target of “around 6.5 per cent” this year). This city’s economic growth has remained consistent despite the political upheaval it has undergone in recent years. It was even where the Communist Party’s latest purge took place just this week; its party boss is now being investigated for corruption. What’s this city’s secret to its stellar growth performance?
The Chinese lawyer who vanished two years ago and the only man who’s seen him since
Why you should care:
Chinese human rights lawyer Wang Quanzhang went missing on July 10, 2015. That was a day after China’s “709 crackdown” began; the campaign saw hundreds of rights lawyers…
Business
Democrat Claims Musk is Undermining Spending Bill Due to China Restrictions – The Hill
A Democrat claims Elon Musk influenced the reduction of a spending bill due to its restrictions on China, suggesting his actions impacted the legislation’s progress and funding allocation.
Allegations Against Musk
A prominent Democrat has accused Elon Musk of deliberately sabotaging a significant spending bill in response to China-related restrictions. This accusation comes amid ongoing tensions between the U.S. and China, particularly regarding technology and trade policies. The claims suggest that Musk’s influence is affecting critical legislative processes, raising concerns among lawmakers about foreign influence in American politics.
Implications for Legislation
The potential ramifications of Musk’s alleged actions could be significant. As a major player in the tech industry, his decisions can sway public opinion and impact the economy. Lawmakers fear that if influential figures like Musk oppose necessary legislation, it might hinder efforts to address vital issues such as national security and economic stability.
Political Reactions
The controversy has sparked debates among both Democrats and Republicans, highlighting the intersection of technology and politics. Many are demanding greater transparency and accountability from tech giants. As the situation unfolds, lawmakers may need to reassess their strategies to ensure that essential legislation moves forward uninterrupted.
Source : Democrat accuses Musk of tanking spending bill over China restrictions – The Hill
Business
HSBC Chairman to Head Key UK Business Delegation to China
HSBC Chairman Mark Tucker will lead a UK business delegation to China next month to boost trade and investment, amid concerns over national security and improving UK-China relations.
HSBC Chairman Leads UK Delegation to China
HSBC Chairman Mark Tucker will lead a pivotal British business delegation to China next month, marking the first significant visit since 2018. The trip aims to enhance Chinese investment in the UK, guided by Chancellor Rachel Reeves. Tucker, a seasoned financier with extensive Asia experience, is regarded as essential in resetting UK-China relations.
Reviving Economic Dialogue
Tucker will accompany senior bankers in seeking to rejuvenate trade, specifically focusing on financial services. Although there are apprehensions among some UK lawmakers regarding national security threats posed by closer ties to Beijing, the UK Treasury spokesperson confirmed Chancellor Reeves’ upcoming discussions on economic cooperation in Beijing.
A Shift in UK-China Relations
Since suspending most dialogues following China’s imposition of a national security law in Hong Kong, UK-China relations have soured. Nevertheless, the Labour government is prioritizing improved ties with China, emphasizing investment opportunities. Reeves asserts the necessity of a pragmatic approach to benefitting national interests amid ongoing concerns voiced by some lawmakers about security risks.
Source : HSBC Chairman to lead pivotal UK business delegation to China
Business
Gordonstoun Severs Connections with Business Led by Individual Accused of Espionage for China
Gordonstoun school severed ties with Hampton Group over espionage allegations against chairman Yang Tengbo. He denies involvement and claims to be a victim of political tensions between the UK and China.
Allegations Lead to School’s Decision
Gordonstoun School in Moray has cut ties with Hampton Group International after serious allegations surfaced regarding its chairman, Yang Tengbo, who is accused of being a spy for the Chinese government. Known by the alias "H6," Mr. Tengbo was involved in a deal that aimed to establish five new schools in China affiliated with Gordonstoun. However, the recent allegations compelled the school to terminate their agreement.
Public Denial and Legal Action
In response to the spying claims, Mr. Tengbo publicly revealed his identity, asserting that he has committed no wrongdoing. A close associate of Prince Andrew and a former Gordonstoun student himself, Mr. Tengbo has strenuously denied the accusations, stating that he is a target of the escalating tensions between the UK and China. He has claimed that his mistreatment is politically motivated.
Immigration Challenges and Legal Responses
Yang Tengbo, also known as Chris Yang, has faced additional challenges regarding his immigration status in the UK. After losing an appeal against a ban enacted last year, he reiterated his innocence, condemning media speculation while emphasizing his commitment to clear his name. Gordonstoun, on its part, stated its inability to divulge further details due to legal constraints.
Source : Gordonstoun cuts ties with business chaired by man accused of spying for China
- Democrat Claims Musk is Undermining Spending Bill Due to China Restrictions – The Hill
- Dissolving a Company in China: A Comparison of General Deregistration and Simplified Deregistration
- China’s influence grows at COP29 climate talks as US leadership fades
- HSBC Chairman to Head Key UK Business Delegation to China
- China’s November 2024 Economy: Navigating Mixed Signals and Ongoing Challenges
- Ukraine war: 10% of Chinese people are willing to boycott Russian goods over invasion – new study
