asia
U.S. Secretary of State Antony Blinken and his Chinese counterpart Wang Yi began talks on Friday in Beijing, with agenda items expected to include China's alleged support for Russia's defense industry as well as tensions around Taiwan and the South China Sea. Blinken, who returned to the Asian country for the first time in 10 months, is also likely to raise U.S. concerns about Beijing's overcapacity in electric vehicles and other industries. He may meet with Chinese President Xi Jinping later in the day. His three-day China visit through Friday is part of the two countries' efforts to stabiliz...
Kyodo News
The Beijing motor show reopened on Thursday after a four-year hiatus, featuring the latest electric vehicle models from major automakers worldwide, amidst intensifying competition in the world's largest auto market for new energy vehicles. Nissan Motor Co. unveiled four new energy concept vehicles at the auto show, with President and CEO Makoto Uchida vowing the company's commitment to a "China-tailored strategy." Toyota Motor Corp. displayed two new battery EV models to be sold in the Chinese market within a year as part of its approach to achieving carbon neutrality. The automaker said its e...
Kyodo News
Strong aftershocks continued to rattle Taiwan on Tuesday after a deadly earthquake claimed the lives of 17 people in the island's eastern county of Hualien in early April, but there were no reports of casualties following the latest temblors. The aftershocks in the early hours of Tuesday registered magnitudes of 6.0 and 6.3, respectively, leaving at least two multistory buildings that had been unoccupied in Hualien partially collapsed and tilted. Another quake registering a magnitude of 5.8 occurred in the morning. Tuesday's quakes prompted the Hualien county government to announce the closure...
Kyodo News
North Korea has conducted "a power test of a super-large warhead" for a cruise missile and a test launch of its new anti-aircraft missile in the Yellow Sea, Pyongyang's state-run media reported Saturday. The country's Missile Administration said the test of a warhead for the Hwasal-1 Ra-3 strategic cruise missile and test-firing of the Pyoljji-1-2 new-type anti-aircraft missile were conducted Friday afternoon as "part of the regular activities" for the rapid development of technologies related to new-type weapon systems. The tests "had nothing to do with the surrounding situation," according t...
Kyodo News
Chinese Foreign Minister Wang Yi on Thursday warned against attempts to create rifts in the Indo-Pacific region, apparently taking aim at a recent trilateral summit between the United States, Japan and the Philippines. "We must be highly vigilant about various small circles formed in the region and oppose any attempt to create confrontation" between groups of nations, Wang Yi told reporters after his talks with his Indonesian counterpart Retno Marsudi, stressing the need for the two countries to work to maintain peace and stability in the region. Last week, U.S. President Joe Biden, Japanese P...
Kyodo News
Chinese President Xi Jinping, in talks with German Chancellor Olaf Scholz in Beijing on Tuesday, emphasized the "huge potential for win-win cooperation" between the world's second- and third-largest economies and urged vigilance against rising protectionism, China's state-run media said. The Chinese leader stressed the need to view the issue of production capacity "objectively and dialectically from a market-oriented and global perspective," the official Xinhua News Agency said, referring to Western nations' concerns over Beijing's overproduction of items, including electric vehicles. Xi claim...
Kyodo News
China's economy in the January-March period grew a real 5.3 percent from a year earlier, official data showed Tuesday, with the pace of expansion accelerating from the previous quarter despite a prolonged slump in the property sector and weak demand. The increase in inflation-adjusted gross domestic product of the world's second-largest economy quickened from 5.2 percent in the previous three months. Beijing has set an ambitious growth target of around 5 percent for 2024 despite challenges including mounting local government debt.
Kyodo News
Developing Asian economies are projected to grow by 4.9 percent this year and in 2025, the Asian Development Bank said Thursday, citing robust domestic demand as well as continued recovery in goods exports and tourism. An expected decline in China's economy to 4.8 percent this year and 4.5 percent next year, driven by weak property market and fading domestic consumption growth, will be offset by more robust growth in South Asia and Southeast Asia, according to the Manila-based lender's latest outlook. India is forecast to maintain its position as a major growth engine in Asia due to strong inv...
Kyodo News
U.S. Treasury Secretary Janet Yellen said Monday Washington will not seek to decouple from China and that her latest visit to the Asian country has put bilateral economic ties on "a stronger footing" while urging Beijing to address its overcapacity in some industries. In a Beijing press conference to wrap up her visit to China that started Thursday, the first since July last year, Yellen said the world's two largest economies are "deeply integrated," and a wholesale separation would be "disastrous for both of our economies." "Even as we take actions to diversify our supply chains, we seek to p...
Kyodo News
U.S. Treasury Secretary Janet Yellen met with China's Vice Premier He Lifeng in Guangzhou on Friday during a six-day visit to the country amid intensifying rivalry between the two largest economies over such issues as what Washington considers overproduction of Chinese electric vehicles. Ahead of the meeting with the economic policy chief, Yellen said in the capital of Guangdong Province that Washington seeks a healthy economic relationship with Beijing that provides a level playing field for American workers and businesses, according to the Treasury Department. The department has said Yellen'...
Kyodo News
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