The shrinking of the middle class has been frequently cited in articles and public debates. Wages have been stagnant for decades. Families are struggling with financial insecurity. But what is the middle class exactly and is it shrinking? These questions can be difficult to answer, so we are going to start with some data. America’s middle class ...
Not taking it lying down, Australians call for a boycott of Chinese businesses. Around 41 wineries and vineyards have called for boycotting of all China-owned businesses in the country after Beijing imposed severe restrictions on Australian businesses. The call for a boycott by the wineries soon attracted Internet attention and other Australians also joined in ...
Chinese electric car battery maker CATL has signed a US$4.7 billion deal with German car manufacturer BMW to build an electric car battery manufacturing plant in the European nation to service its next generation of electric cars. The move also underlines China’s growing ambitions to dominate Europe’s electric car industry. CATL’s electric car battery manufacturing ...
The Hong Kong police recently arrested 15 people for manipulating the stock price of Next Digital, the publisher of tabloid-style newspaper Apple Daily. Last month, authorities arrested the owner of Apple Daily, Jimmy Lai, under the newly implemented National Security Law. Killing Hong Kong’s economy Among the arrested were 14 men and one woman. According ...
The COVID-19 outbreak has forced many companies to secure COVID-19 screening systems for use on their premises to identify potentially infected employees and to safeguard those who are not infected. However, it seems some American companies are sourcing such equipment from Chinese manufacturers that are known to be linked to human rights abuses against Uyghur ...
An iPhone contract manufacturer for Apple is apparently trying to relocate almost 6 production lines from China to India. The decision is expected to cater to the demand of the local Indian population as well as export markets like the U.S. iPhones manufactured in India Once the new production lines are set up, almost US$5 ...
The Chinese Communist Party (CCP) is co-opting elites in Europe to increase its influence in the region, warns a recent report published by the think-tank Center for Strategic and Budgetary Assessments (CSBA). For this purpose, Beijing is setting up Friendship Association (FA) groups throughout Europe that bring the elites close to communist ideology. Friendship infiltration ...
In an interview with Fox Business News, U.S. President Donald Trump predicted that Hong Kong will soon lose its status as an economic powerhouse due to the city being under the control of the Chinese Communist Party (CCP). He believes that the Hong Kong markets will “go to hell” and that nobody would want to ...
The COVID-19 outbreak has put many people under financial pressure. Since financial institutions have tightened lending, people are unable to get credit to make it through these difficult times. However, the shadow banking (informal lending) industry in China has seen remarkable growth in the first quarter of this year, according to a report by credit ...
Citing national security concerns, President Trump issued an executive order (EO) on August 6, 2020, to prohibit any U.S. company or person from transacting with ByteDance, the Chinese parent company of TikTok and messaging app WeChat. The executive orders take effect within 45 days, after which the U.S. Secretary of Commerce, Wilbur Ross, will further ...
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