US announces major economic deal in Asia in effort to boost image and counter China

TOKYO – In a move to raise its economic profile and create another balance for China within Asia, the United States on Monday announced the Indo-Pacific Economic Framework with Asian partners including Australia, Japan and the Republic of Korea. It is a broad plan designed to help expand US “economic leadership” in the Indo-Pacific region. … Read more

Why China is likely to recover more slowly from the latest COVID shock

As Shanghai tries to reopen businesses, the downtown area over the weekend prevented residents from leaving their apartment complexes again for mass virus testing. Pictured here, in another area on May 21, 2022, there is a line outside a mall. What is Kikia | China Optical Group | Getty Images BEIJING – Many economists predict … Read more

China is the second largest bitcoin mining hub despite Beijing’s ban

By September 2021, China made up just over 22% of the total bitcoin mining market, according to Cambridge University research. Paul Rateji | Washington Post | Getty Images Bitcoin Miners in China are not giving up despite Beijing’s ban on the practice. China was once the world’s largest cryptocurrency mining hub, accounting for 65% to … Read more

Countries ban food exports amid rising prices and inflation

India has banned wheat exports as grain prices soar this year due to the Russo-Ukrainian war. T. Narayan | Bloomberg | Getty Images India banned wheat exportsIt became the latest country to do so with grain prices soaring this year in part because of the Russo-Ukrainian war. The war caused a sharp rise in wheat … Read more

Some factories may leave China, but the big picture doesn’t matter

China still holds the cards for global supply chains, whether or not the Covid shutdown frustrates businesses in the near term. An employee works on a 5G smartphone screen production line at a factory on May 13, 2022 in Ganzhou, Jiangxi Province, China. Zhou Haiping | China Optical Group | Getty Images BEIJING – China … Read more