Adidas is more confident about sales this year as it notes stronger-than-expected demand for its products across the world, despite a boycott by consumers in mainland China. The German sportswear retailer expects currency-neutral sales to rise at a “high-teens” rate this year, with a “significant” acceleration already seen in the second quarter, the company said on […] Read more
China — Tesla faces mounting pressure in China as state media and regulators criticize the electric car maker following a woman’s protest at a major auto show this week. Tesla could be facing one of its worst public relations crises in China, a market investors see as critical for its growth. On Monday, a woman who claimed […] Read more
Huawei said Monday that U.S. sanctions on the company are partly to blame for the ongoing global chip shortage that’s the subject of a White House conference on Monday. Eric Xu, Huawei’s rotating chairman, said the sanctions imposed over the last two years on the Chinese tech company are, “hurting the global semiconductor industry” because they have […] Read more
China’s leadership in the digital currency space is turning a larger spotlight on U.S. initiatives, but similar efforts stateside aren’t likely any time soon. With its entry into the still-sparsely populated world of central bank digital currency, China takes a society that already leans heavily on electronic payments and mainstreams it. This also gives the […] Read more
The United States and Europe pledged deeper cooperation on countering China on Wednesday, with an agreement to start a formal US-European Union dialogue on the issue and a pledge by Nato to close ranks with “like-minded democracies” in the Asia-Pacific region. “We decided to continue meetings at the senior official and expert levels on topics […] Read more
BEIJING — China has recovered so rapidly from the coronavirus pandemic that authorities are pulling back support for the economy more quickly than they did following the 2008 financial crisis, according to Allianz. Back then, massive Chinese stimulus helped boost growth worldwide. This time, China’s focus on tackling problems at home will not provide the […] Read more
Agriculture Secretary Tom Vilsack believes China is making good on promises it made as part of the landmark phase one trade deal it signed with the U.S. last year. Vilsack said that the deal allows for market conditions to dictate how much Beijing is required to purchase from U.S. farmers. The Covid pandemic, he added, would […] Read more
China dethroned the U.S. last year to become Europe’s top trading partner for the first time, data from the European statistics office has shown. European Union exports to China grew by 2.2% last year and imports rose by 5.6%. In comparison, exports to the U.S. dropped by 8.2% and imports fell by 13.2%. The latest figures, […] Read more
Secretary of Defense Lloyd Austin will meet with members of the world’s most powerful military alliance on Wednesday for the first time since joining the Biden administration. NATO meets Wednesday and Thursday to discuss an array of challenges facing the 30-member group. The virtual meetings will be a glimpse into President Joe Biden’s foreign policy […] Read more
Sinovac Biotech said on Saturday that its unit’s Covid-19 vaccine has been formally approved for use by the general public by China’s medical products regulator. It marks the second Covid-19 vaccine green-lighted for public use in China, after a shot developed by a Beijing institute affiliated to state-owned China National Pharmaceutical Group (Sinopharm) was approved in […] Read more
