August marked another gloomy time for China’s auto industry as car sales dropped for the third straight month, Bloomberg reports. Sales of personal cars, SUVs, and multipurpose vehicles fell by 7.4% year-on-year to 1.76 million units last month, according to the China Passenger Car Association. This follows July’s 5.4% year-on-year drop and drags down the […]
Category: Consumer
President Donald Trump issued another tariff threat to China over the weekend, this time floating the possibility of slapping tariffs on essentially the entire value of Chinese imports into the US should Beijing refuse to make concessions. Speaking aboard Air Force One, Trump said that he would be willing to hit a further $267 billion […]
Chinese business magnate Jack Ma has confirmed that he will be stepping down as chairman of the board of e-commerce giant Alibaba, with incumbent CEO Daniel Zhang set to replace him, CNBC reports. In a note addressed to the company’s shareholders and customers, Ma wrote that he will maintain the post of executive chairman for […]
This should have been a good week for Those in Command in Beijing. Washington was in turmoil and the African summit in the Chinese capital was an opportunity to solidify China’s position as the dominant power in terms of what used to be called the “Third World.” But it has been instead, on balance, another […]
Chinese officials have pledged that the country will, as on previous occasions, retaliate to any further protectionist measures used by the United States, as global markets ready themselves for tariffs on another $200 billion of Chinese goods. Chinese commerce ministry spokesman Gao Feng told reporters that “if the United States, regardless of opposition, adopts any […]