Biden has an eye on China as he heads to South Korea, Japan

WASHINGTON (AP) – President Joe Biden departs on a six-day trip to South Korea and Japan aiming to build rapport with the two nations’ leaders while also sending an unmistakable message to China: Russia’s faltering invasion of Ukraine should give Beijing pause about its own saber-rattling in the Pacific. Biden departs Thursday and is set … Read more

EXPLAINER: Why is Wall Street close to a bear market?

NEW YORK (AP) – The bears are rumbling toward Wall Street. The stock market’s skid this year has pulled the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to … Read more

Biden’s burdens grow: Sagging global economy adds to US woes

WASHINGTON (AP) – As President Joe Biden embarks for Asia on Thursday, he’s facing a new risk at home for the economy and his Democratic Party: a global slowdown caused by Russia’s invasion of Ukraine and the pandemic shutting down Chinese cities and factories. The world economy can’t cast US ballots. But it’s a hidden … Read more

China’s harsh lockdowns could exacerbate population crisis

And so when a Shanghai family refused to be taken from their home into government quarantine during the city’s sixth week of lockdown, a police officer warned them with what he thought would be a powerful threat to bring them to heel – their children’s future. “If you do not obey the orders from the … Read more

China blockchain explainer: What is BSN?

China has made blockchain technology a strategic priority. Blockchain-based Service Network, or BSN, is part of its efforts to boost its capabilities in the sector. Yuichiro Chino | Moment | Getty Images Chinese President Xi Jinping has declared that his country needs to “seize the opportunities” presented by blockchain technology. In a speech in 2019, … Read more

Biden names envoy to SE Asia bloc, stressing US attention

WASHINGTON (AP) – President Joe Biden announced on Friday that he’s nominating one of his top national security aides as ambassador to the Association of Southeast Asian Nations, aiming to underscore his administration’s commitment to the Pacific region. Biden announced his decision to nominate Yohannes Abraham, chief of staff to the White House National Security … Read more

Recession Fears Loom Large Over Bullish Oil Market

The price of gasoline in the US hit an all-time high on Tuesday as the national average spiked $ 0.17 / gallon from last week to $ 4.37 / gallontopping the previous all-time high set March 8. The European Union’s discussion of pulling back from buying Russian oil has sent additional shock waves through an … Read more

Catholic cardinal, others arrested on Hong Kong security law

HONG KONG (AP) – A 90-year-old Roman Catholic cardinal, a singer and at least two others have been arrested in Hong Kong on suspicion of colluding with foreign forces to endanger China’s national security, in an action widely condemned as a further sign of Beijing’s erosion of rights in the city. The arrests further expand … Read more

Tesla’s China sales dive 98% in April amid Shanghi lockdowns

Hong Kong CNN Business – Car sales saw a record decline last month in China, the world’s largest automobile market, as strict Covid-19 lockdowns take a severe economic toll. And no auto maker suffered more than Tesla. The EV maker sold 1,512 vehicles in mainland China last month, down 98% from March, according to data … Read more

Is This The Most Disruptive Event Ever For US Solar?

As much as 17.5 gigawatts (GWac) of planned US solar capacity installations in 2022 are in doubt after the Department of Commerce (DOC) opened an investigation into panel imports from southeast Asia, Rystad Energy research shows. The US was expected to install 27 GWac of solar energy capacity in the utility, residential, and commercial and … Read more