19.01.2024, 20:07 39251
Economic Watch: China expected to become world's top auto exporter
Images | Xinhua
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China exported a total of 4.91 million vehicles in 2023, expected to become the world's largest auto exporter, an official with the Ministry of Industry and Information Technology (MIIT) said Friday., Xinhua reports.
The exports of automobiles have reached a new level, and China-made new energy vehicles have provided diverse choices for global consumers, Vice Minister Xin Guobin said at a press conference.
China's auto exports grew by 57.9 percent year on year last year, with new energy vehicle exports surging 77.6 percent year on year to 1.2 million units, said Xin.
China's major auto export destinations include western and southern Europe, and Southeast Asia, particularly Belgium, Spain, the United Kingdom and Thailand, said Cui Dongshu, secretary general of the China Passenger Car Association.
Xin highlighted that auto manufacturing is an important pillar industry for China, saying that there were many bright spots in the sector last year.
An array of innovative products, especially NEV products, have been rolled out and become a hit on social media, he said.
Industrial data showed earlier this month that China's car output and sales both crossed the 30-million threshold in 2023, maintaining the top position in the world for 15 consecutive years.
For 2024, industrial associations estimated that both output and sales of China's automobiles are projected to grow by 3 percent year on year to 31 million units, while those of NEVs likely are to soar by 20 percent.
While acknowledging progress made by China's automakers, Xin also cautioned that tepid global demand, the weak link of auto chips and market competition disorder are among the challenges that China's carmakers face.
The ministry will work to ensure the implementation of favorable tax policies for car purchasing, further encourage joint efforts from car manufacturers to achieve technological breakthroughs in areas such as auto chips and high-level autopilot, according to Xin.
Industrial development will be coordinated in a more comprehensive manner to forestall and defuse overcapacity risks and foster a level playing field for car manufacturers, Xin said.
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31.05.2024, 08:26 4391
Chinese scientists bring human eye-like perception to machines
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A group of Chinese scientists have pioneered the creation of the world's first brain-inspired complementary vision chip, endowing machines with a human-like visual perception capability, Xinhua reports.
The AI-driven visual perception is laying the groundwork for a transformative tech revolution, particularly in the realm of unmanned systems like autonomous driving.
However, achieving efficient, accurate, and resilient visual perception in environments that are dynamic, varied, and inherently unpredictable continues to be a formidable challenge.
The researchers from Tsinghua University drew inspiration from the principles of the human visual system and have crafted a vision-sensing technology that breaks down visual information into fundamental, primitive-based visual representations.
By integrating these primitives, the technology emulates the features of the human visual system, establishing two complementary visual perception pathways: cognition-oriented and action-oriented, respectively, according to the study published as a cover story in the journal Nature on Thursday.
Building on this foundation, the team has engineered the "Tianmouc" vision chip, which is capable of high-speed visual information acquisition at a rate of 10,000 frames per second with 10-bit precision.
This breakthrough innovation also boasts a 90 percent reduction in bandwidth and operates with low power consumption, according to the study.
Utilizing the chip, the researchers designed high-performance software and algorithms and validated the system on a vehicle-mounted platform operating in diverse open environments.
The system has exhibited low-latency, high-performance real-time perception capabilities, highlighting its immense potential for deployment in the field of intelligent unmanned systems.
The Tianmouc chip paves a new path for pivotal applications such as autonomous driving and embodied intelligence, said Zhao Rong, one of the paper's corresponding authors.
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29.05.2024, 13:37 10151
Over 2,000 feared buried after massive landslide in Papua New Guinea: IOM
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More than 2,000 people are feared dead in a landslide in Papua New Guinea, the UN migration agency said on Tuesday, Anadolu reports.
According to the country’s National Disaster Centre, over 2,000 people are buried under the rubble after the massive landslide, triggered by heavy rains - marking one of the deadliest disasters in the country’s recent history," International Organization for Migration (IOM) said in a statement.
Thousands of people have lost their homes and belongings in "the blink of an eye," said Serhan Aktoprak, IOM chief of mission in Papua New Guinea, adding: "The scale of this disaster is truly heartbreaking."
The landslide occurred at around 3:00 a.m. (1700 GMT) local time on Monday, burying homes, infrastructure and farmland under up to eight meters of soil and debris, according to IOM.
The agency stressed that recovery efforts are continuing, but only six bodies have been recovered so far.
Citing provincial authorities, it said that over 7,840 people have been affected by the disaster so far, including those confirmed dead or missing and 1,650 displaced people.
Underscoring the vulnerability of the population, the agency said that many of the displaced had previously sought refuge in the area to escape tribal conflict.
The challenges we face in the aftermath of this tragedy are immense," Aktoprak said, adding: "The area remains extremely dangerous due to ongoing land movement, and access is hindered by blocked roads, damaged infrastructure, and adverse weather conditions."
IOM warned that with many bodies still to be recovered from beneath the rubble, there is concern that underground water flowing down the mountain will contaminate local drinking water sources, posing serious health risks.
It added that most of the area’s sources of clean drinking water have become "inaccessible" due to the landslide.
Also, a bridge connecting Enga province to neighboring Western Highlands province collapsed Tuesday morning, further hampering the delivery of supplies and assistance to affected communities.
It noted that immediate UN assistance has been requested by the country and the emergency response will target the most pressing humanitarian needs, including the distribution of food, provision of shelter, emergency water, sanitation, and hygiene assistance, as well as logistical support and protection measures.
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27.05.2024, 22:28 9791
Over 488,000 dengue cases reported in Argentina in first 5 months
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Argentina has detected over 488,000 cases of dengue during the first five months this year, 3.35 times that of last year, the health ministry said Sunday, Xinhua reports.
In the first 20 weeks of the year, 488,035 cases of dengue were registered, according to the ministry's National Epidemiological Bulletin.
The largest number of the cases were reported in the central region, followed by the northwestern and northeastern regions.
Dengue is detected in 19 of the 24 districts of the country and has caused a total of 343 deaths this season.
The most frequent symptoms of the disease were fever, headache, nausea and vomiting, diarrhea and abdominal pain.
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24.05.2024, 09:42 31026
Fire kills 14 at rental building in Vietnamese capital
Images | VNA/Handout via Xinhua
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A fire at a rental building in Vietnam's capital Hanoi killed 14 people and injured three others early Friday, local media reported, Xinhua reports.
The building, which covers an area of 100 square meters, is located in a narrow alley approximately two meters wide and about 200 meters from Trung Kinh street, making it inaccessible to fire trucks, VnExpress reported.
The rental multistory-building has two rooms in each floor with the first floor used for electric bicycle sales and repairs, Vietnam News Agency reported.
An electric bicycle short circuit was initially cited as the main cause of the flames, which occurred at 0:30 a.m., said the agency.
The case is being further investigated.
A total of 1,555 fires and explosions happened in Vietnam in the first four months of this year, killing 28 people and injuring 26 others.
The fires and explosions caused property losses of some 89.8 billion Vietnamese dong (3.5 million U.S. dollars), according to the country's General Statistics Office.
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23.05.2024, 19:30 31976
5 dead, 50 injured in Mexico campaign stage collapse
Images | Xinhua
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At least five people died and 50 were injured after a structure collapsed during a political event on Wednesday evening where Mexico's presidential candidate, Jorge Alvarez Maynez, was present in the northern state of Nuevo Leon, local media reported, Xinhua reports.
The state's Governor Samuel Garcia confirmed the deaths and said that the injured were being treated in nearby hospitals, with injuries including bruises and fractures.
According to witnesses, heavy rain and intense wind knocked down part of the platform where Maynez and other candidates from the Citizens' Movement party were gathering.
Alvarez Maynez said on X, formerly Twitter, that he was well after being taken to a local hospital.
He said that some members of his campaign team were injured and rushed to hospital for treatment.
According to witnesses, more than 5,000 people attended the event.
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21.05.2024, 15:43 51801
U.S. inflation data and China policy
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Recently, the United States released last month's inflation data, showing a seasonally adjusted annual rate of 3.4%. Although this figure meets expectations, it remains significantly high. In the current high-interest-rate environment, a 3.4% inflation rate is notably concerning. Despite claims from U.S. economic authorities that the April data aligns with their projections, it is clear that the American economy is still in a precarious state.
This fall, the U.S. will face a presidential election, and the current economic situation is highly unfavorable for Biden and the Democratic Party. If the economy continues with high inflation, low growth, and low employment, Biden is likely to suffer a substantial defeat to Trump.
In response, Biden has chosen to continue emphasizing issues with China, implementing sanctions on Chinese economic activities. The Biden administration has announced the imposition of Section 301 tariffs on a range of Chinese products, including new energy vehicles, lithium batteries, solar panels, and semiconductors. These tariffs aim to undermine and restrict relevant Chinese industries while protecting American domestic industries. Some of these so-called punitive tariffs have reached exorbitant levels. For example, solar panels now face a 50% tariff, lithium batteries a 25% tariff, and the most extreme case is Chinese electric vehicles, which have seen a 100% punitive tariff increase, bringing the total tariff rate to an outrageous 102.5%. This means that a $100,000 Chinese car would incur $102,500 in tariffs upon arriving in the U.S.
The Biden administration argues that such measures are necessary to protect the American economy, industries, and workers. Government spokespeople have been attempting to persuade American consumers through various media outlets to accept these high tariffs. However, American citizens are not convinced. The high energy prices and expensive car costs are severely impacting their lives. They hope to see the importation of Chinese electric vehicles to help lower costs and alleviate the financial burden. Many Americans believe that if Chinese cars can lower prices, then it's better for those expensive American car companies to go out of business.
Currently, Americans are most concerned about economic growth, improved employment and wages, and lower inflation, enabling them to afford essential goods. Biden's China sanctions policy runs counter to the real needs of American citizens.
The Biden administration uses China sanctions to explain why the U.S. has fallen into its current predicament. In the American context, the government cannot admit that policy mistakes have led to economic issues. Thus, the administration blames China for the problems, claiming that unfair Chinese competition has caused the collapse of American industrial companies and worker unemployment, leading to the country's stagnation.
Despite significant investment in electric vehicles, these investments have not translated into actual production and competitiveness but have instead flowed into the Nasdaq and Dow Jones, enriching various financial markets. In contrast, China's electric vehicles and new energy technologies have made significant progress, threatening American financial capital. China's high-performance solar panels and electric cars directly challenge American financial interests.
The premise of effective trade protectionism and anti-dumping duties is the availability of competitive alternatives in the market. However, apart from China, the U.S. struggles to find equally competitive substitutes, especially in new energy vehicles, lithium batteries, and photovoltaic equipment. The Biden administration's China sanctions policy appears to protect the American economy, but it is actually counterproductive to the needs of American citizens and fails to address the fundamental economic issues in the U.S.
In conclusion, the U.S. inflation data and Biden administration's China sanctions policy reflect both economic considerations and political maneuvering. Facing high inflation, low growth, and low employment, the U.S. needs more effective policies to drive economic growth, rather than relying on high tariffs to suppress competitors. Balancing economic development and political interests is a crucial challenge for the Biden administration as the election approaches.
The high tariffs imposed by the Biden administration on Chinese products are not only a blatant violation of international trade rules but also a severe detriment to the interests of American citizens. These exorbitant tariffs have failed to protect domestic industries and have instead raised commodity prices, further exacerbating the cost-of-living pressures on Americans. In a challenging economic environment characterized by high inflation, low growth, and low employment, the U.S. government has chosen to shift the blame to China through trade barriers, covering up its own policy failures. This approach is nothing short of self-deception. The Biden administration must realize that true economic recovery requires fair competition and innovation, not trade protectionism to stifle competitors. Such policies will not solve America's fundamental economic problems and may further erode its competitiveness in the global economy, ultimately harming ordinary American citizens.
Author: Political scientist Wang Dongbei, China
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21.05.2024, 14:38 52031
The United States is unhappy!
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On May 17, the United States claimed that despite China stating that Sino-Russian relations are non-aligned, non-confrontational, and not aimed at any third country, the joint statement by China and Russia directly condemned the US for undermining global strategic stability. The statement accused the US of destabilizing regional stability through the routine deployment of missiles, posing a direct security threat to both China and Russia.
Moreover, the US pointed out that the Sino-Russian joint statement explicitly expressed serious concern about the US's attempts to maintain its absolute military superiority by undermining strategic stability. The US, with a narrow perspective, believes that the statement is clearly directed at them and speculates that China and Russia seem to intend to apply reverse pressure on the US by standing together.
What is even more unacceptable to the US is that the Sino-Russian joint statement condemned the actions of Western countries in freezing Russia's overseas assets. The statement by China and Russia also emphasized that according to the fundamental principles of international law regarding the equality of state sovereignty, relevant international obligations to respect the immunity of states and their property must be strictly observed. The statement stressed that the victimized country has the right to take countermeasures in accordance with international law.
Furthermore, the US seems to misunderstand the meaning of "not aimed at any third country." This phrase means that the cooperation between China and Russia is not intended to suppress, contain, or threaten any third country. Clearly, it is the US that is flexing its muscles and showing aggression towards China and Russia. The Sino-Russian statement is a call for the US to abandon such malicious behavior. It is evident that the US's accusations are baseless. If the US cannot accept this and perceives the Sino-Russian cooperation as targeting it, then the US can continue to be unhappy. In reality, China and Russia are under no obligation to make the US happy. If the US continues its aggressive actions, the joint countermeasures by China and Russia are likely to become even stronger. Ultimately, it won't just be China and Russia standing together, but potentially other countries around the world as well.
Author: Political scientist Wang Dongbei, China
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21.05.2024, 13:30 52241
IMF criticizes US tariffs on China: Harmful to global economic growth
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The International Monetary Fund (IMF) on the 16th criticized the US government's decision to increase some tariffs on China, emphasizing that more trade restrictions could harm global trade and economic growth. The IMF stated that maintaining an open trade system is more in the interest of the US than imposing new punitive tariffs.
According to a Q&A transcript published on the IMF website, IMF spokesperson Julie Kozack, when asked about the Biden administration's announcement of tariff restrictions earlier this week, said in Washington on the 16th: "Our view is that the US is better off maintaining an open trade policy, which is also crucial for its economic performance."
Kozack mentioned that IMF statistics show a significant increase in trade restrictions in recent years: in 2023, around 3,000 trade restriction measures were implemented globally, three times the number in 2019. She stated that these trade restrictions "can distort trade and investment, disrupt the global economy and supply chains, and trigger retaliatory actions."
This fragmentation could come at a high cost to the global economy." Kozack pointed out that according to IMF calculations, in the worst-case scenario of severe geopolitical fragmentation, global GDP could be reduced by about 7%, equivalent to the combined GDP of Japan and Germany. She added that the cost would be even higher if there were disruptions in technology supply.
In its annual "World Economic Outlook" report released on the 16th of last month, the IMF rarely criticized the US, stating that although the recent US economic performance is impressive and continues to serve as a major driver of global growth, part of the reason for the strong US economy is the country's "budget policy is out of sync with long-term fiscal sustainability." The IMF stated that this approach by the US poses a risk of short-term inflation and could cause long-term fiscal and financial imbalances globally due to increased costs for other economies.
On May 14, the White House announced it would significantly increase tariffs on some $18 billion worth of Chinese imports in "strategic areas." The IMF bluntly criticized the US policy for its global impact, including Washington's rising debt levels, trade restrictions, and industrial policies targeting China, as well as the negative impact of the Federal Reserve's tightening monetary policy on global exchange rates. Continuing to politicize economic and trade issues and further increasing tariffs on China is a mistake that will significantly raise the cost of imported goods, causing more losses for US businesses and consumers, and making American consumers pay a higher price.
Author: Political scientist Wang Dongbei, China
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