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Spread the love ASIA: China has accused the G7 of “political manipulation” after it criticized Beijing over a range of issues. In a joint statement at the end of a three-day summit, leaders of the G7 countries urged China to “respect human rights and fundamental freedoms.” Experts generally agree that China has detained as many as a million Uyghurs and other Muslims and imprisoned hundreds of thousands more in its crackdown in Xinjiang, which began in 2017. There have been widespread reports of physical and psychological torture inside prisons and detention camps in the region. China denies the allegations. India’s industrial output growth was estimated at 134.4% in April from a year earlier, government data showed on Friday, a sharp recovery reflecting a base effect due to the pandemic lockdown that hit economic activity last year. According to government data, the industrial output index rose to 126.6 in April from 54.0 in April last year, when the lockdown ....
Spread the love ASIA: China’s factories slowed their output growth in April and retail sales significantly missed expectations as officials warned of new problems affecting the recovery in the world’s second-largest economy. Factory output grew 9.8% in April from a year ago, in line with forecasts but slower than the 14.1% surge in March, National Bureau of Statistics data showed on Monday. Retail sales, meanwhile, rose 17.7%, much weaker than a forecast 24.9% uptick and the 34.2% surge in March. In the factory sector, motor vehicle production growth fell sharply to 6.8% from 69.8%, due in part to the base effect as well as critical shortages of semiconductors used in car systems. ....
2/16/2021 6:31:00 AM GMT Asia China’s textile and clothing manufacturing suffered losses last year as US consumers and businesses moved away from Chinese labor. The apparel market in the US dropped -23% in 2020, marking a ten-year low. Asian competitors such as Bangladesh, India, Vietnam, and Cambodia saw a 42% rise in this sector last year as suppliers look to move beyond China. The US still has restrictions placed on cotton products produced in the Xinjiang Uygur region due to the clothing allegedly being made with forced labor, causing cotton-related imports to the US to drop by nearly -40%. A South Korean intelligence agency has reported that North Korean hackers have attempted to steal the formula for coronavirus vaccines. The hackers specifically targeted Pfizer, but some experts are stating the hackers were motivated by selling the data on the black market rather than using it to develop a vaccine for North Koreans. The “hermit kingdom” has not released da ....
Spread the love ASIA: China’s textile and clothing manufacturing suffered losses last year as US consumers and businesses moved away from Chinese labor. The apparel market in the US dropped -23% in 2020, marking a ten-year low. Asian competitors such as Bangladesh, India, Vietnam, and Cambodia saw a 42% rise in this sector last year as suppliers look to move beyond China. The US still has restrictions placed on cotton products produced in the Xinjiang Uygur region due to the clothing allegedly being made with forced labor, causing cotton-related imports to the US to drop by nearly -40%. A South Korean intelligence agency has reported that North Korean hackers have attempted to steal the formula for coronavirus vaccines. The hackers specifically targeted Pfizer, but some experts are stating the hackers were motivated by selling the data on the black market rather than using it to develop a vaccine for North Koreans. The “hermit kingdom” has not released data on it ....