All posts tagged: exports

China’s car exports hit record high in April, as domestic sales fall

China’s car exports hit record high in April, as domestic sales fall

[ad_1] BEIJING: China’s car exports surged to a record high in April, data showed on Friday (May 10), as domestic sales slipped 5.8 per cent from a year earlier amid intensifying price competition and consumers’ caution about spending on big items during a shaky economic recovery. Car exports jumped 38 per cent year-on-year to 417,000 units in April, continuing strong momentum from the previous month which posted a 39 per cent growth in exports, the China Passenger Car Association (CPCA) said. An ongoing anti-subsidy investigation by the EU into Chinese automakers has disrupted and put pressure on vehicle exports to the bloc, but China has been actively exploring South America, Australia and ASEAN markets for exports, said Cui Dongshu, secretary general of the association. He said local automakers would have to make a choice between going overseas and losing out, as competition in the domestic market intensifies. Passenger vehicle sales in the world’s biggest auto market fell 5.8 per cent in April from a year earlier to 1.55 million units and slipped 9.6 per cent …

Commentary: A surprise South Korean boom is going unnoticed

Commentary: A surprise South Korean boom is going unnoticed

[ad_1] PROSPECTS OF A DOWNTURN HAVE DIMINISHED It didn’t look that way a year ago; economists confidently predicted multiple cuts beginning in late 2023. There was even a chance of recession. Prospects of such a downturn have greatly diminished. Inflation is proving a little stubborn and a rampaging greenback has weakened Korea’s currency, the won, to a degree that worries the central bank. This is an unfortunate byproduct of robust conditions in America and diminished hopes for early reductions from the Fed, a shift that has reverberated through global markets. “I wouldn’t call it starting from scratch,” Bank of Korea Governor Rhee Chang-yong told reporters recently. “But the situation has changed.” Nor is President Yoon Suk Yeol getting any kind of dividend from this economic buoyancy. His party received a drubbing in parliamentary elections last month when voters rebelled against Yoon’s hard-right policies. So great was the bloc’s defeat that political scientists declared his rule over with several years left in his term. Investor-friendly policies championed by Yoon, like deep cuts in capital-gains tax and …

Two emperors on the edge of two wars  – POLITICO

Two emperors on the edge of two wars  – POLITICO

[ad_1] Xi has repeatedly called Putin his best friend. He has also repeatedly refused to do anything to stop Russia’s full-scale invasion of Ukraine, and supplied dual-use military technologies, weapon-building components and satellite imagery, warns the U.S., to Russia.  In a recent interview with POLITICO, U.S. Ambassador to NATO Julianne Smith highlighted Beijing’s support for Moscow, saying that China could not proclaim to be neutral in the conflict any more. NATO Secretary General Jens Stoltenberg also described Chinese assistance as “[helping] Moscow to inflict more death and destruction on Ukraine.” Talking, not talking In Paris, Macron will provide Xi with his “analysis of developments in the conflict, and [will] convey Ukrainian positions,” the same Elysée official said. The French president “will also raise concerns about the activities of certain Chinese companies that could be directly involved in or contribute significantly to the Russian war effort.” There’s plenty of room for the two leaders to talk past each other.  “It’s going to be a mismatch of expectations,” said Abigaël Vasselier, head of foreign relations at MERICS, …

Why French music exports are still going strong

Why French music exports are still going strong

[ad_1] Rapper Ninho in concert at Les Vieilles Charrues festival, in Carhaix-Plouguer, France, in July 2022. FRED TANNEAU/AFP French music continues to sell well abroad. This is the main finding of the latest study by the National Center for Music (CNM) released on Monday, April 29. In 2023, the public institution recorded 424 export certifications – single or album produced in France – an increase of 30 % compared to 2022. Ninho (12 tracks), Aya Nakamura (nine tracks), PNL (nine tracks) and Indila (nine titles) are the artists with the most certified tracks. The United States, Germany, Belgium, the Netherlands and China are the countries where French productions are most successfully exported. The vitality of French music abroad can be explained first and foremost by the phenomenon of synchronization, which refers to the placement of a musical production within an audiovisual work. Thus, listeners to Charles Aznazour’s 1964 song “Hier encore” were buoyed by its appearance on the soundtrack of the Netflix series Lupin, starring Omar Sy. Puerto Rican rapper Bad Bunny, who sampled it …

ICJ refuses to order Germany to halt arms exports to Israel

ICJ refuses to order Germany to halt arms exports to Israel

[ad_1] Presiding judge Nawaf Salam (fourth from left) arrives to read a decision at the International Court of Justice in The Hague, Netherlands, Tuesday. Peter Dejong/AP hide caption toggle caption Peter Dejong/AP Presiding judge Nawaf Salam (fourth from left) arrives to read a decision at the International Court of Justice in The Hague, Netherlands, Tuesday. Peter Dejong/AP BERLIN — The International Court of Justice has refused to order Germany to stop sending weapons and aid to Israel, rejecting a request from Nicaragua. Nicaragua brought the case arguing that by providing arms and other support to Israel, Germany is failing to prevent possible genocide against Palestinians in Israel’s war with Hamas in the Gaza Strip. In a vote 15-1 Tuesday, the ICJ judges said in a preliminary ruling that, based on the legal arguments presented, the requirements were not met to issue such an order. The German Foreign Ministry reacted to the decision on social media saying, “Nobody is above the law. This guides our actions. We welcome today’s decision of the International Court of Justice.” …

Rethinking EU restrictive measures     – POLITICO

Rethinking EU restrictive measures     – POLITICO

[ad_1] Are there unintended consequences to European Union sanctions against Russia? While rocked initially by the restrictions, Russia’s economy has shown remarkable resilience. Europe, on the other hand, is facing a year of glacial growth. There are also growing concerns around the legitimacy of some of the embargoes being issued by Brussels, the adverse impact on European businesses and the wider humanitarian ramifications, both at general and individual levels. As the fighting enters a third year, it is clear that a rethink may be required. A strong, united stance from the European Union is necessary — but so too is a clear, consistent and compliance-friendly sanctions regime that looks to minimize collateral damage wherever possible. The diminishing impact of sanctions With Europe’s 13th package of economic measures being introduced, Russia remains the world’s most sanctioned country by a considerable margin. Almost 2,000 Russian individuals and organizations have been hit with restrictions, and bans have been placed on a wide range of import and export goods, from luxury watches to crude oil. Embargoes on the latter …

Russia has nothing to fear from EU in South Caucasus, Armenia insists – POLITICO

Russia has nothing to fear from EU in South Caucasus, Armenia insists – POLITICO

[ad_1] “That doesn’t exclude bilateral good relations with Russia, and that’s something we want to explain to our Russian colleagues,” he added. Earlier this month, at a meeting between Armenian Prime Minister Nikol Pashinyan, European Commission President Ursula von der Leyen and U.S. Secretary of State Antony Blinken, the EU unveiled a €270 million package designed to help bolster the economic independence and resilience of the former Soviet republic. Russia currently has an effective monopoly over Armenia’s energy networks, railways and imports of key goods like grain. While Russia has also maintained control over Armenia’s borders for the past three decades, relations have soured in recent years, with the Kremlin refusing to back the country in its long-running conflict with neighboring Azerbaijan. Moscow deployed more than a thousand peacekeepers to the breakaway region of Nagorno-Karabakh following a war in 2020, but its troops refused to intervene last September when Azerbaijani forces launched an offensive and sparked the mass exodus of its 100,000 Armenian residents. Days prior to the attack, Pashinyan told POLITICO that the country …

Russia sanctions-busting? Big questions remain over UK car exports | Business News

Russia sanctions-busting? Big questions remain over UK car exports | Business News

[ad_1] The extraordinary, unprecedented and largely unexplained flows of millions of pounds of British luxury cars into states neighbouring Russia continued in February, according to new official data. Some £26m worth of British cars were exported to Azerbaijan in February, according to data from HM Revenue & Customs. The numbers show that in the latest quarter this former Soviet state with developing economy status was the 17th biggest destination for UK cars, bigger than long-established export markets such as Ireland, Portugal and Qatar. Azerbaijan’s ascent has coincided almost to the month with the imposition of sanctions on the export of cars to Russia. British cars are banned from being sent into Russia, both as “dual use” goods, which could be repurposed as weapons, and, for any cars over the value of £42,000, under specific luxury goods restrictions. However, even as UK car exports to Russia plummeted to zero, they have risen sharply to states neighbouring Russia, including Kazakhstan, Kyrgyzstan, Georgia and, most notably of all, Azerbaijan. Follow Sky News on WhatsApp Keep up with all …

Strong intellectual property is critical to competitive edge – POLITICO

Strong intellectual property is critical to competitive edge – POLITICO

[ad_1] It is encouraging to see that the European Commission has charged former Italian Prime Minister Mario Draghi to prepare a report on Europe’s declining competitiveness, particularly in relation to the U.S. and China, and provide options on how to reverse the trend. As an industry, we echo the call by European heads of state for a new European Competitiveness Deal. As an industry, we echo the call by European heads of state for a new European Competitiveness Deal. Considering the sector contributes more to the positive EU trade balance than any other, a dedicated health and life sciences strategy should be an integral part of the EU’s industrial strategy. Such a move would send a hugely positive and much-needed signal to global investors that Europe wants to compete for research, development and manufacturing investment. It could turn around Europe’s fortunes that have seen not only a 25 percent drop in Europe’s global share of R&D investment in the past two decades, but also a steady decline in its clinical trial activity. China and the U.S. …

Georgia not ready for EU, says ruling party – POLITICO

Georgia not ready for EU, says ruling party – POLITICO

[ad_1] “If we are told that tomorrow we will become a member of the EU, then it will be possible to very easily cancel it, revise, transform or adopt a new one,” Garibashvili said. At the same time, he claimed that “there is no consensus a country can become a member of the EU today” because the bloc “is not ready for enlargement and it will take time and these next steps depend on many things.” The EU has told Georgia the proposals, which have brought thousands onto the streets in protest in recent weeks, are incompatible with European values and should be withdrawn, while Washington branded the “Kremlin-inspired” legislation as an attack on civil society. When the European Commission granted Georgia candidate status last year, it set out specific steps needed for the South Caucasus country to be admitted as a full member, including tackling political polarization and strengthening human rights protections. According to the bloc’s top diplomat, Josep Borrell, passing the foreign agent law, as well as the government’s new proposals cracking down …