ReportWire

Tag: Emerging Market Countries

  • A Mayor’s Assassination Reignites Mexico’s Debate Over Confronting Cartels

    MEXICO CITY—Since taking office last year as mayor of Uruapan, Carlos Manzo often led police raids wearing his bulletproof vest and cowboy hat to fulfill his mandate to end endemic extortion in the avocado capital of the world.

    The 40-year-old Manzo knew that the criminal gangs he confronted had more resources and superior weaponry. He was gunned down on Saturday as he officiated a candle-lighting ceremony for Day of the Dead, one of the main religious festivities in Mexico’s western Michoacán state.

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    José de Córdoba

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  • Exclusive | Trump Officials Torpedoed Nvidia’s Push to Export AI Chips to China

    Shortly before President Trump met Chinese leader Xi Jinping in South Korea, an urgent issue emerged. Trump wanted to discuss a request by Nvidia Chief Executive Jensen Huang to allow sales of a new generation of artificial-intelligence chips to China, current and former administration officials said.

    Greenlighting the export of Nvidia’s Blackwell chips would be a seismic policy shift potentially giving China, the U.S.’s biggest geopolitical competitor, a technological accelerant. Huang—who speaks to Trump often—has lobbied relentlessly to maintain access to the Chinese market.

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    Lingling Wei

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  • Trump Says Xi Will Help Fight Fentanyl. Will China Follow Through?

    For years, the U.S. and China have been locked in a pattern on the deadly issue of fentanyl. The White House pressures Beijing to stop Chinese companies from exporting chemicals used to make the drug to Mexico. Beijing takes incremental steps in exchange for Washington dialing down economic pressure—only for China to drag its feet when relations deteriorate.

    President Trump, after a summit on Thursday with Chinese leader Xi Jinping, said tariffs he had imposed on China over its role in the fentanyl trade would be lowered to 10% from 20% because of Beijing’s “very strong action” in cracking down and Xi’s commitment to do more.

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    Brian Spegele

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  • Tariff-Driven Shifts Continue to Shape Asia’s Manufacturing Activity

    Factory activity gauges in Asia reflected a divergence across major exporting economies, as worries over U.S. tariffs continued to cause shifts in supply chains.

    The latest set of S&P Global purchasing managers indexes showed that goods producers in export powerhouses South Korea and Taiwan flagged deteriorating demand last month, but Southeast Asian countries like Vietnam and Thailand recorded a pickup in new orders.

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    Kimberley Kao

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  • Vietnam Is Building Islands to Challenge China’s Hold on a Vital Waterway

    In the turquoise waters of the South China Sea, one country is challenging Beijing’s grip on one of the world’s most important maritime thoroughfares.

    Over four years, Vietnam has built out a series of remote rocks, reefs and atolls to create heavily fortified artificial islands that expand its military footprint in the Spratly Islands, an archipelago where Hanoi’s claims clash not only with China’s but also with those of Taiwan, the Philippines, Malaysia and Brunei.

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    Gabriele Steinhauser

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  • China Manufacturing Gauge Signals Weaker Growth Momentum

    A private gauge of China’s manufacturing activity showed Chinese factories continued to expand production in October, albeit at a slower pace, signaling weaker growth momentum heading into the fourth quarter of the year.

    The RatingDog China General Manufacturing Purchasing Managers’ Index, compiled by S&P Global, declined to 50.6 last month from 51.2 in September, according to a statement released Monday.

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  • Europe’s Role Reversal: The Problem Economies Are Now Further North

    The European debt crisis of the early 2010s created an image of a continent cleaved in two: The fiscally responsible core countries led by Germany versus the spendthrift southern periphery of Portugal, Italy, Greece and Spain—disdainfully dubbed PIGS.

    Nowadays, there has been a role reversal. Europe’s three biggest economies are stuck in a cycle of weak growth, leading to widening budget deficits. France is the epicenter of this shift and remains mired in a budget and political crisis, while the U.K. is eyeing tax hikes to try to narrow the gap and avoid spooking markets. Famously frugal Germany and the Netherlands are taking on debt, albeit from lower levels.

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    Chelsey Dulaney

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  • China Is Filling Up Its Oil Reserves Fast

    China has spent months building up its oil reserves. That might come in handy in the wake of the new sanctions the U.S. recently imposed on Russian crude.

    During the first nine months of the year, the world’s second-largest economy imported on average more than 11 million barrels of oil a day, an amount above the daily production of Saudi Arabia, according to official customs data. Analysts estimate 1 million to 1.2 million of those barrels were stashed in reserves each day.

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    Rebecca Feng

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  • Essay | The Trade War Couldn’t Change China’s Economy

    President Trump and Chinese leader Xi Jinping have walked back from the ledge—again. But even as the world’s two superpowers deescalate a trade fight that had threatened to destabilize the global economy, a new reality is setting in—that Washington may finally have to give up on its long-standing aim of pushing Beijing to restructure its economy.

    For years and through successive U.S. administrations, senior officials in Washington had hoped that bringing China into the global trading system would open up the country’s political system. In the decades since China’s accession to the World Trade Organization in 2001, those hopes of political liberalization have largely been dashed. The sense of disappointment has only grown as Chinese leader Xi Jinping, who took power in late 2012, has tightened his control over the domestic political system and civil society more broadly.

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    Jonathan Cheng

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  • Exclusive | White House to Announce Resumption of Auto Chip Shipments From China

    The White House is set to announce that the Dutch semiconductor company that paused shipments weeks ago and risked upending global car production will resume sending chips under a framework agreement reached during talks between President Trump and Chinese leader Xi Jinping, people familiar with the plans said. 

    The new policy on the Dutch chips is part of a forthcoming document from the White House laying out the details of the U.S.-China trade deal signed this week, according to the people.

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    Ryan Felton

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  • China Factory Activity Gauge Signals Deepening Manufacturing Gloom

    Economic momentum continued to weaken for the world’s second-largest economy, with a manufacturing gauge signaling mounting headwinds.

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  • The Long Road to a U.S.-China Trade Pact

    In March, Sen. Steve Daines traveled to Beijing with a group of American chief executives in hopes of calming a tense trade relationship between the world’s two largest economies.

    Weeks earlier, President Trump had added an additional 20% in tariffs on China over what he said was its role in the fentanyl trade. The Montana senator and close Trump ally, who lived in China and Hong Kong for six years in the 1990s as an executive for Procter & Gamble, saw an opening to smooth things over.

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    Gavin Bade

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  • What to Know About Trump’s Trade Deal With China’s Xi

    Tariffs, soybean purchases and a crackdown on fentanyl were among the issues discussed by the two leaders.

    Joshua Jamerson

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  • What to Know About Trump’s Latest Tariffs

    President Trump’s tariff policies have taken numerous twists and turns this year.

    He and President Xi Jinping reached a trade agreement that will see the U.S. lowering tariffs on Chinese imports imposed this year to 20%. When added to tariffs imposed on Chinese imports during Trump’s first term, overall U.S. duties on Chinese imports will total around 47%.

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    Chao Deng

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  • See the Secret Networks Smuggling Drugs to the U.S. From Latin America

    Demand in America for illegal drugs such as fentanyl and cocaine fuels sophisticated systems for smuggling them in. Traffickers deploy everything from fast-moving fiberglass boats to stealthy “narco-subs” to cargo ships to get their products to users without losing shipments to seizures or couriers to arrest. With decades of experience, according to U.S. counternarcotics officials, the traffickers are usually a step ahead of America and its allies in Latin American and Caribbean waters.

    The flow of fentanyl

    Arguably the most dangerous illegal drug consumed by Americans, fentanyl is usually smuggled through ports of entry by U.S. citizens hired as “mules,” moving small amounts of the synthetic opioid for criminal groups such as the Sinaloa cartel, according to U.S. and Mexican officials. Nogales, Ariz., is one of the busiest fentanyl corridors in the U.S., with the drug transported in passenger cars, trucks and other methods.

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    Daniel Kiss

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  • Trump Says U.S. Will Begin Testing Nuclear Weapons

    The president said he has instructed the Pentagon to test “on an equal basis” with Russia and China.

    Michael R. Gordon

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  • Trump Meets Xi for High-Stakes U.S.-China Summit

    BUSAN, South Korea—President Trump and Chinese leader Xi Jinping met face-to-face for the first time in six years in an attempt to find a truce in a bruising fight between the two superpowers over trade and technology.

    The two leaders convened at the airport in this South Korean port city late Thursday morning local time. As they shook hands, Trump said it’s “good to see you again,” and added, “We’re going to have a very successful meeting, I have no doubt. But he’s a very tough negotiator, that’s not good.”

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    [ad_2] Josh Chin
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  • Trump Tells Asia Allies: It’s Your Turn to Boost Military Spending

    GYEONGJU, South Korea—Amid the pageantry and backslapping, President Trump’s weeklong Asian swing drew attention to a sour point for allies: The U.S. demand that they spend more to respond to a rising threat of Chinese aggression.

    Washington first pressured Europeans to boost their military budgets shortly after Trump took office in January. That push ultimately proved successful, with many allies pledging to increase spending.

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    [ad_2] Alexander Ward
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  • After Demolishing the U.S.-China Relationship, Trump Is Rebuilding It His Way

    President Trump blew up America’s decadeslong engagement with China during his first term. Now, he is poised to relaunch the kind of engagement with Beijing embraced by predecessors from Bill Clinton to Barack Obama—but on Trump’s terms.

    Top trade negotiators for the U.S. and China, wrapping up two days of tense talks in Kuala Lumpur on Sunday, said they arrived at a framework agreement that sets the table for Trump and Chinese leader Xi Jinping to agree on a major deal when they meet Thursday in South Korea.

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    [ad_2] Lingling Wei
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  • 14 Killed in U.S. Strikes on Four Alleged Drug Boats in Eastern Pacific

    The U.S. carried out three new lethal strikes on four vessels allegedly operated by drug smugglers in the Eastern Pacific on Monday, Defense Secretary Pete Hegseth said.

    In total, 14 alleged “narco-terrorists” were killed in the three strikes, which left one survivor, Hegseth wrote in a social-media post. U.S. Southern Command notified the Coast Guard to initiate search and rescue operations for the survivor, before relaying the information to a Mexican military aircraft operating in the area, according to a Pentagon official. Mexican authorities picked up the survivor, the official said.

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    Lara Seligman

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