EU considers reviewing dependence on Chinese chips
March 20, 2024
According to a recent Bloomberg report, the European Union is considering launching a formal review to assess the dependence of companies in the region on mature process chips imported from China. This action indicates that the EU may be following in the footsteps of the United States in examining the potential national security and global supply chain risks associated with reliance on China. According to a draft working statement seen by Bloomberg, the EU...
Shanghai's semiconductor equipment imports surge
March 20, 2024
Recent data released by Shanghai Customs shows a significant increase in Shanghais imports of semiconductor production equipment in the first two months of 2024. In particular, imports of machines and apparatus for the manufacture of semiconductor devices or integrated circuits have not only increased in quantity but also in value. According to statistics, from January to February 2024, Shanghai imported this...
China's steel export growth faces future fluctuations
March 20, 2024
According to Chinese customs statistics, Chinas steel exports achieved a substantial year-on-year increase in January and February 2024, demonstrating the competitiveness of Chinas steel industry in the global market. However, an analysis by the Lange Steel Research Center points out that although Chinas steel exports are currently growing, fluctuations in the short term are unavoidable due to changes in the international market environment. In the past two months...
Nissan, Honda to team up to counter rise of Chinese electric cars
March 19, 2024
In the face of increasing global competition in the field of electric vehicles (EV), Japans two major automobile manufacturers, Nissan and Honda, have begun to explore cooperation in the field of electric vehicles and vehicle software.According to the Japan Economic News, this partnership is intended to respond to the growing market offensive of Chinese electric vehicle companies, especially companies such as Biady in the global market.
India lowers import tariffs on electric vehicles to attract global car companies
March 19, 2024
In a major policy adjustment, the Indian government decided to cut import tariffs on multinational electric car companies as long as these companies pledged to build a local factory to produce electric vehicles in India. This strategy aims to attract global automakers such as Tesla and VinFast to turn India into a global manufacturing center for electric vehicles while promoting employment and reducing the country’s oil imports and...
South Korea's cross-border e-commerce imports from China surge 70%
18 March 2024
Data recently released by the Korea Customs Service shows that in 2023, the number of cross-border e-commerce goods imported by South Korea from China surged by 70.3% year-on-year, reaching 88.815 million pieces, a growth rate much higher than the overall import growth rate. This data emphasizes the increasing importance of the Chinese market in South Koreas cross-border e-commerce imports. Last year, the total volume of cross-border e-commerce goods imported by South Korea increased year-on-year...
Argentina fully liberalizes imports of necessities of life to cope with high inflation
18 March 2024
The Argentine government has announced a full opening of imports for household necessities such as food and medicine. This is a major decision aimed at addressing persistent domestic inflation and promoting more competitive market prices. This move is seen as the latest attempt by the Argentine government to control prices and increase the supply of goods. On March 12th local time, Argentine presidential spokesperson Adorni announced...
China cancels U.S. wheat orders on a large scale
March 15, 2024
China recently canceled a series of large-scale wheat orders from the United States, including a single order of 264,000 tons, with cumulative cancellations reaching the highest level since 1999. This series of cancellations has had a significant impact on US wheat exports, and US wheat exports for the 2023/24 fiscal year are expected to fall to their lowest level since 1971. This large-scale...
South Korea accelerates the diversification of its mineral supply chain to reduce its dependence on China
March 15, 2024
South Korea is accelerating the diversification of its critical mineral supply chain to reduce its dependence on China. This policy shift is primarily driven by the South Korean governments newly launched Strategy for Securing Critical Mineral Supply, which aims to reduce reliance on Chinese mineral resources. This move not only reflects South Koreas emphasis on supply chain security but also reflects the trend of global supply chain restructuring.
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