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China to US: ‘Market has spoken’ after tariffs spur selloff

China to US: ‘Market has spoken’ after tariffs spur selloff
A man checks his phone next to an electronic board showing stocks on the Heng Seng Index in Hong Kong on Apr. 3, 2025. (AFP)
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Updated 05 April 2025

China to US: ‘Market has spoken’ after tariffs spur selloff

China to US: ‘Market has spoken’ after tariffs spur selloff
  • State-run Xinhua news agency also published the Chinese government’s stance, saying the US should “stop using tariffs as a weapon to suppress China’s economy and trade“
  • “The market has spoken,” Chinese foreign ministry spokesperson Guo Jiakun said

BEIJING: China said on Saturday “the market has spoken” in rejecting US President Donald Trump’s tariffs, and called on Washington for “equal-footed consultation” after global markets plunged in reaction to the trade levies that drew Chinese retaliation.
State-run Xinhua news agency also published the Chinese government’s stance, saying the US should “stop using tariffs as a weapon to suppress China’s economy and trade.”
Hong Kong Financial Secretary Paul Chan told public broadcaster RTHK, however, Hong Kong would not impose separate countermeasures, citing the need for the city to remain “free and open.”
“The market has spoken,” Chinese foreign ministry spokesperson Guo Jiakun said in a post on Facebook on Saturday. He also posted a picture capturing Friday’s falls on US markets.
Trump introduced additional 34 percent tariffs on Chinese goods as part of steep levies imposed on most US trade partners, bringing the total duties on China this year to 54 percent.
Trump also closed a trade loophole that had allowed low-value packages from China to enter the US duty-free.
This prompted retaliation from China on Friday, including extra levies of 34 percent on all US goods and export curbs on some rare earths, escalating the trade war between the world’s two largest economies.
Global stock markets plummeted following China’s retaliation and Trump’s comments on Friday that he would not change course, extending sharp losses that followed Trump’s initial tariff announcement earlier in the week and marking the biggest losses since the pandemic. For the week, the S&P 500 was down 9 percent.
“Now is the time for the US to stop doing the wrong things and resolve the differences with trading partners through equal-footed consultation,” Guo wrote in English on Facebook.
In a separate statement published by state-run Xinhua news agency, the Chinese government urged the US: “Stop using tariffs as a weapon to suppress China’s economy and trade, and stop undermining the legitimate development rights of the Chinese people.”
“China has taken and will continue to take resolute measures to safeguard its sovereignty, security and development interests,” said the government.
Washington “seriously undermines the rules-based multilateral trading system, and seriously undermines the stability of the global economic order,” it added.
Earlier on Saturday, several industry chambers of commerce ranging from those representing traders in metals and textiles to electronics, issued statements condemning the tariffs.
China’s chamber of commerce, representing traders in food products, called on “China’s food and agricultural products import and export industry to unite and strengthen cooperation to jointly explore domestic and foreign markets.”
Hong Kong’s Chan said it strongly opposes Trump’s actions and would continue to be “free and open.”
“Allowing a free flow of capital and acting as a free port are our advantages, and this will not change,” Chan told public broadcaster RTHK.
“The rules-based multilateral trading system is our core,” he said.


Dogs of war: China touts killer robot ‘wolves’

Updated 11 sec ago

Dogs of war: China touts killer robot ‘wolves’

Dogs of war: China touts killer robot ‘wolves’
BEIJING: China’s latest gun-toting quadruped military “wolf” robots are designed to stealthily approach enemies, fire precise shots on targets and work in rough terrain, state media said on Wednesday.
State broadcaster CCTV said the robots, an upgrade from earlier robotic dog iterations, can replace human soldiers in dangerous conditions to reduce combat casualties.
China has poured support into robotics, an area in which some experts say it might already have the upper hand over the United States.
Its military has been keen to showcase its defense innovation — including weapons incorporating advanced technology like robodogs — during drills with countries like Cambodia.
In a video posted by CCTV on Wednesday, the newest iteration of the robot “wolves” carries a rifle on its back, marching into a smoke-filled battlefield.
The agile machines climb up flights of stairs, carry heavy backpacks and launch attacks on dummies, clips showed.
While they look almost identical to the military’s robodogs, the “wolves” have improved “reconnaissance and strike capabilities,” CCTV said.
“They can navigate various terrains and carry out precision strikes from up to 100 meters (328 feet) away,” it added.
During war, the robots would be able to operate like a real wolf pack, dividing tasks and coordinating with each other, state media said.
At the front of the unit would be the “pack leader,” responsible for gathering target information and transmitting reconnaissance imagery, CCTV said.
Others would be in charge of shooting at enemies or carrying supplies and ammunition, it added.
These new robots could signal that the future battlefield will be more automated and deadly, said Chong Ja Ian, an associate professor at the National University of Singapore.
It is “in part to instill national pride domestically, but also to intimidate potential adversaries externally,” Chong said.

Italy ministers accused over release of Libyan official

Italy ministers accused over release of Libyan official
Updated 22 min 50 sec ago

Italy ministers accused over release of Libyan official

Italy ministers accused over release of Libyan official
  • Najim, head of Libya’s judicial police, was arrested in the northern Italian city of Turin on January 19 on an ICC warrant, only to be released by Rome’s Court of Appeal two days later and immediately flown to Tripoli on an Italian air force plane

ROME: Judges have requested permission from Italy’s parliament to bring proceedings against two government ministers over the release of a Libyan wanted by the International Criminal Court (ICC), reports said Wednesday.
Justice Minister Carlo Nordio is accused of failing to perform his official duties and also, alongside Interior Minister Matteo Piantedosi, of aiding and abetting Osama Almasri Najim’s return to Libya.
Najim, head of Libya’s judicial police, was arrested in the northern Italian city of Turin on January 19 on an ICC warrant, only to be released by Rome’s Court of Appeal two days later and immediately flown to Tripoli on an Italian air force plane.
He is accused of charges including murder, rape and torture relating to his management of Tripoli’s Mitiga detention center, and his release sparked a major political row in Italy.
Allegations that Meloni and her ministers acted improperly have been under consideration by a special court that deals with ministerial cases.
Meloni revealed on Monday she had been cleared of any wrongdoing.
But the court has now requested permission from parliament’s Chamber of Deputies to bring a case against her ministers — although this will almost certainly be denied, as Meloni’s coalition government has a majority.
According to Italian news agencies, Nordio is accused of failing to comply with ICC requests over the arrest of Najim, and effectively standing by when he could have intervened to keep the Libyan in prison.
Piantedosi and under-secretary Alfredo Mantovano, who is responsible for the intelligence service, are both also accused of aiding and abetting Najim’s release, and also of complicit embezzlement.
Piantedosi ordered the Libyan’s expulsion from Italy and Mantovano ordered the use of a state plane to send him home, despite, like Nordio, being fully aware of the requests for cooperation from the ICC, according to the court.
Meloni on Monday said the judges had cleared her, making what she called the “absurd” conclusion that she was not informed about the decisions on Najim.
She defended the government’s actions, saying they were entirely focused on “protecting the safety of Italians.”
Nordio has previously said the ICC warrant was badly drafted, while Piantedosi claimed that once Najim had been released from prison he was too dangerous to remain in Italy.
Piantedosi also denied allegations by some opposition politicians that the suspect was sent home to avoid jeopardizing relations with Libya.


Flash floods kill 6 in Myanmar-China border town

Flash floods kill 6 in Myanmar-China border town
Updated 06 August 2025

Flash floods kill 6 in Myanmar-China border town

Flash floods kill 6 in Myanmar-China border town
  • Monsoon floods in a rebel-held Myanmar town on the country’s mountainous border with China have killed six people, a spokesman for the armed group controlling the area said Wednesday

YANGON: Monsoon floods in a rebel-held Myanmar town on the country’s mountainous border with China have killed six people, a spokesman for the armed group controlling the area said Wednesday.
The northern town of Laiza bordering China’s Yunnan province has reported flash flooding since early Monday, when muddy waist-high waters began to stream through the streets.
Laiza is a stronghold of the Kachin Independence Army (KIA), which has for decades commanded control of its own ethnic enclave and emerged as one of the most powerful factions in Myanmar’s civil war.
“A lot of water flowed down the mountain to the river,” said KIA spokesman Naw Bu.
“The flow of water was too strong and destroyed areas surrounding the river,” he added. “Six people were killed in the flood and 100 houses were destroyed.”
Rescue operation had begun on Wednesday, he said, but were being hampered by road blockages.
“All of the roads have been damaged and the roads disappeared in some areas,” said one resident, who declined to be named for security reasons. “The water rose suddenly.”
More than 3.5 million people are currently displaced in Myanmar amid the civil war sparked by a 2021 coup, many sheltering in temporary camps, leaving them exposed to the elements.
The resident said flooding was “terrible” around local camps for the displaced where some shelters had been swept away and people had been wounded.
Myanmar is in the midst of its monsoon season when daily deluges are common.
But scientists say hazardous weather events are becoming more frequent and severe around the world as a result of human-driven climate change.


Italy to approve world’s largest suspension bridge

Italy to approve world’s largest suspension bridge
Updated 06 August 2025

Italy to approve world’s largest suspension bridge

Italy to approve world’s largest suspension bridge
  • Italy’s government is to give final approval Wednesday to a 13.5-billion-euro ($15.6-billion) project to build the world’s longest suspension bridge, connecting the island of Sicily to the mainland

ROME: Italy’s government is to give final approval Wednesday to a 13.5-billion-euro ($15.6-billion) project to build the world’s longest suspension bridge, connecting the island of Sicily to the mainland.
Deputy Prime Minister and Infrastructure Minister Matteo Salvini said a ministerial committee will back the state-funded bridge over the Strait of Messina, marking a “page in history” following decades of planning.
The bridge has been designed with two railway lines in the middle and three lanes of traffic on either side, with a suspended span of 3.3 kilometers (2.05 miles) — a world record — stretching between two 400-meter (1,300 feet) high towers.
Due for completion by 2032, the government says the bridge is at the cutting edge of engineering, able to withstand high winds and earthquakes in a region that lies across two tectonic plates.
Ministers hope it will bring economic growth and jobs to two impoverished Italian regions — Sicily and Calabria on the mainland — with Salvini promising the project will create tens of thousands of jobs.
Yet it has sparked local protests, over the environmental impact and the cost that critics say could be better spent elsewhere.
Some critics believe it will never materialize, pointing to a long history of public works announced, financed and never completed in Italy.
The bridge has had several false starts, with the first plans drawn up more than 50 years ago.
Eurolink, a consortium led by Italian group Webuild, won the tender in 2006 only to see it canceled after the eurozone debt crisis. The consortium remains the contractor on the revived project.
This time, Rome has an added incentive to press ahead — by classifying the cost of the bridge as defense spending.
Debt-laden Italy has agreed along with other NATO allies to massively increase its defense expenditure to five percent of GDP, at the demand of US President Donald Trump.
Of this, 1.5 percent can be spent on “defense-related” areas such as cybersecurity and infrastructure. Rome is hoping the Messina bridge will qualify, particularly as Sicily hosts a NATO base.


China tackles chikungunya virus outbreak with wide range of measures as thousands fall ill

China tackles chikungunya virus outbreak with wide range of measures as thousands fall ill
Updated 06 August 2025

China tackles chikungunya virus outbreak with wide range of measures as thousands fall ill

China tackles chikungunya virus outbreak with wide range of measures as thousands fall ill
  • More than 7,000 cases of the disease have been reported as of Wednesday, focused largely on the manufacturing hub of Foshan near Hong Kong
  • State television has shown workers spraying clouds of disinfectant around city stree

TAIPEI: An outbreak of the chikungunya virus in China has prompted authorities to take preventive measures from mosquito nets and clouds of disinfectant, threatening fines for people who fail to disperse standing water and even deploying drones to hunt down insect breeding grounds.
More than 7,000 cases of the disease have been reported as of Wednesday, focused largely on the manufacturing hub of Foshan near Hong Kong, which has reported only one case. Numbers of new cases appear to be dropping slowly, according to authorities.
Chikungunya is spread by mosquitoes and causes fever and joint pain, similar to dengue fever, with the young, older people and those with pre-existing medical conditions most at risk.
Chinese state television has shown workers spraying clouds of disinfectant around city streets, residential areas, construction sites and other areas where people may come into contact with virus-bearing mosquitos that are born in standing water.
Workers sprayed some places before entering office buildings, a throwback to China’s controversial hard-line tactics used to battle the COVID-19 virus.
People who do not empty bottles, flower pots or other outdoor receptacles can be subject to fines of up to 10,000 yuan ($1,400) and have their electricity cut off.
The US has issued a travel advisory telling citizens not to visit China’s Guangdong province, the location of Donguan and several other business hubs, along with countries such as Bolivia and island nations in the Indian Ocean. Brazil is among the othe rcountries hit hard by the virus.
Heavy rains and high temperatures have worsened the crisis in China, which is generally common in tropical areas but came on unusually strong this year.
China has become adept at coercive measures that many nations consider over-the-top since the deadly 2003 SARS outbreak. This time, patients are being forced to stay in hospital in Foshan for a minimum of one week and authorities briefly enforced a two-week home quarantine, which was dropped since the disease cannot be transmitted between people.
Reports also have emerged of attempts to stop the virus spread with fish that eat mosquito larvae and even larger mosquitos to eat the insects carrying the virus.
Meetings have been held and protocols adopted at the national level in a sign of China’s determination to eliminate the outbreak and avoid public and international criticism.