分类： business

Global financial markets experienced significant turbulence on Wednesday, triggered by a sharp decline in Big Tech shares on Wall Street. The ripple effects were felt across Europe and Asia, with major indices initially plunging before partially recovering. Tokyo’s Nikkei 225 index, which had plummeted nearly 5% during the day, managed to pare losses to close 2.5% lower at 50,212.27. Similarly, European markets saw declines, with Germany’s DAX dropping 0.7% and France’s CAC 40 shedding 0.4%. The UK’s FTSE 100 edged 0.1% lower. In the U.S., futures for the S&P 500 slipped 0.1%, while the Dow Jones Industrial Average futures inched 0.1% higher. The tech-driven sell-off was particularly pronounced in Asia, where SoftBank Group’s shares tumbled 10% amid concerns over its artificial intelligence investments. Other tech giants, including Tokyo Electron and Advantest Corp., also saw significant declines. Toyota Motor Corp. reported a 7% drop in profits for the April-September period but raised its annual earnings forecast despite U.S. tariff pressures. South Korea’s Kospi fell 2.9%, driven by losses in Samsung Electronics and SK Hynix. Chinese markets showed mixed performance, with the Shanghai Composite edging 0.2% higher while Hong Kong’s Hang Seng dipped 0.1%. The tech sector’s volatility has been a key driver of market movements this year, with companies like Nvidia and Microsoft exerting outsized influence. Gold prices, often seen as a safe haven, rose 0.8% to $3,990.90 per ounce amid the uncertainty. Analysts described the sell-off as a ‘reality check’ for markets that had been riding a prolonged rally. Wall Street remains focused on corporate earnings, with most S&P 500 companies surpassing expectations. However, the U.S. government shutdown has added to the uncertainty, leaving investors without crucial economic data. Tesla shares fell 5.1% after Norway’s sovereign wealth fund opposed a controversial compensation package for CEO Elon Musk. In commodities, U.S. benchmark crude oil and Brent crude both declined by 14 cents per barrel.

Online retail giants Shein, Temu, AliExpress, and Wish are under investigation in France for allegedly enabling minors to access pornographic content on their platforms, the Paris prosecutor announced on Tuesday. The probe follows a report by the country’s consumer watchdog, which raised concerns over the sale of childlike sex dolls on Shein’s platform. The watchdog referred the matter to the prosecution service on Sunday. The Paris prosecutor’s office confirmed that the platforms are being scrutinized for hosting violent, pornographic, or ‘undignified messages’ accessible to minors. AliExpress responded by stating it takes the issue seriously and has removed the offending listings, while Shein announced a global ban on the sale of all sex dolls and stricter platform controls. The French consumer watchdog highlighted that the descriptions and categorizations of the sex dolls left ‘little doubt as to the child pornography nature’ of the products. The investigation coincides with Shein’s launch of its first permanent physical outlet in Paris on Wednesday, amidst protests. The company, founded in China, also plans to expand its presence in other French cities, including Dijon, Reims, and Angers.

In a significant development for American soybean farmers, China has agreed to purchase 918 million bushels of soybeans annually over the next three years. This decision, announced by Treasury Secretary Scott Bessent, has brought much-needed relief to the agricultural sector. President Donald Trump hailed the agreement, stating, “Our farmers will be very happy!” The deal is part of broader trade concessions from China, including commitments on rare earths and fentanyl, which Trump has framed as a victory in the ongoing US-China trade war. He described his recent meeting with Chinese President Xi Jinping as “a 12 on a scale of one to 10.”

However, some analysts argue that China may have emerged as the real winner. They point to China’s retaliatory measures on soybeans and rare earths, which forced the US to back down on 100% tariffs, port fees, and stricter AI-chip export controls. Critics, including editorial writers from the Wall Street Journal, contend that the agreement largely restores the status quo that existed in May. A New York Times headline even suggested that Xi had outmaneuvered Trump, allowing him to claim a win while strengthening China’s position.

The reality, however, is more nuanced. The trade war remains unresolved, with neither side achieving its primary objectives. While the US has secured temporary concessions, China continues to face high tariffs on its exports. Similarly, China has only suspended its strict export restrictions on rare earths for a year. Both nations have demonstrated their capacity to inflict economic pain on each other, but progress toward a lasting resolution remains elusive.

For American soybean farmers, the agreement offers short-term relief but underscores their overreliance on the Chinese market. The president of the American Soybean Association noted that while the purchases are welcome, they are insufficient to restore profitability. Farmers are now seeking diversification, with potential agreements with Malaysia, Cambodia, Thailand, and Vietnam offering hope for long-term stability. These deals, if finalized, could significantly reduce the US agricultural sector’s dependence on China.

As the truce between the US and China continues, the situation remains volatile. Both nations are actively working to reduce their economic interdependence, and hostilities could resume at any moment. For now, the agreement provides a temporary reprieve, but the underlying tensions of the trade war persist.

In an exclusive interview with China Daily, Michael Gelchie, CEO of Louis Dreyfus Company (LDC), expressed his optimism about China’s economic prospects despite ongoing global discussions on ‘decoupling’ and ‘fragmentation.’ Gelchie emphasized that LDC employs a scientific approach to capital allocation when evaluating global investments, with a particular focus on China. He highlighted the country’s immense potential, driven by the rapid expansion of its middle class, and reaffirmed the company’s commitment to investing in the Chinese market. Gelchie’s remarks came ahead of the 8th China International Import Expo (CIIE), where LDC plans to showcase its latest innovations and strengthen its presence in the region. His comments underscore the growing confidence among global business leaders in China’s ability to sustain robust economic growth and create opportunities for international enterprises.

The 138th China Import and Export Fair, widely recognized as the Canton Fair, wrapped up on November 4, 2025, underscoring China’s robust foreign trade capabilities amidst global economic uncertainties. This year’s event attracted an unprecedented 310,000 international buyers from 223 countries and regions, reflecting a 7.5% surge compared to the previous session. Notably, 69% of attendees hailed from nations engaged in the Belt and Road Initiative, with significant representation from the European Union, the Middle East, the United States, and Brazil. On-site export transactions reached $25.65 billion, showcasing steady growth in traditional markets. Exhibitors displayed 4.6 million products, with over 23% featuring innovative, eco-friendly designs or independent intellectual property rights. Highlights included AI-driven devices, zero-plastic home goods, and bio-based materials. The fair also introduced 632 new products, reinforcing its reputation as a global innovation hub. Digital advancements streamlined the experience, with QR code credentials cutting registration time to 30 seconds and AI-assisted image review achieving over 80% accuracy. Indoor navigation services were utilized 477,000 times. Supportive policies, such as a 50% fee reduction for exhibitors and full waivers for rural revitalization zones, were maintained. The next Canton Fair is set to take place from April 15 to May 5, 2026, in Guangzhou, Guangdong Province.