Global Pulse

标签： Asia

亚洲

  • What China’s latest economic plans say about its tech ambitions and rivalry with the US

    What China’s latest economic plans say about its tech ambitions and rivalry with the US

    BEIJING — China’s recently concluded National People’s Congress revealed a nuanced dual-track economic approach that balances immediate domestic concerns against ambitious long-term technological objectives, with significant implications for global markets.

    The government’s immediate priority for 2026 focuses squarely on stimulating domestic consumption to counter current economic sluggishness that has dampened both consumer and business confidence. This near-term strategy acknowledges the pressing need to address economic headwinds through internal market reinforcement.

    Concurrently, China’s five-year development blueprint emphasizes technological sovereignty as the cornerstone of its economic transformation. The comprehensive plan targets breakthroughs in artificial intelligence, quantum computing, biotechnology, new energy solutions, and next-generation 6G networks. This technological push aligns with President Xi Jinping’s vision of establishing China as a global power capable of competing with the United States across trade, technology, and geopolitical spheres.

    The strategic emphasis on technology has intensified amid ongoing trade tensions with the United States, particularly following restrictions on advanced semiconductor exports. In response, China has accelerated efforts to develop domestic capabilities in critical technologies, including commercial aviation (through its C919 passenger jet program), semiconductor manufacturing, and rare earth processing where it already maintains global dominance.

    Despite export growth providing economic stability, record trade surpluses approaching $1.2 trillion have raised international concerns about manufacturing job losses elsewhere. This external pressure has reinforced China’s determination to rebalance its economy toward domestic consumption while maintaining aggressive technological investment.

    Economic analysts note that while the announced 4.5-5% growth target for 2026 suggests potential economic cooling, substantial government subsidies will continue flowing to high-tech manufacturing sectors. However, this approach risks recreating the oversupply dynamics seen previously in solar and wind industries, potentially exacerbating global trade imbalances while further widening the gap between China’s manufacturing capacity and domestic demand.

  • US begins large military drill with South Korea while waging war in the Middle East

    US begins large military drill with South Korea while waging war in the Middle East

    SEOUL, South Korea — The United States and South Korea have commenced their extensive Freedom Shield military exercise, mobilizing approximately 18,000 South Korean troops alongside an undisclosed number of American forces. This annual command post exercise, running through March 19, represents a significant demonstration of allied military coordination despite escalating global tensions.

    The drills commence amid speculation regarding potential redeployment of U.S. military assets from the Korean Peninsula to support Middle Eastern operations. While neither U.S. Forces Korea nor South Korean officials would confirm reports regarding the movement of Patriot anti-missile systems and other equipment, both authorities maintained that any such movements would not compromise the allies’ combined defensive capabilities.

    North Korea has historically characterized these joint exercises as invasion rehearsals, frequently responding with military demonstrations and weapons tests. The timing is particularly sensitive following Pyongyang’s recent political conference, where leader Kim Jong Un reaffirmed his hard-line stance toward Seoul while suggesting potential openness to dialogue with Washington—provided the U.S. abandons its denuclearization prerequisites.

    The current drills occur against a backdrop of suspended diplomacy since the collapse of the 2019 Kim-Trump summit. Tensions have intensified as North Korea capitalizes on geopolitical distractions, including Russia’s invasion of Ukraine, to accelerate its nuclear weapons development and strengthen military ties with Moscow.

    Freedom Shield represents one of two major computer-simulated command exercises conducted annually, designed to evaluate joint operational capabilities against evolving security challenges. The accompanying Warrior Shield field training program will feature significantly reduced live exercises—22 compared to last year’s 51—potentially indicating a calibrated approach to avoid escalating tensions while maintaining readiness. This reduction has sparked speculation that allies may be creating diplomatic space for potential engagement with Pyongyang, particularly with the anticipated visit of former President Trump to China in coming months.

  • Japan’s Nikkei 225 share index falls more than 6% as oil soars over $100 a barrel

    Japan’s Nikkei 225 share index falls more than 6% as oil soars over $100 a barrel

    Asian financial markets experienced severe turbulence on Monday as Japan’s Nikkei 225 index plummeted over 6% in early trading, triggered by escalating oil prices exceeding $100 per barrel amid Middle East hostilities. The benchmark Nikkei dropped to 52,166.92 shortly after opening, while South Korea’s Kospi index witnessed a dramatic 6.3% decline. Australia and New Zealand markets similarly faced substantial losses, with both falling more than 3% in response to the energy crisis.

    The commodity markets registered unprecedented movements as Brent crude surged to $107.97 per barrel on the Chicago Mercantile Exchange—a striking 16.5% increase from Friday’s closing price of $92.69. This elevation represents the highest crude valuation in over three and a half years, primarily driven by supply chain disruptions affecting major oil-producing nations and export operations in the Persian Gulf region.

    These developments follow last week’s remarkable price surges, where U.S. crude escalated by 36% and Brent crude increased by 28%. The ongoing conflict, now entering its second week, has critically impacted regions vital to global oil and gas production and transportation.

    U.S. market indicators also pointed toward negative momentum, with S&P 500 and Dow Jones Industrial Average futures declining 1.9%. This downward trend continues from Friday’s performance, where the S&P 500 dropped 1.3% following disappointing employment data showing net job losses and oil prices breaching the $90 threshold.

    Financial analysts express concern that sustained oil prices above $100 could inflict significant damage on the global economy. The simultaneous occurrence of economic weakness and rising inflation presents a particularly challenging scenario for policymakers, as conventional tools struggle to address both issues effectively.

  • US, Israel bomb major Iran oil depots as US gasoline prices rise

    US, Israel bomb major Iran oil depots as US gasoline prices rise

    A joint US-Israeli military operation struck critical oil infrastructure in Tehran over the weekend, creating what witnesses described as apocalyptic scenes across Iran’s capital. The coordinated bombardment targeted multiple fuel storage depots in Tehran and Alborz provinces, triggering massive firestorms that sent toxic plumes of black smoke billowing into the night sky.

    Residents awoke Sunday to an altered cityscape shrouded in ominous gray clouds, with reports of toxic black rain containing oil particles falling across metropolitan areas. Iranian emergency services worked desperately to contain the infernos while health officials warned citizens to remain indoors due to dangerously compromised air quality.

    The Iranian Foreign Ministry characterized the assault as a deliberate escalation into “chemical warfare against Iranian citizens,” alleging the attacks released hazardous materials that would create long-term environmental and humanitarian consequences. Energy analysts immediately noted dramatic market repercussions, with crude futures experiencing their largest weekly gain since 1983—jumping 35% following the strikes.

    International observers expressed grave concerns about the strategic targeting of civilian energy infrastructure. Iranian political commentator Kev Joon noted the unprecedented nature of the destruction: “These aren’t military targets. They’re the infrastructure of everyday life. This isn’t a liberatory war. It’s an attempt to break the backs of Iranian people.”

    The economic implications extended beyond immediate oil price spikes. Qatar’s Energy Minister had previously warned The Financial Times that potential closure of the Strait of Hormuz could drive prices to $150 per barrel—a scenario that could “bring down the economies of the world.” Despite these concerns, US leadership indicated limited apprehension about rising fuel costs.

    Environmental organizations and human rights advocates condemned the attacks as potential war crimes, citing the deliberate targeting of essential civilian infrastructure and the resulting ecological disaster. The Iranian Red Crescent Society issued specific exposure guidelines, warning that the toxic rainfall could be “highly dangerous and acidic” for Tehran’s approximately 10 million residents.

  • Courts help boost high-level opening-up

    Courts help boost high-level opening-up

    Amidst global economic complexities and a significant surge in international litigation, China’s judicial system is positioning itself as a pivotal force in shaping the nation’s high-level opening-up strategy. Supreme People’s Court President Zhang Jun revealed that Chinese courts have demonstrated remarkable capacity in handling cross-border disputes, concluding 128,000 first-instance foreign-related civil and commercial cases during the 14th Five-Year Plan period (2021-2025)—representing a 65% increase from the previous five years.

    The judicial expansion reflects China’s deepening integration into global markets, with cases spanning more than 100 countries and regions. In 2025 alone, courts nationwide handled over 67,000 foreign-related commercial and maritime cases, marking a 44% year-on-year increase. This growth parallels global supply chain restructuring and the rise of digital trade, bringing complex disputes involving international goods contracts, service trade, cross-border payments, transportation, and insurance.

    China has established specialized institutions to address this growing demand, including the pioneering International Commercial Courts in Shenzhen and Xi’an (established 2018), which have resolved 37 cases involving parties from 21 jurisdictions. Additionally, international commercial tribunals across 18 cities—including Beijing, Shanghai, and Suzhou—concluded over 1,700 foreign-related commercial and arbitration review cases in 2025, representing a 24% annual increase.

    The system’s efficiency was demonstrated in a notable case where a foreign oil tanker dispute at Qingdao port was resolved within 24 hours through coordinated efforts between maritime courts using both online and offline mediation techniques.

    Significantly, China’s judicial influence is gaining international recognition. In a landmark 2022 incident involving a collision between Liberian and Panamanian vessels in the Strait of Malacca, parties proactively selected China’s Ningbo Maritime Court despite jurisdiction options across five nations. This voluntary selection by international entities, even those without substantial connections to China, signals growing confidence in China’s judicial system.

    Reciprocity breakthroughs have further enhanced China’s legal standing. In March 2022, the Shanghai Maritime Court recognized a UK court judgment based on reciprocal principles—despite the absence of a formal judicial assistance treaty—prompting British courts to subsequently recognize two Chinese judgments and breaking the ‘zero record’ of mutual recognition between the nations.

    From 2024-2025, Chinese courts received 1,620 applications for recognizing and enforcing foreign judgments, concluding 1,510 cases, demonstrating commitment to protecting rights of all parties through fair and inclusive judicial practices.

    President Zhang emphasized that ‘openness is a key feature of Chinese modernization, and the rule of law is the foundation for achieving high-level global engagement.’ Chinese courts have actively contributed to legislative developments including the Foreign Investment Law and Law on Foreign Relations, while also playing a crucial role in international rule-making, notably through China’s full participation in developing the UN Convention on Negotiable Cargo Documents—the first transportation sector treaty originating from Chinese judicial practice.

    As global uncertainties persist, China’s judiciary positions itself as both a ‘navigator’ for opening-up and an ‘anchor of stability’ for global trade, using legal certainty to address external volatilities while providing judicial solutions that support both China’s economic stability and global economic development.

  • ‘Big year’ for Sino-US ties noted

    ‘Big year’ for Sino-US ties noted

    Chinese Foreign Minister Wang Yi has characterized 2026 as a pivotal year for Sino-American relations during his annual press conference held alongside China’s National People’s Congress sessions. The senior diplomat revealed that bilateral high-level exchanges between the two powers are already scheduled, emphasizing the necessity for both nations to engage with “sincerity and good faith” to advance their complex relationship.

    Minister Wang stressed that while China maintains its consistent openness to cooperation, parallel commitment from the United States remains essential. “What the two sides need to do now is to create a suitable environment, manage the differences that do exist, and remove unnecessary disruptions,” he stated, outlining the practical steps required for relationship stabilization.

    The Foreign Minister highlighted the crucial role of presidential diplomacy, noting that the continued positive interactions between President Xi Jinping and U.S. leadership have provided “important strategic safeguards” that have steadied the relationship following previous fluctuations. Wang expressed optimism that mutual sincerity could expand cooperation areas while reducing problematic issues, potentially making 2026 “a landmark year of sound, steady and sustainable development of China-US relations.”

    Addressing broader global governance concepts, Minister Wang explicitly rejected the ‘G2′ framework that suggests Sino-American co-management of world affairs. “We should not forget there are more than 190 countries on our planet,” he remarked, advocating instead for a multipolar international system where “the future of humanity will be forged through the collective efforts of all nations.”

    Wang cautioned against historical patterns of great-power rivalry and bloc confrontation, asserting that China “will never take the beaten path of seeking hegemony as its strength grows.” He called for major nations to demonstrate greater generosity and responsibility in observing international rules and upholding legal frameworks.

    Academic experts provided additional context to these diplomatic statements. Chen Bo of the China Institute of International Studies interpreted Wang’s comments as demonstrating “Beijing’s proactive gesture in advancing ties with major countries.” Professor Jia Qingguo of Peking University emphasized the need for enhanced communication mechanisms to manage differences before escalation occurs.

    Looking forward, Minister Wang previewed an active year for Chinese diplomacy, with President Xi scheduled to host numerous foreign leaders and undertake significant international visits. Major diplomatic events including the APEC Economic Leaders’ Meeting and the second China-Arab States Summit will further China’s foreign policy objectives of building “a community with a shared future for humanity.”

  • UAE officials deny Israeli reports of strike inside Iran

    UAE officials deny Israeli reports of strike inside Iran

    The United Arab Emirates has issued a formal denial of reports circulating in Israeli media that alleged Emirati involvement in an airstrike targeting an Iranian water desalination facility. The Emirati foreign ministry released an official statement clarifying its defensive posture while explicitly rejecting any participation in the alleged attack on Qeshm Island in the Strait of Hormuz.

    The diplomatic rebuttal emerged following multiple Israeli media publications, citing anonymous sources, that pointed to UAE responsibility for the incident. Iranian Foreign Minister Abbas Araghchi had previously attributed the bombing to the United States, though both American and Israeli authorities have denied conducting the strike.

    Dr. Ali Rashid Al Nuaimi, chairman of the UAE’s Defense Affairs, Interior and Foreign Affairs Committee, characterized the reports as ‘fake news’ via social media platform X, asserting that the UAE would openly claim responsibility for any actions it undertakes. The escalating situation has revealed apparent tensions in Israeli-Emirati communications, with a senior UAE official expressing confusion over ‘Israeli conduct’ and the nature of briefings emerging from Israeli sources.

    The incident occurs against a backdrop of increasing regional instability, with Iran conducting near-daily strikes against what it identifies as US bases and assets throughout the Gulf. Gulf states have uniformly condemned these violations of their sovereignty while reserving the right to respond appropriately.

    This episode has raised significant concerns about the vulnerability of critical water infrastructure throughout the region. The Gulf nations rely heavily on desalination technology, with approximately 400 facilities providing the majority of drinking water—90% in UAE and Kuwait, 86% in Oman, and 70% in Saudi Arabia. The reported attack on Iranian water infrastructure coincided with Israeli airstrikes on fuel storage facilities in Tehran, further heightening anxieties about the targeting of essential civilian infrastructure amid escalating conflict.

  • Ma Huijuan: Where waters of Yellow River cannot reach, care of Party Central Committee always can

    Ma Huijuan: Where waters of Yellow River cannot reach, care of Party Central Committee always can

    Hongsipu district in China’s Ningxia Hui Autonomous Region presents a remarkable story of geographical and human transformation. Situated 70 kilometers from the Yellow River with a significant elevation difference of 304 meters, this area historically existed beyond the reach of the river’s life-giving waters. Yet through determined governmental intervention, what was once barren land has been converted into productive farmland and residential communities.

    The transformation was made possible by an ambitious irrigation project that pumps water from the Yellow River to these elevated mountainous areas. This engineering achievement has enabled the successful relocation of residents from the impoverished Xihaigu region, designated by UNESCO as one of the least habitable places on Earth due to its harsh environmental conditions.

    Among those who have witnessed this dramatic change is Ma Huijuan, whose personal journey mirrors the region’s development. Forced to abandon her education at age 16 due to family poverty, Ma initially worked the land like generations before her. Following relocation, she pursued self-education during intervals between farm labor, eventually evolving into an accomplished writer who documents rural life—all while maintaining her agricultural work.

    Now serving as a grassroots deputy to the National People’s Congress, Ma represents the vital connection between policy implementation and community experience. Her narrative captures how national infrastructure projects intersect with individual lives, creating opportunities where none previously existed. Through both her political role and literary work, she chronicles the subtle yet significant improvements in daily living standards that collectively contribute to broader national progress.

    The Hongsipu project exemplifies how targeted governmental initiatives can alter demographic and agricultural patterns, turning previously uninhabitable zones into viable communities. Ma’s story particularly highlights the educational and cultural dimensions of this development, demonstrating how economic improvements can foster intellectual and artistic growth within traditionally marginalized populations.

  • ‘Ganwei’ brand drives agricultural modernization and rural vitality in Gansu

    ‘Ganwei’ brand drives agricultural modernization and rural vitality in Gansu

    In a remarkable demonstration of digital commerce’s power, a single livestream conducted beneath a walnut tree in rural Longnan resulted in the sale of 1,500 kilograms of walnuts within just two hours. This extraordinary event exemplifies the transformative impact of Gansu province’s agricultural brand initiative ‘Ganwei’ (meaning ‘flavor of Gansu’), which is driving unprecedented economic vitality across the region’s countryside.

    Liang Qianjuan, a National People’s Congress deputy and rural e-commerce entrepreneur from Huixian county, highlighted how digital platforms have eliminated traditional transportation barriers that once hampered sales of local specialties. ‘E-commerce has given them wings,’ she stated during the Gansu delegation’s open day at the two sessions in Beijing. Over the past decade, Liang has expanded her enterprise from a solitary online store to a multi-platform operation spanning major e-commerce and livestreaming platforms, now marketing over 50 distinct products including edible fungi, wild honey, and artisanal bean products sourced directly from local farmers and cooperatives.

    The digital transformation has generated substantial economic ripple effects throughout rural communities. Liang’s business currently collaborates with hundreds of households, while inspiring numerous farmers to launch their own online ventures specializing in regional products like walnuts and honey. Her company’s annual sales have surged from approximately 2 million yuan ($290,000) to over 6 million yuan, reflecting the broader expansion of Longnan’s e-commerce ecosystem which now encompasses more than 16,000 online stores with total sales reaching 8.8 billion yuan in 2025.

    Beyond commerce, the initiative has created significant employment opportunities, particularly for rural women who previously remained at home. Many now work in packaging and logistics roles, earning monthly incomes between 3,000-4,000 yuan.

    Concurrently, NPC deputy Yin Jianmin has pioneered comprehensive industrial chain development through the ‘one county, one product’ model. Drawing upon the Dongxiang ethnic group’s longstanding sheep-raising traditions in Linxia, Yin has established a fully integrated operation covering breeding, technical training, processing, and marketing of Dongxiang lamb. This initiative has enhanced lambing rates, expanded market access, and generated stable incomes for local farmers, benefiting over 10,000 people throughout the past decade while creating employment opportunities for ethnic minority women within their communities.

    These grassroots efforts collectively advance the ‘Ganwei’ brand while transforming traditional agriculture into higher-value industries. According to Gansu Governor Ren Zhenhe, the province’s primary industry value-added growth has ranked among China’s top five for 19 consecutive quarters. The comprehensive agricultural industrial chain—encompassing livestock, vegetables, fruits, potatoes, Chinese medicinal herbs, grains, and seeds—has achieved an output value of 620 billion yuan. The ‘Ganwei’ brand has consistently ranked among China’s top regional agricultural brands for five consecutive years, with products distributed nationwide and exported to over 90 countries and regions.

    As branding strategies, digital commerce, and agricultural modernization continue converging, the fundamental objective remains ensuring that high-quality agricultural products from farmers’ lands reach stable and profitable markets, thereby sustaining rural revitalization across Gansu province.

  • NPC deputy sees Xinjiang become more open and confident

    NPC deputy sees Xinjiang become more open and confident

    Zoya Bahit, an archaeologist and National People’s Congress deputy from Xinjiang Uygur Autonomous Region, embodies the cultural transformation sweeping through China’s western frontier. In a recent interview, Bahit described her unique position as both guardian of the past and bridge to the present, offering rare insights into Xinjiang’s evolving social landscape.

    Growing up in Altay, a region known for its rich historical tapestry, Bahit developed an early fascination with cultural preservation. Her archaeological work has positioned her at the intersection of Xinjiang’s ancient heritage and its contemporary development. As an NPC deputy, she now channels this dual perspective into her political responsibilities, advocating for cultural conservation while participating in regional governance.

    Bahit’s observations reveal significant sociological shifts: ‘I’ve witnessed my hometown transforming into something more open, more inclusive, and fundamentally more confident,’ she noted. This transformation reflects broader regional developments that have seen Xinjiang increasingly integrated into China’s cultural and economic mainstream while maintaining its distinctive ethnic characteristics.

    Her role exemplifies how cultural professionals are contributing to policy-making processes, bringing specialized knowledge from the field to the national legislative arena. The archaeologist’s journey from excavation sites to the halls of power in Beijing symbolizes Xinjiang’s evolving place within China’s multicultural framework, demonstrating how regional representatives are shaping national conversations about heritage and development.