Saturday, October 24, 2020

China Desperate to Stop South Korean and Japanese Firms from Leaving Market: Leaked Documents

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Amid a crippling trade war with the United States, declining demand, and supply chain disruptions due to the COVID-19 pandemic, foreign companies are leaving China in droves. South Korean companies, Japanese companies, Taiwanese companies, and American companies such as Microsoft, Google, and Apple are all moving their production out of China. The Epoch Times received a set of internal documents from the Huizhou city government in Guangdong Province, showing that amid the exodus of foreign companies, the Chinese Communist Party (CCP) issued an urgent order to “keep Japanese and South Korean companies [from leaving,]” for both economic reasons and the Party’s political agenda. In October 2019, South Korean tech giant Samsung closed its Huizhou factory and stopped manufacturing mobile phones in China. In June 2020, Samsung announced that its display screen production would be relocated from China to Vietnam. Samsung’s withdrawal from China hits Huizhou’s economy hard. According to an …

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China Is Facing Likely Corn Shortage After Summer of Natural Disasters

Corn, one of the main grains in mainland China, is currently entering the harvest season. But due to...

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