CGTN: Xizang's development is a story of transformation and renewal
Once, at a two-day high-level meeting, Chinese President Xi Jinping called for further efforts to ensure national security and enduring peace and stability, steadily improve people's lives, maintain a good environment, solidify border defense and ensure frontier security in Xizang. As an inseparable part of China, Xizang has always been a priority for the Central Government.
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Winnipeg Free Press
41 minutes ago
- Winnipeg Free Press
Trump thinks owning a piece of Intel would be a good deal for the US. Here's what to know
SAN FRANCISCO (AP) — President Donald Trump wants the U.S. government to own a piece of Intel, less than two weeks after demanding the Silicon Valley pioneer dump the CEO that was hired to turn around the slumping chipmaker. If the goal is realized, the investment would deepen the Trump administration's involvement in the computer industry as the president ramps up the pressure for more U.S. companies to manufacture products domestically instead of relying on overseas suppliers. What's happening? The Trump administration is in talks to secure a 10% stake in Intel in exchange for converting government grants that were pledged to Intel under President Joe Biden. If the deal is completed, the U.S. government would become one of Intel's largest shareholders and blur the traditional lines separating the public sector and private sector in a country that remains the world's largest economy. Why would Trump do this? In his second term, Trump has been leveraging his power to reprogram the operations of major computer chip companies. The administration is requiring Nvidia and Advanced Micro Devices, two companies whose chips are helping to power the craze around artificial intelligence, to pay a 15% commission on their sales of chips in China in exchange for export licenses. Trump's interest in Intel is also being driven by his desire to boost chip production in the U.S., which has been a focal point of the trade war that he has been waging throughout the world. By lessening the country's dependence on chips manufactured overseas, the president believes the U.S. will be better positioned to maintain its technological lead on China in the race to create artificial intelligence. Didn't Trump want Intel's CEO to quit? That's what the president said August 7 in an unequivocal post calling for Intel CEO Lip-Bu Tan to resign less than five months after the Santa Clara, California, company hired him. The demand was triggered by reports raising national security concerns about Tan's past investments in Chinese tech companies while he was a venture capitalist. But Trump backed off after Tan professed his allegiance to the U.S. in a public letter to Intel employees and went to the White House to meet with the president, who applauded the Intel CEO for having an 'amazing story.' Why would Intel do a deal? The company isn't commenting about the possibility of the U.S. government becoming a major shareholder, but Intel may have little choice because it is currently dealing from a position of weakness. After enjoying decades of growth while its processors powered the personal computer boom, the company fell into a slump after missing the shift to the mobile computing era unleashed by the iPhone's 2007 debut. Intel has fallen even farther behind in recent years during an artificial intelligence craze that has been a boon for Nvidia and AMD. The company lost nearly $19 billion last year and another $3.7 billion in the first six months of this year, prompting Tan to undertake a cost-cutting spree. By the end of this year, Tan expects Intel to have about 75,000 workers, a 25% reduction from the end of last year. Would this deal be unusual? Although rare, it's not unprecedented for the U.S. government to become a significant shareholder in a prominent company. One of the most notable instances occurred during the Great Recession in 2008 when the government injected nearly $50 billion into General Motors in return for a roughly 60% stake in the automaker at a time it was on the verge of bankruptcy. The government ended up with a roughly $10 billion loss after it sold its stock in GM. Would the government run Intel? U.S. Commerce Secretary Howard Lutnick told CNBC during a Tuesday interview that the government has no intention of meddling in Intel's business, and will have its hands tied by holding non-voting shares in the company. But some analysts wonder if the Trump administration's financial ties to Intel might prod more companies looking to curry favor with the president to increase their orders for the company's chips. What government grants does Intel receive? Intel was among the biggest beneficiaries of the Biden administration's CHIPS and Science Act, but it hasn't been able to revive its fortunes while falling behind on construction projects spawned by the program. The company has received about $2.2 billion of the $7.8 billion pledged under the incentives program — money that Lutnick derided as a 'giveaway' that would better serve U.S. taxpayers if it's turned into Intel stock. 'We think America should get the benefit of the bargain,' Lutnick told CNBC. 'It's obvious that it's the right move to make.'
Winnipeg Free Press
2 hours ago
- Winnipeg Free Press
Pakistan, China and Afghanistan hold summit in Kabul to boost cooperation
ISLAMABAD (AP) — Top diplomats from Pakistan, China and Afghanistan are meeting on Wednesday in Kabul for a trilateral summit aimed at boosting political, regional and economic cooperation, officials said. Pakistan's Foreign Minister Ishaq Dar and Chinese Foreign Minister Wang Yi were received by Taliban officials on arrival in the Afghan capital, according to separate statements issued by Islamabad and Beijing. Afghanistan's Ministry of Foreign Affairs in a statement said the talks, hosted by Kabul, will include 'comprehensive discussions' on a wide range of issues, including political, economic and regional cooperation. According to Pakistan's Ministry of Foreign Affairs, Dar's discussions at the meeting would focus on expanding trade, improving regional connectivity and strengthening joint efforts against terrorism. The last round of the dialogue took place in May in Beijing. The latest development comes more than a month after Russia became the first country to formally recognize the Taliban's governmen t in Afghanistan. While no country, except from Russian, has offered formal recognition, the Taliban have engaged in high-level talks with many nations and established some diplomatic ties with countries including China and the United Arab Emirates.
Toronto Sun
10 hours ago
- Toronto Sun
India's Modi meets China's top diplomat as Asian powers rebuild ties
Pirates hot-head Tommy Pham levels steroids accusation in lashing out at Blue Jays India's Modi meets China's top diplomat as Asian powers rebuild ties Photo by Indian Prime Minister's Office via AP Article content NEW DELHI — Indian Prime Minister Narendra Modi met China's top diplomat on Tuesday and hailed the 'steady progress' made in improving the bilateral relationship after a yearslong standoff between the nuclear-armed Asian powers. Advertisement 2 Story continues below This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account or Sign in without password View more offers Article content Modi also noted 'respect for each other's interests and sensitiveness' in a statement on social media after meeting Chinese Foreign Minister Wang Yi. China's foreign ministry said the countries have entered a 'steady development track' and the countries should 'trust and support' each other. Article content tap here to see other videos from our team. Try refreshing your browser, or India's Modi meets China's top diplomat as Asian powers rebuild ties Back to video tap here to see other videos from our team. Try refreshing your browser, or Play Video Article content Wang arrived in India on Monday and has met with Foreign Affairs Minister Subrahmanyam Jaishankar as well as National Security Adviser Ajit Doval about the countries' disputed border in the Himalayan mountains. India's foreign ministry said Wang's meeting with Doval discussed 'de-escalation, delimitation and boundary affairs.' Relations plummeted in 2020 after security forces clashed along the border. The violence, the worst in decades, left 20 Indian soldiers and four Chinese soldiers dead, freezing high-level political engagements. Your Midday Sun Your noon-hour look at what's happening in Toronto and beyond. There was an error, please provide a valid email address. Sign Up By signing up you consent to receive the above newsletter from Postmedia Network Inc. Thanks for signing up! A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Your Midday Sun will soon be in your inbox. Please try again Article content Advertisement 3 Story continues below This advertisement has not loaded yet, but your article continues below. Article content 'The setbacks we experienced in the past few years were not in the interest of the people of our two countries. We are heartened to see the stability that is now restored in the borders,' Wang said Monday. Modi emphasized the importance of maintaining peace and tranquility on the border and reiterated India's commitment to a 'fair, reasonable and mutually acceptable resolution of the boundary question,' his office said in a statement. The rebuilding of India-China ties coincides with friction between New Delhi and Washington after U.S. President Donald Trump imposed steep tariffs on India, a longtime ally seen as a counterbalance against China's influence in Asia. India is part of the Quad security alliance with the U.S., along with Australia and Japan. Advertisement 4 Story continues below This advertisement has not loaded yet, but your article continues below. Article content 'Compromise at the highest political level' The chill in relations after the deadly clash in 2020 between troops in the Ladakh region affected trade, diplomacy and air travel, as both sides deployed tens of thousands of security forces in border areas. Some progress has been made since then. Last year, India and China agreed to a pact on border patrols and withdrew additional forces along some border areas. Both countries continue to fortify their border by building roads and rail networks. In recent months, the countries have increased official visits and discussed easing some trade restrictions, movement of citizens and visas for businesspeople. In June, Beijing allowed pilgrims from India to visit holy sites in Tibet. Both sides are working to restore direct flights. Advertisement 5 Story continues below This advertisement has not loaded yet, but your article continues below. Article content Last week, the spokesman for India's foreign ministry, Randhir Jaiswal, said India and China were in discussions to restart trade through three points along their 3,488-km border. 'Settling the boundary issue between the two countries requires political compromise at the highest political level,' said Manoj Joshi, a fellow at the Observer Research Foundation, a New Delhi-based think-tank. He also served as a member of the advisory board for India's National Security Council. Modi plans to visit China soon The thaw between Beijing and New Delhi began last October when Modi and Chinese President Xi Jinping met at a summit of emerging economies in Russia. It was the first time the leaders had spoken in person since 2019. Advertisement 6 Story continues below This advertisement has not loaded yet, but your article continues below. Article content Modi is set to meet Xi when he travels to China later this month — his first visit in seven years — to attend the summit of the Shanghai Co-operation Organization, a regional grouping formed by China, Russia and others to counter U.S. influence in Asia. Earlier this year, Xi called for India and China's relations to take the form of a 'dragon-elephant tango' — a dance between the emblematic animals of the countries. Last month, India's external affairs minister visited Beijing in his first trip to China since 2020. U.S., Pakistan play roles in thaw The renewed engagement comes as New Delhi's ties with Trump are fraying. Washington has imposed a 50% tariff on Indian goods, which includes a penalty of 25% for purchasing Russian crude oil. The tariffs take effect Aug. 27. Advertisement 7 Story continues below This advertisement has not loaded yet, but your article continues below. Article content India has shown no sign of backing down, instead signing more agreements with Russia to deepen economic co-operation. Trump's renewed engagement with India's archrival, Pakistan, has also encouraged New Delhi's overtures to China, said Lt.-Gen. D.S. Hooda, who led the Indian military's Northern Command from 2014 to 2016. In June, Trump hosted Pakistan's army chief for a White House lunch and later announced an energy deal with Islamabad to jointly develop the country's oil reserves. Both followed Trump's claims of brokering a ceasefire between India and Pakistan after the two sides traded military strikes in May. That clash saw Pakistan use Chinese-made military jets and missiles against India. 'China is heavily invested in Pakistan and, practically speaking, you can't have any expectation that Beijing will hold back support to Islamabad,' Hooda said. 'But you can't have two hostile neighbours on your borders and simultaneously deal with them also.' — Associated Press writer Aijaz Hussain in Srinagar, India, and video producer Liu Zheng in Beijing contributed to this report. Article content Share this article in your social network Read Next
