Ukraine and Europe watch opening moments of Trump-Putin summit in ‘stunned silence'
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New York Times
25 minutes ago
- New York Times
China's Biotech Is Cheaper and Faster
Just outside of Shanghai, in the city of Wuxi, China is building its future of medicine — a booming biotechnology hub of factories and laboratories where global pharmaceutical companies can develop and manufacture drugs faster and cheaper than anywhere else. Amid the Trump administration's tariffs on China, I figured manufacturing hubs like this one would be wracked with anxiety. But when I visited Wuxi in April, government officials insisted that its research hub was flourishing. They were proud to tell me about their superstar labs and companies that are continuing to thrive. The fact that Chinese biotechnology stocks have surged over 60 percent since January seems to bolster this claim. The city's researchers certainly seemed positioned to be busy for decades. In its quest to dethrone American dominance in biotech, China isn't necessarily trying to beat America at its own game. While the U.S. biotech industry is known for incubating cutting-edge treatments and cures, China's approach to innovation is mostly focused on speeding up manufacturing and slashing costs. The idea isn't to advance, say, breakthroughs in the gene-editing technology CRISPR; it's to make the country's research, development, testing and production of drugs and medical products hyperefficient and cheaper. As a result, China's biotech sector can deliver drugs and other medical products to customers at much cheaper prices, including inexpensive generics. These may not be world-changing cures, but they are treatments that millions of people around the world rely on every day. And as China's reach expands, the world will soon have to reckon with a new leader in biotech and decide how it wants to respond. One such company that embodies the Chinese approach to biotech is Wuxi AppTec. It's a one-stop shop for pharmaceutical research and development, streamlining everything from early-stage drug discovery to young scientist recruitment and medication production. The company, whose clients have included Chinese firms like Innovent and Jiangsu Hengrui, as well as American and European drugmakers like Pfizer, GlaxoSmithKline and AstraZeneca, was involved in, by one estimate, a quarter of the drugs used in the United States, including blockbuster cancer drugs. Though the Chinese government bargains hard with both foreign and domestic pharmaceutical companies to provide products at the right price in exchange for market access, the low prices that Chinese consumers pay are ultimately the result of Chinese biotech companies' ability to test and manufacture drugs at a pace far faster than their American counterparts. So far, American biotech giants don't seem to mind the competition, since their own use of companies like Wuxi AppTec allows them to dedicate more of their money to breakthrough research. Want all of The Times? Subscribe.
Yahoo
32 minutes ago
- Yahoo
US cancels India trade talks scheduled for August, NDTV Profit says
(Reuters) -A planned visit by U.S. trade negotiators to New Delhi from August 25-29 has been canceled, delaying talks on a proposed bilateral trade agreement, Indian business and financial news network NDTV Profit reported on Saturday, citing people familiar with the matter. The current round of negotiations for the proposed bilateral trade agreement is now likely to be deferred to another date, the report said, dashing hopes of some relief before the Aug. 27 deadline for the additional tariff on Indian goods kicks in. Reuters could not immediately verify the report. Earlier this month, U.S. President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations. The new import tax, which will come into effect from Aug 27, will raise duties on some Indian exports to as high as 50% - among the highest levied on any U.S. trading partner. Trade talks between New Delhi and Washington collapsed after five rounds of negotiations over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. India's Foreign Ministry has said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia. Melden Sie sich an, um Ihr Portfolio aufzurufen.
Yahoo
40 minutes ago
- Yahoo
Hundreds gather at Lake Merritt to protest Texas congressional gerrymandering
The Brief Hundreds gathered at Lake Merritt on Saturday to protest the proposed redrawing of Texas' congressional districts. Texas lawmakers are attempting to gerrymander their state, to send more Republicans to Washington ahead of the 2026 election. Gov. Gavin Newsom has proposed similarly redistricting California to offset the additional Texas Republicans. OAKLAND, Calif. - Hundreds of Bay Area residents gathered in Oakland on Saturday to push back against President Trump's attempt to gerrymander Texas. Multiple elected officials, including Oakland Mayor Barbara Lee, Congresswoman Lateefah Simon assembled at the Lake Merritt Amphitheater, and Alameda County Supervisor Nikki Fortunato Bas, spoke to the crowd of nearly 400 people. "Trump and his Republican allies are trying to steal the 2026 election by redrawing districts in their favor and attacking our voting rights," Bas said at the event. "This attack on our democracy may have started in Texas, but without immediate action, it can sweep dangerously across our country." The event featured a 15-foot-tall inflatable chicken with orange hair, meant to represent President Trump, as well as several large, cardboard rotten eggs with the names of Texas politicians — including Senator Ted Cruz and Governor Greg Abbott — involved in the push to redraw the state's maps. "This unparalleled attack on democracy would not be possible without the Texas Republicans who are answering not to the people, but to one man: Donald Trump," Keith Brown of the Alameda Labor Council said. "California will not sit back and watch the erosion of our democracy." Indeed, California has responded to the Lone Star State's redrawn congressional map. Governor Gavin Newsom on Saturday released a map that showed the proposed redistricting of California's congressional districts. If approved, the map would add more democratic congressional seats to balance those that would be eliminated by the redrawn Texas map. Pushing back The backstory Texas' lawmakers are considering a new map that would help them send five more Republicans to Washington, but Democrats have so far halted that effort by leaving the state to prevent their GOP colleagues from meeting Trump's demands. "We can't stand back and watch this democracy disappear district by district, all across this country," Newsom said at a Los Angeles press conference on Thursday. "Not just in Texas, but in Missouri, where J.D. Vance went just a week ago, in Indiana, in places like Ohio and places like Florida. We need to stand up, not just in California. Other blue states need to stand up." There are 435 seats in the U.S. House. Of those, Republicans currently hold a 219-212 majority, with four vacancies. New maps are typically drawn once a decade, after the census is conducted. Proposed changes By the numbers Many states give legislators the power to draw maps but some, including California, rely on an independent, non-partisan commission. The redrawn map is consistent with the criteria laid out by the California's Citizen Redistricting Commission, and keeps district more compact than the current map, which helps to keep more communities and neighborhoods in the same district. The new map splits fewer cities than the current map — 57 in the submitted map versus 60 in the current map. The proposed redistricting would leave eight districts untouched and would, in 20 districts, impact fewer than 10% of residents. The new map will be put forth to voters in a special election, with the California legislature set to take up the issue next week, to call for a vote on Nov. 4.
