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Straits Times
10 hours ago
- Politics
- Straits Times
Philippine defence chief rips China officials in testy exchange over disputed waters
Philippine Defence Secretary Gilberto Teodoro said China's military was 'grabbing territory in the South China Sea'. PHOTO: BLOOMBERG SINGAPORE – Philippine Defence Secretary Gilberto Teodoro engaged in a testy back-and-forth with Chinese officials at a Singapore security forum on June 1, accusing leaders in Beijing of grabbing territory in disputed waters and repressing their own people. During a panel at the Shangri-La Dialogue, two senior colonels in the People's Liberation Army directed questions at Mr Teodoro, asking whether the Philippines would serve as a US proxy in Asia or adopt a friendlier approach toward China. Mr Teodoro thanked the pair for 'propaganda spiels disguised as questions', a line that received rare applause from those in attendance. He went on to lambast China's territorial claims in the South China Sea, saying a lack of trust in Beijing was 'the biggest stumbling block' to resolving the dispute. 'That deficit of trust, which I think any rational person – or any person that is not ideologically biased, with freedom of thought and freedom of speech – will agree with,' Mr Teodoro said. He added that he couldn't trust a country that 'represses its own people'. Tensions between China and the Philippines have escalated under President Ferdinand Marcos Jr, who has pushed back against Beijing's sweeping claims over the strategic waterway, leading to confrontations between their ships. Manila in May said China's Coast Guard fired a water cannon on a state fisheries vessel conducting research in Sandy Cay in the Spratlys area. 'To envision a China-led international order, we only need to look at how they treat their much smaller neighbours in the South China Sea, which runs counter to the 'peaceful rise' they initially promised,' Mr Teodoro said. China claims more than 80 per cent of the South China Sea and backs this up with a 1947 map that shows vague dashes outlining its claims, which are disputed by the Philippines, Vietnam, Brunei and Malaysia. In 2016, an international tribunal said China's sweeping claims have no legal basis, a ruling that Beijing rejects. In an interview with Bloomberg Television's Haslinda Amin later on June 1, Mr Teodoro said China's military was 'grabbing territory in the South China Sea' and expanding its presence to the Arctic and off Australia. 'For us, our biggest threat is China,' he said. 'And on that, we converge not only with the United States but with other countries.' The South-east Asian nation is on the front lines of US-backed efforts to deter China in the region, with the long-time allies ramping up military drills to enhance interoperability. Apart from granting the US military access to more Philippine bases, including some in close proximity to Taiwan, Manila has also signed agreements on mutual military visits with Japan and New Zealand, and is in discussions on similar pacts with Canada and France. China has built artificial islands with military infrastructure in contested waters to bolster its expansive claims. The Philippines has a 'variety of options' in the event Beijing seizes a reef that's close to Philippine shores. 'We have to uphold our territorial integrity and sovereignty,' Mr Teodoro said. 'And we have devised options in our toolkit to deal with contingencies, and we plan for these and train for them accordingly.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Malaysian Reserve
16 hours ago
- Business
- Malaysian Reserve
China bans all poultry imports from Brazil on bird flu case
CHINA has banned imports of all poultry products from Brazil after a bird flu outbreak was detected in the world's top exporter, halting a trade worth more than $1 billion. Direct and indirect imports of all poultry and related products from Brazil are banned in order to prevent the importation of bird flu, China's customs agency said in a statement published late Friday. The agency also said all plants and animal waste arriving from Brazil must undergo disinfestation. The sweeping ban from China, the largest buyer of Brazilian chicken meat, clouds the outlook for exports from the South American country. That comes even as the two nations work to bolster relations amid the ongoing global trade war launched by US President Donald Trump. Earlier this month, Brazil halted chicken shipments to China and the European Union for 60 days after the first case of highly pathogenic avian influenza was reported on a commercial farm in the South American nation. Brazil, responsible for about a third of the world's chicken meat exports, shipped more than 10% of its products to China in 2024, according to data from the Department of Agriculture. The bilateral trade was worth about $1.5 billion in 2024, according to China customs data. –BLOOMBERG
Straits Times
2 days ago
- Business
- Straits Times
Japan says no easy concession on US tariffs, seeks another round in June
Mr Ryosei Akazawa (third from right) briefing members of the media at the Japanese embassy in Washington on May 30, after his talks with US Treasury Secretary Scott Bessent and US Commerce Secretary Howard Lutnick. PHOTO: BLOOMBERG Japan says no easy concession on US tariffs, seeks another round in June WASHINGTON - Japan and the US on May 30 agreed to hold another round of trade talks ahead of the Group of 7 (G-7) summit in June, Japan's top tariff negotiator said, stressing that no deal would be without concessions on all Washington's tariffs, including on autos. Japan's Economy Minister Ryosei Akazawa met US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in Washington for 130 minutes in a fourth round of the trade negotiations. "We agreed to accelerate the talks and hold another round ahead of the G-7 summit in June, where the leaders from Japan and the United States are set to meet," Mr Akazawa told Japanese media gathered at the Japanese embassy in Washington. Japan faces a 24 per cent tariff rate starting in July unless it can negotiate a deal with the US. It is also scrambling to find ways to get Washington to exempt its automakers from 25 per cent tariffs on automobiles, Japan's biggest industry. Mr Akazawa said Japan's position has not changed that the tariffs are not acceptable and he is "strongly urging" the US to immediately reconsider and drop all the tariffs, including those levied on automobiles, auto parts, aluminium and steel. "If our requests to do that are met, we may be able to come to an agreement," Mr Akazawa told Japanese media gathered at the Japanese embassy in Washington. "But if that is not possible, then it will be difficult for us to agree to a deal." Japanese government sources said before the latest meeting that an immediate deal was unlikely, as they would never hastily seal a deal that would not benefit Japan, particularly the automobile sector. Mr Akazawa declined to give details of the latest discussions, but said trade expansion, non-tariff barriers and cooperation in economic security have been on the agenda at every meeting. Semiconductor supply chains and rare earths are among economic security topics, he added. He also said, while he was closely monitoring Nippon Steel's possible deal for US Steel, he could not yet comment on it due to a lack of any official announcement from the US government. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
3 days ago
- Business
- Business Times
US asks judge to dismiss criminal charge over Boeing 737 Max crashes
THE US Justice Department asked a federal judge in Texas to dismiss its criminal case against Boeing over two fatal crashes of its 737 Max jets more than six years ago, despite objections of family members of some crash victims. The move disclosed on Thursday in a court filing is part of a proposed settlement prosecutors reached with the planemaker last week. The case had been set to go to trial on June 23. The government's agreement calls for the company to pay more than US$1.1 billion in fees and fines, while taking steps to strengthen internal quality and safety measures. In return, the company will avoid criminal prosecution. It is a notable reversal in the long-running criminal case against Boeing over two fatal crashes of its 737 Max jet in 2018 and 2019 that killed 346 people. Just last year, Boeing had agreed to plead guilty to the pending criminal conspiracy charge under a deal that was ultimately rejected by US District Judge Reed O'Connor, who has been overseeing the case since it was filed in 2021. BLOOMBERG
Straits Times
3 days ago
- Business
- Straits Times
Ex-Goldman banker Tim Leissner sentenced to two years in prison in 1MDB case
Former Goldman Sachs banker Tim Leissner leaving the court hearing in New York on May 29. PHOTO: BLOOMBERG Ex-Goldman banker Tim Leissner sentenced to two years in prison in 1MDB case NEW YORK - Former Goldman Sachs banker Tim Leissner was sentenced to two years in prison by a judge in a New York court on May 29, after he pleaded guilty in 2018 to his involvement in a multi-billion dollar scandal involving Malaysia's sovereign fund, 1MDB. Leissner's conduct was 'brazen and audacious,' judge Margo Brodie said during sentencing. While his cooperation with the government was taken into account, it did not make up for the harm caused by the corruption at the highest levels in several countries, the judge said. 'First and foremost, I offer my sincere apology to the people of Malaysia,' Leissner, 55, told the hearing, his voice breaking as he read a statement. 'I deeply regret my actions.' Goldman helped sell US$6.5 billion in bonds for 1MDB, which former Malaysian prime minister Najib Razak set up with the help of Malaysian financier Jho Low to promote economic development. US and Malaysian authorities have said US$4.5 billion was siphoned away, with some diverted to offshore bank accounts and shell companies linked to Low, who is now a fugitive. Leissner, former South-east Asia chairman for Goldman, became a US government witness in the case after his arrest in 2018. He pleaded guilty to a conspiracy to violate the Foreign Corrupt Practices Act and participating in a money laundering conspiracy, all tied to his role in the 1MDB scheme. He was allowed to remain free after he agreed to help the government in the investigation and testified against former banking colleague Roger Ng. Leissner met with the government on dozens of occasions, reviewing countless documents and communications he received related to the 1MDB scheme and other matters, according to a filing by prosecutors. Prosecutors requested the court impose a sentence below the applicable guidelines range due to Leissner's cooperation in the probe. Leissner told the court that he had lost his freedom, family and financial independence in the wake of the scandal. The former executive said his health also suffered, and that he took pills and lost the will to live. Goldman said in a letter to the court on May 21 that Leissner deceived his colleagues for years, culminating in the only criminal case filed against Goldman in its 156-year history. Goldman in 2020 paid a nearly US$3 billion fine and arranged for its Malaysian unit to plead guilty in US court. It also clawed back US$174 million in executive compensation. Malaysia's top court in 2022 upheld a guilty verdict against Najib for corruption and money laundering, sentencing him to 12 years in prison. The sentence was later halved by a pardons board chaired by Malaysia's former king. Ng has pleaded not guilty to charges of conspiring to launder money and violate an anti-bribery law. The former head of investment banking for Goldman in Malaysia was convicted in Brooklyn and sentenced to 10 years in prison, but transported to Malaysia in 2023 to assist probes there. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
