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South China Morning Post
11-05-2025
- Health
- South China Morning Post
Drug trial offers hope for patients with hard-to-treat lung cancer in China, US
A new medication has shown promise as a safe and effective therapy for a hard-to-treat type of lung cancer , according to an international clinical trial led by Chinese and US scientists. Advertisement The findings were published in the New England Journal of Medicine (NEJM) on April 28 and presented at the American Association for Cancer Research Annual Meeting in Chicago on the same day. The researchers found that the oral medication zongertinib outperformed the standard treatment option when treating HER2-mutated non-small cell lung cancer (NSCLC). It works by targeting the HER2 protein and blocking the activity of the protein's tyrosine kinase, which is responsible for signalling cell growth. This type of lung cancer is particularly difficult to treat. Unlike other NSCLC variants, it only has one treatment option that has been approved by the US Food and Drug Administration: intravenous antibody-drug conjugate (ADC) therapy. And ADC-class medications carry risks of adverse effects, including diarrhoea, nausea, fatigue and skin rashes. Wang Xin, professor at the Chinese Academy of Medical Sciences Cancer Hospital, said in an April 29 review of the NEJM study that zongertinib had the 'potential to establish a new benchmark for targeted therapy in HER2-mutant NSCLC'. 10:51 New oral treatment for blood cancer offers 97% cure rate, Hong Kong researchers say New oral treatment for blood cancer offers 97% cure rate, Hong Kong researchers say The multi-cohort study was conducted at 82 sites around the world, including 18 US institutions, 17 in China and three in Japan. The analysis published by the NEJM included 188 NSCLC patients, with Asian populations accounting for a majority.
Sky News AU
07-05-2025
- Business
- Sky News AU
Protests erupt in China after furious workers demand back pay as Donald Trump's tariffs on imports jolt economy
Protests from furious factory workers in China demanding back pay are spreading across the country after President Trump's tariffs on Chinese imports began impacting the communist nation's economy. Unrest has been reported across the country as workers have taken to the streets protesting unpaid wages and challenging unfair dismissals following the closures of factories squeezed by US tariffs, according to Radio Free Asia. Chinese industry leaders, meanwhile, are 'extremely anxious' about the steep duties, with many telling factories and suppliers to halt or delay supplies, Wang Xin, head of an industry group representing more than 2,000 Chinese merchants told the Financial Times. At least 16 million jobs across many industries in China are at risk due to President Trump's imposing of a 145% tariff on Chinese imports, according to analysis from Goldman Sachs. 'It's not easy at the moment,' a 26-year-old toy factory worker told the FT. His employer, in the Chinese city of Zhejiang, mostly sells to the US, and management recently forced workers to take two weeks off unpaid in the face of the tariffs. Last month, construction workers threatened to throw themselves off the buildings they were working on unless they received their unpaid wages in the northeastern city of Tongliao, Radio Free Asia reported. Elsewhere, a sporting goods factory in southern Hunan province also shut without warning last month, offering no compensation or social security benefits, leading hundreds of workers to go on strike, the outlet said. Protests in China have increased since the COVID pandemic as the country's economy has struggled to bounce back, Beijing-based activist Ji Feng, who was one of the student leaders during the 1989 Tiananmen Square protests, told Radio Free Asia. Chinese authorities have acknowledged that the tariffs are impacting the country's economy. In April, China's factory activity showed its steepest contraction in 16 months, while new export orders dropped to their lowest levels in three years since the have grown fearful about President Trump's aggressive tactics, however, the contraction in China's industrial output and the protests show the president may still have leverage — despite Beijing raising its own duties on imports of US products to as high as 125%. China's President Xi Jinping has also traveled to his neighboring countries in Southeast Asia as he looks to forge closer ties with Vietnam, Cambodia and Malaysia in response. Simarlarly, China's Foreign Minister Wang Yi has reached out to his counterparts in the UK and the European Union. President Trump has insisted things were going 'fine with China'but it remains unclear whether any meeting between Trump and Xi will take place. The president said he had no plans to speak to his Chinese counterpart this week during a conversation with reporters on board Air Force One on Sunday. 'But China and our people are talking about different things,' he added. Originally published as Protests erupt in China after furious workers demand back pay as Donald Trump's tariffs on imports jolt economy
International Business Times
06-05-2025
- Business
- International Business Times
Protests Erupt in China as Furious Factory Workers Demand Unpaid Wages as Trump Tariffs Cripple Economy
Furious factory workers in China are protesting over unpaid wages, as President Trump's tariffs on Chinese goods begin to weigh on the country's economy. Reports from Radio Free Asia indicate that protests have erupted nationwide, with workers taking to the streets over unpaid wages and unfair layoffs after factory closures linked to pressure from U.S. tariffs. At the same time, Chinese industry leaders are reportedly "extremely anxious" about the high import duties that were imposed by Trump last month. Wang Xin, the head of an industry group representing more than 2,000 Chinese businesses, told the Financial Times that several factories and suppliers are being asked to halt or delay shipments. Mass Protests in China Over Tariffs At least 16 million jobs across various sectors in China are at risk following Trump's implementation of a 145% tariff on Chinese imports, according to a Goldman Sachs analysis. "It's not easy at the moment," a 26-year-old employee at a toy factory in Zhejiang told the Financial Times. The company, which primarily exports to the United States, recently forced it workers to take two weeks of unpaid leave due to the impact of the tariffs. In the northeastern city of Tongliao last month, construction workers threatened to jump from buildings they were working on unless their unpaid wages were cleared, according to Radio Free Asia. Meanwhile, in southern Hunan province, a sporting goods factory suddenly closed down without notice, leaving workers without severance or social security coverage. The sudden closure sparked a strike involving hundreds of employees, the report added. Protests have become more frequent in China since the Covid-19 pandemic, as the nation's economy continues to face challenges, Beijing-based activist Ji Feng—who was a student leader during the 1989 Tiananmen Square demonstrations—told Radio Free Asia. Chinese officials have admitted that the tariffs are taking a toll on the country's economic health. China's Economy Feeling Pressure of Trump's Tariffs In April, China's manufacturing sector witnessed its sharpest decline in 16 months, with new export orders falling to their lowest level since the pandemic began three years ago. While experts have raised concern over Trump's hardline trade policies, the downturn in Chinese industrial production and the rise in protests suggest he may still hold some negotiating power — even as Beijing retaliates with tariffs of up to 125% on U.S. goods. In response, Chinese President Xi Jinping has been visiting neighboring Southeast Asian nations, including Vietnam, Cambodia, and Malaysia, in a bid to strengthen regional ties. Likewise, Chinese Foreign Minister Wang Yi has been in touch with officials from the United Kingdom and the European Union to strengthen diplomatic ties. President Trump has insisted that relations with China are "going fine," though it's still unclear if he and President Xi will meet face-to-face.
Yahoo
15-04-2025
- Business
- Yahoo
China's online retailers give Trump's tariffs a one-star review
SHENZHEN, China - The rapidly worsening trade war between the world's two largest economies is threatening the place where Americans and Chinese most regularly interact: online shopping. Chinese sellers in recent years have made it their business to fulfill - cheaply - every American consumer's every desire: from fake nails and crop tops to fish-tank speakers and night-vision rifle scopes, delivered to American doorsteps via fashion giant Shein, direct-buy retailer Temu or Amazon. Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. But that could all come to an abrupt halt with President Donald Trump's decision to impose a minimum 145 percent tariff on Chinese goods and to end the tax exemption that had allowed small packages to enter the United States duty-free. Many Chinese e-commerce exporters are despairing. 'My biggest worry is that our companies won't survive the next few months and will go bankrupt,' said Wang Xin, head of the Shenzhen Cross-Border E-Commerce Association. As many as 90 percent of the association's members do business in the U.S., and tariffs have forced many factories to suspend operations, cut wages or give weekends off. 'Everyone is waiting to see if China and the U.S. will return to the negotiating table,' Wang said. Trump last week said packages worth less than $800 shipped from China would attract a 120 percent tax from May 2, effectively shuttering the loophole that allowed sellers on Shein, Temu and Amazon to sidestep duties. He said the exemption was being exploited to smuggle synthetic opioids that were fueling the U.S. fentanyl crisis. Shipments from China accounted for around two-thirds of all tax-free small packages entering the U.S., according to Reuters data. Many were from Shein and Temu, but they also came through Amazon. Half of Amazon's top sellers are based in China. (Amazon founder Jeff Bezos owns The Washington Post.) In the early days of the trade war, when tariffs were still in the low double digits, thousands of vendors gathered at an e-commerce expo in this southern Chinese city to learn how to sell to global - and especially American - consumers. Organized by Chwang, one of China's bigger e-commerce service providers, the expo last month brought together online retail entrepreneurs to trade tips on artificial intelligence-driven data analytics, skirting government internet fire walls to advertise on Instagram and ways to make products TikTok-famous. At the time, attendees were mostly upbeat. They pointed to their resilience and adaptability - and the low prices of increasingly competitive goods. They underscored that Chinese sellers had a deep understanding of American sales platforms and buyers that few other countries could replicate. Deng Longyun, Chwang's chief operating officer, said Chinese retailers were committed to their largest export market. 'The U.S. has such formidable consumption power. Chinese sellers will not give up easily,' he said in an interview when U.S. tariffs were only 20 percent and the small-package loophole remained open. Few predicted the triple-digit tariff storm. Now, some in Shenzhen are rethinking their bets on the U.S. market. 'The current policies of the U.S. platforms are really unstable,' said Trevor Tang, an instructor at an e-commerce school that teaches sellers how to use Amazon. 'Many sellers no longer focus on the U.S. because of unclear politics, even though China's consumer goods still have incomparable advantages in a global market.' Online marketplaces such as Amazon and eBay first took root in the United States, but their explosive growth in recent years has in large part been thanks to China: The world's largest manufacturer has become really good at figuring out what Americans want and how to get it to them quickly and cheaply. At the Chwang expo, 3,800 businesses were seeking partnerships to expand overseas. Numerous products appeared designed to appeal to American buyers, such as toy Cybertrucks and 'ice princess' bubble-making wands inspired by the Disney movie 'Frozen.' Even with the end of the small-package exemption, Chinese online retailers are likely to still find ways to reach American buyers - even if they have to do so at higher costs. 'These platforms have proven that they're very adaptable,' said Eli Clemens, a policy analyst at the Information Technology & Innovation Foundation, a Washington think tank. Government policy has encouraged Chinese online retailers to reach foreign consumers directly, rather than relying on American rivals such as Amazon, Clemens said. Because Beijing wants Chinese companies to compete internationally, policymakers have tried to support the industry by setting up industrial parks where companies can receive subsidies for patent applications, trademark registration and logistics networks. That support, combined with a surge of entrepreneurship in manufacturing hubs like Shenzhen, turned online retail into an area where the Chinese and American economies have become more intertwined in recent years, despite simmering trade and technology tensions. Shenzhen alone is home to more than 150,000 online retail exporters and 41 million square feet of warehouses dedicated to overseas shipments. The concentration of e-commerce firms makes the city the ideal base for businesses like that of Liao Changyi, who ships 30,000 to 50,000 sets of plastic press-on nails to buyers across the world each week. 'All the major cross-border e-commerce platforms have offices in Shenzhen. If you have any problems, they can solve them immediately,' Liao said from a spacious sales room where hundreds of different hand-painted fake nail designs were on display. 'We are really a group that just gets swept along with the market. If the competition gets intense, if tariffs rise, taxes and costs increase, all we can do is adapt,' he said. - - - E-tailers focus on American market China has been the factory of the world for three decades, but the rise of online retail supercharged that role. Today, Chinese firms don't just make the products. They build online marketplaces, operate global logistics networks and employ American influencers to promote their goods on TikTok. Platforms such as Shein and Temu brought models pioneered in China to the United States. Using the tax exemption, they could offer a massive variety of cheap and constantly updated products tailored to match the latest trends on American social media. Their success led Amazon to launch a new section - Amazon Haul - in November to make it easier for buyers to purchase cheap goods directly from mostly Chinese sellers. The vast U.S. market - and a proliferation of ways to sell there - also helped create a subset of manufacturers making products especially for the American market. One stall at the expo specialized in two things: stainless steel face massagers and whiskey paraphernalia. 'We still hope to sell to the United States even with tariffs, because there isn't much of a domestic market for these things,' said Mason Zhou, gesturing to a shelf of reusable metal ice cubes shaped like rifle bullets and hand grenades. But there were also early signs of retailers adapting to Trump's tariffs. They were buoyed by surging sales in Southeast Asia and Russia and the emergence of Chinese AI companies such as DeepSeek, which could improve efforts to target consumers in real time and discover gaps in the market. People at the expo were especially excited about the promise of TikTok Shop. Launched in 2023, the platform allows users to sell products directly in the video app, and it has been embraced by Chinese retailers. Trump on April 4 gave TikTok another 75-day reprieve before its China-based parent company, ByteDance, must sell the app or face a ban in the United States. One of the speakers at the expo, 24-year-old seller Vicky Zheng, recently founded a consultancy to teach others how to climb U.S. rankings on TikTok Shop. Her firm has had multiple top sellers on the platform. These include jump ropes that count calories and quirky lamps that were promoted on TikTok by a network of 30,000 influencers in the U.S. and China. Even with tariffs, Zheng still saw opportunities in investing in a mostly unexplored 'blue ocean' market like TikTok Shop - as long as Trump continues to extend the deadline for a nationwide ban. 'The volume on Amazon was so-so right at the time, and TikTok Shop just happened to be a brand-new platform,' Zheng said. After the latest tariff hikes, however, Zheng has started to advise her clients to consider branching out. 'The current situation means it is essential to focus on emerging markets outside the U.S. as a preventive measure against future trouble.' - - - Vic Chiang and Pei-Lin Wu in Taipei, Taiwan, contributed to this report. Related Content Ja Morant dares the NBA to punish him, knowing it won't pull the trigger Scientists are 'X-raying' the Amazon, unlocking a lost human history The Smithsonian could be the beginning of Trump's plan to edit history. Or the end.
Globe and Mail
10-04-2025
- Business
- Globe and Mail
Amazon Stock (AMZN) Pounded as Chinese Sellers Threaten to Quit Over 'Unprecedented' Tariff Hit
Shares in Amazon (AMZN) were lower today as Chinese sellers on the e-commerce site threatened to hike their prices in retaliation for President Trump's 'unprecedented' tariffs strategy. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Raise Prices or Leave According to a report from Reuters, Chinese companies selling products on Amazon are planning to either raise their prices to American consumers or even quit the U.S. market altogether. It was reported that some sellers had already hiked prices by up to 30% and lowered spending on Amazon advertising fees. Other markets they are looking to switch their products to include Canada, Mexico and Europe. This comes after President Trump last night paused his reciprocal tariffs on every country except for China which is now facing a phenomenal 125% tax rate on its imports into the U.S. The trade conflict between the two largest economies in the world could even escalate further. Wang Xin, head of the Shenzhen Cross-Border E-Commerce Association, China's largest e-commerce association, told Reuters that the 'entire cost structure' of Chinese suppliers was being completely overwhelmed. The association represents over 3,000 Amazon sellers which are being hit by customs delays and higher logistics and supply chain costs. 'This isn't just a tax issue,' he said. 'It will be very hard for anyone to survive in the U.S. market. It is an unprecedented blow.' Amazon Being Hit It will also hit Amazon hard with its shares down around 2% in pre-market trading. China is home to around half of Amazon's sellers, with over 100,000 Amazon businesses registered in the southern city of Shenzhen alone, generating annual revenues of $35.3 billion, according to e-commerce services provider SmartScout. Figures from China's State Council also reveal that imports and exports involving cross-border e-commerce were worth $358 billion last year. China also hosts the manufacturing bases of major e-commerce platforms like Shein and Temu. Is AMZN a Good Stock to Buy Now? On TipRanks, AMZN has a Strong Buy consensus based on 46 Buy and 1 Hold rating. Its highest price target is $306. AMZN stock's consensus price target is $263.81 implying an 38.05% upside. See more AMZN analyst ratings Disclaimer & Disclosure Report an Issue
