U.S. President Donald Trump signed a $716 billion defense policy bill on Monday that authorizes military spending and includes watered-down controls on U.S. government contracts with China's ZTE Corp and Huawei Technologies Co Ltd [HWT.UL]. Trump signed the law at the U.S. Army's Fort Drum base in upstate New York on his way back to Washington after a 12-day working vacation at his golf club in New Jersey. The bill was named for one of Trump's political critics, the ailing U.S. Senator John McCain of Arizona, but he did not mention McCain's name.
PUTRAJAYA, Malaysia (AP) - Malaysia is looking to cancel multibillion-dollar Chinese-backed infrastructure projects signed by the previous scandal-tainted government as it digs itself out of debt, Malaysia's prime minister said Monday during an extensive interview in which he also blasted Myanmar's treatment of Rohingya Muslims as "grossly unjust."
China's money-printing industry is running at "full steam" for foreign clients including Thailand, Bangladesh, Sri Lanka, Malaysia, India, Brazil, and Poland, according to reports. The printing is linked to China's Belt and Road Initiative, which has seen China build infrastructure and invest in about 60 countries in Europe, Asia, and Africa. "A nation must have considerable trust in the Chinese government to allow it to print its banknotes," Hu Xingdou, a professor of economics at the Beijing Institute of Technology, told the South China Morning Post.
As China's leaders gather for their annual Yellow Sea retreat, the country's political waters are looking choppy. Chinese President and ruling Communist Party leader Xi Jinping is beset by economic, foreign policy and domestic political challenges just months after clearing his way to rule for
Massively stepped-up security in China's restive far western region of Xinjiang has helped prevent "great tragedy", a state-run newspaper said on Monday, in the country's first response to a critical United Nations report on the situation there. A U.N. human rights panel said on Friday