Zhengzhou, China’s iPhone factory faced a violent workers’ revolt last week

Trade & Border IssuesHot SpotsCovid-19
Written By Jennifer Joslyn
WWE performer looks shocked.

Uh Oh Wrestling GIF By WWE via GIPHY

📲 Zhengzhou, China’s iPhone factory faced a violent workers’ revolt last week.

\Apple’s supply chain took another blow as protests broke out among newly-hired staff at the location. Claiming the management broke promises made to the workers, the staff clashed with officers in hazmat suits. Soon thereafter, those who protested were offered cash to quit their jobs and leave the premises. This, on top of the ongoing production shutdown in Foxconn’s campus in Zhengzhou, is crippling for Apple. Approximately 5% of iPhone 14 sales will be affected due to these issues.

Read more from CNN ▶

Featured
Oil Speculators Reduce Bets Amid China Worries
Oil Speculators Reduce Bets Amid China Worries

Oil traders have cut their net long positions in Brent and WTI due to concerns over China's economy.

Elon Musk Criticizes US Tariffs on Chinese Electric Vehicles
Elon Musk Criticizes US Tariffs on Chinese Electric Vehicles

Elon Musk has recently spoken out against US government tariffs on Chinese electric vehicles, calling them “not good” and market-distorting.

Chinese Hacking Targets European Cargo Shipping
Chinese Hacking Targets European Cargo Shipping

A top cybersecurity firm, ESET, has uncovered Chinese hacking attempts in the European cargo shipping industry, marking the latest instance of China-aligned groups infiltrating Western economic infrastructure.

U.S. Warns of Economic Impact if Taiwan Chip Production Is Disrupted
U.S. Warns of Economic Impact if Taiwan Chip Production Is Disrupted

Commerce Secretary Gina Raimondo emphasized that a potential Chinese invasion of Taiwan and the takeover of chip manufacturer TSMC would be catastrophic for the U.S. economy.

TikTok Takes the Feds to Court Over Security vs. Free Speech
TikTok Takes the Feds to Court Over Security vs. Free Speech

TikTok has filed a lawsuit challenging a new federal law that could force its Chinese parent company, ByteDance, to sell the app or face a ban in the U.S.

Biden Proposes Tripling Tariffs on Chinese Steel and Aluminum Imports
Biden Proposes Tripling Tariffs on Chinese Steel and Aluminum Imports

President Joe Biden is advocating for a significant increase in tariffs on Chinese steel and aluminum imports, proposing to triple the current rates.

The Big Shift in U.S. Imports: More Containers, Higher Prices
The Big Shift in U.S. Imports: More Containers, Higher Prices

Here’s a quick rundown on the latest U.S. import scene: Inflation’s not the only thing on the rise – we’re seeing a significant increase in imports from China, especially after their factories reopened post-Lunar New Year.

China and Russia Strengthen Supply Chain Ties Amid U.S. Warnings
China and Russia Strengthen Supply Chain Ties Amid U.S. Warnings

China and Russia recently committed to maintaining stability in their industrial supply chains.

Yellen's Firm Stance on China's Industrial Capacity
Yellen's Firm Stance on China's Industrial Capacity

U.S. Treasury Secretary Janet Yellen recently wrapped up a series of meetings in China, where she firmly addressed the issue of Chinese overproduction and its impact on global markets.

China's Manufacturing Dominance is Shifting Global Trade Dynamics
China's Manufacturing Dominance is Shifting Global Trade Dynamics

The global market is currently flooded with goods from Chinese factories, ranging from cars and appliances to computer chips and electronics.

U.S. House Pushes for TikTok Divestment
U.S. House Pushes for TikTok Divestment

The U.S. House of Representatives is speeding up a vote next week on a bill that would force China's ByteDance to sell off TikTok within six months or face a U.S. ban.

U.S. Lawmakers Introduce Bill Urging ByteDance to Divest TikTok Over National Security Concerns
U.S. Lawmakers Introduce Bill Urging ByteDance to Divest TikTok Over National Security Concerns

A bipartisan group of U.S. lawmakers has introduced legislation to push China's ByteDance, owner of TikTok, to divest the app within six months or face a U.S. ban due to national security concerns over its Chinese ownership.

There Are Shifting US-China Trade Dynamics and WTO Reform
There Are Shifting US-China Trade Dynamics and WTO Reform

The US's top trade official, Katherine Tai, suggested to the BBC that the sharp decline in trade with China might not be all bad news, hinting at potential benefits from diversification.

Apple Hits Pause on Electric Car Project
Apple Hits Pause on Electric Car Project

Apple has decided to pump the brakes on its electric car project, a move that could positively impact its stock performance, according to a report by Morgan Stanley.

America's Automotive Titans Struggle Amidst Foreign Competition and Policy Dilemmas
America's Automotive Titans Struggle Amidst Foreign Competition and Policy Dilemmas

The recent woes faced by America's leading automakers - Ford, General Motors, and Stellantis - have gone largely unnoticed amidst their impressive profits.

U.S. Aims to Strengthen Indo-Pacific Defense Cooperation
U.S. Aims to Strengthen Indo-Pacific Defense Cooperation

The U.S. is ramping up defense industrial cooperation with Indo-Pacific partners like Japan, India, and others to bolster supply chain resilience amid threats, particularly from China.

Alibaba Reveals Chinese Government Stakes in Business Units
Alibaba Reveals Chinese Government Stakes in Business Units

Alibaba Group Holding Ltd. revealed a deeper involvement of Chinese government entities in its various business arms following an inquiry from the US Securities and Exchange Commission.

There Are Challenges and Opportunities in the U.S.-China Business Relationship
There Are Challenges and Opportunities in the U.S.-China Business Relationship

In recent years, American CEOs have been drawn to China's vast consumer market, but doing business there has become increasingly challenging and risky.

TSMC Expands to Japan to Diversify Supply Chains Amid Trade Tensions
TSMC Expands to Japan to Diversify Supply Chains Amid Trade Tensions

Taiwan Semiconductor Manufacturing Company (TSMC) recently inaugurated its inaugural chip plant in Japan, a move aimed at diversifying its supply chains amidst escalating trade tensions between the U.S. and China.

China's Satirical Shift is Navigating Economic Realities and State Narratives
China's Satirical Shift is Navigating Economic Realities and State Narratives

The rise of dark satire in China's online realm sheds light on a growing phenomenon.

China's Hyperloop Dream is Breaking Speed Barriers and Redefining Travel
China's Hyperloop Dream is Breaking Speed Barriers and Redefining Travel

Imagine zipping from New York to Los Angeles in less than an hour or hopping from London to Paris in just 15 minutes.

U.S. Authorities Detain Luxury Cars Over Forced Labor Concerns
U.S. Authorities Detain Luxury Cars Over Forced Labor Concerns

U.S. authorities are holding thousands of luxury cars from brands like Porsche, Bentley, and Audi due to a part that violates laws against importing goods made with forced labor in China.

US Congress Passes Bill Banning Pentagon from Using Chinese Logistics Platform
US Congress Passes Bill Banning Pentagon from Using Chinese Logistics Platform

The U.S. Congress has passed legislation banning the Pentagon from using seaports worldwide that rely on the Chinese logistics platform LOGINK.

Yellen Emphasizes Stabilizing U.S.-China Relationship and Collaboration on Key Issues
Yellen Emphasizes Stabilizing U.S.-China Relationship and Collaboration on Key Issues

U.S. Treasury Secretary Janet Yellen expressed the importance of stabilizing the U.S.-China relationship during a dinner hosted by the U.S.-China Business Council.

US Commerce Secretary Voices Alarm Over China's Chip Breakthrough Amid Huawei Concerns
US Commerce Secretary Voices Alarm Over China's Chip Breakthrough Amid Huawei Concerns

Commerce Secretary Gina Raimondo's got her eyebrows raised about China's chip wizardry, and she's saying Uncle Sam won't sit back.

Lawmakers Ramp Up Scrutiny of Shein Over IPO and Forced Labor Allegations
Lawmakers Ramp Up Scrutiny of Shein Over IPO and Forced Labor Allegations

Lawmakers are intensifying their scrutiny of Shein, a Chinese fashion retailer, following its confidential filing for an initial public offering (IPO) in the United States.

US Commerce Secretary Signals Expanding Tech Export Controls to Slow China's Tech Advancements
US Commerce Secretary Signals Expanding Tech Export Controls to Slow China's Tech Advancements

U.S. Commerce Secretary Gina Raimondo stated in an interview that more controls on tech exports to China will be implemented as needed, despite concerns from businesses.

APEC Summit in San Francisco Put The City in a Global Spotlight
APEC Summit in San Francisco Put The City in a Global Spotlight

The Asia-Pacific Economic Cooperation (APEC) summit in San Francisco drew leaders and CEOs, including Chinese President Xi Jinping and President Joe Biden, showcasing the city to the world.

San Francisco APEC Conference Leaves Local Businesses Struggling Instead of Thriving
San Francisco APEC Conference Leaves Local Businesses Struggling Instead of Thriving

The APEC conference in San Francisco had a negative impact on businesses in the area, contrary to expectations of a boost in business.

President Xi Jinping Dines with Top U.S. CEOs Amid Criticism and Controversy
President Xi Jinping Dines with Top U.S. CEOs Amid Criticism and Controversy

China's President Xi Jinping attended a dinner in San Francisco with prominent American CEOs, including Tim Cook of Apple, Elon Musk of Tesla, and Larry Fink of BlackRock, among others.

Jennifer Joslyn
Previous

The price of diesel has fallen 17.2 cents in two weeks
Next

Americans feel “unsafe” while driving near big rigs, according to study