Chinese Economy Watch

[E-195]

“China is not superior in technology even to Mexico,"
Sorry, I don't think Mexican technology is comparable to China's.

Why do not you say i do not think you have recieved more tech transfers than China.

You have a very distorted view of the capacity of China.

Technology is not a fetish that only superior races have.

Technology is the result of the needs humans have, got it?


MXP-650 – “AMIGO-S”


I will ask is WACSA an inferior company?

The answer the MXP-650 is a light aircraft, thus it is in a niche for some type of needs.

Is it a jet?

No, it is not; build a propeller aircraft responds to a realistic need of lower speed, lower price, because a jet spends more fuel.

So tell me C9019 is more advanced?

The reality is not because aircraft fill needs; C919 does not fill the needs for MXP-650 was made for.

Why Colombia does not make a Jet?

Answer simple market and profits.

A jet demands more expenses and very large numbers.

A-320 has made 10000+ and Boeing 737 10000+ so tell me how many aircraft C919s have to make a profit very likely around 500, no orders, real aircraft.

Why then Mexico has not a larger program?

Simple by being providers your investment is lower and profits higher.

Good luck C919 has not even made enough to pay for its investment and research.

Chinese electric vehicle maker WM Motor files for bankruptcy​

Company blames COVID, quiet capital market and rising raw material prices

Chinese electric vehicle maker WM Motor files for bankruptcy

Company blames COVID, quiet capital market and rising raw material prices

asia.nikkei.com

Chinese EV makers in bankruptcy crisis​

Chinese EV makers in bankruptcy crisis

Amidst a cutthroat battle for nearly a year in 2023, the Chinese auto market is expected to experience a major elimination round in 2024 with models that have lower-than-expected sales likely to be forced out of the market. Some automakers may also need to quit the auto business to strive for...

www.digitimes.com

As BYD and Geely both jock for EV world domination, it can be easy to assume that all Chinese EV manufacturers are similarly destined for greatness. Actually, the truth is a bit more mixed. Big players like those two are doing well, but China's many, many smaller brands are facing some of the same profitability issues and lackluster sales that face any other EV startup elsewhere in the world.

https://insideevs.com/news/710518/hiphi-shutdown-cash-production-pause/

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https://www.ft.com/content/43da3223-2311-4b73-97d9-83d20baedc6a

There are approximately 50 domestic EV brands in China that produce pure-electric cars and plug-in hybrids, according to information compiled by research company MarkLines.But by 2030, “there will be between 10 and 12 major Chinese automakers operating on a large scale”, said UBS analyst Paul Gong.Since Tesla sparked a price war in China late last year, the pace of industry consolidation has picked up. WM Motor, another EV start-up based in Shanghai founded by a former chair of Volvo China, told creditors last week that it had started restructuring proceedings in early October.Other Chinese companies Singulato Motors and Levdeo became involved in bankruptcy proceedings in recent months, while Shanghai-based EV start-up Enovate suspended production in April.

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www.ft.com

Ultralight aircraft: Colombia is an exporter of technology with the sale of light aircraft designed and manufactured in the country. For example, the companies Ibis Aircraft S.A., Aeroandina S.A. and Aerodynos de Colombia S.A., from Valle del Cauca, manufacture these vehicles that are sold in the United States, Europe, Israel and South Korea.

Estos son 12 curiosos productos colombianos de exportación que posiblemente no conocía

Más allá del café y las esmeraldas, Colombia brilla en el mercado global con productos innovadores que están conquistando el mundo

www.infobae.com

“I have the philosophy that an aircraft should be built with the criterion that a human being is going to ride in it, that is why, at present, I have close to 700 planes flying around the world and so far there have not been any accidents in any of them,” says Tedesco proudly.

La asombrosa historia de los aviones “made in Colombia” que lograron ganarse un sitio de honor en cielos internacionales

Máximo Tedesco desde su empresa en el Valle del Cauca ha exportado sus aeronaves a distintos puntos del planeta desde hace más de 50 años, ya cuenta con certificación en Europa y puede decir con orgullo que ninguno de sus aparatos ha sufrido un accidente

www.infobae.com

did you know that Colombia exported light aircraft? so far they have exported more aircraft than COMAC

 

[srev2004]

China’s manufacturers are going broke

Overcapacity is leading to soaring bankruptcies

www.economist.com

 

[E-195]

BANGKOK (AP) — Auto sales in China faltered in July, falling 5% from a year earlier, the China Association of Automobile Manufacturers said Friday, although exports jumped about 20% as makers of electric vehicles expanded into global markets.

Sales of passenger cars totaled about 2 million units, with about 1.6 million sold inside China, a year-on-year decline of 10%. Total exports of passenger vehicles jumped more than 20% to 399,000 units.

China auto sales fall in July, while exports jump about 20% as automakers expand across the globe

Auto sales in China faltered in July, falling 5% from a year earlier, the China Association of Automobile Manufacturers said Friday, although exports jumped about 20% as makers of electric vehicles expanded into global markets. Sales of passenger cars totaled about 2 million units, with about...

www.yahoo.com

 

[helin]

Foxconn Ramps Up Hiring at Largest iPhone Plant in Readiness for New Phone's Launch
Dou Shicong

Foxconn Ramps Up Hiring at Largest iPhone Plant in Readiness for New Phone's Launch
(Yicai) Aug. 9 -- Hon Hai Precision Industry, better known as Foxconn, has begun a new round of recruitment at the Chinese Apple supplier's factory in Zhengzhou, the largest iPhone assembly plant in the world, as the release of the latest series approaches.

Foxconn will offer a rebate of up to CNY7,500 (USD1,045), a one-time subsidy of CNY500 (USD69.70), and an hourly wage of between CNY23.50 and CNY26 (USD3.30 and USD3.60) to temporary employees recruited for the production of the iPhone 16 series, according to a job listing the Zhengzhou factory released yesterday.

US tech giant Apple releases its next-generation iPhone series in September each year, with the period until December being Foxconn's peak production season.

Due to the significant seasonal fluctuations in iPhone production orders, Foxconn typically recruits temporary workers through a rebate scheme to meet demand during the peak season. Unlike standard hourly workers, temporary staff must work at the firm for a certain period to qualify for the rebate while receiving a monthly base salary and overtime pay.

Production orders for the iPhone 16 series will likely reach around 87 million units in the second half of this year, lower than the 91 million iPhone 15 ordered last year, said Ming-Chi Kuo, an analyst at TF International Securities.

With Foxconn setting up factories in India and Vietnam recently, there have been ongoing market rumors that the Taipei-based company will move its supply chain away from China.

Some base iPhone models and other hardware parts can be made in India, but premium models, including the Pro and Pro Max, will be produced in China, Dan Ives, an analyst at leading advisory firm Wedbush Securities, recently told Yicai.

In addition, Foxconn continues to increase its investment in the Chinese mainland. In July, it said it will spend CNY1 billion (USD139.5 million) to build a new headquarters in Zhengzhou to support new business development, including electric vehicles, digital health, and robotics.

 

[rockdog]

China’s manufacturers are going broke

Overcapacity is leading to soaring bankruptcies

www.economist.com

 

[rockdog]

BANGKOK (AP) — Auto sales in China faltered in July, falling 5% from a year earlier, the China Association of Automobile Manufacturers said Friday, although exports jumped about 20% as makers of electric vehicles expanded into global markets.

Sales of passenger cars totaled about 2 million units, with about 1.6 million sold inside China, a year-on-year decline of 10%. Total exports of passenger vehicles jumped more than 20% to 399,000 units.

China auto sales fall in July, while exports jump about 20% as automakers expand across the globe

Auto sales in China faltered in July, falling 5% from a year earlier, the China Association of Automobile Manufacturers said Friday, although exports jumped about 20% as makers of electric vehicles expanded into global markets. Sales of passenger cars totaled about 2 million units, with about...

www.yahoo.com

View: https://youtu.be/cBtUiHRH93M?si=woHbNwLoLRn3hgD_

 

[E-195]

View: https://youtu.be/cBtUiHRH93M?si=woHbNwLoLRn3hgD_

China’s exports miss target in warning signal for Beijing
Policymakers are relying on strong trade to weather weak domestic economy




China’s export growth missed expectations last month in dollar terms, in what analysts said was a signal to policymakers that their heavy dependence on trade to overcome a weak domestic economy may be facing growing risks.

In contrast to exports, imports rose sharply, reversing previous falls as industry procured machinery and capital goods to sustain rising investment.

Exports rose 7 per cent year on year in dollar terms in July, according to official data released by China’s General Administration of Customs on Wednesday, lower than an 8.6 per cent rise in June. A Reuters poll of analysts had forecast growth of 9.7 per cent.

Imports rose 7.2 per cent, far outpacing the 3.5 per cent growth predicted by the Reuters poll and up from a decline of 2.3 per cent year on year in June.

“[Chinese policymakers] will probably look at this and think the export engine is probably going to slow down sooner than they thought,” said Louise Loo, lead economist at Oxford Economics.

China’s economy has depended on trade and industrial output to offset a prolonged real estate downturn and souring local government finances, which have knocked consumer confidence and household spending.

Investor confidence has also been hit by government crackdowns and Beijing’s insistence on providing only an incremental stimulus, rather than a big bang, to reach its official economic growth target of 5 per cent.

China’s exports miss target in warning signal for Beijing

Policymakers are relying on strong trade to weather weak domestic economy

www.ft.com

Mexico launches anti-dumping investigation into Chinese footwear
The government observes a considerable increase in imports since 2020, which has damaged the national industry.

The Government will initiate an anti-dumping investigation against imports of Chinese footwear due to prices that have distorted the national market, which could generate tariffs on these products.

The Ministry of Economy reported in the Official Gazette of the Federation (DOF) a considerable increase in imports of this footwear starting in 2020, and with prices lower than those applied in the Chinese market.

“(Prices) with which Mexican national production cannot compete, which generates an impact on the economic and financial indicators of the national footwear industry,” it indicated.

The products that are subject to review are: boots with synthetic uppers and synthetic soles; basic, formal and dress sandals with synthetic uppers and synthetic soles, sports tennis shoes with synthetic uppers and synthetic soles.

In addition to sports tennis shoes with textile uppers and synthetic soles; casual footwear with textile upper and synthetic sole, and basic, formal and dress sandals with textile upper and synthetic sole.

For this analysis, the agency obtained import statistics to corroborate the increase in imports of Chinese footwear and the prices at which they enter the country.

In addition, it requested information from the National Chamber of the Footwear Industry and the Chamber of the Footwear Industry of Guanajuato, as heads of the sector.

In this sense, it found that these products were imported into the country with a price undervaluation of 37%, 31% and 42% since October 2020.

Of the total footwear imports from 64 countries, 62% correspond to China, followed by Vietnam, 21%, Indonesia 10%, Brazil 2%, Cambodia, 1.1% and India, 0.9%, among others.

The Ministry of Economy warned that it will impose “definitive compensatory quotas,” that is, tariffs on all products that are found to have an impact on the national footwear industry.

Last Tuesday, the Government announced the increase in tariffs on 544 products originating in China, such as steel, aluminum, textiles, chemical products, plastics, among others, due to the same impact on national industries.

México inicia investigación antidumping a calzado chino

El gobierno observa un aumento considerable de importaciones desde 2020, el cual ha dañado a la industria nacional.

www.forbes.com.mx

The investigation, which began last October and will last 13 months, is based on the European Commission's assumption that Chinese importers of electric vehicles are benefiting from excessive state subsidies in their home country, which is why their prices may be "artificially" low.

La UE cree saber por qué las marcas chinas pueden vender autos eléctricos tan baratos en México: los subsidia el gobierno de China

La Comisión de la Unión Europea abrió una investigación en contra de BYD, Geely y SAIC (mejor conocido por vender los MG), por lo que los investigadores...

www.xataka.com.mx

Chinese manufacturers have managed to offer competitive prices thanks to several factors. Shawn Xu, vice president of Chirey International, highlighted the importance of production volume, access to key raw materials and vertical integration of processes.

"This efficiency allows us to reduce costs and offer competitive prices in the market," he said.

Chinese manufacturers also receive government incentives that most Western ones do not get, something that has already sparked an investigation into Beijing's public subsidies for electric cars. European Commission President Ursula von der Leyen recalled at the start of the investigation the negative impacts that Chinese business practices have had on sectors such as the solar panel industry. However, the Asian giant's trade ministry defended these practices as a competitive advantage gained through hard work and continued technological innovation.

Los fabricantes chinos detonan una reducción en los precios de los autos nuevos

La competencia entre fabricantes chinos y occidentales ha llevado a una mayor variedad de opciones y precios más accesibles en el mercado automotriz mexicano.

expansion.mx

 

[E-195]

The slowdown of the Chinese economy has contributed to generating an oversupply of goods that is beginning to flood different markets around the world. This situation is already impacting industrial sectors in Latin America. As stated in the article published by the AFP agency, “Cheap Chinese steel threatens jobs in Latin America”, in 2023 “the region imported a record 10 million tons of steel from that country, an increase of 44% compared to the previous year. Two decades ago, the figure was only 85,000 tons.” Alejandro Wagner, executive of Alacero (Latin American Steel Association), said that “China is too present in Latin America.”

It is important to note that the excess production of steel in China is closely related to the crisis in the construction sector in that country, which, as is evident at this point, will face additional problems in the short-medium term. The real estate sector represents 25-30% of China's GDP, so a structural crisis there is affecting its entire economy today and will soon affect much of the global economy. China is 18% of the world's GDP and 30% of 18 is 5.4, meaning that the Chinese real estate crisis has a direct impact on 5.4% of the global economy. It is an impressive number and Latin American countries must take due note of the difficulty that this represents for the near future.

China's aggressive dumping in the steel industry may represent a change of era. Why? Because until the appearance of COVID in December 2019, China had been for the West a concrete short-medium term commercial opportunity and a diffuse medium-long term institutional cost. However, now the institutional and moral cost of the close relationship developed with that dictatorship has different material facets: for example, the aforementioned Chinese dumping in the production and marketing of steel has repercussions in the threat to thousands of jobs in various Latin American countries, mainly in the main producers.

This question is crucial: the long term has arrived. Sometimes it “takes a while,” but the long term always arrives. This means that we can finally begin to see in daily life how the bad moral and institutional decisions of the past have an impact on the well-being of millions of families in our region, particularly families of workers in low-middle-income and low-income countries. Of course, this will increasingly be the case in even more disadvantaged regions and countries such as, for example, the African continent, where China has taken advantage of socioeconomic emergencies to plunder markets and capture natural resources and strategic geographic spaces. Thus, according to the aforementioned AFP article, in 2022 China has led global steel production with 54%, followed by India with 6.6%. The main producers in Latin America (Brazil, Mexico, Argentina and Colombia) obtained a combined 3.1%. “In Latin America, around 1.4 million people work in the steel industry… and Chinese steel is now sold up to 40 percent cheaper than it could be produced viably in the region.”

This commercial behavior of China in the steel industry in Latin America is representative of the strategies that Beijing is developing and will develop around the world in the next decade. Given this, it is possible to think of national responses but it is also necessary to promote regional approaches. In this sense, a response that tries to articulate the growing distrust of the West towards China after what happened with COVID could resort to a strategy that combines near-shoring and friend-shoring from a regional perspective.

Beijing's use of dumping could then be responded to in an institutional key, that is, by emphasizing the similarities that the democracies of the region have in order to rethink, together with the United States, a tacit commercial-institutional area based on the articulation of proximity (near-shoring) and trust (friend-shoring). While on the one hand it has been very difficult in recent years to promote a free trade agreement with the United States (by the way, both with the Democratic administrations of Obama and Biden and with the Republican administration of Trump), the possibility now appears of thinking of a regional alliance first in a reactive key, that is, that activates the democratic springs of a group of small and medium-sized countries, converging on a similar commercial policy that seeks to prevent the systematic exercise of dumping by China. This initial construction of an "affectio-societatis" to limit the damage of China's aggressive commercial-industrial policy could be the first step to then build confidence towards a continent
In this new context that has been consolidated mainly from the opacity generated by Beijing around COVID, it is possible to highlight that the exercise of dumping has ceased to be a merely commercial practice on the part of China to now become evident as an institutional practice that seeks and will deliberately seek the division between high, medium and low income liberal democracies. While the European Union and the United States suffer from unfair Chinese behavior in, for example, the electric car market and the solar panel market, Latin America is severely impacted by the flood of steel. The world has begun to suffer from a trade policy that is basically institutional: using the installed capacity developed in the last 20 years to unfairly flood different economies with cheap products, seeking at the end of the day to indirectly harm the competitive companies of its main global contenders.

Next, a potential new convergence on the American continent could then be thought of through the collective decision to prevent, for example, the arrival of subsidized Chinese steel, which, based on this policy of reaction, then seeks joint policies for positive action, towards the construction of regional trust.

La agresiva política comercial China comienza a generar problemas en América Latina

La agresiva política comercial China comienza a generar problemas en América Latina Opinión - El Mundo CR

elmundo.cr

 

[E-195]

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The price of Chinese electric cars sold in Mexico will see a sharp increase starting in October 2024, which could reach up to more than 35% for the final consumer.

This is due to the end of a period of exemption from the collection of tariffs – or import taxes – that the Mexican government granted in 2020 and which ends on September 30 of this year, unless the government decides to extend the decree, although so far that has not happened.

Thus, electric cars of Chinese brands that enter the country will have to pay a 20% tariff starting next October 1, the cost of which will be transferred directly to the final price of each unit.

Autos eléctricos chinos suben de precio en octubre

El precio de los autos chinos subirá hasta 35% o más, debido al término de un periodo de condonación de aranceles que el gobierno mexicano fijó en 2020

www.publimetro.com.mx

Are Chinese cars cheaper than the ones made in Mexico?

Let us see, the ones in Mexico have labor as cheap as China, in Mexico companies use Robots, do not pay tariffs nor ship and container costs.

So how come they are usually 20% cheaper?

Because of this level of competition at home, these brands are offering their products in some cases almost three times the price they would have in China. Another example in another currency is the BYD Yuan Plus, which in Europe, depending on its version, is between 81% and 174% more expensive than it costs in China. In Germany, a BYD Dolphin costs $37,439 euros, while in China its value would be equivalent to $16,524 euros.Setting these prices is simply a way of compensating for the very low margins they have in their own market due to the strong competition between companies, since practically all of them, having the support of the government, can manage these very low prices in their country.

In Mexico, the King variant we have is not the most affordable and its price in pesos is $499,800, an equivalent in China should be around $250,000 to $300,000 pesos

Al doble o triple de caros son los autos chinos en mercados extranjeros: un reporte lo demuestra

A pesar de ello siguen siendo mucho más accesibles que las ofertas tradicionales.

noticias.autocosmos.com.mx

China is experiencing an ongoing price war on electric cars. Aiways (bankrupt) only sees one way out: Europe
Aiways is fighting to stay alive and its plan is to leave the competitive Chinese market
In recent months, up to 15 brands have announced bankruptcy or are about to do so

South Morning China Post reports that in recent months there have been up to 15 companies that have gone bankrupt or are in a very difficult situation. Companies that promised to sell 10 million units in a single year. One of them is Aiways.

China vive una continua guerra de precios de coches eléctricos. Aiways (en bancarrota) solo contempla una salida: Europa

Hace dos años, Aiways llegaba al mercado español con el Aiways U5. Un coche eléctrico que no apuntaba a la gama baja del mercado con sus 40.000 euros de...

www.xataka.com

 

[rockdog]

People drove EVs crossed the whole Europe-Asia continent for China Team in Paris 2024.

 

[rockdog]

People drove EVs crossed the whole Europe-Asia continent for China Team in Paris 2024.

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[helin]

Chinese-made power bank gains spotlight after Trump-Musk interview

A screenshot of Anker Innovation's magnetic power bank on Chinese e-commerce platform jd.com

In a live conversation featuring former US President Donald Trump and Tesla CEO Elon Musk, a Chinese brand, Anker, unexpectedly gained widespread attention online, after some netizens discovered that the power bank used by Trump was likely made by the company.

A photo shared on social media shows Trump in his office, conversing with Musk via smartphone, with a magnetic power bank likely from the Chinese brand Anker Innovations prominently in use, as reported by Phoenix New Media.

The power bank was then widely promoted on Chinese social media platforms, with Anker Innovation's official Douyin account labeling the product as the model used by Trump. The power bank is priced at 399 yuan ($55.7). As of press time, it has sold 787 units. The same model lists for $89.99 on Amazon in the US, where it has sold over 3,000 units over the past month.

Finally our turn on the wheel of fortune! How could you expect the winner of Trump-Musk talk to be the China Anker power bank, according to a post on the company's official Weibo account.

Anker Innovation's shares edged up 0.65 percent to 54.27 yuan on China’s A-share market on Tuesday.

The company didn't respond to a query by the Global Times on the matter as of press time on Tuesday.

Anker Innovations, established in 2011, ranks among China's largest consumer electronics brands with key products including power banks, chargers, cables, and Bluetooth devices. The company claims over 80 million users across more than 100 countries and regions on its official website.

China is a major exporter of consumer electronics, with companies like Anker Innovations, Ugreen, and Baseus leading the market in mobile accessories and power banks. According to data from the General Administration of Customs, China exported 1.83 billion lithium-ion batteries in the first half of the year, representing a 5.2 percent increase from the previous year.

Anker's 2023 annual financial report reveals a revenue of 17.5 billion yuan, a 22.85 percent increase from the previous year. Charging and energy storage products accounted for the largest share of revenue, totaling 8.604 billion yuan, which is 49.14 percent of the total revenue. The company's highest earnings come from the North American market, amounting to 8.37 billion yuan, or 47.81 percent of its total revenue.

 

[rockdog]

Chinese-made power bank gains spotlight after Trump-Musk interview

A screenshot of Anker Innovation's magnetic power bank on Chinese e-commerce platform jd.com

In a live conversation featuring former US President Donald Trump and Tesla CEO Elon Musk, a Chinese brand, Anker, unexpectedly gained widespread attention online, after some netizens discovered that the power bank used by Trump was likely made by the company.

A photo shared on social media shows Trump in his office, conversing with Musk via smartphone, with a magnetic power bank likely from the Chinese brand Anker Innovations prominently in use, as reported by Phoenix New Media.

The power bank was then widely promoted on Chinese social media platforms, with Anker Innovation's official Douyin account labeling the product as the model used by Trump. The power bank is priced at 399 yuan ($55.7). As of press time, it has sold 787 units. The same model lists for $89.99 on Amazon in the US, where it has sold over 3,000 units over the past month.

Finally our turn on the wheel of fortune! How could you expect the winner of Trump-Musk talk to be the China Anker power bank, according to a post on the company's official Weibo account.

Anker Innovation's shares edged up 0.65 percent to 54.27 yuan on China’s A-share market on Tuesday.

The company didn't respond to a query by the Global Times on the matter as of press time on Tuesday.

Anker Innovations, established in 2011, ranks among China's largest consumer electronics brands with key products including power banks, chargers, cables, and Bluetooth devices. The company claims over 80 million users across more than 100 countries and regions on its official website.

China is a major exporter of consumer electronics, with companies like Anker Innovations, Ugreen, and Baseus leading the market in mobile accessories and power banks. According to data from the General Administration of Customs, China exported 1.83 billion lithium-ion batteries in the first half of the year, representing a 5.2 percent increase from the previous year.

Anker's 2023 annual financial report reveals a revenue of 17.5 billion yuan, a 22.85 percent increase from the previous year. Charging and energy storage products accounted for the largest share of revenue, totaling 8.604 billion yuan, which is 49.14 percent of the total revenue. The company's highest earnings come from the North American market, amounting to 8.37 billion yuan, or 47.81 percent of its total revenue.

Both powerbank and voice recorder

 

[E-195]

Temu, a fast-growing Chinese e-commerce platform, is facing increasing scrutiny over its data privacy practices. Recent reports indicate that Temu collects extensive user data in Mexico and the United States, prompting legal actions and regulatory scrutiny.

The Federal Telecommunications Institute (IFT) in Mexico has identified Temu as the platform that collects the most user data among e-commerce applications in the country. According to IFT's Fifth Report on User Data Privacy in Digital Services, which analyzed privacy policies and terms from various tech companies as of May 24, 2024, Temu surpasses competitors like Amazon, Mercado Libre, and Shein in the volume of data collected. This data includes profile photos, videos, audio recordings, contact information, payment details, and location data.

Temu reportedly uses this data to enhance user experience by delivering targeted advertisements and personalized offers, a common practice among digital platforms. However, the extensive nature of the data collected by Temu has raised significant privacy concerns, given the sensitivity of the information involved.

Adding to these concerns, Tim Griffin, the Attorney General of Arkansas, has filed a consumer protection lawsuit against Temu. Griffin has described Temu not as a traditional online marketplace but as a “data-theft business that sells goods online as a means to an end.” The lawsuit, filed in Arkansas’ Cleburne County Circuit Court, alleges that Temu’s app is designed to evade security reviews and alter its code post-download, thereby exploiting user data. The lawsuit claims violations of the state's Deceptive Trade Practices Act and Personal Information Protection Act.

This legal action follows two separate class action lawsuits initiated in late 2023, which accuse Temu of failing to secure customers' personal and financial data and of collecting biometric information beyond what is necessary for an online shopping app.

In response, a Temu spokesperson denied the allegations, calling them “unfounded” and based on misinformation. The spokesperson emphasized Temu's commitment to transparency and long-term development, suggesting that the scrutiny may arise from misunderstandings about the company’s innovative supply chain model.

Despite these controversies, Temu continues to gain traction in the US market. Launched in 2022, the platform quickly became popular due to competitive pricing, a user-friendly interface, and frequent discounts. The United States and Mexico are the largest markets for the app, contributing nearly 40% of total app downloads since its release, according to Statista.

However, trust issues persist, with only 6% of US consumers expressing trust in Temu compared to 86% who trust Amazon, according to a report by Omnisend. Nonetheless, 17.5% of global respondents believe Temu could eventually surpass Amazon as the leading e-commerce platform.
Photo by: MBN

Temu Faces Data Privacy Concerns in Mexico, US

Chinese e-commerce platform Temu faces privacy concerns regarding user data collection in Mexico and in the United States.

mexicobusiness.news

The United States and Mexico have announced joint measures on steel and aluminum imports, aiming to stop China from evading existing duties via transshipment and strengthening the North American supply chain. While the United States celebrated the strengthening of tariffs, experts in Mexico warned that the new measures will also affect Mexican producers.

The new measures, which took effect on July 10, impose a 25% tariff on steel imported from Mexico that was not melted and poured in Mexico, the United States, or Canada. Additionally, aluminum smelt or cast in China, Russia, Iran, or Belarus and imported via Mexico will be subject to a 10% tariff. With these new measures, importers will now need to provide detailed information about the origin of steel products.

The US government emphasized that these actions showcase the strong cooperation between the United States and Mexico. "This action corrects a loophole left unresolved by the previous administration and its unilateral trade policies, and demonstrates that when we act together, we strengthen our position to defend American workers and businesses from the global non-market capacity that emanates from the PRC's state-led economic and trade approach," said Katherine Tai, US Trade Representative.

The United Steelworkers union (USW), representing steel and aluminum workers in the United States, celebrated the strengthening of trade rules. However, the measure raises concerns within the Mexican industry. Adrián González, President, Global Alliance Solutions, warned about its impact on the supply chain, noting that Mexican producers using foreign steel or aluminum will also face tariffs when exporting to the United States.

In the first five months of 2024, Mexican exports to the United States of iron and steel foundry and its products, as well as aluminum and its products, amounted to US$5.564 billion, representing 2.67% of Mexico’s total exports to the US. Gabriela Siller, Director of Analysis, Banco Base, indicated that about 0.3% of Mexico's total exports to the US could be affected by the new tarif

US, Mexico Impose New Tariffs to Counter Chinese Oversupply

The tariffs target Chinese steel and aluminum exported through Mexico to the United States.

mexicobusiness.news

 

[rockdog]

Temu, a f-growing Chinese e-cchaice platform, is facing increasing scrutiny over its data privacy practices. Recent reports indicate that Temu collects extensive user data in Mexico and the United States, prompting legal actions and regulatory scrutiny.

The Federal Telecommunications Institute (IFT) in Mexico has identified Temu as the platform that collects the most user data among e-commerce applications in the country. According to IFT's Fifth Report on User Data Privacy in Digital Services, which analyzed privacy policies and terms from various tech companies as of May 24, 2024, Temu surpasses competitors like Amazon, Mercado Libre, and Shein in the volume of data collected. This data includes profile photos, videos, audio recordings, contact information, payment details, and location data.

Temu reportedly uses this data to enhance user experience by delivering targeted advertisements and personalized offers, a common practice among digital platforms. However, the extensive nature of the data collected by Temu has raised significant privacy concerns, given the sensitivity of the information involved.

Adding to these concerns, Tim Griffin, the Attorney General of Arkansas, has filed a consumer protection lawsuit against Temu. Griffin has described Temu not as a traditional online marketplace but as a “data-theft business that sells goods online as a means to an end.” The lawsuit, filed in Arkansas’ Cleburne County Circuit Court, alleges that Temu’s app is designed to evade security reviews and alter its code post-download, thereby exploiting user data. The lawsuit claims violations of the state's Deceptive Trade Practices Act and Personal Information Protection Act.

This legal action follows two separate class action lawsuits initiated in late 2023, which accuse Temu of failing to secure customers' personal and financial data and of collecting biometric information beyond what is necessary for an online shopping app.

In response, a Temu spokesperson denied the allegations, calling them “unfounded” and based on misinformation. The spokesperson emphasized Temu's commitment to transparency and long-term development, suggesting that the scrutiny may arise from misunderstandings about the company’s innovative supply chain model.

Despite these controversies, Temu continues to gain traction in the US market. Launched in 2022, the platform quickly became popular due to competitive pricing, a user-friendly interface, and frequent discounts. The United States and Mexico are the largest markets for the app, contributing nearly 40% of total app downloads since its release, according to Statista.

However, trust issues persist, with only 6% of US consumers expressing trust in Temu compared to 86% who trust Amazon, according to a report by Omnisend. Nonetheless, 17.5% of global respondents believe Temu could eventually surpass Amazon as the leading e-commerce platform.
Photo by: MBN

Temu Faces Data Privacy Concerns in Mexico, US

Chinese e-commerce platform Temu faces privacy concerns regarding user data collection in Mexico and in the United States.

mexicobusiness.news

The United States and Mexico have announced joint measures on steel and aluminum imports, aiming to stop China from evading existing duties via transshipment and strengthening the North American supply chain. While the United States celebrated the strengthening of tariffs, experts in Mexico warned that the new measures will also affect Mexican producers.

The new measures, which took effect on July 10, impose a 25% tariff on steel imported from Mexico that was not melted and poured in Mexico, the United States, or Canada. Additionally, aluminum smelt or cast in China, Russia, Iran, or Belarus and imported via Mexico will be subject to a 10% tariff. With these new measures, importers will now need to provide detailed information about the origin of steel products.

The US government emphasized that these actions showcase the strong cooperation between the United States and Mexico. "This action corrects a loophole left unresolved by the previous administration and its unilateral trade policies, and demonstrates that when we act together, we strengthen our position to defend American workers and businesses from the global non-market capacity that emanates from the PRC's state-led economic and trade approach," said Katherine Tai, US Trade Representative.

The United Steelworkers union (USW), representing steel and aluminum workers in the United States, celebrated the strengthening of trade rules. However, the measure raises concerns within the Mexican industry. Adrián González, President, Global Alliance Solutions, warned about its impact on the supply chain, noting that Mexican producers using foreign steel or aluminum will also face tariffs when exporting to the United States.

In the first five months of 2024, Mexican exports to the United States of iron and steel foundry and its products, as well as aluminum and its products, amounted to US$5.564 billion, representing 2.67% of Mexico’s total exports to the US. Gabriela Siller, Director of Analysis, Banco Base, indicated that about 0.3% of Mexico's total exports to the US could be affected by the new tarif

US, Mexico Impose New Tariffs to Counter Chinese Oversupply

The tariffs target Chinese steel and aluminum exported through Mexico to the United States.

mexicobusiness.news

tik tok, Shein and Temu are most downloaded apps over the world, and will bing the Chinese supply chainb to most markets.

Will Temu take over Amazon in Mid/Latin America?​

View: https://medium.com/@jim861206/will-temu-taking-over-amazon-in-mid-south-amarica-f6f42e61cf0f

Temu unfazed by Brazil’s cross-border sale taxes​

Temu unfazed by Brazil's cross-border sale taxes - The Brazilian Report

Pinduoduo's marketplace Temu has made its debut in Latin America's largest economy, and has plenty of room for growth.

www.google.com

 

[E-195]

tik tok, Shein and Temu are most downloaded apps over the world, and will bing the Chinese supply chainb to most markets.

Will Temu take over Amazon in Mid/Latin America?​

View: https://medium.com/@jim861206/will-temu-taking-over-amazon-in-mid-south-amarica-f6f42e61cf0f

Temu unfazed by Brazil’s cross-border sale taxes​

Temu unfazed by Brazil's cross-border sale taxes - The Brazilian Report

Pinduoduo's marketplace Temu has made its debut in Latin America's largest economy, and has plenty of room for growth.

www.google.com

Temu encounters bureaucracy to operate in Brazil
The situation with cross-border e-commerce in Brazil has gained many chapters since the arrival of Asian players. While Alibaba and Shopee continue to strengthen their position in the sector in the country, competing with Mercado Livre, Magalu and Amazon, Shein has also emerged as a leading player in the fashion segment. Now, with almost a month of official operation in the region, Temu is beginning to feel the impacts of national bureaucracy up close.

With its Brazilian website up and running since June 7, making it the 70th market to receive its services, Temu treats Brazil as a gray area in terms of legislation. On the other hand, there is an understanding that each obstacle overcome here is valid, mainly due to the still unexplored potential.

According to a report by the KrASIA media outlet, which covers the business market in Asian countries, Temu was dissatisfied with the Brazilian government's decisions. One of them, regarding the 20% tax on international purchases under US$50, for example, occurred one day after the Chinese company officially entered Brazil.

The additional 17% tax on the Tax on Circulation of Goods and Services (ICMS) for products coming from abroad and the turnaround with Remessa Conforme also shook the company's momentum in the country.

Participating in the expansion
The analysis, even with all the cons mentioned, is still that Brazilian and Latin American e-commerce, as a whole, are important for the expansion strategy of Temu and other Asian giants in the sector. The company mentioned, specifically, sees the taxes as “heavy”, but they do not invalidate the positive offer in Brazil.

Data from Payments and Commerce Market Intelligence (PCMI), for example, reinforces how Latin America is a favorable environment for the development of e-commerce. For this reason, the expectation is that growth will be around 21% by 2026, with Brazil standing out.

In practical terms, Brazilian bureaucracy is an even “weaker” counterpoint compared to the bargaining chip with Temu. Already operating in all neighboring countries on the continent, having a solid base in Brazil could serve to crown its globalization in the future.

According to KrASIA, the company must experience the changes and contradictions in Brazilian taxation, even as a test of adaptation and understanding.

Temu esbarra em burocracia para operar no Brasil

De acordo com reportagem da KrASIA, alíquotas diversas de imposto sob compra de produtos importados e de sites estrangeiros desagradam a Temu

www.ecommercebrasil.com.br

 

[rockdog]

Temu encounters bureaucracy to operate in Brazil
The situation with cross-border e-commerce in Brazil has gained many chapters since the arrival of Asian players. While Alibaba and Shopee continue to strengthen their position in the sector in the country, competing with Mercado Livre, Magalu and Amazon, Shein has also emerged as a leading player in the fashion segment. Now, with almost a month of official operation in the region, Temu is beginning to feel the impacts of national bureaucracy up close.

With its Brazilian website up and running since June 7, making it the 70th market to receive its services, Temu treats Brazil as a gray area in terms of legislation. On the other hand, there is an understanding that each obstacle overcome here is valid, mainly due to the still unexplored potential.

According to a report by the KrASIA media outlet, which covers the business market in Asian countries, Temu was dissatisfied with the Brazilian government's decisions. One of them, regarding the 20% tax on international purchases under US$50, for example, occurred one day after the Chinese company officially entered Brazil.

The additional 17% tax on the Tax on Circulation of Goods and Services (ICMS) for products coming from abroad and the turnaround with Remessa Conforme also shook the company's momentum in the country.

Participating in the expansion
The analysis, even with all the cons mentioned, is still that Brazilian and Latin American e-commerce, as a whole, are important for the expansion strategy of Temu and other Asian giants in the sector. The company mentioned, specifically, sees the taxes as “heavy”, but they do not invalidate the positive offer in Brazil.

Data from Payments and Commerce Market Intelligence (PCMI), for example, reinforces how Latin America is a favorable environment for the development of e-commerce. For this reason, the expectation is that growth will be around 21% by 2026, with Brazil standing out.

In practical terms, Brazilian bureaucracy is an even “weaker” counterpoint compared to the bargaining chip with Temu. Already operating in all neighboring countries on the continent, having a solid base in Brazil could serve to crown its globalization in the future.

According to KrASIA, the company must experience the changes and contradictions in Brazilian taxation, even as a test of adaptation and understanding.

Temu esbarra em burocracia para operar no Brasil

De acordo com reportagem da KrASIA, alíquotas diversas de imposto sob compra de produtos importados e de sites estrangeiros desagradam a Temu

www.ecommercebrasil.com.br

Chinese companies are winning the global south​

Their expansion abroad holds important lessons for Western incumbents​

Chinese companies are winning the global south

Their expansion abroad holds important lessons for Western incumbents

www.economist.com

 

[E-195]

Chinese companies are winning the global south​

Their expansion abroad holds important lessons for Western incumbents​

Chinese companies are winning the global south

Their expansion abroad holds important lessons for Western incumbents

www.economist.com

View attachment 6597

AFTER THE tensions that have arisen in recent months between the United States and China, the North American has sought to relocate supply chains, finding in Colombia a great strategic ally for the purchase of various products.

According to data from the US Census Bureau, 17 Colombian products, which are part of the 108 tariff items identified by the Colombian American Chamber of Commerce, AmCham Colombia, within the framework of the US-China tension, increased their presence in the US market, after a lower supply from China.

In the first five months of 2024, according to figures from the office, exports of these 17 Colombian products reached US $885 million, and had a growth of 12%, from the US $790 million registered for the same period in 2023.


Products

On the other hand, the Chinese products that fell the most in the US, between January and May 2024 and that had a positive response in Colombia, were: butter, fat and cocoa oil, with shipments of US $2.8 million (+17%); tiles and elements for fireplaces, exporting US $1.3 million (+33%); hydrogen chloride, with sales of US $648,507 (+30%); and charcoal, with US $834,683 (+32%), respectively.

Likewise, other products stand out, such as vinyl chloride polymers (US $11.5 million); dates, figs, pineapples, avocados and mangoes (US $28.4 million); cereal flour (US $5.6 million); braided hats and headdresses (US $426,115); registration books, checkbooks and diaries (US $4.9 million); and fruits and edibles made from prepared plants (US$40.8 million), each.

“Non-mining and energy products continue to be the main driver of Colombian exports in the United States, particularly agriculture and manufacturing, which continue to take on more and more opportunities for the country. Legal security is essential to the goal of energizing productive sectors, promoting investment and strengthening the country's competitiveness at a regional level,” added Lacouture.

Business connections

Additionally, he pointed out that all Colombian companies can take advantage of this potential, which is why he mentioned that on September 10 and 11 AmCham Colombia will have a business roundtable with 200 buyers from the United States who will come to Bogotá to have business meetings with 400 exporters from the country.

Of the buyers from the United States that are already registered, there are companies that have distribution coverage in 25 states of the United States. The call is aimed at Colombian exporters in the agro-food and manufacturing sectors, including fashion and cosmetics. While participating US companies will include distributors, brokers, direct buyers, specialized companies, jewelry boutiques, supermarkets and, in general, companies looking for Colombian suppliers.



After the presentation of the US Government initiative, the Alliance for Economic Prosperity in the Americas (APEP), which seeks to strengthen supply chains and promote cooperation between allied Latin American countries, ‘friendshoring’ continues to set the tone for the reconfiguration of trade in the region.

APEP has added multilateral cooperation efforts such as the formation of programs for the development of a qualified workforce, cybersecurity and the application of new technologies. US Secretary of State Antony Blinken said that $3 billion will be allocated to sustainable projects that are in their consolidation phase, in addition to $30 million for cybersecurity in the region.

On this, Lacouture said that “although Colombia's geographic positioning makes it attractive, the country's potential for economic diversification stands out as one of the greatest attractions among the Latin American countries that are part of APEC.”

Colombia exporta más a EE.UU. y reemplaza a productos chinos

El país se ha convertido en un aliado clave para los norteamericanos ante cambio en cadenas de suministro

www.elnuevosiglo.com.co

The demands do not stop and the Mexican government does not want to put its marriage at risk. It is right. In that sense, we can understand the recent decision of the Ministry of Economy to impose tariffs on 544 products, including footwear, wood, plastic, electrical material, musical instruments, furniture... and steel.The Ministry of Economy's statement is careful in its language. The word China is not mentioned in it. Secretary Raquel Buenrostro was also very cautious in her phrasing: tariffs are imposed to avoid unfair competition from countries with which we do not have trade agreements.

Para China con desamor: 544 aranceles

www.eleconomista.com.mx

 

[srev2004]

View: https://youtu.be/bZVOWxCjefI?si=cQ4bp02hzGLK4Npw

 

[Cheepek]

View: https://youtu.be/bZVOWxCjefI?si=cQ4bp02hzGLK4Npw

Read it yesterday...

https://www.reuters.com/world/china/china-probes-rampant-graft-funeral-homes-services-2024-08-14