Tensions With Taiwan Continue | Indiana Governor Eric Holcomb visited Taiwan for a four-day trip this week to discuss semiconductors. In response, China flew more warplanes to areas near the island. On an anniversary of the confrontation between Beijing and Taipei forces 64 years ago, Taiwan’s Tsai Ing-wen warned of a “heavy price” for any "invaders," pointing to Beijing. The tensions brought up by Nancy Pelosi's visit have made the "peaceful unification" that Bejing is trying to achieve more challenging.
Extreme Heatwave Rages In Southern China | China continues to face a record-breaking heatwave and drought, resulting in major power cuts throughout the Sichuan province. Shanghai has turned off its famous lights along the waterfront for several days, and manufacturers have faced power cuts. Analysts say power cuts are not expected to last past the summer season.
China’s Central Bank Cuts Mortgage Rates | In an effort to tackle China’s property crisis, China’s central bank has lowered its five-year loan prime rate by 1.5%. According to data, home sales in China have continued to fall for 11 consecutive months, a symptom and an accelerator of the country's mounting economic pressure. However, experts say that unlike the 2008 housing market crash in the U.S., the global impact of this crisis would be modest.
