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Media Report
June 18 , 2018
  • The New York Times reports: "Google's best-known products have been blocked by the authorities in mainland China for years. If the American internet giant wants that to change someday, then half a billion dollars' worth of good will couldn't hurt. Google will invest $550 million in the Chinese online retailer JD.com, the two companies said on Monday. In return, JD.com will join the Google Shopping advertising platform, and will work with the Silicon Valley company on other e-commerce projects in Europe, Southeast Asia and the United States. The companies did not provide details of the projects. According to a JD.com spokesman, the deal will give Google less than 1 percent of the Chinese retailer's shares, which trade on the Nasdaq. Google pulled its search engine out of China in 2010, deciding that it would no longer censor its own search results as required by Beijing. But lately, the company has been looking for other ways to serve the planet's largest population of internet users."
  • CNBC reports: "China responded vigorously in state media on Saturdayafter the administration of U.S. President Donald Trump said it would impose tariffs on $50 billion of Chinese imports, but some commentary left room for further negotiations. Late on Friday, China said it would impose additional 25 percent tariffs on 659 U.S. goods worth $50 billion, in response to the U.S. imposition of tariffs. "The wise man builds bridges, the fool builds walls," the official Xinhua news agency said in an editorial, echoing official comments that China would defend its interests in a trade war. "Following the path of expanding and opening up is China's best response to the trade dispute between China and the United States, and is also the responsibility that major countries should have to the world," it added."
  • Bloomberg reports: "In the gritty, steamy streets of Papua New Guinea's capital Port Moresby, signs of China's push into the Pacific island nation are inescapable... "Little by little they are taking slices of our businesses," said Martyn Namorong, who campaigns to protect local jobs and communities as China ramps up infrastructure spending in the resource-rich nation, often bringing its own workforce. "My people feel we can't compete." The nation of 8 million people is the latest frontier in Beijing's bid for global influence that's included building artificial reefs in the South China Sea, a military base in Africa and an ambitious trade-and-infrastructure plan spanning three continents. China's thrust into the Pacific islands region, a collection of more than a dozen tiny nations... has the U.S. and its close ally Australia worried."
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