VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Geopolitics and a slowing economy are fuelling pessimism among U.S. businesses operating in China, with the proportion of firms optimistic about their five-year outlook in the country falling to a record low, a survey released on Tuesday said.

Even after the ending of COVID curbs, which weighed heavily on both revenues and sentiment in 2022, the percentage of surveyed U.S. firms optimistic about the five-year China business outlook fell to 52%, according to the annual survey published by American Chamber of Commerce (AmCham) in Shanghai.

This was the lowest level of optimism reported since the AmCham Shanghai Annual China Business Report was first introduced in 1999.

"Frankly, if there was one thing that surprised me about the survey this year it was that number," said AmCham Shanghai Chairman, Sean Stein. "By the time we did this year's survey a lot of the illusions had fallen away that we would see a sustained rebound in economic growth (post-COVID)."

Geopolitics remained a major concern for many firms, with U.S.-China tensions cited as a top business challenge by 60% of the survey's 325 respondents, equal to the number who pointed to China's economic slowdown as a top challenge.

Concern over the transparency of China's regulatory environment also grew, with one third reporting that policies and regulations towards foreign companies had worsened in the past year, though many respondents pointed to U.S. government policy rather than China's when asked about pressure to decouple.

Companies have been at the centre of deteriorating relations between the two countries for several years. China has criticised U.S. efforts to block China's access to advanced technology and U.S. firms have expressed concern about fines, raids and other actions that make doing business in China risky.

Last month, U.S. Commerce Secretary Gina Raimondo said during a visit to China that U.S. companies have complained to her that China has become "uninvestible".

Geopolitical tensions were also cited as the top risk to China's future economic growth in the AmCham report, with improved U.S.-China relations the number one factor respondents said would improve their industry's prospects in China.

AmCham's Stein said that the survey had been conducted prior to Raimondo's visit and, since then, he believed companies had begun to reconsider whether they had been "too pessimistic that there wasn't any way to get out of a constant downward slide (in U.S.-China relations)".

A larger percentage of firms, 40%, up from 34% last year, are currently redirecting or looking to redirect investment that had been earmarked for China, mainly to Southeast Asia.

This echoed a report published by Rhodium Group last week, which said that India, Mexico, Vietnam and Malaysia were receiving the vast majority of investment U.S. and European firms were shifting away from China. (Reuters)

China and the European Union held talks on topics including artificial intelligence and cross-border data flows on Monday in Beijing, amid disputes over an EU probe into China's electric vehicle (EV) subsidies.

The talks were part of an EU-China High-level Digital Dialogue co-chaired by China's Vice Premier Zhang Guoqing and the European Commission Vice-President for Values and Transparency Vera Jourova, the first of such dialogue in three years, the European Commission said in a statement.

The meeting comes as tensions between China and the EU are heightened after European Commission President Ursula von der Leyen announced an investigation into whether to impose punitive tariffs on Chinese EVs to protect EU producers.

Beijing criticised the probe as a "protectionist act" and warned it would damage economic relations.

The talks on Monday covered key issues including platforms and data regulation, AI, and cross-border flow of industrial data, China and the EU said.

The European Commission conveyed concerns about "difficulties faced by EU companies in China to make use of their industrial data, as a result of the application of recent legislation."

The statement did not elaborate on which legislation it was referring to. China expanded its counter-espionage law in July, with wide-ranging updates including banning the transfer of any information related to national security and broadening the definition of spying.

Zhang told the meeting that China welcomes companies from all over the world, including Europe, to share the development opportunities of its digital economy and achieve win-win results, the official Xinhua news agency reported.

Both sides agreed to promote an open, fair and non-discriminatory environment for the development of the digital economy, Xinhua said.

The two parties also discussed other topics including research and innovation, information and communication technology, and safety of products sold online. (Reuters)

China and the European Union held talks on topics including artificial intelligence and cross-border data flows on Monday in Beijing, amid disputes over an EU probe into China's electric vehicle (EV) subsidies.

The talks were part of an EU-China High-level Digital Dialogue co-chaired by China's Vice Premier Zhang Guoqing and the European Commission Vice-President for Values and Transparency Vera Jourova, the first of such dialogue in three years, the European Commission said in a statement.

The meeting comes as tensions between China and the EU are heightened after European Commission President Ursula von der Leyen announced an investigation into whether to impose punitive tariffs on Chinese EVs to protect EU producers.

Beijing criticised the probe as a "protectionist act" and warned it would damage economic relations.

The talks on Monday covered key issues including platforms and data regulation, AI, and cross-border flow of industrial data, China and the EU said.

The European Commission conveyed concerns about "difficulties faced by EU companies in China to make use of their industrial data, as a result of the application of recent legislation."

The statement did not elaborate on which legislation it was referring to. China expanded its counter-espionage law in July, with wide-ranging updates including banning the transfer of any information related to national security and broadening the definition of spying.

Zhang told the meeting that China welcomes companies from all over the world, including Europe, to share the development opportunities of its digital economy and achieve win-win results, the official Xinhua news agency reported.

Both sides agreed to promote an open, fair and non-discriminatory environment for the development of the digital economy, Xinhua said.

The two parties also discussed other topics including research and innovation, information and communication technology, and safety of products sold online. (Reuters)

VOINews, Jakarta - Indonesian President Joko Widodo (Jokowi) has said that he will check whether mining companies have repaired the land used for their mining activities.

He delivered the remarks at the Environment, Climate, Forestry, New Renewable Energy (LIKE) Festival at the Indonesia Arena, Gelora Bung Karno, Jakarta, on Monday.

"To any representative from the mining company attending this event, I remind you to repair the used land. Do not just leave the land. I will check it one by one," he emphasized.

He said there is a new regulation from the Minister of Environment and Forestry (LHK) that requires every mining company to have a nursery center.

"Every mining company must have a nursery center. If the mining activity is finished in one land, the company must immediately plant it to avoid further environmental damage. It is mandatory. The LHK Ministry had just issued the regulation," he added.

The world is currently shifting toward a green economy. Furthermore, all countries are focusing on the green economy because they are afraid of changes in the climate, he said.

"Once again, we are in the process of transition toward a green economy. In all countries, waste is recycled, the production of green industrial products is being pursued, and projects on electric vehicles are being started," he pointed out.

The head of state said many countries are already using biodiesel and bioethanol. Meanwhile, Indonesia is also starting a battery industry for electric vehicles.

"We do not want to lose the opportunity to build the electric vehicle battery industry. Because we have the raw materials here, such as nickel, cobalt, and manganese," he added.

He then asked mining companies, including companies mining raw materials for electric batteries, to comply with the obligation to repair used mining land, in accordance with the regulation of the LHK Ministry.  (Antaranews)