More Out, Less In: Foreign Money Leaves China | China In Focus

D risking from China foreign companies are pulling out of the Chinese market one of them just cashed in billions worth of stakes Argentina's president-elect vowing not to deal with Communists Beijing promptly response deadly fenel flowing into the US how is President Biden fighting the lethal drug trade we made important progress with both China and Mexico and are human rights violations from China getting shipped to American schools a nonprofit reports that Chinese seafood has ties to forced labor and that it's ending up in US grocery stores restaurants and federal food programs what do you think let us know below and subscribe if you haven't [Music] already welcome to China INF Focus I'm Tiffany Meyer foreign companies operating in China are doing more to distance themselves from the country in the past such companies often reinvested China profits in the local market but many have halted the practice instead choosing to move the money elsewhere the trend is showing up in China's official data in the third quarter of this year China saw a deficit of 11.8 billion in foreign investment it's the first deficit since records began concerns Drive driving business away include China's slowing economy and geopolitical tensions between China and other nations one American company is cashing in at $ 1.8 billion investment by selling off stakes in China investment firm carile has reduced its China business before in recent years among carlile's Global business about 5% targeted Chinese companies this year just half of its China investment in 2021 this time car sold those Stakes to another American company McDonald's the fast food chain is instead going against the trend of reducing China ties the trend has also reached one of China's neighbors Japan China is Japan's biggest trading partner but Japanese firms are losing confidence in Beijing with sentiment falling to a historic low a new survey shows less than 30% of them are planning to expand in the Chinese market falling from 40% to years ago last month China arrested a Japanese executive on suspicion of Espionage the arrest has had a chilling effect on other Japanese businesses and American and European countries are trying to explore new technology to reduce dependence on China's Rare Earth manufacturing Rare Earth minerals are key to making the engines of electric cars but with help from a new technology soon engines might no longer need the materials a British company called advanced electric machines announced this week that it had raised about $29 million for developing and producing the new engines next we move to America's Southern backyard where Argentinian president-elect Javier M secured a landslide win over the weekend M promises a drastic change for the country and could include the country's relations with communist China he's criticize both China and Brazil saying he won't deal with Communists and favors stronger us highes in recent months mle even likened the Chinese Comm regime to an assassin and said the people of China were not free the CCP has gained so much leverage in Argentina like that that they were able to get away when former president Macio Mak tried to expel the people's Liberation Army from managing a space station in the province of nen which had restricted access even to the president himself and local authorities so the Leverage is very big Beijing says it's ready to work with Argentina despite M's critic ISM China is among Argentina's most important trade Partners M's tough talk on China stands in sharp contrast to the outgoing president Alberto Fernandez he visited Beijing last month and hail China as a true friend of Argentina it remains to be seen what mle will do after taking Office later back over to China the country's smartphone exports are taking a plunge according to official data total exports of the devices fell by 6.4% in the first 10 months this year statistics reveal that China's mobile phone export volume hit its peak in 2015 it dropped by over 500 million units annually between 2015 and 2022 Chinese media reports that the closure of foreign mobile phone manufacturers factories in China may be a primary factor looking at one case South Korea's Samsung gradually withdrew from the Chinese market starting in 2014 shifting production to countries like Vietnam similarly Apple has been gradually relocating its production lines away from China in recent years a nationwide crisis is gripping the US deadly and pervasive the potent drug fentanyl is pouring across America's borders from China is the deal with Beijing the key to stopping the tide here's a closer look at what Biden said on Tuesday at the White House last week in San Francisco we made important progress with both China and Mexico to strengthen our efforts to address this Scourge during my meeting with President XI we took a critical step of resuming counternarcotics cooperation between our two countries there one the important things we agreed upon as part of the fight Biden adds Congress must provide the needed funding disagreements over issues like Ukraine Aid have stalled a package worth $1.2 billion to counter fentanyl trafficking according to reports Mexican cartels get most of the precursor chemicals they use to make fentanyl from China then traffic the lethal drugs into the us when the Chinese regime leader brought his delegation to San Francisco last week they came with surprising news for us officials Beijing had already taken action against 25 Chinese companies known to be involved in the illicit fentanyl trade in return the US is lifting sanctions on Chinese institutes accused of Human Rights viol a ations against the weaker ethnic group but the deal Drew criticism from some Republicans they say Biden didn't secure enough assurances from China and if Beijing fails to honor its commitments it's unclear if Washington May reimpose the penalties Beijing promised Washington it would deal with the issue back in 2019 elicit fentanyl from China remains readily available in the US today fento is the leading cause of death for Americans ages 18 to 49 it can be found laced in pills marijuana and even vape pens fishing has long been considered one of the world's deadliest professions now an investigative report is tying it to Human Rights abuses in China it says Chinese fishing and processing operations are using forced labor from the weager ethnic group and that the US is buying that Seafood in violation of 2021s weager forced labor prevention act over four years a team from the ocean Outlaw project nonprofit trailed and even boarded some of China's 6,500 fishing ships when they refused to talk reporters said they had ventured out in small boats throwing plastic bottles filled with interview questions aboard workers then answered them in notes and toss the bottles back from the fishing ships the group tracked the seafood to Chinese ports and processing plants then all the way to the US and Europe there the fish allegedly landed in grocery stores like Walmart Costco Kroger and Cisco plus restaurants and food companies that's on top of US Federal purchases for school lunches and other programs like soup kitchens the probe also found some Chinese plants employ North Korean workers us sanctions ban All American purchases of products made with North Korean labor following the reports release several major us and European companies have cut ties with Chinese processors that are accused of forced Labor All Roads lead back to China that's what a former NYPD detective said about his experience in tackling counterfeit Goods last week the Department of Homeland Security raided a storage facility in Manhattan and seized knocked off Goods valued at $1 billion dollar if they were authentic two men were charged with trafficking in counterfeit Goods counterfeits range from fake handbags to shoes and clothing all crafted to mimic luxury Brands like Gucci Louis Vuitton and Aires The Raid happen at Gotham Mini Storage in Manhattan officers say storage spaces like this are well suited for illegal retailers and are all over the country turning our attention now to cross straight relations a group of us House Republicans are seeking the status of two F-16 aircraft programs for Taiwan the values of these military equipments total up to 12.7 billion and they've been sitting in Washington's backlog since 2019 lawmakers fear that the deliveries of these fighter jets might be held back even further that says Washington devotes much of its military commitment to Ukraine and Israel as of now members of Congress are urging the White House to focus primarily on Taiwan and ramp up deliveries of promised military aid on top of fighter jets the Biden Administration is also pushing through an aid package that would send security assistance to the Indo Pacific region Congressman Mike Gallagher chairman of the house Select Committee be on the CCP told CBS that Congress would likely pass the request the balance of hard power across the straight and throughout the indopacific region is eroding and with it the risk of war is increasing which is why we need to act before it's too late meanwhile in Taiwan the islands defense Ministry on Sunday detected nine Chinese aircraft crossing the median line an unofficial barrier between China and Taiwan the region has seen a surge in chinae military activities the aircraft along with several Chinese warships were there to carry out joint combat Readiness patrols this maneuver came just days after President Biden's meeting with Chinese leader Xi Jinping in San Francisco for decades the ccpcs Taiwan as its own territory and has vowed to take it by force if necessary that's despite never having ruled it and now some quick headlines from the asia-pacific region starting with a rocket launch by North Korea p Yang has told Japan that it plans to launch a satellite between this Wednesday and December the 1st South Korean and Japanese officials say the rocket is believed to be carrying a military reconnaissance satellite now Japan is saying its defense systems stand ready to deal with it to get ready for an unexpected situation the self-defense forces AIS ships and pack three missile defense units in okanawa are already carrying out the necessary preparations have a satellite up in the sky would be a boost for North Korea's ballistic missile program as it could gather data on troops and vehicle movements such a launch by pingyang would violate United Nations resolutions in the face of that increasing threat Washington is responding a US aircraft carrier docked at a South Korean port on Tuesday China on the other hand is calling for talks to deescalate tensions the US and South Korea struck a deal in April to increase us military presence to deter threats from North Korea the news comes after the Biden administration's proposed weapon sales to Japan and South Korea Pang Yang called a potential sales of a tomahawk weapon system to Japan and military equipment to South Korea a dangerous act last Friday the state department revealed the Biden Administration has approved the proposed sale of A2 billion doll missile system to Japan moving down under Australia is speaking out that's following a dangerous encounter with a Chinese warship last week the first is that the safety and well-being of Australian defense Personnel uh is our utmost priority uh the second point I'd make uh is to again reiterate that we have raised our serious concerns uh with the Chinese authorities following what uh was uh we regard as unsafe and unprofessional interaction uh with uh the pl Navy destroyer an Australian Navy diver was injured when an Australian warship and a Chinese warship encountered each other in Japan's exclusive economic zone on November 14th that's all for today's China INF focus on YouTube we're now sharing a shorten version of our program here after being demonetized for more than two years last month YouTube removed our demonetization status but reimposed it within days if you'd like to support us subscribe to our partner platform Epic TV where you can watch our full episodes or consider donating find us at donorbox.org ch- in-focus here's what to look out for in our second half from ships to aircraft the Taiwan Strait has seen an unprecedented surge in military activity from Beijing an expert warns that the Chinese Air Force is becoming a quote near peer competitor to Washington if War does break out between the two over Taiwan who would hold the upper hand in an air fight Plus North Korea is preparing to launch a space satellite and a US aircraft carrier has arrived at South Korea's doorstep how does this play into Washington strategy for the peninsula we sit down with Brandon weert geopolitical analyst and author of The Shadow War for details thanks for watching China in Focus I'm Tiffany Meyer see you [Music] tomorrow