Latest East Asia News

China's rust belt looks abroad as growth slows, tariffs bite

Aug. 21, 2019 11:21 PM EDT

YINGKOU, China (AP) — From Thailand to Kenya, trains run on tracks from steel mills in China's northeast, a rust-belt region that is trying to capitalize on a multibillion-dollar national initiative to build ports, railways and other projects abroad. Announced in 2012, the Belt and Road Initiative is...

Trump flip-flops on tax cuts, citing 'strong economy'

Aug. 21, 2019 9:18 PM EDT

WASHINGTON (AP) — A day after considering cutting taxes to promote economic growth, President Donald Trump on Wednesday changed course and said he would abandon the idea because the nation already had "a strong economy." Trump's flip-flop came after recent market volatility and economic uncertainty, and...

Ties to China shape cautious reaction to Hong Kong protests

Aug. 21, 2019 9:05 PM EDT

For Canada and the European Union, they are a "situation." For President Donald Trump, a potential stumbling block in ongoing trade disputes. And for South Korea, an issue to be monitored. With the notable exception of Taiwan, cautious comments from the few governments willing to speak out on the ongoing protests...

Hong Kong police in standoff with protesters after sit-in

Aug. 21, 2019 8:39 PM EDT

HONG KONG (AP) — Hong Kong riot police faced off briefly with protesters occupying a suburban train station Wednesday evening following a commemoration of a violent attack there by masked assailants against supporters of the anti-government movement. Near the end of the event, the police began what they...

Indictment: US researcher working for Chinese college

Aug. 21, 2019 7:56 PM EDT

WICHITA, Kan. (AP) — An associate professor at the University of Kansas was secretly working full time for a Chinese university while doing research in Kansas on projects funded by the U.S. government, an indictment filed Wednesday alleges. Feng "Franklin" Tao was charged with one count of wire fraud and...

Pentagon cancels billion-dollar missile defense project

Aug. 21, 2019 7:49 PM EDT

WASHINGTON (AP) — The Pentagon is pulling the plug on a billion-dollar, technically troubled project to build a better weapon that would destroy incoming missiles. The move is aimed in part at considering new approaches to missile defense at a time of rapid technological change. The announced reason for...

Trump's fake accent angers Asian Americans as they veer left

Aug. 21, 2019 6:14 PM EDT

When Amanda Berg heard reports that President Donald Trump mocked the accents of the leaders of South Korea and Japan at a recent fundraiser, it brought back painful memories from her childhood. Berg, a Korean American who grew up in Fort Collins, Colorado, recalled kids doing the "stereotypical pulling at the...

US stocks climb after major US retailers post solid earnings

Aug. 21, 2019 5:11 PM EDT

Strong earnings reports from several big retailers helped drive stocks broadly higher on Wall Street Wednesday as the market bounced back from its first loss in four days. Target notched its biggest-ever gain, while Lowe's had its best day in more than a year, leading a broad rally in companies that rely on...

$248 million settlement reached with Chinese drywall maker

Aug. 21, 2019 5:00 PM EDT

NEW ORLEANS (AP) — A proposed $248 million settlement has been filed in a decade-old federal court case over defective Chinese drywall blamed for damaging home appliances and sickening residents. The proposed settlement between property owners and Taishan Gypsum Co. was filed in U.S. District Court in New...

Economic twilight zone: Bonds that charge you for lending

Aug. 21, 2019 4:56 PM EDT

FRANKFURT, Germany (AP) — Imagine lending money to someone and having to pay for the privilege of doing so. Or being asked to invest and informed of how much money you'll lose. Sounds absurd, but increasingly that's the global bond market these days. A rising share of government and corporate bonds are...