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Trade tensions escalate as China imposes retaliatory tariffs on US agricultural goods, following President Trump's recent tariff hikes. The measures, affecting products like chicken, wheat, and soybeans, aim to impact Trump's voter base while allowing room for potential negotiations. As China's economy faces challenges, including sluggish consumer spending and high youth unemployment, officials set a growth target of around five percent for the year, despite concerns over the ambitious nature of this goal.
Southeast Asian AI startups are shifting focus from competing in large language model (LLM) development to building applications on existing technologies, as giants like OpenAI lead the field. The introduction of DeepSeek has made it harder for major players to control costs, allowing regional firms to enhance user services without developing their own foundational models. Meanwhile, China has launched a US$138 billion fund to support early-stage tech startups in sectors like AI and renewable energy.
Thailand's payment landscape remains cash-dependent, hindered by the dominance of six major banks controlling 82% of the market. Despite significant investments in digitalization, these banks may stifle fintech innovation, making it challenging for startups to compete. Analysts express skepticism about the impact of upcoming virtual bank licenses on the entrenched system.
Farasis Energy has introduced 6C ultra-fast charging technology for lithium iron phosphate (LFP) batteries, enabling a charge from 10% to 80% in just 8.55 minutes. This advancement significantly enhances heat dissipation, improving efficiency and performance while maintaining safe temperature levels during rapid charging. The company's innovative design and simulation model streamline battery development, positioning Farasis as a key player in the power battery market.
Trade tensions escalate as China's tariffs on US agricultural goods take effect in response to President Trump's recent tariff hikes. The new levies, ranging from 10 to 15 percent, target products like chicken, wheat, and soybeans, aiming to impact Trump's voter base while allowing room for negotiations. As China's economy faces challenges, including sluggish consumer spending and high youth unemployment, officials set a growth target of around five percent for the year, despite concerns over the effectiveness of fiscal support amid ongoing trade disputes.
Asia's tech and startup scene is buzzing with significant funding rounds, including US$140 million for India's Darwinbox and US$69 million for UAE's Flow48. Notable acquisitions include India's Digiledge by Mintoak and I Freedom by Boss Wallah, highlighting a dynamic investment landscape. Additionally, the evolution of crowdfunding platforms like Kickstarter is reshaping funding opportunities for both indie creators and established brands.
Global billionaire wealth soared to a record $14 trillion in 2024, with the U.S. leading at $5.8 trillion, driven by strong economic growth and technological innovation. In contrast, China's billionaire wealth fell to $1.8 trillion due to regulatory challenges. The tech sector emerged as the primary wealth creator, while industrial investments also surged, reflecting shifting economic dynamics.
Sri Lanka has signed a $2.5 billion debt restructuring deal with Japan, marking its first agreement with bilateral creditors since last year's debt relief pledges. The deal is crucial for the nation's economic recovery, following its default on $46 billion in external debt in April 2022. Japan's support is seen as vital for Sri Lanka's stability in the Indo-Pacific region, as the country continues to implement reforms under an IMF bailout.
Toyota has launched its most affordable smart electric vehicle, the Bozhi 3X, in China, priced at $20,000, to enhance its market share in the competitive EV landscape dominated by local brands like BYD. The model received over 10,000 orders within an hour of its release, featuring advanced technology comparable to rivals. Despite the low pricing, details on profitability and export plans remain undisclosed.
At MWC 2025 in Barcelona, Huawei secured 33 international media awards, showcasing its leadership in smart devices and innovation. Key products included the HUAWEI Mate XT, the first commercial triple foldable phone, and the HUAWEI WATCH D2, a medically certified blood pressure monitor. The company's advancements in imaging and wearables, alongside a significant market share in tablets, highlight its commitment to technological progress and user experience.
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