The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia were lower on Monday, as shares on a new Nasdaq-style technology board on the Shanghai Stock Exchange skyrocketed on their debut day.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The biggest Chinese newspaper explicitly warned the U.S. on Wednesday that China would cut off rare earth minerals as a countermeasure in the escalated trade battle, using a history-laden expression the publication has used ahead of full-on wars.
"We advise the U.S. side not to underestimate the Chinese side's ability to safeguard its development rights and interests. Don't say we didn't warn you!" the People's Daily said in a commentary titled "United States, don't underestimate China's ability to strike back." The publication is the official newspaper of the Communist Party of China.
The phrase "Don't say we didn't warn you" has been used before by the People's Daily in 1962 before China's border war with India and ahead of the 1979 China-Vietnam War.
"Will rare earths become a counter weapon for China to hit back against the pressure the United States has put on for no reason at all? The answer is no mystery," the paper said.
The trade conflict between the world's two largest economies escalated quickly this month with both sides slapping tariffs on billions of dollars worth of each other's goods. China's threat to restrict rare earth mineral sales to the U.S. came after President Donald Trump blacklisted Chinese telecom giant Huawei, which led to many chipmakers and internet companies cutting ties with the company.
The speculation about China's payback first surfaced when Chinese President Xi Jinping visited rare earth mining and processing facilities in Jiangxi province during a domestic tour last week. A Chinese official warned Tuesday that products made from the materials should not be used against China's development, which was seen as a veiled threat aimed at the U.S. and its technology industry.
China's rare earth materials are crucial to the production of iPhones, electric vehicles and advanced precision weapons, although the imports were a relatively small part of the $420 billion U.S. goods deficit with China in 2018.
The Chinese tabloid Global Times also said Tuesday that China can play the "rare earths card" and that it's "seriously considering" the move.
The stock market took a big hit amid the tit-for-tat strategies between the U.S. and China, with stocks poised to post their first negative month of the year. has lost nearly 6% this month.
Correction: This article has been updated to remove an incorrect reference to the number of times the phrase "Don't say we didn't warn you" has been used by the People's Daily. Additionally, this article has been updated to reflect that China's border war with India was in 1962 and the China-Vietnam War was in 1979.