Month: November 2024

This morning, TSMC founder Morris Chang, accompanied by his wife, Lisa Chang, and the executive team, toured the facility during TSMC’s 27th Sports Day. This year marks the second time the event has been held since the pandemic. Chang arrived at 8:10 AM and was warmly welcomed by TSMC employees, who cheered “We love the founder” as he entered the VIP lounge. After a brief rest, he, along with Lisa and several other executives including Chairman C.C. Wei and MediaTek’s CEO Rick Tsai, took a stroll around the grounds together.

At 93, Chang’s determination shone through as he insisted on walking the 400-meter course without the assistance of a wheelchair, despite having been advised otherwise due to his slower pace. He completed the circuit in about 25 minutes, receiving applause from the crowd throughout his walk.

In his speech, Chang remarked on the promising outlook for TSMC in 2024, predicting another record-breaking year for the company. He recalled how he noted five years ago that TSMC would become a crucial player in geopolitics, and today, it has indeed become a key battleground for many firms. He also reflected on the intensifying U.S.-China trade war three years ago, declaring that “globalization is dead” and “free trade is dead.” Nevertheless, he emphasized TSMC’s commitment to development amidst rising geopolitical tensions, expressing confidence in their exceptional leadership team and belief that TSMC will continue to achieve remarkable feats.

“TSMC Sports Day is the most exciting day of the year for me,” he added, highlighting the significance of the event.

The attendees at the event included prominent figures closely associated with TSMC or who have transitioned from the company, such as Rick Tsai, former TSMC CFO Winston Chang, Macroblock Chairman Lin Kun-Hsi, and Acer Chairman Jason Chen.

If TSMC has made a mark in the semiconductor industry, today’s Sports Day certainly showcased it as “Morris Chang’s stage.”

Leah Elmquist, adopted from South Korea at a young age, finally became a U.S. citizen and obtained her passport just before her 40th birthday in 2022. Having served a decade in the Navy, she excelled in her role, but her lack of citizenship hindered her promotion opportunities. After retiring, she lived with the anxiety of possibly being deported.

Numerous children adopted from abroad continue to face challenges in obtaining U.S. citizenship due to legal oversights. Although Congress has recognized these gaps, no action has been taken to amend them. Many of these “undocumented children” were adopted decades ago by military families, and they now find themselves at risk of deportation, with some already having faced expulsion.

An investigation by the Associated Press reveals that the number of these overseas adopted children ranges between 15,000 and 75,000, primarily from countries like Korea, Ethiopia, and Romania, among others. They hold adoption documents signed by judges and stamped by government authorities, which affirm their eligibility for all privileges of American children. However, their adoption did not automatically grant them U.S. citizenship.

As these individuals reach adulthood and attempt to acquire passports, driver’s licenses, seek employment, or apply for government benefits, they are confronted with the shocking realization that they are not American citizens. This situation plunges their lives into chaos, especially when the government announces efforts to crack down on undocumented immigrants, leaving them fearful of being reported.

In response, they have initiated the “Adoptee Rights Campaign,” garnering support from the Southern Baptist Convention and liberal immigration advocates. Many share a deep sense of frustration and confusion over the government’s prolonged inaction.

The international adoption landscape flourished in the 1950s due to the Korean War, as there was a significant demand for infants in the U.S., while Korea aimed to reduce its population. Governments, eager to please the U.S., expedited the adoption process, often overlooking the necessary steps to ensure that adoptees received citizenship. Some children entered the U.S. on tourist or medical visas.

In 2000, Congress acknowledged that adoptees were trapped in a legal limbo. With nearly 20,000 children adopted each year, the absence of standardized processes to assist adoptive families prompted the passage of the Child Citizenship Act, which auto-grants citizenship to adopted children. However, this law only applies to those under 18, meaning anyone born before February 27, 1983, is excluded.

Bipartisan support exists for rescuing children through adoption, with many churches promoting international adoption as a biblical calling. However, Hannah Daniel, Public Policy Director for the Ethics and Religious Liberty Commission of the Southern Baptist Convention, has participated in advocating for ten years for legislation to expand citizenship to all children legally adopted by American parents, yet has seen no results. In the politically charged environment where both parties are entangled in disputes over immigration issues, any proposed pathways to citizenship have stalled.

On October 19, the 2024 Forum for Promoting Global Ecological Civilization (Erhai) was held in Dali, Yunnan. Nearly 300 guests from over 30 countries and regions gathered by the shores of Erhai Lake under the theme “Working Together to Promote Eco-friendly Modernization.” The event aimed to share practical experiences from various countries and explore discussions on ecological civilization and environmental protection.

“Ecological civilization is crucial for the modernization processes of countries and the sustainable development of human civilization,” noted Du Zhanyuan, a standing committee member of the 14th National Committee of the Chinese People’s Political Consultative Conference and director of the China Foreign Languages Publishing Administration. He emphasized the importance of promoting eco-friendly modernization through a development model that fosters harmony between humanity and nature, leveraging technology for good, and enhancing the exchange of beneficial practices in ecological civilization among nations. He called for a united global effort to accelerate joint action in ecological progress.

Guo Weimin, president of the China Public Relations Association, shared insights on enhancing communication around ecological civilization. He stressed the need for targeted and effective messaging, advocating for innovative communication methods, including visual and interactive products and the application of artificial intelligence. His goal is to showcase successful practices and exemplary cases of ecological civilization development in China to promote international cooperation.

Dario Mihelin, the Croatian ambassador to China, expressed his observations after visiting various regions in China. He noted that the principle of “lucid waters and lush mountains are invaluable assets” heavily influences and drives China’s ecological civilization efforts. Mihelin highlighted ongoing and fruitful cooperation in biodiversity protection between Croatia and China, mentioning increasing Chinese investments in renewable energy in Croatia and the desire to further enhance comprehensive cooperation.

Adelina Santos Borja, vice chair of the International Lake Environment Committee’s scientific committee, emphasized the need for participation from governments, enterprises, research institutions, NGOs, and international organizations in comprehensive lake governance to achieve eco-friendly modernization in lake basins. She sees the Erhai Forum as a platform that unites stakeholders from local, national, and global levels in the shared pursuit of sustainable lake basin management.

The forum also released the “Global Corporate Green, Low-carbon, and Sustainable Development Initiative (Erhai)” and discussed the future of blue carbon, including plans for a macroalgae carbon sequestration project among Belt and Road Initiative countries. Additionally, it launched the “Silk Road Hundred Cities” initiative with the “Dali Transmission” project, aiming to further promote international cooperation in green and low-carbon development.

On October 22, federal health officials announced that an E. coli outbreak linked to McDonald’s Quarter Pounder burgers has resulted in at least 10 hospitalizations and one reported death.

The Centers for Disease Control and Prevention (CDC) shared that between September 27 and October 11, a total of 49 cases were reported across 10 states, with the majority of incidents occurring in Colorado and Nebraska. According to the CDC, “most” of the affected individuals had consumed the Quarter Pounder burger, and investigators are working to determine which specific ingredient may have been contaminated.

CBS reported that among the 26 patients in Colorado, one elderly individual has died. Nebraska has reported 9 illnesses, while Utah and Wyoming each reported 4 cases. Other states, including Iowa, Kansas, Missouri, Oregon, and Wisconsin, also reported cases.

In a statement on their website, McDonald’s North America Chief Supply Chain Officer Cesar Piña indicated that “preliminary investigations suggest that part of the illnesses may be related to the diced onions used in the Quarter Pounder.”

The CDC noted that McDonald’s is collaborating with federal and state public health officials and has temporarily halted the use of fresh diced onions and Quarter Pounder patties in several states, meaning these products will be unavailable for the time being.

In a thrilling encounter at Wembley, England fell short against Germany, suffering a 4-3 defeat that left fans and analysts questioning the team’s performance ahead of their European Championship title defense. Sarina Wiegman’s squad, still riding high from their triumph at the Euros in 2022, faced a stark reality after a poor defensive showing and a conservative starting lineup led to the concession of three goals in the first 30 minutes.

When asked about the match, Wiegman acknowledged the challenges ahead. “We have nine months to prepare for the Euros in Switzerland,” she said. “Based on this performance, I have a lot of work to do to regain our defensive solidity.”

German manager Christian Wück had to contend with significant player absences, including Lena Oberdorf due to injury, which made England’s lack of fresh talent in the starting XI all the more surprising. The decision to start familiar faces over players in form at club level, such as Aggie Beever-Jones and Grace Clinton, was met with skepticism. Wiegman opted for experience, sticking with key players from their previous victory over Germany in the Euro final, but the decision quickly backfired.

Wiegman’s faith in her tried-and-true lineup soon seemed misplaced as early mistakes set the tone for the match. A misdirected pass from Leah Williamson led to Germany’s first goal, and just moments later, England’s hopes were dashed as they conceded a second. “We knew how important this match was, but it felt like we were running in circles,” commented an exasperated fan in the stands.

Despite falling behind, England managed to respond quickly, as Georgia Stanway converted a penalty after a VAR review. “It was important to get back into the game,” Stanway reflected. “But we couldn’t sustain it.” Her sentiment conveyed the frustration of a team that had shown glimpses of potential but ultimately fell victim to defensive blunders.

As the game continued, England reduced the deficit further with another goal from Stanway. Yet, even as they pressed for an equalizer, defensive lapses allowed Germany to secure their lead again, culminating in a fourth goal that left England reeling.

Players and fans alike left Wembley with a mix of concern and determination. Wiegman remarked, “We have time to learn from this experience,” emphasizing the need for the team to regroup and strategize effectively. As England prepares for their title defense next summer, this match serves as a critical wake-up call that the road ahead will require not just skill, but also resilience and adaptability.

Recently, the “China Coffee Industry Report 2024” was released, revealing a significant evolution in China’s coffee consumption market, shifting from instant coffee dominance to a more diversified consumption approach, with freshly brewed coffee rapidly becoming the mainstream choice.

The report provides an in-depth analysis of the global coffee supply chain, the current state of China’s coffee industry, its development trends, and the challenges it faces. It emphasizes that the addictive qualities and invigorating effects of coffee contribute to consumer habits, suggesting a substantial market potential in the future. Notably, investment interest in coffee enterprises remains robust, which is likely to further accelerate the industry’s growth.

Despite the rapid development of China’s coffee market, the report highlights that per capita consumption still lags significantly behind that of mature markets like Japan, South Korea, Europe, and the United States, indicating considerable room for growth. Currently, coffee cultivation in China is primarily concentrated in Yunnan, which produces slightly over 100,000 tons annually and has maintained stable output over the past decade. In 2023, China’s coffee exports fell to a historic low of 20,000 tons, while imports grew by more than 20%, reaching 150,000 tons and valued at nearly 6 billion yuan. Coffee consumption in China has surged by 167% in the last decade, now totaling 350,000 tons, reflecting the increasing demand for coffee in the market.

Geographically, the top five cities for coffee shops in China—Shanghai, Guangzhou, Beijing, Chengdu, and Shenzhen—have seen their combined market share drop from 23% in September 2022 to less than 19% in September 2024, indicating rising coffee market penetration in third- and fourth-tier cities.

The report also indicates that the global coffee industry value chain encompasses multiple stages, from cultivation to end consumption, forming a vast industrial network. The quality of coffee beans is influenced by various stages, including planting, roasting, and brewing, where the intrinsic quality of the beans and the roasting process are particularly crucial. Currently, global coffee production stands at approximately 10 million tons, with a growth of around 15% over the past decade. However, due to global inflation, coffee bean prices have reached high levels.

This report was jointly released by the World Chinese Cuisine Association and Heiyu Investment, aiming to provide comprehensive data support and market insights for decision-makers, investors, and coffee enthusiasts both within the industry and beyond.

On October 23, the City of San José proudly announced that the San José Clean Energy (SJCE) has secured the sixth spot on the National Renewable Energy Lab’s (NREL) 2023 list of Community Choice Aggregation (CCA) green power providers. Serving nearly 350,000 customers, SJCE’s rise in ranking signifies significant progress in promoting sustainable energy.

This recognition highlights organizations across the nation excelling in green energy initiatives. Currently, 60% of SJCE’s standard energy service comes from renewable sources, far exceeding California’s minimum requirement of 44% by 2024. Additionally, SJCE offers an upgrade option which allows customers to access 100% clean energy for a small monthly fee.

The inclusion of SJCE in this year’s list reflects its successful response to the growing demand for green energy from San José residents and businesses. Mayor Matt Mahan expressed appreciation for the community’s support, stating, “Thanks to our dedicated community members, we have accelerated the development of clean energy. San José now operates the largest single jurisdiction CCA in the country and boasts one of the cleanest power portfolios. We are the first major city in the U.S. to set a carbon neutrality goal for 2030. SJCE’s achievements demonstrate our commitment to doing everything we can for future generations.”

This year also marks the fifth anniversary of SJCE, which has been providing services to nearly one million residents and businesses in San José since its inception in 2019. In that time, SJCE has signed contracts for over 10 gigawatts of renewable energy, enough to power nearly 600,000 typical homes.

Jennifer Maguire, the City Manager of San José, commented, “This is an outstanding achievement for San José Clean Energy. Over the past five years, SJCE has steadfastly committed to providing renewable energy to our residents and businesses, and the progress we’ve made in reducing carbon emissions is something we should all take pride in.”

With the continued expansion of SJCE, the city is making significant strides toward its goal of achieving carbon neutrality by 2030.

On the afternoon of October 17, 2024, Xi Jinping, General Secretary of the Communist Party of China, President, and Chairman of the Central Military Commission, visited the Binhu Science City in Hefei, Anhui Province. During his visit, he examined significant technological innovations from recent years and engaged in warm discussions with on-site researchers and business leaders.

Since the 18th National Congress of the Communist Party, Xi Jinping has visited Hefei three times, each visit meticulously planned to focus on scientific innovation and the development of emerging industries, underscoring the central government’s high regard for technological advancement.

In April 2016, Xi visited the Spin Magnetic Resonance Laboratory at the University of Science and Technology of China to learn about the state of research. Similarly, on August 19, 2020, he toured the Anhui Innovation Hall in Hefei to gather insights on the province’s progress in technology innovation and emerging industries. Guided by the General Secretary’s important directives, Hefei has vigorously implemented an innovation-driven development strategy, tapping into major platforms such as national laboratories, comprehensive national science centers, and the Silicon Valley of Science and Technology. With the aid of large scientific installations, the region continues to consolidate its innovative advantages, achieving new breakthroughs in technological advancements.

As one of the key sites for scientific research, Hefei is home to significant facilities like the “artificial sun” – the Experimental Advanced Superconducting Tokamak (EAST) – and the Optical Interferometer used for the “Nine Chapters” quantum computing prototype, a collaboration that set a world record in photonic quantum information technology. The Hefei Advanced Light Source, which commenced construction on September 20, 2023, is poised to become an international leader in synchrotron radiation facilities, further establishing Hefei as a global center for photon science research.

In recent years, Hefei has effectively converted its research potential into developmental momentum, leveraging innovation to drive industrial progress. As of 2023, the city counts over 11,000 nationally recognized technology-based small and medium enterprises, ranking 12th among cities nationwide. Additionally, 20 companies have been listed on the Science and Technology Innovation Board, placing Hefei 6th nationally. The city has also mapped out 3,190 technological achievements from academic institutions, leading to the establishment of 416 new companies focused on translating scientific outcomes into practical applications.

With a strategic focus on elevating traditional industries and fostering newly emerging sectors, Hefei is committed to technological innovation as a cornerstone for urban prosperity. For instance, the local seed company emphasized advancing its research capabilities in high-yield, high-quality rice varieties, while companies like BOE Technology Group are pioneering advancements in display technology.

As part of the 2024 World Manufacturing Conference held in Hefei, robotic technologies and innovative educational products were showcased, highlighting the city’s momentum in cultivating advanced manufacturing and smart solutions in various sectors. Hefei stands firm on its path to integrate innovation with industry to propel high-quality development, ensuring a vibrant future fueled by scientific achievements.

According to a report from the Ministry of Agriculture and Rural Affairs on October 17, the “Wholesale Price Index for Agricultural Products” stands at 130.08, a drop of 0.30 points from yesterday. The wholesale price index specifically for “basket” products is at 132.68, down by 0.35 points.

As of 2 PM today, the national average prices for various agricultural products in wholesale markets are as follows: pork is priced at 24.82 yuan per kilogram, down 1.0% from yesterday; beef is at 61.68 yuan per kilogram, up 0.2%; lamb is priced at 59.24 yuan per kilogram, up 0.7%; eggs are at 10.40 yuan per kilogram, increasing by 1.5%; and whole chickens cost 18.11 yuan per kilogram, rising 0.6%. For the 28 key monitored vegetables, the average price is 5.82 yuan per kilogram, down 0.2%, while the average price for the six monitored fruits is 7.18 yuan per kilogram, a decline of 1.2%. In terms of fish, crucian carp is at 20.92 yuan per kilogram, down 2.0%; carp is priced at 14.30 yuan per kilogram, down 2.5%; white catfish is up to 10.39 yuan per kilogram, increasing by 3.1%; and large hairtail is at 40.03 yuan per kilogram, down 1.0%.

Additionally, among the 46 key monitored varieties of fresh agricultural products today, the five with the largest price increases compared to yesterday are green onions, white catfish, garlic shoots, winter melons, and potatoes, with increases of 7.4%, 3.1%, 2.7%, 2.5%, and 1.8% respectively. Conversely, the five with the most significant price decreases are pleurotus mushrooms, large yellow croakers, carp, green beans, and spinach, seeing decreases of 2.7%, 2.6%, 2.5%, 2.5%, and 2.3%.

This year, the annual meetings of the International Monetary Fund (IMF) and the World Bank are taking place against a backdrop of profound concern. On October 21, in Washington, DC, global finance and economic decision-makers gathered at a time when the specter of inflation appears to be fading, and the possibility of a soft economic landing seems within reach. However, they are also faced with challenges stemming from geopolitical tensions and soaring debt levels that demand immediate attention.

The mood at this year’s meetings is particularly tense, influenced by a variety of looming uncertainties. Observers are wary of the potential economic ramifications of the upcoming U.S. presidential election in November, as well as escalating debt levels around the world, worsening conflicts in the Middle East, the protracted situation in Ukraine, and rising tensions across the Taiwan Strait.

IMF President Kristalina Georgieva set the tone ahead of the meetings by stating, “Don’t expect celebrations.” She added, “I hope that as people leave here, they feel a mix of encouragement and fear, but I would like that fear to drive them to take stronger action.”

Bloomberg Economics predicts global GDP growth to reach 3% this year, slightly down from 3.3% in 2023, yet significantly improved from earlier pessimistic forecasts. U.S. consumers continue to spend, and businesses are still hiring; meanwhile, while European demand has softened, growth is expected to continue. China’s government is rolling out stimulus measures to support its real estate market; although these efforts may not fully satisfy bullish investors in the stock market, they are likely to help achieve an economic growth goal of nearly 5% for the year.

However, the resilience of the world’s major economies faces a litmus test, especially with former President Trump proposing policies that could have enormous implications for global trade. He has threatened to impose tariffs of at least 10% on all imported goods and as much as 60% or more on products from China.

Economic forecasts indicate that the U.S. could ultimately bear the brunt of these actions. According to Bloomberg Economics, if China retaliates against Trump’s proposed tariffs, the U.S. GDP might decline by 0.8% by the time of the 2028 election, with China’s impact being roughly half that of the U.S. European Central Bank President Christine Lagarde conveyed a cautiously optimistic outlook when she stated, “We still anticipate a soft landing,” but acknowledged that a new trade war could endanger this prospect.

In addition to trade war concerns, Bloomberg Economics estimates that if full-scale warfare erupts in the Middle East, oil prices could surge to $100 per barrel, alongside defensive maneuvers in financial markets, potentially dragging down global economic growth by 0.5 percentage points over the next four quarters and raising inflation by 0.6 percentage points.

Debt remains another significant risk, with IMF analyses indicating that global public debt is projected to reach $100 trillion by the end of this year—equivalent to 93% of the world’s GDP. The IMF warns that governments need to make difficult decisions to stabilize their debt levels.