New Horizons Media Briefing (201507170001HQ)

Today’s News in Brief: US-China Relations, Tesla, Cambodian Politics, and More

The US announced new export restrictions on Chinese companies, citing national security and foreign policy concerns. Among the firms affected are the Inspur Group and BGI Research.

Mexico’s foreign ministry announced that Tesla’s plan to build a gigafactory in the country would create thousands of jobs and attract billions of dollars in investment.

China’s Central Disciplinary Commission of the Communist Party urged bankers to adopt a more communist mindset and stop living “hedonistic” Western lifestyles.

A Reuters poll found that the Indian rupee would remain stable over the next three months but may slightly appreciate by February 2024.

In Cambodia, opposition leader Kem Sokha was sentenced to 27 years of house arrest for treason, drawing condemnation from the US, which called the ruling politically motivated.

China blamed the US for the debt pressures faced by developing economies.

Foxconn, a supplier of Apple, plans to invest $700 million in a new plant in India, a sign of the ongoing diversification of supply chains away from China.

South Korea and the US will hold joint military exercises later this month, while North Korea continues to develop missiles.

Amid COVID-19 and political tensions, China is making efforts to preserve transnational businesses and attract foreign investment.

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