Beijing earlier blasted a U.S. plan to launch a formal review of its maritime, logistics and shipbuilding sector, calling the investigation a mistake “based on the need of domestic politics.”

Geely said the divestment is “in accordance with its long-term strategy” and that it will remain Volvo’s second-largest investor.

Biden criticized what he labeled "unfair Chinese trade practices," where below-market cost steel has flooded into the global shipbuilding market.

Without the pandemic, the global container market would have been 198.1 million TEUs in 2023. Instead, it was only 171.0 million TEUs, BIMCO said.

Secretary Yellen said she expects "additional sanctions" against Iran sometime in the coming days.

U.S. giant, hurt by slowing sales in China, loses out to Samsung as China sales drop.

Iran’s airspace is frequently utilized by airlines traveling between Europe and India or Southeast Asia.

The Philippines is bolstering economic ties with the U.S. at a time when their relations with China have been strained.

Several geopolitical factors have slowed the post-pandemic recovery process so far in 2024, but there have been "positive signs" over the last year, too. 

Doubts about China as the ideal place to manufacture cheap consumer goods for the West have been voiced for years.