Torbjørn Færøvik's Blog, page 48

Why GE Appliances will make more washing machines in Kentucky instead of China. It’s not what you think

Some of President Donald Trump’s steepest tariffs are on products like washing machines, and on Thursday, GE Appliances said it would spend a half a billion dollars to make even more of them in the United States. Tariffs, however, weren’t the driving factor behind the decision, the company’s CEO says, but they did serve as an accelerant.GE Appliances announced it would spend $490 million to move

Why China Isn’t a Bigger Player in the Middle East

China isn’t ready to be the world’s next superpower: That’s one thing the exchange of fire between Israel and Iran in June made abundantly clear.The country that was perhaps Tehran’s most important diplomatic and economic partner wound up playing virtually no role when Iran and Israel came to blows. This, despite the fact that Beijing has actively sought stronger relations with many countries in

China Has Paid a High Price for Its Dominance in Rare Earths

Chinese mines and refineries produce most of the world’s rare earth metals and practically all of a few crucial kinds of rare earths. This has given China’s government near complete control over a critical choke point in global trade.But for decades in northern China, toxic sludge from rare earth processing has been dumped into a four-square-mile artificial lake. In south-central China, rare

Trump threatens extra 10% tariff on nations siding with Brics

US President Donald Trump has warned that countries which side with the policies of the Brics alliance that go against US interests will be hit with an extra 10% tariff. Trump has long criticised Brics, an organisation whose members include China, Russia and India, which was designed to boost countries' international standing and challenge the US and western Europe."Any country aligning

PHOTOS: Dalai Lama celebrates 90th birthday, says he hopes to live beyond 130 years

Amid the sound of drums, music, and applause, the Dalai Lama stepped into Dharamsala’s main temple courtyard on Sunday, his 90th birthday. Welcomed by Tibetan cultural performers, the Tibetan spiritual leader was greeted by schoolchildren dressed in uniforms, monks, and residents, both young and old, in their finest traditional attire.The stage featured a backdrop proclaiming a “Year of

Dalai Lama succession: China warns India against interfering in Tibet-related matters

China warned India on Friday against interfering in Tibet-related matters after an Indian minister supported the Dalai Lama’s statement that his successor should be chosen by a Tibetan nonprofit group, rejecting moves by China to steer his succession. matters  “No one has the right to interfere or decide who the successor of His Holiness the Dalai Lama will be,” said Kiren Rijiju, India’s

Is the 'big, beautiful' India-US trade deal in trouble?

Is the "big, beautiful" India-US trade deal slipping out of reach? With just days to go before a 9 July deadline set by US President Donald Trump's administration, hopes of clinching an interim trade pact between Delhi and Washington remain alive but increasingly entangled in hard bargaining.Despite White House Press Secretary Karoline Leavitt hinting that the deal was imminent, and Indian

Torbjørn Færøvik: Still hopeful after all these years

Thousands of people have in recent days flocked to the small town of Dharamsala in northern India, all to honor the Dalai Lama, who turns 90 today.The celebration began earlier this week with various religious ceremonies but will conclude in a more relaxed manner, with song and dance—and surely even more devout prayers.The Dalai Lama is not as active as he once was. He has trouble walking and is

For the first time, Xi is missing a China-backed BRICS summit. Why?

A summit of leaders from the BRICS group of major emerging economies kicks off in Brazil Sunday – but without the top leader of its most powerful member. For the first time in more than one decade of rule, Chinese leader Xi Jinping – who has made BRICS a centerpiece of his push to reshape the global balance of power– will not attend the annual leaders’ gathering.Xi’s absence from the two-day

Dalal Lama at 90: «I always consider myself a simple monk»

«I always consider myself as a simple Buddhist monk. I feel that is the real me. I feel that the Dalai Lama as a temporal ruler is a man-made institution. As long as the people accept the Dalai Lama, they will accept me. But being a monk is something which belongs to me. No one can change that. Deep down inside, I always consider myself a monk, even in my dreams. So naturally I feel myself as