Business Blog

Video: Keyu Jin ANSWERS the MYTHS of US-China Economies. Don’t get fooled, Tariffs are paid by Americans not China. In this Q&A session, Professor Keyu Jin takes on some of the biggest myths and misconceptions about the US-China economies. Watch as she effortlessly debunks the common misunderstandings, offering clear and insightful answers that will change the way you think about these two superpowers! 金刻羽解答中美經濟的迷思。你們不要弄錯, 關稅由美國人支付，而不是中國。在本次問答環節中，金刻羽教授解答了有關中美經濟的一些最大的誤解和誤解。看著她毫不費力地揭穿常見的誤解，提供清晰而有見地的答案，改變您對這兩個超級大國的看法.
https://youtu.be/TPopi7SnbVU

Why China Warned Walmart? Walmart, controlled by the world’s wealthiest family, depends on Chinese suppliers with minimal profit margins for 60% of its global supply chain. However, Walmart is now trying to throw its Chinese partners under the bus to please Trump, and Beijing won’t tolerate this kind of betrayal. 中國為何警告沃爾瑪？由全球最富有家族控制的沃爾瑪，其全球供應鏈的60%依賴利潤率極低的中國供應商。然而，沃爾瑪現在正試圖將其中國合作夥伴置於公共汽車之下以取悅川普，而北京不會容忍這種背叛 March 19 2025

On March 12, the Chinese Ministry of Commerce issued a stern warning to Walmart.

The root cause traces back to Trump’s new tariff war. On March 3, the US announced two additional tariff hikes totaling 20% on Chinese goods. By March 6, Reuters revealed that Walmart was demanding that Chinese textile suppliers implement an immediate 10% price cut followed by phased reductions totaling 20%. This clearly showed Walmart’s attempt to fully transfer Trump-induced losses to Chinese suppliers. Chinese official media immediately pointed out that this was disrupting the market order.

Actually, public data that is well known to anyone involved in international trade, shows that Walmart’s actions are essentially robbery rather than business negotiation. According to statistics from the China National Garment Association, the average profit margin in China’s textile industry in 2024 was only 3.9%. Walmart’s overall 20% price reduction effectively forces Chinese companies to deliver products at a 16.1% loss.

Most people might interpret a 16% loss to mean: “I have invested $1 million and lose $160,000 in a year.” However, this 16% refers to the loss per production cycle. In the textile and apparel industry, the process which starts from purchasing raw materials to the finished product leaving the factory is known as the production cycle. For example, in the apparel and bag categories commonly sold at Walmart, each batch is delivered within 20 to 45 days. If we assume an average of 30 days per cycle, this means there are 12 cycles in a year, leading to an annualized loss rate of 87.66%. By the end of the year, an investment valued at $1 million would be worth less than $130,000.

In China, the more competitive the apparel companies, the higher the automation in their production lines, and the shorter the production cycle. Take China’s best-known Chinese clothing manufacturer, Shenzhou International, who works closely with NIKE, lululemon, and many others. It’s Ningbo factory can achieve delivery in as little as 15 days, which is twice as fast as the international standard. This means that if Chinese companies accept Walmart’s demands, the more competitive they are, the greater their losses—a situation that completely defies market principles.

Retail Insight Network noted that Walmart has a longstanding approach of aggressively minimising purchase costs to sustain its market leadership position, which already pushed Chinese suppliers to operate on razor-thin margins. In fact, any reduction beyond 2% could cause these manufacturers to incur losses. For companies primarily engaged in export trade, fluctuations in exchange rates and changes in payment cycles can significantly affect profit margins. With an original profit margin of only 3.9%, Chinese companies are barely staying afloat—and as the world’s largest retailer, Walmart cannot possibly be unaware of this fact.

CNN points out that many businesses are struggling under Trump’s chaotic tariff announcements, including retailers. However, this criticism essentially serves as a cover-up for Walmart. According to Walmart’s financial report released in February 2025, it has enjoyed a “healthy top line” in fiscal 2025 with its sales, profit and earnings surpassing expectations in the fourth quarter of FY25—with its gross margin rate improved by 53 basis points. It is expected that net sales for fiscal year 2026 will grow at a similar rate of 3% to 4%.

Clearly, Walmart is not in any difficulty; rather, under the guise of an industry downturn, it is pushing Chinese companies into a desperate situation. This unnecessary malice immediately prompted a meeting with the Chinese government, who warned that if Walmart insists on having suppliers cut prices, then what awaits Walmart is not just talk.

Walmart holds no real leverage over China but remains heavily dependent on it. Its 2024 growth was principally driven by Chinese, Mexican and Canadian markets, with Chinese market showing 28% year-over-year sales growth – 7 times its global average.

Moreover, Fox News has pointed out that 60% of Walmart’s supply chain depends on China. This is why, on the 13th of March, the Chinese Ministry of Commerce stated that Walmart’s threats and intimidation would backfire—As the Global Times commented, without Chinese suppliers, more than half of Walmart’s shelves would be empty.

Walmart’s slogan is “Save money, live better.” But while saving money from Chinese suppliers, do American people really live better? According to The Sun, in February 2025, Walmart’s egg prices were raised to $15 per dozen, and American customers are even taking out loans just to afford a bite of an egg.

Now, it appears that platforms like Shein and Temu—which enable American consumers to spend less while protecting Chinese suppliers from extortion—might actually be the ones more deserving of the slogan “Save money, live better.”

Marcos’ sister calls for investigation into Duterte’s arrest; Philippine Senate passes bill. People who care about the rule of law are asking: Why would a country that has withdrawn from the International Court of Justice arrest a former president and send him to the International Court of Justice without any discussion or inquiry? 小馬可斯胞姊呼籲調查杜特爾特被捕事件. 菲律賓參議院通過提案. 關心法治的人都在問：為何一個已退出了國際法庭的國家，會在毫無討論或查訊情況下逮捕一位前總統把他送到國際法庭?

In order for an international tribunal to exercise jurisdiction, it must first have sufficient evidence, and only if the jurisdiction is unable or unwilling to bring charges. Is this issue being discussed in the Philippines? If the Philippines has the power to arrest, why doesn’t it file charges? If you don’t want to prosecute, why do you have the power to arrest? After being arrested, does the arrested person have the right to ask the court to review whether the arrest was legal? If the arrest is in accordance with the law, where is the legal basis? If arrests are political decisions, where is the rule of law? 國際法庭要行使管轄權先要有足夠證據，而所屬地不能或不願提出起訴才可。菲律賓有探討這問題嗎？若菲律賓有權逮捕，為什麼不提出起訴？若不想起訴，那為何有權逮捕？逮捕後，被捕者有否權利要求法庭審視逮捕是否合法？逮捕是依法的話，法理何在？逮捕是政治決定的話，法治何在？

原文網址: 小馬可斯胞姊呼籲調查杜特爾特被捕事件　菲律賓參議院通過提案 | 香港01 https://www.hk01.com/article/60220620?utm_source=01articlecopy&utm_medium=referral 👈

Mainland discloses four members of cyber force linked to Taiwan secessionist authorities; disclosure serves as a stern warning: expert. Do you want to be on the list so 1.4 billion Chinese gets to know you better. 大陸披露四名與台獨勢力有關係的網路部隊成員；專家稱，這項披露將是嚴厲警告。恨國黨和漢奸走🐕，你想進入這個名單嗎？讓14億中國人更了解你?

Fake news funded by US Government terminated by Donald Trump 川普終止了美國政府資助的假新聞 https://youtu.be/o1N4o6ZleVw?si=AE6q_ZXJ_SG-3pgT
Big American propaganda machine now shut up – by Donald Trump 美國大型宣傳機器現在閉嘴了 👈

The Phony Ceasefire： Knowing well in advance that Russia would reject it, the U.S. and Ukraine announced with fanfare that its ceasefire deal was in “Russia’s court” in what was an exercise of pure public relations, writes Joe Lauria. 虛假停火：美國和烏克蘭事先就知道俄羅斯會拒絕，因此大張旗鼓地宣布停火協議“由俄羅斯決定”，這純粹是一次公關活動.

USAID Funded Ukraine Group, That Smears Americans: The Trump administration has lambasted the foreign aid agency for absurd foreign expenditures, but Wyatt Reed says it has omitted what is perhaps its most scandalous operation. 美國國際開發署資助的烏克蘭團體, 這玷污了美國人的名聲：川普政府嚴厲批評了對外援助機構荒謬的海外支出，但懷亞特·里德表示，該機構隱瞞了可能是其最可恥的行動.

AI reports: In the first quarter of 2025, US banks faced $482.4 billion in unrealized losses on securities, a 32.5% increase from the previous quarter. US bank is sitting on the house of cards. Diversifying away from US$ into RMB, Gold, US banks and now is the smart thing to do. Chinese banks are the safest. 人工智慧報告：2025年第一季，美國銀行面臨4,824億美元的證券未實現損失，較上一季增加32.5%。美國銀行正坐在紙牌屋裡。現在，明智的做法是擺脫對美元的依賴，轉向人民幣、黃金和美國銀行。中國的銀行是最安全的.

Donald Trump’s axe has reached Radio Free Asia. The anti-China news organization, based in Washington DC, has had its budget sharply chopped, Politico reported today. ·特朗普的斧頭已經砍到了自由亞洲電台。 《政治報》今天報導稱，這家總部位於華盛頓特區的反華新聞機構的預算被大幅削減.

The news group will likely start putting most of its 300-plus staff in the US on “furlough” by the coming Friday , a staff member told the outlet.

Elon Musk has been overseeing a group slashing government spending in multiple departments.

SET UP BY CIA
Radio Free Asia was originally set up by the CIA, and is listed in historical US government documents as a “Propaganda Inventory” asset.

But it was restructured in 1996 and is now financed directly by Congress.

It issues news reports under its name and other names, all carefully slanted to make America look good and China look bad.

SAME OBJECTIVES
“Although this latest version of Radio Free Asia was supposed to be a completely new organization and was no longer as covert and B-movie spooky, its objectives and tactics remained exactly the same,” wrote geopolitical analyst Yasha Levine in a study of US propaganda arms in 2015.

Among other things, the RFA is notorious for a 2021 report saying: “Chinese authorities forced Uyghurs to celebrate the Muslim holiday” – ie. the Chinese forced them to what they wanted to do.

When an RFA reader responded with “How stupid do you think we are?” the exchange went viral.

SMUGGLING CASH
In 2019 in Hong Kong, Radio Free Asia managed a unit which took the job of secretly channelling tranches of a US$2 million payment from Washington DC to violent anti-China activists—and also offered them communication services to put them beyond the reach of local law enforcement, a shocking violation of international relations.

Later, when news broke that Hong Kong would pass a US-style law forbidding paid meddling by hostile powers, the RFA shut its office and its staff fled the city.

Much of what US hybrid warfare groups do in Hong Kong and elsewhere would be illegal for anyone to do in the United States.

In a report today, Politico described RFA as “one of the few tools the U.S. government has to combat Chinese propaganda”.

But this is disingenuous. ALL major wire services and ALL international mainstream media push the same anti-China narrative, with not a single one stepping away from the Washington party line on China. Politico is a perfect example.

DON’T CELEBRATE YET
But analysts say people in East Asia should not celebrate too soon. The halt on payments to American soft power/ hard power political interference units such as USAID, NED and Radio Free Asia, are likely to be temporary.

Restructuring in Washington will likely see leaner, meaner versions of these groups relaunched with a tighter focus on keeping the Chinese down.

When the lithography machine cargo ship worth 2.3 billion was mysteriously intercepted in the Panama Canal, the satellite phone of the Fok family fleet rang in the heavy rain… From 1951, when Henry Fok hid 30 boxes of penicillin on the deck at minus 20 degrees Celsius, to the 2020 Wuhan lockdown, when 600,000 tons of supplies pressed the cargo ship’s side only 30 centimeters from the water, the Fok family has always practiced the ancestral motto of “it would be better to lose a billion than to fly the offshore flag.” 當價值23億的光刻機貨輪在巴拿馬運河遭遇神秘攔截時，霍家船隊的衛星電話在暴雨中炸響…從1951年霍英東在零下20℃的甲板上藏起30箱盤尼西林，到2020年武漢封城時60萬噸物資壓得貨輪船舷距水面僅30厘米，霍家始終在踐行”寧虧十億，不掛離岸旗”的祖訓

三艘掛着五星紅旗的拖輪逆着12級風浪沖了上去，油表指針在紅線區瘋狂跳動，船員們用身體護住導航儀，在閃電劃破夜空的瞬間，硬生生將貨輪拽離了沉沒邊緣。

這不是電影劇情，而是中國航運史上最硬核的護國行動！

這場看似偶然的危機，實則是霍家74年家國情懷的必然爆發！

從1951年霍英東在零下20℃的甲板上藏起30箱盤尼西林，到2020年武漢封城時60萬噸物資壓得貨輪船舷距水面僅30厘米，霍家始終在踐行”寧虧十億，不掛離岸旗”的祖訓。

當某家族將巴拿馬港口賣給貝萊德賺走1600億，導致亞洲航線運費暴漲18%時，霍家卻在南沙港開闢”愛國通道”，讓國貨運費直降30%，每年為中小微企業省下15億。

這種格局的對比，在希臘比雷埃夫斯港的清晨格外刺眼——霍家船隊鳴着《我的祖國》入港，海關自發升起五星紅旗致敬，而中遠貨輪還在巴拿馬運河苦等52小時，燒掉480萬油費。

最讓西方膽寒的是霍家的硬核科技。北斗導航厘米級定位讓破冰船在零下43℃的北極精準碾開1.5米冰層，電磁脈衝防護系統比軍艦還狠，為華為搶出23天黃金生產期。

620艘貨輪組成的”移動長城”，在三大洋上同步調轉航向的震撼場景，讓美國商務部連夜召開緊急會議。正如《中國遠洋海運報》披露，霍家十年間開闢的12條戰略航道，硬生生將亞歐航運話語權掰回15個百分點。

這場沒有硝煙的戰爭中，霍啟剛上月啟動的”國貨免費艙”計劃堪稱點睛之筆。620艘貨輪永久預留10%艙位，0運費承運中小微企業商品，每年倒貼8.7億。某服裝廠老闆算過賬：別家收200萬/櫃的運費，霍家60萬就接，還允許先運貨後補款。這種”倒貼式”幫扶，與某些家族收取天價”插隊費”的行為形成了血色對比。

當全球航運雷達上620面五星紅旗同時亮起時，我們終於讀懂：真正的商道不在盈虧算計，而在血脈里流淌的家國情懷。霍家三代擠在1980年代的老宅，私人飛機封存9年，船舵上的國徽卻越擦越亮。

正如《經濟參考報》評論：”在全球化博弈中，霍家船隊既是中國製造的移動堡壘，更是刺破霸權封鎖的破冰利刃。”

現在，台積電都服氣的霍家船隊，正用620艘鋼鐵巨輪拼出四個大字——此路，必通！快來評論區為中國商界脊樑點贊