European Parliament: Centrist-Right and Far-Right Alliance Passes 'Corporate Deregulation' Bill

The European Parliament has passed a bill easing corporate regulations through a coalition between the largest centrist-right bloc and far-right forces. On the 13th (local time), the European Parliament voted to pass an amendment to last year's corporate environmental regulation law, aiming to reduce burdens on companies, with 382 votes in favor, 249 against, and 13 abstentions. The European People's Party (EPP), the largest center-right group in the Parliament and the bill's sponsor, overcame opposition from its traditional centrist and leftist allies by securing support from far-right political groups such as "Patriots for Europe (PfE)" and "European Conservatives and Reformists (ECR)." The European Union (EU) had originally adopted the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) last year, requiring companies to regularly publish reports on labor and environmental issues and to take responsibility for human ri

Economy

11.14 06:56

Europe Moves to Curb Chinese E-Commerce Firms: "Tariffs to Be Imposed on Low-Priced Parcels"

In an effort to strengthen regulations on Chinese e-commerce imports, European countries plan to impose tariffs on low-priced parcels arriving from overseas as early as 2026. On November 13 (local time), the finance ministers of the European Union (EU) held a meeting in Brussels and agreed to abolish the current tax exemption for low-priced parcels valued at less than 150 euros (255,000 won) and to impose tariffs on such parcels as soon as possible. They also decided to consult with the European Parliament on these measures in the future. Maro? ?ef?ovi?, the EU Commissioner for Trade and Economic Security, proposed scrapping the tax exemption for online purchases under 150 euros two years earlier than originally planned, in the first quarter of 2026, and introducing a "simplified temporary customs fee." The finance ministers of the member states put the proposal to a vote and passed it. This measure is seen as targeting Chinese e-commerce platforms such as Shein, Temu, and Alibaba, whi

Economy

11.14 05:53

China Cracks Down on Online Seller Tax Evasion... Demands Sales Data from Amazon and Others

Bloomberg reported on the 13th, citing sources, that Chinese tax authorities have requested global shopping platforms such as Amazon.com to submit sales data for Chinese vendors operating on their platforms. This measure marks the first time authorities have taken action to crack down on tax evasion by Chinese sellers conducting overseas business through online platforms. According to online sellers across China who requested anonymity, the State Taxation Administration of China has, over the past several months, instructed major global e-commerce companies to submit third-quarter sales data for Chinese sellers. Amazon began providing this data in mid-October, while Chinese platforms such as Aliexpress, operated by Alibaba Group, as well as Temu and Shein, received the request and submitted their data several weeks before Amazon. Bloomberg noted that Chinese tax authorities did not raise issues regarding illegal activities by the platforms themselves. According to sources, the actual s

Economy

11.13 14:38

Despite China Lifting Export Controls, "Nexperia Chip Shortage Persists"

Although China has lifted export controls on chips produced by semiconductor company Nexperia, the European automotive industry continues to face a chip shortage, the Financial Times (FT) reported on November 12 (local time). Quoting sources in the automotive industry, FT reported that ongoing conflict between Nexperia’s headquarters in the Netherlands and its Chinese subsidiary has resulted in the Dutch headquarters withholding silicon wafer supplies from the Chinese subsidiary. The wafers are manufactured at Nexperia’s European plants in the Netherlands, the United Kingdom, and Germany, then shipped to the Chinese plant for assembly before being exported back to Europe and other regions. The chip supply crisis triggered by Nexperia began when the Dutch government took control of the company at the end of September, citing concerns over technology leaks. In response, China imposed export controls on Nexperia products, most of which are produced in its domestic factories, leading to a

Economy

11.13 14:06

US ‘Longest-Ever’ Shutdown Ends After 43 Days... Trump Claims $1.5 Trillion Loss

The United States federal government shutdown, which lasted for a record 43 days, has finally come to an end, significantly easing much of the uncertainty that had weighed on the U.S. economy. The direct hit to household finances caused by suspended wage payments, which had raised concerns about shrinking consumer spending and employment slowdown, is also expected to be alleviated. With the end of the shutdown and the resumption of economic indicator releases such as employment and inflation figures, the issue of diminished credibility in monetary policy decisions due to the lack of data is also likely to be resolved. However, President Donald Trump claimed that the prolonged shutdown resulted in losses amounting to 1.5 trillion dollars (approximately 2,200 trillion won) for the U.S. economy. On the 12th (local time), the U.S. House of Representatives passed the Senate's short-term spending bill (a temporary budget proposal) with 222 votes in favor and 209 against. This shutdown last

Economy

11.13 12:04

China to Become World's Top Net Creditor Nation by Year-End [Economic Policy Zoom-In]

China is projected to become the world's largest net creditor nation by the end of this year. Japan held the top spot for net foreign financial assets for about 30 years until 2023, and Germany took the lead in 2024. While there are several variables, China is expected to take the top position by the end of this year. As of the end of the second quarter this year, Germany still holds the top spot, but it is ahead of China by only 80 billion dollars. In the first half of this year, China recorded a current account surplus of 294.1 billion dollars, while Germany posted 120.1 billion dollars, resulting in a difference of about 170 billion dollars. If similar trends continue in the second half, it is almost certain that China will become the world's top net foreign asset holder. Japan, after losing its number one position to Germany last year for the first time in 34 years, has already dropped to third place as of the end of the second quarter this year, behind China. Hong Kong and Norway

Economy

11.13 11:14

US and Saudi Arabia Hold Last-Minute Security Talks Ahead of Bin Salman's Visit

According to a report by the U.S. online media outlet Axios on November 12 (local time), officials from both the United States and Saudi Arabia are engaged in last-minute negotiations to finalize a wide-ranging agreement, including security guarantees, on the occasion of Saudi Crown Prince Mohammed bin Salman's visit to the United States. Axios reported that Jared Kushner, son-in-law of U.S. President Donald Trump, visited Riyadh, the capital of Saudi Arabia, last weekend and met privately with Crown Prince bin Salman. It was also revealed that Musaad Al Aiban, Saudi Arabia's National Security Advisor, recently visited the United States. According to sources, Kushner discussed the future direction of issues related to the Gaza Strip. Prince Khalid bin Salman, the Crown Prince's younger brother and close aide, also visited the United States on November 10 and 11 to prepare for the summit, meeting with U.S. Secretary of State Marco Rubio, Secretary of Defense (Secretary of War) Pete Hegs

Economy

11.13 11:11

US 1-Cent Coin Retires After 232 Years... 'Post-Penny' Era Begins

The United States 1-cent coin (penny), first issued in 1793, is set to become a relic of the past after 232 years, ushering in the 'post-penny' era. On February 12 (local time), the final batch of 1-cent coins for circulation was produced at the United States Mint in Philadelphia, following President Donald Trump's directive earlier this year to halt penny production, Reuters reported that day. President Trump had previously instructed the Secretary of the Treasury to stop producing new 1-cent coins, citing that the manufacturing cost exceeded the coin's face value. The U.S. Department of the Treasury stated that it costs 1.69 cents to produce a single penny, and estimated that discontinuing production would save approximately 56 million dollars annually. Even after production ends, the 1-cent coin will remain legal tender. The Treasury estimates that about 300 billion pennies are currently in circulation. However, the production of collectible 1-cent coins is expected to continue on a

Economy

11.13 09:39

Trump Suddenly Proposes '50-Year Mortgage'... Is It a Shock from Election Defeat? [Current Affairs Show]

European Parliament: Centrist-Right and Far-Right Alliance Passes 'Corporate Deregulation' Bill

Europe Moves to Curb Chinese E-Commerce Firms: "Tariffs to Be Imposed on Low-Priced Parcels"

China Cracks Down on Online Seller Tax Evasion... Demands Sales Data from Amazon and Others

Despite China Lifting Export Controls, "Nexperia Chip Shortage Persists"

US ‘Longest-Ever’ Shutdown Ends After 43 Days... Trump Claims $1.5 Trillion Loss

China to Become World's Top Net Creditor Nation by Year-End [Economic Policy Zoom-In]

US and Saudi Arabia Hold Last-Minute Security Talks Ahead of Bin Salman's Visit

US 1-Cent Coin Retires After 232 Years... 'Post-Penny' Era Begins

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