[New Tang Dynasty News, Beijing time, August 15, 2023] Please watch today’s 100 seconds of finance and economics.
Japan’s Q2 GDP annual growth rate of 6% is better than market expectations
The Japanese government announced that the gross domestic product (GDP) in the last quarter was converted to an annual rate of 6.0% compared with the previous quarter, which was better than market expectations. This positive growth indicates that the Japanese economy has expanded for three consecutive quarters, driven by external demand.
U.S. Treasury Secretary Janet Yellen expressed her views on the potential impact of China’s economic slowdown on the United States. Yellen stated that while a slowdown in China’s economy would primarily affect its Asian neighbors, there could also be spillover effects on the United States. Despite this, Yellen remains generally optimistic about the U.S. economy.
China Micro Semiconductor CEO: China’s chip manufacturing process is at least 5 generations behind
Yin Zhiyao, CEO of China Microelectronics Semiconductor, highlighted the significant gap between China’s chip manufacturing process and foreign countries. He mentioned that since 2019, the US government has issued 15 rounds of semiconductor restriction policies. Yin Zhiyao emphasized that the gap between China’s semiconductors and worldwide standards has widened. While in the past, there was a gap of two generations, it has now reached five generations.
Netflix enters game streaming to challenge Microsoft, Sony
In a surprising move, Netflix (NFLX) announced its entry into the game streaming industry. The company revealed its plans to launch a test of its game streaming service, initially providing it to a small number of subscribers in Canada and the United Kingdom. This strategic move by Netflix is considered a challenge to established gaming giants Microsoft and Sony.
NTDTV Asia-Pacific TV report.