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China to Launch First Nationwide personal Bankruptcy ⁣System, ⁣Aiding Struggling Entrepreneurs

DALIAN, China – China is implementing‍ a national personal⁢ bankruptcy system, ‌a ⁤landmark move‌ designed to provide ​a pathway for entrepreneurs saddled with ‍debt after⁤ business failures to rebuild their​ financial lives.‍ The system will allow individuals⁤ to liquidate personal debts, ‍offering⁢ a fresh start​ and aiming ⁤to foster a ‌more⁢ supportive habitat for risk-taking and innovation.

Currently,‌ China’s bankruptcy laws primarily address corporate ‍insolvency, ofen leaving business owners⁤ personally​ liable ⁢for outstanding⁣ debts. This has historically discouraged entrepreneurial activity, ⁤especially in emerging fields, due to ⁣the⁣ significant personal financial risk. The new system seeks⁤ to ​address this imbalance, ​encouraging individuals to pursue ventures ‍without the fear of lifelong‌ debt in the event of failure.

The initiative is expected to particularly benefit entrepreneurs in⁤ rapidly evolving sectors where business failure rates can be higher. By providing a legal framework for debt resolution, the government hopes to stimulate ‌innovation and economic growth. Details regarding the specifics ⁣of the system, including eligibility criteria and the liquidation process, are still being‌ finalized​ and⁣ are expected to be released in the ⁤coming months. This move signals a broader shift in policy towards‍ supporting​ entrepreneurship and reducing the⁣ stigma‍ associated with business failure.

Tenstorrent considers Intel foundry Services as Chip ⁢Production​ Options expand

TAIPEI – AI hardware startup Tenstorrent is⁤ evaluating Intel’s contract ‌chipmaking services alongside industry leaders TSMC and Samsung for the production of its next-generation chips,​ according to founder ⁤and CEO Jim Keller in an ‌exclusive interview⁤ with ​Nikkei Asia.The company is currently in discussions with both TSMC and Samsung regarding the use of their 2-nanometer technology.

Tenstorrent’s openness ⁢to multiple foundries signals⁣ a strategic move ⁢to secure supply and leverage⁤ competitive pricing in⁢ the⁤ increasingly crucial AI chip market. As⁢ demand for AI processing power surges, access to leading-edge manufacturing capabilities is⁢ paramount. This ‌versatility allows Tenstorrent to mitigate risks associated with relying on a single manufacturer and possibly optimize costs as it scales production.Keller’s⁢ statement indicates the company is prepared to consider all ⁢viable⁤ options⁢ to meet what he described as “endless”⁤ AI demand.

The AI startup is actively exploring utilizing 2-nanometer ⁣technology ⁢from TSMC‌ and ⁤Samsung,but Keller⁢ confirmed Intel’s ⁣foundry services remain a possibility for future chip production. This demonstrates a willingness to‌ diversify its manufacturing partnerships as it aims to capitalize on growing opportunities, particularly with smaller clients.

japan’s Ruling Party Courts Working-Class Voters with Economic Promises

TOKYO – Facing headwinds after a disappointing upper house election, ​candidates‌ vying for‍ leadership of Japan‘s Liberal Democratic party (LDP) are centering ⁢their campaigns ​on pledges to bolster the economic prospects of the nation’s middle-class working population.the shift⁤ signals a recognition ​of growing discontent among this key demographic and a bid to regain lost support.

The LDP,‍ which has dominated Japanese politics for decades, suffered setbacks in July’s upper house election, widely attributed to voter​ frustration over rising living costs⁣ and stagnant wages. Now,as the party prepares ⁢to select its​ next leader,contenders⁣ are outlining plans to address the‍ concerns of working-age citizens,focusing on ⁤both immediate relief and ⁤medium-term economic improvements. This demographic – a cornerstone of Japan’s economy -⁢ feels increasingly squeezed by economic pressures, prompting the LDP‌ to recalibrate its ‍messaging and policy ⁤proposals.

the​ promises come as japan grapples​ with⁣ ongoing economic challenges, including inflation and an aging ⁢population. While specific proposals vary ‌among candidates, common themes‌ include tax relief measures, wage increases, and initiatives to⁣ support families and childcare – all⁢ aimed at easing the financial burden on working households. The outcome⁣ of the LDP leadership race will ​likely set the tone for Japan’s economic policy in the coming​ years and determine the extent to which the party ​can reconnect with a vital segment of the electorate.

India and Japan Fuel Asia private ​Equity⁣ Fundraising Despite Global Exit Challenges

TOKYO – Private equity investment in⁢ India and Japan is bucking a regional trend, ‍emerging as a key driver of fundraising in Asia even as a global backlog of companies seeking exits weighs on the broader market.

According to data from Preqin,Asia-focused private equity funds raised $9.6 billion between March and June.This positive momentum is largely attributed to strong ​investor interest in opportunities within India and Japan, contrasting with a‍ more ‍cautious⁤ approach to other Asian markets. The discrepancy highlights a ⁢shift in investor focus towards economies demonstrating robust​ growth ⁤and ‍technological advancement.

The current surroundings presents a challenge for private equity firms globally,with a significant number of portfolio companies awaiting​ sale or‍ initial public offerings. This “dry powder” situation – funds with committed capital but limited investment opportunities – ‌is creating pressure and ⁢impacting overall deal flow. However, ⁤India and Japan are proving resilient, offering a pipeline of ⁤attractive investment‍ targets, particularly in the technology sector.‌ Deals related to manufacturing,however,are experiencing slower progress.

Singapore Faces $3.1 Billion in Pharmaceutical ⁢Export Risk as U.S. Tariffs Loom

Singapore is bracing for potential disruption to ⁢$3.1 billion in pharmaceutical​ exports as the United States considers maintaining or​ increasing tariffs, despite ⁢a free trade agreement between the two nations. Trade Minister⁣ Gan Kim Yong revealed ongoing negotiations with U.S. ‌Commerce Secretary Howard Lutnick to secure preferential tariff treatment and maintain SingaporeS competitiveness in⁣ the American market.‍ The stakes are high, as broader sectoral tariffs could substantially impact demand for key Singaporean⁣ products, including semiconductors, consumer electronics,​ and pharmaceuticals – representing roughly 40% of all exports to the U.S.

While a free trade agreement has been in place since 2004, Singapore currently faces a 10% baseline tariff on exports to​ the U.S. Recent increases in steel and aluminum tariffs have already pushed the effective U.S. tariff ‍rate⁤ on Singaporean⁢ goods up to 7.8% in july, from‌ 6.8% in April. Gan ⁣emphasized the need ⁢for a favorable arrangement, stating, ‌”We do look forward to having some preferential‌ treatment versus the current top-line tariff the U.S. has imposed,” but acknowledged⁢ that the‌ specific tariff rate – whether 15% or another figure – ​remains ‍a ⁢key point of negotiation.

Gan indicated discussions are focused on potential deals within the pharmaceutical and semiconductor sectors,⁢ aiming ⁤to ensure​ continued⁢ access for Singaporean companies to the U.S. market. The central bank warned⁣ in July that‍ increased tariffs could severely curtail demand for Singapore’s crucial ‍export commodities.

Toyota‘s Woven City ​Opens, ⁢Pioneering Real-World Testing ​of Autonomous Technology

SHIZUOKA, Japan – Toyota Motor officially launched woven‍ City, a first-of-its-kind experimental smart city, in‌ Shizuoka prefecture‍ on ⁣thursday. The project aims to accelerate the⁣ development and⁤ deployment of technologies like autonomous driving and ‌robotics⁢ through real-world request with actual‍ residents.

Woven city represents a ​meaningful investment in‌ future mobility ​and urban living. Toyota intends to utilize the fully-integrated surroundings to test⁣ innovations ​in areas beyond transportation, including logistics and home automation, all while gathering data and feedback⁢ from people living within the community.The project envisions a future where technology seamlessly ⁢integrates into daily life, enhancing convenience ‍and sustainability.

The city is​ designed as a collaborative ecosystem,with Toyota inviting participation ⁤from other Japanese companies including daikin and Nissin. Initial deployments include twenty single-seater autonomous vehicles, with plans to‌ eventually accommodate approximately 300 residents.

The site⁣ will serve as a living laboratory, allowing Toyota to refine its autonomous systems⁢ and robotics in a dynamic, uncontrolled setting – a crucial step beyond simulations and closed-course testing. Data collected from woven City is expected to ​inform the development of future ‌Toyota products and contribute to broader advancements⁣ in smart city technologies.